Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE N/A. (2012–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2M | $70M | $72M | $67M | $165M | $127M | $111M | $33M | $177M | $117M | — |
| Enterprise Value | $35M | $103M | $86M | $54M | $135M | $112M | $95M | $35M | $176M | $90M | — |
| P/E Ratio → | -0.06 | — | — | — | 436.51 | — | — | — | — | — | — |
| P/S Ratio | 1.29 | 42.14 | 8.79 | 50.81 | 5.57 | 16.14 | 50.94 | 1096.17 | 513.57 | 225.41 | — |
| P/B Ratio | — | — | — | 6.36 | 4.34 | 14.54 | 9.92 | 1.39 | 8.27 | 1.64 | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 61.64 | 10.50 | 40.90 | 4.56 | 14.20 | 43.49 | 1160.57 | 510.05 | 173.03 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | 359.00 | — | — | — | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 91.0% | 91.0% | 95.7% | 84.6% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — |
| Operating Margin | -1735.7% | -1735.7% | -302.0% | -2281.6% | -2.1% | -227.2% | -1394.6% | -276483.3% | -16929.9% | -4845.8% | — |
| Net Profit Margin | -2064.4% | -2064.4% | -394.9% | -2482.8% | 1.3% | -230.7% | -1416.0% | -276060.0% | -17094.2% | -4977.3% | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | -135.6% | 1.6% | -182.8% | -177.0% | -367.8% | -126.7% | -147.9% | — |
| ROA | -116.2% | -116.2% | -76.1% | -69.9% | 1.2% | -79.0% | -86.8% | -195.8% | -94.1% | -48.9% | -112.5% |
| ROIC | — | — | — | -801.7% | -56.3% | — | -221.5% | -271.9% | -135.6% | -42.5% | — |
| ROCE | -121.5% | -121.5% | -68.3% | -72.3% | -2.6% | -142.0% | -122.4% | -273.7% | -109.8% | -52.9% | -145.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 3.32 | 0.02 | 0.23 | 0.57 | 0.42 | 0.37 | 0.11 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | -1.24 | -0.78 | -1.75 | -1.45 | 0.08 | -0.06 | -0.38 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -2.51 | -2.51 | -2.47 | -8.87 | — | -53.36 | -29.31 | — | — | — | -52.48 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.44 | 4.44 | 4.42 | 8.54 | 9.08 | 1.82 | 2.31 | 4.10 | 2.78 | 15.46 | 3.94 |
| Quick Ratio | 4.44 | 4.44 | 4.42 | 8.54 | 8.88 | 1.82 | 2.31 | 4.10 | 2.78 | 15.46 | 3.94 |
| Cash Ratio | 4.18 | 4.18 | 4.24 | 8.37 | 6.56 | 1.74 | 2.07 | 3.90 | 2.78 | 15.46 | 3.90 |
| Asset Turnover | — | 0.07 | 0.24 | 0.03 | 0.69 | 0.41 | 0.08 | 0.00 | 0.01 | 0.01 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 111.21 | 7.54 | — | 123.42 | — | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | 0.2% | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — |
| Shares Outstanding | — | $5M | $4M | $4M | $4M | $3M | $3M | $2M | $2M | $874071 | $818302 |
Clinical trial funding exhaustion
Based on reported financial data, the current price-to-sales ratio of 1.29 suggests that the market is heavily discounting the company's platform potential, likely reflecting investor concerns regarding the sustainability of XIPERE royalties and the significant capital requirements needed to advance the internal CLS-AX pipeline.
The lack of meaningful P/E or EV/EBITDA multiples underscores the company's current pre-profitability status, forcing investors to rely on speculative revenue multiples. This valuation appears to imply that the market views the company as a distressed asset rather than a high-growth biotech platform, warranting caution until clinical milestones provide a clearer path to commercial scale.
As reported in recent financial statements, the company maintains a high gross margin of 100% in 2025Q3, yet this figure is misleading as it fails to account for the massive R&D and administrative overhead that results in a deeply negative operating margin of -35.0%.
While the high gross margin reflects the inherent efficiency of a licensing-heavy business model, it does not translate into earning power due to the heavy fixed-cost burden of clinical development. Investors should monitor whether future milestone payments can eventually cover these fixed costs, though current trends suggest that profitability remains a distant prospect.
According to quarterly data, the company's asset turnover remains extremely low at 0.01 in 2025Q3, which, combined with highly volatile days sales outstanding, suggests significant inefficiencies in converting partnership-based revenue streams into reliable, recurring cash inflows for the business.
The erratic nature of the cash conversion cycle appears to be a direct consequence of the company's reliance on lumpy, milestone-driven payments rather than steady commercial sales. This lack of operational rhythm complicates cash flow forecasting and suggests that the company remains highly vulnerable to the timing of partner-led clinical progress.
Based on the provided balance sheet figures, the current ratio has declined to 2.98 in 2025Q3, which, while appearing superficially adequate, masks a rapidly shrinking cash position that may be insufficient to support the company's ongoing clinical obligations without further dilutive financing.
The rapid depletion of liquid assets relative to the high burn rate suggests that the company's liquidity position is increasingly fragile. Investors should monitor the cash runway closely, as the current trajectory indicates that the firm may be forced to seek external capital in a potentially unfavorable market environment.
The most commonly misapplied metric for this business model is the price-to-sales ratio, which obscures the reality that current revenue is largely composed of non-recurring milestone payments rather than sustainable, recurring royalty income from the XIPERE product line.
Using P/S to value this company ignores the binary nature of its licensing revenue, which can fluctuate wildly based on clinical trial outcomes rather than market demand. A more appropriate approach would involve a risk-adjusted net present value analysis of the pipeline, which accounts for the probability of success for each clinical program.
Includes 30+ ratios · 13 years · Updated daily
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Clearside Biomedical, Inc.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Based on historical data, Clearside Biomedical, Inc. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Clearside Biomedical, Inc. has 91.0% gross margin and -1735.7% operating margin.