Latest Ratios: P/E Ratio 21.1x · EV/EBITDA 4.5x · ROE 23.7%. (2013–2025 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 | $1.2B | $1.8B | $1.2B | $1.3B | $785M | $767M | $704M | $688M | $566M | $559M | $378M |
| Enterprise Value | $1.9B | $2.5B | $1.9B | $1.7B | $1.3B | $839M | $797M | $540M | $431M | $441M | $229M |
| P/E Ratio → | 21.06 | 26.76 | 15.40 | 23.86 | — | 10.04 | 26.36 | — | — | — | — |
| P/S Ratio | 1.51 | 2.35 | 1.83 | 2.27 | 1.69 | 2.77 | 2.27 | 2.32 | 2.02 | 19.62 | 220.79 |
| P/B Ratio | 4.80 | 6.09 | 5.06 | 6.58 | 4.03 | 3.78 | 3.78 | 7.87 | 6.18 | 5.37 | 2.80 |
| P/FCF | 3.61 | 5.61 | 5.70 | 4.69 | 6.40 | 7.55 | — | 32.25 | 3.90 | — | — |
| P/OCF | 3.59 | 5.58 | 5.65 | 4.68 | 6.32 | 7.40 | 7.49 | 24.78 | 3.34 | — | — |
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 | — | 3.24 | 3.08 | 3.04 | 2.85 | 3.03 | 2.57 | 1.82 | 1.54 | 15.50 | 133.66 |
| EV / EBITDA | 4.53 | 6.12 | 5.74 | 5.44 | 7.66 | 9.70 | 6.76 | — | 4.77 | — | — |
| EV / EBIT | 10.00 | 14.45 | 11.28 | 10.82 | 38.42 | 47.57 | 14.11 | — | — | — | — |
| EV / FCF | — | 7.72 | 9.58 | 6.28 | 10.77 | 8.26 | — | 25.30 | 2.97 | — | — |
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 | 59.3% | 59.3% | 59.8% | 57.5% | 45.2% | 54.4% | 58.0% | 34.7% | 40.9% | 90.9% | 87.6% |
| Operating Margin | 24.0% | 24.0% | 26.9% | 29.5% | 7.2% | 6.4% | 18.1% | -8.0% | -7.4% | -264.9% | -5498.7% |
| Net Profit Margin | 8.1% | 8.1% | 11.0% | 8.5% | -5.4% | 25.8% | 8.6% | -7.7% | -14.0% | -262.9% | -5504.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 23.7% | 23.7% | 32.6% | 24.7% | -12.6% | 36.8% | 19.6% | -25.4% | -40.0% | -62.7% | -85.6% |
| ROA | 3.8% | 3.8% | 4.9% | 4.2% | -2.7% | 10.7% | 5.6% | -7.6% | -18.3% | -50.3% | -72.5% |
| ROIC | 14.0% | 14.0% | 15.5% | 18.4% | 5.0% | 4.8% | 38.8% | — | — | — | — |
| ROCE | 15.8% | 15.8% | 18.5% | 23.4% | 5.8% | 4.3% | 22.1% | -22.8% | -19.9% | -62.1% | -81.4% |
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 | 3.12 | 3.12 | 3.75 | 3.45 | 3.64 | 1.28 | 1.43 | 0.25 | 0.13 | 0.01 | 0.03 |
| Debt / EBITDA | 2.28 | 2.28 | 2.53 | 2.13 | 4.12 | 2.99 | 2.26 | — | 0.13 | — | — |
| Net Debt / Equity | — | 2.29 | 3.45 | 2.23 | 2.75 | 0.36 | 0.50 | -1.70 | -1.48 | -1.13 | -1.11 |
| Net Debt / EBITDA | 1.67 | 1.67 | 2.33 | 1.38 | 3.11 | 0.84 | 0.79 | — | -1.50 | — | — |
| Debt / FCF | — | 2.10 | 3.88 | 1.59 | 4.37 | 0.71 | — | -6.95 | -0.93 | — | — |
| Interest Coverage | 2.13 | 2.13 | 2.33 | 1.91 | 0.54 | 0.84 | 1.95 | -24.00 | -0.94 | — | -1000.87 |
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 | 1.57 | 1.57 | 0.95 | 1.17 | 0.97 | 1.13 | 1.16 | 1.27 | 1.27 | 4.24 | 6.92 |
| Quick Ratio | 1.48 | 1.48 | 0.88 | 1.10 | 0.86 | 1.07 | 1.10 | 1.22 | 1.23 | 4.18 | 6.86 |
| Cash Ratio | 0.92 | 0.92 | 0.32 | 0.68 | 0.40 | 0.67 | 0.73 | 0.84 | 0.78 | 3.77 | 6.68 |
| Asset Turnover | — | 0.47 | 0.38 | 0.50 | 0.40 | 0.40 | 0.48 | 0.97 | 0.96 | 0.21 | 0.01 |
| Inventory Turnover | 7.76 | 7.76 | 7.15 | 7.44 | 5.47 | 7.26 | 8.34 | 20.08 | 21.19 | 1.43 | 0.16 |
| Days Sales Outstanding | — | 98.82 | 132.10 | 115.61 | 144.07 | 139.54 | 98.10 | 89.75 | 101.46 | 127.78 | 454.17 |
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 | — | — | — | — | — | — | — | — | — | — | 6.5% |
| 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 | 4.7% | 3.7% | 6.5% | 4.2% | — | 10.0% | 3.8% | — | — | — | — |
| FCF Yield | 27.7% | 17.8% | 17.6% | 21.3% | 15.6% | 13.3% | — | 3.1% | 25.6% | — | — |
| Buyback Yield | 2.1% | 1.4% | 5.2% | 5.8% | 1.8% | 6.2% | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% |
| Total Shareholder Yield | 2.1% | 1.4% | 5.2% | 5.8% | 1.8% | 6.2% | 0.0% | 0.1% | 0.1% | 0.0% | 6.5% |
| Shares Outstanding | — | $40M | $40M | $42M | $34M | $41M | $35M | $33M | $33M | $30M | $24M |
Regulatory and Quota Constraints
Based on reported figures, Collegium trades at a forward P/E of 4.70, which appears to reflect a significant market-imposed complexity discount relative to peers, likely stemming from persistent concerns regarding opioid-related litigation and the long-term sustainability of its specialty pain management franchise in a restrictive regulatory environment.
The current valuation suggests that investors are pricing in a terminal decline for the core portfolio, despite the company's successful diversification into ADHD treatments. This multiple compression warrants further investigation, as it may overlook the cash-generative durability of the Nucynta franchise and the potential for margin expansion through operational synergies.
As reported in financial statements, Collegium's ROIC has fluctuated between 1.6% and 7.3% over the last ten quarters, indicating that the company's ability to compound returns is heavily hampered by the substantial amortization of acquired intangible assets that weigh on the denominator of the capital efficiency calculation.
The observed volatility in ROIC suggests that the company's M&A-heavy strategy requires constant, high-stakes execution to generate returns above its cost of capital. Investors should monitor whether future acquisitions can achieve higher internal rates of return without the heavy royalty burdens that currently suppress net profitability.
According to recent SEC filings, the company's cash conversion cycle has remained elevated, averaging approximately 145 days over the past ten quarters, which suggests that Collegium faces structural challenges in optimizing its inventory and receivable management compared to more agile specialty pharmaceutical peers in the CNS space.
The high DSO, which has consistently hovered around 100 days, indicates that the company may be offering extended payment terms to wholesalers to maintain formulary access. This reliance on working capital to support sales suggests that the company's cash flow profile is sensitive to shifts in PBM and distributor payment behavior.
Based on the provided quarterly data, Collegium's debt-to-EBITDA ratio remains elevated at 9.19 as of 2026Q1, signaling that despite recent deleveraging efforts, the company's capital structure remains sensitive to interest rate fluctuations and the ongoing need to fund future growth through external financing rather than organic cash generation.
While the interest coverage ratio of 2.02 provides a modest buffer, the reliance on debt to fund acquisitions creates a narrow margin for error in the event of a regulatory shock or DEA quota reduction. The company's leverage profile appears to be a primary driver of its current valuation discount compared to less indebted peers.
The most commonly misapplied metric for Collegium is GAAP net income, which is significantly distorted by non-cash amortization of intangible assets, leading to an artificially low P/E ratio that obscures the company's true underlying cash-generating power and its ability to service debt obligations over the long term.
Analysts should instead focus on adjusted EBITDA or free cash flow, which better reflect the operational reality of the business. Relying on GAAP earnings in this context may lead to an incorrect assessment of the company's valuation, as it fails to account for the non-recurring nature of acquisition-related accounting charges.
Includes 30+ ratios · 13 years · Updated daily
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Quick answers to the most common questions about buying COLL stock.
Collegium Pharmaceutical, Inc.'s current P/E ratio is 21.1x. The historical average is 20.5x. This places it at the 40th percentile of its historical range.
Collegium Pharmaceutical, Inc.'s current EV/EBITDA is 4.5x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.6x.
Collegium Pharmaceutical, Inc.'s return on equity (ROE) is 23.7%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -37.8%.
Based on historical data, Collegium Pharmaceutical, Inc. is trading at a P/E of 21.1x. This is at the 40th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Collegium Pharmaceutical, Inc. has 59.3% gross margin and 24.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Collegium Pharmaceutical, Inc.'s Debt/EBITDA ratio is 2.3x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.