Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -49.2%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $48M | $34M | $3M | $11M | $3M | $43M | $37M | — | — |
| Enterprise Value | $42M | $28M | $3M | $7M | $-4418448 | $29M | $7M | — | — |
| P/E Ratio → | -0.33 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.16 | 0.46 | 0.04 | 2.84 | 0.36 | 2.94 | 1.24 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -49.2% | -49.2% | -36.3% | -95.1% | -112.2% | -71.8% | -82.8% | — | — |
| ROA | -37.1% | -37.1% | -25.1% | -84.5% | -101.4% | -67.6% | -65.1% | -1295.7% | -3205.6% |
| ROIC | -31.4% | -31.4% | -28.0% | -1040.2% | -2343.1% | -3675.0% | — | — | — |
| ROCE | -31.4% | -31.4% | -25.8% | -97.8% | -112.8% | -70.4% | -69.9% | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.24 | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.08 | 0.01 | -0.87 | -0.96 | -0.97 | -1.00 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -132.96 | — | — | — | -26.04 | -7.38 | -12.90 |
Net cash position: cash ($7M) exceeds total debt ($162604)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.76 | 2.76 | 5.21 | 11.62 | 8.02 | 12.37 | 20.55 | 0.19 | 0.03 |
| Quick Ratio | 2.76 | 2.76 | 5.21 | 11.62 | 8.02 | 12.37 | 20.55 | 0.19 | 0.03 |
| Cash Ratio | 2.13 | 2.13 | 4.67 | 9.25 | 6.74 | 10.98 | 19.45 | 0.19 | 0.02 |
| Asset Turnover | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.2% | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | 0.2% | — | — |
| Shares Outstanding | — | $8M | $1M | $751071 | $442804 | $333172 | $197079 | $193299 | $193299 |
Imminent liquidity exhaustion
According to recent market data, DWTX trades at a price-to-book ratio of 0.18, which, based on historical trends for clinical-stage biotechnology firms, suggests that investors assign negligible value to the company's intellectual property portfolio and anticipate significant dilution from future capital raises to sustain operations.
The current valuation multiples are largely academic given the absence of revenue and the company's pre-commercial status. The extremely low P/B ratio indicates that the market is pricing the equity below the liquidation value of its assets, reflecting deep skepticism regarding the clinical success of the IMC-1 and IMC-2 programs.
As reported in financial statements, DWTX has consistently generated negative ROIC, with figures reaching -17.3% in 2025Q3, illustrating that the company is currently destroying shareholder capital as it funds high-cost clinical trials without any offsetting revenue generation or operational efficiency gains to mitigate the burn.
The negative return on capital is a structural feature of the current development-stage business model rather than a temporary operational failure. Investors should monitor whether the company can achieve a positive inflection point in capital efficiency, though this remains unlikely until the firm successfully transitions to a commercial entity.
Based on quarterly filings, the current ratio has fluctuated significantly, dropping from 11.62 in 2023Q4 to 2.76 in 2025Q4, which suggests that the company's ability to cover short-term obligations is rapidly deteriorating as cash reserves are depleted by ongoing research and development expenditures.
While the current ratio appears superficially adequate, the rapid decline in absolute cash levels relative to the high monthly burn rate warrants extreme caution. The lack of inventory or receivables means the company is entirely dependent on its cash balance, leaving it highly vulnerable to any unexpected delays in clinical trial timelines.
As indicated by historical data, the company's debt-to-equity ratio spiked to 10.70 in 2025Q1 before retreating, which, according to recent filings, reflects a volatile and potentially unsustainable approach to capital management that necessitates further investigation into the terms of financing and potential for future dilutive conversions.
The erratic nature of the debt-to-equity ratio suggests that the company has relied on opportunistic, short-term financing to bridge its funding gaps. This reliance on debt or convertible instruments in a pre-revenue state creates significant overhang for equity holders and increases the risk of a distressed capital restructuring.
Analysts frequently misapply net margin and P/E ratios to DWTX, which, as noted in recent research, obscures the reality that these metrics are meaningless for a pre-revenue biotech firm where the primary value driver is the probability-weighted success of clinical trials rather than current earnings.
Using standard profitability ratios for DWTX is fundamentally flawed because it ignores the binary nature of the company's clinical pipeline. Instead of earnings-based metrics, investors should focus on the cash runway ratio and the probability-adjusted net present value of the pipeline assets to better assess the company's true economic potential.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying DWTX stock.
Dogwood Therapeutics, Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Dogwood Therapeutics, Inc.'s return on equity (ROE) is -49.2%. The historical average is -74.6%.
Based on historical data, Dogwood Therapeutics, Inc. is trading at a P/E of -0.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.