SANUWAVE Health, Inc. (SNWV) Key Metrics
SNWV valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $42.7M
- Enterprise value
- $51.2M
- P/E (TTM)
- 20.7
- Forward P/E
- 18.2
- PEG ratio
- —
- Price / sales
- 1.0
- Price / book
- 14.3
- EV / EBITDA
- 2.5
- Dividend yield
- —
- Beta
- 1.42
SNWV key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsSNWV valuation Price multiples at each fiscal year-end price.
SNWV returns How much profit the business earns on the capital it uses.
SNWV per-share figures Results divided by the shares outstanding at year-end.
SNWV financial health Debt, liquidity and how easily interest is covered.
SNWV efficiency & capital use Working capital cycle and where the cash goes.
SNWV valuation history
SNWV returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
SNWV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
SNWV price vs earnings per share
SNWV key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $271.0M | $102.6M | — | — | — | — | — | — | — | — |
| Enterprise value | $282.0M | $117.9M | — | — | — | — | — | — | — | — |
| P/E ratio | 22.9 | — | — | — | — | — | — | — | — | — |
| Price / sales | 6.2 | 3.1 | — | — | — | — | — | — | — | — |
| Price / book | 167.4 | — | — | — | — | — | — | — | — | — |
| Price / free cash flow | 140.1 | 52.2 | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 69.9 | 41.8 | — | — | — | — | — | — | — | — |
| EV / sales | 6.4 | 3.6 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 14.5 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 145.8 | 60.0 | — | — | — | — | — | — | — | — |
| Earnings yield | 4.4% | −30.6% | — | — | — | — | — | — | — | — |
| Free cash flow yield | 0.7% | 1.9% | — | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $29.84 | $23.00 | $4.88 | $8.55 | $63.75 | $69.38 | $60.00 | $86.25 | $90.75 | $65.59 |
| Per share | ||||||||||
| Revenue per share | $4.85 | $7.31 | — | — | — | — | — | — | — | — |
| Earnings per share | $1.30 | −$7.03 | — | — | — | — | — | — | — | — |
| Operating cash flow per share | $0.43 | $0.55 | — | — | — | — | — | — | — | — |
| Free cash flow per share | $0.21 | $0.44 | — | — | — | — | — | — | — | — |
| Cash per share | $1.32 | $2.29 | — | — | — | — | — | — | — | — |
| Book value per share | $0.18 | −$2.85 | — | — | — | — | — | — | — | — |
| Tangible book value per share | −$0.95 | −$5.31 | — | — | — | — | — | — | — | — |
| Capex per share | $0.21 | $0.11 | — | — | — | — | — | — | — | — |
| Debt per share | $2.53 | $5.71 | — | — | — | — | — | — | — | — |
| Shares outstanding | 9.1M | 4.5M | — | — | — | — | — | — | — | — |
| Change in shares outstanding | +103.5% | — | — | — | — | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on invested capital (ROIC) | 64.7% | — | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | 35.0% | −119.4% | −122.1% | −53.5% | −130.9% | −234.3% | −457.5% | −947.0% | −485.0% | −656.0% |
| Return on tangible assets | 43.7% | −164.0% | −240.7% | −137.7% | −494.0% | −335.5% | −308.4% | −987.6% | −433.1% | −640.8% |
| Free cash flow margin | 4.4% | 6.0% | −22.2% | −96.4% | −53.3% | −314.8% | −628.4% | −198.1% | −207.0% | −233.3% |
| Income quality (OCF / net income) | 0.33 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $23.0M | $25.5M | $31.9M | $41.1M | $26.2M | $143,628 | $6.9M | $10.8M | $6.0M | $5.5M |
| Cash & short-term investments | $12.0M | $10.2M | $1.8M | $1.2M | $619,000 | $2.4M | $1.8M | $364,549 | $730,184 | $133,571 |
| Net debt | $11.0M | $15.3M | $30.1M | $40.0M | $25.6M | −$2.3M | $5.2M | $10.4M | $5.3M | $5.4M |
| Debt / equity | 14.19 | — | — | — | — | — | — | — | — | — |
| Debt / assets | 0.62 | 0.85 | 1.43 | 2.07 | 1.41 | 0.01 | 2.05 | 9.16 | 4.73 | 5.49 |
| Net debt / EBITDA | 0.57 | — | — | 8.34 | — | — | — | — | — | — |
| Current ratio | 1.38 | 0.43 | 0.15 | 0.11 | 0.08 | 0.22 | 0.20 | 0.07 | 0.11 | 0.12 |
| Quick ratio | 1.05 | 0.34 | 0.11 | 0.10 | 0.06 | 0.14 | 0.16 | 0.04 | 0.09 | 0.09 |
| Interest coverage | 0.8 | 0.4 | -0.0 | -0.6 | -2.0 | -7.1 | -4.8 | -1.6 | -3.4 | -3.9 |
| Working capital | $6.8M | −$23.9M | −$55.0M | −$53.6M | −$51.9M | −$28.2M | −$9.9M | −$15.4M | −$10.0M | −$7.0M |
| Invested capital | $12.6M | $2.5M | −$13.0M | −$1.1M | −$13.4M | −$16.0M | −$4.9M | −$4.9M | −$4.6M | −$1.5M |
| Tangible asset value | −$8.7M | −$23.7M | −$54.9M | −$53.4M | −$52.1M | −$27.5M | −$10.1M | −$15.4M | −$9.9M | −$6.9M |
| Net current asset value | −$11.1M | −$24.4M | −$55.8M | −$54.3M | −$53.2M | −$28.8M | −$10.9M | −$15.5M | −$10.0M | −$7.0M |
| Graham number | $2.28 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$1.84 | −$6.28 | — | — | — | — | — | — | — | — |
| Capital allocation | ||||||||||
| Share buybacks (net) | — | — | — | — | — | — | — | — | $0 | $0 |
| Capex / revenue | 4.4% | 1.5% | 0.0% | 6.1% | 4.1% | 1.3% | 5.2% | 2.3% | 5.8% | 0.8% |
| Capex / operating cash flow | 50.1% | 20.0% | — | — | — | — | — | — | — | — |
| Capex / depreciation | 1.51 | 0.43 | 0.00 | 1.07 | 0.43 | 0.05 | 0.76 | 1.92 | 1.78 | 0.03 |
| Stock-based compensation / revenue | 11.0% | 4.6% | 1.1% | 5.3% | 0.2% | 0.5% | 32.4% | 134.1% | 104.0% | 39.8% |
| R&D / revenue | 3.1% | 2.1% | 2.8% | 3.4% | 8.5% | 30.7% | 114.9% | 89.9% | 175.0% | 82.0% |
| SG&A / revenue | 60.8% | 54.1% | 66.5% | 119.6% | 155.9% | 465.4% | 780.7% | 368.2% | 406.8% | 194.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 36.3 | 37.1 | 65.7 | 70.2 | 66.9 | 109.4 | 55.3 | 38.3 | 151.6 | 71.0 |
| Days of inventory on hand | 182.5 | 160.3 | 115.5 | 80.4 | 146.3 | 549.5 | 305.0 | 155.1 | 349.6 | 166.9 |
| Days payables outstanding | 125.8 | 213.0 | 305.6 | 507.5 | 442.8 | 925.6 | 1,026.8 | 812.7 | 1,666.5 | 394.7 |
| Cash conversion cycle (days) | 93.0 | -15.5 | -124.4 | -356.9 | -229.6 | -266.7 | -666.5 | -619.4 | -1,165.3 | -156.8 |
| Receivables turnover | 10.07 | 9.83 | 5.56 | 5.20 | 5.45 | 3.34 | 6.60 | 9.52 | 2.41 | 5.14 |
| Payables turnover | 2.90 | 1.71 | 1.19 | 0.72 | 0.82 | 0.39 | 0.36 | 0.45 | 0.22 | 0.92 |
| Inventory turnover | 2.00 | 2.28 | 3.16 | 4.54 | 2.50 | 0.66 | 1.20 | 2.35 | 1.04 | 2.19 |
| Asset turnover | 1.31 | 1.24 | 0.96 | 0.87 | 0.62 | 0.31 | 0.45 | 1.51 | 0.65 | 1.40 |
| Average receivables | $4.4M | $3.3M | $3.7M | $3.2M | $2.4M | $1.2M | $155,772 | $194,261 | $306,660 | $267,626 |
| Average payables | $3.5M | $4.7M | $5.1M | $6.0M | $6.0M | $2.9M | $1.5M | $1.5M | $1.1M | $611,115 |
| Average inventory | $5.0M | $3.5M | $1.9M | $954,000 | $2.0M | $1.7M | $450,388 | $294,676 | $231,742 | $258,430 |
| Intangibles / total assets | 27.5% | 36.5% | 52.2% | 62.4% | 70.4% | 60.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from SNWV's annual financial statements (latest annual report filed March 26, 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.
SNWV valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), SANUWAVE Health traded at 22.9 times earnings. Based on the latest twelve months, the trailing P/E is 20.7 and the forward P/E is 18.2. SANUWAVE Health earned a return on invested capital of 64.7% in fiscal 2025. It ended the year with $23.0 million of debt and $12.0 million in cash and short-term investments, net debt of $11.0 million.
See the SNWV income statement, the SNWV chart for price history, or the SNWV stock overview for the latest quote and news.
SNWV key metrics FAQ
What is SANUWAVE Health's P/E ratio?
SANUWAVE Health's trailing P/E ratio is 20.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 18.2. At the end of fiscal 2025 it was 22.9.
What is SANUWAVE Health's EV/EBITDA?
SANUWAVE Health's enterprise value was 14.5 times EBITDA at the end of fiscal 2025 (enterprise value $282.0 million, EBITDA $19.4 million); the current EV/EBITDA is 2.5.
What is SANUWAVE Health's ROIC?
SANUWAVE Health's return on invested capital was 64.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does SANUWAVE Health have?
SANUWAVE Health had total debt of $23.0 million at the end of fiscal 2025, a debt-to-equity ratio of 14.19 and $11.0 million of net debt (0.57 times EBITDA).
What is SANUWAVE Health's free cash flow yield?
SANUWAVE Health generated $1.9 million of free cash flow in fiscal 2025, a free cash flow yield of 0.7% on its market value at year-end ($271.0 million).
What is SANUWAVE Health's current ratio?
SANUWAVE Health's current ratio was 1.38 at the end of fiscal 2025: current assets were 1.38 times current liabilities.