# Cerebras Systems CDR (CAD Hedged) (CBRS.TO) fundamentals

Data as of 2026-11-04. TSX, Canada. Sector: null. Price C$13.94, market value C$32.8 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Cerebras Systems CDR (CAD Hedged) reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 56.8×**. Each dollar of revenue is priced at 56.8×, a level that requires very high margins or very fast growth to justify.
- **Free-cash-flow yield: -2.8%**. Free cash flow is negative: the business is consuming cash, which is normal for heavy investment phases but a warning otherwise.

## Profitability
- **Gross margin: 32.2%**. Cerebras Systems CDR (CAD Hedged) keeps 32.2% of revenue after the direct cost of what it sells.
- **Operating margin: -100.3%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: 46.6%**. 46.6% of each dollar of sales reaches the bottom line.
- **Return on equity: -41.1%**. Return on equity is negative because earnings are negative.
- **Return on invested capital: 40.6%**. Return on all capital, debt included, is 40.6%: comfortably above what that capital costs.
- **Return on assets: -7.7%**. Each dollar of assets produces -7.7% of profit.

## Growth
- **Revenue growth (1 yr): 75.7%** (3-yr 174.6%/yr). Revenue grew 75.7% over the last year.
- **EPS growth (1 yr): 115.7%**. Earnings per share rose 115.7%, faster than revenue, so margins expanded or the share count shrank.

## Financial health
- **Net debt / EBITDA: 10.2×**. It would take 10.2 years of operating earnings to repay net borrowings, above the 3× level most lenders treat as comfortable.
- **Current ratio: 2.15** (quick 2.06). Current assets cover the next year's liabilities 2.15 times.
- **Altman Z-score: 7.65**. A Z-score of 7.65 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Cerebras Systems CDR (CAD Hedged) does not currently pay a dividend.

## Price and momentum
- **From 52-week high: -21.5%** (3.3% above the low). Trading 21% below its 52-week high.

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Not investment advice.