Neonode Inc. (NEON) Key Metrics
NEON valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $12.9M
- Enterprise value
- −$6.3M
- P/E (TTM)
- 1.6
- Forward P/E
- 9.3
- PEG ratio
- 0.37
- Price / sales
- 6.3 10-yr median 10.2
- Price / book
- 0.7 10-yr median 4.1
- EV / EBITDA
- 0.7
- Dividend yield
- —
- Beta
- 1.65
NEON key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNEON valuation Price multiples at each fiscal year-end price.
NEON returns How much profit the business earns on the capital it uses.
NEON per-share figures Results divided by the shares outstanding at year-end.
NEON financial health Debt, liquidity and how easily interest is covered.
NEON efficiency & capital use Working capital cycle and where the cash goes.
NEON valuation history
NEON returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NEON debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NEON cash returned to shareholders
NEON price vs earnings per share
NEON key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $29.2M | $130.6M | $35.1M | $75.0M | $105.4M | $67.4M | $17.2M | $9.8M | $39.3M | $84.1M |
| Enterprise value | $4.2M | $114.8M | $18.9M | $60.4M | $88.9M | $58.7M | $16.3M | $6.0M | $37.4M | $82.7M |
| P/E ratio | 3.4 | — | — | — | — | — | — | — | — | — |
| Price / sales | 14.2 | 42.0 | 9.2 | 13.2 | 18.1 | 11.3 | 2.6 | 1.1 | 3.8 | 8.2 |
| Price / book | 1.2 | 7.9 | 2.0 | 3.9 | 4.4 | 4.5 | 2.7 | 0.8 | 4.4 | 18.7 |
| EV / sales | 2.0 | 36.9 | 4.9 | 10.7 | 15.2 | 9.8 | 2.4 | 0.7 | 3.7 | 8.1 |
| EV / EBITDA | 0.5 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 29.1% | −4.9% | −28.9% | −6.5% | −6.1% | −8.3% | −30.9% | −31.3% | −12.0% | −6.3% |
| Free cash flow yield | −35.4% | −4.3% | −18.3% | −9.1% | −7.3% | −8.6% | −21.0% | −31.7% | −15.9% | −8.6% |
| Dividend yield | — | — | — | 6.0% | 0.0% | 0.0% | 0.2% | 0.3% | 0.1% | 0.0% |
| Shareholder yield (dividends + buybacks) | — | — | 0.0% | 6.0% | 0.0% | 20.1% | 0.2% | 0.3% | 0.1% | 0.0% |
| Share price at fiscal year-end | $1.74 | $8.23 | $2.29 | $5.50 | $8.85 | $6.75 | $1.94 | $1.66 | $7.43 | $18.40 |
| Per share | ||||||||||
| Revenue per share | $0.12 | $0.20 | $0.25 | $0.42 | $0.49 | $0.60 | $0.75 | $1.45 | $1.94 | $2.24 |
| Earnings per share | $0.51 | −$0.41 | −$0.66 | −$0.36 | −$0.54 | −$0.56 | −$0.60 | −$0.52 | −$0.89 | −$1.16 |
| Operating cash flow per share | −$0.61 | −$0.35 | −$0.41 | −$0.50 | −$0.64 | −$0.58 | −$0.40 | −$0.49 | −$1.06 | −$1.37 |
| Free cash flow per share | −$0.62 | −$0.35 | −$0.42 | −$0.50 | −$0.65 | −$0.58 | −$0.41 | −$0.53 | −$1.18 | −$1.58 |
| Cash per share | $1.51 | $1.03 | $1.05 | $1.09 | $1.46 | $1.05 | $0.27 | $1.11 | $1.10 | $0.76 |
| Book value per share | $1.47 | $1.04 | $1.12 | $1.42 | $2.01 | $1.51 | $0.72 | $2.01 | $1.71 | $0.99 |
| Tangible book value per share | $1.47 | $1.04 | $1.12 | $1.42 | $2.01 | $1.51 | $0.72 | $2.01 | $1.71 | $0.99 |
| Dividends per share | — | — | — | $0.33 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 |
| Capex per share | $0.01 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.04 | $0.12 | $0.22 |
| Debt per share | $0.02 | $0.03 | $0.00 | $0.02 | $0.07 | $0.17 | $0.17 | $0.48 | $0.74 | $0.47 |
| Shares outstanding | 16.8M | 15.9M | 15.3M | 13.6M | 11.9M | 10.0M | 8.8M | 5.9M | 5.3M | 4.6M |
| Change in shares outstanding | +5.7% | +3.6% | +12.4% | +14.5% | +19.2% | +12.9% | +50.3% | +11.2% | +15.8% | +10.9% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 41.3% | −38.5% | −55.3% | −22.6% | −33.1% | −52.1% | −58.1% | −29.3% | −69.6% | −166.6% |
| Return on invested capital (ROIC) | — | −655.1% | −154.2% | −68.3% | −81.7% | −82.3% | −66.5% | −40.1% | −83.7% | −317.1% |
| Return on assets (ROA) | 37.5% | −34.6% | −50.3% | −22.1% | −32.6% | −46.7% | −51.2% | −23.2% | −41.2% | −67.7% |
| Return on tangible assets | 31.6% | −35.2% | −53.2% | −23.0% | −28.1% | −33.8% | −71.2% | −23.1% | −35.8% | −54.5% |
| Free cash flow margin | −501.7% | −181.1% | −168.0% | −121.0% | −132.7% | −97.1% | −54.3% | −36.2% | −60.9% | −70.9% |
| Income quality (OCF / net income) | −1.21 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $371,000 | $546,000 | $10,000 | $259,000 | $865,000 | $1.7M | $1.5M | $2.8M | $3.9M | $2.1M |
| Cash & short-term investments | $25.4M | $16.4M | $16.2M | $14.8M | $17.4M | $10.5M | $2.4M | $6.6M | $5.8M | $3.5M |
| Net debt | −$25.0M | −$15.9M | −$16.1M | −$14.6M | −$16.5M | −$8.7M | −$891,000 | −$3.7M | −$1.9M | −$1.3M |
| Debt / equity | 0.02 | 0.03 | 0.00 | 0.01 | 0.04 | 0.12 | 0.23 | 0.24 | 0.44 | 0.48 |
| Debt / assets | 0.01 | 0.03 | 0.00 | 0.01 | 0.04 | 0.11 | 0.20 | 0.21 | 0.30 | 0.22 |
| Net debt / EBITDA | −2.99 | — | — | — | — | — | — | — | — | — |
| Current ratio | 12.05 | 10.92 | 10.16 | 12.24 | 7.41 | 3.48 | 1.80 | 4.54 | 2.73 | 1.66 |
| Quick ratio | 12.05 | 10.92 | 9.83 | 9.99 | 6.56 | 3.18 | 1.46 | 4.01 | 2.41 | 1.51 |
| Interest coverage | — | — | — | -52.9 | -473.8 | -229.3 | -168.5 | -79.1 | -73.0 | -109.4 |
| Working capital | $24.1M | $16.1M | $16.8M | $19.1M | $19.1M | $10.4M | $2.4M | $8.2M | $6.2M | $3.1M |
| Invested capital | −$298,000 | $561,000 | $1.0M | $4.9M | $7.4M | $6.4M | $5.5M | $8.1M | $7.2M | $3.2M |
| Tangible asset value | $24.7M | $16.4M | $17.2M | $19.4M | $19.8M | $11.9M | $3.8M | $9.8M | $7.9M | $4.1M |
| Net current asset value | $24.1M | $15.7M | $16.8M | $19.0M | $18.9M | $10.0M | $1.8M | $7.0M | $4.5M | $2.1M |
| Graham number | $4.09 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | $1.40 | $0.96 | $1.01 | $1.19 | $1.40 | $0.81 | $0.05 | $0.87 | $0.40 | −$0.09 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $4.5M | $31,000 | $33,000 | $33,000 | $33,000 | $33,000 | $0 |
| Share buybacks (net) | — | — | $0 | $12,000 | $0 | $13.5M | $0 | $0 | $0 | $0 |
| Capex / revenue | 4.4% | 1.2% | 3.2% | 0.9% | 1.1% | 1.0% | 1.3% | 2.8% | 6.4% | 9.7% |
| Capex / depreciation | 0.27 | 0.27 | 0.77 | 0.10 | 0.06 | 0.05 | 0.07 | 0.23 | 0.69 | 2.74 |
| Stock-based compensation / revenue | 0.0% | 0.1% | 1.5% | 2.2% | 2.7% | 1.3% | 0.0% | 0.3% | 0.7% | 2.5% |
| R&D / revenue | 183.3% | 110.8% | 100.1% | 69.9% | 60.8% | 69.2% | 78.8% | 61.8% | 59.3% | 69.2% |
| SG&A / revenue | 200.0% | 196.1% | 149.4% | 109.2% | 144.7% | 116.3% | 97.1% | 72.8% | 71.2% | 68.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 119.1 | 118.4 | 133.8 | 108.9 | 119.3 | 113.2 | 92.4 | 67.9 | 56.0 | 56.1 |
| Days of inventory on hand | — | — | 67,479.4 | 1,440.7 | 724.8 | 389.9 | 600.9 | 470.2 | 144.1 | 116.5 |
| Days payables outstanding | 349.4 | 989.6 | 11,162.9 | 252.0 | 355.4 | 277.5 | 282.2 | 200.1 | 139.8 | 307.0 |
| Cash conversion cycle (days) | -230.2 | -871.2 | 56,450.2 | 1,297.6 | 488.7 | 225.6 | 411.2 | 338.0 | 60.3 | -134.4 |
| Receivables turnover | 3.06 | 3.08 | 2.73 | 3.35 | 3.06 | 3.23 | 3.95 | 5.38 | 6.52 | 6.50 |
| Payables turnover | 1.04 | 0.37 | 0.03 | 1.45 | 1.03 | 1.32 | 1.29 | 1.82 | 2.61 | 1.19 |
| Inventory turnover | — | — | 0.01 | 0.25 | 0.50 | 0.94 | 0.61 | 0.78 | 2.53 | 3.13 |
| Asset turnover | 0.09 | 0.17 | 0.19 | 0.26 | 0.30 | 0.50 | 0.64 | 0.65 | 0.90 | 1.31 |
| Average receivables | $673,000 | $1.0M | $1.4M | $1.7M | $1.9M | $1.9M | $1.7M | $1.6M | $1.6M | $1.6M |
| Average payables | $346,500 | $314,500 | $367,000 | $555,000 | $930,000 | $819,500 | $528,000 | $505,000 | $897,500 | $1.1M |
| Average inventory | — | — | $2.2M | $3.2M | $1.9M | $1.2M | $1.1M | $1.2M | $925,000 | $427,000 |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from NEON's annual financial statements (latest annual report filed March 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.
NEON valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Neonode traded at 3.4 times earnings. Based on the latest twelve months, the trailing P/E is 1.6 and the forward P/E is 9.3. Neonode earned a return on equity of 41.3% in fiscal 2025. It ended the year with $0.4 million of debt and $25.4 million in cash and short-term investments, a net cash position of $25.0 million. The share count rose 267.3% from 4.6M to 16.8M over 9 years.
See the NEON income statement, the NEON chart for price history, or the NEON stock overview for the latest quote and news.
NEON key metrics FAQ
What is Neonode's P/E ratio?
Neonode's trailing P/E ratio is 1.6 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 9.3. At the end of fiscal 2025 it was 3.4.
What is Neonode's EV/EBITDA?
Neonode's enterprise value was 0.5 times EBITDA at the end of fiscal 2025 (enterprise value $4.2 million, EBITDA $8.4 million); the current EV/EBITDA is 0.7.
What is Neonode's return on equity?
Neonode's return on equity (ROE) was 41.3% in fiscal 2025: net income of $8.5 million on average shareholders' equity of $20.6 million.
How much debt does Neonode have?
Neonode had total debt of $0.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
What is Neonode's free cash flow yield?
Neonode generated -$10.3 million of free cash flow in fiscal 2025, a free cash flow yield of −35.4% on its market value at year-end ($29.2 million).
What is Neonode's current ratio?
Neonode's current ratio was 12.05 at the end of fiscal 2025: current assets were 12.05 times current liabilities.