Latest Ratios: P/E Ratio -4.9x · EV/EBITDA N/A · ROE -38.2%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $251M | $191M | $141M | $99M | — | — | — | — |
| Enterprise Value | $216M | $157M | $65M | $24M | — | — | — | — |
| P/E Ratio → | -4.87 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | 49.31 | — | — | — | — |
| P/B Ratio | 2.23 | 1.72 | 0.91 | 1.08 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | 11.77 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | 100.0% | — | — | — | — |
| Operating Margin | — | — | — | -1537.0% | — | — | — | — |
| Net Profit Margin | — | — | — | -1393.8% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -38.2% | -38.2% | -36.9% | -30.6% | — | — | — | — |
| ROA | -36.9% | -36.9% | -35.5% | -43.0% | -66.3% | -38.2% | -28.4% | -127.8% |
| ROIC | -54.5% | -54.5% | -85.1% | — | — | — | — | — |
| ROCE | -42.6% | -42.6% | -44.1% | -51.7% | -73.6% | -38.4% | -29.9% | -155.9% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.31 | -0.49 | -0.82 | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | -221.83 |
Net cash position: cash ($35M) exceeds total debt ($78000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.82 | 22.82 | 34.30 | 17.09 | 6.21 | 24.04 | 35.99 | 5.21 |
| Quick Ratio | 22.82 | 22.82 | 34.30 | 17.09 | 6.21 | 24.04 | 35.99 | 5.21 |
| Cash Ratio | 22.18 | 22.18 | 33.96 | 16.78 | 6.13 | 23.25 | 35.97 | 4.92 |
| Asset Turnover | — | — | — | 0.02 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $32M | $31M | $18M | $22M | $22M | $22M | $22M |
Imminent capital dilution risk
Based on reported figures, Sagimet's forward EV/EBITDA of 2926.30 suggests that the market is pricing in significant future success for denifanstat, yet the lack of current revenue and negative P/E of -4.47 highlight the extreme reliance on binary clinical outcomes rather than fundamental earnings power.
The astronomical forward multiple indicates that investors are valuing the company as a long-duration option on MASH market penetration rather than a traditional operating entity. This valuation appears highly sensitive to clinical trial milestones, as any delay in the regulatory path could lead to a rapid compression of these multiples.
As reported in financial statements, Sagimet's ROIC has fluctuated significantly, reaching a low of -117.1% in 2023Q4 and remaining deeply negative at -12.3% in 2026Q1, reflecting the company's ongoing struggle to generate returns on the capital deployed into its intensive R&D-heavy clinical development programs.
The persistent negative return on invested capital is a structural feature of a pre-revenue biotech firm where capital is consumed to build intangible assets. Investors should monitor whether the recent Phase 2b results can eventually catalyze a shift toward positive returns, though current trends suggest continued capital erosion.
According to recent SEC filings, Sagimet's current ratio has declined from 43.12 in 2024Q1 to 20.34 in 2026Q1, indicating that while the company maintains a high ratio of current assets to liabilities, the absolute cash reserves are rapidly depleting to fund ongoing clinical trial operations.
The high current ratio is somewhat misleading because it is driven by the rapid consumption of cash rather than an accumulation of liquid working capital. The company's liquidity position appears increasingly vulnerable, suggesting that a capital raise may be required to sustain operations through the next phase of development.
Based on the company's pre-revenue status, traditional efficiency metrics like asset turnover and the cash conversion cycle are largely irrelevant, as they obscure the reality that Sagimet is a research-driven entity rather than a commercial enterprise with inventory or receivables to manage.
Analysts often misapply these ratios to evaluate operational performance, but they fail to capture the true driver of value, which is the progression of clinical trial endpoints. Instead of efficiency ratios, investors should focus on the cash burn rate relative to the timeline of the next major clinical data readout.
Includes 30+ ratios · 7 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying SGMT stock.
Sagimet Biosciences Inc.'s current P/E ratio is -4.9x. This places it at the 50th percentile of its historical range.
Sagimet Biosciences Inc.'s return on equity (ROE) is -38.2%. The historical average is -35.2%.
Based on historical data, Sagimet Biosciences Inc. is trading at a P/E of -4.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.