SES AI SES Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 36.3%-39.1pp | 53.8%-9.3pp | 65.6%— | 75.4%— | 75.4%— | |
| Operating margin | -352.3%+1,167pp | -393.4%+4,962pp | -555%— | -1,060.3%— | -1,519.2%— | |
| Net margin | -331.7%+994pp | -347.8%+4,563pp | -534.3%— | -965.3%— | -1,325.4%— | |
| Returns | ||||||
| Return on equity | -30.7%+0.7pp | -29.6%+1.8pp | -33.7%-11.0pp | -34.4%-17.5pp | -31.4%-17.0pp | |
| Return on invested capital | -39.9%+9.2pp | -46.6%+2.2pp | -41.2%-7.3pp | -41%-14.3pp | -49.1%-22.1pp | |
| Efficiency | ||||||
| Asset turnover | 0.1×+0.1× | 0.1×+0.1× | 0.1×— | 0×— | 0×— | |
| Liquidity | ||||||
| Current ratio | 6.9×-8.8× | 9×-3.2× | 8.2×-7.0× | 12.5×-9.8× | 15.6×-7.9× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Per Share | ||||||
| Book value per share | $0.61-25.5% | $0.65-25.0% | $0.69-28.3% | $0.75-27.3% | $0.82-24.8% | |
| Valuation | ||||||
| Market capitalization | $325.08M+5.5% | $657.13M-16.8% | $609.18M+166% | $340.26M-23.8% | $189.88M-68.2% | |
| Price / sales | 14.8×-27.2× | 31.3×-356× | 35.9×— | 32.9×— | 25.9×— | |
| Price / book | 1.6×+0.5× | 3.1×+0.2× | 2.7×+1.9× | 1.4×0.0× | 0.7×-1.0× |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are SES AI's profit margins?
- SES AI (SES) runs a 36.3% gross margin and a -352.3% operating margin, with a -331.7% 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.
