Latest Ratios: P/E Ratio 5.3x · EV/EBITDA 7.6x · ROE 125.1%. (2016–2025 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 | $164M | $41M | $42M | $35M | $72M | $201M | $518M | $872M | $638M | — | — |
| Enterprise Value | $131M | $8M | $-17104204 | $60M | $73M | $117M | $316M | $818M | $600M | — | — |
| P/E Ratio → | 5.32 | 1.37 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.06 | 0.76 | — | — | 10.87 | 5.92 | 191.83 | 523.31 | 119.96 | — | — |
| P/B Ratio | 3.77 | 0.97 | 7.39 | — | — | 1.19 | 2.64 | 3.37 | 3.25 | — | — |
| 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 | — | 0.15 | — | — | 11.00 | 3.44 | 117.08 | 491.03 | 112.78 | — | — |
| EV / EBITDA | 7.60 | 0.46 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 7.78 | 0.47 | — | — | — | — | — | — | — | — | — |
| 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 | 99.3% | 99.3% | — | 100.0% | 100.0% | 71.9% | 100.0% | 100.0% | 100.0% | — | — |
| Operating Margin | 31.5% | 31.5% | — | 725.5% | -589.8% | -282.4% | -4821.0% | -6599.2% | -1126.0% | — | — |
| Net Profit Margin | 55.5% | 55.5% | — | 808.0% | -643.6% | -281.9% | -4762.9% | -6237.5% | -1044.3% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 125.1% | 125.1% | -841.1% | — | -219.9% | -52.4% | -56.6% | -45.7% | -37.7% | -56.7% | -107.3% |
| ROA | 38.7% | 38.7% | -68.5% | -98.8% | -31.3% | -40.3% | -44.8% | -36.5% | -28.0% | -39.5% | -56.6% |
| ROIC | — | — | — | — | — | -181.7% | -98.3% | -45.4% | -43.9% | -103.8% | — |
| ROCE | 26.8% | 26.8% | -121.5% | -261.8% | -39.5% | -44.1% | -48.3% | -41.1% | -32.8% | -43.5% | -127.5% |
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 | 0.37 | 0.37 | 3.33 | — | — | 0.14 | 0.08 | — | — | — | — |
| Debt / EBITDA | 0.89 | 0.89 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.78 | -10.41 | — | — | -0.50 | -1.03 | -0.21 | -0.19 | -0.52 | -1.52 |
| Net Debt / EBITDA | -1.91 | -1.91 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | -11.41 | — |
| Interest Coverage | 15.37 | 15.37 | -152.62 | — | — | — | — | — | — | — | — |
Net cash position: cash ($48M) exceeds total debt ($15M)
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 | 4.85 | 4.85 | 4.97 | 2.04 | 0.81 | 11.14 | 9.69 | 21.54 | 9.84 | 14.85 | 1.88 |
| Quick Ratio | 4.85 | 4.85 | 4.97 | 2.04 | 0.78 | 11.14 | 9.69 | 21.54 | 9.84 | 14.85 | 1.88 |
| Cash Ratio | 4.26 | 4.26 | 4.74 | 1.82 | 0.76 | 9.05 | 9.60 | 21.20 | 9.54 | 14.63 | 1.79 |
| Asset Turnover | — | 0.87 | — | -0.14 | 0.11 | 0.16 | 0.01 | 0.01 | 0.02 | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | -41.43 | 58.39 | — | 54.03 | 87.64 | 54.87 | — | — |
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 | 18.8% | 72.9% | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $12M | $12M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M |
Clinical milestone funding dependency
As reported in financial statements, QTTB's P/E ratio of 5.44 is fundamentally misleading, as it reflects non-recurring milestone revenue rather than sustainable earnings, suggesting that investors should disregard traditional valuation multiples in favor of a sum-of-the-parts assessment of the company's clinical-stage pipeline assets.
The current P/E multiple is an artifact of episodic accounting gains that do not represent the firm's long-term earning power. Given the lack of commercial products, applying earnings-based valuation metrics to QTTB appears inappropriate and may lead to a significant mispricing of the underlying clinical risk.
Based on QTTB's reported figures, the ROIC of -101.2% in 2026Q1 underscores the company's current status as a capital-consuming entity, where the heavy investment in R&D for ADX-097 and Bempikibart significantly outweighs the sporadic, milestone-driven inflows that characterize the firm's current financial performance.
The extreme negative return on capital is typical for a pre-commercial biotech but warrants close monitoring as the company scales its Phase II trials. Investors should interpret these figures as a measure of the cost of innovation rather than an indicator of operational inefficiency.
According to recent SEC filings, the current ratio of 5.36 provides a superficial appearance of strength, yet this liquidity is rapidly depleting as the company funds multiple concurrent Phase II programs without a self-sustaining commercial revenue stream to replenish its cash reserves over time.
While the current ratio appears healthy compared to historical levels, it masks the underlying cash burn rate that necessitates frequent capital market access. The reliance on equity financing to maintain this liquidity position suggests that the company's financial flexibility is highly sensitive to broader market conditions.
As indicated by the company's financial history, the 99.27% gross margin is frequently misapplied by market participants as a sign of operational efficiency, when it is actually a transient artifact of milestone-based revenue recognition that obscures the true cost of clinical development and manufacturing.
Analysts should focus on R&D intensity and cash burn rates rather than gross margins, which are essentially meaningless for a firm without commercial product sales. Relying on these margins may lead to an overestimation of the company's ability to generate sustainable profits once it eventually reaches the commercial stage.
Includes 30+ ratios · 10 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying QTTB stock.
Q32 Bio Inc.'s current P/E ratio is 5.3x. The historical average is 1.4x. This places it at the 100th percentile of its historical range.
Q32 Bio Inc.'s current EV/EBITDA is 7.6x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 0.5x.
Q32 Bio Inc.'s return on equity (ROE) is 125.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -56.4%.
Based on historical data, Q32 Bio Inc. is trading at a P/E of 5.3x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Q32 Bio Inc. has 99.3% gross margin and 31.5% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
Q32 Bio Inc.'s Debt/EBITDA ratio is 0.9x, indicating low leverage. A ratio below 2x is generally considered financially healthy.