Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -521.6%. (2006–2025 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 | $89M | $12.0B | $25M | $14M | $33M | $38M | $23M | $34M | $48M | $35M | $17M |
| Enterprise Value | $83M | $12.0B | $12M | $2M | $25M | $22M | $22M | $32M | $45M | $33M | $16M |
| P/E Ratio → | -0.61 | — | 8.62 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | 4691.62 | 14599.36 | 28097.68 | 137074.21 | 4445.57 | 8486.31 |
| P/B Ratio | — | — | 1.52 | 3.77 | — | 5.34 | — | 84.83 | 41.37 | 22.81 | 244.69 |
| 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 | — | — | — | — | — | 2665.98 | 13941.87 | 26715.23 | 130227.07 | 4230.83 | 8191.02 |
| EV / EBITDA | — | — | 4.13 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 4.13 | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | -71796.9% | -203296.1% | -393853.2% | 100.0% | 100.0% | 100.0% |
| Operating Margin | — | — | — | — | — | -101363.6% | -361814.2% | -1009282.5% | -2140431.6% | -60766.7% | -127799.6% |
| Net Profit Margin | — | — | — | — | — | -118662.2% | -361814.2% | -615329.4% | -2140431.6% | -60838.5% | -128390.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -521.6% | -521.6% | 27.5% | -1815.5% | -677.4% | -314.5% | — | -951.7% | -555.1% | -597.4% | -768.0% |
| ROA | -282.8% | -282.8% | 17.1% | -152.3% | -113.5% | -81.1% | -327.4% | -293.5% | -290.6% | -305.1% | -242.7% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
| ROCE | -519.5% | -519.5% | -160.5% | -761.7% | -212.9% | -81.5% | — | -1561.0% | -555.1% | -596.7% | -764.4% |
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 | — | — | — | — | — | 0.69 | — | — | — | — | 1.74 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | -0.81 | -3.36 | — | -2.30 | — | -4.17 | -2.07 | -1.10 | -8.51 |
| Net Debt / EBITDA | — | — | -4.65 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | 37.20 | -88.57 | -63.04 | -22.52 | — | — | — | -846.52 | -161.04 |
Net cash position: cash ($6M) exceeds total debt ($0)
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 | 0.88 | 0.88 | 8.52 | 1.46 | 1.08 | 19.07 | 0.52 | 1.21 | 1.61 | 3.31 | 1.00 |
| Quick Ratio | 0.88 | 0.88 | 8.52 | 1.46 | 1.08 | 19.07 | 0.52 | 1.21 | 1.63 | 3.36 | 1.04 |
| Cash Ratio | 0.59 | 0.59 | 6.01 | 1.35 | 0.92 | 18.28 | 0.46 | 1.02 | 1.34 | 2.72 | 0.84 |
| Asset Turnover | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | 1216.41 | 100.59 | 1262.24 |
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 | — | — | 11.6% | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $1.8B | $1M | $491708 | $300104 | $231425 | $190400 | $173197 | $159463 | $137185 | $113264 |
Imminent liquidity and dilution
As reported in financial statements, ProMIS Neurosciences has struggled with deeply negative ROE and ROIC metrics, with ROE reaching -56.6% in 2025Q1, illustrating the company's inability to generate positive returns on capital while it remains in a pre-revenue, high-expenditure clinical development phase.
The consistent negative returns on capital are a direct consequence of the company's reliance on R&D spending without any offsetting commercial revenue. Investors should monitor whether the transition to clinical-stage testing for PMN310 can eventually lead to a pivot toward value creation, though current figures suggest capital is being consumed rather than compounded.
Based on the company's reported figures, the current ratio dropped to 0.88 in 2025Q4, indicating that the firm's immediate liquid assets are insufficient to cover its short-term liabilities as it advances its clinical trial programs, leaving little room for operational error.
The decline in the current ratio from 9.92 in 2026Q1 to 0.88 in 2025Q4 highlights a rapid depletion of the liquidity buffer. This trend suggests that the company may face significant pressure to secure additional funding, as the current cash position appears inadequate to sustain long-term clinical development without further dilution.
According to recent market data, ProMIS Neurosciences trades at a significant valuation discount compared to peers like ACADIA Pharmaceuticals, which maintains a positive ROE of 35.6%, reflecting the market's skepticism regarding the company's early-stage clinical pipeline and its lack of a commercialized product.
While peers like ACADIA have achieved commercial scale, ProMIS remains in a high-risk, pre-revenue stage, which explains the structural gap in valuation multiples. The market appears to be pricing in the high probability of future equity dilution, which is a common characteristic for firms in this specific segment of the biotechnology sector.
As indicated by the provided financial data, the use of P/E or EV/EBITDA ratios is fundamentally misapplied to ProMIS Neurosciences, as these metrics obscure the company's true financial health by ignoring the binary nature of clinical trial outcomes and the absence of recurring revenue.
Investors should instead focus on the 'cash runway' and the 'burn rate' as the primary indicators of operational viability. Relying on traditional valuation multiples in a pre-revenue context may lead to a false sense of security or an inaccurate assessment of the company's intrinsic value, which is tied to intellectual property rather than current earnings.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying PMN stock.
ProMIS Neurosciences, Inc.'s current P/E ratio is -0.6x. The historical average is 8.6x.
ProMIS Neurosciences, Inc.'s return on equity (ROE) is -521.6%. The historical average is -95.0%.
Based on historical data, ProMIS Neurosciences, Inc. is trading at a P/E of -0.6x. Compare with industry peers and growth rates for a complete picture.