Latest Ratios: P/E Ratio -1.3x · EV/EBITDA N/A · ROE -49.5%. (2021–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Market Cap | $42M | $87M | — | — | — | — |
| Enterprise Value | $77M | $137M | — | — | — | — |
| P/E Ratio → | -1.34 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 0.41 | 0.76 | — | — | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -49.5% | -49.5% | 30.3% | -31.1% | 1.4% | -4.2% |
| ROA | -35.3% | -35.3% | 28.8% | -30.7% | 1.3% | -3.8% |
| ROIC | -34.8% | -34.8% | 28.2% | -23.4% | 2.3% | -6.1% |
| ROCE | -54.7% | -54.7% | 37.3% | -31.2% | 3.0% | -7.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.45 | 0.45 | — | — | — | 0.04 |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.44 | -0.07 | -0.11 | -0.79 | 0.01 |
| Net Debt / EBITDA | — | — | -0.22 | — | -17.68 | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -13.02 | -13.02 | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.11 | 0.11 | 1.02 | 9.03 | 60.80 | 0.92 |
| Quick Ratio | 0.11 | 0.11 | 1.02 | 9.03 | 60.80 | 0.92 |
| Cash Ratio | 0.05 | 0.05 | 1.02 | 8.51 | 60.13 | 0.58 |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $20M | $19M | $20M | $20M | $17M |
Protocol-dependent liquidity constraints
Based on reported financial statements, STKE trades at a price-to-book ratio of 0.28, suggesting that the market is heavily discounting the company's net asset value due to the extreme volatility and liquidity risks inherent in its concentrated digital asset holdings compared to broader financial services peers.
The negative P/E ratio of -0.93 underscores the lack of sustainable earnings, rendering traditional valuation multiples largely ineffective for assessing the firm's intrinsic value. Investors should monitor whether this deep discount to book value represents a genuine value opportunity or a rational market response to the company's deteriorating equity base and ongoing operational losses.
As reported in recent financial filings, the company's ROIC has plummeted to -54.3% in 2026Q2, indicating a severe destruction of shareholder capital that contrasts sharply with the positive returns observed in early 2024, reflecting the high-risk nature of the firm's pivot toward volatile validator infrastructure.
The rapid decay in ROE and ROIC suggests that the capital deployed into validator nodes and digital assets is failing to generate sufficient yields to cover the associated operational overhead. This trend warrants further investigation into whether the current capital allocation strategy can ever achieve a positive return on invested capital given the inherent volatility of the underlying Solana ecosystem.
According to recent quarterly data, the company's current ratio has collapsed to 0.09 as of 2026Q2, which indicates a precarious liquidity position that leaves the firm with minimal buffer to meet short-term obligations without relying on the liquidation of volatile digital assets during market downturns.
The near-total lack of liquid assets relative to current liabilities suggests that the company is highly vulnerable to any disruption in protocol-level reward distributions or a sudden decline in token prices. This liquidity profile appears significantly weaker than industry peers, necessitating a cautious outlook on the firm's ability to sustain operations under stress.
As indicated by financial statements, the most commonly misapplied metric for STKE is the price-to-book ratio, which obscures the reality that the company's reported book value is heavily distorted by the mark-to-market accounting of volatile digital assets that may not be readily convertible to cash.
Analysts should instead focus on the 'Core Staking Yield' and adjusted free cash flow, which strip away the non-cash fluctuations of the balance sheet to reveal the actual production of the validator business. Relying on P/B ratios in this context risks ignoring the significant unbonding periods and liquidity constraints that prevent the company from accessing its own reported capital during periods of market volatility.
Includes 30+ ratios · 5 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying STKE stock.
Sol Strategies Inc. Common Shares's current P/E ratio is -1.3x. This places it at the 50th percentile of its historical range.
Sol Strategies Inc. Common Shares's return on equity (ROE) is -49.5%. The historical average is -10.6%.
Based on historical data, Sol Strategies Inc. Common Shares is trading at a P/E of -1.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.