Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -382.8%. (2004–2025 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 | $1M | $12M | $62M | $48M | $78M | $56M | $22M | $999999 | — | — | — |
| Enterprise Value | $390529 | $11M | $57M | $45M | $62M | $48M | $8M | $167999 | — | — | — |
| P/E Ratio → | -0.12 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.14 | 1.45 | 7.08 | 5.41 | 9.17 | 7.07 | 2.96 | 0.18 | — | — | — |
| P/B Ratio | 0.24 | 4.58 | 9.48 | 14.93 | 6.34 | 2.15 | 1.37 | 1.00 | 1.00 | 1.00 | 1.00 |
| 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 | — | 1.36 | 6.56 | 5.07 | 7.21 | 6.11 | 1.06 | 0.03 | — | — | — |
| 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 | 62.0% | 62.0% | 66.7% | 56.2% | 55.7% | 56.7% | 54.5% | 51.7% | 26.6% | 22.2% | 44.7% |
| Operating Margin | -134.3% | -134.3% | -125.7% | -198.9% | -201.0% | -246.5% | -228.8% | -328.5% | -340.9% | -416.9% | -1215.1% |
| Net Profit Margin | -211.9% | -211.9% | -127.7% | -228.0% | -170.0% | -246.9% | -212.8% | -328.7% | -340.8% | -376.6% | -1225.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -382.8% | -382.8% | -229.2% | -259.6% | -75.8% | -92.5% | -173.0% | -457.1% | -153.6% | -148.7% | -226.8% |
| ROA | -219.3% | -219.3% | -113.7% | -117.3% | -52.7% | -77.6% | -123.7% | -252.0% | -125.1% | -103.2% | -98.6% |
| ROIC | -433.0% | -433.0% | -766.2% | -7732.5% | -184.2% | -142.2% | -756.1% | -1682.7% | -2325.2% | -2063.0% | -2706.6% |
| ROCE | -213.8% | -213.8% | -158.1% | -132.6% | -72.9% | -89.7% | -182.3% | -442.3% | -152.8% | -144.0% | -151.2% |
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 | 0.13 | 0.13 | 0.08 | 0.24 | 0.08 | 0.05 | 0.02 | 0.22 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.29 | -0.70 | -0.95 | -1.36 | -0.29 | -0.86 | -0.42 | -0.92 | -0.96 | -0.75 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -0.66 | -0.66 | -1.93 | -4.80 | -0.57 | — | — | — | — | -4.27 | -30.44 |
Net cash position: cash ($1M) exceeds total debt ($328000)
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 | 1.71 | 1.71 | 3.46 | 2.59 | 4.86 | 8.50 | 5.17 | 1.20 | 2.86 | 8.54 | 0.74 |
| Quick Ratio | 1.08 | 1.08 | 2.79 | 1.96 | 4.29 | 7.65 | 4.35 | 0.67 | 2.28 | 7.78 | 0.53 |
| Cash Ratio | 0.36 | 0.36 | 1.99 | 1.20 | 3.90 | 7.32 | 4.03 | 0.38 | 1.93 | 7.46 | 0.41 |
| Asset Turnover | — | 1.35 | 0.89 | 0.91 | 0.35 | 0.26 | 0.37 | 0.98 | 0.57 | 0.19 | 0.17 |
| Inventory Turnover | 1.65 | 1.65 | 1.70 | 1.94 | 1.42 | 1.21 | 1.14 | 1.48 | 2.21 | 1.74 | 1.05 |
| Days Sales Outstanding | — | 65.89 | 72.12 | 80.34 | 60.07 | 34.56 | 44.39 | 52.92 | 57.40 | 55.99 | 79.85 |
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% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $197184 | $37921 | $1604 | $142 | $56 | $22 | $1 | $0 | $0 | $0 |
Imminent liquidity shortfall
Based on current market data, Nuwellis trades at a price-to-sales ratio of 0.15, a valuation level that suggests investors have largely abandoned expectations for near-term growth and are instead pricing the company as a distressed asset with significant binary risk regarding its future viability.
The absence of meaningful P/E or EV/EBITDA multiples underscores the market's focus on the company's inability to generate positive earnings. This valuation gap relative to peers like AtriCure indicates that the market does not view Nuwellis as a growth-stage medical technology firm, but rather as a speculative entity facing severe capital constraints.
As reported in financial statements, Nuwellis has struggled with deeply negative ROIC figures, including a -138.2% reading in 2023Q4, which highlights a structural inability to generate returns on invested capital that exceed the company's cost of capital or even maintain a positive trajectory.
The erratic nature of these returns, often swinging between extreme negative values, suggests that the company's capital allocation has failed to produce a compounding effect. Investors should monitor whether the current management team can pivot toward a more efficient use of capital, though historical trends suggest this remains unlikely.
According to recent SEC filings, Nuwellis exhibits highly volatile cash conversion cycles, with days inventory outstanding reaching as high as 282 days in 2024Q1, indicating significant friction in converting its specialized medical device inventory into realized cash flow for the business.
The extended inventory holding periods suggest potential obsolescence risks for the Aquadex disposable sets, which may require future write-downs. Furthermore, the lack of consistent improvement in asset turnover ratios implies that the company is not effectively leveraging its installed base to drive the recurring revenue necessary for operational sustainability.
Based on the company's reported cash and equivalents of $1.085M, Nuwellis faces a precarious liquidity position that appears insufficient to support its ongoing operating losses, warranting investigation into the timing and necessity of potential dilutive financing events to maintain basic business operations.
The current ratio, while appearing superficially adequate at 1.56 in 2026Q1, masks the underlying reality of a company that is consistently burning through its cash reserves. Without a significant improvement in revenue pull-through or a reduction in fixed costs, the company's ability to meet its short-term obligations remains highly questionable.
Investors frequently overemphasize the company's 62% gross margin as a sign of operational health, yet this metric obscures the reality that the high fixed-cost structure and negative operating margins render the gross profit insufficient to cover the company's core administrative and research expenditures.
Relying on gross margin as a proxy for success is misleading for a business model that has yet to achieve the scale required to absorb its overhead. A more appropriate metric for Nuwellis would be the 'burn-to-revenue' ratio, which better captures the true cost of acquiring and maintaining each dollar of top-line growth.
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying NUWE stock.
Nuwellis, Inc.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Nuwellis, Inc.'s return on equity (ROE) is -382.8%. The historical average is -180.3%.
Based on historical data, Nuwellis, Inc. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Nuwellis, Inc. has 62.0% gross margin and -134.3% operating margin.