Latest Ratios: P/E Ratio -10.5x · EV/EBITDA N/A · ROE -50.2%. (2013–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $671M | $369M | $192M | $73M | $1.0B | $825M | $275M | $78M | $243M | $693M | $581M |
| Enterprise Value | $653M | $351M | $167M | $34M | $983M | $798M | $264M | $45M | $217M | $484M | $551M |
| P/E Ratio → | -10.49 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 85.68 | 47.18 | 10.24 | 2.35 | 34.52 | 122.00 | 42.46 | 18.48 | 24.10 | 411.77 | — |
| P/B Ratio | 6.62 | 3.58 | 1.23 | 0.47 | 5.20 | 4.18 | 7.31 | 1.12 | 1.13 | 3.08 | 3.43 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 44.90 | 8.93 | 1.08 | 33.02 | 118.06 | 40.79 | 10.54 | 21.47 | 287.76 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.3% | 73.3% | 85.1% | 42.1% | 59.8% | 30.3% | 20.8% | 4.1% | 32.1% | 28.3% | — |
| Operating Margin | -975.9% | -975.9% | -758.2% | -311.6% | -302.0% | -1327.1% | -785.4% | -2627.3% | -1341.9% | -4303.2% | — |
| Net Profit Margin | -829.6% | -829.6% | -705.5% | -283.1% | -292.1% | -1344.0% | -787.0% | -3817.2% | -1315.4% | -4071.5% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -50.2% | -50.2% | -84.5% | -49.9% | -44.0% | -77.3% | -94.9% | -113.2% | -60.3% | -34.7% | -36.7% |
| ROA | -34.1% | -34.1% | -63.2% | -39.2% | -34.4% | -56.4% | -60.3% | -86.3% | -51.1% | -32.7% | -35.6% |
| ROIC | -53.0% | -53.0% | -85.6% | -53.9% | -41.6% | -68.1% | -120.8% | -74.0% | -99.0% | -69.7% | -32.8% |
| ROCE | -47.7% | -47.7% | -79.9% | -48.8% | -39.0% | -63.1% | -77.3% | -68.5% | -56.5% | -36.2% | -37.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | — | 0.00 | 0.00 | 0.00 | 0.30 | 0.01 | 0.14 | 0.00 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.17 | -0.16 | -0.25 | -0.23 | -0.14 | -0.29 | -0.48 | -0.12 | -0.93 | -0.18 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($20M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.28 | 5.28 | 3.99 | 4.16 | 10.55 | 8.94 | 3.87 | 3.74 | 6.56 | 16.37 | 27.98 |
| Quick Ratio | 5.28 | 5.28 | 3.99 | 4.16 | 10.55 | 8.94 | 3.87 | 3.74 | 6.54 | 16.86 | 27.98 |
| Cash Ratio | 3.17 | 3.17 | 3.60 | 3.85 | 9.92 | 8.35 | 3.64 | 3.27 | 6.14 | 16.37 | 22.05 |
| Asset Turnover | — | 0.05 | 0.08 | 0.16 | 0.12 | 0.03 | 0.09 | 0.04 | 0.04 | 0.01 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | 8.66 | — | — |
| Days Sales Outstanding | — | 259.55 | 6.20 | 3.48 | 5.94 | 33.63 | 43.47 | 60.79 | 20.36 | 104.32 | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $123M | $77M | $70M | $65M | $57M | $43M | $41M | $33M | $28M | $21M |
Imminent liquidity and insolvency
According to current market data, Aclaris trades at a price-to-sales multiple of 77.05, a figure that appears disconnected from fundamental performance and likely reflects speculative optionality rather than earnings power, as reported in recent financial statements which highlight a significant contraction in the company's core revenue base.
The elevated P/S ratio suggests that investors are pricing the firm based on the potential success of its early-stage pipeline rather than its current service-based revenue. This valuation appears highly fragile, as any further clinical setbacks or delays in partnership formation could lead to a rapid compression of these multiples toward liquidation value.
Based on reported figures, Aclaris has consistently generated negative returns on invested capital, with the most recent ROIC of -16.5% in 2026Q1 illustrating a structural inability to deploy capital efficiently, a trend that has persisted over the last ten quarters as the company funds high-risk clinical development.
The consistent negative ROIC indicates that the company's investments in the MK2 platform have failed to generate economic value, effectively destroying shareholder capital. This trend warrants close monitoring, as it suggests that the current R&D strategy may be fundamentally misaligned with the goal of achieving sustainable, long-term compounding returns.
As reported in quarterly filings, the company's asset turnover remains extremely low at 0.01, suggesting that the firm's asset base is largely unproductive and failing to support meaningful revenue generation, which is consistent with the broader trend of declining operational efficiency observed over the past two years.
The erratic nature of the company's days sales outstanding, which swung from 364 to 11 in recent periods, implies significant instability in the collection of service-based revenue. This volatility complicates the assessment of working capital management and suggests that the firm lacks the operational leverage required to scale its business model effectively.
Based on the company's latest financial statements, the current ratio of 4.03 provides a misleading sense of security, as the absolute cash balance of $19.96M is rapidly being consumed by operating losses, leaving the firm with a precarious runway that appears insufficient for sustained long-term clinical operations.
While the current ratio appears healthy on the surface, the lack of recurring cash flow means that the company is entirely dependent on external financing to maintain its liquidity position. Investors should monitor the potential for near-term dilutive capital raises, which appear increasingly necessary to avoid a total exhaustion of the firm's cash reserves.
As reported in financial statements, the price-to-sales ratio is the most commonly misapplied metric for Aclaris, as it fails to account for the bifurcated nature of the company's revenue, which mixes stable service fees with volatile, non-recurring milestone payments that do not reflect the underlying R&D burn rate.
Analysts should instead focus on the cash runway and the burn rate of the R&D engine, as these metrics provide a more accurate picture of the company's survival prospects. Relying on P/S multiples in a clinical-stage biotech context risks ignoring the fundamental reality that the company's primary value is tied to intangible assets rather than current sales.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying ACRS stock.
Aclaris Therapeutics, Inc.'s current P/E ratio is -10.5x. This places it at the 50th percentile of its historical range.
Aclaris Therapeutics, Inc.'s return on equity (ROE) is -50.2%. The historical average is -63.9%.
Based on historical data, Aclaris Therapeutics, Inc. is trading at a P/E of -10.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Aclaris Therapeutics, Inc. has 73.3% gross margin and -975.9% operating margin.