Latest Ratios: P/E Ratio -26.5x · EV/EBITDA N/A · ROE -34.2%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $4.6B | $2.6B | $2.5B | $697M | $479M | $756M | — | — |
| Enterprise Value | $4.6B | $2.5B | $2.4B | $616M | $462M | $741M | — | — |
| P/E Ratio → | -26.46 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | 8.50 | 4.89 | 5.37 | 2.19 | 1.38 | 2.76 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -34.2% | -34.2% | -34.4% | -30.1% | -21.8% | -35.5% | — | — |
| ROA | -32.3% | -32.3% | -32.4% | -28.3% | -20.7% | -20.6% | -21.9% | -38.7% |
| ROIC | -32.4% | -32.4% | -36.1% | -30.2% | -18.3% | -23.1% | — | — |
| ROCE | -38.7% | -38.7% | -40.4% | -33.9% | -22.9% | -21.5% | -22.9% | -42.4% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.11 | -0.08 | -0.25 | -0.05 | -0.06 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -17.83 | — | — | — |
Net cash position: cash ($61M) exceeds total debt ($4M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 19.85 | 19.85 | 19.93 | 19.50 | 21.53 | 26.97 | 29.86 | 21.24 |
| Quick Ratio | 19.85 | 19.85 | 19.93 | 19.50 | 21.53 | 26.97 | 29.86 | 21.24 |
| Cash Ratio | 19.37 | 19.37 | 19.71 | 18.98 | 21.22 | 26.69 | 29.73 | 20.89 |
| 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 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $103M | $92M | $64M | $54M | $50M | $49M | $49M |
Clinical trial funding dependency
According to recent market data, EWTX trades at a price-to-book ratio of 8.17, which, when compared to the broader biotechnology sector, suggests that investors are assigning a significant premium to the company's proprietary small-molecule platform rather than its current tangible asset base or historical earnings performance.
The absence of meaningful P/E or EV/EBITDA multiples underscores that the company's valuation is entirely driven by the probability-weighted success of its clinical pipeline. Investors appear to be pricing in a high-growth trajectory for EDG-5506, yet this valuation remains highly sensitive to any delays in the GRAND CANYON trial or shifts in the regulatory landscape for rare disease therapeutics.
As reported in quarterly financial statements, EWTX has consistently generated negative returns on invested capital, with ROIC hovering around -8.7% in 2026Q1, reflecting the inherent challenge of compounding value while the company remains in a pre-revenue, high-expenditure phase of its clinical development lifecycle.
The persistent negative ROIC is a structural feature of the business model rather than a sign of operational failure, as capital is being deployed into long-term R&D assets that have yet to reach commercialization. This trend warrants further investigation into whether the company can achieve a positive inflection point once its lead assets transition from clinical trials to market-ready products.
Based on the provided financial data, the company's current ratio has fluctuated significantly, dropping from 37.08 in 2024Q1 to 22.61 in 2026Q1, which indicates that while the firm maintains a high level of short-term liquidity, its cash runway is being rapidly consumed by intensive clinical trial activities.
The high current ratio is somewhat misleading as it reflects the accumulation of cash from previous equity raises rather than operational efficiency. Investors should monitor the rate of cash depletion, as the current liquidity position may necessitate further dilutive financing if the company does not reach a major clinical milestone or partnership agreement in the near term.
As indicated by the company's financial filings, the use of net margin or P/E ratios to evaluate EWTX is fundamentally flawed, as these metrics obscure the reality that the firm is currently prioritizing clinical development over the generation of accounting profits or positive cash flow from operations.
Analysts should instead focus on the quarterly cash burn rate and the progress of clinical biomarkers, as these are the true drivers of value for a pre-revenue biotechnology firm. Applying traditional valuation multiples to EWTX risks misinterpreting the company's financial health by focusing on accounting losses that are expected in the current stage of its business model.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying EWTX stock.
Edgewise Therapeutics, Inc.'s current P/E ratio is -26.5x. This places it at the 50th percentile of its historical range.
Edgewise Therapeutics, Inc.'s return on equity (ROE) is -34.2%. The historical average is -31.2%.
Based on historical data, Edgewise Therapeutics, Inc. is trading at a P/E of -26.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.