Latest Ratios: P/E Ratio -8.7x · EV/EBITDA N/A · ROE N/A. (2015–2025 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 | $460M | $429M | $685M | $599M | $421M | $324M | $113M | $344M | $290M | — | — |
| Enterprise Value | $561M | $530M | $728M | $663M | $442M | $253M | $149M | $330M | $214M | — | — |
| P/E Ratio → | -8.74 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.55 | 1.44 | 2.57 | 2.97 | 2.83 | 3.25 | 2.00 | 9.84 | — | — | — |
| P/B Ratio | — | — | 123.99 | — | 22.76 | 3.96 | — | 4.33 | — | — | — |
| 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 | — | 1.78 | 2.73 | 3.28 | 2.97 | 2.53 | 2.64 | 9.46 | — | — | — |
| 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 | 64.9% | 64.9% | 68.5% | 69.5% | 60.4% | 56.3% | 67.6% | 77.1% | — | — | — |
| Operating Margin | -12.7% | -12.7% | -12.9% | -24.4% | -44.0% | -44.6% | -270.7% | -283.3% | — | — | — |
| Net Profit Margin | -17.4% | -17.4% | -18.9% | -30.5% | -50.1% | -47.0% | -288.3% | -257.8% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | -913.1% | — | -148.3% | -1049.8% | -5016.6% | -113.3% | — | — | -819.6% |
| ROA | -22.5% | -22.5% | -23.9% | -33.6% | -34.2% | -20.1% | -72.5% | -43.7% | -28.9% | -3.9% | -25.3% |
| ROIC | -44.5% | -44.5% | -56.4% | -90.0% | -198.5% | -321.4% | -794.3% | -112.3% | — | -9.3% | -28.0% |
| ROCE | -23.5% | -23.5% | -22.2% | -36.2% | -39.4% | -38.8% | -125.0% | -51.7% | -87.0% | — | -84.3% |
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 | — | — | 23.54 | — | 4.02 | 0.91 | — | 1.22 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | 7.79 | — | 1.11 | -0.87 | — | -0.17 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.91 | -1.91 | -1.66 | -3.45 | -6.33 | -32.50 | -14.51 | -12.21 | -53.23 | — | — |
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 | 1.90 | 1.90 | 2.40 | 2.33 | 2.17 | 3.10 | 0.71 | 6.23 | 17.88 | 0.34 | 0.00 |
| Quick Ratio | 1.54 | 1.54 | 2.21 | 2.10 | 1.76 | 3.07 | 0.69 | 5.97 | 17.88 | 0.34 | 0.00 |
| Cash Ratio | 0.71 | 0.71 | 1.38 | 1.30 | 1.16 | 2.54 | 0.60 | 5.31 | 17.66 | — | — |
| Asset Turnover | — | 1.32 | 1.14 | 1.07 | 0.84 | 0.39 | 0.27 | 0.15 | — | — | — |
| Inventory Turnover | 3.87 | 3.87 | 6.91 | 5.60 | 3.12 | 24.71 | 5.46 | 1.25 | — | — | — |
| Days Sales Outstanding | — | 67.18 | 65.36 | 55.14 | 55.13 | 53.67 | 62.49 | 111.42 | — | — | — |
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% | 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% | — | — |
| Shares Outstanding | — | $64M | $62M | $57M | $56M | $50M | $34M | $28M | $24M | $24M | $19M |
Single-product revenue concentration
Based on current market data, Evolus trades at a price-to-sales multiple of 1.58, which appears to discount the company's lack of profitability and the significant competitive pressure from entrenched incumbents in the aesthetic neurotoxin market compared to the broader pharmaceutical sector's valuation premiums.
The negative P/E ratio of -8.91 highlights the company's ongoing struggle to achieve bottom-line profitability, suggesting that investors are currently pricing the stock based on speculative future scale rather than current earnings. The absence of a forward P/E or PEG ratio further indicates that the market lacks visibility into the timing of a transition toward sustainable GAAP earnings.
As reported in recent financial statements, the company's ROIC has remained consistently negative, reaching -6.6% in 2026Q1, which underscores a fundamental inability to generate returns on invested capital that exceed the cost of funding its aggressive sales and marketing expansion strategy.
The persistent negative ROIC trend, which bottomed at -21.8% in 2025Q1, suggests that the capital deployed into the Jeuveau brand is not yet creating economic value. This decay in returns reflects the high cost of customer acquisition in a market dominated by larger, more efficient competitors with established brand loyalty.
According to quarterly filings, the cash conversion cycle has exhibited significant instability, fluctuating between 56 and 91 days over the past two years, which indicates that management faces ongoing challenges in optimizing the timing of inventory procurement and the collection of receivables from aesthetic practices.
The asset turnover ratio, hovering near 0.33, remains low, confirming that the company's asset-light model is not translating into superior operational efficiency. Investors should monitor whether the recent shift toward a multi-product portfolio can improve these turnover metrics or if it will merely add further complexity to the working capital cycle.
Based on the latest balance sheet data, the current ratio of 2.04 in 2026Q1 masks a deteriorating cash position, as the company continues to burn through its reserves to fund operations while lacking the self-sustaining cash flow generation seen in more mature aesthetic peers.
While the current ratio appears adequate on the surface, the reliance on inventory and receivables to meet short-term obligations warrants caution, especially given the discretionary nature of the company's revenue. The quick ratio of 1.68 suggests that the company's liquidity is heavily dependent on the rapid liquidation of inventory, which may be difficult during periods of reduced consumer spending.
The price-to-sales ratio is frequently misapplied to Evolus, as it obscures the significant gross-to-net adjustments and settlement-related cash outflows that effectively act as a royalty on every vial sold, thereby overstating the company's true revenue quality and long-term margin potential.
Analysts should instead focus on net revenue per account and the contribution margin after accounting for all settlement payments and marketing-related rebates. Relying on top-line P/S multiples ignores the structural reality that a large portion of revenue is effectively pre-committed to legal settlements and partner royalties, limiting the company's operational flexibility.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying EOLS stock.
Evolus, Inc.'s current P/E ratio is -8.7x. This places it at the 50th percentile of its historical range.
Based on historical data, Evolus, Inc. is trading at a P/E of -8.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Evolus, Inc. has 64.9% gross margin and -12.7% operating margin.