Fusemachines Inc. (FUSE) Key Metrics
FUSE valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $11.8M
- Enterprise value
- $17.8M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 1.6 10-yr median 8.2
- Price / book
- —
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 0.91
FUSE key metrics, 2021–2025
Fiscal year ended December 31, 2025 · U.S. dollarsFUSE valuation Price multiples at each fiscal year-end price.
Price / sales+1,607.0%
2.5
2025 · hover or tap a bar for each year
20212025
Free cash flow yield−278.6 pts
−29.4%
2025 · hover or tap a bar for each year
20212025
FUSE returns How much profit the business earns on the capital it uses.
Return on assets−219.8 pts
−14.2%
2025 · hover or tap a bar for each year
20212025
Free cash flow margin−108.4 pts
−72.4%
2025 · hover or tap a bar for each year
20212025
Asset turnover−99.0%
1.18
2025 · hover or tap a bar for each year
20212025
FUSE per-share figures Results divided by the shares outstanding at year-end.
Revenue per share−99.2%
$0.67
2025 · hover or tap a bar for each year
20212025
Earnings per share
−$0.08
2025 · hover or tap a bar for each year
20212025
Free cash flow per share
−$0.48
2025 · hover or tap a bar for each year
20212025
Book value per share
−$1.26
2025 · hover or tap a bar for each year
20212025
Shares outstanding+72.2%
11.5M
2025 · hover or tap a bar for each year
20212025
FUSE financial health Debt, liquidity and how easily interest is covered.
Net debt−$19.9M
−$2.7M
2025 · hover or tap a bar for each year
20212025
Current ratio+53.6%
0.31
2025 · hover or tap a bar for each year
20212025
Interest coverage
-22.2
2025 · hover or tap a bar for each year
20212025
Debt / assets−93.8%
0.20
2025 · hover or tap a bar for each year
20212025
FUSE efficiency & capital use Working capital cycle and where the cash goes.
Days sales outstanding+71 days
72 days
2025 · hover or tap a bar for each year
20212025
Days payables outstanding+728 days
619 days
2025 · hover or tap a bar for each year
20212025
Cash conversion cycle−656 days
-546 days
2025 · hover or tap a bar for each year
20212025
Capex / revenue−1.0 pts
0.7%
2025 · hover or tap a bar for each year
20212025
FUSE valuation history
Fiscal year-endToday5-year median
FUSE returns on capital
ROEROICROA
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
FUSE debt vs cash
Total debtCash & short-term investments
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
FUSE cash returned to shareholders
DividendsBuybacksFree cash flow
FUSE price vs earnings per share
Share price at year-endEPS (right axis)
FUSE key metrics
2021–2025| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Valuation | |||||
| Market capitalization | $19.0M | $77.0M | $103.6M | $268.2M | — |
| Enterprise value | $16.3M | $94.1M | $58.8M | $272.1M | — |
| P/E ratio | — | 8.4 | — | — | — |
| Price / sales | 2.5 | 0.1 | 13.9 | 39.0 | — |
| Price / free cash flow | — | 0.4 | — | — | — |
| Price / operating cash flow | — | 0.4 | — | — | — |
| EV / sales | 2.1 | 0.2 | 7.9 | 39.6 | — |
| EV / EBITDA | — | 2.8 | — | — | — |
| EV / free cash flow | — | 0.5 | — | — | — |
| Earnings yield | −4.9% | 11.9% | −6.5% | −0.3% | — |
| Free cash flow yield | −29.4% | 249.2% | −2.7% | −0.3% | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 2.6% | 144.3% | — | — |
| Share price at fiscal year-end | $1.65 | $11.50 | $10.89 | $10.12 | — |
| Per share | |||||
| Revenue per share | $0.67 | $79.63 | $0.78 | $0.26 | $0.00 |
| Earnings per share | −$0.08 | $1.37 | −$0.71 | −$0.03 | −$0.00 |
| Operating cash flow per share | −$0.48 | $30.03 | −$0.26 | −$0.02 | — |
| Free cash flow per share | −$0.48 | $28.66 | −$0.29 | −$0.03 | — |
| Cash per share | $0.37 | $0.07 | $5.48 | $0.03 | $0.00 |
| Book value per share | −$1.26 | −$3.63 | −$0.89 | −$0.15 | −$0.00 |
| Tangible book value per share | −$1.28 | −$3.66 | −$0.90 | −$0.15 | −$0.00 |
| Capex per share | $0.00 | $1.37 | $0.03 | $0.01 | — |
| Debt per share | $0.13 | $2.63 | $0.77 | $0.18 | $0.01 |
| Shares outstanding | 11.5M | 6.7M | 9.5M | 26.5M | 23.7M |
| Change in shares outstanding | +72.2% | −29.7% | −64.1% | +11.7% | — |
| Returns & profitability | |||||
| Return on invested capital (ROIC) | — | — | — | −881.7% | −37.8% |
| Return on assets (ROA) | −14.2% | 205.6% | −201.7% | −35.8% | −5.8% |
| Return on tangible assets | −12.7% | 170.6% | −209.0% | −22.6% | −5.8% |
| Free cash flow margin | −72.4% | 36.0% | −37.2% | −11.8% | — |
| Income quality (OCF / net income) | — | 21.98 | — | — | — |
| Financial health | |||||
| Total debt | $1.5M | $17.6M | $7.3M | $4.8M | $126,894 |
| Cash & short-term investments | $4.2M | $500,000 | $52.1M | $903,000 | $20 |
| Net debt | −$2.7M | $17.1M | −$44.8M | $3.9M | $126,874 |
| Debt / assets | 0.20 | 3.18 | 2.17 | 1.43 | 0.15 |
| Net debt / EBITDA | — | 0.50 | — | — | — |
| Current ratio | 0.31 | 0.20 | 0.52 | 1.00 | 0.00 |
| Quick ratio | 0.31 | 0.20 | 0.52 | 1.00 | 0.00 |
| Interest coverage | -22.2 | 1.1 | -11.7 | -4.4 | — |
| Working capital | −$13.8M | −$16.2M | −$1.6M | $9,000 | −$866,674 |
| Invested capital | −$17.3M | −$7.2M | −$53.3M | $22,000 | $102,720 |
| Tangible asset value | −$14.8M | −$24.5M | −$8.6M | −$3.9M | −$24,154 |
| Net current asset value | −$15.9M | −$25.7M | −$10.0M | −$5.3M | −$866,674 |
| Graham net-net per share | −$1.46 | −$4.20 | $4.34 | −$0.21 | −$0.04 |
| Capital allocation | |||||
| Share buybacks (net) | $0 | $2.0M | $149.5M | — | — |
| Dividends + buybacks / free cash flow | — | 1.0% | — | — | — |
| Capex / revenue | 0.7% | 1.7% | 4.0% | 3.2% | — |
| Capex / operating cash flow | — | 4.6% | — | — | — |
| Capex / depreciation | 0.19 | 31.71 | 1.16 | 1.32 | — |
| Stock-based compensation / revenue | 3.0% | 5.2% | 29.0% | 0.0% | — |
| R&D / revenue | 9.3% | 0.1% | 8.1% | 4.0% | — |
| SG&A / revenue | 123.7% | 2.3% | 119.9% | 75.3% | — |
| Efficiency | |||||
| Days sales outstanding | 72.3 | 1.0 | 56.8 | 55.1 | — |
| Days payables outstanding | 618.6 | -109.1 | 98.6 | 97.0 | — |
| Cash conversion cycle (days) | -546.4 | 110.1 | -41.9 | -41.9 | — |
| Receivables turnover | 5.05 | 363.46 | 6.43 | 6.63 | — |
| Payables turnover | 0.59 | −3.35 | 3.70 | 3.76 | — |
| Asset turnover | 1.18 | 119.82 | 2.22 | 3.28 | 0.00 |
| Average receivables | $1.5M | $1.5M | $1.2M | $1.0M | — |
| Average payables | $5.8M | $3.9M | $864,500 | $563,000 | — |
| Intangibles / total assets | 2.7% | 3.4% | 3.4% | 0.9% | 0.0% |
Computed from FUSE's annual financial statements (latest annual report filed December 31, 2025) 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.
FUSE valuation and financial ratios
It ended the year with $1.5 million of debt and $4.2 million in cash and short-term investments, a net cash position of $2.7 million. The share count fell 51.4% from 23.7M to 11.5M over 4 years.
See the FUSE income statement, the FUSE chart for price history, or the FUSE stock overview for the latest quote and news.
FUSE key metrics FAQ
How much debt does Fusemachines have?
Fusemachines had total debt of $1.5 million at the end of fiscal 2025 and more cash than debt.
What is Fusemachines's free cash flow yield?
Fusemachines generated -$5.6 million of free cash flow in fiscal 2025, a free cash flow yield of −29.4% on its market value at year-end ($19.0 million).
What is Fusemachines's current ratio?
Fusemachines's current ratio was 0.31 at the end of fiscal 2025: current assets were 0.31 times current liabilities.