Latest Ratios: P/E Ratio -1.8x · EV/EBITDA N/A · ROE -127.0%. (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 | $491M | $224M | $112M | $929M | $271M | $98M | $289M | $76M | — | — |
| Enterprise Value | $435M | $168M | $-36062830 | $741M | $195M | $-24678770 | $187M | $-59802070 | — | — |
| P/E Ratio → | -1.84 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.75 | 2.00 | 0.74 | 3.94 | 2.60 | 0.83 | 2.64 | 0.55 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -127.0% | -127.0% | -59.6% | -39.7% | -47.6% | -40.7% | -26.9% | -26.6% | — | — |
| ROA | -95.9% | -95.9% | -52.8% | -36.5% | -43.5% | -38.4% | -26.0% | -19.3% | -71.4% | -25000.0% |
| ROIC | -429.6% | -429.6% | -361.3% | -147.3% | -341.4% | -1804.9% | -496.0% | -1202.3% | — | — |
| ROCE | -126.2% | -126.2% | -63.3% | -43.3% | -48.0% | -40.7% | -27.3% | -21.8% | -37.6% | — |
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 | 0.24 | 0.24 | 0.10 | 0.02 | 0.05 | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.50 | -0.97 | -0.80 | -0.73 | -1.04 | -0.93 | -0.98 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | -0.01 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -82.76 | -82.76 | -153.90 | — | — | — | — | — | — | — |
Net cash position: cash ($83M) exceeds total debt ($27M)
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 | 2.77 | 2.77 | 6.15 | 15.29 | 11.47 | 14.86 | 21.92 | 44.66 | 36.05 | 0.00 |
| Quick Ratio | 2.77 | 2.77 | 6.15 | 15.29 | 11.47 | 14.86 | 21.92 | 44.66 | 36.05 | 0.00 |
| Cash Ratio | 2.66 | 2.66 | 6.05 | 15.08 | 11.23 | 14.58 | 20.98 | 43.28 | 35.01 | 0.00 |
| 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 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 13.2% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 13.2% | — | — |
| Shares Outstanding | — | $102M | $49M | $41M | $29M | $26M | $23M | $5M | $15M | $24M |
Clinical trial funding shortfall
According to recent market data, CABA trades at a price-to-book ratio of 2.77, which, when compared to peers like Roivant Sciences, suggests that investors are pricing the firm primarily on its intellectual property and clinical potential rather than any near-term earnings or tangible asset value.
The absence of meaningful revenue or positive earnings renders traditional P/E or EV/EBITDA multiples irrelevant for assessing the company's current valuation. Investors appear to be assigning value based on the perceived probability of success for the CAAR-T and CABA-201 platforms, though this valuation remains highly sensitive to the company's ability to secure future funding without excessive dilution.
As reported in financial statements, the company's ROIC has fluctuated significantly, reaching a low of -105.1% in 2024Q3, which underscores the substantial capital intensity required to advance its specialized cell therapy pipeline without the benefit of commercial-scale revenue or operational efficiencies.
The persistent negative returns on invested capital reflect the high fixed costs associated with R&D and clinical trial infrastructure. This trend suggests that the company is currently in a value-destructive phase of its lifecycle, which is typical for pre-revenue biotech firms but warrants close monitoring as the firm approaches critical data readouts.
Based on the company's quarterly filings, the current ratio has deteriorated from 15.29 in 2023Q4 to 2.95 in 2026Q1, indicating that the firm's liquidity position is tightening as cash reserves are aggressively deployed to fund ongoing clinical development and research activities.
While a current ratio of 2.95 remains technically adequate, the rapid downward trajectory suggests that the company's runway is shortening significantly. Investors should monitor the cash burn rate relative to the timing of upcoming clinical milestones, as the current liquidity profile may necessitate a capital raise in the near term.
As detailed in industry research, the price-to-book ratio is frequently misapplied to clinical-stage biotech firms like CABA, as it fails to capture the value of intangible assets such as proprietary CAAR-T intellectual property and the potential future cash flows from successful clinical trial outcomes.
Using book value as a proxy for intrinsic value in this context obscures the reality that the company's most valuable assets are off-balance-sheet clinical data and research capabilities. Analysts should instead focus on cash runway and the probability-adjusted net present value of the pipeline to better assess the firm's true economic potential.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying CABA stock.
Cabaletta Bio, Inc.'s current P/E ratio is -1.8x. This places it at the 50th percentile of its historical range.
Cabaletta Bio, Inc.'s return on equity (ROE) is -127.0%. The historical average is -52.6%.
Based on historical data, Cabaletta Bio, Inc. is trading at a P/E of -1.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.