Latest Ratios: P/E Ratio -2.8x · EV/EBITDA N/A · ROE -53.5%. (1996–2025 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 | $2.1B | $2.3B | $13.1B | $8.9B | $11.3B | $7.3B | $13.3B | $9.5B | $7.2B | $3.3B | $1.3B |
| Enterprise Value | $2.3B | $2.5B | $13.4B | $9.9B | $12.0B | $6.4B | $12.9B | $9.4B | $7.3B | $3.1B | $1.2B |
| P/E Ratio → | -2.78 | — | 51.96 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.95 | 1.03 | 6.90 | 7.17 | 12.16 | 10.43 | 24.61 | 24.94 | 24.02 | 21.17 | 246.40 |
| P/B Ratio | 1.82 | 1.98 | 8.59 | 10.37 | 29.47 | 7.89 | 17.45 | 11.61 | 7.00 | 4.15 | 3.97 |
| P/FCF | — | — | — | — | — | — | 526.07 | — | — | — | — |
| P/OCF | — | — | — | — | — | — | 123.67 | — | — | — | — |
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 | — | 1.13 | 7.02 | 7.95 | 12.86 | 9.05 | 23.85 | 24.69 | 24.18 | 20.08 | 226.80 |
| EV / EBITDA | — | — | 52.21 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 47.84 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | 509.89 | — | — | — | — |
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 | 59.9% | 59.9% | 83.2% | 87.9% | 85.0% | 86.2% | 88.3% | 85.1% | 88.6% | 95.2% | 97.6% |
| Operating Margin | -29.9% | -29.9% | 11.5% | -21.5% | -57.5% | -65.5% | -104.5% | -185.3% | -114.1% | -111.0% | -4920.3% |
| Net Profit Margin | -32.5% | -32.5% | 12.4% | -43.1% | -75.4% | -59.7% | -102.6% | -187.8% | -120.2% | -32.8% | -4930.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -53.5% | -53.5% | 19.7% | -86.2% | -107.2% | -49.6% | -70.1% | -77.3% | -39.7% | -9.0% | -101.4% |
| ROA | -19.5% | -19.5% | 6.5% | -16.8% | -22.4% | -13.7% | -23.1% | -41.3% | -24.5% | -5.9% | -76.6% |
| ROIC | -31.4% | -31.4% | 9.1% | -14.0% | -80.3% | -216.5% | -78.8% | -58.7% | -30.3% | -30.3% | -110.0% |
| ROCE | -24.0% | -24.0% | 7.5% | -10.5% | -20.6% | -17.5% | -27.3% | -46.6% | -25.6% | -21.9% | -95.2% |
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 | 0.91 | 0.91 | 0.88 | 1.63 | 4.20 | 1.24 | 1.44 | 0.90 | 0.41 | 0.55 | 0.05 |
| Debt / EBITDA | — | — | 5.25 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.21 | 0.16 | 1.13 | 1.69 | -1.04 | -0.54 | -0.12 | 0.05 | -0.21 | -0.32 |
| Net Debt / EBITDA | — | — | 0.94 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | -16.18 | — | — | — | — |
| Interest Coverage | -71.16 | -71.16 | 15.18 | -22.63 | -11.96 | -5.60 | -8.23 | -22.28 | -9.76 | -7.41 | -140.98 |
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 | 2.32 | 2.32 | 4.20 | 3.95 | 4.13 | 5.75 | 5.97 | 5.55 | 8.21 | 13.91 | 4.95 |
| Quick Ratio | 1.48 | 1.48 | 3.18 | 3.45 | 3.80 | 5.34 | 5.42 | 4.90 | 7.49 | 12.96 | 4.78 |
| Cash Ratio | 0.86 | 0.86 | 1.85 | 2.56 | 3.21 | 4.67 | 4.66 | 4.25 | 6.76 | 12.22 | 4.21 |
| Asset Turnover | — | 0.66 | 0.48 | 0.38 | 0.30 | 0.22 | 0.18 | 0.21 | 0.18 | 0.12 | 0.01 |
| Inventory Turnover | 0.96 | 0.96 | 0.43 | 0.47 | 0.69 | 0.52 | 0.27 | 0.33 | 0.27 | 0.09 | 0.01 |
| Days Sales Outstanding | — | 66.12 | 124.69 | 128.28 | 102.34 | 89.83 | 93.65 | 90.03 | 59.47 | 69.58 | 352.01 |
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 | — | — | 1.9% | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | 0.2% | — | — | — | — |
| Buyback Yield | 1.2% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.2% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $105M | $108M | $92M | $88M | $81M | $78M | $74M | $66M | $59M | $49M |
Manufacturing and reimbursement volatility
Based on reported figures, SRPT trades at a price-to-sales ratio of 0.81, which appears to discount the company's long-term growth potential relative to peers like Alnylam, suggesting that investors remain skeptical of the sustainability of gene therapy revenue following the recent label expansion.
The forward P/E of 4.78 implies that the market is pricing in a rapid transition to profitability, yet this valuation is highly sensitive to the volatility of milestone payments and the lumpy nature of gene therapy revenue. Investors should monitor whether this low multiple reflects a structural lack of confidence in the long-term DMD market share or merely a reaction to the company's historical earnings instability.
As reported in financial statements, SRPT's ROIC has fluctuated between -18.5% and 15.6% over the last ten quarters, indicating that the company is struggling to consistently generate returns on its invested capital while simultaneously scaling its complex viral vector manufacturing infrastructure for commercial distribution.
The erratic nature of these returns suggests that the company's capital allocation is currently dominated by the high costs of clinical development and manufacturing capacity expansion rather than operational efficiency. Until the gene therapy platform achieves consistent, high-margin throughput, investors should expect ROIC to remain volatile and potentially dilutive to shareholder value.
According to recent SEC filings, SRPT's cash conversion cycle has shown extreme variability, peaking at 694 days in 2025Q3, which highlights the significant logistical challenges and inventory management hurdles inherent in the production and delivery of high-value, patient-specific gene therapies.
The high DSO and DIO figures suggest that the company faces substantial friction in collecting payments and managing inventory, which is typical for a business transitioning from chronic infusions to one-time treatments. This inefficiency warrants further investigation into whether the company can optimize its supply chain to reduce the cash-to-cash cycle as the commercial launch matures.
Based on reported figures, SRPT's debt-to-equity ratio has improved to 0.69 in 2026Q1 from a peak of 1.63, yet the company's interest coverage remains inconsistent, reflecting a reliance on external financing to manage the high fixed-cost base of its specialized biologics manufacturing operations.
While the deleveraging trend is a positive signal, the company's ability to service its debt remains tethered to the lumpy revenue recognition of its gene therapy portfolio. Investors should monitor the company's ability to maintain liquidity without further dilutive equity raises, especially given the persistent negative retained earnings observed in recent periods.
The P/E ratio is frequently misapplied to SRPT, as it fails to account for the lumpy, non-recurring nature of milestone payments and the significant R&D investments that mask the underlying earning power of the company's recurring PMO therapeutic infusion business model.
Using P/E to value this business obscures the true economic value of the recurring revenue streams by penalizing the company for necessary, high-intensity R&D spending. Analysts should instead focus on EV/Sales or adjusted cash flow metrics that normalize for the timing of collaboration revenue and the high cost of goods associated with gene therapy manufacturing.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SRPT stock.
Sarepta Therapeutics, Inc.'s current P/E ratio is -2.8x. The historical average is 52.0x.
Sarepta Therapeutics, Inc.'s return on equity (ROE) is -53.5%. The historical average is -83.8%.
Based on historical data, Sarepta Therapeutics, Inc. is trading at a P/E of -2.8x. Compare with industry peers and growth rates for a complete picture.
Sarepta Therapeutics, Inc. has 59.9% gross margin and -29.9% operating margin.