Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -6595.0%. (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 | $781126 | $48M | $672M | $13.0B | $4.7B | $2.8B | $4.9B | — | — |
| Enterprise Value | $-5415874 | $62M | $666M | $13.1B | $4.7B | $2.8B | $4.8B | — | — |
| P/E Ratio → | -0.31 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.51 | 120.22 | 438.05 | 8375.26 | 3482.76 | 9933.23 | — | — | — |
| P/B Ratio | 2.47 | — | 57.96 | 145.93 | 58.78 | 82.50 | 65.73 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 156.31 | 434.01 | 8378.16 | 3461.94 | 9777.81 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -10318.9% | — | — | 100.0% |
| Operating Margin | -7794.5% | -7794.5% | -6280.8% | -4308.1% | -4131.0% | -15303.5% | — | — | -583.5% |
| Net Profit Margin | -7266.1% | -7266.1% | -6090.9% | -4023.1% | -4055.6% | -15267.7% | — | — | -484.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -6595.0% | -6595.0% | -185.0% | -73.7% | -96.1% | -80.0% | -54.1% | -222.5% | — |
| ROA | -56.5% | -56.5% | -89.4% | -49.6% | -67.1% | -64.1% | -46.2% | -80.9% | -23.8% |
| ROIC | -514.4% | -514.4% | -145.5% | -68.8% | -199.2% | — | -1046.3% | — | — |
| ROCE | -77.3% | -77.3% | -109.0% | -61.4% | -85.2% | -77.5% | -51.8% | -99.7% | -31.0% |
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 | — | — | 2.97 | 0.30 | 0.05 | 0.04 | 0.03 | 0.45 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | -0.53 | 0.05 | -0.35 | -1.29 | -0.97 | -0.88 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — |
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 | 1.71 | 1.71 | 3.41 | 5.35 | 6.97 | 2.63 | 15.54 | 1.94 | 12.72 |
| Quick Ratio | 1.71 | 1.71 | 3.41 | 5.35 | 6.97 | 2.63 | 15.54 | 1.94 | 12.72 |
| Cash Ratio | 1.67 | 1.67 | 3.21 | 5.24 | 6.77 | 2.51 | 15.27 | 1.88 | 12.19 |
| Asset Turnover | — | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 | — | — | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | 49.00 |
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 | — | — | — | — | — | — | — | — | — |
| 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 | — | $16M | $65M | $50M | $30M | $13M | $9M | $8M | $6M |
Imminent insolvency and dilution
According to recent market data, Lyra's price-to-sales ratio of 0.51 suggests that the market has largely abandoned the company's growth narrative, pricing the equity as a distressed asset rather than a viable biotechnology entity following the failure of its lead clinical program to meet primary endpoints.
The current valuation multiples are largely irrelevant in a traditional sense, as the lack of recurring revenue renders P/E and EV/EBITDA metrics meaningless. Investors appear to be assigning minimal terminal value to the XTreo platform, implying that the market views the company's remaining assets as potentially insufficient to cover existing liabilities.
Based on reported financial statements, Lyra's ROIC has plummeted to -130.0% in 2025Q4, illustrating a severe and accelerating decay in the company's ability to generate returns on invested capital as it continues to exhaust its remaining resources on unsuccessful clinical development efforts.
The consistent negative ROIC trend over the last ten quarters confirms that the company is not merely in a growth phase, but is actively destroying shareholder value through high-cost R&D that has failed to yield a commercialized product. This trajectory suggests that any further capital deployment is unlikely to generate positive returns without a fundamental change in the underlying business model.
As reported in recent regulatory filings, the company's current ratio has compressed to 1.71 in 2025Q4, a significant decline from the 5.35 observed in 2023Q3, which indicates a rapidly narrowing margin of safety for meeting short-term obligations as cash reserves are depleted by ongoing operating losses.
The deterioration in liquidity metrics highlights the company's inability to sustain its current burn rate without immediate external financing. Given the negative equity position, the company's reliance on cash reserves to fund operations suggests that the risk of a liquidity-driven insolvency event is high and warrants close monitoring by stakeholders.
Investors frequently misapply price-to-sales ratios to Lyra, which obscures the reality that current revenue is derived from non-recurring licensing milestones rather than sustainable product sales, thereby creating a false sense of commercial viability that ignores the company's underlying structural inability to generate recurring cash flow.
Using P/S as a valuation anchor for a clinical-stage biotech is fundamentally flawed because it treats milestone payments as a proxy for market adoption. A more appropriate analytical framework would focus on the cash-burn-to-runway ratio, which better captures the company's true financial risk and the urgency of its need for dilutive capital.
Includes 30+ ratios · 8 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying LYRA stock.
Lyra Therapeutics, Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Lyra Therapeutics, Inc.'s return on equity (ROE) is -6595.0%. The historical average is -118.6%.
Based on historical data, Lyra Therapeutics, Inc. 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.
Lyra Therapeutics, Inc. has 100.0% gross margin and -7794.5% operating margin.