Latest Ratios: P/E Ratio -5.0x · EV/EBITDA 14.1x · ROE -28.3%. (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 | $152M | $58M | $6M | $5M | $16M | $6M | $3M | $6M | $15M | $34M | $74M |
| Enterprise Value | $181M | $87M | $-4789295 | $-28698122 | $18M | $45M | $71M | $322M | $471M | $532M | $615M |
| P/E Ratio → | -4.96 | — | — | — | 0.14 | — | — | — | 0.42 | — | — |
| P/S Ratio | 1.28 | 0.49 | 0.04 | 0.03 | 0.10 | 0.06 | 0.02 | 0.03 | 0.05 | 0.09 | 0.16 |
| P/B Ratio | 1.60 | 0.62 | 0.05 | 0.04 | 0.07 | 0.06 | 0.05 | 0.10 | 0.07 | 0.20 | 0.29 |
| P/FCF | — | — | 0.21 | 0.10 | 0.20 | 1.15 | — | 0.07 | 0.23 | 0.55 | 1.18 |
| P/OCF | — | — | 0.21 | 0.10 | 0.20 | 1.14 | — | 0.07 | 0.21 | 0.54 | 1.12 |
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 | — | 0.73 | -0.04 | -0.19 | 0.11 | 0.41 | 0.66 | 1.40 | 1.51 | 1.40 | 1.35 |
| EV / EBITDA | 14.14 | 6.80 | -3.54 | — | 0.24 | 1.18 | — | — | 3.14 | 8.41 | 4.59 |
| EV / EBIT | — | — | — | -1.15 | 0.31 | 4.69 | — | — | 4.40 | — | 32.00 |
| EV / FCF | — | — | -0.18 | -0.59 | 0.22 | 8.29 | — | 3.62 | 7.03 | 8.65 | 9.82 |
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 | 44.9% | 44.9% | 68.6% | 82.2% | 88.0% | 85.7% | 85.4% | 95.9% | 94.1% | 80.9% | 80.8% |
| Operating Margin | -14.5% | -14.5% | -19.6% | -160.1% | 25.2% | 8.5% | -76.0% | -84.7% | 14.0% | -11.1% | 5.4% |
| Net Profit Margin | -25.6% | -25.6% | -17.3% | -218.3% | 70.2% | -1.2% | -26.0% | -94.6% | 11.8% | -26.9% | -19.5% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -28.3% | -28.3% | -16.7% | -182.5% | 66.8% | -1.6% | -49.6% | -156.1% | 18.9% | -48.8% | -31.4% |
| ROA | -11.0% | -11.0% | -7.6% | -94.8% | 29.6% | -0.4% | -6.8% | -29.8% | 3.7% | -9.1% | -6.9% |
| ROIC | -11.1% | -11.1% | -17.1% | -110.1% | 16.0% | 5.3% | -24.7% | -27.8% | 4.9% | -4.3% | 2.2% |
| ROCE | -11.1% | -11.1% | -13.5% | -95.2% | 15.4% | 5.2% | -32.0% | -33.8% | 5.4% | -4.6% | 2.3% |
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 | 0.42 | 0.42 | 0.33 | 0.29 | 0.30 | 0.74 | 1.61 | 6.18 | 2.57 | 3.70 | 2.87 |
| Debt / EBITDA | 3.06 | 3.06 | 29.76 | — | 0.92 | 1.97 | — | — | 3.77 | 9.90 | 5.37 |
| Net Debt / Equity | — | 0.31 | -0.09 | -0.24 | 0.01 | 0.38 | 1.24 | 5.45 | 2.07 | 2.94 | 2.16 |
| Net Debt / EBITDA | 2.26 | 2.26 | -7.63 | — | 0.03 | 1.01 | — | — | 3.03 | 7.87 | 4.04 |
| Debt / FCF | — | — | -0.39 | -0.69 | 0.02 | 7.14 | — | 3.55 | 6.79 | 8.11 | 8.64 |
| Interest Coverage | -5.60 | -5.60 | -6.81 | 7.38 | 7.13 | 0.95 | -2.68 | -0.09 | 1.55 | -0.41 | 0.23 |
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 | 1.70 | 1.70 | 1.77 | 1.83 | 1.39 | 0.77 | 0.71 | 0.56 | 1.73 | 1.03 | 1.39 |
| Quick Ratio | 1.51 | 1.51 | 1.43 | 1.43 | 1.24 | 0.71 | 0.62 | 0.54 | 1.70 | 0.97 | 1.33 |
| Cash Ratio | 0.50 | 0.50 | 0.87 | 0.79 | 0.68 | 0.27 | 0.16 | 0.23 | 0.89 | 0.57 | 0.80 |
| Asset Turnover | — | 0.44 | 0.44 | 0.53 | 0.38 | 0.34 | 0.36 | 0.44 | 0.33 | 0.37 | 0.37 |
| Inventory Turnover | 2.71 | 2.71 | 1.02 | 0.72 | 1.37 | 2.11 | 1.35 | 2.79 | 5.44 | 5.57 | 6.71 |
| Days Sales Outstanding | — | 369.30 | 158.08 | 114.40 | 105.96 | 143.85 | 149.78 | 67.97 | 43.56 | 69.49 | 82.13 |
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 | — | — | — | — | 708.1% | — | — | — | 238.9% | — | — |
| FCF Yield | — | — | 477.3% | 966.6% | 499.8% | 87.2% | — | 1510.2% | 433.5% | 182.8% | 85.1% |
| Buyback Yield | 0.0% | 0.0% | 6.3% | 100.0% | 5.3% | 6.7% | 34.4% | 9.7% | 4.4% | 2.2% | 4.5% |
| Total Shareholder Yield | 0.0% | 0.0% | 6.3% | 100.0% | 5.3% | 6.7% | 34.4% | 9.7% | 4.4% | 2.2% | 4.5% |
| Shares Outstanding | — | $6M | $6M | $5M | $4M | $3M | $2M | $1M | $1M | $1M | $1M |
Liquidity and solvency pressure
According to recent market data, Assertio's EV/EBITDA multiple of 14.14x appears disconnected from its negative operating margins, suggesting that the market is pricing the firm as a distressed asset rather than a growth-oriented specialty pharmaceutical entity, despite the potential for future margin recovery in forward-looking estimates.
The current valuation multiples are difficult to reconcile with the company's contracting revenue base and persistent operating losses. Investors should monitor whether the forward EV/EBITDA of 6.35x is a realistic expectation or merely a reflection of overly optimistic assumptions regarding the integration of recent acquisitions.
Based on reported figures, Assertio's ROIC has trended into negative territory, reaching -13.5% in 2026Q1, which indicates that the company is currently destroying shareholder value rather than compounding it, a stark reversal from the brief period of positive returns observed in the third quarter of 2025.
The inability to maintain positive returns on invested capital suggests that the company's asset-heavy acquisition strategy is failing to generate sufficient incremental returns. This trend warrants further investigation into whether the current portfolio of legacy assets can ever achieve the scale necessary to cover the associated cost of capital.
As reported in financial statements, the company's cash conversion cycle has ballooned to 992 days in 2026Q1, a significant increase from historical norms, which suggests that Assertio is struggling to convert its inventory and receivables into cash effectively within the current competitive specialty pharmaceutical landscape.
The extreme length of the cash conversion cycle appears to be driven by bloated inventory levels and extended collection periods, which may indicate that the company's products are losing their market relevance. This inefficiency places additional strain on the firm's already limited liquidity position.
According to the latest balance sheet filings, the current ratio of 1.82x masks a precarious cash position, as the company's reliance on inventory and receivables to meet short-term obligations leaves it vulnerable to any further deterioration in product demand or unexpected delays in the collection of accounts receivable.
While the current ratio appears adequate on the surface, the underlying quality of these assets is questionable given the recent revenue contraction. Investors should monitor the company's ability to maintain sufficient liquidity to fund operations without resorting to dilutive financing in the near term.
Data from the income statement suggests that the P/E ratio is a fundamentally flawed metric for evaluating Assertio, as the company's heavy non-cash amortization charges and restructuring costs render GAAP earnings meaningless for assessing the underlying cash-generating capacity of the business model.
Analysts should instead focus on adjusted EBITDA or free cash flow metrics to better understand the firm's operational reality. Relying on P/E multiples in this context obscures the true extent of the company's cash burn and the structural challenges facing its legacy product portfolio.
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Quick answers to the most common questions about buying ASRT stock.
Assertio Holdings, Inc.'s current P/E ratio is -5.0x. The historical average is 1.2x.
Assertio Holdings, Inc.'s current EV/EBITDA is 14.1x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 5.7x.
Assertio Holdings, Inc.'s return on equity (ROE) is -28.3%. The historical average is -59.4%.
Based on historical data, Assertio Holdings, Inc. is trading at a P/E of -5.0x. Compare with industry peers and growth rates for a complete picture.
Assertio Holdings, Inc. has 44.9% gross margin and -14.5% operating margin.
Assertio Holdings, Inc.'s Debt/EBITDA ratio is 3.1x, indicating high leverage. A ratio between 2-4x is manageable but warrants monitoring.