Latest Ratios: P/E Ratio -1.5x · EV/EBITDA N/A · ROE N/A. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $9M | $29M | $137M | — | — | — |
| Enterprise Value | $28M | $49M | $148M | — | — | — |
| P/E Ratio → | -1.51 | — | — | — | — | — |
| P/S Ratio | 38.66 | 131.03 | 965.17 | — | — | — |
| P/B Ratio | — | — | — | — | — | — |
| P/FCF | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 219.43 | 1044.41 | — | — | — |
| EV / EBITDA | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|
| Gross Margin | 68.5% | 68.5% | 41.2% | 94.9% | -27.3% | 1.5% |
| Operating Margin | -7930.8% | -7930.8% | -19602.0% | -114.2% | -11438.3% | -1189.5% |
| Net Profit Margin | -2999.8% | -2999.8% | -33541.0% | -172.4% | -15695.9% | -1252.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | — | — | — | -10.5% | -29.2% | — |
| ROA | -27.0% | -27.0% | -226.8% | -9.1% | -20.5% | -189.2% |
| ROIC | -646.8% | -646.8% | — | -4.9% | -12.2% | — |
| ROCE | — | — | -2901.4% | -6.7% | -20.1% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.00 | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | 0.00 | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -2.02 | -2.02 | -25.30 | -1.94 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.49 | 0.49 | 0.74 | 0.43 | 0.03 | 0.09 |
| Quick Ratio | 0.19 | 0.19 | 0.37 | 0.20 | 0.03 | 0.03 |
| Cash Ratio | 0.00 | 0.00 | 0.08 | 0.19 | 0.02 | 0.01 |
| Asset Turnover | — | 0.01 | 0.01 | 0.44 | 0.00 | 0.15 |
| Inventory Turnover | 0.01 | 0.01 | 0.01 | 0.06 | — | 0.58 |
| Days Sales Outstanding | — | 229.89 | 217.97 | 2.13 | 40.72 | — |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $46M | $36M | $36M | $40M | $40M |
Immediate liquidity and solvency
According to current market data, Veea trades at a 46.02x price-to-sales multiple, a valuation that appears disconnected from its nascent revenue base and suggests investors are pricing in an aggressive, unproven growth trajectory rather than current fundamental performance metrics.
The elevated P/S ratio reflects a speculative option value on the company's edge computing architecture rather than a reflection of its actual commercial scale. Given the lack of positive earnings or cash flow, traditional valuation metrics like P/E are non-informative, leaving investors to rely on revenue multiples that may be highly sensitive to future capital raises and dilution.
As reported in financial statements, Veea's gross margin reached 68.48% in recent periods, yet this is overshadowed by an operating margin of -7930.79%, indicating that the company's core technology stack is currently unable to cover its massive R&D and administrative overhead.
The high gross margin suggests that the underlying software and service components of the VeeaHub platform possess inherent scalability. However, the extreme operating losses imply that the company is still in a heavy investment phase, where the cost of maintaining a complex, multi-protocol engineering team far exceeds the current revenue-generating capacity of the installed base.
Based on reported figures, Veea's cash conversion cycle is highly erratic, with inventory days reaching 3,812 in 2026Q1, which suggests significant challenges in managing hardware supply chains and converting manufactured units into realized revenue within a reasonable timeframe.
The extreme duration of the cash conversion cycle highlights the difficulty of scaling a hardware-centric business model with limited capital. Investors should monitor whether these metrics improve as the company matures, as the current inefficiency in working capital management places additional strain on an already limited liquidity position.
According to recent SEC filings, Veea's current ratio of 1.14 and quick ratio of 0.50 as of 2026Q1 reveal a precarious liquidity position, leaving the company with minimal buffer to absorb operational shocks or fund ongoing development without immediate external financing.
The reliance on a low quick ratio indicates that a significant portion of the company's current assets is tied up in inventory that may not be easily liquidated. This lack of liquid assets suggests that the company is highly vulnerable to any disruption in its ability to access capital markets or secure new customer contracts.
The most commonly misapplied metric for Veea is the price-to-sales ratio, which obscures the company's high hardware-to-software mix and fails to account for the significant capital intensity required to maintain its proprietary edge computing infrastructure.
Using P/S as a primary valuation tool for Veea is misleading because it treats all revenue as equally scalable, whereas the company's hardware sales likely carry higher costs and lower long-term margins than its software services. Analysts should instead focus on the software attach rate and recurring revenue growth to better assess the company's transition from a hardware vendor to a platform provider.
Includes 30+ ratios · 5 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VEEA stock.
Veea Inc.'s current P/E ratio is -1.5x. This places it at the 50th percentile of its historical range.
Based on historical data, Veea Inc. is trading at a P/E of -1.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Veea Inc. has 68.5% gross margin and -7930.8% operating margin.