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May 19, 2026·SEC
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Eton Pharmaceuticals, Inc.(ETON)Earnings, Financials & Key Ratios
ETON•NASDAQ
$38.02
Price updated Jul 6, 2026
AboutEton Pharmaceuticals, Inc., a specialty pharmaceutical company, focuses on developing and commercializing pharmaceutical products for rare diseases. The company offers Biorphen, a phenylephrine injection for the treatment of clinically important hypotension resulting primarily from vasodilation in the setting of anesthesia; Carglumic Acid for the treatment of acute and chronic hyperammonemia due to N-acetylglutamate Synthase deficiency; and Rezipres, a ready-to-use formulation of a molecule that is indicated for the treatment of clinically important hypotension occurring in the setting of anesthesia. It also offers Alkindi Sprinkle, a replacement therapy for adrenocortical insufficiency in children under 17 years of age; EPRONTIA, a liquid formulation of topiramate; and Alaway Preservative Free, a preservative-free ophthalmic product to treat allergic conjunctivitis. In addition, the company develops Zonisamide Oral Suspension for the treatment of partial on-set seizures; Lamotrigine for Oral Suspension for the treatment of partial on-set seizures; cysteine injection; dehydrated alcohol injection; and Zeneo hydrocortisone autoinjector. Eton Pharmaceuticals, Inc. was incorporated in 2017 and is based in Deer Park, Illinois.Show more
- Revenue$80M+104.9%
- EBITDA$4M+383.7%
- Net Income-$5M-20.4%
- EPS (Diluted)-0.17-13.3%
- Gross Margin53.46%-10.9%
- EBITDA Margin5.15%+238.4%
- Operating Margin0.09%+101.4%
- Net Margin-5.75%+41.3%
- ROE-18.19%+5.1%
ETON Price & Volume
Eton Pharmaceuticals, Inc. (ETON) stock price & volume — 10-year historical chart
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Orphan Drug Pivot Drives Revenue Growth Inflection
Investment Thesis • Updated 2026Q1
VerdictNeutral
Growth:Accelerating
Profitability:Strained
Financial:Mixed
Cash Flow:Mixed
Primary Risk:Orphan drug regulatory dependency
Key Thesis Takeaways
- Eton Pharmaceuticals is currently navigating a critical transition toward a self-sustaining commercial model, evidenced by a 40.4% year-over-year revenue increase in 2026Q1.
- While the company has achieved a positive operating income of $2.4 million, investors should remain cautious regarding the sustainability of this growth given the $110.9 million accumulated deficit and the reliance on inorganic expansion, as indicated by goodwill rising to $43.7 million.
- Future performance will likely depend on the company's ability to manage its volatile gross margins, which fluctuated from 35.0% in 2025Q3 to 60.7% in 2026Q1, while maintaining liquidity amidst narrowing current ratios.
Verdict Logic
while the company reached a positive operating income of $2.4 million in 2026Q1, the high P/S ratio of 12.23 and the persistent $110.9 million accumulated deficit suggest that the current valuation may be pricing in significant future success that remains unproven.
ETON Growth Metrics
Eton Pharmaceuticals, Inc. (ETON) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years359.57%
3 Years55.53%
TTM79.89%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM67.82%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM65.41%
Return on Capital
10 Years-44.88%
5 Years-12.1%
3 Years-4.7%
Last Year0.13%
ETON Recent Earnings
Eton Pharmaceuticals, Inc. (ETON) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 4/12 qtrs (33%)●Beat Revenue 6/12 qtrs (50%)
Q2 2026Latest
May 14, 2026Metric
Actual
Est
EPS
$0.05-50.0%
$0.10
Rev
$24M+8.8%
$22M
Q2 2026
Mar 19, 2026Metric
Actual
Est
EPS
$0.05-58.3%
$0.12
Rev
$21M+6.5%
$20M
Q4 2025
Nov 6, 2025Metric
Actual
Est
EPS
$0.07-143.8%
$0.16
Rev
$22M+9.7%
$20M
Q3 2025
Aug 7, 2025Metric
Actual
Est
EPS
$0.10-900.0%
$0.01
Rev
$19M-7.6%
$20M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 14, 2026 | $0.05vs $0.10-50.0% | $24Mvs $22M+8.8% |
| Q2 2026 | Mar 19, 2026 | $0.05vs $0.12-58.3% | $21Mvs $20M+6.5% |
| Q4 2025 | Nov 6, 2025 | $0.07vs $0.16-143.8% | $22Mvs $20M+9.7% |
| Q3 2025 | Aug 7, 2025 | $0.10vs $0.01-900.0% | $19Mvs $20M-7.6% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Eton Pharmaceuticals, Inc. (ETON)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $38.02 | $1.04B | -223.65 | 104.94% | -5.75% | -18.19% | — | |
| $313.50 | $9.06B | -23.26 | -100% | — | -43.02% | — | |
| $21.64 | $2.1B | -42.43 | 504.79% | -0.11% | -0.33% | — | |
| $4.38 | $510.37M | -0.13 | 4.84% | -252.55% | -136.55% | — | |
| $97.12 | $650.61M | -52.50 | — | — | -12.84% | — | |
| $1.54 | $33.77M | -0.47 | — | — | -1335.64% | — |
Compare ETON vs Peers
Eton Pharmaceuticals, Inc. (ETON) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ETON SEC Filings & Documents
Eton Pharmaceuticals, Inc. (ETON) SEC filings — annual & quarterly reports (10-K, 10-Q)
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ETON Frequently Asked Questions
Eton Pharmaceuticals, Inc. (ETON) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Eton Pharmaceuticals, Inc.'s revenue?
Eton Pharmaceuticals, Inc. (ETON) reported $86.9M in revenue for fiscal year 2025.
How fast is Eton Pharmaceuticals, Inc. growing?
Eton Pharmaceuticals, Inc. (ETON) grew revenue by 104.9% over the past year. This is strong growth.
Is ETON profitable?
Eton Pharmaceuticals, Inc. (ETON) reported a net loss of $1.5M for fiscal year 2025.
Dividend & Returns
What is ETON's return on equity?
Eton Pharmaceuticals, Inc. (ETON) has a return on equity (ROE) of -18.2%. Negative ROE indicates the company is unprofitable.
What is Eton Pharmaceuticals, Inc.'s free cash flow?
Eton Pharmaceuticals, Inc. (ETON) generated $15.4M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.