Latest Ratios: P/E Ratio -9.8x · EV/EBITDA N/A · ROE -65.2%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.2B | $1.6B | $1.0B | $1.1B | $378M | $438M | — | — | — |
| Enterprise Value | $1.8B | $1.4B | $756M | $686M | $216M | $229M | — | — | — |
| P/E Ratio → | -9.79 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 6.34 | 6.05 | 3.87 | 2.80 | 2.53 | 2.14 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -65.2% | -65.2% | -41.2% | -37.8% | -43.1% | -28.4% | -51.8% | -76.1% | -87.1% |
| ROA | -59.3% | -59.3% | -38.9% | -35.6% | -40.2% | -27.3% | -48.7% | -69.0% | -79.4% |
| ROIC | — | — | — | — | — | — | — | — | — |
| ROCE | -62.9% | -62.9% | -44.7% | -36.3% | -48.9% | -36.0% | -49.8% | -75.9% | -87.1% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.07 | -1.05 | -1.02 | -1.08 | -1.02 | -1.03 | -1.09 | -1.09 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -5384.33 | -194.62 | -321.38 | — | — |
Net cash position: cash ($292M) exceeds total debt ($776798)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 10.11 | 10.11 | 12.60 | 27.25 | 9.16 | 30.28 | 19.00 | 10.70 | 11.29 |
| Quick Ratio | 10.11 | 10.11 | 12.60 | 27.25 | 8.93 | 30.28 | 19.00 | 10.70 | 11.29 |
| Cash Ratio | 9.85 | 9.85 | 12.22 | 26.79 | 8.88 | 29.97 | 18.56 | 10.56 | 11.19 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — | — |
| Shares Outstanding | — | $59M | $54M | $38M | $34M | $30M | $31M | $32M | $32M |
Single asset clinical failure
As reported in recent financial statements, Pharvaris trades at a price-to-book ratio of 6.51, a valuation that appears to be driven entirely by the market's anticipation of clinical success for PHA121 rather than any underlying earnings power or tangible asset base currently held by the firm.
The absence of P/E and P/S multiples reflects the company's pre-revenue status, rendering traditional valuation metrics largely inapplicable. Investors should monitor whether this premium valuation holds as the company approaches critical Phase 3 readouts, as any clinical delay may lead to a significant compression of the current market capitalization relative to its peers.
Based on the company's quarterly filings, Pharvaris maintains a current ratio of 11.24 as of 2026Q1, which suggests a substantial cash buffer that, while providing short-term security, is being rapidly depleted by the intensive capital requirements of its ongoing clinical trial programs.
The high liquidity position is a direct result of previous equity raises rather than operational efficiency, and it should not be mistaken for a sustainable financial foundation. This liquidity provides the company with the necessary runway to reach key data milestones, but it also highlights the firm's ongoing dependence on external capital markets to fund its research activities.
According to the provided quarterly data, the company maintains a debt-to-equity ratio of 0.00, which, as noted in recent financial disclosures, is a structural necessity for a pre-revenue biotech firm that lacks the cash flow required to service traditional debt obligations.
The lack of leverage is not an indicator of financial strength but rather a reflection of the company's inability to access debt markets without diluting shareholders or incurring prohibitive interest costs. Investors should monitor the company's future financing strategy, as any shift toward debt financing would likely signal a significant change in the risk profile of the business.
As evidenced by the company's financial history, the price-to-book ratio is frequently misapplied to Pharvaris, as it obscures the fact that the firm's true value lies in its intellectual property and clinical pipeline rather than the accounting value of its physical assets or cash holdings.
Using book value to assess a pre-revenue biotechnology company ignores the massive, non-capitalized R&D investments that drive the firm's future potential. Analysts should instead focus on the cash runway relative to the timing of clinical readouts, as this provides a more accurate measure of the company's survival and potential for value creation.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying PHVS stock.
Pharvaris N.V.'s current P/E ratio is -9.8x. This places it at the 50th percentile of its historical range.
Pharvaris N.V.'s return on equity (ROE) is -65.2%. The historical average is -53.8%.
Based on historical data, Pharvaris N.V. is trading at a P/E of -9.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.