Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -44.7%. (2021–2025 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 |
|---|---|---|---|---|---|---|
| Market Cap | $50M | $60M | $135M | — | — | — |
| Enterprise Value | $49M | $59M | $153M | — | — | — |
| P/E Ratio → | -0.56 | — | — | — | — | — |
| P/S Ratio | 1.97 | 2.39 | 2.58 | — | — | — |
| P/B Ratio | 0.31 | 0.38 | 0.58 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.35 | 2.93 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|
| Gross Margin | 78.9% | 78.9% | 100.0% | -110.9% | 89.9% | -59.3% |
| Operating Margin | -380.9% | -380.9% | -170.0% | -175.4% | -259.5% | -9854.7% |
| Net Profit Margin | -348.5% | -348.5% | -149.3% | -152.5% | -253.4% | -8823.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| ROE | -44.7% | -44.7% | -34.7% | -97.0% | — | — |
| ROA | -32.2% | -32.2% | -22.6% | -17.5% | -15.7% | -15.1% |
| ROIC | -35.1% | -35.1% | -35.5% | -47.9% | — | — |
| ROCE | -39.6% | -39.6% | -30.5% | -23.7% | -18.5% | -20.5% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Debt / Equity | 0.26 | 0.26 | 0.19 | 0.22 | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.01 | 0.08 | -0.43 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | -10.53 | 0.45 |
| Interest Coverage | — | — | — | — | -417.61 | -70.00 |
Net cash position: cash ($42M) exceeds total debt ($41M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Current Ratio | 7.22 | 7.22 | 6.91 | 4.04 | 7.56 | 4.33 |
| Quick Ratio | 7.22 | 7.22 | 6.91 | 4.04 | 7.56 | 4.33 |
| Cash Ratio | 7.01 | 7.01 | 6.66 | 3.94 | 7.46 | 4.30 |
| Asset Turnover | — | 0.11 | 0.16 | 0.12 | 0.04 | 0.00 |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | 4.42 | 8.77 | 19.99 | 27.04 | 736.01 |
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 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $37M | $37M | $37M | $37M | $6M |
Liquidity and capital exhaustion
Based on reported figures, MGX trades at a P/S ratio of 1.87, which appears to reflect a significant platform discount compared to peers, likely driven by the recent termination of key strategic collaborations and the resulting uncertainty regarding future milestone-based revenue generation and long-term clinical viability.
The current valuation multiple suggests that the market is heavily discounting the company's proprietary discovery engine, viewing it more as a distressed asset than a high-growth biotech platform. Investors should monitor whether this valuation floor holds as the company approaches a potential need for dilutive capital to extend its limited runway.
As reported in financial statements, MGX has consistently generated negative ROIC, reaching -11.9% in 2026Q1, which underscores the company's inability to deploy invested capital into projects that generate returns exceeding the cost of the specialized computational infrastructure and high-tier scientific talent required for metagenomic discovery.
The persistent decay in return on capital suggests that the company's current business model is fundamentally value-destructive in its pre-commercial state. Without a transition to proprietary product sales or more efficient partnership structures, the company appears to be consuming shareholder equity to fund research that has yet to yield a commercial return.
According to recent SEC filings, MGX's asset turnover remains extremely low at 0.01 in 2026Q1, highlighting the company's struggle to convert its substantial research-related assets into meaningful revenue, a trend exacerbated by the lumpy and unpredictable nature of its project-based collaboration income streams.
The erratic nature of the company's DPO and DSO metrics suggests a lack of operational leverage and a reliance on irregular milestone payments. This inefficiency in working capital management implies that the company lacks the bargaining power or operational scale to stabilize its cash conversion cycle.
Based on the latest quarterly data, MGX maintains a current ratio of 6.43, yet this figure masks a precarious reality as the company's cash reserves have plummeted to $41.7M, leaving it increasingly vulnerable to operational shocks and the high costs of maintaining its discovery platform.
While the current ratio appears superficially healthy, it is heavily influenced by the rapid depletion of cash relative to ongoing operating losses. The company's liquidity position warrants further investigation, as the current burn rate suggests that the existing cash buffer may be insufficient to support operations through the next fiscal year.
As reported in financial statements, the 100% gross margin observed in several quarters is a misleading metric for MGX, as it fails to account for the massive R&D expenditures that function as the true cost of goods for a discovery-based biotechnology platform.
Investors should avoid relying on gross margin to assess profitability, as it obscures the high fixed-cost burden of the company's computational infrastructure. A more accurate assessment of the company's earning power would require adjusting for R&D intensity, which currently renders the reported gross margin largely irrelevant to the company's actual financial health.
Includes 30+ ratios · 5 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MGX stock.
Metagenomi, Inc. Common Stock's current P/E ratio is -0.6x. This places it at the 50th percentile of its historical range.
Metagenomi, Inc. Common Stock's return on equity (ROE) is -44.7%. The historical average is -58.8%.
Based on historical data, Metagenomi, Inc. Common Stock is trading at a P/E of -0.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Metagenomi, Inc. Common Stock has 78.9% gross margin and -380.9% operating margin.