Latest Ratios: P/E Ratio 5.3x · EV/EBITDA 5.6x · ROE 22.9%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $119M | $140M | $118M | $124M | $65M | $193M | $1.1B | — | — | — |
| Enterprise Value | $113M | $134M | $104M | $93M | $59M | $156M | $1.0B | — | — | — |
| P/E Ratio → | 5.33 | 6.23 | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.70 | 2.00 | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.07 | 1.25 | 1.41 | 1.06 | 0.56 | 0.98 | 3.43 | — | — | — |
| P/FCF | 4.02 | 4.72 | — | — | — | — | — | — | — | — |
| P/OCF | 4.02 | 4.72 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.91 | — | — | — | — | — | — | — | — |
| EV / EBITDA | 5.61 | 6.63 | — | — | — | — | — | — | — | — |
| EV / EBIT | 5.70 | 6.74 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 4.52 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 99.5% | 99.5% | — | — | — | — | — | — | — | — |
| Operating Margin | 28.4% | 28.4% | — | — | — | — | — | — | — | — |
| Net Profit Margin | 32.0% | 32.0% | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 22.9% | 22.9% | -69.7% | -70.9% | -58.5% | -49.9% | -51.6% | — | — | — |
| ROA | 16.8% | 16.8% | -49.6% | -52.4% | -45.1% | -43.5% | -27.6% | -33.6% | -29.8% | -57.4% |
| ROIC | 17.0% | 17.0% | -76.3% | -66.4% | -51.9% | -43.2% | -130.3% | — | — | — |
| ROCE | 17.3% | 17.3% | -65.4% | -61.8% | -50.9% | -47.0% | -29.7% | -8.8% | -32.4% | -71.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.27 | 0.22 | 0.24 | 0.15 | 0.03 | — | — | — |
| Debt / EBITDA | 0.75 | 0.75 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.05 | -0.17 | -0.26 | -0.05 | -0.19 | -0.08 | — | — | — |
| Net Debt / EBITDA | -0.29 | -0.29 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -0.20 | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -67254.00 | — | — | -63.37 |
Net cash position: cash ($21M) exceeds total debt ($15M)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.42 | 8.42 | 4.92 | 6.82 | 8.37 | 9.12 | 22.48 | 32.02 | 20.07 | 3.55 |
| Quick Ratio | 8.42 | 8.42 | 4.92 | 6.82 | 8.37 | 9.12 | 22.48 | 32.02 | 20.07 | 3.55 |
| Cash Ratio | 8.18 | 8.18 | 4.79 | 6.69 | 8.05 | 8.87 | 22.16 | 31.80 | 20.06 | 3.53 |
| Asset Turnover | — | 0.49 | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 18.8% | 16.0% | — | — | — | — | — | — | — | — |
| FCF Yield | 24.8% | 21.2% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $58M | $55M | $44M | $36M | $36M | $33M | $36M | $14M | $7M |
Imminent liquidity and dilution
According to current market data, BDTX trades at a P/S of 1.40 and an EV/EBITDA of 4.56, yet these figures are heavily skewed by non-recurring milestone revenue, rendering traditional valuation metrics largely irrelevant for assessing the company's long-term intrinsic value or its true growth potential.
The low P/S ratio appears to reflect investor skepticism regarding the sustainability of the company's revenue model rather than a genuine undervaluation of the MAP platform. Investors should monitor the forward EV/EBITDA of 15.03, which suggests that the market anticipates a significant contraction in earnings as the one-time milestone benefits fade and R&D costs continue to escalate.
Based on reported financial figures, BDTX's ROIC has fluctuated wildly, peaking at 61.2% in 2025Q1 before reverting to negative territory, which underscores the company's inability to generate consistent returns on invested capital while it remains in a pre-commercial, high-burn clinical development phase.
The extreme volatility in ROE and ROIC highlights that these metrics are currently driven by sporadic partnership inflows rather than operational efficiency. Until the company can demonstrate a repeatable path to commercialization, these returns on capital will likely remain negative, reflecting the ongoing destruction of shareholder value inherent in the current R&D-heavy business model.
As reported in recent quarterly filings, the current ratio has declined from a peak of 9.24 in 2025Q1 to 8.46 in 2026Q1, signaling that while the company maintains a high current ratio, the absolute cash balance is rapidly depleting, leaving little room for operational error.
The high current ratio is somewhat misleading, as it reflects the absence of significant short-term liabilities rather than a robust cash position. Given the persistent negative free cash flow, the current liquidity profile appears insufficient to support the company's long-term clinical roadmap without an imminent capital raise.
The P/E ratio is the most commonly misapplied metric for BDTX, as it suggests a level of profitability that is entirely non-recurring and fails to account for the massive, ongoing R&D expenditures required to advance the company's proprietary allosteric oncology platform toward potential commercialization.
Using P/E to evaluate a clinical-stage biotech ignores the fundamental reality that earnings are currently a byproduct of accounting milestones rather than operational success. Analysts should instead focus on the cash burn rate and the implied runway, as these metrics provide a more accurate assessment of the company's survival risk and the likelihood of future shareholder dilution.
Includes 30+ ratios · 9 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BDTX stock.
Black Diamond Therapeutics, Inc.'s current P/E ratio is 5.3x. The historical average is 6.2x.
Black Diamond Therapeutics, Inc.'s current EV/EBITDA is 5.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.6x.
Black Diamond Therapeutics, Inc.'s return on equity (ROE) is 22.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -46.3%.
Based on historical data, Black Diamond Therapeutics, Inc. is trading at a P/E of 5.3x. Compare with industry peers and growth rates for a complete picture.
Black Diamond Therapeutics, Inc. has 99.5% gross margin and 28.4% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Black Diamond Therapeutics, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.