Latest Ratios: P/E Ratio -3.6x · EV/EBITDA N/A · ROE -32.3%. (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 | $215M | $246M | $211M | $374M | $224M | $438M | $359M | — | — |
| Enterprise Value | $232M | $264M | $214M | $389M | $140M | $282M | $327M | — | — |
| P/E Ratio → | -3.60 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.36 | 1.57 | 1.01 | 1.41 | 0.71 | 1.20 | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -32.3% | -32.3% | -29.9% | -21.9% | -17.1% | -30.1% | — | -83.4% | 12532.0% |
| ROA | -27.2% | -27.2% | -25.8% | -19.4% | -15.5% | -20.8% | -30.2% | -11.7% | 429.7% |
| ROIC | -26.0% | -26.0% | -24.8% | -22.3% | -21.8% | -51.7% | -10.2% | -5.0% | — |
| ROCE | -32.0% | -32.0% | -30.7% | -23.8% | -17.3% | -21.3% | -31.5% | -12.3% | -76.6% |
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 | 0.19 | 0.19 | 0.15 | 0.13 | 0.10 | 0.08 | — | 15.23 | 1.00 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 0.01 |
| Net Debt / Equity | — | 0.11 | 0.01 | 0.06 | -0.27 | -0.43 | — | 15.20 | 0.76 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 0.01 |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -9.96 | — | — | — | — |
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 | 13.33 | 13.33 | 17.40 | 19.39 | 27.57 | 60.09 | 25.73 | 34.62 | 266.45 |
| Quick Ratio | 13.33 | 13.33 | 17.40 | 19.39 | 27.57 | 60.09 | 25.73 | 34.62 | 266.45 |
| Cash Ratio | 13.00 | 13.00 | 17.02 | 19.01 | 27.16 | 59.49 | 25.43 | 34.00 | 999999.00 |
| Asset Turnover | — | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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 | — | $126M | $125M | $125M | $125M | $84M | $33M | $6M | $7M |
Imminent liquidity and commercialization
Based on reported figures, Nautilus trades at a price-to-book ratio of 1.66, which suggests that the market is pricing the company as a binary outcome rather than a traditional growth entity, given the absence of revenue and the significant risks associated with its pre-commercial status.
The lack of P/E or EV/EBITDA multiples underscores the company's pre-revenue stage, forcing investors to rely on book value as a floor. This valuation appears to reflect a speculative premium on the potential of the iterative probing platform, which may be vulnerable to rapid contraction if commercialization timelines continue to slip.
As indicated by the company's financial statements, ROIC has remained consistently negative, hovering around -7.3% in 2026Q1, which highlights the substantial capital intensity required to develop the proprietary proteomics platform without any offsetting product-driven cash generation to improve returns on invested capital.
The persistent negative ROIC trend suggests that the company is currently destroying capital to fund its R&D-heavy development phase. Investors should monitor whether the company can achieve a pivot toward positive returns once the platform reaches commercial scale, though current trends indicate a long path to efficiency.
According to recent SEC filings, the company's current ratio has declined from 20.09 in 2024Q1 to 11.85 in 2026Q1, a trend that, while numerically high, masks a critical depletion of cash reserves that may necessitate emergency financing to maintain operational continuity.
While the high current ratio might appear to suggest a comfortable liquidity buffer, the absolute cash level of $12.4 million is insufficient relative to the historical quarterly burn rate. This discrepancy warrants immediate investigation, as it suggests the company may be approaching a point where its ability to fund ongoing research is severely compromised.
As reported in financial statements, the use of standard liquidity ratios like the current ratio is highly misleading for Nautilus, as it fails to account for the company's lack of revenue and the high, non-discretionary nature of its R&D-driven cash burn.
Investors should prioritize the cash runway metric over traditional liquidity ratios, as the latter includes assets that may not be easily liquidated to fund operations. Relying on the current ratio obscures the reality that the company's primary asset is its intellectual property, which provides no immediate cash flow to support its ongoing development costs.
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Quick answers to the most common questions about buying NAUT stock.
Nautilus Biotechnology, Inc.'s current P/E ratio is -3.6x. This places it at the 50th percentile of its historical range.
Nautilus Biotechnology, Inc.'s return on equity (ROE) is -32.3%. The historical average is -35.8%.
Based on historical data, Nautilus Biotechnology, Inc. is trading at a P/E of -3.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.