Latest Ratios: P/E Ratio 7.8x · EV/EBITDA 18.2x · ROE 59.9%. (1998–2025 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 | $2.1B | $2.2B | $1.3B | $1.3B | $613M | $3.0B | $1.6B | $1.9B | $578M | $349M | $74M |
| Enterprise Value | $2.1B | $2.2B | $1.3B | $1.3B | $527M | $2.7B | $1.4B | $1.6B | $460M | $183M | $34M |
| P/E Ratio → | 7.84 | 7.71 | 228.50 | — | — | — | — | — | — | — | — |
| P/S Ratio | 7.37 | 7.82 | 5.58 | 7.34 | 4.57 | 64.88 | 32.69 | 5926.62 | 1248.84 | 829.94 | 428.32 |
| P/B Ratio | 3.87 | 3.81 | 3.48 | 3.41 | 1.51 | 6.18 | 4.02 | 6.31 | 5.14 | 2.10 | 2.06 |
| P/FCF | 15.40 | 16.34 | 29.76 | — | — | — | — | — | — | — | — |
| P/OCF | 15.38 | 16.31 | 29.58 | — | — | — | — | — | — | — | — |
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 | — | 7.80 | 5.57 | 7.61 | 3.93 | 59.98 | 27.43 | 4964.30 | 994.05 | 435.58 | 199.13 |
| EV / EBITDA | 18.22 | 19.33 | 88.68 | — | — | — | — | — | — | — | — |
| EV / EBIT | 19.83 | 18.63 | 106.55 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 16.30 | 29.67 | — | — | — | — | — | — | — | — |
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 | 88.5% | 88.5% | 88.0% | 91.9% | 95.8% | 97.6% | 100.0% | 100.0% | -8837.8% | 99.8% | 97.7% |
| Operating Margin | 37.1% | 37.1% | -2.0% | -52.2% | -83.2% | -396.3% | -208.1% | -28598.4% | -12129.2% | -11205.5% | -13187.3% |
| Net Profit Margin | 101.5% | 101.5% | 2.4% | -44.5% | -80.7% | -396.8% | -204.9% | -27794.0% | -13848.8% | -16855.2% | -13465.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 59.9% | 59.9% | 1.5% | -19.9% | -24.5% | -40.8% | -29.1% | -43.0% | -46.1% | -70.2% | -83.3% |
| ROA | 44.1% | 44.1% | 1.0% | -15.3% | -21.3% | -35.9% | -26.1% | -37.6% | -38.2% | -57.4% | -51.4% |
| ROIC | 16.6% | 16.6% | -0.9% | -18.4% | -29.1% | -67.8% | -114.7% | — | — | — | -325.7% |
| ROCE | 18.9% | 18.9% | -1.0% | -20.5% | -24.0% | -38.7% | -28.0% | -40.3% | -35.1% | -40.8% | -57.7% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.21 | 0.26 | 0.02 | 0.02 | 0.02 | — | — | — | — |
| Debt / EBITDA | 0.66 | 0.66 | 5.38 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.01 | -0.01 | 0.13 | -0.21 | -0.47 | -0.65 | -1.02 | -1.05 | -1.00 | -1.10 |
| Net Debt / EBITDA | -0.05 | -0.05 | -0.28 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.04 | -0.09 | — | — | — | — | — | — | — | — |
| Interest Coverage | 27.36 | 27.36 | 2.54 | -26.92 | — | — | — | — | — | — | — |
Net cash position: cash ($80M) exceeds total debt ($75M)
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 | 5.25 | 5.25 | 4.57 | 5.50 | 9.60 | 12.63 | 13.11 | 27.90 | 18.30 | 21.50 | 5.22 |
| Quick Ratio | 4.76 | 4.76 | 4.17 | 4.99 | 9.06 | 12.15 | 12.67 | 27.90 | 18.30 | 21.52 | 5.22 |
| Cash Ratio | 4.25 | 4.25 | 3.67 | 4.54 | 8.45 | 11.47 | 12.45 | 27.09 | 17.33 | 21.28 | 5.00 |
| Asset Turnover | — | 0.38 | 0.43 | 0.32 | 0.28 | 0.08 | 0.11 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory Turnover | 0.71 | 0.71 | 0.72 | 0.36 | 0.23 | 0.06 | — | — | — | — | — |
| Days Sales Outstanding | — | 53.45 | 56.73 | 50.10 | 36.72 | 123.37 | — | 422.39 | 171.07 | 94.73 | 181.45 |
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 | 12.8% | 13.0% | 0.4% | — | — | — | — | — | — | — | — |
| FCF Yield | 6.5% | 6.1% | 3.4% | — | — | — | — | — | — | — | — |
| Buyback Yield | 4.7% | 4.4% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 4.7% | 4.4% | 3.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $139M | $146M | $143M | $142M | $129M | $118M | $93M | $85M | $77M | $35M |
Single-product revenue concentration
Based on current market data, AUPH trades at a P/E of 8.32, which appears to discount future growth prospects significantly compared to peers like Corcept Therapeutics, suggesting investors remain skeptical of the long-term sustainability of the company's single-product revenue model in the competitive lupus nephritis market.
The low P/E multiple relative to the broader biotech sector suggests the market is pricing in a terminal value decline rather than sustained expansion. This valuation gap warrants further investigation into whether the current price reflects a genuine lack of growth or an undervaluation of the company's established commercial infrastructure.
As reported in financial statements, AUPH's ROIC has fluctuated between -5.1% and 6.1% over the last ten quarters, indicating that the company is only recently beginning to generate positive returns on its invested capital as it transitions from a high-burn R&D phase to commercial maturity.
The recent stabilization of ROIC above 5% suggests that management's decision to prune the pipeline and focus on Lupkynis is beginning to yield efficiency gains. However, investors should monitor whether these returns are sustainable or merely a byproduct of reduced capital expenditure following the termination of early-stage programs.
According to recent SEC filings, the company's cash conversion cycle remains elevated, peaking at 648 days in 2026Q1, which highlights significant inefficiencies in inventory management and the challenges of maintaining a lean supply chain for a specialized pharmaceutical product in a competitive reimbursement environment.
The exceptionally high DIO suggests that the company may be holding excessive inventory, which could lead to future write-downs if product demand does not align with current stocking levels. This inefficiency appears to be a structural drag on cash flow that contrasts with the company's otherwise improving operating margins.
Based on reported figures, AUPH maintains a current ratio of 5.55 as of 2026Q1, providing a substantial liquidity cushion that appears more than adequate to navigate the inherent volatility of specialty drug reimbursement cycles and potential lumpy milestone payments from its licensing partner, Otsuka Pharmaceutical.
This strong liquidity position suggests the company is well-insulated from short-term solvency risks, even if revenue growth decelerates. The high quick ratio further confirms that the company's liquidity is not overly dependent on the liquidation of its slow-moving inventory, which is a positive signal for financial stability.
As indicated by the provided financial data, the 101.47% net margin reported in 2025Q4 is a misleading metric that obscures the company's true operational earning power, as it likely incorporates non-recurring tax benefits or milestone payments rather than sustainable, recurring profitability from core product sales.
Analysts should prioritize operating margins and free cash flow over net income to avoid being misled by one-time accounting distortions. Relying on net margin for this business model fails to account for the lumpy nature of licensing revenue and the significant impact of non-cash items on the bottom line.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying AUPH stock.
Aurinia Pharmaceuticals Inc.'s current P/E ratio is 7.8x. The historical average is 7.7x. This places it at the 100th percentile of its historical range.
Aurinia Pharmaceuticals Inc.'s current EV/EBITDA is 18.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 54.0x.
Aurinia Pharmaceuticals Inc.'s return on equity (ROE) is 59.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -65.6%.
Based on historical data, Aurinia Pharmaceuticals Inc. is trading at a P/E of 7.8x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Aurinia Pharmaceuticals Inc. has 88.5% gross margin and 37.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Aurinia Pharmaceuticals Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.