Latest Ratios: P/E Ratio -6.9x · EV/EBITDA N/A · ROE -55.7%. (2007–2025 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 | $2.5B | $2.2B | $794M | $602M | $605M | $993M | — | — | — | — |
| Enterprise Value | $3.1B | $1.6B | $1.8B | $700M | $461M | $437M | $692M | — | — | — | — |
| P/E Ratio → | -6.87 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 3.15 | 2.58 | 3.52 | 8.70 | 2.39 | 1.64 | 2.90 | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | -479.4% | -67.0% |
| Operating Margin | — | — | — | — | — | — | — | — | — | -81.4% | -46.9% |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | 15.0% | -90.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -55.7% | -55.7% | -88.0% | -137.3% | -54.2% | -42.0% | -33.0% | -295.6% | -0.5% | 3.9% | -50.0% |
| ROA | -47.5% | -47.5% | -74.1% | -100.1% | -45.9% | -38.3% | -31.8% | -109.6% | -0.1% | 0.6% | -10.1% |
| ROIC | -221.2% | -221.2% | -239.4% | -337.0% | -82.5% | -93.2% | -215.0% | — | -0.1% | -3.2% | -5.1% |
| ROCE | -52.4% | -52.4% | -90.1% | -123.5% | -50.6% | -40.6% | -32.9% | -127.8% | -0.1% | -3.6% | -5.6% |
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 | 0.02 | 0.02 | 0.04 | 0.30 | 0.12 | 0.09 | — | — | — | 4.44 | 4.40 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | 18.53 | 71.26 |
| Net Debt / Equity | — | -0.90 | -0.65 | -1.03 | -0.56 | -0.46 | -0.88 | -1.04 | — | 4.24 | 3.53 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | 17.73 | 57.17 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | 22.35 | 20.58 |
| Interest Coverage | -71.06 | -71.06 | — | — | -58.61 | — | -149.09 | — | -962.20 | 0.13 | -1.06 |
Net cash position: cash ($893M) exceeds total debt ($20M)
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 | 22.25 | 22.25 | 15.60 | 2.53 | 9.46 | 13.31 | 31.83 | 6.26 | 11.47 | 1.45 | 3.26 |
| Quick Ratio | 22.25 | 22.25 | 15.60 | 2.53 | 9.46 | 13.31 | 31.83 | 6.26 | 11.47 | 1.03 | 2.78 |
| Cash Ratio | 21.94 | 21.94 | 15.20 | 2.41 | 9.11 | 13.11 | 31.49 | 6.21 | 11.43 | 0.38 | 2.08 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | 0.04 | 0.10 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | 6.59 | 5.13 |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | 370.05 | 103.14 |
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% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $128M | $94M | $60M | $52M | $51M | $47M | $45M | $10M | $162M | $129M |
Clinical Trial Execution Risk
According to recent financial disclosures, Dyne Therapeutics' ROIC has remained deeply negative, reaching -81.6% in 2026Q1, which underscores the company's current status as a pre-revenue clinical-stage entity where capital is deployed into long-term R&D rather than generating immediate returns on invested assets.
The persistent decay in ROIC is a structural feature of the company's current business model, as it prioritizes the advancement of the FORCE platform over short-term profitability. Investors should monitor whether these returns begin to stabilize as clinical programs transition toward potential commercialization, though current figures suggest that capital efficiency remains secondary to clinical milestone achievement.
Based on reported financial statements, Dyne Therapeutics maintains a current ratio of 19.92 as of 2026Q1, indicating a significant liquidity position that provides the company with a robust cushion to fund its ongoing clinical trial programs without immediate reliance on external capital markets.
This elevated liquidity ratio is characteristic of a well-capitalized biotech firm in the pre-revenue phase, suggesting that the company is well-positioned to withstand periods of market volatility. However, the high ratio also implies that a large portion of assets is held in cash or equivalents, which may warrant investigation into the company's long-term capital allocation strategy as it approaches potential commercialization.
As reported in recent SEC filings, Dyne Therapeutics maintains a low debt-to-equity ratio of 0.02 as of 2026Q1, which suggests that the company has successfully avoided significant leverage during its high-burn clinical development phase, thereby preserving financial flexibility for future operational needs.
The minimal reliance on debt financing appears to be a strategic choice, allowing the company to avoid the interest coverage risks that often plague capital-intensive biotech firms. This conservative capital structure suggests that the firm is prioritizing equity-based funding to de-risk its balance sheet against the inherent uncertainty of clinical trial outcomes.
Based on an analysis of the company's financial profile, the P/E ratio is frequently misapplied to Dyne Therapeutics, as the firm's pre-revenue status renders earnings-based metrics entirely irrelevant for assessing the underlying value of its proprietary FORCE platform and clinical pipeline.
Investors should instead focus on metrics such as cash runway and clinical milestone progress, as traditional valuation multiples like P/E or EV/EBITDA fail to capture the optionality inherent in the company's R&D pipeline. Relying on these standard ratios may lead to an inaccurate assessment of the company's true value, which is currently driven by technical de-risking rather than operational profitability.
Includes 30+ ratios · 19 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying DYN stock.
Dyne Therapeutics, Inc.'s current P/E ratio is -6.9x. This places it at the 50th percentile of its historical range.
Dyne Therapeutics, Inc.'s return on equity (ROE) is -55.7%. The historical average is -46.4%.
Based on historical data, Dyne Therapeutics, Inc. is trading at a P/E of -6.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.