Latest Ratios: P/E Ratio -2.8x · EV/EBITDA N/A · ROE -56.5%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $234M | $105M | $246M | — | — | — | — |
| Enterprise Value | $219M | $89M | $220M | — | — | — | — |
| P/E Ratio → | -2.76 | — | — | — | — | — | — |
| P/S Ratio | — | — | 978.41 | — | — | — | — |
| P/B Ratio | 2.11 | 0.95 | 1.32 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | 875.30 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating Margin | — | — | -26805.6% | -91.6% | -1213.3% | -2660.9% | — |
| Net Profit Margin | — | — | -23304.0% | -82.7% | -1184.1% | -3587.7% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -56.5% | -56.5% | -475.1% | — | — | — | — |
| ROA | -49.3% | -49.3% | -37.2% | -23.3% | -38.5% | -72.1% | -61.5% |
| ROIC | -53.3% | -53.3% | — | — | — | — | — |
| ROCE | -57.5% | -57.5% | -46.4% | -30.6% | -46.4% | -61.2% | -77.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.10 | 0.10 | 0.08 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.14 | -0.14 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -88.42 |
Net cash position: cash ($27M) exceeds total debt ($11M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 8.61 | 8.61 | 15.39 | 6.53 | 4.08 | 8.41 | 4.53 |
| Quick Ratio | 8.61 | 8.61 | 15.39 | 6.53 | 4.08 | 8.41 | 4.53 |
| Cash Ratio | 8.25 | 8.25 | 15.13 | 6.30 | 4.00 | 8.34 | 4.41 |
| Asset Turnover | — | — | 0.00 | 0.32 | 0.04 | 0.01 | — |
| Inventory Turnover | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 212.31 | 19.16 | 38.86 | 85.32 | — |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 1.7% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 1.7% | — | — | — | — |
| Shares Outstanding | — | $24M | $24M | $23M | $18M | $18M | $18M |
Clinical trial funding dependency
As reported in financial statements, Artiva's P/B ratio of 2.14 reflects a market valuation heavily contingent on future clinical milestones rather than current assets, placing it at a distinct discount compared to peers like Nektar Therapeutics, which trade at significantly higher multiples despite similar operational profiles.
The current valuation appears to be driven by the market's assessment of the AB-101 pipeline rather than tangible book value. Investors should monitor whether this discount persists as clinical data readouts approach, as the lack of revenue makes traditional P/E or EV/EBITDA metrics effectively meaningless for assessing the firm's intrinsic worth.
Based on the provided quarterly data, Artiva's ROIC has deteriorated from -8.5% in 2024Q4 to -21.4% by 2026Q1, illustrating the company's inability to generate positive returns on invested capital while it continues to aggressively deploy funds into its early-stage clinical development programs.
The consistent decline in ROIC is a direct consequence of the company's high-burn R&D model, which prioritizes long-term therapeutic potential over immediate capital efficiency. This trend suggests that until the company achieves a successful commercialization milestone, returns on capital will likely remain deeply negative and highly sensitive to the pace of clinical spending.
According to recent SEC filings, the company's current ratio has fluctuated significantly, dropping from 15.39 in 2024Q4 to 8.16 in 2026Q1, which highlights a narrowing liquidity cushion as the firm exhausts its cash reserves to sustain its intensive research and development activities.
While the current ratio remains high relative to non-biotech sectors, the rapid downward trend indicates that the company is consuming its liquid assets at an unsustainable rate. Investors should be wary of the potential for future dilutive equity raises, as the current liquidity position may not be sufficient to support the full duration of the ongoing clinical trials.
As indicated by the company's financial disclosures, the asset turnover ratio is fundamentally misapplied to Artiva, as the firm's primary assets are intangible clinical programs rather than revenue-generating inventory, rendering standard efficiency metrics ineffective for evaluating its operational performance in the current pre-revenue stage.
Analysts often mistakenly use asset turnover to gauge operational efficiency, but for a clinical-stage biotech, this metric obscures the reality that capital is being deployed into R&D rather than sales. A more appropriate focus would be the 'cash burn per clinical milestone' or 'R&D efficiency per patient enrolled,' which better capture the true operational progress of the business.
Includes 30+ ratios · 6 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ARTV stock.
Artiva Biotherapeutics, Inc.'s current P/E ratio is -2.8x. This places it at the 50th percentile of its historical range.
Artiva Biotherapeutics, Inc.'s return on equity (ROE) is -56.5%. The historical average is -265.8%.
Based on historical data, Artiva Biotherapeutics, Inc. is trading at a P/E of -2.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.