Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -51.1%. (2006–2025 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 | $1M | $43M | $16M | $28M | $18M | $14M | $12M | $11M | $11M | $9M | $7M |
| Enterprise Value | $-1460886 | $40M | $20M | $42M | $20M | $15M | $12M | $12M | $12M | $5M | $-6160257 |
| P/E Ratio → | -0.08 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.21 | 6.03 | 1.31 | 0.87 | 0.44 | 0.45 | 0.43 | 0.43 | 0.42 | 0.54 | 0.57 |
| P/B Ratio | 0.05 | 2.70 | 3.88 | — | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
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 | — | 5.62 | 1.66 | 1.31 | 0.50 | 0.48 | 0.42 | 0.46 | 0.45 | 0.32 | -0.50 |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -44.5% | -44.5% | -20.2% | -27.0% | 4.6% | 4.8% | 5.1% | 0.1% | 3.4% | -4.3% | -3.5% |
| Operating Margin | -162.0% | -162.0% | -117.4% | -139.5% | -83.0% | -91.8% | -68.2% | -91.2% | -90.9% | -80.1% | -92.7% |
| Net Profit Margin | -71.7% | -71.7% | -127.7% | -437.1% | -147.7% | -105.4% | -70.1% | -102.8% | -30.1% | -78.5% | -94.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -51.1% | -51.1% | -378.0% | -321.5% | -73.8% | -59.2% | -37.1% | -39.8% | -10.9% | -26.1% | -64.2% |
| ROA | -20.8% | -20.8% | -61.7% | -198.1% | -62.7% | -51.1% | -32.7% | -36.3% | -10.1% | -24.3% | -50.3% |
| ROIC | -81.4% | -81.4% | -148.2% | -64.6% | -30.5% | -38.4% | -26.9% | -26.1% | -25.0% | -24.1% | -86.5% |
| ROCE | -72.6% | -72.6% | -196.8% | -86.3% | -39.8% | -50.8% | -35.7% | -34.8% | -32.6% | -26.6% | -57.6% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.27 | 0.27 | 2.15 | — | 0.05 | 0.04 | 0.02 | 0.02 | 0.02 | — | 0.01 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.19 | 1.05 | — | 0.03 | 0.02 | -0.01 | 0.02 | 0.01 | -0.05 | -0.54 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -8.03 | -8.03 | -6.39 | -4.83 | -663.22 | -560.98 | -272.24 | -473.25 | -727.30 | -446.67 | -305.83 |
Net cash position: cash ($7M) exceeds total debt ($4M)
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 | 2.42 | 2.42 | 1.16 | 0.65 | 3.43 | 6.45 | 3.86 | 7.39 | 11.83 | 15.68 | 5.17 |
| Quick Ratio | 1.83 | 1.83 | 0.95 | 0.48 | 2.87 | 6.11 | 3.58 | 7.00 | 11.24 | 14.92 | 4.22 |
| Cash Ratio | 0.98 | 0.98 | 0.44 | 0.08 | 1.57 | 5.78 | 3.04 | 6.74 | 10.89 | 14.52 | 4.14 |
| Asset Turnover | — | 0.26 | 0.55 | 1.17 | 0.35 | 0.41 | 0.54 | 0.37 | 0.34 | 0.21 | 0.44 |
| Inventory Turnover | 2.35 | 2.35 | 7.09 | 9.41 | 5.32 | 10.23 | 13.11 | 11.39 | 8.39 | 5.27 | 4.11 |
| Days Sales Outstanding | — | 186.10 | 67.54 | 18.94 | 12.28 | 6.90 | 28.03 | 12.25 | 12.03 | 21.04 | 1.22 |
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 | — | — | 66.3% | — | — | — | — | — | — | — | — |
| 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 | 0.0% | 0.0% | 0.0% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 66.3% | 0.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $184066 | $424 | $28 | $18 | $14 | $12 | $11 | $11 | $9 | $7 |
Imminent liquidity and solvency
According to recent market data, XXII trades at a P/S ratio of 0.19, a valuation multiple that suggests investors are pricing the company as a distressed option rather than a traditional consumer defensive entity, given the absence of meaningful earnings or positive free cash flow generation.
The lack of a forward P/E or EV/EBITDA multiple highlights the market's inability to anchor valuation to fundamental performance. This pricing suggests that the equity is viewed primarily as a speculative play on regulatory outcomes rather than a business with a predictable path to profitability.
Based on reported financial figures, the company's ROIC has remained deeply negative, reaching -17.7% in 2026Q1, which indicates that capital deployed into the business is currently failing to generate any economic return, let alone exceeding the firm's cost of capital.
The consistent decay in returns on invested capital reflects a structural inability to convert R&D and manufacturing investments into profitable sales. This trend suggests that the company's current business model is fundamentally value-destructive and requires a significant pivot to achieve positive compounding.
As reported in quarterly filings, the cash conversion cycle reached 154 days in 2026Q1, a significant increase from previous periods that highlights the company's struggle to efficiently manage inventory and collect receivables while maintaining a lean operational footprint.
The elevated CCC suggests that capital is being trapped in inventory and slow-moving receivables, further exacerbating the company's liquidity constraints. Investors should monitor whether these efficiency metrics can improve as the company attempts to scale its proprietary VLN product line.
According to the latest balance sheet data, the quick ratio of 2.12 in 2026Q1 may provide a misleading sense of security, as the company's persistent operating losses and limited cash reserves suggest a high vulnerability to any further delays in commercial traction.
While the current ratio appears adequate on paper, the underlying cash burn rate indicates that the company's liquidity position is highly fragile. The reliance on external financing to bridge the gap between operational outflows and revenue suggests that solvency risk remains a primary concern for stakeholders.
The most commonly misapplied metric for XXII is the P/E ratio, which obscures the company's lack of operational scale and its status as a pre-commercial biotech-style entity rather than a mature, cash-generative tobacco firm like its peers.
Applying traditional tobacco valuation multiples to XXII is fundamentally flawed because it ignores the company's negative gross margins and lack of established brand loyalty. Analysts should instead focus on cash burn rates and regulatory milestones as the primary indicators of business viability.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying XXII stock.
22nd Century Group, Inc.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
22nd Century Group, Inc.'s return on equity (ROE) is -51.1%. The historical average is -106.7%.
Based on historical data, 22nd Century Group, Inc. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
22nd Century Group, Inc. has -44.5% gross margin and -162.0% operating margin.