Latest Ratios: P/E Ratio -54.0x · EV/EBITDA N/A · ROE -66.9%. (2006–2025 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 | $1.9B | $411M | $64M | $29M | $46M | $86M | $46M | $11M | $16M | $18M | $55M |
| Enterprise Value | $1.9B | $340M | $51M | $28M | $30M | $65M | $12M | $4M | $11M | $27M | $53M |
| P/E Ratio → | -54.00 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | 45.77 | 11.26 | 24.39 | — | — | — | — |
| P/B Ratio | 20.77 | 5.80 | 6.72 | — | 9.44 | 4.21 | 1.66 | 1.81 | 3.07 | 8.82 | 1.92 |
| 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 | — | — | — | — | 29.59 | 8.55 | 6.33 | — | — | — | — |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | 90.0% | 97.4% | 100.0% | — | — | — | — |
| Operating Margin | — | — | — | — | -4195.0% | -332.8% | -893.8% | — | — | — | — |
| Net Profit Margin | — | — | — | — | -4130.1% | -272.4% | -881.9% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -66.9% | -66.9% | -4147.9% | — | -327.8% | -85.7% | -98.4% | -340.3% | -756.5% | -154.6% | -111.7% |
| ROA | -54.9% | -54.9% | -240.8% | -274.9% | -174.4% | -57.1% | -53.5% | -115.1% | -109.7% | -47.8% | -31.8% |
| ROIC | — | — | — | — | — | — | — | — | -445.0% | -62.5% | -154.8% |
| ROCE | -69.6% | -69.6% | -2619.5% | — | -312.2% | -91.7% | -75.4% | -180.1% | -317.5% | -70.8% | -52.9% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | 0.11 | — | 0.19 | 0.04 | 0.04 | 0.04 | — | 5.31 | 0.57 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.00 | -1.36 | — | -3.34 | -1.01 | -1.23 | -1.16 | -1.02 | 4.19 | -0.06 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | -145.83 | -108.20 | -49.87 | -4.56 |
Net cash position: cash ($72M) exceeds total debt ($1M)
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 | 10.72 | 10.72 | 1.72 | 0.23 | 1.14 | 4.63 | 2.99 | 1.56 | 0.98 | 0.53 | 1.23 |
| Quick Ratio | 10.72 | 10.72 | 1.72 | 0.23 | 1.14 | 4.63 | 2.99 | 1.56 | 0.98 | 0.53 | 1.23 |
| Cash Ratio | 10.25 | 10.25 | 1.46 | 0.18 | 1.10 | 4.31 | 2.86 | 1.38 | 0.89 | 0.09 | 0.59 |
| Asset Turnover | — | — | — | — | 0.05 | 0.29 | 0.04 | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | 216.69 | — | — | — | — |
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 | — | — | — | — | — | — | — | — | 3.0% | 3.7% | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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% | 3.0% | 3.7% | 0.0% |
| Shares Outstanding | — | $109M | $61M | $28M | $19M | $15M | $8M | $3M | $261542 | $46807 | $18948 |
Binary clinical trial failure
Based on reported financial data, the company trades at a price-to-book ratio of 19.06, which reflects significant market skepticism regarding the probability of technical success for the REGAL trial compared to more established peers like Halozyme Therapeutics, which command vastly different valuation premiums.
The elevated P/B ratio is a function of the company's minimal tangible asset base rather than earnings-driven growth, as the firm remains pre-revenue. Investors appear to be pricing in a binary outcome where the current valuation is essentially a call option on the clinical data readouts rather than a reflection of fundamental operational performance.
According to historical financial statements, the company's ROIC has remained consistently negative, bottoming at -13.0% in 2026Q1, which underscores the inherent difficulty of generating positive returns on invested capital while the firm is entirely focused on high-cost, non-revenue-generating clinical research and development activities.
The persistent decay in return metrics is expected for a firm in this stage of the biotech lifecycle, as capital is deployed into long-duration assets that have yet to reach commercialization. This trend warrants monitoring to see if future clinical milestones can eventually pivot the firm toward a positive return trajectory.
As reported in recent SEC filings, the company's current ratio improved significantly to 17.22 in 2026Q1, providing a substantial liquidity cushion that appears sufficient to fund the ongoing Phase 3 REGAL trial and mitigate immediate concerns regarding the firm's ability to meet its short-term obligations.
This liquidity position is a direct result of recent equity financing, which has successfully transitioned the firm from a vulnerable state in 2023Q4 to a more stable footing. However, this liquidity is highly sensitive to the burn rate, and any delays in trial timelines could rapidly erode this current safety margin.
Based on reported figures, the company maintains a negligible debt-to-equity ratio of 0.01, indicating that management has avoided traditional debt financing in favor of equity-based capital raises to fund its research operations, thereby minimizing interest coverage risks during this pre-commercial phase of development.
While the lack of debt reduces the risk of insolvency, it also highlights the company's total reliance on the equity markets for survival. This capital structure strategy is typical for the industry but leaves shareholders highly exposed to the dilutive effects of future financing rounds required to reach commercialization.
As indicated by the company's financial statements, the use of price-to-sales multiples is fundamentally misapplied to this business model, as the firm currently generates zero revenue, rendering traditional valuation metrics based on top-line performance entirely irrelevant for assessing the company's true intrinsic value.
Analysts should instead focus on the cash runway ratio and the probability-adjusted net present value of the clinical pipeline. Relying on revenue-based multiples in a pre-commercial biotech context obscures the reality that the firm's value is derived from intellectual property and clinical trial progress rather than current sales.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying SLS stock.
SELLAS Life Sciences Group, Inc.'s current P/E ratio is -54.0x. This places it at the 50th percentile of its historical range.
SELLAS Life Sciences Group, Inc.'s return on equity (ROE) is -66.9%. The historical average is -210.6%.
Based on historical data, SELLAS Life Sciences Group, Inc. is trading at a P/E of -54.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.