Latest Ratios: P/E Ratio -2.4x · EV/EBITDA N/A · ROE -1653.1%. (2011–2025 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 | $147M | $83M | $100M | $66M | $45M | $226M | $239M | $75M | $8M | $237M | $137M |
| Enterprise Value | $132M | $68M | $66M | $21M | $-60635386 | $140M | $113M | $46M | $32M | $180M | $77M |
| P/E Ratio → | -2.38 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | 21620.91 |
| P/B Ratio | — | — | 5.44 | 2.30 | 0.39 | 1.78 | 1.51 | 1.28 | 0.63 | 4.74 | 2.34 |
| 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 | — | — | — | — | — | — | — | — | — | — | 12121.15 |
| 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 | — | — | — | — | — | — | — | — | — | — | -28529.7% |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | -653447.6% |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | -648744.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -1653.1% | -1653.1% | -424.4% | -131.3% | -100.0% | -65.0% | -40.5% | -98.4% | -132.8% | -96.0% | -58.2% |
| ROA | -299.4% | -299.4% | -211.2% | -102.8% | -90.2% | -60.6% | -37.7% | -86.1% | -110.1% | -83.7% | -53.5% |
| ROIC | — | — | — | — | -360.3% | -186.9% | -118.8% | -84.4% | -214.1% | — | — |
| ROCE | -1702.4% | -1702.4% | -406.3% | -137.6% | -98.6% | -63.8% | -44.9% | -103.8% | -134.3% | -96.9% | -58.5% |
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 | — | — | 0.05 | 0.05 | 0.01 | 0.01 | 0.01 | 0.01 | 2.99 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | -1.88 | -1.57 | -0.93 | -0.68 | -0.80 | -0.49 | 1.92 | -1.14 | -1.03 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -83.11 | — | — | -346.09 | — | — | — |
Net cash position: cash ($15M) exceeds total debt ($684000)
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 | 0.75 | 0.75 | 1.77 | 2.12 | 9.62 | 9.21 | 15.93 | 4.56 | 5.67 | 5.65 | 11.22 |
| Quick Ratio | 0.75 | 0.75 | 1.77 | 2.12 | 9.20 | 9.21 | 15.93 | 4.62 | 5.75 | 5.65 | 11.22 |
| Cash Ratio | 0.51 | 0.51 | 1.61 | 1.89 | 8.90 | 7.62 | 15.18 | 4.15 | 5.31 | 5.53 | 10.95 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | 0.00 |
| 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 | 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% | 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% | 0.0% | 0.0% |
| Shares Outstanding | — | $16M | $10M | $4M | $3M | $2M | $2M | $772227 | $105923 | $99648 | $78469 |
Imminent liquidity and dilution
Based on recent SEC filings, Immunic's current ratio deteriorated significantly to 0.75 in 2025Q4, down from a peak of 5.09 in 2024Q1, indicating that the company's liquid assets are no longer sufficient to cover its short-term obligations as it navigates the final stages of its clinical trials.
The rapid compression of the current ratio suggests that the company is exhausting its primary liquidity sources to fund ongoing Phase 3 ENSURE trials. Investors should monitor this trend closely, as a ratio below 1.0 implies that current liabilities now exceed current assets, heightening the risk of a near-term capital raise.
As reported in financial statements, Immunic's ROE has remained deeply negative, reaching -45.1% in 2026Q1, signaling a rapid depletion of resources that underscores the company's precarious financial trajectory as it attempts to fund its late-stage clinical development programs without any recurring revenue to offset the burn.
The persistent negative return on equity reflects the company's status as a pre-revenue entity where capital is consumed rather than compounded. This trend suggests that shareholders are currently funding the development of intellectual property that has yet to demonstrate a path to commercial viability or positive return on invested capital.
According to recent SEC filings, Immunic's accounts payable, represented by DPO figures as high as 28,840 days in 2026Q1, have been highly erratic, which complicates the assessment of the company's underlying cash consumption rate during its critical clinical trial phase.
The extreme DPO figures appear to be a byproduct of the company's specific accounting for clinical trial accruals rather than standard trade payables. This volatility suggests that traditional efficiency metrics are largely inapplicable to this business model and may obscure the actual timing of cash outflows to CROs.
As indicated by the provided data, the use of P/E or EV/EBITDA ratios is fundamentally misapplied to Immunic, as these metrics obscure the reality of a pre-revenue clinical-stage business by ignoring the value of the underlying pipeline and the necessity of non-cash warrant liability adjustments.
Investors should instead focus on cash runway and the probability-adjusted net present value of the lead asset, vidofludimus calcium. Relying on standard valuation multiples for a company with negative earnings and no revenue may lead to an inaccurate assessment of the company's true risk-adjusted potential.
Includes 30+ ratios · 15 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying IMUX stock.
Immunic, Inc.'s current P/E ratio is -2.4x. This places it at the 50th percentile of its historical range.
Immunic, Inc.'s return on equity (ROE) is -1653.1%. The historical average is -122.2%.
Based on historical data, Immunic, Inc. is trading at a P/E of -2.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.