Latest Ratios: P/E Ratio -4.6x · EV/EBITDA N/A · ROE -53.5%. (2014–2025 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 | $974M | $1.2B | $2.7B | $2.7B | $8.4B | $3.0B | $693M | $588M | $692M | $454M |
| Enterprise Value | $1.9B | $912M | $1.2B | $2.6B | $2.3B | $8.3B | $2.9B | $654M | $529M | $351M | $181M |
| P/E Ratio → | -4.61 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 29.12 | 14.40 | 19.91 | 74.61 | 51.53 | 253.61 | 52.52 | 16.08 | 19.32 | 26.50 | 27.54 |
| P/B Ratio | 2.83 | 1.45 | 1.32 | 2.58 | 2.17 | 8.06 | 5.78 | 2.57 | 2.12 | 2.30 | 2.16 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | 15.16 |
| P/OCF | — | — | — | — | — | — | — | — | — | — | 12.57 |
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 | — | 13.48 | 20.28 | 71.54 | 43.99 | 252.11 | 50.44 | 15.18 | 17.38 | 13.45 | 10.97 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 6.04 |
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 | 76.5% | 76.5% | 82.2% | 75.3% | 85.5% | 79.2% | -159.4% | -151.5% | -192.8% | -159.0% | -93.2% |
| Operating Margin | -651.7% | -651.7% | -923.1% | -1420.5% | -879.0% | -810.4% | -235.5% | -246.8% | -298.6% | -266.3% | -195.2% |
| Net Profit Margin | -609.9% | -609.9% | -896.8% | -1326.5% | -909.8% | -810.5% | -231.5% | -230.9% | -280.4% | -258.6% | -192.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -53.5% | -53.5% | -54.0% | -42.1% | -41.7% | -34.2% | -33.7% | -36.3% | -29.5% | -26.5% | -22.8% |
| ROA | -40.6% | -40.6% | -41.7% | -34.1% | -33.7% | -27.2% | -26.6% | -29.2% | -23.6% | -20.0% | -16.6% |
| ROIC | -44.0% | -44.0% | -43.8% | -43.4% | -37.5% | -28.8% | -32.1% | -35.4% | -76.2% | — | — |
| ROCE | -48.5% | -48.5% | -47.2% | -40.0% | -35.8% | -30.1% | -30.0% | -35.1% | -27.9% | -22.7% | -18.9% |
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 | 0.14 | 0.14 | 0.24 | 0.11 | 0.11 | 0.07 | 0.07 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.09 | 0.02 | -0.11 | -0.32 | -0.05 | -0.23 | -0.14 | -0.21 | -1.13 | -1.30 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | -9.12 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($155M) exceeds total debt ($93M)
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 | 5.08 | 5.08 | 5.77 | 8.67 | 9.61 | 6.11 | 9.59 | 8.12 | 8.01 | 11.32 | 9.15 |
| Quick Ratio | 5.08 | 5.08 | 5.77 | 8.67 | 9.61 | 6.11 | 9.59 | 8.12 | 8.01 | 11.32 | 9.15 |
| Cash Ratio | 4.33 | 4.33 | 5.43 | 7.92 | 9.42 | 5.95 | 9.30 | 7.85 | 7.74 | 10.86 | 8.89 |
| Asset Turnover | — | 0.08 | 0.05 | 0.03 | 0.03 | 0.03 | 0.09 | 0.13 | 0.09 | 0.07 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 51.07 | 53.71 | 366.82 | 26.39 | 22.43 | 13.41 | 39.12 | 90.51 | 146.34 | 142.95 |
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 | — | — | — | — | — | — | — | — | — | — | 6.6% |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $108M | $99M | $89M | $77M | $71M | $56M | $47M | $43M | $36M | $35M |
Insufficient Capital Runway
Based on reported figures, Intellia trades at a P/S ratio of 27.66, which suggests that the market is pricing in significant future success for its in vivo CRISPR platform rather than reflecting the company's current, highly volatile and non-recurring collaboration-based revenue stream.
The elevated P/S multiple relative to broader biotech peers indicates that investors are paying a substantial premium for the potential of the NTLA-2001 and NTLA-2002 programs. This valuation appears to hinge on the assumption of successful clinical milestones, as the lack of a forward P/E or PEG ratio underscores the absence of near-term earnings visibility.
As reported in financial statements, Intellia's ROIC has consistently remained in negative territory, hovering around -12% over the last ten quarters, which highlights the structural difficulty of generating positive returns on invested capital while the company remains in a pre-commercial, high-expenditure development phase.
The persistent negative ROIC reflects the massive R&D outlays required to advance gene-editing therapies without a corresponding commercial revenue base. Investors should monitor whether the company can eventually achieve positive returns as its lead programs transition toward potential commercialization, though current trends suggest significant capital destruction remains the norm.
According to recent SEC filings, Intellia's asset turnover ratio has remained stagnant at approximately 0.02, a figure that underscores the company's lack of operational scale and its reliance on intellectual property development rather than physical product manufacturing or high-volume service delivery.
This low turnover is characteristic of a firm that has yet to commercialize its pipeline, as the asset base is primarily composed of cash and intangible assets rather than revenue-generating inventory or equipment. The lack of meaningful improvement in this metric suggests that the company's operational efficiency is currently secondary to its clinical trial progress.
Based on the provided financial data, the company's current ratio of 6.10 appears superficially strong, yet this metric masks the reality that cash reserves are being depleted rapidly to fund clinical operations, with total assets declining significantly over the past two years.
While the high current ratio suggests an ability to meet short-term obligations, the rapid consumption of cash and equivalents indicates that the company's liquidity position is becoming increasingly vulnerable. The lack of recurring revenue means that the current liquidity buffer is essentially a finite resource that will require replenishment through dilutive financing.
As indicated by financial disclosures, the reported gross margin of 76.47% is a misleading indicator of operational health, as it reflects the accounting treatment of milestone payments rather than the true cost of goods sold for a commercialized therapeutic product.
Investors often misinterpret these high margins as evidence of a scalable, high-margin business model, when in reality, they are an artifact of the collaboration-heavy revenue structure. A more accurate assessment of the company's earning power would require focusing on the operating margin, which remains deeply negative and better captures the true cost of the R&D-intensive business model.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying NTLA stock.
Intellia Therapeutics, Inc.'s current P/E ratio is -4.6x. This places it at the 50th percentile of its historical range.
Intellia Therapeutics, Inc.'s return on equity (ROE) is -53.5%. The historical average is -49.7%.
Based on historical data, Intellia Therapeutics, Inc. is trading at a P/E of -4.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Intellia Therapeutics, Inc. has 76.5% gross margin and -651.7% operating margin.