Latest Ratios: P/E Ratio -159.1x · EV/EBITDA 40.4x · ROE -10.6%. (1998–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $47.9B | $36.6B | $36.3B | $25.3B | $19.1B | $18.0B | $20.5B | $13.5B | $10.9B | $11.0B | $5.5B |
| Enterprise Value | $49.3B | $38.0B | $38.9B | $28.0B | $21.7B | $16.5B | $19.2B | $12.4B | $10.0B | $10.2B | $4.8B |
| P/E Ratio → | -159.13 | — | — | — | — | 42.94 | 34.72 | 33.51 | 32.54 | 63.49 | 82.32 |
| P/S Ratio | 7.19 | 5.50 | 6.44 | 4.72 | 3.57 | 5.12 | 6.06 | 4.38 | 4.07 | 6.15 | 3.07 |
| P/B Ratio | 13.61 | 10.42 | 16.98 | 4.46 | 2.11 | 4.71 | 6.14 | 5.33 | 5.33 | 7.41 | 5.45 |
| P/FCF | 103.71 | 79.30 | — | — | — | 180.61 | 24.25 | 21.41 | 14.00 | 27.16 | 14.15 |
| P/OCF | 76.67 | 58.62 | — | — | 17341.88 | 69.59 | 22.42 | 19.74 | 12.89 | 22.34 | 13.42 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.71 | 6.91 | 5.24 | 4.06 | 4.70 | 5.70 | 4.00 | 3.76 | 5.70 | 2.69 |
| EV / EBITDA | 40.41 | 31.17 | 64.60 | 45.39 | 34.72 | 22.52 | 23.11 | 18.67 | 21.30 | 36.45 | 13.63 |
| EV / EBIT | — | — | — | — | — | 33.62 | 27.92 | 26.65 | 41.71 | 64.35 | 52.36 |
| EV / FCF | — | 82.36 | — | — | — | 165.71 | 22.79 | 19.54 | 12.94 | 25.18 | 12.36 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 54.2% | 54.2% | 54.4% | 41.9% | 42.7% | 56.2% | 54.5% | 50.1% | 42.9% | 49.9% | 42.5% |
| Operating Margin | -1.3% | -1.3% | -13.1% | -21.4% | -21.5% | 13.5% | 18.7% | 13.8% | 7.7% | 7.6% | 5.1% |
| Net Profit Margin | -4.5% | -4.5% | -79.5% | -70.0% | -21.0% | 11.9% | 17.5% | 13.1% | 12.5% | 9.7% | 3.8% |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -10.6% | -10.6% | -114.8% | -50.9% | -17.5% | 11.7% | 20.1% | 17.7% | 18.9% | 13.9% | 8.5% |
| ROA | -3.2% | -3.2% | -41.9% | -26.7% | -10.0% | 6.6% | 10.7% | 8.8% | 8.4% | 5.0% | 2.3% |
| ROIC | -1.3% | -1.3% | -8.4% | -8.5% | -12.3% | 16.1% | 27.3% | 24.8% | 16.3% | 20.3% | 23.1% |
| ROCE | -1.4% | -1.4% | -9.6% | -10.5% | -14.0% | 11.5% | 18.8% | 16.4% | 9.6% | 7.8% | 6.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.84 | 0.84 | 1.92 | 0.62 | 0.39 | 0.07 | 0.06 | 0.07 | — | 0.01 | 0.25 |
| Debt / EBITDA | 2.43 | 2.43 | 6.81 | 5.72 | 5.57 | 0.34 | 0.23 | 0.27 | — | 0.03 | 0.72 |
| Net Debt / Equity | — | 0.40 | 1.24 | 0.49 | 0.29 | -0.39 | -0.37 | -0.46 | -0.41 | -0.54 | -0.69 |
| Net Debt / EBITDA | 1.16 | 1.16 | 4.40 | 4.50 | 4.25 | -2.03 | -1.48 | -1.78 | -1.75 | -2.86 | -1.97 |
| Debt / FCF | — | 3.06 | — | — | — | -14.91 | -1.46 | -1.87 | -1.06 | -1.97 | -1.79 |
| Interest Coverage | -0.56 | -0.56 | -25.53 | -25.34 | -8.30 | 20.00 | 64.94 | 88.37 | 29.98 | 7.14 | 4.21 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.24 | 1.24 | 0.78 | 0.94 | 0.65 | 1.84 | 1.89 | 1.71 | 1.45 | 1.40 | 1.30 |
| Quick Ratio | 1.23 | 1.23 | 0.78 | 0.94 | 0.65 | 1.83 | 1.88 | 1.70 | 1.43 | 1.39 | 1.29 |
| Cash Ratio | 0.77 | 0.77 | 0.41 | 0.32 | 0.26 | 1.21 | 1.22 | 0.98 | 0.80 | 0.82 | 0.83 |
| Asset Turnover | — | 0.71 | 0.61 | 0.44 | 0.34 | 0.54 | 0.56 | 0.62 | 0.63 | 0.48 | 0.57 |
| Inventory Turnover | 272.39 | 272.39 | — | — | — | 116.11 | 86.52 | 80.72 | 54.03 | 59.25 | 62.67 |
| Days Sales Outstanding | — | 40.41 | 55.19 | 52.17 | 57.52 | 71.27 | 71.24 | 70.02 | 54.13 | 50.42 | 45.03 |
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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 2.3% | 2.9% | 3.0% | 3.1% | 1.6% | 1.2% |
| FCF Yield | 1.0% | 1.3% | — | — | — | 0.6% | 4.1% | 4.7% | 7.1% | 3.7% | 7.1% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | 0.0% | 3.3% | 1.4% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | 0.0% | 3.3% | 1.4% | 0.0% |
| Shares Outstanding | — | $185M | $175M | $170M | $160M | $117M | $116M | $114M | $115M | $113M | $92M |
Delayed Major Title Releases
According to current market data, Take-Two trades at a forward P/E of 35.41, a valuation that appears to price in a best-case scenario for upcoming pipeline assets while ignoring the persistent negative TTM P/E of -147.24 reported in recent financial statements.
The market's willingness to assign a high forward multiple suggests investors are looking past current operational losses toward the anticipated launch of major Rockstar titles. However, this premium valuation warrants caution, as it implies a significant growth acceleration that may not materialize if development cycles continue to extend beyond historical norms.
Based on reported figures, Take-Two's ROIC has struggled to maintain positive territory, oscillating between -2.6% and 0.9% over the last ten quarters, which indicates that the firm is currently failing to generate returns on invested capital that exceed its cost of funding.
The inability to consistently compound returns on capital suggests that the massive capital outlays for acquisitions and long-dated R&D are not yet yielding the expected operational synergies. Investors should monitor whether the upcoming product cycle can drive a meaningful inflection in ROIC, or if the current capital-intensive model will continue to erode shareholder value.
As reported in financial statements, the company's cash conversion cycle has remained volatile, with DSO reaching 42 days in 2026Q4, suggesting that the integration of mobile-first revenue streams is altering the firm's historical working capital efficiency compared to its traditional console-focused business model.
The fluctuation in DSO and DPO indicates that Take-Two is navigating a more complex supply chain and payment environment following the Zynga acquisition. This shift may imply that the company's cash flow generation is becoming increasingly sensitive to the payment terms of mobile platform providers rather than just direct consumer sales.
According to recent SEC filings, Take-Two's debt-to-EBITDA ratio has spiked to 6.84 in 2026Q4, a significant increase from historical levels that suggests the company's capacity to service its debt is becoming increasingly constrained by its current negative operating margin profile.
The elevated leverage profile, combined with inconsistent interest coverage, indicates that the firm has limited room for further balance sheet expansion without risking a credit re-rating. Investors should monitor the company's ability to deleverage through organic cash flow, as reliance on external financing in a high-rate environment may pressure future earnings.
The P/E ratio is frequently misapplied to Take-Two's business model, as it obscures the massive impact of deferred revenue and capitalized software amortization that fundamentally distorts GAAP earnings in a company defined by long-cycle, high-budget intellectual property development.
Analysts should instead prioritize Net Bookings and Free Cash Flow to evaluate the firm's true earning power, as these metrics better capture the actual cash-generative capacity of the Rockstar and 2K portfolios. Relying on P/E in this context may lead to an inaccurate assessment of the company's valuation relative to its actual cash-generating potential.
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Quick answers to the most common questions about buying TTWO stock.
Take-Two Interactive Software, Inc.'s current P/E ratio is -159.1x. The historical average is 33.3x.
Take-Two Interactive Software, Inc.'s current EV/EBITDA is 40.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.2x.
Take-Two Interactive Software, Inc.'s return on equity (ROE) is -10.6%. The historical average is -2.8%.
Based on historical data, Take-Two Interactive Software, Inc. is trading at a P/E of -159.1x. Compare with industry peers and growth rates for a complete picture.
Take-Two Interactive Software, Inc. has 54.2% gross margin and -1.3% operating margin.
Take-Two Interactive Software, Inc.'s Debt/EBITDA ratio is 2.4x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.