Latest Ratios: P/E Ratio -1.2x · EV/EBITDA N/A · ROE -739.9%. (1996–2025 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 | $1.8B | $19M | $955M | $2.1B | $2.9B | $3.7B | $2.1B | $1.9B | $1.6B | $834M | $812M |
| Enterprise Value | $7.9B | $6.1B | $6.1B | $4.5B | $3.4B | $4.2B | $2.5B | $1.9B | $1.8B | $846M | $806M |
| P/E Ratio → | -1.16 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.35 | 0.02 | 1.18 | 2.71 | 5.01 | 7.04 | 4.42 | 1.80 | 1.71 | 0.57 | 0.50 |
| P/B Ratio | — | — | 1.08 | 1.27 | 1.17 | 1.75 | 1.00 | 0.95 | 0.76 | 0.38 | 0.34 |
| P/FCF | — | — | — | — | — | — | — | 32.45 | — | 6.47 | 9.75 |
| P/OCF | — | — | — | — | — | — | — | 9.61 | 9.13 | 3.86 | 4.00 |
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 | — | 8.05 | 7.53 | 5.91 | 6.02 | 7.95 | 5.21 | 1.77 | 1.90 | 0.57 | 0.50 |
| EV / EBITDA | — | — | — | — | — | — | — | 13.87 | 15.48 | 6.94 | 4.77 |
| EV / EBIT | — | — | — | — | — | — | — | 123.36 | 924.98 | — | 82.41 |
| EV / FCF | — | — | — | — | — | — | — | 31.92 | — | 6.56 | 9.68 |
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 | -16.1% | -16.1% | 9.6% | 32.0% | 36.4% | 28.6% | 30.6% | 34.8% | 32.5% | 29.8% | 29.6% |
| Operating Margin | -175.4% | -175.4% | -55.2% | -41.1% | -35.5% | -40.4% | -40.7% | 1.4% | 0.2% | -1.9% | 0.6% |
| Net Profit Margin | -212.4% | -212.4% | -107.1% | -43.5% | -35.1% | -99.7% | -40.7% | -28.6% | -30.3% | -6.7% | -1.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -739.9% | -739.9% | -69.0% | -16.2% | -8.8% | -24.9% | -9.3% | -15.0% | -13.0% | -4.3% | -0.9% |
| ROA | -21.7% | -21.7% | -11.9% | -6.3% | -5.5% | -15.7% | -6.3% | -11.3% | -10.6% | -3.6% | -0.8% |
| ROIC | -17.1% | -17.1% | -6.6% | -6.6% | -5.4% | -6.3% | -6.4% | 0.5% | 0.1% | -0.9% | 0.3% |
| ROCE | -37.5% | -37.5% | -6.7% | -6.6% | -6.2% | -7.1% | -7.0% | 0.6% | 0.1% | -1.2% | 0.4% |
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 | — | — | 7.00 | 2.58 | 0.42 | 0.41 | 0.39 | 0.23 | 0.14 | 0.07 | 0.07 |
| Debt / EBITDA | — | — | — | — | — | — | — | 3.40 | 2.57 | 1.19 | 0.95 |
| Net Debt / Equity | — | — | 5.81 | 1.50 | 0.24 | 0.23 | 0.18 | -0.02 | 0.08 | 0.01 | -0.00 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | -0.23 | 1.53 | 0.10 | -0.04 |
| Debt / FCF | — | — | — | — | — | — | — | -0.52 | — | 0.10 | -0.07 |
| Interest Coverage | -4.14 | -4.14 | -1.32 | -5.10 | -8.64 | -4.67 | -5.50 | 1.29 | — | — | — |
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 | 0.36 | 0.36 | 4.51 | 5.74 | 4.54 | 3.29 | 5.47 | 5.27 | 3.58 | 5.19 | 5.19 |
| Quick Ratio | 0.29 | 0.29 | 3.82 | 5.28 | 3.94 | 2.92 | 5.05 | 4.57 | 2.97 | 3.85 | 3.83 |
| Cash Ratio | 0.15 | 0.15 | 3.27 | 4.71 | 3.09 | 2.57 | 4.26 | 3.92 | 1.56 | 2.88 | 2.71 |
| Asset Turnover | — | 0.11 | 0.10 | 0.12 | 0.15 | 0.15 | 0.15 | 0.38 | 0.35 | 0.56 | 0.58 |
| Inventory Turnover | 1.95 | 1.95 | 1.58 | 1.79 | 1.58 | 2.25 | 2.68 | 3.76 | 4.12 | 3.64 | 3.75 |
| Days Sales Outstanding | — | 426.43 | 130.54 | 127.67 | 188.21 | 71.04 | 61.26 | 43.63 | 35.00 | 38.76 | 38.81 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 3.1% | — | 15.5% | 10.3% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 12.5% | 18.4% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 12.5% | 18.4% |
| Shares Outstanding | — | $47M | $42M | $42M | $40M | $38M | $36M | $35M | $33M | $33M | $34M |
200mm yield ramp failure
According to recent market data, Wolfspeed trades at a price-to-sales ratio of 2.72, a multiple that appears disconnected from the company's negative margins and suggests investors are pricing in a successful 200mm yield ramp that remains unproven in the current income statement.
The lack of a meaningful P/E or EV/EBITDA ratio reflects the company's current status as a pre-profit scale-up rather than a mature semiconductor manufacturer. This valuation premium warrants caution, as it implies a high-growth trajectory that is currently being undermined by persistent revenue contraction and significant operational losses.
As reported in financial statements, Wolfspeed's ROIC has remained consistently negative, reaching -4.2% in 2026Q3, which highlights the company's inability to generate returns on its massive capital investments while it struggles to stabilize yields at the new Mohawk Valley and Siler City fabrication facilities.
The persistent decay in return on invested capital suggests that the company's aggressive expansion strategy is currently destroying shareholder value rather than compounding it. Investors should monitor whether the eventual stabilization of 200mm production can reverse this trend, or if the high fixed-cost base will continue to suppress returns indefinitely.
Based on the company's quarterly filings, the cash conversion cycle has ballooned to 210 days in 2026Q3, a significant deterioration that reflects inefficient inventory management and a growing reliance on extended supplier payment terms to preserve liquidity during this capital-intensive transition phase.
The elevated days inventory outstanding, which reached 151 days, suggests that the company is struggling to move product through its supply chain, likely due to the cooling demand in the electric vehicle market. This inefficiency in working capital management further exacerbates the company's cash burn and limits its operational flexibility.
According to recent balance sheet disclosures, Wolfspeed's debt-to-equity ratio of 1.69 in 2026Q3, combined with negative interest coverage, indicates that the company's ability to service its obligations is highly precarious and dependent on continued access to external capital markets.
The company's reliance on debt to fund its multi-billion dollar capital projects creates a significant vulnerability to interest rate fluctuations and market sentiment. The negative interest coverage ratio suggests that the firm is currently unable to cover its financing costs from operations, necessitating further scrutiny of its long-term solvency.
Financial analysts frequently misapply adjusted EBITDA to Wolfspeed, as this metric obscures the massive, recurring underutilization charges and start-up costs that are fundamental to the company's current business model and cash burn profile.
By excluding these critical costs, adjusted EBITDA provides a misleading picture of the company's earning power and masks the true extent of its capital-intensive transition. Investors should instead focus on free cash flow and GAAP operating margins to better understand the actual cash requirements and operational viability of the firm.
Includes 30+ ratios · 30 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WOLF stock.
Wolfspeed, Inc.'s current P/E ratio is -1.2x. The historical average is 30.3x.
Wolfspeed, Inc.'s return on equity (ROE) is -739.9%. The historical average is -1.8%.
Based on historical data, Wolfspeed, Inc. is trading at a P/E of -1.2x. Compare with industry peers and growth rates for a complete picture.
Wolfspeed, Inc. has -16.1% gross margin and -175.4% operating margin.