Latest Ratios: P/E Ratio -0.5x · EV/EBITDA N/A · ROE -126.8%. (2012–2025 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 | $25M | $30M | $103M | $19M | $9M | $21M | $9M | $17M | $53M | $5M | $6M |
| Enterprise Value | $19M | $24M | $35M | $22M | $10M | $14M | $8M | $16M | $52M | $5M | $6M |
| P/E Ratio → | -0.50 | — | — | — | — | — | — | 16.54 | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.39 | 1.49 | 1.52 | — | — | 3.61 | 20.53 | 31.79 | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | 7.83 | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -126.8% | -126.8% | -80.5% | — | -1364.2% | -269.9% | -1313.7% | 192.0% | — | — | — |
| ROA | -110.7% | -110.7% | -62.7% | -357.6% | -205.4% | -136.1% | -281.1% | 53.2% | -1526.8% | -702.7% | -165.8% |
| ROIC | -597.3% | -597.3% | -3192.6% | -2123.2% | — | — | — | — | — | — | — |
| ROCE | -131.4% | -131.4% | -90.9% | — | -1247.9% | -200.5% | -432.2% | -646.5% | — | — | -345.2% |
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 | 0.01 | 0.01 | 0.01 | — | — | 0.36 | 3.32 | 0.71 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.28 | -1.00 | — | — | -1.17 | -2.16 | -2.63 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -26.45 | -40.54 | -28.34 | -10.10 | -8.29 | 2.04 | -201.53 | -4635.68 | — |
Net cash position: cash ($6M) exceeds total debt ($273646)
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 | 3.30 | 3.30 | 16.32 | 0.84 | 0.74 | 2.46 | 3.38 | 2.05 | 0.12 | 0.69 | 0.42 |
| Quick Ratio | 3.30 | 3.30 | 16.32 | 0.84 | 0.74 | 2.46 | 3.38 | 2.05 | 0.12 | 0.69 | 0.42 |
| Cash Ratio | 3.14 | 3.14 | 15.77 | 0.09 | 0.10 | 2.30 | 3.14 | 1.88 | 0.12 | 0.32 | 0.10 |
| 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 | 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 | — | — | — | — | — | — | — | 6.0% | — | — | — |
| 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 | — | $40M | $36M | $7M | $2M | $2M | $925683 | $532006 | $525780 | $120766 | $79652 |
Imminent liquidity exhaustion
As reported in financial statements, Skye Bioscience trades at a price-to-book ratio of 1.35, a valuation that appears disconnected from the company's lack of revenue and negative return metrics, suggesting that market pricing is driven entirely by speculative interest in the metabolic pipeline rather than fundamental value.
The absence of meaningful P/E or EV/EBITDA multiples reflects the company's pre-revenue status, rendering traditional valuation frameworks largely inapplicable. Investors should monitor whether the current premium over book value can be sustained as the company approaches potential liquidity events, as the market may be overestimating the probability of clinical success for Nimacimab.
Based on reported figures, the company's ROIC has remained deeply negative, reaching -123.9% in 2026Q1, which highlights a consistent decay in capital efficiency as the firm continues to deploy shareholder funds into high-cost clinical trials without generating any offsetting returns or commercial milestones to date.
The extreme volatility in ROIC, ranging from -3.1% to -182.4% over the last ten quarters, underscores the binary nature of the company's capital allocation. This trend suggests that the firm is currently destroying value at an accelerating rate, a reality that warrants further investigation into the efficacy of its R&D spending.
According to recent quarterly data, the current ratio has contracted significantly from 16.32 in 2024Q4 to 1.78 in 2026Q1, indicating that the company's ability to cover short-term obligations is rapidly diminishing as cash reserves are depleted by ongoing clinical development and administrative overhead costs.
The rapid decline in the quick ratio suggests that the company's liquidity position is becoming increasingly fragile, leaving little room for error in trial execution. Investors should monitor the cash runway closely, as the current trajectory appears to necessitate further dilutive financing to avoid a potential liquidity crisis.
The price-to-book ratio is frequently misapplied to Skye Bioscience, as it obscures the reality that the company's primary assets are intangible clinical trial data rather than tangible property, plant, or equipment, which provides little protection for shareholders in the event of a failed clinical trial outcome.
Relying on P/B for a development-stage biotech is misleading because it ignores the massive accumulated deficit and the high probability of future equity dilution. A more appropriate focus would be the cash-burn-to-market-cap ratio, which better captures the existential risk inherent in the company's current funding structure.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying SKYE stock.
Skye Bioscience, Inc.'s current P/E ratio is -0.5x. The historical average is 16.5x.
Skye Bioscience, Inc.'s return on equity (ROE) is -126.8%. The historical average is -54.7%.
Based on historical data, Skye Bioscience, Inc. is trading at a P/E of -0.5x. Compare with industry peers and growth rates for a complete picture.