Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -833.5%. (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 | $8M | $5M | $24M | $23M | $5.6B | $10.5B | — | — | — |
| Enterprise Value | $-9792981 | $-13102781 | $18M | $21M | $5.6B | $10.5B | — | — | — |
| P/E Ratio → | -0.16 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.56 | 0.46 | — | 14.10 | 1743.07 | 516.16 | — | — | — |
| 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 | -833.5% | -833.5% | — | -759.9% | -148.6% | -80.5% | — | — | — |
| ROA | -40.9% | -40.9% | -268.8% | -290.7% | -115.1% | -57.0% | -368.5% | -281.5% | -211.3% |
| ROIC | — | — | — | — | — | — | — | — | — |
| ROCE | -34.2% | -34.2% | -505.0% | -789.4% | -157.9% | -58.4% | -180.7% | -364.4% | -396.0% |
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 | — | — | — | 0.27 | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.72 | — | -1.41 | -1.53 | -1.02 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -5203.81 | -5203.81 | -623.88 | -330.78 | -1.00 | -70.98 | -4.94 | -2.87 | — |
Net cash position: cash ($18M) 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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.29 | 6.29 | 2.56 | 1.28 | 1.70 | 8.97 | 2.05 | 3.25 | 1.82 |
| Quick Ratio | 6.29 | 6.29 | 2.56 | 1.28 | 1.70 | 8.97 | 2.05 | 3.25 | 1.82 |
| Cash Ratio | 5.10 | 5.10 | 2.10 | 0.79 | 1.15 | 8.22 | 2.05 | 3.25 | 1.81 |
| 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 | — | $689713 | $356115 | $5424 | $16221 | $10532 | $7979 | $6407 | $192 |
Clinical Trial Funding Runway
Based on reported figures, the company's P/B ratio of 0.33 suggests that the market is heavily discounting the firm's book value, reflecting deep skepticism regarding the long-term commercial viability of the proprietary iron oxide nanoparticle delivery platform relative to established RNA therapeutic peers.
The current valuation appears to be driven by binary clinical outcomes rather than traditional earnings-based multiples, which are non-existent for this pre-revenue entity. Investors should monitor whether this discount persists as the company progresses through Phase 1 trials, as the market may be pricing in significant future dilution risks.
As reported in recent financial statements, the company's ROIC of -8.9% in 2026Q1 highlights the inherent difficulty of generating positive returns on invested capital while the firm remains in a purely experimental, capital-intensive phase of its development cycle.
The persistent negative return profile is a structural feature of the business model, where capital is deployed into R&D with no immediate revenue offset. This trend suggests that until the IONP platform achieves clinical validation, shareholders should expect continued erosion of capital efficiency.
According to quarterly data, the current ratio of 3.11 in 2026Q1 appears superficially healthy, yet this metric masks the rapid depletion of cash reserves required to sustain ongoing clinical trial operations in the absence of any recurring revenue streams.
While the current ratio suggests an ability to cover short-term obligations, the lack of operational cash flow makes the company highly vulnerable to liquidity shocks. Investors should interpret this liquidity position as a temporary bridge that necessitates frequent and potentially dilutive capital market access.
As indicated by the provided financial data, the current ratio is a frequently misapplied metric for this business model, as it fails to account for the high burn rate associated with clinical-stage biotech development and the lack of predictable working capital cycles.
Relying on the current ratio to assess solvency obscures the reality that the company's primary asset is its intellectual property, not its liquid current assets. A more appropriate metric for this stage would be the 'cash runway' measured in months, which provides a clearer picture of the firm's survival horizon.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying RNAZ stock.
TransCode Therapeutics, Inc.'s current P/E ratio is -0.2x. This places it at the 50th percentile of its historical range.
TransCode Therapeutics, Inc.'s return on equity (ROE) is -833.5%. The historical average is -114.6%.
Based on historical data, TransCode Therapeutics, Inc. is trading at a P/E of -0.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.