Xtant Medical Holdings, Inc. (XTNT) Key Metrics
XTNT valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $40.2M
- Enterprise value
- $68.7M
- P/E (TTM)
- —
- Forward P/E
- 34.8
- PEG ratio
- 1.74
- Price / sales
- 0.4 10-yr median 0.9
- Price / book
- 1.3 10-yr median 2.1
- EV / EBITDA
- 5.6 10-yr median 31.7
- Dividend yield
- —
- Beta
- −0.20
XTNT key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsXTNT valuation Price multiples at each fiscal year-end price.
XTNT returns How much profit the business earns on the capital it uses.
XTNT per-share figures Results divided by the shares outstanding at year-end.
XTNT financial health Debt, liquidity and how easily interest is covered.
XTNT efficiency & capital use Working capital cycle and where the cash goes.
XTNT valuation history
XTNT returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
XTNT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
XTNT cash returned to shareholders
XTNT price vs earnings per share
XTNT key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $117.0M | $58.8M | $143.3M | $62.1M | $47.9M | $34.1M | — | — | — | — |
| Enterprise value | $128.7M | $87.8M | $161.1M | $58.9M | $46.5M | $50.3M | — | — | — | — |
| P/E ratio | 23.5 | — | 217.1 | — | — | — | — | — | — | — |
| Price / sales | 0.9 | 0.5 | 1.6 | 1.1 | 0.9 | 0.6 | — | — | — | — |
| Price / book | 2.3 | 1.4 | 2.8 | 1.8 | 1.5 | 2.3 | — | — | — | — |
| Price / free cash flow | 11.5 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 9.3 | — | — | — | 109.0 | — | — | — | — | — |
| EV / sales | 1.0 | 0.7 | 1.8 | 1.0 | 0.8 | 0.9 | — | — | — | — |
| EV / EBITDA | 8.1 | — | 31.7 | — | — | 37.9 | — | — | — | — |
| EV / free cash flow | 12.7 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 4.2% | −28.0% | 0.5% | −13.7% | −10.1% | −20.6% | — | — | — | — |
| Free cash flow yield | 8.7% | −27.2% | −7.7% | −11.4% | −3.5% | −6.7% | — | — | — | — |
| Dividend yield | — | — | — | — | 0.4% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 0.1% | — | 0.2% | 0.0% | 0.8% | 0.0% | — | — | — | — |
| Share price at fiscal year-end | $0.78 | $0.44 | $1.13 | $0.66 | $0.56 | $1.20 | $1.60 | $1.61 | $6.87 | $6.60 |
| Per share | ||||||||||
| Revenue per share | $0.89 | $0.88 | $0.72 | $0.62 | $0.65 | $1.87 | — | — | — | — |
| Earnings per share | $0.03 | −$0.12 | $0.01 | −$0.09 | −$0.06 | −$0.25 | — | — | — | — |
| Operating cash flow per share | $0.08 | −$0.09 | −$0.08 | −$0.06 | $0.01 | −$0.03 | — | — | — | — |
| Free cash flow per share | $0.07 | −$0.12 | −$0.09 | −$0.08 | −$0.02 | −$0.08 | — | — | — | — |
| Cash per share | $0.11 | $0.05 | $0.05 | $0.22 | $0.21 | $0.08 | — | — | — | — |
| Book value per share | $0.34 | $0.32 | $0.40 | $0.36 | $0.36 | $0.51 | — | — | — | — |
| Tangible book value per share | $0.30 | $0.20 | $0.27 | $0.33 | $0.32 | $0.38 | — | — | — | — |
| Dividends per share | — | — | — | — | $0.00 | — | — | — | — | — |
| Capex per share | $0.02 | $0.03 | $0.01 | $0.02 | $0.02 | $0.05 | — | — | — | — |
| Debt per share | $0.19 | $0.26 | $0.19 | $0.18 | $0.20 | $0.65 | — | — | — | — |
| Shares outstanding | 150.0M | 133.7M | 126.8M | 94.1M | 85.5M | 28.5M | — | — | — | — |
| Change in shares outstanding | +12.3% | +5.4% | +34.8% | +10.1% | +199.8% | — | — | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 10.6% | −34.9% | 1.5% | −26.1% | −21.4% | — | — | — | — | — |
| Return on invested capital (ROIC) | 7.7% | −13.5% | −16.0% | −17.7% | −10.1% | −2.0% | −6.5% | −90.1% | −30.1% | −5.1% |
| Return on assets (ROA) | 5.3% | −17.6% | 0.9% | −14.8% | −10.1% | −16.6% | −18.4% | −92.2% | −42.0% | −13.6% |
| Return on tangible assets | 5.7% | −21.0% | 0.9% | −15.0% | −9.5% | −18.6% | −20.8% | −164.4% | −104.1% | −29.3% |
| Free cash flow margin | 7.6% | −13.7% | −12.0% | −12.3% | −3.0% | −4.3% | −2.0% | 0.8% | −2.6% | −22.5% |
| Income quality (OCF / net income) | 2.52 | — | −14.42 | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $28.7M | $35.1M | $23.6M | $17.1M | $16.8M | $18.5M | $78.5M | $78.6M | $139.0M | $130.7M |
| Cash & short-term investments | $17.1M | $6.2M | $5.7M | $20.3M | $18.2M | $2.3M | $5.2M | $6.8M | $2.9M | $2.6M |
| Net debt | $11.7M | $28.9M | $17.8M | −$3.2M | −$1.4M | $16.2M | $73.3M | $71.8M | $136.1M | $128.2M |
| Debt / equity | 0.56 | 0.82 | 0.46 | 0.50 | 0.55 | 1.28 | — | — | — | — |
| Debt / assets | 0.31 | 0.37 | 0.25 | 0.28 | 0.31 | 0.45 | 1.82 | 1.69 | 1.31 | 0.91 |
| Net debt / EBITDA | 0.73 | — | 3.52 | — | — | 12.20 | 92.55 | — | — | — |
| Current ratio | 2.65 | 2.35 | 2.82 | 3.24 | 4.00 | 1.22 | 3.43 | 2.88 | 1.53 | 1.57 |
| Quick ratio | 1.63 | 1.00 | 1.22 | 2.10 | 2.38 | 0.39 | 1.72 | 1.44 | 0.67 | 0.73 |
| Interest coverage | 2.0 | -2.9 | -3.5 | -4.0 | -3.9 | -0.1 | -0.4 | -5.9 | -2.6 | -0.6 |
| Working capital | $48.8M | $38.5M | $41.9M | $34.1M | $33.3M | $5.7M | $22.9M | $22.6M | $13.7M | $17.9M |
| Invested capital | $62.6M | $71.9M | $69.2M | $30.9M | $29.5M | $30.7M | $29.1M | $28.0M | $77.4M | $121.1M |
| Tangible asset value | $44.6M | $27.3M | $34.0M | $30.6M | $27.3M | $10.9M | −$47.9M | −$47.5M | −$114.1M | −$84.5M |
| Net current asset value | $35.1M | $16.2M | $23.6M | $23.3M | $20.5M | $4.4M | −$55.1M | −$55.5M | −$124.9M | −$102.2M |
| Graham number | $0.50 | — | $0.22 | — | — | — | — | — | — | — |
| Graham net-net per share | $0.02 | −$0.07 | −$0.01 | $0.12 | $0.10 | −$0.31 | — | — | — | — |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | $201,000 | — | — | — | — | $0 |
| Share buybacks (net) | $65,000 | — | $261,000 | $0 | $201,000 | $0 | — | $0 | $0 | $0 |
| Dividends + buybacks / free cash flow | 0.6% | — | — | — | — | — | — | 0.0% | — | — |
| Capex / revenue | 1.8% | 3.5% | 1.6% | 3.0% | 3.8% | 2.9% | 1.4% | 0.9% | 2.0% | 6.5% |
| Capex / operating cash flow | 19.0% | — | — | — | 481.8% | — | — | 51.5% | — | — |
| Capex / depreciation | 0.46 | 0.97 | 0.46 | 1.37 | 1.59 | 0.74 | 0.28 | 0.09 | 0.20 | 0.81 |
| Stock-based compensation / revenue | 2.2% | 3.5% | 3.0% | 4.3% | 4.0% | 2.0% | 0.8% | 1.0% | 0.3% | 0.6% |
| R&D / revenue | 1.6% | 2.0% | 1.5% | 1.6% | 1.6% | 1.2% | 1.4% | 2.4% | 3.0% | 3.8% |
| SG&A / revenue | 55.9% | 66.4% | 70.4% | 65.5% | 64.2% | 64.7% | 67.7% | 62.4% | 67.6% | 66.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 52.4 | 64.4 | 63.1 | 56.7 | 46.3 | 58.2 | 56.8 | 57.4 | 70.0 | 69.7 |
| Days of inventory on hand | 253.2 | 281.0 | 275.9 | 248.9 | 315.4 | 361.3 | 275.0 | 251.2 | 272.2 | 322.4 |
| Days payables outstanding | 43.2 | 55.7 | 53.7 | 43.1 | 39.3 | 43.1 | 71.2 | 100.3 | 111.1 | 130.8 |
| Cash conversion cycle (days) | 262.4 | 289.7 | 285.3 | 262.5 | 322.4 | 376.4 | 260.5 | 208.3 | 231.2 | 261.3 |
| Receivables turnover | 6.96 | 5.67 | 5.78 | 6.44 | 7.88 | 6.27 | 6.43 | 6.36 | 5.21 | 5.24 |
| Payables turnover | 8.44 | 6.55 | 6.80 | 8.46 | 9.29 | 8.46 | 5.12 | 3.64 | 3.29 | 2.79 |
| Inventory turnover | 1.44 | 1.30 | 1.32 | 1.47 | 1.16 | 1.01 | 1.33 | 1.45 | 1.34 | 1.13 |
| Asset turnover | 1.42 | 1.26 | 1.19 | 1.01 | 1.15 | 1.26 | 1.44 | 0.95 | 0.66 | 0.63 |
| Average receivables | $19.2M | $20.7M | $15.8M | $9.0M | $7.0M | $8.5M | $10.1M | $11.4M | $15.9M | $17.2M |
| Average payables | $5.9M | $7.5M | $5.3M | $3.1M | $2.5M | $2.2M | $4.3M | $7.9M | $9.9M | $9.9M |
| Average inventory | $34.4M | $37.8M | $27.1M | $17.6M | $19.7M | $18.8M | $16.7M | $19.8M | $24.2M | $24.5M |
| Intangibles / total assets | 6.8% | 16.7% | 18.8% | 5.9% | 6.6% | 8.8% | 8.6% | 8.1% | 52.4% | 53.8% |
Computed from XTNT's annual financial statements (latest annual report filed March 31, 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.
XTNT valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Xtant Medical traded at 23.5 times earnings. Xtant Medical earned a return on equity of 10.6% and a return on invested capital of 7.7% in fiscal 2025. It ended the year with $28.7 million of debt and $17.1 million in cash and short-term investments, net debt of $11.7 million. It returned $0.1 million to shareholders: $0 in dividends and $0.1 million in share buybacks, 1% of free cash flow.
See the XTNT income statement, the XTNT chart for price history, or the XTNT stock overview for the latest quote and news.
XTNT key metrics FAQ
What is Xtant Medical's P/E ratio?
Xtant Medical traded at 23.5 times earnings at the end of fiscal 2025.
What is Xtant Medical's EV/EBITDA?
Xtant Medical's enterprise value was 8.1 times EBITDA at the end of fiscal 2025 (enterprise value $128.7 million, EBITDA $15.9 million); the current EV/EBITDA is 5.6.
What is Xtant Medical's return on equity?
Xtant Medical's return on equity (ROE) was 10.6% in fiscal 2025: net income of $5.0 million on average shareholders' equity of $47.0 million.
What is Xtant Medical's ROIC?
Xtant Medical's return on invested capital was 7.7% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Xtant Medical have?
Xtant Medical had total debt of $28.7 million at the end of fiscal 2025, a debt-to-equity ratio of 0.56 and $11.7 million of net debt (0.73 times EBITDA).
Does Xtant Medical buy back its shares?
Yes. Xtant Medical spent $0.1 million on net share repurchases in fiscal 2025 Shares outstanding changed +12.3% over the year, to 150.0M..
What is Xtant Medical's free cash flow yield?
Xtant Medical generated $10.2 million of free cash flow in fiscal 2025, a free cash flow yield of 8.7% on its market value at year-end ($117.0 million).
What is Xtant Medical's current ratio?
Xtant Medical's current ratio was 2.65 at the end of fiscal 2025: current assets were 2.65 times current liabilities.