Latest Ratios: P/E Ratio -68.1x · EV/EBITDA N/A · ROE N/A. (2011–2025 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 | $2.0B | $1.1B | $136M | $269M | $128M | $281M | $402M | — | — | — | — |
| Enterprise Value | $2.0B | $1.1B | $137M | $244M | $140M | $243M | $332M | — | — | — | — |
| P/E Ratio → | -68.08 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 58.10 | 37.30 | — | 7.42 | 26.78 | 106.29 | 173.06 | — | — | — | — |
| P/B Ratio | — | — | — | — | — | 10.50 | 5.71 | — | — | — | — |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 38.73 | — | 6.74 | 29.25 | 91.97 | 142.88 | — | — | — | — |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -36.5% | -36.5% | 951.2% | -74.0% | -977.8% | -1986.4% | -1566.8% | -1841.0% | -864.2% | -678.9% | -403.1% |
| Net Profit Margin | -80.8% | -80.8% | 947.6% | -109.6% | -1194.3% | -1775.7% | -1444.7% | -2003.7% | -872.2% | -702.4% | -403.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | -96.7% | -98.0% | -825.6% | -104.3% | -85.3% | -132.6% |
| ROA | -35.5% | -35.5% | -84.5% | -51.7% | -70.6% | -39.9% | -35.3% | -99.4% | -58.5% | -59.5% | -77.0% |
| ROIC | — | — | — | — | — | — | -698.8% | -1153.3% | — | -1099.7% | -628.4% |
| ROCE | -115.5% | -115.5% | -260.5% | -81.3% | -107.7% | -58.4% | -46.5% | -122.4% | -72.7% | -71.9% | -105.4% |
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 | — | — | — | — | — | 1.72 | 0.70 | — | 1.44 | 0.11 | 0.33 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | -1.41 | -1.00 | — | -1.10 | -0.97 | -0.88 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.30 | -1.30 | -8.44 | -3.04 | -7.83 | -67.43 | -109.96 | -9.76 | -35.50 | -233.15 | -213.84 |
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 | 1.09 | 1.09 | 1.04 | 1.75 | 1.38 | 2.53 | 6.58 | 3.22 | 3.68 | 5.68 | 3.26 |
| Quick Ratio | 1.09 | 1.09 | 1.04 | 1.75 | 1.30 | 2.53 | 6.58 | 3.03 | 3.58 | 6.20 | 3.87 |
| Cash Ratio | 0.92 | 0.92 | 0.84 | 1.51 | 1.09 | 2.28 | 6.26 | 2.45 | 3.12 | 5.05 | 2.55 |
| Asset Turnover | — | 0.44 | -0.11 | 0.39 | 0.08 | 0.03 | 0.02 | 0.05 | 0.08 | 0.06 | 0.18 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 94.57 | -433.28 | 29.91 | 217.20 | 537.02 | 608.36 | 180.42 | 104.60 | 82.77 | 0.35 |
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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $48M | $47M | $37M | $35M | $35M | $24M | $22M | $20M | $17M | $15M |
Clinical trial funding runway
Based on reported figures, NBTX trades at a price-to-sales ratio of 52.86, a multiple that appears to price in significant clinical success rather than current milestone-driven revenue, suggesting investors are valuing the company as a de-risked platform play rather than a traditional biotech development firm.
The elevated P/S multiple relative to broader biotech peers indicates that the market is heavily discounting the potential future commercialization of NBTXR3. This valuation is highly sensitive to the Janssen collaboration, and any deviation from expected clinical milestones could lead to a rapid contraction in the multiple as the market re-evaluates the company's standalone commercial prospects.
According to recent financial statements, NBTX's asset turnover remains exceptionally low at 0.05 in 2025Q4, reflecting the company's status as a pre-commercial entity where the primary assets are intangible intellectual property rather than revenue-generating physical capital or inventory.
The erratic nature of the company's days sales outstanding, which reached 144 days in 2025Q4, highlights the dependency on milestone-based payment cycles rather than consistent operational cash flow. This lack of efficiency is structural and will likely persist until the company transitions from a research-focused entity to a commercial-stage manufacturer.
As reported in financial filings, the company's current ratio has compressed to 1.09 in 2025Q4, a significant decline from the 3.05 observed in 2021Q2, which suggests that the firm's ability to absorb unexpected clinical or operational shocks is increasingly constrained by its ongoing cash burn.
The convergence of the current and quick ratios at 1.09 confirms that the company holds negligible inventory, leaving it entirely dependent on cash reserves to fund its high-burn clinical trials. This liquidity profile warrants close monitoring, as any delay in milestone payments could necessitate dilutive financing to maintain operations.
Investors frequently misapply the price-to-sales ratio to NBTX, as the current revenue base is derived from non-recurring licensing milestones rather than commercial product sales, which obscures the company's true lack of organic, repeatable earning power in its current clinical-stage development phase.
Using P/S to evaluate NBTX is fundamentally flawed because it treats milestone payments as sustainable revenue, ignoring the fact that these payments are tied to specific, non-repeatable clinical events. A more appropriate metric for this business model would be the cash runway to the next major data readout, which better captures the existential risk inherent in the company's current development cycle.
Includes 30+ ratios · 15 years · Updated daily
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Quick answers to the most common questions about buying NBTX stock.
Nanobiotix S.A.'s current P/E ratio is -68.1x. This places it at the 50th percentile of its historical range.
Based on historical data, Nanobiotix S.A. is trading at a P/E of -68.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nanobiotix S.A. has 100.0% gross margin and -36.5% operating margin.