Latest Ratios: P/E Ratio -0.7x · EV/EBITDA N/A · ROE -150.3%. (2011–2025 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 | $1.0B | $107M | $59M | $182M | $237M | $176M | $283M | $396M | $186M | $609M | $859M |
| Enterprise Value | $854M | $-65457465 | $35M | $47M | $32M | $110M | $103M | $230M | $23M | $421M | $581M |
| P/E Ratio → | -0.66 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | 11.55 | 49.33 | 30.89 | 25.14 | 26.92 | 14.49 | 52.87 | 108.38 |
| P/B Ratio | 0.57 | 0.63 | 2.17 | 1.30 | 1.22 | 1.78 | 1.38 | 2.05 | 1.12 | 3.33 | 3.21 |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | 2.98 | 6.62 | 19.21 | 9.10 | 15.63 | 1.80 | 36.58 | 73.35 |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | 100.0% | -322.9% | -62.5% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | — | — | — | -486.0% | -2013.1% | -1727.6% | -1408.7% | -1162.8% | -1483.6% | -1510.0% | -1540.6% |
| Net Profit Margin | — | — | — | -462.4% | -2006.3% | -1713.5% | -1415.0% | -1169.5% | -1484.7% | -1538.3% | -1593.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -150.3% | -150.3% | -135.7% | -43.5% | -65.6% | -64.2% | -80.0% | -95.8% | -109.1% | -78.6% | -38.7% |
| ROA | -98.5% | -98.5% | -91.5% | -33.9% | -49.0% | -46.7% | -58.7% | -67.9% | -78.5% | -62.5% | -34.8% |
| ROIC | — | — | -2231.7% | -1067.1% | -664.9% | -259.5% | -461.0% | -847.2% | -4441.0% | — | — |
| ROCE | -145.7% | -145.7% | -133.8% | -42.2% | -58.2% | -59.0% | -72.7% | -87.0% | -101.4% | -71.7% | -36.2% |
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 | 0.13 | 0.13 | 0.28 | 0.05 | 0.02 | 0.11 | 0.08 | 0.14 | 0.03 | 0.04 | 0.02 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.02 | -0.90 | -0.96 | -1.05 | -0.67 | -0.88 | -0.86 | -0.98 | -1.03 | -1.04 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -227.12 | -144.25 | -186.87 | -452.53 | -396.92 | -43.46 | -6897.62 |
Net cash position: cash ($194M) exceeds total debt ($22M)
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 | 3.67 | 3.67 | 1.43 | 4.26 | 7.56 | 3.65 | 3.93 | 3.79 | 3.34 | 4.37 | 9.38 |
| Quick Ratio | 3.67 | 3.67 | 1.43 | 4.26 | 7.47 | 3.65 | 3.93 | 3.75 | 3.30 | 4.31 | 9.38 |
| Cash Ratio | 3.35 | 3.35 | 1.04 | 3.79 | 7.09 | 2.46 | 3.72 | 3.58 | 2.82 | 3.84 | 8.84 |
| Asset Turnover | — | — | — | 0.09 | 0.02 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.02 |
| Inventory Turnover | — | — | — | — | 7.57 | — | — | — | 2.35 | 1.19 | — |
| Days Sales Outstanding | — | — | — | 358.43 | 798.00 | 2114.42 | 254.43 | 134.23 | 574.04 | 629.47 | 626.87 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.0% | 0.3% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.1% | 0.1% | 0.0% | 0.0% | 0.2% | 0.0% | 0.3% | 0.0% | 0.0% |
| Shares Outstanding | — | $6M | $19M | $19M | $15M | $11M | $11M | $7M | $6M | $5M | $5M |
Regulatory approval and liquidity
According to recent market data, DBVT trades at a price-to-book ratio of 0.53, which, as noted in financial filings, reflects a significant discount to historical levels and suggests that investors are heavily discounting the firm's terminal value due to persistent regulatory hurdles and the absence of commercial revenue.
The current valuation appears to be driven almost entirely by the potential success of the Viaskin platform rather than any tangible asset base. Investors should monitor whether this discount is a structural reflection of the market's skepticism regarding the FDA approval timeline or if it presents a mispricing of the company's proprietary technology.
Based on reported figures, DBVT's return on invested capital has remained deeply negative, with recent quarterly data showing a -75.0% ROIC in 2025Q2, illustrating the company's inability to generate positive returns while it continues to fund high-cost clinical trials without any offsetting commercial product sales.
The persistent negative returns on capital are a direct consequence of the company's R&D-heavy business model, which requires substantial upfront investment before any potential commercialization. This trend suggests that the company is currently in a value-destructive phase, where capital is being consumed to sustain operations rather than compounding for future growth.
As reported in recent financial statements, DBVT maintains a current ratio of 4.76 as of 2026Q1, yet this figure appears misleading as it reflects a cash-heavy balance sheet that is rapidly depleting to fund ongoing clinical development rather than supporting a sustainable, revenue-generating operational model.
While the current ratio suggests a comfortable liquidity position, the lack of recurring revenue means that this liquidity is finite and subject to rapid erosion. Investors should monitor the cash burn rate closely, as the current liquidity buffer may be insufficient to reach a commercial inflection point without further dilutive financing.
The current ratio is frequently misapplied to pre-revenue biotech firms like DBVT, as it obscures the reality that the company's assets are not working capital but rather a finite runway for clinical trials, as evidenced by the rapid decline in cash reserves reported in recent quarterly filings.
Instead of relying on the current ratio, analysts should focus on the 'cash runway' metric, which measures the number of quarters the company can sustain its current burn rate before requiring additional capital. Using traditional liquidity ratios in this context may lead to an overestimation of the company's financial stability and an underestimation of the urgency for regulatory success.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DBVT stock.
DBV Technologies S.A.'s current P/E ratio is -0.7x. This places it at the 50th percentile of its historical range.
DBV Technologies S.A.'s return on equity (ROE) is -150.3%. The historical average is -68.4%.
Based on historical data, DBV Technologies S.A. is trading at a P/E of -0.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.