Latest Ratios: P/E Ratio -6.4x · EV/EBITDA 57.8x · ROE -12.4%. (2002–2025 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 | $901M | $661M | $463M | $474M | $362M | $789M | $872M | — | — | — | — |
| Enterprise Value | $858M | $617M | $417M | $427M | $312M | $732M | $862M | — | — | — | — |
| P/E Ratio → | -6.41 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.01 | 1.47 | 0.94 | 0.91 | 0.72 | 1.62 | 2.32 | — | — | — | — |
| P/B Ratio | 1.85 | 1.37 | 1.08 | 1.22 | 0.81 | 0.78 | 0.81 | — | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | 7645.04 | — | — | — | — | — | — | — |
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 | — | 1.38 | 0.85 | 0.82 | 0.62 | 1.50 | 2.29 | — | — | — | — |
| EV / EBITDA | 57.75 | 41.57 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 28.62 | — | — | — | — | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 71.7% | 71.7% | 77.0% | 77.2% | 75.5% | 74.2% | 79.3% | 97.0% | 96.7% | 98.3% | 99.8% |
| Operating Margin | -9.8% | -9.8% | -17.6% | -24.9% | -149.2% | -33.3% | -40.6% | -20.8% | 8.4% | -8.0% | 35.9% |
| Net Profit Margin | -12.6% | -12.6% | -2.8% | -26.2% | -150.8% | -36.1% | -36.8% | -22.9% | -0.4% | -15.1% | 21.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -12.4% | -12.4% | -3.4% | -32.7% | -103.4% | -16.8% | -15.4% | -9.6% | -0.3% | -12.0% | 11.0% |
| ROA | -6.6% | -6.6% | -2.1% | -19.4% | -77.1% | -13.8% | -13.2% | -6.4% | -0.2% | -4.9% | 6.5% |
| ROIC | -8.0% | -8.0% | -18.0% | -26.3% | -82.8% | -12.0% | -13.1% | -5.2% | 2.7% | -2.4% | 9.2% |
| ROCE | -6.1% | -6.1% | -17.6% | -23.7% | -88.4% | -14.2% | -16.0% | -6.1% | 3.1% | -2.8% | 11.3% |
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 | 0.06 | 0.06 | 0.20 | 0.25 | 0.24 | 0.06 | 0.07 | 0.01 | 0.78 | 1.33 | 1.15 |
| Debt / EBITDA | 2.00 | 2.00 | — | — | — | — | — | 0.19 | 3.23 | 6.51 | 4.58 |
| Net Debt / Equity | — | -0.09 | -0.11 | -0.12 | -0.11 | -0.06 | -0.01 | -0.05 | 0.60 | 1.01 | 1.02 |
| Net Debt / EBITDA | -2.92 | -2.92 | — | — | — | — | — | -0.78 | 2.47 | 4.96 | 4.07 |
| Debt / FCF | — | — | — | — | — | — | — | -0.24 | 2.89 | 3.07 | 3.91 |
| Interest Coverage | -0.01 | -0.01 | 4.85 | -42.22 | -493.46 | -53.94 | — | -2.55 | 1.27 | -1.06 | 38.66 |
Net cash position: cash ($73M) exceeds total debt ($30M)
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 | 3.81 | 3.81 | 1.64 | 1.92 | 2.21 | 2.31 | 1.76 | 3.99 | 7.34 | 2.54 | 3.92 |
| Quick Ratio | 3.81 | 3.81 | 1.64 | 1.88 | 2.17 | 2.27 | 1.69 | 3.98 | 7.34 | 2.54 | 3.92 |
| Cash Ratio | 1.71 | 1.71 | 0.70 | 0.86 | 1.07 | 1.01 | 0.59 | 1.43 | 2.85 | 2.07 | 2.22 |
| Asset Turnover | — | 0.43 | 0.74 | 0.77 | 0.68 | 0.40 | 0.28 | 0.37 | 0.33 | 0.34 | 0.22 |
| Inventory Turnover | — | — | 107.22 | 16.30 | 18.45 | 24.62 | 7.92 | 107.09 | — | — | — |
| Days Sales Outstanding | — | 169.39 | 104.85 | 84.08 | 94.45 | 97.88 | 135.78 | 101.73 | 202.87 | 27.22 | 95.76 |
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 | — | — | — | — | 5.8% | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.1% | 0.2% | 4.3% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.1% | 0.2% | 4.3% | 0.0% | 5.8% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $113M | $45M | $43M | $42M | $42M | $42M | $49M | $49M | $49M | $50M |
Platform monetization and scale
According to current market data, Xperi trades at a forward P/E of 8.71, a multiple that suggests investors are pricing the firm as a declining legacy licensing entity rather than a high-growth platform play, despite the company's ongoing strategic pivot toward ad-supported media and automotive software.
The valuation gap between Xperi and high-growth peers like Roku implies that the market remains unconvinced of the company's ability to successfully scale its TiVo OS footprint. Investors should monitor whether the current P/S of 2.06 represents a value opportunity or a value trap, as the market appears to be discounting the long-term monetization potential of the DTS AutoStage platform.
Based on reported financial figures, Xperi's ROIC has struggled to maintain positive territory, fluctuating between -6.8% and 5.9% over the last ten quarters, which indicates that the company is currently failing to generate returns that exceed its cost of capital during this intensive investment phase.
The volatility in ROIC reflects the heavy R&D and SG&A burdens required to maintain the software stack, which have yet to be offset by sufficient high-margin advertising revenue. This trend suggests that until the Media Platform achieves critical mass, the company will likely continue to experience significant erosion in its ability to compound invested capital efficiently.
As reported in recent financial statements, Xperi's Days Sales Outstanding (DSO) has trended upward from 82 days in 2023Q4 to 175 days in 2026Q1, suggesting that the company is facing increasing difficulty in collecting payments from its OEM partners as it shifts its business model.
The lengthening DSO warrants further investigation, as it may indicate either a shift in the credit quality of the customer base or a change in the underlying royalty payment terms. This inefficiency in the cash conversion cycle highlights the operational friction inherent in transitioning from fixed-fee licensing to more complex, transactional advertising-based revenue streams.
According to the company's balance sheet data, Xperi has maintained a disciplined capital structure, with a debt-to-equity ratio of 0.06 as of 2026Q1, which provides a necessary buffer against the ongoing operating losses and the inherent volatility of the platform pivot strategy.
The low leverage profile is a critical strength, as it minimizes interest coverage risks during a period where the company is not yet consistently generating positive operating income. This financial flexibility appears to be a deliberate management choice to ensure the company can fund its R&D requirements without relying on external financing in a high-rate environment.
The most commonly misapplied metric for Xperi is the traditional P/E ratio, which obscures the company's true economic reality by failing to account for the heavy non-cash amortization and stock-based compensation expenses that currently mask the underlying cash-generating potential of the platform business.
Analysts should instead focus on ARPU and platform-specific engagement metrics, as the P/E ratio is fundamentally ill-suited for a company in the midst of a transition from a high-margin IP licensing model to a lower-margin, scale-dependent advertising model. Relying on earnings-based multiples during this pivot may lead to an inaccurate assessment of the company's long-term value creation.
Includes 30+ ratios · 24 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying XPER stock.
Xperi Inc.'s current P/E ratio is -6.4x. This places it at the 50th percentile of its historical range.
Xperi Inc.'s current EV/EBITDA is 57.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 41.6x.
Xperi Inc.'s return on equity (ROE) is -12.4%. The historical average is 0.8%.
Based on historical data, Xperi Inc. is trading at a P/E of -6.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xperi Inc. has 71.7% gross margin and -9.8% operating margin.
Xperi Inc.'s Debt/EBITDA ratio is 2.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.