Latest Ratios: P/E Ratio -4.9x · EV/EBITDA N/A · ROE -9.0%. (1999–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22M | $27M | $31M | $32M | $31M | $50M | $105M | $99M | $204M | $73M | $92M |
| Enterprise Value | $-27446910 | $-22614000 | $-15775280 | $-19229200 | $-17545510 | $17M | $72M | $42M | $124M | $-11118000 | $15M |
| P/E Ratio → | -4.94 | — | — | — | — | — | — | 19.43 | 29.63 | 200.00 | — |
| P/S Ratio | 2.00 | 2.44 | 1.99 | 2.29 | 1.97 | 2.04 | 1.59 | 0.85 | 2.07 | 0.91 | 0.78 |
| P/B Ratio | 0.48 | 0.59 | 0.61 | 0.56 | 0.46 | 0.64 | 1.05 | 0.96 | 2.24 | 0.81 | 1.01 |
| P/FCF | — | — | — | 4.59 | 1.68 | — | — | — | 65.55 | 18.00 | — |
| P/OCF | — | — | — | 4.43 | 1.65 | — | — | — | 53.07 | 13.07 | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -2.08 | -1.00 | -1.37 | -1.10 | 0.69 | 1.10 | 0.36 | 1.26 | -0.14 | 0.13 |
| EV / EBITDA | — | — | — | — | — | — | — | 7.80 | 17.35 | -27.25 | — |
| EV / EBIT | — | — | — | — | — | — | — | 9.30 | 14.94 | -6.51 | — |
| EV / FCF | — | — | — | -2.74 | -0.94 | — | — | — | 39.88 | -2.75 | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 26.7% | 26.7% | 27.9% | 19.1% | -6.8% | 14.5% | 37.0% | 27.8% | 33.7% | 31.3% | 23.8% |
| Operating Margin | -67.4% | -67.4% | -43.2% | -31.3% | -33.4% | -95.6% | -8.9% | 4.0% | 6.6% | -1.0% | -4.3% |
| Net Profit Margin | -40.2% | -40.2% | -24.4% | -35.7% | -36.6% | -97.4% | -5.4% | 4.4% | 7.1% | 1.2% | -16.8% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -9.0% | -9.0% | -7.1% | -8.0% | -8.0% | -26.8% | -3.6% | 5.3% | 7.7% | 1.1% | -19.0% |
| ROA | -6.0% | -6.0% | -4.6% | -5.1% | -5.1% | -17.6% | -2.2% | 2.8% | 3.8% | 0.5% | -8.1% |
| ROIC | -3272.8% | -3272.8% | -99.7% | -25.8% | -12.4% | -31.3% | -7.8% | 12.3% | 56.7% | -5.9% | -14.5% |
| ROCE | -14.6% | -14.6% | -11.9% | -6.6% | -7.0% | -25.7% | -5.6% | 4.5% | 6.6% | -0.8% | -3.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.06 | 0.05 | 0.07 | 0.02 | 0.02 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.09 | -0.92 | -0.90 | -0.71 | -0.42 | -0.33 | -0.56 | -0.88 | -0.93 | -0.84 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -10.67 | -11.16 | -205.69 | — |
| Debt / FCF | — | — | — | -7.33 | -2.62 | — | — | — | -25.67 | -20.75 | — |
| Interest Coverage | — | — | — | — | — | -2324.30 | -364.69 | 98.87 | 135.75 | -14.55 | -65.64 |
Net cash position: cash ($51M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.92 | 2.92 | 3.02 | 2.83 | 2.76 | 2.74 | 2.83 | 2.34 | 1.94 | 1.86 | 1.65 |
| Quick Ratio | 2.83 | 2.83 | 2.98 | 2.79 | 2.72 | 2.58 | 2.69 | 1.94 | 1.50 | 1.37 | 1.21 |
| Cash Ratio | 2.36 | 2.36 | 2.14 | 1.89 | 1.52 | 0.91 | 0.76 | 0.84 | 0.99 | 0.99 | 0.79 |
| Asset Turnover | — | 0.16 | 0.20 | 0.16 | 0.15 | 0.20 | 0.44 | 0.66 | 0.54 | 0.44 | 0.57 |
| Inventory Turnover | 4.08 | 4.08 | 14.29 | 8.94 | 10.93 | 3.10 | 6.24 | 3.12 | 1.79 | 1.31 | 2.08 |
| Days Sales Outstanding | — | 205.15 | 211.91 | 324.04 | 631.67 | 745.93 | 439.13 | 193.48 | 66.45 | 87.13 | 61.62 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 5.1% | 3.4% | 0.5% | — |
| FCF Yield | — | — | — | 21.8% | 59.4% | — | — | — | 1.5% | 5.6% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 1.0% | 2.6% | 0.1% | 5.6% | 4.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.8% | 1.0% | 2.6% | 0.1% | 5.6% | 4.0% |
| Shares Outstanding | — | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M | $9M |
Terminal revenue base decline
According to recent market data, UTSI trades at a price-to-book ratio of 0.48, which suggests that investors are pricing the company as a liquidation play rather than a going concern, given the persistent negative earnings and the absence of a clear path to future profitability.
The valuation multiples, including a negative P/E, indicate that the market has effectively abandoned growth expectations for the firm. Investors should monitor whether the current discount to book value represents a genuine margin of safety or merely reflects the ongoing erosion of the company's asset base through operational losses.
Based on reported financial figures, the company's ROIC has plummeted to -53.8% in the most recent quarter, signaling that the business is failing to generate any meaningful return on its invested capital as it struggles to maintain its legacy infrastructure footprint against larger, more efficient competitors.
The consistent decline in return metrics over the last ten quarters suggests that the company is not merely experiencing a cyclical downturn but is suffering from a fundamental inability to deploy capital effectively. This trend warrants further investigation into whether any remaining R&D spend is actually capable of producing future economic value.
As reported in recent filings, the company's cash conversion cycle has reached 161 days, a significant deterioration that highlights the extreme difficulty in managing receivables and inventory within a shrinking, project-based telecom equipment market that lacks the scale to command favorable payment terms from major carrier clients.
The ballooning DSO and DIO figures suggest that the company is increasingly reliant on long-dated contracts that are difficult to monetize, further straining its cash position. This inefficiency appears to be a structural byproduct of the company's diminished bargaining power relative to its Tier-1 telecom customers.
While the company maintains a current ratio of 2.99, as noted in recent financial statements, this liquidity metric is somewhat misleading because it is heavily supported by a cash pile that is being steadily depleted to fund ongoing operating losses rather than productive business growth.
The high quick ratio of 2.88 confirms that the company is not currently facing a near-term solvency crisis, yet the lack of positive cash flow generation suggests this liquidity is a finite resource. Investors should monitor the burn rate closely, as the current trajectory implies a steady reduction in the company's ability to sustain its operations over the long term.
The price-to-book ratio is frequently misapplied to UTSI, as it obscures the reality that the company's book value is primarily composed of cash rather than productive operating assets, leading investors to incorrectly assume a floor for the stock price that may not exist if cash burn continues.
Analysts should instead focus on the 'cash-burn-adjusted' enterprise value, which accounts for the rapid depletion of the balance sheet. Relying on traditional book value metrics fails to capture the risk that the company's core business may eventually require a total write-down of its remaining intangible and inventory assets.
Includes 30+ ratios · 26 years · Updated daily
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Quick answers to the most common questions about buying UTSI stock.
UTStarcom Holdings Corp.'s current P/E ratio is -4.9x. The historical average is 35.5x.
UTStarcom Holdings Corp.'s return on equity (ROE) is -9.0%. The historical average is -9.1%.
Based on historical data, UTStarcom Holdings Corp. is trading at a P/E of -4.9x. Compare with industry peers and growth rates for a complete picture.
UTStarcom Holdings Corp. has 26.7% gross margin and -67.4% operating margin.