Latest Ratios: P/E Ratio -7.4x · EV/EBITDA N/A · ROE -41.3%. (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 | $1.1B | $718M | $563M | $473M | $234M | $558M | $743M | — | — | — |
| Enterprise Value | $1.1B | $684M | $506M | $460M | $179M | $334M | $664M | — | — | — |
| P/E Ratio → | -7.40 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.49 | 1.87 | 2.31 | 2.11 | 1.05 | 2.04 | 2.56 | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -41.3% | -41.3% | -54.7% | -45.1% | -36.0% | -28.0% | -39.0% | -228.3% | — | -85.6% |
| ROA | -37.8% | -37.8% | -48.4% | -39.9% | -32.5% | -26.3% | -37.5% | -38.2% | -55.7% | -73.4% |
| ROIC | -39.9% | -39.9% | -53.9% | -43.9% | -63.6% | -45.5% | -53.0% | — | — | — |
| ROCE | -44.7% | -44.7% | -59.1% | -47.2% | -35.4% | -27.5% | -39.2% | -43.0% | -62.5% | -82.2% |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.03 | 0.03 | 0.01 | 0.05 | 0.05 | 0.01 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.09 | -0.23 | -0.06 | -0.25 | -0.82 | -0.27 | -1.01 | — | -1.00 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -32.80 | — | — | — | — | — |
Net cash position: cash ($46M) exceeds total debt ($12M)
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 | 14.13 | 14.13 | 10.56 | 10.39 | 13.68 | 15.87 | 32.96 | 16.81 | 16.84 | 10.20 |
| Quick Ratio | 14.13 | 14.13 | 10.56 | 10.39 | 13.68 | 15.87 | 32.96 | 16.81 | 16.84 | 10.20 |
| Cash Ratio | 13.79 | 13.79 | 10.30 | 10.18 | 13.40 | 15.64 | 32.61 | 16.65 | 16.42 | 9.89 |
| 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 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 | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — | — |
| Shares Outstanding | — | $88M | $70M | $51M | $40M | $38M | $22M | $19M | $2M | $1M |
Clinical trial funding shortfall
Based on reported figures, ORIC trades at a P/B of 2.18, which suggests that investors are pricing the company primarily on its intellectual property and clinical potential rather than any near-term earnings, as the TTM P/E of -6.48 confirms the absence of profitable operations.
The valuation multiple appears to be heavily influenced by the perceived probability of success for the ORIC-114 program rather than fundamental financial metrics. Investors should monitor whether this premium holds as the company approaches critical data readouts, as the lack of revenue makes traditional valuation multiples largely irrelevant for assessing intrinsic value.
As reported in financial statements, ORIC's ROIC has consistently trended in negative territory, reaching -8.4% in 2026Q1, which highlights the ongoing destruction of invested capital inherent to a pre-revenue biotechnology firm that relies entirely on external financing to fund its extensive research and development pipeline.
The persistent negative return on capital is a structural feature of the company's current development-stage lifecycle. This trend suggests that until a clinical asset reaches commercialization or a significant licensing milestone is achieved, the company will continue to consume capital at a rate that outpaces its ability to generate value.
According to recent SEC filings, ORIC's current ratio has fluctuated significantly, dropping from 21.31 in 2024Q1 to 16.33 in 2026Q1, which indicates that while the company maintains a high short-term asset base, its liquidity is rapidly being depleted by the high costs of clinical trial execution.
The high current ratio is somewhat misleading as it reflects cash raised from equity markets rather than operational efficiency. Investors should monitor the rate of cash depletion, as the current liquidity position may prove insufficient to support the multi-asset pipeline without further dilutive capital raises in the near term.
Based on industry data, ORIC's ROE of -8.9% appears relatively less negative than peers like Tango Therapeutics at -41.5%, yet this comparison is complicated by the varying stages of clinical development and the timing of capital infusions across the precision oncology sector.
The gap between ORIC and its peers may be temporary, driven by the specific timing of clinical trial expenses rather than fundamental operational superiority. Analysts should be cautious in interpreting these relative metrics, as the lack of commercial revenue across the peer group makes direct ratio comparisons less meaningful than clinical progress.
As indicated by historical filings, the Price-to-Book ratio is frequently misapplied to ORIC, as it obscures the fact that the company's book value is largely composed of cash from recent financings rather than productive assets that generate future earnings or sustainable competitive advantages for the firm.
Investors should instead focus on the cash runway and the probability-weighted net present value of the clinical pipeline. Relying on P/B ratios in this context may lead to an overestimation of the company's floor value, as the book value is subject to rapid erosion through ongoing operational cash burn.
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Quick answers to the most common questions about buying ORIC stock.
ORIC Pharmaceuticals, Inc.'s current P/E ratio is -7.4x. This places it at the 50th percentile of its historical range.
ORIC Pharmaceuticals, Inc.'s return on equity (ROE) is -41.3%. The historical average is -69.8%.
Based on historical data, ORIC Pharmaceuticals, Inc. is trading at a P/E of -7.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.