Latest Ratios: P/E Ratio -5.0x · EV/EBITDA N/A · ROE -478.7%. (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 | $69M | $38M | $121M | $33M | $18M | $34M | $61M | $47M | $183M | — | — |
| Enterprise Value | $71M | $40M | $122M | $23M | $1M | $552882 | $59M | $35M | $176M | — | — |
| P/E Ratio → | -5.02 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.14 | 1.19 | 4.82 | 2.05 | 2.12 | 6.33 | 17.40 | 19.54 | 184.48 | — | — |
| P/B Ratio | — | — | 16.08 | 4.41 | 1.07 | 0.94 | 2.57 | 1.88 | 2.77 | — | — |
| 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 | — | 1.26 | 4.84 | 1.44 | 0.14 | 0.10 | 17.00 | 14.71 | 176.83 | — | — |
| 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 | 86.8% | 86.8% | 85.0% | 82.5% | 81.2% | 74.6% | 50.3% | 51.6% | 41.7% | 36.1% | 51.3% |
| Operating Margin | -41.1% | -41.1% | -48.3% | -117.3% | -266.2% | -367.7% | -707.9% | -1928.2% | -5494.1% | -3160.3% | -5906.3% |
| Net Profit Margin | -43.6% | -43.6% | -47.2% | -117.5% | -257.9% | -315.9% | -672.5% | -1888.8% | -5621.7% | -4410.9% | -6192.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -478.7% | -478.7% | -158.6% | -153.6% | -82.5% | -57.1% | -96.9% | -99.1% | -84.3% | — | — |
| ROA | -71.4% | -71.4% | -65.0% | -92.2% | -65.6% | -46.3% | -70.2% | -82.9% | -99.0% | -179.6% | -2530.1% |
| ROIC | -222.0% | -222.0% | -305.7% | — | -1228.5% | -120.5% | -104.3% | -96.1% | -69.8% | — | — |
| ROCE | -141.1% | -141.1% | -126.0% | -146.4% | -83.1% | -63.7% | -95.3% | -99.4% | -109.6% | -173.3% | — |
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 | — | — | 0.55 | 0.08 | 0.04 | 0.02 | 0.12 | 0.08 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | 0.09 | -1.30 | -1.00 | -0.93 | -0.06 | -0.46 | -0.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -22.29 | -22.29 | — | — | — | — | — | — | — | -4.06 | -19.46 |
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 | 1.02 | 1.02 | 1.78 | 1.76 | 3.01 | 6.84 | 4.26 | 2.90 | 10.28 | 6.38 | 0.12 |
| Quick Ratio | 0.88 | 0.88 | 1.60 | 1.49 | 2.72 | 6.60 | 4.11 | 2.80 | 10.00 | 6.33 | 0.11 |
| Cash Ratio | 1.02 | 1.02 | 1.31 | 1.27 | 2.51 | 6.32 | 3.84 | 2.63 | 9.69 | 6.07 | 0.10 |
| Asset Turnover | — | 1.72 | 1.23 | 1.00 | 0.35 | 0.13 | 0.11 | 0.07 | 0.01 | 0.02 | 0.41 |
| Inventory Turnover | 2.60 | 2.60 | 2.26 | 1.30 | 0.82 | 1.02 | 1.98 | 1.27 | 0.30 | 1.58 | 2.55 |
| Days Sales Outstanding | — | 11.70 | 19.81 | 16.33 | 17.04 | 29.33 | 28.25 | 75.76 | 98.37 | 46.42 | 35.49 |
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 | — | — | — | — | — | — | — | — | 100.0% | — | — |
| 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% | 100.0% | — | — |
| Shares Outstanding | — | $8M | $7M | $6M | $5M | $4M | $3M | $2M | $2M | $6M | $10M |
Liquidity and capital dilution
As reported in recent financial filings, ECOR trades at a price-to-sales multiple of 2.03, a valuation that appears to price in significant future market share expansion despite the company's persistent inability to generate positive net income or establish a clear path toward near-term profitability for investors.
The current P/S multiple suggests that the market is valuing the company primarily on its top-line growth trajectory rather than its current earnings power. Investors should monitor whether this valuation remains sustainable if the growth rate decelerates or if the company is forced to raise additional capital, which would likely dilute existing shareholders.
Based on reported figures, ECOR's ROIC has fluctuated significantly, reaching -192.8% in 2025Q4, which indicates that the company is currently destroying shareholder value rather than compounding it as it attempts to scale its proprietary neuromodulation technology within a highly competitive and capital-intensive medical device landscape.
The extreme volatility in return metrics suggests that the company's invested capital is not yet generating sufficient returns to cover the cost of its commercialization efforts. This trend warrants further investigation into whether the company can achieve a positive return on capital as it transitions from a growth-focused phase to a more mature operational state.
According to recent SEC filings, ECOR's cash conversion cycle has shown erratic behavior, swinging from -101 days in 2025Q3 to -25 days in 2026Q1, reflecting the inherent challenges in managing inventory and receivables within a business model that relies heavily on recurring digital refill revenue streams.
The fluctuation in the cash conversion cycle suggests that the company's working capital management is highly sensitive to the timing of government procurement cycles and consumer demand. This inconsistency complicates cash flow forecasting and highlights the operational risks associated with maintaining a specialized medical device fleet in the field.
As indicated by the company's financial statements, the debt-to-equity ratio has climbed to 3.80 in 2025Q2, signaling an increasing reliance on external financing to bridge the gap between operating cash outflows and the company's ambitious growth objectives in the highly competitive neuromodulation market segment.
The rising leverage profile, combined with the lack of positive EBITDA, suggests that the company's debt service capacity is currently non-existent. Investors should monitor the company's ability to refinance these obligations without resorting to further dilutive equity offerings, which could significantly impact the long-term value of existing shares.
While the 87.3% gross margin reported in 2026Q1 is impressive, it is frequently misapplied by investors as a proxy for overall business health, obscuring the reality that the company's high operating expenses and R&D requirements continue to drive significant net losses and persistent cash burn.
Investors should prioritize operating margin and free cash flow over gross margin, as the latter fails to account for the substantial commercialization costs required to maintain the company's market position. Relying on gross margin alone risks ignoring the structural challenges that prevent the company from achieving self-sustaining profitability.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying ECOR stock.
electroCore, Inc.'s current P/E ratio is -5.0x. This places it at the 50th percentile of its historical range.
electroCore, Inc.'s return on equity (ROE) is -478.7%. The historical average is -151.4%.
Based on historical data, electroCore, Inc. is trading at a P/E of -5.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
electroCore, Inc. has 86.8% gross margin and -41.1% operating margin.