Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE N/A. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $8M | $11M | $22M | $40.0B | — | — | — | — |
| Enterprise Value | $41M | $44M | $35M | $39.9B | — | — | — | — |
| P/E Ratio → | -0.18 | — | 0.53 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | 0.48 | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | 100.0% | 100.0% |
| Operating Margin | — | — | — | — | — | — | -650.8% | -1607.6% |
| Net Profit Margin | — | — | — | — | — | — | -1307.1% | 5151.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — |
| ROA | -901.4% | -901.4% | 841.2% | -4365.1% | -610.6% | -402.4% | -48.6% | 151.2% |
| ROIC | — | — | — | — | — | — | — | — |
| ROCE | — | — | — | — | — | -4971.5% | -28.8% | -55.7% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | 0.18 | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | — | — | 0.18 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -1092.53 | -6.48 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.49 | 0.49 | 0.11 | 0.48 | 0.12 | 0.25 | 4.85 | 6.41 |
| Quick Ratio | 0.49 | 0.49 | 0.11 | 0.48 | 0.12 | 0.25 | 4.85 | 6.41 |
| Cash Ratio | 0.44 | 0.44 | 0.00 | 0.40 | 0.12 | 0.25 | 4.81 | 6.39 |
| Asset Turnover | — | — | — | — | — | — | 0.12 | 0.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | 29.03 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 187.6% | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $10M | $575945 | $77M | $2M | $2M | $91622 | $92301 |
Imminent liquidity and dilution
As reported in recent financial filings, AEON's current ratio has deteriorated to 0.99 in 2026Q1, signaling that the company's liquid assets are insufficient to cover its immediate short-term obligations, a precarious position that warrants close monitoring by investors concerned with the firm's ability to sustain ongoing clinical trials.
The decline in the current ratio from historical highs suggests that the company is exhausting its working capital to fund non-discretionary R&D expenses. This liquidity profile implies that the firm is likely approaching a critical funding inflection point where external capital will be required to avoid a potential going concern issue.
According to the provided financial data, the company's accounts payable turnover reached 5739 in 2026Q1, which, when viewed alongside the absence of revenue, suggests that management is aggressively managing vendor payment cycles to preserve cash, a strategy that may not be sustainable over the long term.
The extreme volatility in working capital metrics indicates that the company is likely prioritizing payments to critical clinical trial vendors while delaying other obligations. This behavior is typical of firms in a cash-constrained environment and suggests that operational flexibility is currently non-existent.
Based on reported figures, AEON's return on assets has fluctuated significantly, reaching -166.2% in 2026Q1, which underscores the company's inability to generate productive returns on its invested capital while it remains in the pre-revenue, high-burn phase of its clinical development lifecycle.
The lack of positive ROIC or ROE is expected for a clinical-stage biotech, but the magnitude of the negative returns highlights the high cost of capital required to advance the ABP-450 program. Investors should interpret these figures as a reflection of the company's current status as a capital-consuming entity rather than a capital-compounding one.
As noted in institutional research, the use of P/E or EV/EBITDA ratios is fundamentally misapplied to AEON, as these metrics obscure the company's lack of commercial revenue and the reality that its valuation is driven entirely by clinical trial milestones rather than current earnings power.
Applying traditional valuation multiples to a pre-revenue firm like AEON ignores the binary nature of its business model, where success is contingent on regulatory approval rather than operational efficiency. Analysts should instead focus on cash runway and the probability-weighted net present value of the lead asset, ABP-450, to assess the company's true worth.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying AEON stock.
AEON Biopharma, Inc.'s current P/E ratio is -0.2x. The historical average is 0.5x.
Based on historical data, AEON Biopharma, Inc. is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.