Latest Ratios: P/E Ratio -0.3x · 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 | $3M | $4M | $6M | — | — | — |
| Enterprise Value | $22M | $23M | $17M | — | — | — |
| P/E Ratio → | -0.33 | — | — | — | — | — |
| P/S Ratio | 11.37 | 16.35 | 40.53 | — | — | — |
| 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 | — | 104.75 | 119.77 | — | — | — |
| 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 |
Critical liquidity and insolvency
Based on reported financial data, Veea's price-to-sales ratio of 14.21x appears disconnected from its nascent revenue base, suggesting that market participants are pricing the equity as a high-risk venture-stage call option rather than a traditional IT services firm with established, predictable cash flows or earnings.
The current valuation multiple reflects extreme optimism regarding the company's edge-computing platform potential, which is not yet supported by the underlying financial performance. Investors should monitor whether this premium can be sustained as the company faces the likely necessity of dilutive capital raises to fund its ongoing operations.
As reported in recent financial statements, Veea's gross margin volatility, which swung from a negative 26.2% in 2026Q1 to a peak of 93.7% in 2025Q2, highlights the lack of a standardized cost structure and underscores the company's inability to achieve consistent profitability at its current scale.
While the high theoretical gross margins suggest potential for future software-driven profitability, the operating margin of -7930.79% indicates that fixed costs are currently overwhelming the business. This disconnect suggests that the company is built for a throughput level that remains far beyond its current commercial reality.
According to quarterly filings, Veea's cash conversion cycle is highly erratic, with figures reaching as high as 43,848 days in 2025Q4, which suggests significant friction in the company's ability to convert inventory and receivables into cash within a reasonable timeframe for an IT services provider.
The extreme volatility in days sales outstanding and days inventory outstanding implies that the company's operational processes are not yet optimized for efficiency. This lack of working capital discipline warrants further investigation into the underlying project-based billing cycles and the potential for inventory obsolescence.
Based on the reported figures, Veea's cash position of $133,860 against multi-million dollar quarterly operating losses suggests a critical liquidity risk that may necessitate immediate dilutive financing or raise significant concerns regarding the company's ability to continue as a going concern in the near term.
The current ratio of 1.14 in 2026Q1 provides a misleading sense of security, as the quick ratio of 0.50 reveals a heavy reliance on inventory that may not be easily liquidated. Investors should interpret these figures as a warning that the company's liquidity position is highly precarious.
The most commonly misapplied metric for Veea is the price-to-sales ratio, which obscures the company's fundamental liquidity crisis and the lack of a sustainable, recurring revenue model, making it an inappropriate tool for assessing the firm's true enterprise value or its long-term viability as a going concern.
Instead of relying on revenue multiples, analysts should focus on the cash burn rate and the remaining runway, as these metrics provide a more accurate picture of the company's survival risk. The current focus on P/S ratios ignores the reality that the company's primary challenge is not growth, but solvency.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VEEAW stock.
Veea Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Based on historical data, Veea Inc. is trading at a P/E of -0.3x. 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.