What is SES AI's price / book?

SES AI (SES) reported price / book of 1.7× in Q1 2026.

How has SES AI's price / book changed year-over-year?

SES AI's price / book increased by 146.6% year-over-year, from 0.7× to 1.7×.

What is the long-term trend for SES AI's price / book?

Over 3 years (2022 to 2025), SES AI's price / book has grown at a 2.8% compound annual growth rate (CAGR), from 2.8× to 3.1×.

What does price / book mean?

Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.

SES AI SES Price / book

Price / book at other companies

QuantumScape Corporation QS

3.5×+1.5×

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1.3×+0.8×

Enovix CorporationENVX

4.7×-1.3×

Amprius TechnologiesAMPX

21.1×+16.6×

Microvast Holdings, Inc.MVST

1.1×+0.2×

American Battery Technology CompanyABAT

3.3×+1.9×

Other financials

Income statement

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Revenue$6.7M+15.8%

Gross profit$1.2M-73.3%

Operating income-$17.9M+23.2%

Net income-$12.1M+2.7%

EPS (diluted)-$0.040.0%

Balance sheet

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Cash & equivalents$46.9M-16.3%

Total debt$7.7M-18.9%

Total equity$203.2M-24.7%

Total assets$253.5M-17.1%

Cash flow

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Operating cash flow-$19.8M+13.3%

CapEx$330.0K-64.0%

Free cash flow-$20.1M+15.2%

Valuation

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Market cap$325.08M+5.5%

Enterprise value$285.86M+9.3%

P/S14.8×-27.2×

Profitability

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Gross margin36.3%-39.1pp

Operating margin-352.3%-153pp

Net margin-331.7%-142pp

FCF margin-262.8%-115pp

Returns & leverage

See full

Return on equity-30.7%-0.7pp

Debt / equity0×0.0×

Current ratio6.9×-8.8×

Where this comes from

Calculated from SES AI’s reported figures.

market cap/total stockholders equity=1.7×

Based on the most recent quarter.

The official record: SES AI’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SES AI's price / book?: SES AI (SES) reported price / book of 1.7× in Q1 2026.
How has SES AI's price / book changed year-over-year?: SES AI's price / book increased by 146.6% year-over-year, from 0.7× to 1.7×.
What is the long-term trend for SES AI's price / book?: Over 3 years (2022 to 2025), SES AI's price / book has grown at a 2.8% compound annual growth rate (CAGR), from 2.8× to 3.1×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.