Latest Ratios: P/E Ratio -1.1x · EV/EBITDA N/A · ROE -987.3%. (2006–2025 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 | $23M | $81M | $61M | $48M | $40M | $24M | — | — | — | — | — |
| Enterprise Value | $18M | $77M | $59M | $32M | $36M | $11M | — | — | — | — | — |
| P/E Ratio → | -1.06 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 8.53 | 31.08 | 37.05 | 3.00 | 16.79 | 1.79 | — | — | — | — | — |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | 62.7% | 60.1% | 62.1% |
| Operating Margin | — | — | — | — | — | — | — | — | 21.0% | 13.0% | 17.2% |
| Net Profit Margin | — | — | — | — | — | — | — | — | 10.7% | -5.6% | 25.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -987.3% | -987.3% | -221.1% | -159.9% | -164.2% | -102.7% | — | -0.3% | 15.3% | -8.2% | 49.7% |
| ROA | -460.9% | -460.9% | -190.6% | -138.3% | -143.7% | -63.0% | -3682.8% | -0.2% | 7.7% | -4.4% | 33.1% |
| ROIC | — | — | — | — | — | — | — | -0.1% | 15.0% | 10.1% | 24.3% |
| ROCE | -993.1% | -993.1% | -226.1% | -167.3% | -165.1% | -53.0% | — | -0.1% | 16.6% | 11.7% | 26.8% |
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 | — | — | — | — | — | — | — | — | 0.64 | 0.80 | 0.18 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 1.60 | 3.02 | 0.50 |
| Net Debt / Equity | — | -1.68 | -1.44 | -1.02 | -1.51 | -0.98 | — | — | 0.38 | 0.65 | 0.02 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 0.95 | 2.48 | 0.04 |
| Debt / FCF | — | — | — | — | — | — | — | — | 2.45 | 16.20 | 0.08 |
| Interest Coverage | — | — | — | — | -196.39 | -1.06 | -2.81 | -1.21 | 5.40 | -1.12 | — |
Net cash position: cash ($4M) exceeds total debt ($0)
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 | 1.45 | 1.45 | 1.71 | 14.09 | 2.43 | 23.81 | 0.01 | 0.02 | 2.96 | 1.77 | 1.89 |
| Quick Ratio | 1.41 | 1.41 | 1.71 | 14.09 | 2.43 | 23.81 | 0.01 | 0.02 | 2.81 | 1.66 | 1.73 |
| Cash Ratio | 1.35 | 1.35 | 1.47 | 13.56 | 2.16 | 22.44 | 0.00 | 0.01 | 1.63 | 0.71 | 0.73 |
| Asset Turnover | — | — | — | — | — | — | — | — | 0.68 | 0.55 | 1.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | 20.34 | 21.46 | 15.24 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | 48.09 | 48.98 | 47.05 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — | — | — | — |
| Shares Outstanding | — | $34M | $27M | $20M | $8M | $8M | $8M | $8M | $36M | $30M | $30M |
Binary Regulatory Approval Risk
According to current market data, HeartBeam's P/B ratio of 8.75 reflects a significant premium over book value, which appears to be driven by speculative expectations for future FDA clearance rather than any underlying earnings power or tangible asset base currently present in the company's financial statements.
The lack of meaningful revenue renders traditional P/E or EV/EBITDA multiples inapplicable, forcing investors to rely on price-to-book metrics that may be highly volatile. This valuation suggests that the market is pricing in a successful transition to commercialization, yet the high multiple warrants caution given the company's history of dilutive capital raises.
As reported in financial statements, HeartBeam's ROIC has consistently remained in negative territory, reaching -185.9% in 2025Q2, which underscores the company's current inability to generate productive returns on invested capital while it remains in a pre-revenue, R&D-heavy phase of its corporate lifecycle.
The persistent decay in return metrics is a structural byproduct of high fixed costs and the absence of commercial revenue. Investors should monitor whether future capital deployments can shift these returns toward positive territory once the company moves beyond its current clinical and regulatory development hurdles.
Based on recent quarterly data, HeartBeam's current ratio has deteriorated sharply from 14.09 in 2023Q4 to 0.74 in 2026Q1, indicating that the company's liquid assets are no longer sufficient to cover its short-term obligations as it approaches a potential commercial launch phase.
This rapid decline in liquidity suggests that the company is exhausting its financial runway, leaving little room for operational errors or regulatory delays. The current ratio below unity implies that the firm may face significant pressure to secure additional financing in the near term to maintain its ongoing operations.
As indicated by the company's pre-revenue status, the use of P/S multiples is fundamentally misapplied to HeartBeam, as it obscures the reality that the firm currently lacks a commercialized product and relies entirely on external capital to fund its ongoing clinical and regulatory development activities.
Analysts should instead focus on cash-burn-to-runway ratios or the progress of regulatory milestones, as these metrics provide a more accurate assessment of the company's viability. Relying on revenue-based valuation models at this stage may lead to an overestimation of the company's current market position and its ability to sustain operations.
Includes 30+ ratios · 20 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BEAT stock.
HeartBeam, Inc.'s current P/E ratio is -1.1x. This places it at the 50th percentile of its historical range.
HeartBeam, Inc.'s return on equity (ROE) is -987.3%. The historical average is -43.3%.
Based on historical data, HeartBeam, Inc. is trading at a P/E of -1.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.