Latest Ratios: P/E Ratio -3.4x · EV/EBITDA N/A · ROE -107.9%. (2017–2026 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $966M | $710M | $785M | $544M | $1.0B | $887M | $1.4B | $342M | $353M | — | — |
| Enterprise Value | $785M | $529M | $751M | $545M | $942M | $813M | $1.3B | $324M | $334M | — | — |
| P/E Ratio → | -3.41 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 6.43 | 4.27 | 1.89 | 1.45 | 1.85 | 2.16 | 2.83 | 1.86 | 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 2026 | 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 2026 | 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 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -107.9% | -107.9% | -62.6% | -46.4% | -36.1% | -25.9% | -23.7% | -32.7% | -56.2% | — | — |
| ROA | -71.0% | -71.0% | -47.6% | -38.0% | -31.5% | -23.5% | -20.8% | -27.1% | -28.1% | -44.8% | -33.8% |
| ROIC | -131.0% | -131.0% | -51.9% | -41.7% | -32.9% | -26.5% | -24.1% | -29.6% | -63.5% | — | — |
| ROCE | -83.8% | -83.8% | -55.9% | -44.3% | -33.6% | -25.1% | -22.0% | -30.7% | -30.3% | -47.6% | -46.3% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.18 | 0.20 | 0.11 | 0.08 | 0.07 | 0.23 | 0.05 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.09 | -0.08 | 0.00 | -0.15 | -0.18 | -0.30 | -0.10 | -0.14 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -35.50 | -35.50 | -32.92 | -34.96 | -41.87 | -53.52 | -26.35 | -27.68 | — | — | — |
Net cash position: cash ($209M) exceeds total debt ($28M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2026 | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.79 | 4.79 | 7.95 | 10.72 | 17.52 | 19.46 | 33.25 | 14.68 | 14.26 | 12.53 | 11.29 |
| Quick Ratio | 4.79 | 4.79 | 7.95 | 10.72 | 17.52 | 19.46 | 33.25 | 14.68 | 14.26 | 12.53 | 11.29 |
| Cash Ratio | 4.62 | 4.62 | 7.76 | 10.40 | 17.25 | 19.06 | 32.74 | 14.20 | 13.64 | 11.92 | 10.37 |
| 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 2026 | 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 2026 | 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% | 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 | — | $93M | $81M | $67M | $58M | $52M | $46M | $34M | $23M | $31M | $31M |
Clinical trial funding exhaustion
According to current market data, Replimune trades at a price-to-book ratio of 2.25, which suggests investors are assigning a platform premium to the company's proprietary HSV-1 technology despite the absence of any commercial revenue or positive earnings to support traditional valuation multiples.
The lack of P/E or EV/EBITDA metrics reflects the company's pre-revenue status, making book value the primary anchor for market sentiment. This valuation appears to hinge entirely on the perceived probability of success for the Immulytic platform rather than current financial performance, warranting caution regarding potential downside if clinical milestones are missed.
As reported in financial statements, Replimune's ROIC has trended downward from -10.0% in 2024Q3 to -26.9% in 2026Q3, indicating that the company is currently destroying capital as it intensifies its R&D spending without generating any offsetting operational returns.
The consistent decline in return metrics is a direct consequence of the high-burn clinical development phase, where capital is deployed into long-term assets and R&D with no immediate commercial output. Investors should monitor whether this trend stabilizes as the company approaches potential regulatory milestones, as current levels suggest significant value erosion.
Based on recent SEC filings, the company's current ratio has compressed from 12.40 in 2024Q3 to 5.60 in 2026Q3, signaling a tightening liquidity position as the firm consumes its cash reserves to fund ongoing clinical trial operations and internal manufacturing infrastructure.
While a current ratio of 5.60 remains technically healthy, the rapid downward trajectory suggests that the company's cash-to-burn ratio is narrowing significantly. This trend implies that the firm may face increased pressure to access capital markets for further dilution if clinical timelines extend beyond current projections.
According to quarterly data, Replimune's debt-to-equity ratio has risen to 0.36 in 2026Q3 from 0.13 in 2024Q2, which, while modest in absolute terms, represents an increasing burden for a company that lacks the recurring revenue streams necessary to service debt obligations.
The negative interest coverage ratio of -35.15 confirms that the company is entirely reliant on equity financing to cover its interest expenses. Any further increase in leverage without a corresponding shift toward commercialization could create significant financial fragility, particularly in a high-interest-rate environment.
As noted in industry research, the price-to-book ratio is frequently misapplied to clinical-stage biotech firms like Replimune, as it fails to capture the intangible value of the company's proprietary viral vector platform and the potential future cash flows from its late-stage clinical pipeline.
Investors should instead focus on the cash runway and the probability-weighted net present value of the lead assets, as book value is heavily skewed by the historical cost of the Woburn manufacturing facility. Relying on P/B may lead to an undervaluation of the company's strategic intellectual property and its potential as an acquisition target.
Includes 30+ ratios · 10 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying REPL stock.
Replimune Group, Inc.'s current P/E ratio is -3.4x. This places it at the 50th percentile of its historical range.
Replimune Group, Inc.'s return on equity (ROE) is -107.9%. The historical average is -48.9%.
Based on historical data, Replimune Group, Inc. is trading at a P/E of -3.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.