Latest Ratios: P/E Ratio 6.3x · EV/EBITDA 4.4x · ROE 44.8%. (1999–2025 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 | $226M | $144M | $137M | $174M | $62M | $362M | $964M | $379M | $120M | $128M | $259M |
| Enterprise Value | $138M | $56M | $122M | $161M | $53M | $357M | $960M | $373M | $74M | $98M | $198M |
| P/E Ratio → | 6.29 | 4.03 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.11 | 1.97 | 4.92 | 5.19 | 8.26 | 60.35 | 481.92 | — | 6.74 | — | 364.28 |
| P/B Ratio | 2.18 | 1.40 | 2.49 | 2.65 | 0.80 | 3.39 | 8.05 | 9.90 | 3.22 | 4.37 | 4.08 |
| P/FCF | 7.21 | 4.58 | 2.77 | — | — | — | — | — | — | — | — |
| P/OCF | 7.14 | 4.54 | 2.76 | — | — | — | — | — | — | — | — |
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 | — | 0.77 | 4.37 | 4.81 | 7.04 | 59.50 | 479.94 | — | 4.17 | — | 277.86 |
| EV / EBITDA | 4.35 | 1.76 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 4.42 | 1.58 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 1.78 | 2.46 | — | — | — | — | — | — | — | — |
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 | 87.3% | 87.3% | 71.5% | 94.0% | 87.0% | 88.7% | 97.0% | — | 94.2% | — | 68.7% |
| Operating Margin | 43.1% | 43.1% | -53.4% | -38.8% | -471.7% | -584.6% | -1574.8% | — | -130.5% | — | -4576.3% |
| Net Profit Margin | 48.6% | 48.6% | -51.1% | -56.1% | -449.3% | -570.0% | -1484.9% | — | -127.0% | — | -4425.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 44.8% | 44.8% | -23.6% | -26.2% | -36.5% | -30.2% | -37.6% | -72.4% | -67.9% | -79.9% | -41.1% |
| ROA | 26.0% | 26.0% | -12.0% | -17.4% | -29.8% | -25.3% | -30.9% | -51.1% | -49.2% | -67.5% | -37.0% |
| ROIC | 85.9% | 85.9% | -24.1% | -16.0% | -31.2% | -24.2% | -32.0% | -183.3% | — | -6593.1% | -466.9% |
| ROCE | 27.3% | 27.3% | -15.7% | -14.7% | -35.9% | -28.9% | -36.0% | -64.1% | -61.3% | -75.6% | -41.0% |
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 | 0.03 | 0.03 | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.09 | — | — | — |
| Debt / EBITDA | 0.09 | 0.09 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.85 | -0.28 | -0.19 | -0.12 | -0.05 | -0.03 | -0.16 | -1.23 | -1.04 | -0.97 |
| Net Debt / EBITDA | -2.76 | -2.76 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -2.80 | -0.31 | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -284.56 | -314.61 | -1244.78 | -1367.12 | -706.10 | -875.84 | -37.46 | -72.94 | -46.22 |
Net cash position: cash ($91M) exceeds total debt ($3M)
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 | 6.56 | 6.56 | 5.26 | 4.36 | 7.23 | 7.21 | 12.27 | 6.60 | 4.66 | 5.03 | 13.22 |
| Quick Ratio | 6.56 | 6.56 | 5.26 | 4.36 | 7.23 | 7.21 | 12.27 | 6.60 | 4.80 | 5.31 | 13.66 |
| Cash Ratio | 6.45 | 6.45 | 5.12 | 1.93 | 6.99 | 6.85 | 11.76 | 6.43 | 4.57 | 4.91 | 12.98 |
| Asset Turnover | — | 0.46 | 0.24 | 0.28 | 0.08 | 0.05 | 0.01 | — | 0.33 | — | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 1.47 | 3.52 | 668.91 | 15.43 | 11.44 | 365.00 | — | 3.42 | — | 42.04 |
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 | 15.9% | 24.8% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 13.9% | 21.8% | 36.1% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $94M | $90M | $88M | $87M | $84M | $80M | $64M | $55M | $51M | $51M |
Binary clinical milestone dependence
Based on reported figures, Compugen's TTM P/E of 5.50 and EV/EBITDA of 3.46 appear artificially compressed by non-recurring milestone payments, which obscures the company's underlying status as a pre-commercial clinical-stage entity that typically warrants a pipeline-in-the-money valuation model rather than traditional earnings-based multiples.
Investors should exercise caution when applying standard valuation multiples to Compugen, as the current profitability is a transient artifact of accounting recognition rather than sustainable operational performance. The market's pricing likely reflects a significant discount for the binary nature of clinical outcomes, rendering P/E ratios largely irrelevant for assessing long-term intrinsic value.
According to recent financial statements, Compugen's ROIC has swung violently from -35.5% in 2023Q2 to 154.5% in 2025Q4, a volatility that highlights the company's inability to generate consistent compounding returns on invested capital while it remains in the high-risk, capital-intensive phase of drug discovery.
The dramatic improvement in ROIC is entirely attributable to the timing of partnership-related cash inflows rather than operational efficiency gains. This pattern suggests that capital allocation is currently secondary to the primary objective of clinical validation, and investors should monitor whether future R&D spending can eventually translate into sustainable, non-dilutive returns.
As reported in quarterly filings, Compugen's asset turnover ratio of 0.53 in 2025Q4 reflects a business model where revenue generation is decoupled from physical asset utilization, emphasizing the company's reliance on intellectual property licensing rather than traditional manufacturing or service-based operational cycles.
The lack of a meaningful cash conversion cycle indicates that the company's efficiency is dictated by the administrative timing of milestone payments from partners like Gilead. Consequently, traditional efficiency metrics provide little insight into the company's operational health, which is better measured by the progress of clinical trial milestones.
Based on an analysis of Compugen's business model, the P/E ratio is the most commonly misapplied metric, as it erroneously suggests a mature, profitable enterprise while completely obscuring the reality that the company's current earnings are non-recurring inflows that do not represent a sustainable operational run rate.
Analysts should instead prioritize cash burn rates and the probability-adjusted net present value of the clinical pipeline to assess the company's viability. Relying on P/E or EV/EBITDA in this context may lead to a dangerous underestimation of the capital required to reach commercialization, as these ratios fail to account for the ongoing, high-cost R&D obligations.
Includes 30+ ratios · 27 years · Updated daily
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Quick answers to the most common questions about buying CGEN stock.
Compugen Ltd.'s current P/E ratio is 6.3x. The historical average is 4.0x. This places it at the 100th percentile of its historical range.
Compugen Ltd.'s current EV/EBITDA is 4.4x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 1.8x.
Compugen Ltd.'s return on equity (ROE) is 44.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -37.9%.
Based on historical data, Compugen Ltd. is trading at a P/E of 6.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Compugen Ltd. has 87.3% gross margin and 43.1% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Compugen Ltd.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.