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SES AI SES Ratios & Valuation

Q2 '26Q1 '26Q4 '25Q3 '25Q2 '25
Profitability
Gross margin27.8%-47.7pp36.3%-39.1pp53.8%-9.3pp65.6%75.4%
Operating margin-312.8%+747pp-352.3%+1,167pp-393.4%+4,962pp-555%-1,060.3%
Net margin-289.6%+676pp-331.7%+994pp-347.8%+4,563pp-534.3%-965.3%
Returns
Return on equity-31.2%+3.2pp-30.7%+0.7pp-29.6%+1.8pp-33.7%-11.0pp-34.4%-17.5pp
Return on invested capital-39%+2.0pp-39.9%+9.2pp-46.6%+2.2pp-41.2%-7.3pp-41%-14.3pp
Efficiency
Asset turnover0.1×+0.1×0.1×+0.1×0.1×+0.1×0.1×
Liquidity
Current ratio6.5×-5.9×6.9×-8.8×-3.2×8.2×-7.0×12.5×-9.8×
Leverage
Debt-to-equity0.0×0.0×0.0×0.0×0.0×
Per Share
Book value per share$0.56-26.0%$0.61-25.5%$0.65-25.0%$0.69-28.3%$0.75-27.3%
Valuation
Market capitalization$196.38M-51.2%$352.69M+85.7%$657.13M-16.8%$609.18M+166%$340.26M-23.8%
Price / sales8.4×-30.5×16.1×-9.8×31.3×-356×35.9×32.9×
Price / book-0.6×1.7×+1.0×3.1×+0.2×2.7×+1.9×1.4×0.0×

FAQ

What are SES AI's profit margins?
SES AI (SES) runs a 27.8% gross margin and a -312.8% operating margin, with a -289.6% net margin.
Where do SES AI's ratios come from?
Every ratio is computed from SES AI's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.