Latest Ratios: P/E Ratio -7.5x · EV/EBITDA N/A · ROE -285.4%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $89M | $41M | $16M | $17M | — | — | — |
| Enterprise Value | $84M | $37M | $13M | $17M | — | — | — |
| P/E Ratio → | -7.54 | — | — | — | — | — | — |
| P/S Ratio | 24.84 | 11.55 | 6.05 | 6.83 | — | — | — |
| P/B Ratio | 19.13 | 12.13 | 7.86 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.28 | 4.85 | 6.89 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 84.2% | 84.2% | 86.5% | 87.7% | 88.9% | 82.8% | 75.1% |
| Operating Margin | -219.4% | -219.4% | -266.5% | -270.9% | -125.6% | -109.1% | -213.5% |
| Net Profit Margin | -218.5% | -218.5% | -306.8% | -594.6% | -178.0% | -111.3% | -193.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -285.4% | -285.4% | -2480.5% | — | — | -740.3% | -226.7% |
| ROA | -139.8% | -139.8% | -312.9% | -1469.9% | -426.6% | -170.6% | -133.6% |
| ROIC | — | — | — | — | — | — | — |
| ROCE | -263.8% | -263.8% | -1509.8% | — | — | -532.0% | -231.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.23 | — | — | — | 0.19 |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.34 | -1.56 | — | — | — | -0.96 |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -104.46 | -104.46 | -26.41 | -1.73 | -10.45 | -81.00 | -48.22 |
Net cash position: cash ($5M) exceeds total debt ($416611)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.05 | 2.05 | 1.75 | 0.13 | 0.07 | 0.34 | 2.44 |
| Quick Ratio | 1.96 | 1.96 | 1.74 | 0.12 | 0.06 | 0.32 | 2.33 |
| Cash Ratio | 1.78 | 1.78 | 1.52 | 0.04 | 0.04 | 0.23 | 1.88 |
| Asset Turnover | — | 0.56 | 0.56 | 4.83 | 1.81 | 3.58 | 0.69 |
| Inventory Turnover | 2.19 | 2.19 | 8.17 | 14.30 | 6.17 | 11.94 | 4.50 |
| Days Sales Outstanding | — | 20.01 | 33.24 | 10.86 | 23.71 | 15.47 | 58.87 |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $9M | $7M | $6M | $8M | $5M | $5M |
Liquidity and capital dependency
Based on current market data, NeurAxis trades at a P/S multiple of 25.22, which appears to price in significant future growth expectations that remain disconnected from the company's current inability to generate positive earnings or cash flow as reported in recent financial statements.
The elevated P/S ratio suggests that investors are valuing the firm as a high-growth platform rather than a mature medical device manufacturer. This valuation warrants caution, as it implies a rapid expansion of covered lives and market penetration that has yet to be fully validated by consistent, scalable revenue growth.
According to recent quarterly filings, NeurAxis maintains a robust gross margin of 86.4%, yet this efficiency is entirely offset by an operating margin of -108.3%, indicating that the company's current cost structure is heavily burdened by commercialization expenses that far exceed its current revenue base.
While the high gross margin confirms the product's inherent pricing power, the deep operating losses suggest that the company is in a high-burn phase of market development. Investors should monitor whether the firm can achieve operating leverage as it scales, or if the current SG&A intensity is a structural requirement of the pediatric neuromodulation market.
As reported in financial statements, the company's cash conversion cycle has shown extreme volatility, swinging from -1443 days to -200 days, which suggests significant inconsistencies in how NeurAxis manages its accounts receivable and inventory relative to its hospital-based customer base.
The erratic nature of the CCC indicates potential friction in the collection process or inventory stocking patterns at pediatric centers. This lack of predictability in working capital management may complicate cash flow forecasting and suggests that the company's operational processes are still maturing alongside its commercial footprint.
Based on the most recent quarterly data, the company's current ratio of 2.89 provides a superficial appearance of liquidity, yet this is undermined by a persistent cash burn that threatens to exhaust the firm's limited cash reserves without further external financing.
While the current ratio appears healthy, the underlying cash position is insufficient to sustain operations indefinitely given the current trajectory of operating losses. The company's reliance on external capital markets for survival remains a primary risk factor that could lead to significant shareholder dilution if revenue growth does not accelerate.
Investors frequently misapply the Price-to-Sales ratio to NeurAxis, failing to account for the fact that this metric ignores the high cost of clinical support and reimbursement navigation required to drive each unit of revenue in the specialized pediatric neuromodulation market.
Using P/S as a primary valuation tool obscures the reality that revenue growth is currently being purchased at a high cost to the balance sheet. A more appropriate metric for this business model would be the 'cost of customer acquisition' relative to the lifetime value of a covered patient, which would provide a clearer picture of the company's path to long-term profitability.
Includes 30+ ratios · 6 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NRXS stock.
NeurAxis, Inc.'s current P/E ratio is -7.5x. This places it at the 50th percentile of its historical range.
NeurAxis, Inc.'s return on equity (ROE) is -285.4%. The historical average is -256.0%.
Based on historical data, NeurAxis, Inc. is trading at a P/E of -7.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
NeurAxis, Inc. has 84.2% gross margin and -219.4% operating margin.