Latest Ratios: P/E Ratio -14.4x · EV/EBITDA N/A · ROE -44.0%. (2014–2025 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 | $186M | $189M | $80M | $105M | $34M | $93M | — | — | — | — | — |
| Enterprise Value | $162M | $165M | $85M | $95M | $25M | $45M | — | — | — | — | — |
| P/E Ratio → | -14.35 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.00 | 3.05 | 1.42 | 1.33 | 0.46 | 1.48 | — | — | — | — | — |
| P/B Ratio | 5.19 | 5.93 | 3.98 | 5.16 | 1.98 | 2.22 | — | — | — | — | — |
| P/FCF | — | — | — | 437.58 | — | — | — | — | — | — | — |
| P/OCF | — | — | — | 20.04 | — | — | — | — | — | — | — |
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 | — | 2.67 | 1.52 | 1.20 | 0.33 | 0.71 | — | — | — | — | — |
| EV / EBITDA | — | — | — | 53.48 | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | 397.12 | — | — | — | — | — | — | — |
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% | 62.8% | 66.3% | 58.2% | 49.2% | 67.2% | 69.8% | 97.2% | 100.0% | 100.0% |
| Operating Margin | -13.2% | -13.2% | -24.4% | -2.6% | -37.4% | -55.2% | 17.6% | 15.1% | -505.4% | -6613.7% | -401.3% |
| Net Profit Margin | -18.5% | -18.5% | -26.1% | -4.9% | -40.2% | -69.7% | 11.9% | 10.4% | -523.3% | -6678.3% | -394.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -44.0% | -44.0% | -72.6% | -20.6% | -100.4% | -168.1% | 81.0% | 131.7% | -315.1% | -152.8% | -41.2% |
| ROA | -13.1% | -13.1% | -18.7% | -4.2% | -29.3% | -59.0% | 12.3% | 1.9% | -49.0% | -69.4% | -33.3% |
| ROIC | -36.8% | -36.8% | -56.8% | -16.7% | -2272.9% | -895.6% | 77.4% | 3.9% | -96.4% | -133.0% | -47.9% |
| ROCE | -16.0% | -16.0% | -34.2% | -5.7% | -65.5% | -100.3% | 42.7% | 3.3% | -56.2% | -81.9% | -38.3% |
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 | 1.28 | 0.87 | 1.35 | 0.02 | 0.96 | 1.93 | — | 1.87 | — |
| Debt / EBITDA | — | — | — | 9.95 | — | — | 1.07 | 0.82 | — | — | — |
| Net Debt / Equity | — | -0.75 | 0.27 | -0.48 | -0.53 | -1.15 | 0.16 | 0.18 | — | -0.11 | -0.17 |
| Net Debt / EBITDA | — | — | — | -5.45 | — | — | 0.18 | 0.08 | — | — | — |
| Debt / FCF | — | — | — | -40.45 | — | — | 0.43 | 0.08 | — | — | — |
| Interest Coverage | -2.21 | -2.21 | -4.41 | -1.14 | -13.64 | -5.02 | 11.25 | 20.62 | -13.18 | -36.26 | -56.85 |
Net cash position: cash ($24M) exceeds total debt ($119000)
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 | 1.79 | 1.79 | 1.37 | 1.35 | 1.16 | 1.64 | 1.26 | 1.21 | 8.70 | 5.28 | 8.12 |
| Quick Ratio | 1.53 | 1.53 | 0.96 | 1.10 | 0.95 | 1.45 | 1.21 | 1.17 | 8.48 | 5.28 | 8.12 |
| Cash Ratio | 0.64 | 0.64 | 0.58 | 0.66 | 0.48 | 0.95 | 0.29 | 0.23 | 8.12 | 5.23 | 7.20 |
| Asset Turnover | — | 0.65 | 0.70 | 1.03 | 0.70 | 0.65 | 0.86 | 1.03 | 0.12 | 0.01 | 0.07 |
| Inventory Turnover | 2.62 | 2.62 | 1.45 | 2.61 | 2.17 | 3.25 | 10.39 | 12.29 | 0.14 | — | — |
| Days Sales Outstanding | — | 175.74 | 66.53 | 70.17 | 139.76 | 133.62 | 196.13 | 198.12 | 49.35 | 4.18 | 345.85 |
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 | — | — | — | 0.2% | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | — | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.1% | 0.0% | — | — | — | — | — |
| Shares Outstanding | — | $24M | $20M | $18M | $18M | $17M | $17M | $17M | $42M | $41M | $33M |
Limited liquidity and burn
Based on reported figures, DERM trades at a forward P/E of 101.85, which suggests that market participants are pricing the company as a high-growth platform play rather than on current profitability, despite the lack of consistent earnings to support such a premium valuation multiple.
The current P/S ratio of 2.95 reflects a valuation that is highly sensitive to future revenue growth expectations rather than current cash generation. Investors should monitor whether the company can achieve the scale necessary to justify these multiples, as the lack of positive FCF makes traditional valuation metrics like P/FCF currently inapplicable.
According to recent SEC filings, the company's ROIC has remained consistently negative, bottoming out at -87.5% in 2024Q1, which indicates that the firm is currently destroying shareholder value rather than compounding it through its asset-light acquisition and commercialization strategy.
The persistent negative ROIC suggests that the returns generated from the acquired product portfolio are insufficient to cover the high costs of the specialized sales force. This trend warrants further investigation into whether the upcoming DFD-29 launch can provide the necessary margin expansion to reverse this long-term decay in capital efficiency.
As reported in financial statements, the company's cash conversion cycle has fluctuated wildly, ranging from -114 days to 163 days, highlighting significant inefficiencies in managing inventory and accounts receivable relative to the company's seasonal prescription-based revenue model.
The high DSO and DIO figures suggest that the company faces structural challenges in converting sales into cash, likely exacerbated by the competitive nature of the dermatology market. This volatility in working capital management appears to be a primary driver of the company's inconsistent liquidity position.
Based on the company's reported figures, the current ratio has hovered between 1.21 and 1.79 over the last ten quarters, indicating a limited margin of safety to withstand operational shocks or potential delays in the regulatory approval of key pipeline assets.
The reliance on a narrow liquidity buffer suggests that the company may be vulnerable to sudden cash outflows, particularly given the ongoing burn rate. Investors should monitor the company's ability to maintain these ratios without resorting to dilutive financing, especially as the cash runway remains a critical concern.
The P/S ratio is frequently misapplied to DERM, as it obscures the impact of significant gross-to-net adjustments and couponing strategies that decouple reported revenue from actual cash inflows, according to industry-standard analysis of specialty pharmaceutical business models.
Analysts should instead focus on net revenue per prescription or adjusted EBITDA to better gauge the underlying economic health of the portfolio. Relying solely on top-line revenue multiples may lead to an overestimation of the company's commercial success and its ability to achieve sustainable profitability.
Includes 30+ ratios · 12 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DERM stock.
Journey Medical Corporation's current P/E ratio is -14.4x. This places it at the 50th percentile of its historical range.
Journey Medical Corporation's return on equity (ROE) is -44.0%. The historical average is -64.1%.
Based on historical data, Journey Medical Corporation is trading at a P/E of -14.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Journey Medical Corporation has 59.3% gross margin and -13.2% operating margin.