Latest Ratios: P/E Ratio -3.1x · EV/EBITDA N/A · ROE N/A. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $72M | $58M | $23M | $35M | $730M | $2.2B | $133M | $54M | $91M | $87M |
| Enterprise Value | $65M | $51M | $28M | $39M | $720M | $2.2B | $132M | $56M | $92M | $87M |
| P/E Ratio → | -3.10 | — | — | — | — | — | — | 132.50 | 1376.52 | — |
| P/S Ratio | 58.70 | 47.35 | — | — | — | — | — | — | — | — |
| P/B Ratio | — | — | — | — | 98.53 | 107.79 | — | 1.83 | 1.31 | 1.26 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 41.50 | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | 113.45 | 1112.87 | — |
| EV / EBIT | — | — | — | — | — | — | — | 113.45 | 1112.87 | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 58.8% | 58.8% | — | — | — | — | — | — | — | — |
| Operating Margin | -1324.4% | -1324.4% | — | — | — | — | — | — | — | — |
| Net Profit Margin | -2336.5% | -2336.5% | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -281.8% | -447.3% | — | 0.8% | 0.1% | -0.2% |
| ROA | -344.7% | -344.7% | -458.3% | -182.0% | -135.8% | -521.8% | -295.7% | 0.8% | 0.1% | -0.2% |
| ROIC | — | — | — | — | — | — | — | -1.1% | -1.1% | — |
| ROCE | — | — | — | — | -285.7% | -457.6% | — | -1.4% | -1.4% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 1.42 | 0.02 | — | 0.07 | 0.01 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | 3.96 | 8.37 | — |
| Net Debt / Equity | — | — | — | — | -1.29 | -1.30 | — | 0.07 | 0.01 | -0.01 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 3.96 | 8.24 | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -41.66 | -41.66 | -22.29 | -250.25 | — | -5169.17 | -923.59 | — | — | — |
Net cash position: cash ($8M) exceeds total debt ($631000)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.31 | 0.31 | 0.15 | 0.36 | 1.66 | 2.74 | 0.06 | 0.11 | 0.05 | 5.76 |
| Quick Ratio | 0.31 | 0.31 | 0.15 | 0.36 | 1.66 | 2.74 | 0.06 | 0.11 | 0.05 | 5.76 |
| Cash Ratio | 0.27 | 0.27 | 0.07 | 0.24 | 1.29 | 2.32 | 0.04 | 0.00 | 0.02 | 4.82 |
| Asset Turnover | — | 0.09 | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | 0.01 | — | — | — |
| Days Sales Outstanding | — | 47.97 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | 0.8% | 0.1% | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 75.5% | 0.0% | 80.1% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 75.5% | 0.0% | 80.1% |
| Shares Outstanding | — | $21M | $11M | $8M | $66M | $47M | $546586 | $508835 | $892496 | $903550 |
Imminent capital dilution risk
According to recent market data, NRXP trades at a price-to-sales multiple of 52.63, a figure that appears disconnected from fundamental performance and likely reflects speculative pricing tied to the company's Breakthrough Therapy designation rather than any tangible, recurring revenue stream or established commercial market share.
The elevated P/S ratio suggests that investors are pricing the company as a binary option on clinical success rather than a traditional operating entity. This valuation level warrants caution, as it implies a high growth expectation that the current pre-commercial revenue base is structurally unable to support.
As reported in financial statements, NRXP's operating margin of -1324.41% highlights a profound disconnect between early-stage revenue and the massive R&D expenditures required to advance the CNS pipeline, rendering traditional profitability metrics largely irrelevant for assessing the company's current operational viability or long-term earning power.
The gross margin of 58.78% provides a misleading picture of efficiency, as it fails to account for the heavy, non-discretionary clinical trial costs that dominate the income statement. Investors should monitor the path to commercialization, as current margins suggest a business model that is fundamentally dependent on external capital rather than internal cash generation.
Based on the 2026Q1 balance sheet, NRXP maintains a current ratio of 0.29, which indicates a severe liquidity mismatch where current liabilities significantly exceed available cash reserves, leaving the company with minimal buffer to absorb unexpected clinical trial delays or regulatory hurdles in the near term.
This liquidity position appears precarious when compared to peers with deeper capital reserves, suggesting that the company may be forced into dilutive financing arrangements. The reliance on cash-on-hand to fund ongoing operations makes the firm highly sensitive to any disruption in its ability to access capital markets.
Data from recent SEC filings indicates that the P/E ratio is frequently misapplied to NRXP, as the company's negative earnings and pre-commercial status render this metric entirely meaningless for valuation, potentially obscuring the underlying value of the firm's intellectual property and its specific regulatory-pathway-based competitive moat.
Analysts should instead focus on cash runway and the probability-weighted net present value of the clinical pipeline. Relying on earnings-based multiples in this context may lead to an incorrect assessment of the company's risk profile, as it ignores the fundamental reality of a clinical-stage biotech firm.
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying NRXP stock.
NRx Pharmaceuticals, Inc.'s current P/E ratio is -3.1x. The historical average is 132.5x.
Based on historical data, NRx Pharmaceuticals, Inc. is trading at a P/E of -3.1x. Compare with industry peers and growth rates for a complete picture.
NRx Pharmaceuticals, Inc. has 58.8% gross margin and -1324.4% operating margin.