SES AI SES Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 36.3%-17.5pp | 53.8%-11.7pp | 65.6%— | —— | —— | |
| Operating margin | -352.3%+41.1pp | -393.4%+162pp | -555%— | —— | —— | |
| Net margin | -331.7%+16.1pp | -347.8%+186pp | -534.3%— | —— | —— | |
| EBITDA margin | -304.6%+39.8pp | -344.4%+151pp | -495.5%— | —— | —— | |
| Free cash flow margin | -262.8%+28.7pp | -291.5%+78.0pp | -369.5%— | —— | —— | |
| Returns | ||||||
| Return on equity | -30.7%-1.1pp | -29.6%+4.1pp | -33.7%+0.7pp | -34.4%-2.9pp | -31.4%0.0pp | |
| Return on assets | -26%-1.7pp | -24.2%+4.1pp | -28.4%+1.9pp | -30.3%-2.2pp | -28.1%-0.9pp | |
| Return on invested capital | -39.9%+6.8pp | -46.6%-5.5pp | -41.2%-0.2pp | -41%+8.1pp | -49.1%-0.2pp | |
| Efficiency | ||||||
| Asset turnover | 0.1×0.0× | 0.1×0.0× | 0.1×— | —— | —— | |
| Inventory turnover | 3.9×+0.3× | 3.6×+0.7× | 2.9×— | —— | —— | |
| Liquidity | ||||||
| Current ratio | 6.9×-2.1× | 9×+0.7× | 8.2×-4.2× | 12.5×-3.2× | 15.6×+3.5× | |
| Quick ratio | 6.6×-2.1× | 8.7×+0.6× | 8.1×-4.4× | 12.5×-3.1× | 15.6×+3.5× | |
| Cash ratio | 1.6×+0.4× | 1.2×0.0× | 1.3×+0.7× | 0.6×-2.8× | 3.4×-2.2× | |
| Leverage | ||||||
| Debt-to-equity | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Debt-to-assets | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | 0×0.0× | |
| Interest coverage | -9.2×-0.4× | -8.8×+0.1× | -8.9×+0.3× | -9.2×-1.0× | -8.2×-0.9× | |
| Per Share | ||||||
| Book value per share | $0.61-5.9% | $0.65-5.8% | $0.69-8.3% | $0.75-8.3% | $0.82-5.2% | |
| Valuation | ||||||
| Market capitalization | $325.08M+5.5% | $657.13M+7.9% | $609.18M+79.0% | $340.26M+79.2% | $189.88M-76.0% | |
| Enterprise value | $285.86M+9.3% | $636.53M+8.9% | $584.28M+73.0% | $337.8M+136% | $143.36M-78.6% | |
| Price / sales | 14.8×-27.2× | 31.3×-4.7× | 35.9×— | —— | —— | |
| Price / book | 1.6×+0.5× | 3.1×+0.4× | 2.7×+1.3× | 1.4×+0.7× | 0.7×-2.1× | |
| EV / sales | 13×-22.7× | 30.3×-4.2× | 34.5×— | —— | —— | |
| Free cash flow yield | -17.7%+10.3pp | -9.3%+1.0pp | -10.3%+10.9pp | -21.2%+24.3pp | -45.5%-35.5pp | |
| Earnings yield | -22.4%+9.1pp | -11.1%+3.7pp | -14.9%+14.5pp | -29.3%+21.8pp | -51.1%-38.4pp |
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.
