Latest Ratios: P/E Ratio -11.4x · EV/EBITDA N/A · ROE -67.7%. (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 | $432M | $374M | $219M | $92M | $42M | $77M | $159M | $58M | $23M | $30M | $10M |
| Enterprise Value | $416M | $359M | $217M | $88M | $38M | $73M | $152M | $54M | $6M | $28M | $9M |
| P/E Ratio → | -11.44 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | 45.07 | — | — |
| P/B Ratio | 6.71 | 6.66 | 5.39 | 1.81 | 1.31 | 1.76 | 6.11 | 7.63 | 1.32 | 37.15 | 8.36 |
| 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 | — | — | — | — | — | — | — | — | 11.47 | — | — |
| 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% | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | -1352.2% | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | -1146.8% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -67.7% | -67.7% | -53.3% | -46.8% | -36.1% | -38.8% | -73.1% | -86.4% | -64.3% | -416.6% | -26983.2% |
| ROA | -60.8% | -60.8% | -48.6% | -43.8% | -34.2% | -36.9% | -66.2% | -77.8% | -56.9% | -231.8% | -212.2% |
| ROIC | -65.5% | -65.5% | -47.1% | -42.8% | -31.4% | -35.2% | -84.2% | -420.3% | -2253.7% | — | — |
| ROCE | -70.8% | -70.8% | -57.8% | -50.9% | -36.7% | -38.9% | -75.1% | -93.6% | -75.8% | -442.0% | -1226.5% |
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 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.02 | 0.00 | — | 0.16 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.27 | -0.07 | -0.08 | -0.13 | -0.11 | -0.28 | -0.49 | -0.99 | -1.69 | -1.23 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | -44.41 |
Net cash position: cash ($16M) exceeds total debt ($240000)
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 | 11.81 | 11.81 | 8.28 | 19.27 | 15.61 | 29.82 | 13.77 | 6.70 | 13.87 | 1.49 | 2.96 |
| Quick Ratio | 11.81 | 11.81 | 8.28 | 19.27 | 15.61 | 29.82 | 13.77 | 6.70 | 13.87 | 1.49 | 2.96 |
| Cash Ratio | 11.67 | 11.67 | 8.19 | 18.99 | 15.45 | 29.60 | 13.56 | 5.98 | 12.98 | 1.35 | 2.77 |
| Asset Turnover | — | — | — | — | — | — | — | — | 0.03 | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | 471.58 | — | — |
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% | 0.0% | 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% | 0.0% |
| Shares Outstanding | — | $47M | $40M | $33M | $26M | $21M | $16M | $12M | $8M | $6M | $5M |
Clinical trial funding shortfall
Based on reported figures, DMAC trades at a price-to-book ratio of 5.48, which appears to reflect a significant risk discount compared to broader biotech peers, as investors weigh the company's limited cash runway against the binary potential of its primary clinical asset, DM199.
The current P/B multiple suggests that the market is valuing the firm primarily as a call option on its intellectual property rather than on any tangible asset base. Given the absence of revenue, traditional valuation metrics are largely irrelevant, and the current pricing likely incorporates a high probability of future equity dilution to bridge the funding gap.
As reported in financial statements, DMAC's ROIC has trended downward from -8.7% in 2023Q4 to -18.9% in 2026Q1, illustrating a consistent erosion of capital efficiency as the company intensifies its R&D spending without a corresponding increase in commercialized value or revenue-generating milestones.
The negative return on capital is a structural byproduct of the company's pre-revenue status and the high fixed costs associated with clinical trial management. Investors should monitor whether the eventual data readouts can justify this capital intensity, as the current trajectory indicates that every dollar invested is currently destroying book value.
According to recent SEC filings, the current ratio has plummeted from 19.27 in 2023Q4 to 9.11 in 2026Q1, signaling that while the firm remains technically solvent, its ability to sustain operations without external financing is diminishing at an accelerating pace as clinical trial costs mount.
The high current ratio is somewhat misleading, as it is driven by a cash-heavy balance sheet that is being depleted to fund the REMEDY2 trial. Under severe stress, the lack of revenue-generating assets means the company has no internal mechanism to replenish this liquidity, making it entirely dependent on capital market access.
The price-to-book ratio is frequently misapplied to DMAC, as it obscures the reality that the company's true value lies in its intangible clinical pipeline rather than its balance sheet, which is largely composed of cash being burned to fund ongoing research and development activities.
Using P/B as a valuation anchor for a clinical-stage biotech is fundamentally flawed because it treats the company's cash reserves as a static asset rather than a finite resource for trial execution. Analysts should instead utilize a probability-adjusted Net Present Value (rNPV) model to account for the binary nature of clinical trial outcomes.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying DMAC stock.
DiaMedica Therapeutics Inc.'s current P/E ratio is -11.4x. This places it at the 50th percentile of its historical range.
DiaMedica Therapeutics Inc.'s return on equity (ROE) is -67.7%. The historical average is -120.6%.
Based on historical data, DiaMedica Therapeutics Inc. is trading at a P/E of -11.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.