Latest Ratios: P/E Ratio -6.1x · EV/EBITDA N/A · ROE -97.3%. (1997–2025 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 | $178M | $123M | $82M | $195M | $367M | $194M | $151M | $131M | $54M | $83M | $96M |
| Enterprise Value | $189M | $133M | $66M | $160M | $313M | $157M | $137M | $119M | $41M | $68M | $77M |
| P/E Ratio → | -6.10 | — | — | — | — | 267.41 | — | 87.03 | — | — | 25.23 |
| P/S Ratio | 2.52 | 1.74 | 1.29 | 3.23 | 6.65 | 4.41 | 3.62 | 2.92 | 1.37 | 2.33 | 2.70 |
| P/B Ratio | 9.17 | 6.35 | 2.01 | 3.43 | 5.12 | 3.88 | 5.74 | 4.80 | 2.15 | 3.30 | 3.94 |
| P/FCF | — | — | — | — | — | 69.39 | 91.42 | 55.85 | — | — | — |
| P/OCF | — | — | — | — | — | 43.69 | 66.87 | 34.53 | 306.55 | — | 86.08 |
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 | — | 1.89 | 1.04 | 2.65 | 5.68 | 3.56 | 3.29 | 2.65 | 1.04 | 1.90 | 2.16 |
| EV / EBITDA | — | — | — | — | — | 509.85 | 57.76 | 29.16 | 195.57 | — | 52.55 |
| EV / EBIT | — | — | — | — | — | — | 511.61 | 50.50 | 312.44 | — | 17.13 |
| EV / FCF | — | — | — | — | — | 56.10 | 83.18 | 50.65 | — | — | — |
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 | 42.5% | 42.5% | 41.4% | 40.4% | 43.9% | 41.8% | 44.1% | 46.8% | 43.2% | 41.4% | 46.1% |
| Operating Margin | -35.6% | -35.6% | -32.0% | -32.8% | -7.7% | -3.7% | 0.6% | 4.9% | -3.4% | -5.7% | 1.1% |
| Net Profit Margin | -41.5% | -41.5% | -29.7% | -35.0% | -5.3% | 1.6% | -4.1% | 3.4% | -0.9% | -1.9% | 10.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -97.3% | -97.3% | -38.9% | -32.9% | -4.8% | 1.8% | -6.4% | 5.8% | -1.3% | -2.7% | 19.8% |
| ROA | -35.5% | -35.5% | -21.4% | -22.0% | -3.3% | 1.1% | -3.1% | 3.0% | -0.7% | -1.5% | 9.0% |
| ROIC | -69.2% | -69.2% | -65.7% | -74.8% | -20.8% | -9.5% | 1.5% | 12.1% | -8.9% | -20.1% | 5.8% |
| ROCE | -56.0% | -56.0% | -36.6% | -27.6% | -6.1% | -3.5% | 0.8% | 6.5% | -4.2% | -6.5% | 1.5% |
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 | 1.43 | 1.43 | 0.34 | 0.15 | 0.13 | 0.20 | 0.42 | 0.32 | 0.27 | 0.19 | 0.11 |
| Debt / EBITDA | — | — | — | — | — | 32.48 | 4.68 | 2.12 | 32.24 | — | 1.88 |
| Net Debt / Equity | — | 0.53 | -0.39 | -0.62 | -0.75 | -0.74 | -0.52 | -0.45 | -0.51 | -0.61 | -0.79 |
| Net Debt / EBITDA | — | — | — | — | — | -120.71 | -5.72 | -3.00 | -60.76 | — | -13.11 |
| Debt / FCF | — | — | — | — | — | -13.28 | -8.24 | -5.20 | — | — | — |
| Interest Coverage | -31.85 | -31.85 | -78.36 | -87.50 | -11.48 | -30.98 | 2.48 | 14.28 | 1.18 | -5.66 | 78.96 |
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 | 1.54 | 1.54 | 1.85 | 2.84 | 4.17 | 3.75 | 2.11 | 2.41 | 2.40 | 2.46 | 2.70 |
| Quick Ratio | 1.25 | 1.25 | 1.36 | 2.30 | 3.63 | 3.34 | 1.74 | 1.94 | 1.97 | 2.05 | 2.16 |
| Cash Ratio | 0.47 | 0.47 | 0.79 | 1.58 | 2.91 | 2.63 | 1.15 | 1.19 | 1.16 | 1.24 | 1.46 |
| Asset Turnover | — | 0.90 | 0.74 | 0.66 | 0.54 | 0.57 | 0.75 | 0.85 | 0.80 | 0.76 | 0.76 |
| Inventory Turnover | 3.72 | 3.72 | 2.03 | 2.38 | 2.62 | 3.42 | 2.91 | 2.92 | 3.09 | 3.11 | 2.39 |
| Days Sales Outstanding | — | 116.52 | 115.51 | 102.46 | 98.96 | 100.39 | 93.22 | 92.06 | 114.05 | 118.11 | 95.74 |
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 | — | — | — | — | — | 0.4% | — | 1.1% | — | — | 4.0% |
| FCF Yield | — | — | — | — | — | 1.4% | 1.1% | 1.8% | — | — | — |
| 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 | — | $37M | $37M | $37M | $34M | $32M | $29M | $30M | $29M | $29M | $29M |
Rapid liquidity depletion
According to current market data, EDAP trades at a price-to-sales multiple of 2.52, which appears to discount the company's inability to achieve consistent profitability while simultaneously pricing in a high-growth trajectory that remains contingent on successful US market penetration and broader clinical adoption of Focal One.
The lack of a meaningful P/E or EV/EBITDA multiple highlights that the market is currently valuing the firm as a speculative growth asset rather than a mature medical device manufacturer. Investors should monitor whether this valuation premium holds if the company is forced to dilute shareholders to bridge its current funding gap.
As reported in recent financial statements, EDAP's ROIC has consistently languished in negative territory, reaching -40.9% in 2026Q1, which suggests that the company is currently destroying shareholder value rather than compounding it through its heavy investment in US-based sales and clinical support infrastructure.
The persistent decay in returns on invested capital indicates that the company's current business model is not yet generating sufficient operating income to justify the capital deployed. This trend warrants further investigation into whether the core HIFU segment can eventually achieve the margins necessary to reverse this structural value destruction.
Based on the provided quarterly data, EDAP's cash conversion cycle has shown extreme volatility, peaking at 159 days in 2025Q1, which suggests that the company struggles to manage its inventory and receivables effectively compared to more established peers in the medical device sector.
The high days sales outstanding and inventory levels imply that the company may be facing friction in its sales cycle or holding excess stock to support its US expansion. This inefficiency ties up critical cash reserves that are already under significant pressure from ongoing operating losses.
As indicated by recent financial filings, the company's current ratio has deteriorated from 2.84 in 2023Q4 to 1.34 in 2026Q1, signaling a tightening window of operational flexibility as cash reserves are depleted to fund the company's aggressive and loss-making US market expansion strategy.
The rapid decline in liquidity suggests that the company may soon face a binary outcome regarding its ability to fund operations without external capital. Investors should monitor the quick ratio closely, as the reliance on inventory liquidation to meet short-term obligations appears to be increasing.
The price-to-sales ratio is the most commonly misapplied metric for EDAP, as it obscures the dilutive impact of the low-margin Distribution segment and fails to account for the high cash burn required to support the core HIFU technology's long-term adoption in the US market.
Analysts should instead focus on the contribution margin of the HIFU segment and the burn rate relative to cash on hand. Relying on top-line multiples may lead to an overestimation of the company's intrinsic value by ignoring the significant capital intensity required to reach a sustainable break-even point.
Includes 30+ ratios · 29 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying EDAP stock.
Edap Tms S.a.'s current P/E ratio is -6.1x. The historical average is 24.8x.
Edap Tms S.a.'s return on equity (ROE) is -97.3%. The historical average is -20.4%.
Based on historical data, Edap Tms S.a. is trading at a P/E of -6.1x. Compare with industry peers and growth rates for a complete picture.
Edap Tms S.a. has 42.5% gross margin and -35.6% operating margin.