Commerce.com, Inc. (CMRC) Key Metrics
CMRC valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $285.0M
- Enterprise value
- $276.2M
- P/E (TTM)
- —
- Forward P/E
- 3.7
- PEG ratio
- —
- Price / sales
- 0.8 10-yr median 2.3
- Price / book
- 5.2 10-yr median 16.2
- EV / EBITDA
- 15.6
- Dividend yield
- —
- Beta
- 1.05
CMRC key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCMRC valuation Price multiples at each fiscal year-end price.
CMRC returns How much profit the business earns on the capital it uses.
CMRC per-share figures Results divided by the shares outstanding at year-end.
CMRC financial health Debt, liquidity and how easily interest is covered.
CMRC efficiency & capital use Working capital cycle and where the cash goes.
CMRC valuation history
CMRC returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CMRC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CMRC cash returned to shareholders
CMRC price vs earnings per share
CMRC key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $330.8M | $474.9M | $731.1M | $640.0M | $2.51B | $4.46B | — | — |
| Enterprise value | $355.2M | $517.3M | $811.3M | $686.6M | $2.46B | $4.26B | — | — |
| Price / sales | 1.0 | 1.4 | 2.4 | 2.3 | 11.4 | 29.3 | — | — |
| Price / book | 8.4 | 14.2 | 28.6 | 14.0 | 18.1 | 20.6 | — | — |
| Price / free cash flow | 17.6 | 21.1 | — | — | — | — | — | — |
| Price / operating cash flow | 12.1 | 18.1 | — | — | — | — | — | — |
| EV / sales | 1.0 | 1.6 | 2.6 | 2.5 | 11.2 | 27.9 | — | — |
| EV / EBITDA | 64.4 | — | — | — | — | — | — | — |
| EV / free cash flow | 18.9 | 23.0 | — | — | — | — | — | — |
| Earnings yield | −5.8% | −5.7% | −8.8% | −21.9% | −3.1% | −0.8% | — | — |
| Free cash flow yield | 5.7% | 4.7% | −3.9% | −14.8% | −1.7% | −0.6% | — | — |
| Dividend yield | — | — | — | 0.0% | 0.0% | 0.3% | — | — |
| Shareholder yield (dividends + buybacks) | 0.6% | — | — | 0.0% | 0.0% | 0.3% | — | — |
| Share price at fiscal year-end | $4.12 | $6.12 | $9.73 | $8.74 | $35.37 | $64.15 | — | — |
| Per share | ||||||||
| Revenue per share | $4.26 | $4.29 | $4.12 | $3.81 | $3.10 | $2.19 | $1.68 | $1.61 |
| Earnings per share | −$0.24 | −$0.35 | −$0.86 | −$1.91 | −$1.08 | −$0.54 | −$0.64 | −$0.68 |
| Operating cash flow per share | $0.34 | $0.34 | −$0.32 | −$1.22 | −$0.57 | −$0.38 | −$0.60 | −$0.54 |
| Free cash flow per share | $0.23 | $0.29 | −$0.38 | −$1.29 | −$0.61 | −$0.41 | −$0.68 | −$0.60 |
| Cash per share | $1.76 | $2.30 | $3.59 | $4.14 | $5.64 | $3.16 | $0.12 | $0.64 |
| Book value per share | $0.49 | $0.43 | $0.34 | $0.62 | $1.95 | $3.12 | −$3.85 | −$3.72 |
| Tangible book value per share | −$0.30 | −$0.46 | −$0.71 | −$0.43 | $0.86 | $3.12 | −$3.85 | −$3.72 |
| Dividends per share | — | — | — | $0.00 | $0.00 | $0.18 | — | — |
| Capex per share | $0.11 | $0.05 | $0.06 | $0.07 | $0.05 | $0.03 | $0.08 | $0.06 |
| Debt per share | $2.06 | $2.84 | $4.66 | $4.78 | $4.91 | $0.23 | $0.89 | $0.43 |
| Shares outstanding | 80.3M | 77.6M | 75.1M | 73.2M | 70.9M | 69.5M | 66.9M | 56.9M |
| Change in shares outstanding | +3.5% | +3.3% | +2.6% | +3.2% | +2.0% | +3.9% | +17.5% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | −53.2% | −91.8% | −181.6% | −152.1% | −43.2% | — | — | — |
| Return on invested capital (ROIC) | −18.4% | −36.3% | −57.8% | −124.0% | −120.0% | — | — | — |
| Return on assets (ROA) | −6.0% | −6.9% | −14.1% | −27.2% | −18.4% | −22.6% | −74.0% | −65.8% |
| Return on tangible assets | −7.9% | −10.0% | −17.7% | −35.3% | −16.0% | −13.6% | −76.0% | −65.8% |
| Free cash flow margin | 5.5% | 6.8% | −9.2% | −33.9% | −19.8% | −18.7% | −40.6% | −36.9% |
| Financial health | ||||||||
| Total debt | $165.5M | $220.6M | $350.3M | $350.1M | $348.4M | $15.8M | $59.3M | $24.4M |
| Cash & short-term investments | $141.1M | $178.2M | $270.1M | $303.5M | $399.9M | $219.4M | $7.8M | $36.2M |
| Net debt | $24.4M | $42.4M | $80.2M | $46.6M | −$51.5M | −$203.6M | $51.5M | −$11.8M |
| Debt / equity | 4.21 | 6.61 | 13.72 | 7.67 | 2.52 | 0.07 | — | — |
| Debt / assets | 0.54 | 0.65 | 0.79 | 0.74 | 0.63 | 0.06 | 1.06 | 0.41 |
| Net debt / EBITDA | 4.43 | — | — | — | — | — | — | — |
| Current ratio | 1.98 | 2.85 | 4.83 | 4.75 | 7.24 | 5.54 | 0.93 | 1.92 |
| Quick ratio | 1.98 | 2.85 | 4.83 | 4.65 | 7.15 | 5.46 | 0.84 | 1.81 |
| Interest coverage | -1.6 | -6.9 | -25.1 | -161.9 | -299.0 | -12.5 | -25.4 | -25.5 |
| Working capital | $106.2M | $163.2M | $271.2M | $295.5M | $391.7M | $208.2M | −$2.2M | $25.5M |
| Invested capital | $63.8M | $75.8M | $105.7M | $92.3M | $86.8M | $13.2M | −$205.8M | −$223.3M |
| Tangible asset value | −$23.9M | −$35.9M | −$53.6M | −$31.7M | $60.8M | $216.8M | −$257.3M | −$211.5M |
| Net current asset value | −$55.1M | −$55.7M | −$76.5M | −$54.1M | $37.4M | $194.2M | −$281.7M | −$217.5M |
| Graham net-net per share | −$1.13 | −$1.19 | −$1.60 | −$1.29 | $0.21 | $2.57 | −$4.37 | −$3.96 |
| Capital allocation | ||||||||
| Dividends paid | — | — | — | $0 | $0 | $12.8M | — | — |
| Share buybacks (net) | $2.0M | — | — | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 10.4% | — | — | — | — | — | — | — |
| Capex / revenue | 2.5% | 1.1% | 1.4% | 1.9% | 1.5% | 1.3% | 5.0% | 3.6% |
| Capex / operating cash flow | 31.4% | 14.2% | — | — | — | — | — | — |
| Capex / depreciation | 0.63 | 0.27 | 0.33 | 0.45 | 0.54 | 0.64 | 2.17 | 1.80 |
| Stock-based compensation / revenue | 6.9% | 10.6% | 13.3% | 15.2% | 11.6% | 7.3% | 2.8% | 2.3% |
| R&D / revenue | 21.3% | 24.3% | 27.0% | 31.6% | 29.4% | 31.7% | 38.5% | 46.2% |
| SG&A / revenue | 56.3% | 57.5% | 64.3% | 75.5% | 71.0% | 71.3% | 74.0% | 71.2% |
| Efficiency | ||||||||
| Days sales outstanding | 52.3 | 47.0 | 42.9 | 49.0 | 52.0 | 46.0 | 42.0 | 40.7 |
| Days of inventory on hand | — | — | — | 33.3 | 33.5 | 36.2 | 42.2 | 53.4 |
| Days payables outstanding | 42.4 | 35.3 | 36.9 | 39.7 | 52.7 | 51.7 | 63.1 | 90.9 |
| Cash conversion cycle (days) | 9.9 | 11.8 | 6.1 | 42.6 | 32.8 | 30.5 | 21.0 | 3.2 |
| Receivables turnover | 6.98 | 7.76 | 8.50 | 7.45 | 7.01 | 7.93 | 8.69 | 8.97 |
| Payables turnover | 8.62 | 10.35 | 9.90 | 9.19 | 6.93 | 7.06 | 5.78 | 4.02 |
| Inventory turnover | — | — | — | 10.95 | 10.91 | 10.09 | 8.66 | 6.83 |
| Asset turnover | 1.05 | 0.85 | 0.67 | 0.54 | 0.53 | 0.92 | 1.95 | 1.55 |
| Average receivables | $49.0M | $42.9M | $36.4M | $37.4M | $31.4M | $19.2M | $12.9M | $10.2M |
| Average payables | $8.4M | $7.5M | $7.5M | $7.6M | $7.0M | $4.8M | $4.7M | $5.5M |
| Average inventory | — | — | — | $6.4M | $4.4M | $3.4M | $3.1M | $3.2M |
| Intangibles / total assets | 20.5% | 20.3% | 17.8% | 16.3% | 13.9% | 0.0% | 0.0% | 0.0% |
Computed from CMRC's annual financial statements (latest annual report filed March 2, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CMRC valuation and financial ratios
Commerce.com earned a return on equity of −53.2% and a return on invested capital of −18.4% in fiscal 2025. It ended the year with $165.5 million of debt and $141.1 million in cash and short-term investments, net debt of $24.4 million. It returned $2.0 million to shareholders: $0 in dividends and $2.0 million in share buybacks, 10% of free cash flow. The share count rose 41.1% from 56.9M to 80.3M over 7 years.
See the CMRC income statement, the CMRC chart for price history, or the CMRC stock overview for the latest quote and news.
CMRC key metrics FAQ
What is Commerce.com's EV/EBITDA?
Commerce.com's enterprise value was 64.4 times EBITDA at the end of fiscal 2025 (enterprise value $355.2 million, EBITDA $5.5 million); the current EV/EBITDA is 15.6.
What is Commerce.com's return on equity?
Commerce.com's return on equity (ROE) was −53.2% in fiscal 2025: net income of -$19.3 million on average shareholders' equity of $36.4 million.
What is Commerce.com's ROIC?
Commerce.com's return on invested capital was −18.4% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Commerce.com have?
Commerce.com had total debt of $165.5 million at the end of fiscal 2025, a debt-to-equity ratio of 4.21 and $24.4 million of net debt (4.43 times EBITDA).
Does Commerce.com buy back its shares?
Yes. Commerce.com spent $2.0 million on net share repurchases in fiscal 2025 Shares outstanding changed +3.5% over the year, to 80.3M..
What is Commerce.com's free cash flow yield?
Commerce.com generated $18.8 million of free cash flow in fiscal 2025, a free cash flow yield of 5.7% on its market value at year-end ($330.8 million).
What is Commerce.com's current ratio?
Commerce.com's current ratio was 1.98 at the end of fiscal 2025: current assets were 1.98 times current liabilities.