Latest Ratios: P/E Ratio -1.0x · EV/EBITDA N/A · ROE -109.2%. (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 | $71M | $67M | $17M | $110M | $50M | $203M | $1.1B | — | — |
| Enterprise Value | $23M | $19M | $-19090014 | $18M | $32M | $167M | $952M | — | — |
| P/E Ratio → | -1.02 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | 3.44 | 10.90 | — | — | — | — | — |
| P/B Ratio | 0.93 | 1.57 | 0.59 | 1.44 | 0.73 | 1.82 | 7.38 | — | — |
| 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 | — | — | -3.89 | 1.81 | — | — | — | — | — |
| 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 | — | — | 100.0% | 100.0% | — | — | — | — | — |
| Operating Margin | — | — | -1143.4% | -515.3% | — | — | — | — | — |
| Net Profit Margin | — | — | -1079.9% | -475.0% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -109.2% | -109.2% | -100.7% | -66.1% | -51.4% | -32.4% | -49.7% | — | — |
| ROA | -79.3% | -79.3% | -71.1% | -50.5% | -43.5% | -29.2% | -35.3% | -279.6% | -206.5% |
| ROIC | — | — | — | -222.2% | -56.5% | -85.5% | — | — | — |
| ROCE | -100.2% | -100.2% | -102.6% | -68.1% | -49.6% | -31.1% | -38.3% | -1066.0% | -481.7% |
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 | 0.02 | 0.02 | 0.10 | 0.06 | 0.09 | 0.06 | 0.04 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.13 | -1.25 | -1.20 | -0.27 | -0.33 | -1.01 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -431.96 | -431.96 | -171.76 | -98.21 | -108.95 | -121.59 | -91.07 | -200.35 | — |
Net cash position: cash ($49M) exceeds total debt ($736000)
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 | 5.17 | 5.17 | 2.90 | 4.18 | 6.72 | 10.36 | 16.43 | 1.08 | 1.76 |
| Quick Ratio | 5.17 | 5.17 | 2.90 | 4.18 | 6.72 | 10.36 | 16.43 | 1.08 | 1.76 |
| Cash Ratio | 4.85 | 4.85 | 2.54 | 3.94 | 6.35 | 10.03 | 16.10 | 0.91 | 1.52 |
| Asset Turnover | — | — | 0.11 | 0.10 | — | — | — | — | — |
| 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% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $766598 | $536444 | $500633 | $611705 | $607397 | $604770 | $578853 | $19875 |
Clinical trial failure risk
As reported in recent financial statements, SPRB's price-to-book ratio of 0.99 suggests the market is pricing the company near its liquidation value, reflecting deep skepticism regarding the clinical viability of its lead asset following the failure of the CAHmelia-203 trial to meet primary endpoints.
The current valuation multiple indicates that investors assign negligible value to the company's pipeline, effectively treating the firm as a cash-holding vehicle rather than a growth-oriented biotechnology entity. This valuation gap relative to peers like Corcept Therapeutics suggests that the market requires significant clinical de-risking before assigning any premium to the company's future therapeutic potential.
Based on quarterly filings, the company's quick ratio of 4.67 in 2026Q1 appears superficially healthy, yet this metric masks the reality that the firm is rapidly consuming its cash reserves to fund ongoing clinical trials without any offsetting revenue streams to sustain long-term operations.
While the high quick ratio indicates an absence of immediate short-term liabilities, the rapid erosion of cash balances warrants close monitoring by investors concerned with the company's ability to reach future data readouts. The lack of revenue-generating assets means that liquidity is entirely dependent on the current cash pile, which is being depleted at an unsustainable rate.
According to recent balance sheet data, SPRB maintains a low debt-to-equity ratio of 0.21, which, while appearing conservative, reflects the company's limited access to traditional credit markets due to its persistent operating losses and lack of tangible collateral to secure meaningful debt financing.
The negative interest coverage ratio of -17.78 underscores the company's inability to service debt through operations, making any future reliance on debt financing highly improbable without significant equity dilution. Investors should interpret this low leverage not as a sign of financial strength, but as a structural limitation inherent to pre-revenue biotechnology firms.
The price-to-book ratio is frequently misapplied to SPRB, as it obscures the fact that the company's primary value resides in intangible intellectual property and clinical trial data rather than the physical assets that typically underpin book value in more traditional industrial business models.
Relying on book value for a clinical-stage biotech firm ignores the potential for binary outcomes where the value of the pipeline could either evaporate or appreciate significantly based on regulatory decisions. A more appropriate analytical framework would involve probability-weighted net present value (rNPV) models that account for the specific clinical success rates of the tildacerfont program.
Includes 30+ ratios · 8 years · Updated daily
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Quick answers to the most common questions about buying SPRB stock.
Spruce Biosciences, Inc.'s current P/E ratio is -1.0x. This places it at the 50th percentile of its historical range.
Spruce Biosciences, Inc.'s return on equity (ROE) is -109.2%. The historical average is -68.3%.
Based on historical data, Spruce Biosciences, Inc. is trading at a P/E of -1.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.