Latest Ratios: P/E Ratio -0.8x · EV/EBITDA N/A · ROE -53.3%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $98M | $369M | $395M | — | — | — |
| Enterprise Value | $79M | $350M | $247M | — | — | — |
| P/E Ratio → | -0.83 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | 0.58 | 2.20 | 1.45 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -53.3% | -53.3% | -32.0% | -100.0% | -19.2% | -18.4% |
| ROA | -44.0% | -44.0% | -27.7% | -91.2% | -18.6% | -17.8% |
| ROIC | -67.4% | -67.4% | -74.5% | -24.4% | -10.1% | — |
| ROCE | -50.7% | -50.7% | -32.9% | -24.5% | -14.8% | -12.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.19 | 0.19 | 0.09 | 0.13 | 0.25 | 0.03 |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.11 | -0.54 | -0.99 | -0.00 | -0.01 |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | -38.18 | -38.18 | -18.71 | -19.17 | -16.17 | -3.67 |
Net cash position: cash ($50M) exceeds total debt ($32M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 6.30 | 6.30 | 16.87 | 16.25 | 0.57 | 4.79 |
| Quick Ratio | 6.30 | 6.30 | 16.87 | 16.25 | 0.57 | 4.79 |
| Cash Ratio | 6.06 | 6.06 | 16.26 | 15.52 | 0.35 | 3.27 |
| 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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $51M | $45M | $24M | $16M | $16M |
Clinical trial funding shortfall
As reported in recent financial filings, enGene's P/B ratio of 0.53 suggests a significant valuation discount compared to commercial-stage peers like Krystal Biotech, reflecting the market's skepticism regarding the company's ability to successfully navigate the LEGEND trial and achieve a viable commercial product launch.
The current valuation multiple appears to be heavily influenced by the company's pre-revenue status and the inherent binary risk associated with its lead candidate, EG-70. Investors should monitor whether this discount persists as clinical data readouts approach, as the market may be pricing in a high probability of further dilutive equity raises.
Based on the company's reported figures, the ROIC has fluctuated significantly, reaching 8.9% in 2026Q2 after a period of deep negative returns, which highlights the volatility inherent in funding long-term R&D projects without a stable revenue base to offset the high cost of capital.
The erratic nature of these returns suggests that the company is not yet compounding value, but rather managing a burn-heavy development cycle. The recent positive ROIC reading warrants further investigation, as it likely stems from non-operating accounting adjustments rather than an improvement in the underlying efficiency of the DDX platform.
According to the provided quarterly data, the current ratio has declined from a peak of 42.80 in 2024Q2 to 12.57 in 2026Q2, indicating that while the company maintains a nominal liquidity cushion, the rapid depletion of cash reserves is accelerating as clinical trial expenses intensify.
The high current ratio is somewhat misleading for a pre-revenue biotech, as it primarily reflects the remaining proceeds from previous capital raises rather than operational liquidity. The company's reliance on these dwindling cash reserves to fund the LEGEND trial suggests that its ability to withstand further clinical delays is increasingly constrained.
As indicated by the company's financial statements, the use of P/E ratios is fundamentally inappropriate for enGene, as the firm's negative earnings and lack of revenue render traditional valuation multiples meaningless for assessing the true intrinsic value of its proprietary DDX gene delivery platform.
Investors should instead focus on the cash runway and the probability-weighted net present value of the EG-70 pipeline. Relying on P/E or EBITDA-based metrics obscures the reality that the company's value is derived entirely from future clinical milestones rather than current operational profitability.
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Quick answers to the most common questions about buying ENGN stock.
enGene Holdings Inc.'s current P/E ratio is -0.8x. This places it at the 50th percentile of its historical range.
enGene Holdings Inc.'s return on equity (ROE) is -53.3%. The historical average is -44.6%.
Based on historical data, enGene Holdings Inc. is trading at a P/E of -0.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.