Latest Ratios: P/E Ratio -65.7x · EV/EBITDA N/A · ROE -10.4%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $150M | $90M | $59M | $90M | $50M | $147M | — | — |
| Enterprise Value | $145M | $85M | $90M | $120M | $36M | $150M | — | — |
| P/E Ratio → | -65.67 | — | — | — | — | — | — | — |
| P/S Ratio | 1.44 | 0.87 | 1.10 | 0.62 | 0.62 | 3.37 | — | — |
| P/B Ratio | 4.64 | 3.25 | 7.08 | 1.44 | — | — | — | — |
| P/FCF | 15.49 | 9.29 | — | — | — | — | — | — |
| P/OCF | 14.52 | 8.71 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 0.82 | 1.66 | 0.83 | 0.44 | 3.44 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | 8.70 | — | 16.52 | — | — | — | — |
| EV / FCF | — | 8.77 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.8% | 42.8% | -7.7% | 35.3% | 30.5% | 29.0% | 31.7% | — |
| Operating Margin | -4.3% | -4.3% | -96.3% | -5.7% | -1.1% | -8.5% | -2.2% | — |
| Net Profit Margin | -1.8% | -1.8% | -116.2% | -0.7% | -8.7% | -11.1% | -18.6% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -10.4% | -10.4% | -176.2% | -27.6% | — | — | — | -5.2% |
| ROA | -2.5% | -2.5% | -62.5% | -0.9% | -12.6% | -24.3% | -76.9% | -4.9% |
| ROIC | -11.0% | -11.0% | -59.4% | -54.8% | — | — | — | — |
| ROCE | -9.5% | -9.5% | -66.2% | -11.0% | -3.6% | -195.0% | — | -5.2% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 5.02 | 0.54 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.18 | 3.62 | 0.47 | — | — | — | -1.05 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.52 | — | — | — | — | — | — |
| Interest Coverage | 0.88 | 0.88 | -4.49 | 0.90 | -3.66 | -0.86 | — | — |
Net cash position: cash ($8M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.50 | 1.50 | 3.12 | 3.96 | 2.15 | 1.04 | 0.57 | 20.41 |
| Quick Ratio | 0.69 | 0.69 | 1.84 | 1.64 | 1.52 | 0.58 | 0.40 | 20.41 |
| Cash Ratio | 0.20 | 0.20 | 1.16 | 1.18 | 0.91 | 0.28 | 0.16 | 20.41 |
| Asset Turnover | — | 1.33 | 0.74 | 1.14 | 0.92 | 1.82 | 2.07 | — |
| Inventory Turnover | 1.89 | 1.89 | 2.64 | 1.53 | 2.27 | 3.08 | 5.01 | — |
| Days Sales Outstanding | — | 48.98 | 53.90 | 17.25 | 70.99 | 32.44 | 49.03 | — |
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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | 6.5% | 10.8% | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $65M | $60M | $43M | $5M | $15M | $15M | $15M |
Liquidity and capital constraints
Based on reported figures, Tigo's forward P/E of 52.47 suggests that investors are pricing in aggressive future earnings expansion, yet the current P/S ratio of 1.64 remains significantly lower than many high-growth solar peers, indicating a market skepticism regarding the company's path to consistent profitability.
The valuation multiples appear to reflect a high-beta play on solar safety regulations rather than a mature hardware provider. Investors should monitor whether the current forward P/E is justified by the transition to software-integrated revenue or if it represents an overly optimistic outlook given the persistent operating losses.
According to recent financial statements, Tigo's ROIC has fluctuated significantly, reaching -6.6% in 2026Q1, which highlights the company's ongoing struggle to generate positive returns on invested capital compared to the more established, albeit currently challenged, margins seen in the broader solar technology sector.
The negative trend in ROIC suggests that the company is currently destroying value rather than compounding it, primarily due to the high fixed-cost burden relative to its current revenue scale. This warrants further investigation into whether the recent investments in storage and software will eventually drive the efficiency gains necessary to turn ROIC positive.
As reported in quarterly filings, Tigo's cash conversion cycle has remained elevated, peaking at 90 days in 2026Q1, which suggests that the company faces significant challenges in managing its inventory and receivables compared to the more streamlined operations of its primary MLPE competitors.
The high DIO of 175 days indicates a potential accumulation of channel inventory, which may mask underlying demand weakness. Investors should monitor whether these efficiency metrics improve as the company attempts to scale its Energy Intelligence platform or if they remain a structural drag on cash flow.
Based on reported figures, Tigo's current ratio of 2.46 provides a superficial sense of security, yet the quick ratio of 1.35, when viewed alongside the company's persistent operating losses, suggests that liquidity could tighten rapidly if inventory turnover slows or if external financing becomes more expensive.
The company's reliance on external capital to fund operations is evident, and the limited cash position leaves little room for error in a volatile solar market. Any further deterioration in the quick ratio may indicate that the company is becoming increasingly dependent on its ability to liquidate inventory to meet short-term obligations.
The most commonly misapplied metric for Tigo is headline revenue growth, which, as noted in recent SEC filings, often obscures the distinction between distributor sell-in and actual end-user demand, potentially leading to an overestimation of the company's true market penetration and long-term earnings quality.
Analysts should prioritize 'monitored systems' or 'sell-through' data over raw revenue growth to better assess the company's competitive standing. Relying solely on top-line expansion ignores the risks of channel stuffing and the potential for future inventory corrections that could disproportionately impact the company's fragile cash position.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying TYGO stock.
Tigo Energy, Inc.'s current P/E ratio is -65.7x. This places it at the 50th percentile of its historical range.
Tigo Energy, Inc.'s return on equity (ROE) is -10.4%. The historical average is -54.9%.
Based on historical data, Tigo Energy, Inc. is trading at a P/E of -65.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Tigo Energy, Inc. has 42.8% gross margin and -4.3% operating margin.