FatPipe, Inc. (FATN) Key Metrics
FATN valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $70.6M
- Enterprise value
- $75.7M
- P/E (TTM)
- 12.8
- Forward P/E
- 11.2
- PEG ratio
- —
- Price / sales
- 3.5
- Price / book
- 2.8
- EV / EBITDA
- 18.0
- Dividend yield
- —
- Beta
- —
FATN key metrics, FY2022–FY2026
Fiscal year ended March 31, 2026 · U.S. dollarsFATN returns How much profit the business earns on the capital it uses.
FATN per-share figures Results divided by the shares outstanding at year-end.
FATN financial health Debt, liquidity and how easily interest is covered.
FATN efficiency & capital use Working capital cycle and where the cash goes.
FATN valuation history
FATN returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FATN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FATN price vs earnings per share
FATN key metrics
FY2022–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Valuation | |||||
| Market capitalization | $34.2M | — | — | — | — |
| Enterprise value | $34.7M | — | — | — | — |
| P/E ratio | 6.9 | — | — | — | — |
| Price / sales | 1.8 | — | — | — | — |
| Price / book | 1.4 | — | — | — | — |
| EV / sales | 1.8 | — | — | — | — |
| EV / EBITDA | 8.0 | — | — | — | — |
| Earnings yield | 14.5% | — | — | — | — |
| Free cash flow yield | −2.4% | — | — | — | — |
| Share price at fiscal year-end | $2.44 | — | — | — | — |
| Per share | |||||
| Revenue per share | $1.37 | $1.27 | $1.18 | $1.15 | $0.90 |
| Earnings per share | $0.35 | $0.15 | $0.29 | $0.21 | $0.04 |
| Operating cash flow per share | −$0.06 | −$0.04 | −$0.02 | −$0.13 | −$0.01 |
| Free cash flow per share | −$0.06 | −$0.04 | −$0.03 | −$0.15 | −$0.02 |
| Cash per share | $0.37 | $0.23 | $0.07 | $0.08 | $0.10 |
| Book value per share | $1.80 | $1.24 | $0.92 | $0.68 | $0.48 |
| Tangible book value per share | $1.75 | $1.16 | $0.82 | $0.52 | $0.28 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.01 | $0.00 |
| Debt per share | $0.41 | $0.51 | $0.19 | $0.19 | $0.07 |
| Shares outstanding | 14.0M | 12.9M | 15.1M | 13.8M | 13.8M |
| Change in shares outstanding | +8.9% | −14.8% | +9.6% | 0.0% | — |
| Returns & profitability | |||||
| Return on equity (ROE) | 24.2% | 13.2% | 37.5% | 36.5% | 7.4% |
| Return on invested capital (ROIC) | 15.8% | 11.7% | 32.4% | 34.9% | −3.4% |
| Return on assets (ROA) | 15.8% | 7.9% | 23.5% | 21.9% | 4.5% |
| Return on tangible assets | 14.7% | 7.2% | 22.0% | 21.5% | 5.9% |
| Free cash flow margin | −4.3% | −3.2% | −2.1% | −12.7% | −1.8% |
| Income quality (OCF / net income) | −0.16 | −0.26 | −0.08 | −0.63 | −0.39 |
| Financial health | |||||
| Total debt | $5.7M | $6.6M | $2.8M | $2.6M | $942,183 |
| Cash & short-term investments | $5.2M | $2.9M | $1.1M | $1.1M | $1.4M |
| Net debt | $493,351 | $3.7M | $1.7M | $1.6M | −$433,669 |
| Debt / equity | 0.23 | 0.41 | 0.20 | 0.28 | 0.14 |
| Debt / assets | 0.17 | 0.23 | 0.13 | 0.17 | 0.09 |
| Net debt / EBITDA | 0.11 | 0.88 | 0.26 | 0.41 | −0.42 |
| Current ratio | 3.85 | 2.00 | 1.98 | 1.83 | 1.98 |
| Quick ratio | 3.75 | 1.93 | 1.95 | 1.74 | 1.78 |
| Interest coverage | 7.6 | 10.5 | 18.7 | 30.2 | -7.2 |
| Working capital | $12.2M | $6.5M | $4.6M | $3.3M | $3.1M |
| Invested capital | $25.7M | $19.6M | $15.7M | $10.9M | $6.1M |
| Tangible asset value | $24.5M | $14.9M | $12.5M | $7.4M | $4.1M |
| Net current asset value | $7.1M | $600,232 | $2.0M | $1.1M | $2.3M |
| Graham number | $3.79 | $2.06 | $2.45 | $1.80 | $0.61 |
| Graham net-net per share | $0.30 | −$0.20 | −$0.04 | −$0.10 | $0.06 |
| Capital allocation | |||||
| Capex / revenue | 0.3% | 0.1% | 0.1% | 1.0% | 0.3% |
| Capex / depreciation | 0.14 | 0.04 | 0.03 | 0.28 | 0.07 |
| Stock-based compensation / revenue | 4.0% | 0.0% | — | — | — |
| R&D / revenue | 9.9% | 11.0% | 9.7% | 11.4% | 13.2% |
| SG&A / revenue | 62.4% | 61.2% | 52.7% | 61.1% | 83.0% |
| Efficiency | |||||
| Days sales outstanding | 186.5 | 184.7 | 126.0 | 103.3 | 121.7 |
| Days of inventory on hand | 91.4 | 91.7 | 80.1 | 167.5 | 346.2 |
| Days payables outstanding | 87.4 | 146.9 | 112.4 | 52.2 | 39.3 |
| Cash conversion cycle (days) | 190.5 | 129.4 | 93.7 | 218.5 | 428.6 |
| Receivables turnover | 1.96 | 1.98 | 2.90 | 3.53 | 3.00 |
| Payables turnover | 4.18 | 2.48 | 3.25 | 6.99 | 9.28 |
| Inventory turnover | 3.99 | 3.98 | 4.56 | 2.18 | 1.05 |
| Asset turnover | 0.61 | 0.66 | 0.96 | 1.19 | 1.15 |
| Average receivables | $9.8M | $8.2M | $6.2M | $4.5M | $4.1M |
| Average payables | $413,714 | $427,390 | $329,317 | $157,809 | $74,511 |
| Average inventory | $432,760 | $266,600 | $234,736 | $505,969 | $655,988 |
| Intangibles / total assets | 2.0% | 3.7% | 7.3% | 13.8% | 24.4% |
Computed from FATN's annual financial statements (latest annual report filed May 18, 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.
FATN valuation and financial ratios
At the end of fiscal 2026 (March 31, 2026), FatPipe traded at 6.9 times earnings. Based on the latest twelve months, the trailing P/E is 12.8 and the forward P/E is 11.2. FatPipe earned a return on equity of 24.2% and a return on invested capital of 15.8% in fiscal 2026. It ended the year with $5.7 million of debt and $5.2 million in cash and short-term investments, net debt of $0.5 million.
See the FATN income statement, the FATN chart for price history, or the FATN stock overview for the latest quote and news.
FATN key metrics FAQ
What is FatPipe's P/E ratio?
FatPipe's trailing P/E ratio is 12.8 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 11.2. At the end of fiscal 2026 it was 6.9.
What is FatPipe's EV/EBITDA?
FatPipe's enterprise value was 8.0 times EBITDA at the end of fiscal 2026 (enterprise value $34.7 million, EBITDA $4.3 million); the current EV/EBITDA is 18.0.
What is FatPipe's return on equity?
FatPipe's return on equity (ROE) was 24.2% in fiscal 2026: net income of $5.0 million on average shareholders' equity of $20.6 million.
What is FatPipe's ROIC?
FatPipe's return on invested capital was 15.8% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does FatPipe have?
FatPipe had total debt of $5.7 million at the end of fiscal 2026, a debt-to-equity ratio of 0.23 and $0.5 million of net debt (0.11 times EBITDA).
What is FatPipe's free cash flow yield?
FatPipe generated -$0.8 million of free cash flow in fiscal 2026, a free cash flow yield of −2.4% on its market value at year-end ($34.2 million).
What is FatPipe's current ratio?
FatPipe's current ratio was 3.85 at the end of fiscal 2026: current assets were 3.85 times current liabilities.