Latest Ratios: P/E Ratio 2.8x · EV/EBITDA -2.5x · ROE 9.2%. (2016–2025 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $55M | $129M | $101M | $69M | $74M | $178M | $370M | $578M | $207M | — | — |
| Enterprise Value | $-46386457 | $-723750350 | $-766518005 | $-161075138 | $-514217141 | $-373881628 | $-112779856 | $-277693054 | $-727598972 | — | — |
| P/E Ratio → | 2.81 | 0.94 | 0.69 | — | — | 2.02 | 2.15 | 1.99 | 3.17 | — | — |
| P/S Ratio | 0.16 | 0.05 | 0.05 | 0.03 | 0.04 | 0.03 | 0.06 | 0.12 | 0.08 | — | — |
| P/B Ratio | 0.25 | 0.08 | 0.07 | 0.05 | 0.05 | 0.11 | 0.24 | 0.42 | 0.19 | — | — |
| P/FCF | 3.30 | 1.15 | 0.15 | — | — | 5.59 | 2.75 | 21.11 | 0.99 | — | — |
| P/OCF | 2.41 | 0.84 | 0.14 | — | — | 3.72 | 2.00 | 16.28 | 0.93 | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | -0.31 | -0.36 | -0.06 | -0.29 | -0.07 | -0.02 | -0.06 | -0.28 | — | — |
| EV / EBITDA | -2.54 | -5.82 | -3.47 | — | -5.43 | -2.73 | -0.47 | -0.83 | -8.81 | — | — |
| EV / EBIT | -3.79 | -4.81 | -4.74 | — | -7.60 | -3.95 | -0.61 | -0.89 | -8.11 | — | — |
| EV / FCF | — | -6.41 | -1.12 | — | — | -11.73 | -0.84 | -10.13 | -3.49 | — | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 25.3% | 25.3% | 25.9% | 22.8% | 33.2% | 22.6% | 18.6% | 23.3% | 28.0% | 31.5% | 25.6% |
| Operating Margin | 3.5% | 3.5% | 7.4% | -4.8% | 3.1% | 1.2% | 3.2% | 6.7% | 3.1% | 12.1% | 4.6% |
| Net Profit Margin | 5.8% | 5.8% | 3.0% | -3.4% | -15.4% | 1.7% | 3.0% | 6.3% | 2.6% | 10.7% | 5.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 9.2% | 9.2% | 4.5% | -6.1% | -17.9% | 5.6% | 11.9% | 23.9% | 10.0% | 48.6% | 11.2% |
| ROA | 5.5% | 5.5% | 2.4% | -3.0% | -8.9% | 2.7% | 5.6% | 11.8% | 5.0% | 19.6% | 5.8% |
| ROIC | 8.7% | 8.7% | 13.8% | -9.1% | 4.2% | 4.5% | 17.6% | 71.3% | 94.6% | 1391.7% | 52.7% |
| ROCE | 5.2% | 5.2% | 10.3% | -7.8% | 3.4% | 4.0% | 12.5% | 25.3% | 12.3% | 54.9% | 9.9% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.08 | 0.08 | 0.11 | 0.19 | 0.10 | 0.02 | 0.01 | 0.08 | 0.01 | 0.14 | 0.22 |
| Debt / EBITDA | 0.95 | 0.95 | 0.72 | — | 1.57 | 0.26 | 0.09 | 0.35 | 0.07 | 0.30 | 2.08 |
| Net Debt / Equity | — | -0.56 | -0.60 | -0.17 | -0.41 | -0.33 | -0.32 | -0.62 | -0.87 | -1.04 | -0.86 |
| Net Debt / EBITDA | -6.87 | -6.87 | -3.92 | — | -6.21 | -4.03 | -2.03 | -2.56 | -11.32 | -2.31 | -8.03 |
| Debt / FCF | — | -7.55 | -1.26 | — | — | -17.32 | -3.58 | -31.24 | -4.48 | -2.02 | -8.98 |
| Interest Coverage | — | — | — | — | — | — | — | — | 269.50 | 85.94 | 10.41 |
Net cash position: cash ($807M) exceeds total debt ($119M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.60 | 2.60 | 2.07 | 1.80 | 1.88 | 1.85 | 1.79 | 1.78 | 2.23 | 1.54 | 2.02 |
| Quick Ratio | 2.43 | 2.43 | 1.97 | 1.45 | 1.50 | 1.49 | 1.53 | 1.52 | 1.96 | 1.42 | 1.84 |
| Cash Ratio | 1.52 | 1.52 | 1.16 | 0.76 | 0.83 | 0.92 | 0.74 | 0.83 | 1.30 | 0.65 | 1.15 |
| Asset Turnover | — | 0.99 | 0.82 | 0.91 | 0.62 | 1.62 | 1.83 | 1.54 | 1.33 | 1.30 | 1.11 |
| Inventory Turnover | 13.89 | 13.89 | 13.98 | 4.35 | 2.38 | 7.12 | 10.79 | 8.53 | 7.95 | 11.80 | 9.61 |
| Days Sales Outstanding | — | 56.42 | 105.99 | 80.70 | 127.87 | 42.89 | 64.94 | 80.43 | 53.11 | 106.13 | 52.57 |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | 10.9% | 32.4% | — | — | — | — | 0.3% | 1.2% | — | — | — |
| Payout Ratio | 30.5% | 30.5% | — | — | — | — | 0.7% | 2.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 35.6% | 106.0% | 145.9% | — | — | 49.6% | 46.6% | 50.4% | 31.5% | — | — |
| FCF Yield | 30.3% | 87.3% | 683.3% | — | — | 17.9% | 36.4% | 4.7% | 100.8% | — | — |
| Buyback Yield | 4.7% | 13.7% | 4.3% | 9.4% | 10.8% | 1.1% | 14.8% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 15.6% | 46.1% | 4.3% | 9.4% | 10.8% | 1.1% | 15.1% | 1.2% | 0.0% | — | — |
| Shares Outstanding | — | $70M | $69M | $69M | $69M | $74M | $72M | $72M | $27M | $9M | $7M |
Xiaomi ecosystem dependency concentration
According to current market data, Viomi trades at a P/S ratio of 0.16 and a P/E of 2.79, suggesting that investors are heavily discounting the company's future earnings potential due to its structural reliance on the Xiaomi ecosystem and broader concerns regarding the Chinese consumer appliance market.
The extremely low valuation multiples appear to indicate that the market views Viomi as a commoditized hardware reseller rather than a high-growth IoT platform. Investors should monitor whether this valuation gap persists or if the company can demonstrate independent brand equity that justifies a re-rating relative to its peers.
Based on reported financial figures, Viomi's ROIC has fluctuated significantly, moving from a negative 12.0% in 2022Q3 to a positive 4.5% in 2025Q2, which highlights the difficulty the company faces in consistently generating value from its invested capital within a highly competitive and cyclical industry environment.
The recent improvement in ROIC suggests a stabilization in operational efficiency, yet the historical volatility warrants caution regarding the sustainability of these returns. The company's ability to compound capital appears constrained by thin margins and the necessity of heavy marketing spend to maintain its position within the Xiaomi ecosystem.
As reported in recent financial statements, Viomi's cash conversion cycle reached -45 days in 2025Q2, a marked improvement from the 134-day cycle observed in 2023Q4, indicating that the company is successfully leveraging its supplier relationships to optimize its working capital position amidst fluctuating demand cycles.
The shift to a negative cash conversion cycle suggests that Viomi is effectively collecting from customers faster than it pays its suppliers, which is a critical advantage for an asset-light business model. However, investors should monitor whether this efficiency is sustainable or if it relies on aggressive payment terms that could be renegotiated by suppliers.
Analysis of Viomi's financial structure reveals that the P/E ratio is a fundamentally misapplied metric for this business model, as it obscures the impact of non-recurring items and the significant cash balance that currently represents a large portion of the company's total market capitalization.
Using P/E to value Viomi ignores the fact that a substantial portion of the company's value is tied to its cash reserves rather than its core operating earnings. A more appropriate approach would involve an EV/EBITDA analysis, adjusted for the company's unique relationship with its primary ecosystem partner, to better capture the underlying earning power of the IoT hardware segment.
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Quick answers to the most common questions about buying VIOT stock.
Viomi Technology Co., Ltd's current P/E ratio is 2.8x. The historical average is 1.8x. This places it at the 83th percentile of its historical range.
Viomi Technology Co., Ltd's current EV/EBITDA is -2.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
Viomi Technology Co., Ltd's return on equity (ROE) is 9.2%. The historical average is 10.1%.
Based on historical data, Viomi Technology Co., Ltd is trading at a P/E of 2.8x. This is at the 83th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Viomi Technology Co., Ltd's current dividend yield is 10.89% with a payout ratio of 30.5%.
Viomi Technology Co., Ltd has 25.3% gross margin and 3.5% operating margin.
Viomi Technology Co., Ltd's Debt/EBITDA ratio is 1.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.