Latest Ratios: P/E Ratio -0.7x · EV/EBITDA N/A · ROE -189.8%. (2012–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $96M | $92M | $437M | $336M | $1.7B | $10.1B | $8.5B | $1.9B | $1.5B | $1.1B | $2.5B |
| Enterprise Value | $127M | $123M | $436M | $375M | $1.8B | $10.1B | $8.5B | $1.8B | $1.5B | $829M | $2.2B |
| P/E Ratio → | -0.66 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 96.26 | 92.38 | 121.27 | — | 230.82 | — | 34005.66 | 1199.33 | 826.47 | 722.43 | 1061.56 |
| P/B Ratio | 1.22 | 1.31 | 6.49 | 1.85 | 5.48 | 23.29 | 48.59 | 9.61 | 8.30 | 4.88 | 9.75 |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 123.43 | 121.00 | — | 239.99 | — | 33871.86 | 1103.39 | 788.54 | 569.73 | 949.84 |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | — | 100.0% | — | — | — | — | — | 100.0% |
| Operating Margin | -13915.9% | -13915.9% | -3581.7% | — | -1948.3% | — | -27418.0% | -4843.7% | -3182.6% | -7923.3% | -2062.2% |
| Net Profit Margin | -13092.7% | -13092.7% | -3392.1% | — | -1940.5% | — | -25794.4% | -4505.4% | -3036.6% | -7817.7% | -2046.3% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -189.8% | -189.8% | -98.2% | -62.1% | -38.8% | -38.6% | -34.3% | -37.7% | -28.1% | -48.6% | -23.6% |
| ROA | -78.0% | -78.0% | -52.6% | -41.3% | -31.6% | -33.3% | -29.6% | -35.0% | -25.7% | -45.6% | -22.3% |
| ROIC | -124.2% | -124.2% | -67.6% | -39.0% | -27.8% | -32.5% | -54.7% | -73.0% | -82.2% | — | — |
| ROCE | -95.1% | -95.1% | -62.6% | -45.2% | -33.2% | -35.5% | -33.8% | -39.6% | -28.3% | -47.8% | -23.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.30 | 1.30 | 1.10 | 0.59 | 0.33 | 0.07 | 0.19 | 0.00 | 0.00 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.44 | -0.01 | 0.21 | 0.22 | -0.07 | -0.19 | -0.77 | -0.38 | -1.03 | -1.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.73 | 5.73 | 5.14 | 5.91 | 14.88 | 20.82 | 9.06 | 19.48 | 18.15 | 22.76 | 39.70 |
| Quick Ratio | 5.73 | 5.73 | 5.14 | 5.91 | 14.88 | 20.82 | 9.06 | 19.48 | 18.15 | 22.76 | 39.70 |
| Cash Ratio | 5.49 | 5.49 | 4.83 | 5.76 | 14.31 | 20.59 | 8.55 | 19.13 | 17.85 | 22.45 | 39.41 |
| Asset Turnover | — | 0.01 | 0.02 | — | 0.02 | — | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | 277.84 | — | — | — | — | 222.26 | 70.67 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | — | $20M | $58M | $58M | $98M | $93M | $74M | $61M | $44M | $36M | $26M |
Clinical trial funding insolvency
Based on reported figures, the company's P/S ratio of 96.26 reflects a market valuation detached from current operational output, as investors appear to be pricing in speculative future clinical success rather than any tangible financial performance or historical revenue generation metrics found in recent SEC filings.
The extreme P/S multiple suggests that the market is valuing the company purely as a real option on its gene therapy pipeline rather than a going concern. This valuation is highly sensitive to clinical trial outcomes, and any negative data readouts could lead to a rapid compression of these multiples as the probability of success is reassessed.
According to recent financial statements, the company's ROIC has plummeted to -191.6% in 2025Q3, illustrating a severe decay in capital efficiency as the firm continues to deploy significant resources into clinical development without generating any offsetting returns on invested capital or operational income.
The persistent negative ROIC is a direct consequence of the company's pre-commercial status, where capital is consumed to fund long-term R&D rather than to generate immediate returns. This trend warrants further investigation into whether the current capital allocation is effectively moving the pipeline toward commercial viability or merely extending the period of cash burn.
As reported in quarterly filings, the current ratio has deteriorated significantly from 9.24 in 2024Q1 to 0.65 in 2025Q3, indicating that the company's liquid assets are no longer sufficient to cover its short-term obligations as the cash runway continues to shrink toward a potential insolvency event.
The rapid decline in the current ratio suggests that the company is facing mounting pressure to secure additional funding to meet its immediate operational liabilities. Investors should monitor the company's ability to manage its working capital, as the current liquidity position leaves little room for error in the event of clinical delays or unexpected cost overruns.
Based on the provided financial data, the use of P/E or EV/EBITDA ratios is fundamentally misapplied to this business model, as these metrics obscure the reality that the company is a pre-revenue clinical-stage entity where traditional earnings-based valuation is entirely irrelevant to its current operational status.
Analysts should instead focus on cash runway and probability-adjusted net present value of the pipeline, as these metrics better capture the economic reality of the business. Relying on earnings multiples in this context may lead to erroneous conclusions about the company's financial health or its potential for future growth.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying ADVM stock.
Adverum Biotechnologies, Inc.'s current P/E ratio is -0.7x. This places it at the 50th percentile of its historical range.
Adverum Biotechnologies, Inc.'s return on equity (ROE) is -189.8%. The historical average is -57.6%.
Based on historical data, Adverum Biotechnologies, Inc. is trading at a P/E of -0.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Adverum Biotechnologies, Inc. has 100.0% gross margin and -13915.9% operating margin.