Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -91.0%. (2018–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $36M | $71M | $106M | $228M | $399M | $773M | — | — |
| Enterprise Value | $53M | $88M | $138M | $217M | $104M | $710M | — | — |
| P/E Ratio → | -0.27 | — | — | — | — | — | — | — |
| P/S Ratio | 1.81 | 3.55 | 18.02 | — | — | — | — | — |
| P/B Ratio | 0.41 | 0.82 | 0.52 | 0.81 | 1.04 | 2.88 | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 4.42 | 23.35 | — | — | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | — | — | — | — | 100.0% |
| Operating Margin | -715.8% | -715.8% | -2346.9% | — | — | — | — | -103594.4% |
| Net Profit Margin | -661.9% | -661.9% | -2144.5% | — | — | — | — | -99452.8% |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| ROE | -91.0% | -91.0% | -52.1% | -41.1% | -36.7% | -95.1% | — | — |
| ROA | -43.5% | -43.5% | -33.7% | -32.0% | -30.9% | -47.9% | -96.0% | -42.9% |
| ROIC | -63.2% | -63.2% | -41.1% | -59.1% | -61.1% | -133.0% | — | — |
| ROCE | -53.6% | -53.6% | -40.0% | -34.6% | -32.2% | -51.4% | -113.3% | -48.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.09 | 1.09 | 0.48 | 0.29 | 0.21 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.20 | 0.15 | -0.04 | -0.77 | -0.23 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | -31.08 | -2382.02 | -137.25 | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.50 | 5.50 | 6.83 | 14.99 | 20.16 | 23.86 | 1.98 | 11.74 |
| Quick Ratio | 5.50 | 5.50 | 6.83 | 14.99 | 20.16 | 23.86 | 1.98 | 11.74 |
| Cash Ratio | 5.28 | 5.28 | 6.62 | 14.57 | 19.95 | 23.38 | 1.65 | 11.42 |
| Asset Turnover | — | 0.09 | 0.02 | — | — | — | — | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 28.61 | 256.44 | — | — | — | — | 13058.89 |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|
| 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 | — | $7M | $6M | $6M | $6M | $3M | $5M | $2M |
Liquidity and clinical dependency
Based on reported figures, GBIO trades at a price-to-sales ratio of 1.81, which appears to discount the company's long-term platform potential in favor of its current, highly volatile revenue stream derived from limited, project-based collaboration milestones rather than sustainable, recurring commercial product sales.
The current P/S multiple suggests that the market is pricing the company as a speculative research entity rather than a commercial-stage biotechnology firm. Investors should monitor whether this valuation remains compressed relative to peers like Krystal Biotech, as the current discount may reflect skepticism regarding the scalability of the ctLNP delivery platform.
According to historical financial data, GBIO's ROIC has remained consistently negative, reaching -22.2% in 2025Q3, which indicates that the company is currently destroying shareholder value as it aggressively deploys capital into unproven, high-cost genetic medicine research programs without generating offsetting operational returns.
The persistent negative return on invested capital highlights the structural challenge of the company's pre-commercial business model. This trend suggests that until the company achieves clinical proof-of-concept, capital allocation will likely continue to yield negative returns, necessitating further external funding to sustain operations.
As reported in recent SEC filings, the company's asset turnover ratio remains extremely low at 0.01, reflecting a business model that is currently devoid of meaningful revenue-generating assets and is instead focused on the long-term development of proprietary non-viral genetic medicine delivery technologies.
The lack of meaningful asset turnover is typical for early-stage biotech, yet it underscores the company's total reliance on external capital. The volatility in DSO and DPO metrics further suggests that the company's working capital cycle is dictated by the timing of collaboration milestones rather than operational efficiency.
Based on the 2025Q3 balance sheet, the company's current ratio of 4.44, while appearing superficially healthy, masks a rapid depletion of cash reserves that suggests the company may face significant liquidity constraints within the next 12 to 18 months without additional capital injections.
While the current ratio remains above 4.0, the absolute decline in cash and equivalents indicates that the company's liquidity position is deteriorating rapidly. Investors should monitor the cash burn rate closely, as the current trajectory suggests that the company's ability to fund its R&D pipeline is becoming increasingly precarious.
Analysts frequently misapply the price-to-sales ratio to GBIO, which obscures the fact that current revenue is merely an accounting recognition of deferred collaboration payments rather than a reflection of market demand for a commercialized genetic medicine product or a sustainable, recurring revenue stream.
Using P/S as a primary valuation tool for this business model is misleading because it ignores the underlying cash-depleting nature of the R&D-heavy cost structure. A more appropriate metric for this stage would be the cash runway or the enterprise value relative to the number of clinical-stage programs in the pipeline.
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Quick answers to the most common questions about buying GBIO stock.
Generation Bio Co.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Generation Bio Co.'s return on equity (ROE) is -91.0%. The historical average is -63.2%.
Based on historical data, Generation Bio Co. is trading at a P/E of -0.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Generation Bio Co. has 100.0% gross margin and -715.8% operating margin.