Latest Ratios: P/E Ratio -32.3x · EV/EBITDA N/A · ROE -25.8%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.7B | $6.6B | $3.0B | $1.5B | $1.3B | $3.0B | $2.8B | — | — |
| Enterprise Value | $9.5B | $6.3B | $3.0B | $1.5B | $1.3B | $3.0B | $2.7B | — | — |
| P/E Ratio → | -32.31 | — | — | — | — | — | — | — | — |
| P/S Ratio | 248.34 | 167.51 | 64.14 | 18.91 | 28.75 | 41.83 | 81.17 | — | — |
| P/B Ratio | 6.37 | 4.16 | 3.61 | 3.76 | 2.75 | 6.63 | 9.73 | — | — |
| P/FCF | — | — | — | — | — | — | 34.95 | — | — |
| P/OCF | — | — | — | — | — | — | 31.35 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 160.50 | 63.45 | 18.59 | 27.66 | 41.42 | 80.79 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | 34.79 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 71.9% | — |
| Operating Margin | -891.3% | -891.3% | -555.8% | -210.6% | -344.4% | -138.0% | -136.1% | -1438.5% | — |
| Net Profit Margin | -794.4% | -794.4% | -475.6% | -187.0% | -330.6% | -137.6% | -134.0% | -1407.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -25.8% | -25.8% | -36.4% | -33.2% | -32.6% | -27.0% | -43.5% | — | — |
| ROA | -22.9% | -22.9% | -28.8% | -24.9% | -25.6% | -18.3% | -15.1% | -51.3% | -48.5% |
| ROIC | -24.9% | -24.9% | -33.5% | -30.7% | -27.8% | -21.5% | -49.0% | — | — |
| ROCE | -27.2% | -27.2% | -37.4% | -32.4% | -30.9% | -22.6% | -20.2% | -69.4% | -54.2% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | 0.11 | 0.21 | 0.04 | 0.04 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.17 | -0.04 | -0.06 | -0.10 | -0.07 | -0.05 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | -0.16 | -3.16 | — |
| Interest Coverage | -1250.50 | -1250.50 | -898.03 | -748.81 | -878.59 | -571.67 | -395.46 | -895.65 | -1340.69 |
Net cash position: cash ($357M) exceeds total debt ($82M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.47 | 10.47 | 7.53 | 4.73 | 5.88 | 4.88 | 2.73 | 2.69 | 8.92 |
| Quick Ratio | 10.47 | 10.47 | 7.53 | 4.73 | 5.88 | 4.88 | 2.73 | 2.69 | 8.92 |
| Cash Ratio | 10.19 | 10.19 | 7.21 | 4.37 | 5.71 | 4.78 | 2.68 | 2.66 | 8.80 |
| Asset Turnover | — | 0.02 | 0.05 | 0.14 | 0.08 | 0.12 | 0.07 | 0.03 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 7.34 | 87.14 | 19.78 | 0.68 | 15.37 | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | 2.9% | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $84M | $75M | $58M | $54M | $48M | $45M | $45M | $45M |
Clinical Milestone Funding Dependency
According to current market data, Kymera trades at a price-to-sales ratio of 225.18, a figure that appears to price in significant future success of the E3 ligase platform rather than reflecting the company's current, highly volatile, and non-commercial revenue stream derived from strategic pharmaceutical partnerships.
The extreme P/S multiple suggests that investors are valuing the company as a technology platform rather than a traditional biotech entity. This valuation implies that the market expects a high probability of success for the IRAK4 program, as any delay in clinical milestones could lead to a rapid contraction in these multiples.
Based on reported financial statements, Kymera’s ROIC has remained consistently negative, reaching -4.5% in 2026Q1, which highlights the company's ongoing struggle to generate positive returns on invested capital while it continues to fund expensive, long-term clinical development programs without a commercial product.
The persistent negative ROIC is a structural reality for a pre-revenue biotech, but the trend warrants monitoring as the company advances its pipeline. Investors should interpret these figures as a measure of the 'cost of discovery' rather than operational inefficiency, as the company is currently in a phase of heavy capital deployment.
As reported in recent SEC filings, Kymera maintains a current ratio of 10.81 as of 2026Q1, which appears to provide a substantial liquidity cushion, though this figure is heavily influenced by the timing of large, lumpy milestone payments from partners like Sanofi and Vertex.
While the high current ratio suggests a strong short-term position, the rapid fluctuation in cash balances indicates that liquidity is highly sensitive to clinical trial progress. The company's reliance on these external inflows means that any disruption in partnership milestones could quickly shift the liquidity profile from adequate to strained.
Investors frequently misapply traditional net margin and P/E ratios to Kymera, failing to account for the fact that these metrics are fundamentally distorted by the company's pre-revenue status and the lumpy, milestone-driven nature of its collaboration-based revenue recognition under ASC 606.
Using P/E or net margin to evaluate Kymera obscures the underlying operational reality, as these ratios do not capture the value of the proprietary E3 ligase pipeline. A more appropriate analytical framework would focus on cash burn per clinical program and the remaining cash runway, which provide a clearer picture of the company's ability to reach critical data readouts.
Includes 30+ ratios · 8 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 KYMR stock.
Kymera Therapeutics, Inc.'s current P/E ratio is -32.3x. This places it at the 50th percentile of its historical range.
Kymera Therapeutics, Inc.'s return on equity (ROE) is -25.8%. The historical average is -33.1%.
Based on historical data, Kymera Therapeutics, Inc. is trading at a P/E of -32.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Kymera Therapeutics, Inc. has 100.0% gross margin and -891.3% operating margin.