Latest Ratios: P/E Ratio -11.7x · EV/EBITDA N/A · ROE -41.8%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $902M | $514M | $104M | — | — | — |
| Enterprise Value | $730M | $341M | $-47218540 | — | — | — |
| P/E Ratio → | -11.74 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 4.91 | 3.40 | 0.69 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | 31.0% |
| Operating Margin | — | — | — | — | — | -5741.0% |
| Net Profit Margin | — | — | — | — | — | -4374.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -41.8% | -41.8% | -154.0% | — | — | — |
| ROA | -34.9% | -34.9% | -46.5% | -52.8% | -69.6% | -31.9% |
| ROIC | — | — | — | — | — | — |
| ROCE | -38.9% | -38.9% | -55.2% | -59.9% | -80.8% | -44.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.11 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.14 | -1.00 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -26.88 | -26.88 | -45.68 | -25.50 | — | — |
Net cash position: cash ($176M) exceeds total debt ($4M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 15.69 | 15.69 | 16.92 | 15.22 | 8.85 | 15.30 |
| Quick Ratio | 15.69 | 15.69 | 16.92 | 15.22 | 8.85 | 15.30 |
| Cash Ratio | 15.58 | 15.58 | 16.81 | 14.71 | 8.69 | 14.20 |
| Asset Turnover | — | — | — | — | — | 0.01 |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | 3029.50 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $29M | $25M | $27M | $26M | $26M |
Binary clinical trial outcomes
As reported in financial statements, ANRO trades at a price-to-book ratio of 5.16, a valuation level that suggests investors are pricing in the potential success of the proprietary biomarker platform rather than current fundamental earnings, which remain negative with a TTM P/E of -12.35.
The elevated P/B ratio relative to peers like SAVA indicates that the market assigns a significant 'platform premium' to the company's neurophysiological data assets. This valuation implies that the market expects the biomarker-driven patient stratification to yield superior clinical outcomes, effectively de-risking the pipeline compared to traditional CNS developers.
Based on EDBL's reported figures, the company's ROIC has fluctuated significantly, reaching -5.1% in 2025Q3, which highlights the inherent difficulty in generating positive returns on invested capital while the firm remains in a pre-commercial, R&D-intensive stage of its corporate lifecycle.
The volatility in ROIC, including a sharp -81.7% reading in 2024Q4, reflects the lumpy nature of R&D spending and the absence of revenue to offset capital deployment. Investors should monitor whether these returns stabilize as the company moves closer to potential commercialization, as current metrics are primarily a function of cash burn rather than operational efficiency.
According to recent SEC filings, ANRO maintains a current ratio of 20.52 as of 2026Q1, a figure that provides a substantial liquidity cushion to support ongoing clinical trial operations and mitigate the risks associated with the company's current lack of commercial revenue streams.
The exceptionally high current ratio is a direct result of recent equity-based capital raises, which have fortified the balance sheet against near-term operational volatility. This liquidity position appears adequate to fund the company through multiple Phase 2b data readouts, reducing the immediate necessity for dilutive financing in the current macro environment.
As indicated by historical data, the use of P/E ratios to evaluate ANRO is fundamentally flawed, as the company's lack of commercial revenue renders earnings-based multiples meaningless and obscures the true value of the underlying intellectual property and biomarker platform.
Analysts should instead focus on the 'Responder Enrichment Ratio' and the cash runway to assess the company's viability, as traditional valuation metrics fail to capture the binary nature of clinical trial success. Relying on P/E or EV/EBITDA in this context may lead to an incorrect assessment of the company's risk-adjusted value.
Includes 30+ ratios · 5 years · Updated daily
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Quick answers to the most common questions about buying ANRO stock.
Alto Neuroscience, Inc.'s current P/E ratio is -11.7x. This places it at the 50th percentile of its historical range.
Alto Neuroscience, Inc.'s return on equity (ROE) is -41.8%. The historical average is -97.9%.
Based on historical data, Alto Neuroscience, Inc. is trading at a P/E of -11.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.