Latest Ratios: P/E Ratio -9.1x · EV/EBITDA N/A · ROE -8.2%. (1996–2025 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 | $340M | $290M | $199M | $355M | $485M | $1.4B | $1.9B | $7.3B | $4.0B | $1.1B | $653M |
| Enterprise Value | $218M | $167M | $86M | $164M | $278M | $1.1B | $1.7B | $6.8B | $3.9B | $1.1B | $671M |
| P/E Ratio → | -9.09 | — | — | — | — | 177.37 | — | — | — | — | — |
| P/S Ratio | 1.59 | 1.36 | 0.87 | 1.16 | 1.31 | 2.33 | 3.04 | 17.09 | 17.65 | 5.99 | 5.02 |
| P/B Ratio | 0.74 | 0.63 | 0.41 | 0.64 | 0.82 | 2.03 | 2.97 | 12.07 | 26.56 | — | — |
| P/FCF | 50.49 | 42.95 | — | 51.53 | — | — | — | — | — | — | — |
| P/OCF | 50.49 | 42.95 | — | 51.35 | — | — | — | — | — | — | — |
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 | — | 0.78 | 0.38 | 0.53 | 0.75 | 1.96 | 2.75 | 15.73 | 16.91 | 6.26 | 5.16 |
| EV / EBITDA | — | — | — | — | — | 85.75 | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 100.31 | — | — | — | — | — |
| EV / FCF | — | 24.76 | — | 23.85 | — | — | — | — | — | — | — |
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 | 56.6% | 56.6% | 35.6% | 53.9% | 65.7% | 79.2% | 78.6% | 77.7% | 76.2% | 75.2% | 73.6% |
| Operating Margin | -6.5% | -6.5% | -40.2% | -22.0% | -28.7% | 1.8% | -3.2% | -5.6% | -47.2% | -25.2% | -50.4% |
| Net Profit Margin | -18.2% | -18.2% | -35.9% | -19.3% | -28.7% | 1.3% | -2.9% | -5.3% | -50.8% | -37.5% | -66.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.2% | -8.2% | -15.8% | -10.3% | -16.8% | 1.2% | -2.9% | -6.0% | -267.0% | — | — |
| ROA | -5.7% | -5.7% | -10.8% | -6.9% | -10.8% | 0.8% | -1.9% | -3.6% | -42.6% | -41.3% | -50.7% |
| ROIC | -2.9% | -2.9% | -18.7% | -13.5% | -18.8% | 1.7% | -6.2% | -543.6% | — | — | -551.5% |
| ROCE | -2.8% | -2.8% | -17.0% | -11.3% | -16.0% | 1.5% | -3.0% | -5.6% | -76.9% | -63.4% | -61.5% |
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 | 0.03 | 0.03 | 0.02 | 0.02 | 0.02 | 0.01 | 0.01 | 0.10 | 0.53 | — | — |
| Debt / EBITDA | — | — | — | — | — | 0.64 | — | — | — | — | — |
| Net Debt / Equity | — | -0.27 | -0.23 | -0.35 | -0.35 | -0.32 | -0.28 | -0.96 | -1.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | -15.79 | — | — | — | — | — |
| Debt / FCF | — | -18.19 | — | -27.68 | — | — | — | — | — | — | — |
| Interest Coverage | -5148.71 | -5148.71 | -11027.57 | -6734.75 | -6919.33 | 88.52 | -5.67 | -2.39 | -12.09 | -4.61 | -3.07 |
Net cash position: cash ($135M) exceeds total debt ($12M)
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 | 3.34 | 3.34 | 3.31 | 2.80 | 2.66 | 2.37 | 2.86 | 3.53 | 2.40 | 1.41 | 1.92 |
| Quick Ratio | 2.33 | 2.33 | 2.39 | 1.80 | 1.77 | 1.74 | 2.25 | 3.21 | 2.04 | 1.13 | 1.65 |
| Cash Ratio | 1.56 | 1.56 | 1.64 | 1.24 | 1.19 | 1.23 | 1.63 | 2.66 | 1.58 | 0.68 | 1.29 |
| Asset Turnover | — | 0.32 | 0.33 | 0.37 | 0.42 | 0.55 | 0.64 | 0.49 | 0.59 | 1.12 | 0.78 |
| Inventory Turnover | 0.47 | 0.47 | 0.89 | 0.55 | 0.55 | 0.52 | 0.70 | 1.25 | 0.94 | 1.49 | 1.68 |
| Days Sales Outstanding | — | 216.68 | 195.23 | 158.84 | 129.50 | 102.43 | 91.88 | 98.89 | 105.93 | 91.33 | 56.08 |
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 | — | — | — | — | — | 0.6% | — | — | — | — | — |
| FCF Yield | 2.0% | 2.3% | — | 1.9% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.3% | 0.0% |
| Shares Outstanding | — | $21M | $21M | $20M | $20M | $20M | $19M | $17M | $15M | $14M | $11M |
Single product revenue erosion
Based on reported figures, Amarin trades at a price-to-sales ratio of 1.55, a multiple that appears to price the company as a speculative asset rather than a stable pharmaceutical entity, reflecting deep market skepticism regarding the long-term viability of its single-product commercial strategy in the face of generic competition.
The negative P/E ratio and the lack of a forward P/E multiple suggest that the market is currently unable to anchor the stock to traditional earnings-based valuation metrics. Investors should monitor whether the current P/S multiple represents a floor or if further compression is warranted as the U.S. revenue base continues to erode.
As reported in financial statements, Amarin's ROIC has remained consistently negative, reaching -1.8% in 2026Q1, which indicates that the company is currently failing to generate returns on invested capital that exceed its cost of capital, a trend that has persisted throughout the last ten quarters of operations.
The inability to achieve positive returns on capital suggests that the company's historical investments in clinical trials and commercial infrastructure have not yet translated into a self-sustaining business model. This persistent decay in capital efficiency warrants further investigation into whether the current asset base can ever generate meaningful shareholder value.
According to recent SEC filings, Amarin's cash conversion cycle remains highly inefficient, peaking at 928 days in 2024Q1 and remaining elevated at 748 days in 2026Q1, which highlights significant challenges in managing inventory and collecting receivables relative to the company's shrinking revenue base in the cardiovascular market.
The exceptionally high days inventory outstanding (DIO) suggests that the company may be holding excess API or finished goods that are not moving through the supply chain as anticipated. This inefficiency ties up critical cash resources that could otherwise be deployed to support the European commercial rollout.
Based on the latest quarterly data, Amarin maintains a current ratio of 3.48, which appears superficially healthy; however, this liquidity position is heavily dependent on inventory levels that may be subject to future write-downs, potentially overstating the company's actual ability to meet short-term obligations under severe stress.
While the quick ratio of 2.46 provides a more conservative view of liquidity, the ongoing cash burn from operations suggests that this buffer is being consumed to fund the commercial transition. Investors should monitor the rate of cash depletion, as the current liquidity position may not be as robust as the headline ratios imply.
The current ratio is the most commonly misapplied metric for Amarin, as it obscures the underlying quality of the company's working capital, specifically the high levels of potentially obsolete inventory that inflate current assets without providing a reliable source of near-term cash for operational needs.
Analysts should instead focus on the cash burn rate and the composition of current assets, as the current ratio provides a false sense of security in a business model where inventory turnover is structurally low. A more accurate assessment would involve adjusting current assets for potential inventory impairments and focusing on the net cash runway.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying AMRN stock.
Amarin Corporation plc's current P/E ratio is -9.1x. The historical average is 55.1x.
Amarin Corporation plc's return on equity (ROE) is -8.2%. The historical average is -57.2%.
Based on historical data, Amarin Corporation plc is trading at a P/E of -9.1x. Compare with industry peers and growth rates for a complete picture.
Amarin Corporation plc has 56.6% gross margin and -6.5% operating margin.