Latest Ratios: P/E Ratio -1.0x · EV/EBITDA N/A · ROE -51.7%. (2012–2025 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 | $11M | $8M | $14M | $3M | $23M | $131M | $204M | $287M | $149M | $137M | $130M |
| Enterprise Value | $3M | $-243681 | $10M | $180840 | $17M | $123M | $203M | $283M | $141M | $130M | $126M |
| P/E Ratio → | -0.97 | — | 3.79 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | 0.85 | — | — | — | 16893.94 | 106.80 | 89.88 | 336.97 | 193.63 |
| P/B Ratio | 0.65 | 0.50 | 0.53 | 0.41 | 1.98 | 8.99 | 20.94 | 43.32 | 16.62 | — | — |
| P/FCF | — | — | 1.59 | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 1.59 | — | — | — | — | — | — | — | — |
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 | — | — | 0.62 | — | — | — | 16843.24 | 105.42 | 85.04 | 317.85 | 188.25 |
| EV / EBITDA | — | — | 2.18 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 1.74 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 1.15 | — | — | — | — | — | — | — | — |
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 | — | — | 100.0% | — | — | — | -27038.7% | 99.8% | -387.5% | -2434.9% | -1158.5% |
| Operating Margin | — | — | 28.2% | — | — | — | -56960.5% | -260.6% | -656.3% | -3572.7% | -1994.3% |
| Net Profit Margin | — | — | 22.5% | — | — | — | -56901.7% | -264.2% | -654.2% | -3243.5% | -1993.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -51.7% | -51.7% | 22.6% | -142.9% | -104.5% | -113.3% | -83.9% | -91.2% | -308.5% | — | -463.5% |
| ROA | -35.7% | -35.7% | 14.3% | -77.3% | -70.0% | -77.7% | -54.0% | -58.2% | -75.6% | -110.0% | -138.7% |
| ROIC | -47.6% | -47.6% | 26.2% | -202.8% | -147.9% | -133.0% | -85.5% | -271.6% | -868.3% | — | — |
| ROCE | -37.0% | -37.0% | 21.2% | -91.6% | -72.6% | -89.4% | -62.4% | -73.3% | -219.3% | -1537.1% | -313.7% |
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 | 0.02 | 0.02 | 0.00 | 0.02 | 0.01 | 0.01 | 0.06 | 0.01 | 0.00 | — | — |
| Debt / EBITDA | — | — | 0.01 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.52 | -0.14 | -0.38 | -0.51 | -0.52 | -0.06 | -0.56 | -0.90 | — | — |
| Net Debt / EBITDA | — | — | -0.82 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -0.44 | — | — | — | — | — | — | — | — |
| Interest Coverage | -473.91 | -473.91 | 264.91 | -1115.02 | -1591.82 | -2037.14 | -1792.97 | -21541.46 | -10311.86 | -11982.45 | -48520.59 |
Net cash position: cash ($9M) exceeds total debt ($368259)
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 | 5.99 | 5.99 | 4.94 | 2.90 | 2.35 | 5.59 | 0.87 | 3.06 | 2.19 | 0.57 | 0.57 |
| Quick Ratio | 5.99 | 5.99 | 4.94 | 2.90 | 2.35 | 5.59 | 0.87 | 3.06 | 2.19 | 0.57 | 0.57 |
| Cash Ratio | 4.71 | 4.71 | 4.46 | 1.50 | 1.82 | 4.88 | 0.60 | 2.67 | 2.07 | 0.53 | 0.50 |
| Asset Turnover | — | — | 0.44 | — | — | — | 0.00 | 0.27 | 0.12 | 0.03 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 13.71 | — | — | — | 2753.62 | 0.66 | 4.07 | 21.21 | 29.36 |
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 | — | — | 26.4% | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | 62.8% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $4M | $4M | $538007 | $732303 | $241099 | $114787 | $79525 | $59139 | $23766 | $14723 |
Imminent dilutive financing risk
According to recent financial data, Kiora trades at a price-to-book ratio of 0.65, which, based on reported figures, suggests the market assigns little value to the company's intellectual property beyond its current cash position, reflecting deep skepticism regarding the commercial viability of its photoswitch platform.
The P/B ratio below parity indicates that investors are pricing the company as a liquidation play rather than a growth-stage biotech. This valuation gap relative to peers like Nuvalent suggests that the market is heavily discounting the potential of KIO-301 due to the high probability of further equity dilution.
As reported in financial statements, Kiora's ROIC has trended into deeply negative territory, reaching -33.7% in 2026Q1, which underscores the company's inability to generate productive returns on invested capital while it remains in a pre-revenue, high-expenditure clinical development phase.
The persistent decay in ROIC reflects the structural challenge of funding long-term R&D without a commercial revenue stream to offset costs. This trend suggests that capital is being consumed to sustain operations rather than to build a compounding asset base, warranting caution regarding future capital allocation efficiency.
Based on the company's reported figures, the current ratio has fluctuated significantly, settling at 6.68 in 2026Q1, yet this metric masks the underlying reality that the firm's cash reserves are rapidly depleting to fund ongoing clinical trials without any offsetting revenue inflows.
While a current ratio of 6.68 appears superficially healthy, it is misleading for a clinical-stage entity with no revenue and high fixed R&D burn. Investors should monitor the absolute cash balance rather than liquidity ratios, as the current burn rate suggests a high likelihood of a capital raise in the near term.
As indicated by peer comparison data, Kiora's ROE of -16.1% in 2026Q1 compares unfavorably to the broader ophthalmic biotech group, highlighting a structural lag in operational performance that is likely tied to the company's earlier clinical stage and lack of non-dilutive funding sources.
The gap between Kiora and peers like Aldeyra Therapeutics suggests that the market perceives Kiora's pipeline as having a higher risk-to-reward profile. This divergence is likely structural, driven by the unproven nature of the photoswitch mechanism compared to more traditional therapeutic approaches utilized by competitors.
The current ratio is the most commonly misapplied metric for Kiora, as it obscures the company's true liquidity risk by treating all current assets as equally available, ignoring the fact that these assets are rapidly being consumed by non-discretionary clinical trial expenditures.
Analysts should instead focus on the 'cash burn rate' and 'months of runway' to assess financial health. Relying on the current ratio provides a false sense of security that fails to account for the binary nature of clinical-stage biotech funding requirements.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying KPRX stock.
Kiora Pharmaceuticals, Inc.'s current P/E ratio is -1.0x. The historical average is 3.8x.
Kiora Pharmaceuticals, Inc.'s return on equity (ROE) is -51.7%. The historical average is -147.5%.
Based on historical data, Kiora Pharmaceuticals, Inc. is trading at a P/E of -1.0x. Compare with industry peers and growth rates for a complete picture.