Latest Ratios: P/E Ratio 18.7x · EV/EBITDA 10.6x · ROE 25.5%. (2004–2025 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 | $3.9B | $3.0B | $2.6B | $1.9B | $2.1B | $730M | $355M | $398M | $197M | $335M | $87M |
| Enterprise Value | $3.1B | $2.3B | $2.1B | $1.8B | $1.8B | $563M | $225M | $309M | $180M | $278M | $73M |
| P/E Ratio → | 18.74 | 13.89 | 15.93 | 26.68 | 24.80 | 18.30 | 4.70 | 12.50 | — | — | — |
| P/S Ratio | 6.54 | 5.04 | 5.30 | 4.80 | 9.67 | 5.18 | 2.98 | 3.89 | 394.11 | — | — |
| P/B Ratio | 4.20 | 3.11 | 3.58 | 4.93 | 6.90 | 3.53 | 2.09 | 4.54 | 3.88 | 4.14 | 2.21 |
| P/FCF | 18.47 | 14.24 | 10.90 | 30.91 | 17.86 | 12.30 | 7.88 | 11.49 | — | — | — |
| P/OCF | 18.47 | 14.23 | 10.87 | 13.32 | 17.85 | 12.09 | 7.88 | 11.49 | — | — | — |
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 | — | 3.84 | 4.26 | 4.47 | 8.30 | 3.99 | 1.89 | 3.02 | 361.00 | — | — |
| EV / EBITDA | 10.65 | 7.66 | 8.99 | 14.86 | 17.24 | 10.70 | 5.43 | 9.69 | — | — | — |
| EV / EBIT | 12.21 | 8.78 | 10.73 | 20.48 | 17.45 | 10.74 | 5.44 | 9.71 | — | — | — |
| EV / FCF | — | 10.85 | 8.75 | 28.75 | 15.32 | 9.48 | 4.99 | 8.93 | — | — | — |
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 | 85.2% | 85.2% | 86.0% | 86.9% | 83.9% | 84.5% | 85.7% | 85.6% | -3883.8% | — | — |
| Operating Margin | 43.8% | 43.8% | 39.7% | 21.8% | 47.5% | 37.2% | 34.7% | 31.1% | -7059.0% | — | — |
| Net Profit Margin | 36.4% | 36.4% | 33.3% | 17.9% | 38.8% | 28.0% | 63.0% | 31.2% | -6800.7% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 25.5% | 25.5% | 29.4% | 20.7% | 32.8% | 21.0% | 58.3% | 46.1% | -51.6% | -30.6% | -38.1% |
| ROA | 21.9% | 21.9% | 24.8% | 16.9% | 27.1% | 18.4% | 49.2% | 36.9% | -46.6% | -29.0% | -35.5% |
| ROIC | 83.8% | 83.8% | 62.7% | 50.1% | 335.7% | 99.5% | 161.1% | 143.4% | -91.8% | -57.3% | -54.9% |
| ROCE | 30.5% | 30.5% | 34.7% | 24.4% | 38.5% | 27.5% | 32.0% | 45.7% | -53.5% | -30.9% | -40.1% |
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 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.02 | 0.00 | 0.01 | — | — | — |
| Debt / EBITDA | 0.01 | 0.01 | 0.01 | 0.03 | 0.04 | 0.08 | 0.00 | 0.03 | — | — | — |
| Net Debt / Equity | — | -0.74 | -0.71 | -0.35 | -0.98 | -0.81 | -0.77 | -1.01 | -0.33 | -0.71 | -0.35 |
| Net Debt / EBITDA | -2.39 | -2.39 | -2.21 | -1.12 | -2.86 | -3.18 | -3.15 | -2.78 | — | — | — |
| Debt / FCF | — | -3.39 | -2.15 | -2.17 | -2.54 | -2.82 | -2.89 | -2.56 | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | -40.54 | -56.19 |
Net cash position: cash ($709M) 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 | 6.08 | 6.08 | 5.17 | 2.88 | 5.57 | 7.76 | 7.00 | 4.62 | 5.80 | 19.97 | 19.79 |
| Quick Ratio | 5.82 | 5.82 | 5.01 | 2.68 | 5.45 | 7.47 | 6.79 | 4.54 | 5.80 | 19.97 | 19.79 |
| Cash Ratio | 4.82 | 4.82 | 4.29 | 1.81 | 5.18 | 7.07 | 6.16 | 3.92 | 5.62 | 19.69 | 19.29 |
| Asset Turnover | — | 0.53 | 0.58 | 0.85 | 0.57 | 0.59 | 0.62 | 0.91 | 0.01 | — | — |
| Inventory Turnover | 2.35 | 2.35 | 3.52 | 3.32 | 5.05 | 2.78 | 3.66 | 7.54 | 355.62 | — | — |
| Days Sales Outstanding | — | 79.49 | 48.61 | 49.05 | 18.39 | 17.43 | 18.35 | 37.59 | — | — | — |
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 | 5.3% | 7.2% | 6.3% | 3.7% | 4.0% | 5.5% | 21.3% | 8.0% | — | — | — |
| FCF Yield | 5.4% | 7.0% | 9.2% | 3.2% | 5.6% | 8.1% | 12.7% | 8.7% | — | — | — |
| Buyback Yield | 0.7% | 0.9% | 0.0% | 0.0% | 0.3% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.7% | 0.9% | 0.0% | 0.0% | 0.3% | 1.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $127M | $125M | $114M | $111M | $108M | $106M | $106M | $103M | $86M | $83M |
Regulatory Orphan Drug Exclusivity
According to current market data, CPRX trades at a forward P/E of 16.13, which appears modest relative to its historical growth trajectory and suggests that investors are discounting the sustainability of its orphan drug franchise despite the company's strong cash-generative capabilities and lack of debt.
The current P/E multiple of 18.75 TTM implies a market expectation of moderate growth, potentially underestimating the long-term value of the Agamree launch and the strategic optionality provided by the $709M cash pile. When compared to peers like ACAD, the valuation appears to be pricing in significant regulatory risk rather than the company's demonstrated ability to maintain high margins in a niche neurology segment.
Based on reported financial statements, Catalyst Pharmaceuticals has maintained a robust ROIC, which peaked at 23.5% in 2025Q2, indicating that the firm is effectively compounding capital by leveraging its existing sales infrastructure to support new product acquisitions without requiring significant additional investment in fixed assets.
The trend in ROIC, which has consistently remained above 15% over the last two years, suggests that the company's asset-light business model is highly efficient at converting invested capital into earnings. This performance stands in stark contrast to many biotechnology peers that struggle with negative returns on capital due to excessive R&D spending and high capital intensity.
As indicated by recent quarterly filings, the company's cash conversion cycle has fluctuated significantly, reaching 178 days in 2026Q1, which suggests that the timing of inventory stocking and royalty payments can create temporary volatility in working capital efficiency compared to historical averages.
The increase in the cash conversion cycle is largely driven by rising days inventory outstanding, which warrants further investigation to determine if this reflects strategic stocking for new product launches or a potential slowdown in demand. Investors should monitor whether this trend persists, as it may indicate a shift in the company's ability to manage its supply chain effectively as it scales.
The price-to-earnings ratio is the most commonly misapplied metric for this business model, as it fails to account for the massive cash balance that acts as a strategic call option for future acquisitions rather than just a static asset on the balance sheet.
Using a standard P/E multiple ignores the fact that the company's earnings are currently depressed by the amortization of intangible assets and the lack of deployment of its $709M cash reserve. A more appropriate valuation approach would involve an EV/EBITDA analysis that adjusts for the cash-rich balance sheet, providing a clearer picture of the company's true operational earning power.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying CPRX stock.
Catalyst Pharmaceuticals, Inc.'s current P/E ratio is 18.7x. The historical average is 16.7x. This places it at the 71th percentile of its historical range.
Catalyst Pharmaceuticals, Inc.'s current EV/EBITDA is 10.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.7x.
Catalyst Pharmaceuticals, Inc.'s return on equity (ROE) is 25.5%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -45.9%.
Based on historical data, Catalyst Pharmaceuticals, Inc. is trading at a P/E of 18.7x. This is at the 71th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Catalyst Pharmaceuticals, Inc. has 85.2% gross margin and 43.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Catalyst Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 0.0x, indicating low leverage. A ratio below 2x is generally considered financially healthy.