Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -695.2%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $1M | $5M | $9M | $25M | $86M | $281M | — |
| Enterprise Value | $-1975890 | $2M | $7M | $31M | $92M | $284M | — |
| P/E Ratio → | -0.02 | — | — | — | — | 83.14 | — |
| P/S Ratio | — | — | — | — | 1914.43 | 625.63 | — |
| P/B Ratio | 0.16 | 1.34 | 4.66 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | 2039.23 | 632.41 | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | -508.9% | 79.1% | — |
| Operating Margin | — | — | — | — | -51395.6% | -2334.5% | — |
| Net Profit Margin | — | — | — | — | -56504.4% | -2435.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -695.2% | -695.2% | -1125.2% | — | — | — | — |
| ROA | -172.8% | -172.8% | -183.0% | -463.2% | -849.3% | -417.1% | -428.6% |
| ROIC | -22323.5% | -22323.5% | — | — | — | — | — |
| ROCE | -421.3% | -421.3% | -973.7% | — | — | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.68 | 0.68 | 3.58 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.81 | -1.30 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -95.85 | -95.85 | -22.79 | -6.79 | -159.86 | -15.64 | -41.55 |
Net cash position: cash ($6M) 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 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 1.59 | 1.59 | 1.08 | 0.42 | 0.02 | 0.11 | 0.06 |
| Quick Ratio | 1.59 | 1.59 | 1.08 | 0.42 | 0.02 | 0.11 | 0.06 |
| Cash Ratio | 1.42 | 1.42 | 1.01 | 0.20 | 0.01 | 0.08 | 0.05 |
| Asset Turnover | — | — | — | — | 0.02 | 0.13 | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | 18.2% | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | 1.2% | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 18.2% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $4M | $664415 | $140162 | $70591 | $238625 | $3M |
Imminent liquidity and dilution
Based on reported financial data, CLDI trades at a price-to-book ratio of 0.19, a figure that suggests the market is heavily discounting the company's intangible assets and future clinical potential due to the persistent uncertainty surrounding its ability to reach commercialization without significant further equity dilution.
The extremely low P/B ratio relative to broader biotech peers indicates that investors are pricing in a high probability of insolvency or severe value destruction. This valuation does not imply a bargain, but rather a market consensus that the company's current intellectual property and clinical pipeline are insufficient to justify a higher premium until tangible data readouts occur.
As reported in financial statements, CLDI's ROIC has fluctuated significantly, reaching negative 10.2% in recent periods, which highlights the company's ongoing struggle to generate any productive return on the capital invested into its proprietary cell-based delivery platforms while remaining in a pre-revenue clinical development phase.
The persistent negative ROIC is a structural reality for a firm that has yet to commercialize its technology, as every dollar of invested capital is currently being consumed by R&D rather than deployed into revenue-generating assets. This trend suggests that until the company can demonstrate clinical efficacy, the return on capital will remain deeply negative and dependent on external funding.
According to recent SEC filings, the company's current ratio has shown extreme volatility, dropping as low as 0.12 in previous quarters, which underscores a precarious liquidity position that leaves little room for error in managing the high cash burn associated with its ongoing clinical trial manufacturing requirements.
The current ratio of 1.92 in 2026Q1, while improved from historical lows, remains insufficient given the company's lack of recurring revenue and the high fixed costs of its clinical programs. Investors should monitor this metric closely, as any further decline in liquidity would likely necessitate immediate, dilutive financing to maintain the company's status as a going concern.
The price-to-book ratio is frequently misapplied to CLDI, as it obscures the fact that the company's primary value resides in its proprietary cell-loading technology rather than its tangible assets, which have been declining as the firm shifts its focus toward clinical execution rather than physical infrastructure investment.
Using P/B to value this business model is misleading because it ignores the potential upside of the NeuroNova and SuperNova platforms, which are not captured on the balance sheet. A more appropriate analytical framework would involve a probability-weighted net present value of future clinical milestones, rather than relying on accounting-based book value metrics that fail to reflect the company's true technological potential.
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Quick answers to the most common questions about buying CLDI stock.
Calidi Biotherapeutics, Inc.'s current P/E ratio is -0.0x. The historical average is 83.1x.
Calidi Biotherapeutics, Inc.'s return on equity (ROE) is -695.2%.
Based on historical data, Calidi Biotherapeutics, Inc. is trading at a P/E of -0.0x. Compare with industry peers and growth rates for a complete picture.