Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE N/A. (2008–2025 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 | $6M | $3M | $7M | $7M | $34M | $212M | $53M | $10M | $14M | $92M | $97M |
| Enterprise Value | $16M | $12M | $13M | $10M | $29M | $121M | $-21385627 | $23M | $19M | $92M | $86M |
| P/E Ratio → | -0.19 | — | — | — | — | 67.33 | — | — | — | — | — |
| P/S Ratio | 0.20 | 0.09 | 0.21 | 0.24 | 0.60 | 2.88 | 6.33 | 0.20 | 0.28 | 1.88 | 5.11 |
| P/B Ratio | — | — | 0.90 | 0.35 | 0.70 | 2.12 | 0.66 | — | 1.06 | 2.00 | 1.51 |
| P/FCF | — | — | — | — | — | 30.45 | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 14.58 | — | — | — | — | — |
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 | — | 0.43 | 0.39 | 0.33 | 0.51 | 1.64 | -2.55 | 0.47 | 0.38 | 1.88 | 4.51 |
| EV / EBITDA | — | — | — | — | — | 16.50 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 24.39 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | 17.30 | — | — | — | — | — |
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 | 22.7% | 22.7% | 26.3% | 12.2% | 21.5% | 43.9% | -42.9% | 22.0% | 21.2% | 19.4% | 32.4% |
| Operating Margin | -32.0% | -32.0% | -49.3% | -93.7% | -55.7% | 5.6% | -478.3% | -32.7% | -69.3% | -30.9% | -118.1% |
| Net Profit Margin | -58.2% | -58.2% | -49.7% | -92.1% | -58.7% | 4.5% | -1079.2% | -43.7% | -74.3% | -59.1% | -126.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -117.4% | -80.5% | -44.4% | 3.7% | -232.5% | -400.5% | -126.2% | -52.4% | -45.9% |
| ROA | -92.9% | -92.9% | -52.4% | -50.7% | -33.2% | 2.9% | -137.3% | -71.6% | -77.7% | -39.0% | -36.0% |
| ROIC | -124.8% | -124.8% | -66.7% | -63.5% | -91.2% | 43.4% | -364.9% | -82.8% | -81.1% | -22.9% | -47.0% |
| ROCE | -129.5% | -129.5% | -73.0% | -63.3% | -37.3% | 4.2% | -78.5% | -120.1% | -104.2% | -24.4% | -39.9% |
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 | — | — | 1.39 | 0.53 | 0.29 | 0.14 | 0.19 | — | 0.65 | 0.14 | 0.10 |
| Debt / EBITDA | — | — | — | — | — | 1.89 | — | — | — | — | — |
| Net Debt / Equity | — | — | 0.80 | 0.13 | -0.10 | -0.92 | -0.93 | — | 0.39 | 0.00 | -0.18 |
| Net Debt / EBITDA | — | — | — | — | — | -12.55 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | -13.15 | — | — | — | — | — |
| Interest Coverage | -118.98 | -118.98 | -67.60 | -60.11 | -53.14 | — | -13.51 | -6.13 | -18.65 | -20.89 | -10.35 |
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 | 0.46 | 0.46 | 1.66 | 2.85 | 4.32 | 5.50 | 6.81 | 0.24 | 0.35 | 1.29 | 2.00 |
| Quick Ratio | 0.42 | 0.42 | 1.61 | 2.75 | 4.21 | 5.41 | 6.76 | 0.20 | 0.30 | 1.20 | 1.75 |
| Cash Ratio | 0.20 | 0.20 | 1.28 | 2.47 | 3.85 | 5.32 | 6.66 | 0.13 | 0.20 | 0.51 | 1.52 |
| Asset Turnover | — | 2.60 | 1.34 | 0.77 | 0.79 | 0.58 | 0.08 | 1.69 | 1.64 | 0.75 | 0.23 |
| Inventory Turnover | 44.33 | 44.33 | 49.86 | 29.36 | 37.80 | 23.47 | 18.24 | 58.51 | 50.45 | 33.95 | 4.36 |
| Days Sales Outstanding | — | 19.49 | 19.31 | 20.21 | 18.65 | 3.04 | — | — | — | 5.98 | 8.64 |
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 | 5.1% | 10.4% | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | 1.5% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | 3.3% | — | — | — | — | — |
| Buyback Yield | 31.0% | 70.1% | 0.0% | 0.3% | 70.8% | 3.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 36.0% | 80.6% | 0.0% | 0.3% | 70.8% | 3.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $6M | $5M | $4M | $5M | $5M | $2M | $81722 | $24227 | $18572 | $12639 |
Liquidity exhaustion and insolvency
According to current market data, XWEL trades at a price-to-sales ratio of 0.23, a valuation level that suggests investors are pricing in significant terminal risk rather than growth, as the company lacks meaningful P/E or EV/EBITDA multiples due to persistent, deep net losses across all recent periods.
The absence of positive earnings multiples indicates that the market views XWEL as a distressed asset rather than a growth-oriented service provider. This valuation compression appears to be a direct consequence of the company's inability to demonstrate a clear path to profitability following the post-pandemic decline in diagnostic testing demand.
Based on reported financial statements, XWEL's return on invested capital has remained deeply negative, reaching -77.3% in 2025Q4, which highlights a fundamental inability to generate value from the capital deployed into airport leasehold improvements and the broader transition toward a diversified wellness and diagnostic service platform.
The consistent decay in ROIC suggests that the company's investments in physical infrastructure are not yielding sufficient returns to cover the associated fixed costs. Investors should monitor whether management can pivot toward less capital-intensive revenue streams, as the current model appears to be destroying shareholder value with every dollar of reinvestment.
As indicated by recent quarterly filings, XWEL's cash conversion cycle has exhibited extreme volatility, swinging from 14 days in 2023Q4 to -35 days in 2026Q1, reflecting an unstable operational environment where the company struggles to balance its payables against the rapid contraction of its core service revenue.
The erratic nature of the cash conversion cycle suggests that the company lacks a predictable mechanism for managing its working capital, likely exacerbated by the high fixed costs of airport concessions. This inefficiency warrants further investigation, as it complicates the company's ability to maintain liquidity during periods of declining foot traffic.
Based on the most recent quarterly data, XWEL's current ratio has fluctuated significantly, reaching 2.35 in 2026Q1, yet this figure masks a precarious cash position of only $2.6 million, which provides a dangerously thin buffer against the company's ongoing operational cash burn and fixed lease obligations.
While the current ratio may appear superficially adequate, the underlying cash depletion suggests that the company is highly vulnerable to any further disruption in travel patterns or unexpected operational costs. The reliance on external financing to bridge this liquidity gap appears increasingly likely, which could lead to significant shareholder dilution.
Analysts frequently misapply the price-to-sales ratio to XWEL, failing to account for the fact that the company's revenue is heavily burdened by high fixed airport concession fees, which renders top-line growth metrics largely irrelevant without a corresponding improvement in the underlying gross and operating margin structures.
Using P/S as a primary valuation tool obscures the reality that XWEL's revenue is not high-quality, as it is tied to expensive, non-negotiable leasehold costs. A more appropriate metric would be an analysis of contribution margin per square foot, which would better reflect the company's true ability to generate profit from its limited airport footprint.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying XWEL stock.
XWELL, Inc.'s current P/E ratio is -0.2x. The historical average is 67.3x.
Based on historical data, XWELL, Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
XWELL, Inc.'s current dividend yield is 5.05%.
XWELL, Inc. has 22.7% gross margin and -32.0% operating margin.