Latest Ratios: P/E Ratio -22.2x · EV/EBITDA N/A · ROE -38.4%. (2016–2025 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 | $1.6B | $726M | $54M | $24M | $243M | $344M | $561M | $190M | — | — |
| Enterprise Value | $3.8B | $1.5B | $705M | $-78144401 | $9M | $112M | $286M | $496M | $132M | — | — |
| P/E Ratio → | -22.22 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1914.02 | 764.98 | 116.48 | 18.97 | 3.69 | 164.92 | — | — | — | — | — |
| P/B Ratio | 7.15 | 3.16 | 2.06 | 0.32 | 0.32 | 1.41 | 2.39 | 3.97 | 1.30 | — | — |
| 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 | — | 740.57 | 113.06 | -27.65 | 1.42 | 75.73 | — | — | — | — | — |
| 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% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | — | — | — | — |
| Operating Margin | -8739.3% | -8739.3% | -1633.7% | -1704.7% | -462.9% | -886.6% | — | — | — | — | — |
| Net Profit Margin | -7973.3% | -7973.3% | -1362.8% | -1541.2% | -443.8% | -888.1% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -38.4% | -38.4% | -32.6% | -35.9% | -23.1% | -8.3% | -52.6% | -53.5% | -58.7% | -119.6% | -104.3% |
| ROA | -35.9% | -35.9% | -30.7% | -33.2% | -20.9% | -7.5% | -46.4% | -48.2% | -54.3% | -107.9% | -83.2% |
| ROIC | -34.4% | -34.4% | -41.5% | -75.1% | -44.5% | -15.5% | -72.9% | -76.2% | -104.5% | -1647.4% | — |
| ROCE | -41.6% | -41.6% | -38.8% | -39.4% | -23.4% | -7.9% | -52.9% | -56.4% | -60.8% | -120.4% | -102.5% |
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 | 0.00 | 0.00 | 0.01 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.06 | -0.78 | -0.20 | -0.76 | -0.40 | -0.46 | -0.40 | -1.02 | -0.50 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -19.90 | — | — | — | -56.86 |
Net cash position: cash ($51M) exceeds total debt ($1M)
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 | 13.32 | 13.32 | 15.22 | 18.42 | 9.97 | 16.63 | 13.26 | 10.62 | 13.95 | 12.68 | 4.71 |
| Quick Ratio | 13.32 | 13.32 | 15.22 | 18.42 | 9.97 | 16.63 | 13.26 | 10.62 | 13.95 | 12.68 | 4.71 |
| Cash Ratio | 13.16 | 13.16 | 14.92 | 18.04 | 9.18 | 16.29 | 13.02 | 10.32 | 13.68 | 12.45 | 1.98 |
| Asset Turnover | — | 0.00 | 0.02 | 0.02 | 0.08 | 0.01 | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 18.29 | 47.24 | 61.74 | 320.69 | — | — | — | — | — | — |
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% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $38M | $33M | $5M | $4M | $3M | $3M | $2M | $2M | $2M | $2M |
High clinical cash burn
Based on reported figures, the company's P/S ratio of 1955.24 is an outlier that reflects its pre-commercial status rather than fundamental value, as the firm lacks the recurring product revenue necessary to justify traditional valuation metrics compared to established peers like Argenx.
Investors should recognize that standard valuation multiples are largely meaningless for a company in this stage of development. The current pricing appears to be driven entirely by the probability-adjusted potential of the DNTH103 pipeline rather than any historical earnings or sales performance.
As reported in financial statements, the company's ROIC has remained consistently negative, fluctuating between -6.9% and -37.9% over the last ten quarters, which underscores the heavy capital intensity required to advance its monoclonal antibody pipeline without generating offsetting commercial returns.
The persistent negative return on invested capital is a structural reality of the biotech sector, where significant upfront investment precedes any potential commercialization. This trend warrants further investigation into whether the company's clinical trial milestones are being met with sufficient speed to eventually justify the capital deployed.
According to recent SEC filings, the company's current ratio has experienced significant volatility, dropping from 42.52 in 2024Q1 to 29.25 in 2026Q1, which highlights the rapid consumption of cash reserves as the firm funds its intensive clinical development programs.
While the current ratio remains high, it is a misleading indicator of long-term stability given the lack of recurring revenue and the high burn rate. The company's liquidity position appears increasingly vulnerable, suggesting that management may need to secure additional financing to sustain operations through the next phase of clinical trials.
Based on the provided peer data, Dianthus Therapeutics trades at a P/B of 7.30, which sits in the middle of the cohort, yet its negative ROE of -4.8% in 2026Q1 suggests it lags behind more mature peers in terms of operational efficiency.
The gap between DNTH and its peers appears structural, driven by the company's earlier clinical stage and the specific risks associated with its C1s inhibitor program. Investors should monitor whether the company can narrow this performance gap as it progresses through its Phase 1 and Phase 2 clinical milestones.
The P/S ratio is the most commonly misapplied metric for this business model, as it obscures the reality that current revenue is non-recurring and milestone-based, failing to capture the true value of the underlying clinical pipeline.
Analysts should instead focus on the cash-to-burn ratio and the probability-adjusted Net Present Value of the pipeline. Relying on P/S multiples in a pre-commercial biotech context may lead to erroneous conclusions regarding the company's growth trajectory and long-term viability.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying DNTH stock.
Dianthus Therapeutics, Inc.'s current P/E ratio is -22.2x. This places it at the 50th percentile of its historical range.
Dianthus Therapeutics, Inc.'s return on equity (ROE) is -38.4%. The historical average is -52.7%.
Based on historical data, Dianthus Therapeutics, Inc. is trading at a P/E of -22.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Dianthus Therapeutics, Inc. has 100.0% gross margin and -8739.3% operating margin.