Latest Ratios: P/E Ratio -0.0x · EV/EBITDA N/A · ROE -98.8%. (2019–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Market Cap | $8251 | $15M | $198M | $132M | — | — |
| Enterprise Value | $16M | $32M | $200M | $132M | — | — |
| P/E Ratio → | -0.00 | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — |
| P/B Ratio | — | — | 1.90 | 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 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — |
| 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 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| ROE | -98.8% | -98.8% | 0.5% | -120.6% | — | — |
| ROA | -5.9% | -5.9% | 0.5% | -114.4% | -428.2% | — |
| ROIC | — | — | -1.8% | -0.8% | — | — |
| ROCE | — | — | -2.3% | -1.1% | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.02 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — |
| Net Debt / Equity | — | — | 0.02 | -0.00 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — |
| Interest Coverage | — | — | -1386.02 | — | — | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Current Ratio | 0.02 | 0.02 | 0.14 | 6.29 | 0.17 | — |
| Quick Ratio | 0.02 | 0.02 | 0.14 | 6.29 | 0.17 | — |
| Cash Ratio | — | — | 0.09 | 4.36 | — | — |
| Asset Turnover | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — |
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 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|
| 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 | — | $28M | $19M | $13M | $20M | $20M |
Capital Access and Dilution
As reported in financial statements, OCEA's ROIC has consistently remained in negative territory, reaching -37.9% in 2023Q2, which highlights the company's inability to generate productive returns on invested capital while it remains in the pre-clinical stage of its drug development pipeline.
The persistent negative return on capital metrics suggest that the company is currently destroying shareholder value through its high-burn research activities. Investors should monitor whether future licensing milestones can eventually offset these historical capital expenditures, though current trends indicate a significant disconnect between capital deployment and tangible asset creation.
According to quarterly data, OCEA's current ratio has plummeted to a precarious 0.06 as of 2025Q1, indicating that the company possesses virtually no short-term liquidity to cover its immediate liabilities or fund the next phase of its clinical development programs.
This liquidity profile suggests that the company is operating with minimal margin for error, leaving it highly dependent on external financing to meet even basic operational obligations. The lack of liquid assets relative to current liabilities warrants further investigation into the company's ability to maintain its going concern status without further dilutive capital raises.
Based on recent SEC filings, OCEA carries $9.3 million in total debt as of 2025Q1, a figure that appears disproportionately high given the company's lack of commercial revenue and the absence of any tangible assets to serve as collateral for these obligations.
The company's leverage position is particularly concerning given the lack of operating cash flow to service debt, as evidenced by the erratic interest coverage ratios observed in recent periods. This structure suggests that the company may face significant refinancing risks if it cannot secure non-dilutive funding or achieve clinical milestones that improve its credit profile.
As indicated by comparative market data, OCEA's valuation and financial health metrics lag behind peers like ADMA Biologics, which demonstrates a 36.0% ROIC, suggesting that OCEA's current pre-revenue status places it at a structural disadvantage in attracting capital compared to firms with established commercial operations.
The gap between OCEA and its peers appears to be driven by the company's lack of commercial-stage assets, which creates a higher risk premium for investors. While peers like Nuvation Bio also face challenges, OCEA's specific liquidity constraints suggest that its operational risks are currently more acute than those of its better-capitalized competitors.
Based on an analysis of the company's financial structure, the P/E ratio is the most commonly misapplied metric for OCEA, as it obscures the company's pre-revenue reality and the non-cash accounting adjustments that frequently distort net income figures.
Investors should instead focus on cash burn rates and the progress of IND-enabling studies, as these metrics provide a more accurate reflection of the company's operational health than traditional earnings-based multiples. Relying on P/E or EV/EBITDA for a pre-clinical biotech firm may lead to erroneous conclusions regarding the company's intrinsic value and long-term viability.
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Quick answers to the most common questions about buying OCEA stock.
Ocean Biomedical, Inc.'s current P/E ratio is -0.0x. This places it at the 50th percentile of its historical range.
Ocean Biomedical, Inc.'s return on equity (ROE) is -98.8%. The historical average is -73.0%.
Based on historical data, Ocean Biomedical, Inc. is trading at a P/E of -0.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.