Latest Ratios: P/E Ratio -0.0x · EV/EBITDA -4.9x · ROE -26.0%. (2012–2025 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2M | $2M | $4M | $132M | $87M | $763M | $1.6B | $2.1B | $2.0B | $2.7B | $1.9B |
| Enterprise Value | $-26108947 | $-26109659 | $-27111337 | $112M | $77M | $733M | $1.6B | $2.1B | $2.0B | $2.7B | $1.9B |
| P/E Ratio → | -0.03 | — | — | 0.44 | 28.67 | — | — | — | 1012.36 | 688.00 | 897.74 |
| P/S Ratio | 0.06 | 0.06 | 0.08 | 2.78 | 1.62 | 13.80 | 38.60 | 42.43 | 67.68 | 62.21 | 39.02 |
| P/B Ratio | 0.01 | 0.02 | 0.03 | 1.07 | 0.75 | 6.78 | 16.40 | 22.10 | 18.19 | 24.45 | 23.19 |
| P/FCF | — | — | 0.91 | 27.08 | 10.54 | — | 116.35 | 143.03 | 141.86 | 1206.38 | — |
| P/OCF | — | — | 0.90 | 25.04 | 10.43 | — | 115.16 | 142.14 | 136.43 | 1163.30 | — |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.68 | -0.63 | 2.37 | 1.44 | 13.26 | 37.93 | 42.33 | 67.86 | 62.26 | 39.03 |
| EV / EBITDA | -4.93 | -4.93 | -4.83 | 49.20 | 11.59 | — | — | 1273.94 | 586.27 | 498.05 | 270.86 |
| EV / EBIT | — | — | -29.64 | 14.37 | 12.14 | — | — | — | 755.80 | 533.67 | 212.42 |
| EV / FCF | — | — | -6.94 | 23.06 | 9.36 | — | 114.33 | 142.69 | 142.24 | 1207.39 | — |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 18.6% | 18.6% | 20.8% | 21.5% | 18.9% | 18.9% | 10.6% | 12.1% | 27.2% | 24.8% | 28.4% |
| Operating Margin | -31.8% | -31.8% | 9.3% | 3.9% | 11.1% | -15.4% | -24.5% | 1.5% | 8.0% | 10.7% | 13.2% |
| Net Profit Margin | -80.9% | -80.9% | -7.5% | 11.8% | 5.6% | -15.1% | -15.4% | -19.6% | 6.7% | 8.7% | 9.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -26.0% | -26.0% | -2.6% | 4.7% | 2.6% | -7.9% | -6.7% | -9.4% | 1.8% | 4.0% | 5.6% |
| ROA | -23.2% | -23.2% | -2.3% | 4.0% | 2.2% | -6.7% | -5.6% | -7.7% | 1.4% | 3.2% | 4.7% |
| ROIC | -10.2% | -10.2% | 3.0% | 1.3% | 4.7% | -8.3% | -9.7% | 0.5% | 1.6% | 3.6% | 6.0% |
| ROCE | -10.0% | -10.0% | 3.1% | 1.5% | 5.1% | -8.0% | -10.6% | 0.7% | 2.1% | 4.8% | 8.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.04 | 0.08 | 0.08 | 0.11 | 0.09 | 0.08 | 0.12 | 0.11 | 0.08 |
| Debt / EBITDA | 0.88 | 0.88 | 0.80 | 4.17 | 1.40 | — | — | 4.50 | 3.82 | 2.26 | 0.97 |
| Net Debt / Equity | — | -0.26 | -0.24 | -0.16 | -0.08 | -0.27 | -0.29 | -0.05 | 0.05 | 0.02 | 0.01 |
| Net Debt / EBITDA | -5.37 | -5.37 | -5.47 | -8.59 | -1.46 | — | — | -3.11 | 1.55 | 0.42 | 0.11 |
| Debt / FCF | — | — | -7.86 | -4.03 | -1.18 | — | -2.03 | -0.35 | 0.38 | 1.01 | — |
| Interest Coverage | -118.85 | -118.85 | 3.15 | 18.53 | 10.51 | -10.16 | -34.43 | -19.97 | 4.24 | 9.11 | 18.61 |
Net cash position: cash ($33M) exceeds total debt ($5M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.59 | 6.59 | 10.02 | 6.57 | 7.88 | 4.86 | 4.87 | 3.56 | 3.17 | 3.33 | 4.52 |
| Quick Ratio | 6.57 | 6.57 | 10.00 | 6.50 | 7.82 | 4.81 | 4.83 | 3.53 | 3.09 | 3.23 | 4.43 |
| Cash Ratio | 2.95 | 2.95 | 2.99 | 1.65 | 1.40 | 1.98 | 2.21 | 0.65 | 0.35 | 0.37 | 0.42 |
| Asset Turnover | — | 0.31 | 0.30 | 0.33 | 0.40 | 0.41 | 0.36 | 0.43 | 0.22 | 0.31 | 0.51 |
| Inventory Turnover | 128.81 | 128.81 | 177.77 | 30.06 | 48.29 | 41.91 | 56.32 | 72.62 | 11.00 | 11.73 | 28.46 |
| Days Sales Outstanding | — | 359.73 | 656.65 | 650.59 | 573.45 | 302.41 | 297.04 | 291.76 | 401.23 | 379.94 | 311.21 |
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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | 226.7% | 3.5% | — | — | — | 0.1% | 0.1% | 0.1% |
| FCF Yield | — | — | 109.3% | 3.7% | 9.5% | — | 0.9% | 0.7% | 0.7% | 0.1% | — |
| Buyback Yield | 22.6% | 22.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 22.6% | 22.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $2M | $423174 | $3M | $1M | $172864 | $123192 | $120221 | $119773 | $108216 | $95913 |
Structural operating losses
Based on recent financial data, Tantech trades at a price-to-sales ratio of 0.07, a valuation level that suggests the market assigns minimal value to the company's ongoing operations and views the current business model as a potential value trap rather than a growth-oriented enterprise.
The negative P/E and EV/EBITDA multiples underscore that the company is currently failing to generate positive earnings or operational cash flow. Investors should monitor whether the significant discount to book value represents a genuine opportunity or a rational adjustment for the lack of productive asset utilization.
As reported in historical financial statements, Tantech's ROIC has trended into negative territory, reaching -11.3% in 2025Q4, which suggests that the capital allocated toward the specialty electric vehicle pivot has failed to generate returns exceeding the cost of capital or even maintaining basic profitability.
The decay in return on invested capital highlights a fundamental misalignment between the company's strategic investments and its ability to execute within the competitive Chinese EV market. This trend warrants further investigation into whether the company's core bamboo-based assets are being cannibalized to fund loss-making vehicle production.
According to the latest quarterly filings, Tantech's cash conversion cycle has ballooned to 203 days, a significant inefficiency that indicates the company is struggling to convert its inventory and receivables into cash, thereby exacerbating the liquidity pressures inherent in its current operating model.
The high DSO relative to historical norms suggests that the company may be offering extended credit terms to secure municipal contracts, which ties up vital liquidity. This inefficiency appears to be a structural drag on the business, as the company lacks the leverage to accelerate cash collection from its government-linked customer base.
Based on reported figures, the current ratio of 6.59 is frequently misapplied by market participants as a sign of financial strength, yet this metric obscures the reality that a significant portion of these assets may be illiquid or restricted within mainland Chinese accounts.
Analysts should prioritize the quick ratio and cash-burn rate over the current ratio, as the latter includes inventory and receivables that may not be readily convertible to cash. Relying on the current ratio alone ignores the structural risk that the company's liquidity may be inaccessible for international shareholders during a period of operational distress.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying TANH stock.
Tantech Holdings Ltd's current P/E ratio is -0.0x. The historical average is 14.6x.
Tantech Holdings Ltd's current EV/EBITDA is -4.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 30.4x.
Tantech Holdings Ltd's return on equity (ROE) is -26.0%. The historical average is 3.4%.
Based on historical data, Tantech Holdings Ltd is trading at a P/E of -0.0x. Compare with industry peers and growth rates for a complete picture.
Tantech Holdings Ltd has 18.6% gross margin and -31.8% operating margin.
Tantech Holdings Ltd's Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.