Latest Ratios: P/E Ratio -1.2x · EV/EBITDA N/A · ROE -152.4%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $83M | $65M | $140M | $495M | $247M | $178M | — | — |
| Enterprise Value | $29M | $11M | $91M | $329M | $137M | $35M | — | — |
| P/E Ratio → | -1.19 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.47 | 2.19 | 2.72 | 2.93 | 2.27 | 0.99 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -152.4% | -152.4% | -125.4% | -84.4% | -57.0% | -45.2% | -206.8% | — |
| ROA | -89.2% | -89.2% | -98.9% | -71.2% | -52.0% | -33.5% | -17.0% | -452.1% |
| ROIC | — | — | -4566.9% | -11884.6% | -360.3% | — | — | — |
| ROCE | -153.8% | -153.8% | -122.4% | -87.8% | -57.4% | -34.4% | -17.5% | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.17 | 0.06 | 0.02 | 0.02 | 0.05 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.83 | -0.96 | -0.98 | -1.01 | -0.80 | -11.89 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — |
Net cash position: cash ($56M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.23 | 5.23 | 3.15 | 7.84 | 6.17 | 38.08 | 38.43 | 0.93 |
| Quick Ratio | 5.23 | 5.23 | 3.15 | 7.84 | 6.17 | 38.08 | 38.43 | 0.93 |
| Cash Ratio | 5.03 | 5.03 | 2.69 | 7.74 | 5.92 | 37.42 | 38.11 | 0.84 |
| Asset Turnover | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| 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 | — | $52M | $36M | $34M | $29M | $24M | $11M | $11M |
Clinical trial funding dependency
Based on reported figures, BMEA's price-to-book ratio of 2.33 reflects a market valuation detached from traditional earnings metrics, as the company remains pre-revenue and heavily reliant on the speculative success of its covalent small-molecule pipeline rather than tangible book value or historical cash flow generation.
The absence of P/E or EV/EBITDA multiples underscores that investors are pricing the company purely on the probability-weighted success of its clinical assets. This valuation approach appears to ignore the significant dilution risk inherent in the company's current capital structure, which may be necessary to bridge the gap to potential commercialization.
As reported in financial statements, BMEA's ROIC has trended downward from -3.7% in 2023Q4 to -15.6% in 2025Q1, illustrating the company's struggle to generate productive returns on invested capital while simultaneously scaling its intensive research and development efforts across multiple clinical programs.
The persistent negative ROIC suggests that the capital deployed into the FUSION platform is currently consuming value rather than compounding it. This trend warrants further investigation into whether the company's dual-track development strategy is diluting the efficiency of its R&D spend compared to more focused oncology peers.
According to recent SEC filings, the company's current ratio has fluctuated significantly, dropping from a peak of 7.84 in 2023Q4 to 4.98 in 2026Q1, which highlights the accelerating depletion of liquid assets as the firm funds its ongoing clinical trial activities without offsetting revenue.
While the current ratio remains nominally high, the rapid erosion of the cash base suggests that the company's liquidity position is increasingly vulnerable to clinical trial delays or unexpected regulatory hurdles. Investors should monitor the cash runway closely, as the current burn rate may necessitate a capital raise sooner than the market anticipates.
Based on industry standards, the price-to-book ratio is the most commonly misapplied metric for BMEA, as it fails to account for the intangible value of the FUSION platform and the binary nature of clinical trial outcomes that define the company's true economic potential.
Using book value to assess a pre-revenue biotech firm obscures the reality that the company's assets are primarily intellectual property rather than physical capital. Analysts should instead focus on the implied enterprise value per clinical program, as this provides a more accurate reflection of the market's assessment of the company's pipeline viability.
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Quick answers to the most common questions about buying BMEA stock.
Biomea Fusion, Inc.'s current P/E ratio is -1.2x. This places it at the 50th percentile of its historical range.
Biomea Fusion, Inc.'s return on equity (ROE) is -152.4%. The historical average is -111.9%.
Based on historical data, Biomea Fusion, Inc. is trading at a P/E of -1.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.