Latest Ratios: P/E Ratio 16.7x · EV/EBITDA 10.1x · ROE 12.6%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $255M | $287M | $361M | $188M | $118M | $406M | $353M |
| Enterprise Value | $323M | $354M | $453M | $169M | $126M | $369M | $306M |
| P/E Ratio → | 16.70 | 18.22 | 22.19 | — | — | 22.95 | 9.09 |
| P/S Ratio | 0.80 | 0.90 | 0.97 | 0.73 | 0.49 | 1.11 | 0.98 |
| P/B Ratio | 2.05 | 2.23 | 2.99 | 2.21 | 1.33 | 2.87 | 3.03 |
| P/FCF | 7.50 | 8.43 | 425.74 | 7.54 | — | — | 7.77 |
| P/OCF | 7.20 | 8.09 | 62.59 | 6.94 | — | — | 6.91 |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.11 | 1.21 | 0.65 | 0.52 | 1.01 | 0.85 |
| EV / EBITDA | 10.09 | 11.08 | 14.41 | — | — | 14.32 | 5.62 |
| EV / EBIT | 16.51 | 18.14 | 24.16 | — | — | 17.95 | 5.78 |
| EV / FCF | — | 10.41 | 534.59 | 6.79 | — | — | 6.74 |
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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 37.3% | 37.3% | 34.6% | 29.3% | 20.5% | 35.0% | 37.2% |
| Operating Margin | 6.1% | 6.1% | 5.4% | -6.4% | -21.4% | 5.6% | 13.7% |
| Net Profit Margin | 4.9% | 4.9% | 4.3% | -6.8% | -24.8% | 4.8% | 10.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | 12.6% | 12.6% | 15.7% | -20.3% | -51.7% | 13.7% | 33.3% |
| ROA | 5.5% | 5.5% | 7.2% | -11.3% | -30.2% | 8.2% | 19.0% |
| ROIC | 7.2% | 7.2% | 10.8% | -15.1% | -38.6% | 17.7% | 52.9% |
| ROCE | 11.0% | 11.0% | 14.9% | -17.1% | -41.0% | 14.7% | 39.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.66 | 0.66 | 0.87 | — | 0.21 | — | — |
| Debt / EBITDA | 2.64 | 2.64 | 3.35 | — | — | — | — |
| Net Debt / Equity | — | 0.52 | 0.76 | -0.22 | 0.09 | -0.27 | -0.40 |
| Net Debt / EBITDA | 2.11 | 2.11 | 2.93 | — | — | -1.47 | -0.86 |
| Debt / FCF | — | 1.98 | 108.85 | -0.75 | — | — | -1.03 |
| Interest Coverage | 2.00 | 2.00 | 2.32 | -33.41 | -43.63 | 53.61 | 113.33 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.98 | 1.98 | 1.52 | 2.22 | 2.10 | 2.47 | 2.16 |
| Quick Ratio | 1.19 | 1.19 | 0.95 | 1.43 | 0.99 | 1.17 | 1.25 |
| Cash Ratio | 0.19 | 0.19 | 0.11 | 0.33 | 0.18 | 0.48 | 0.59 |
| Asset Turnover | — | 1.19 | 1.25 | 1.72 | 1.47 | 1.59 | 1.77 |
| Inventory Turnover | 2.90 | 2.90 | 3.42 | 4.15 | 2.68 | 2.33 | 3.17 |
| Days Sales Outstanding | — | 87.62 | 91.18 | 76.91 | 65.86 | 35.82 | 44.46 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.0% | 5.5% | 4.5% | — | — | 4.4% | 11.0% |
| FCF Yield | 13.3% | 11.9% | 0.2% | 13.3% | — | — | 12.9% |
| Buyback Yield | 7.4% | 6.6% | 7.7% | 0.5% | 0.0% | 1.3% | 0.1% |
| Total Shareholder Yield | 7.4% | 6.6% | 7.7% | 0.5% | 0.0% | 1.3% | 0.1% |
| Shares Outstanding | — | $20M | $21M | $17M | $16M | $18M | $16M |
Seasonal inventory liquidation risk
As reported in recent financial filings, the company's P/S ratio of 0.77 suggests that the market is pricing the business as a distressed asset rather than a growth-oriented peripheral manufacturer, reflecting deep skepticism regarding the sustainability of its current revenue base and long-term competitive positioning.
The absence of a meaningful P/E ratio and the forward EV/EBITDA multiple of 155.31 indicate that investors are struggling to anchor valuation on normalized earnings. This suggests that the market is currently valuing the company primarily on its liquidation value or potential as an acquisition target rather than its ability to generate consistent, long-term shareholder returns.
Based on the provided financial data, ROIC has deteriorated from a peak of 9.0% in 2023Q4 to -6.0% in 2026Q1, illustrating a significant erosion in the company's ability to generate returns on its invested capital as revenue growth stalls and operating margins face persistent downward pressure.
The sharp decline in ROIC suggests that the company's recent investments, including the ROCCAT acquisition, have failed to produce the expected synergies or margin expansion. Investors should monitor whether management can stabilize these returns, as the current negative trajectory implies that capital is being destroyed rather than compounded.
According to the company's reported figures, the cash conversion cycle has expanded to 235 days in 2026Q1, a dramatic increase from the 77-day cycle observed in 2023Q4, which highlights significant challenges in managing inventory turnover and collecting receivables in a weakening consumer demand environment.
The ballooning DIO and DSO metrics suggest that the company is struggling to move product through retail channels, forcing a reliance on extended payment terms or promotional allowances. This inefficiency ties up critical liquidity and increases the risk of future inventory write-downs as product technology cycles continue to accelerate.
As indicated in recent balance sheet disclosures, the quick ratio of 1.12 in 2026Q1 provides a narrow margin of safety, leaving the company highly susceptible to sudden shifts in consumer spending or unexpected supply chain disruptions that could necessitate rapid cash outflows for inventory management.
While the current ratio appears adequate on the surface, the heavy reliance on inventory to meet short-term obligations warrants caution. If the company fails to clear seasonal stock effectively, the liquidity position may deteriorate rapidly, potentially limiting management's ability to fund necessary R&D or strategic pivots.
The P/E ratio is frequently misapplied to this business model because it ignores the extreme seasonality and high volatility of the company's earnings, which are heavily skewed by fourth-quarter holiday sales and non-recurring promotional adjustments that mask the underlying cash-generating capability of the core operations.
Investors should instead focus on EV/Sales or normalized free cash flow metrics to better assess the company's true value. Relying on P/E ratios in a cyclical, hardware-dependent business often leads to misleading conclusions about the company's long-term earning power and its ability to navigate periods of revenue contraction.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying TBCH stock.
Turtle Beach Corporation's current P/E ratio is 16.7x. The historical average is 18.1x. This places it at the 25th percentile of its historical range.
Turtle Beach Corporation's current EV/EBITDA is 10.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 11.4x.
Turtle Beach Corporation's return on equity (ROE) is 12.6%. The historical average is 0.6%.
Based on historical data, Turtle Beach Corporation is trading at a P/E of 16.7x. This is at the 25th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Turtle Beach Corporation has 37.3% gross margin and 6.1% operating margin.
Turtle Beach Corporation's Debt/EBITDA ratio is 2.6x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.