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SMART Global Holdings SGH
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Quarterly report 2026-Q3
added 07-07-2026

SMART Global Holdings Financial Ratios 2025-2011 | SGH

Brief overview of SMART Global Holdings's market valuation

The review covers five available annual periods spanning 2018 to 2025.

The current valuation set is P/E 43.15x (median 11.17x), EV/EBITDA 14.21x (median 7.52x), P/S 3.24x (median 3.24x). The combined ratio level is close to the company's five-year norm at a +9.6% deviation. No clear premium or discount is visible.

The inverse P/E implies an earnings yield of 2.3%. This is not a dividend yield, but current earnings relative to market price.

Capital efficiency is characterized by ROE 6.4%, ROA 1.6%, ROCE 3.2%. Profitability sends a weak positive signal and leaves the business sensitive to cost or demand pressure.

Price, earnings and growth produce a PEG of 1.72x. A high value reduces the cushion if growth slows.

The cash conversion cycle lengthened from 242.6 days to 294.2 days, or 51.6 days. More cash is tied up in operations.

Overall picture

SMART Global Holdings's market valuation is near its own historical norm, while quality ratios provide no extreme signal.

Annual Financial Ratios SMART Global Holdings

2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

P/E

43.2 -21.3 -3.7 9.5 66.0 -755.7 11.2 5.3 -44.6 - - - - - -

P/S

3.2 3.3 2.6 1.6 3.9 0.8 0.5 0.5 0.5 - - - - - -

EPS

0.3 -1 -3.8 1.4 0.4 -0.0 2.2 5.4 -0.5 -1.4 -3.4 - - - -

EV (Enterprise Value)

1.65 B 1.81 B 1.61 B 1.51 B 2.21 B 1.22 B 906 M 1.09 B 723 M 401 M 556 M - - - -

EBITDA per Share

1.31 1.55 1.4 1.26 1.05 1.62 5.15 8.77 4.04 - - - - - -

EV/EBITDA

24.0 21.8 22.1 24.6 14.2 8.5 5.6 4.2 7.5 - - - - - -

PEG

-24.4 1.72 0.16 -5.99 - 5.31 -0.19 -0.0 0.92 - - - - - -

P/B

1.8 2.8 3.1 1.7 4.4 3.1 2.1 3.4 4.2 - - - - - -

P/CF

10.0 14.4 6.7 6.0 9.2 9.9 4.2 15.0 -17.7 - - - - - -

ROE %

6.44 -13.41 -84.29 17.91 6.68 -0.41 18.77 63.84 -9.46 - - - - - -

ROA %

1.57 -3.56 -12.45 4.23 1.58 -0.15 7.29 17.76 -1.62 - - - - - -

ROCE %

3.16 4.43 0.59 4.00 5.13 14.65 19.11 44.36 12.72 - - - - - -

Current Ratio

1.6 1.4 1.2 1.3 1.3 1.6 2.0 1.8 1.4 - - - - - -

DSO

302.2 252.0 382.1 311.3 271.1 70.5 70.7 71.0 89.9 - - - - - -

DIO

76.1 71.7 78.0 113.9 117.5 56.8 44.5 81.0 77.5 - - - - - -

DPO

84.2 69.7 76.2 131.3 146.1 78.5 61.8 81.7 115.6 - - - - - -

Operating Cycle

378.4 323.7 460.2 425.3 388.7 127.2 115.2 152.0 167.4 - - - - - -

Cash Conversion Cycle

294.2 254.0 384.0 294.0 242.6 48.8 53.4 70.3 51.8 - - - - - -

All numbers in USD currency

Quarterly Financial Ratios SMART Global Holdings

2026-Q3 2026-Q2 2026-Q1 2025-Q3 2025-Q2 2025-Q1 2024-Q4 2024-Q3 2024-Q2 2024-Q1 2023-Q4 2023-Q3 2023-Q2 2023-Q1 2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

0.73 0.59 0.59 - -0.01 0.09 0.1 - 0.11 -0.26 -0.38 - -0.5 -0.55 0.1 - 0.48 0.05 0.41 0.01 -0.15 0.12 0.08 0.31 0.03 0.08 0.01 0.24 0.08 0.01 1.37 1.33 1.44 1.37 0.97 -0.48 0.57 0.97 -0.23 -0.11 -0.1 -0.46 -0.78 - - - - - - - - - - - - - - - - - - -

EBITDA per Share

1.74 0.98 0.59 - 0.28 0.44 0.6 - 0.33 0.07 0.36 - 0.09 0.08 0.65 - 0.92 0.55 1.03 1.15 0.42 0.38 0.65 1.85 1.21 0.65 0.65 1.35 0.9 0.65 2.4 2.84 2.76 2.4 1.74 2.14 2.02 1.74 0.88 1.98 0.93 -0.03 -0.19 - - - - - - - - - - - - - - - - - - -

ROE %

29.61 20.75 12.56 3.08 4.38 0.62 -5.49 -6.79 -14.34 -23.85 -19.15 -14.37 -8.22 0.01 14.45 13.06 13.28 4.81 6.00 0.50 2.96 6.00 4.84 4.20 1.61 0.98 0.33 13.73 27.14 40.54 53.95 61.73 35.86 32.03 39.81 136.65 9.66 21.27 - 118.11 - - - - - - - - - - - - - - - - - - - - - -

ROA %

6.47 4.87 3.06 0.92 1.29 0.24 -1.43 -1.76 -3.42 -3.50 -1.05 0.17 0.17 0.33 3.55 3.28 3.33 1.24 1.51 0.21 1.11 1.91 1.73 1.50 0.58 0.35 0.12 4.11 8.69 13.26 17.83 17.78 11.05 8.10 7.88 3.59 1.66 4.38 - -0.32 - - - - - - - - - - - - - - - - - - - - - -

ROCE %

26.28 17.72 15.55 9.04 11.71 9.23 6.52 2.18 1.45 -1.85 3.08 2.77 11.76 17.23 28.33 24.20 31.76 23.70 23.14 15.40 13.95 16.59 15.15 14.58 12.68 11.83 11.26 29.91 45.28 63.76 82.41 93.47 98.84 102.38 113.43 -241.71 24.74 31.87 - -323.28 - - - - - - - - - - - - - - - - - - - - - -

Current Ratio

1.4 1.5 1.5 1.6 1.5 1.5 1.4 1.4 1.4 1.4 1.3 1.2 - 1.2 1.2 1.3 1.4 1.3 1.3 1.3 1.3 1.3 1.6 1.6 1.6 1.6 1.5 1.6 1.6 1.6 1.4 1.4 1.4 1.4 1.2 1.2 1.2 1.2 - 1.0 - - - - - - - - - - - - - - - - - - - - - -

DSO

- - - - 87.7 75.6 70.5 - 57.9 54.5 64.9 - 30.4 62.9 83.5 - 73.3 74.2 63.8 27.7 65.3 79.0 67.1 66.3 70.0 69.6 74.8 71.3 84.2 91.9 65.8 57.9 64.5 68.8 72.1 75.0 80.8 48.6 40.4 44.0 - - - - - - - - - - - - - - - - - - - - - -

DIO

108.4 118.0 105.7 - 76.5 78.1 74.7 - 75.5 85.7 91.4 - 55.1 116.9 120.6 - 91.7 88.4 89.4 39.4 93.9 93.0 59.2 22.4 65.5 61.6 58.4 14.5 56.2 64.4 60.5 28.6 78.5 51.6 56.1 27.4 72.7 27.9 36.3 15.1 - - - - - - - - - - - - - - - - - - - - - -

DPO

150.2 146.9 122.4 - 101.6 84.4 80.0 - 73.2 74.2 75.5 - 31.4 81.1 109.4 - 100.2 102.2 105.4 46.5 111.0 121.1 87.8 30.8 90.3 85.7 81.5 20.1 78.1 91.9 73.4 28.9 79.1 67.7 93.4 40.8 108.5 41.7 69.7 29.0 - - - - - - - - - - - - - - - - - - - - - -

Operating Cycle

- - 105.7 - 164.1 153.8 145.2 - 133.4 140.2 156.3 - - 179.8 204.0 - 165.0 162.6 153.2 67.0 159.3 172.0 126.3 88.7 135.5 131.2 133.3 85.8 140.4 156.3 126.3 86.5 143.0 120.5 128.2 102.4 153.5 76.6 76.7 59.1 - - - - - - - - - - - - - - - - - - - - - -

Cash Conversion Cycle

- - -16.7 - 62.5 69.4 65.3 - 60.1 66.1 80.8 - - 98.7 94.7 - 64.8 60.4 47.9 20.5 48.3 50.9 38.4 57.9 45.2 45.5 51.7 65.7 62.3 64.4 52.9 57.6 63.9 52.7 34.8 61.5 45.0 34.9 7.0 30.1 - - - - - - - - - - - - - - - - - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company SMART Global Holdings, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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