Latest Ratios: P/E Ratio -76.3x · EV/EBITDA N/A · ROE -20.9%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.7B | $3.0B | $2.1B | $1.7B | $1.5B | $2.4B | — | — |
| Enterprise Value | $5.0B | $3.4B | $2.4B | $2.0B | $1.8B | $2.3B | — | — |
| P/E Ratio → | -76.31 | — | — | — | — | — | — | — |
| P/S Ratio | 6.83 | 4.40 | 3.84 | 3.71 | 3.99 | 10.96 | — | — |
| P/B Ratio | 17.09 | 10.92 | 6.63 | 5.21 | 4.09 | 5.62 | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | 770.21 | 496.52 | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.89 | 4.34 | 4.24 | 4.61 | 10.66 | — | — |
| 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 39.1% | 39.1% | 39.5% | 38.5% | 38.3% | 26.2% | 23.5% | 18.4% |
| Operating Margin | -6.6% | -6.6% | -10.3% | -15.9% | -20.2% | -26.9% | -20.7% | -38.1% |
| Net Profit Margin | -9.0% | -9.0% | -9.2% | -14.6% | -20.8% | -28.1% | -22.0% | -38.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -20.9% | -20.9% | -15.6% | -19.2% | -19.8% | -39.1% | — | — |
| ROA | -8.9% | -8.9% | -7.3% | -9.4% | -12.8% | -20.8% | -37.4% | -40.0% |
| ROIC | -5.7% | -5.7% | -7.2% | -9.3% | -11.9% | -42.2% | — | — |
| ROCE | -7.5% | -7.5% | -9.1% | -11.4% | -13.8% | -23.7% | -52.1% | -49.6% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.26 | 1.26 | 0.94 | 0.91 | 0.81 | 0.05 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 1.21 | 0.86 | 0.74 | 0.64 | -0.15 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -11.46 | -11.46 | -9.61 | -13.18 | -16.88 | -71.04 | -27.54 | -127.61 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.76 | 3.76 | 4.38 | 4.28 | 6.05 | 2.87 | 2.02 | 4.13 |
| Quick Ratio | 3.72 | 3.72 | 4.33 | 4.25 | 6.02 | 2.83 | 1.96 | 4.04 |
| Cash Ratio | 2.46 | 2.46 | 3.21 | 3.23 | 4.99 | 2.05 | 1.56 | 3.22 |
| Asset Turnover | — | 0.98 | 0.80 | 0.66 | 0.52 | 0.43 | 1.59 | 1.04 |
| Inventory Turnover | 106.68 | 106.68 | 84.27 | 98.84 | 149.54 | 79.29 | 47.13 | 49.84 |
| Days Sales Outstanding | — | 51.76 | 49.49 | 55.22 | 47.22 | 54.21 | 37.62 | 56.44 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.2% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $51M | $49M | $48M | $47M | $47M | $44M | $44M |
Liquidity and solvency pressure
Based on reported figures, Xometry trades at a 6.92x price-to-sales multiple, which appears aggressive given the company's persistent negative net margins and the lack of a positive P/E ratio, suggesting that market participants are pricing in significant future growth rather than current fundamental performance.
The absence of a positive P/E ratio forces reliance on revenue-based multiples, which may obscure the underlying cost of acquiring that growth. Investors should monitor whether the current valuation premium can be sustained if the company fails to demonstrate a clear path toward GAAP profitability in the coming quarters.
According to recent financial statements, Xometry's ROIC has consistently languished in negative territory, reaching -0.6% in 2026Q1, which indicates that the company is currently destroying rather than compounding invested capital as it prioritizes aggressive market share expansion over immediate operational efficiency.
The persistent negative return on capital suggests that the platform's current scale is insufficient to cover the high costs of its proprietary pricing engine and customer acquisition. This trend warrants further investigation into whether the company's capital allocation strategy can eventually pivot toward generating positive returns as the marketplace matures.
As reported in quarterly filings, Xometry's cash conversion cycle has fluctuated significantly, with a 12-day cycle in 2026Q1, suggesting that the company relies heavily on timing differences between supplier payouts and customer receipts to manage its constrained liquidity position in the face of ongoing losses.
The reliance on working capital management to support cash flow may indicate that the company's underlying operational efficiency is not yet self-sustaining. Investors should monitor whether these timing advantages are structural or if they represent a temporary buffer that could evaporate during periods of slower transaction volume.
Based on the provided financial data, Xometry's debt-to-equity ratio has climbed to 1.20 as of 2026Q1, signaling that the company is increasingly reliant on external financing to fund its operations, which heightens the risk profile for equity holders in a high-interest rate environment.
The rising leverage, coupled with negative interest coverage ratios, suggests that debt service may become a significant burden if the company does not reach cash flow neutrality soon. This trend appears to indicate that the firm's growth strategy is becoming increasingly sensitive to capital market conditions.
The most commonly misapplied metric for Xometry is the gross revenue figure, which, according to financial disclosures, includes the full price of manufactured parts, thereby masking the company's true economic scale as a marketplace platform that primarily earns a take-rate spread on transactions.
Analysts should instead focus on gross profit and take-rate efficiency to understand the true earning power of the business model. Relying on top-line revenue growth can lead to an overestimation of the company's market power and a misunderstanding of its actual margin profile.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying XMTR stock.
Xometry, Inc.'s current P/E ratio is -76.3x. This places it at the 50th percentile of its historical range.
Xometry, Inc.'s return on equity (ROE) is -20.9%. The historical average is -22.9%.
Based on historical data, Xometry, Inc. is trading at a P/E of -76.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xometry, Inc. has 39.1% gross margin and -6.6% operating margin.