Latest Ratios: P/E Ratio -69.7x · EV/EBITDA 48.3x · ROE -3.7%. (2008–2025 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 | $2.7B | $2.8B | $2.0B | $1.6B | $2.2B | $1.6B | $1.4B | $1.3B | $1.8B | $2.1B | $1.3B |
| Enterprise Value | $2.6B | $2.7B | $2.0B | $1.6B | $2.6B | $1.8B | $1.5B | $1.5B | $1.9B | $2.1B | $1.2B |
| P/E Ratio → | -69.72 | — | 27.39 | 1221.10 | 34.30 | 29.76 | 10.66 | 11.30 | 16.20 | 36.90 | 14.35 |
| P/S Ratio | 3.80 | 3.90 | 3.06 | 2.64 | 3.30 | 2.73 | 2.60 | 3.25 | 4.40 | 7.03 | 6.07 |
| P/B Ratio | 2.52 | 2.64 | 1.95 | 1.74 | 2.48 | 1.94 | 1.81 | 2.14 | 3.97 | 7.94 | 6.81 |
| P/FCF | 59.36 | 61.00 | 11.82 | 14.53 | 18.90 | 12.67 | 10.01 | 9.09 | 14.02 | 18.86 | 20.02 |
| P/OCF | 57.68 | 59.28 | 11.77 | 14.46 | 18.83 | 12.47 | 9.76 | 8.92 | 13.93 | 18.53 | 19.54 |
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 | — | 3.78 | 3.00 | 2.59 | 3.82 | 3.12 | 2.84 | 3.75 | 4.73 | 6.78 | 5.67 |
| EV / EBITDA | 48.31 | 49.69 | 12.27 | 19.76 | 19.38 | 15.25 | 7.70 | 9.28 | 12.77 | 19.04 | 21.54 |
| EV / EBIT | — | — | 20.32 | 303.40 | 37.63 | 18.72 | 7.67 | 8.66 | 13.39 | 20.60 | 22.50 |
| EV / FCF | — | 59.10 | 11.61 | 14.23 | 21.92 | 14.46 | 10.94 | 10.50 | 15.10 | 18.21 | 18.70 |
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 | 89.6% | 89.6% | 88.2% | 86.2% | 86.9% | 87.1% | 89.9% | 95.8% | 96.2% | 95.0% | 94.4% |
| Operating Margin | -5.1% | -5.1% | 12.3% | -0.9% | 6.9% | 14.8% | 33.4% | 37.8% | 35.3% | 32.9% | 25.2% |
| Net Profit Margin | -5.4% | -5.4% | 11.2% | 0.2% | 9.1% | 9.2% | 24.4% | 28.8% | 27.1% | 19.0% | 42.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -3.7% | -3.7% | 7.5% | 0.1% | 7.1% | 6.8% | 18.9% | 21.6% | 30.8% | 24.9% | 58.7% |
| ROA | -2.7% | -2.7% | 5.6% | 0.1% | 3.6% | 3.3% | 9.5% | 10.6% | 15.8% | 15.6% | 36.6% |
| ROIC | -2.8% | -2.8% | 6.5% | -0.4% | 3.0% | 6.8% | 15.7% | 16.1% | 27.6% | 49.9% | 47.9% |
| ROCE | -3.4% | -3.4% | 7.9% | -0.5% | 3.9% | 6.5% | 15.4% | 16.4% | 25.8% | 37.5% | 30.0% |
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 | 0.04 | 0.04 | 0.03 | 0.05 | 0.50 | 0.52 | 0.56 | 0.64 | 0.73 | 0.10 | 0.02 |
| Debt / EBITDA | 0.75 | 0.75 | 0.21 | 0.52 | 3.38 | 3.60 | 2.16 | 2.38 | 2.17 | 0.25 | 0.07 |
| Net Debt / Equity | — | -0.08 | -0.03 | -0.04 | 0.40 | 0.27 | 0.17 | 0.33 | 0.30 | -0.28 | -0.45 |
| Net Debt / EBITDA | -1.60 | -1.60 | -0.22 | -0.42 | 2.67 | 1.88 | 0.66 | 1.24 | 0.91 | -0.69 | -1.52 |
| Debt / FCF | — | -1.90 | -0.20 | -0.30 | 3.02 | 1.79 | 0.93 | 1.40 | 1.07 | -0.66 | -1.32 |
| Interest Coverage | — | — | — | 2.15 | 9.59 | 4.12 | 8.10 | 7.50 | 7.98 | 63.48 | 10.65 |
Net cash position: cash ($128M) exceeds total debt ($41M)
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 | 1.90 | 1.90 | 2.35 | 1.70 | 1.07 | 1.91 | 2.57 | 2.94 | 3.06 | 1.86 | 1.88 |
| Quick Ratio | 1.66 | 1.66 | 2.16 | 1.43 | 0.93 | 1.63 | 2.37 | 2.78 | 2.90 | 1.72 | 1.67 |
| Cash Ratio | 0.91 | 0.91 | 1.55 | 0.88 | 0.67 | 1.08 | 1.72 | 2.16 | 2.21 | 1.14 | 1.12 |
| Asset Turnover | — | 0.49 | 0.48 | 0.48 | 0.39 | 0.34 | 0.35 | 0.34 | 0.42 | 0.71 | 0.69 |
| Inventory Turnover | 0.91 | 0.91 | 1.43 | 1.08 | 0.95 | 0.87 | 1.09 | 0.63 | 0.60 | 0.93 | 0.71 |
| Days Sales Outstanding | — | 95.34 | 78.36 | 86.61 | 90.53 | 93.76 | 98.81 | 81.16 | 91.87 | 79.21 | 70.50 |
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 | — | — | 3.7% | 0.1% | 2.9% | 3.4% | 9.4% | 8.9% | 6.2% | 2.7% | 7.0% |
| FCF Yield | 1.7% | 1.6% | 8.5% | 6.9% | 5.3% | 7.9% | 10.0% | 11.0% | 7.1% | 5.3% | 5.0% |
| 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 | — | $56M | $56M | $56M | $62M | $54M | $54M | $54M | $54M | $53M | $52M |
Regulatory and generic erosion
Based on reported figures, Supernus trades at a forward P/E of 18.84, a valuation that appears to bake in significant skepticism regarding the company's ability to successfully transition from legacy epilepsy assets to a diversified CNS growth platform while navigating ongoing regulatory hurdles for its pipeline.
The current EV/EBITDA multiple of 47.71 is heavily distorted by recent earnings volatility and heavy reinvestment, making it a poor indicator of normalized earning power. Investors should monitor whether the forward multiple compresses as Qelbree gains market share, or if the market continues to apply a 'transition discount' due to the binary risks associated with the SPN-830 regulatory path.
As reported in recent financial statements, the company's ROIC has fluctuated significantly, dropping to -0.7% in 2026Q1, which highlights the current difficulty in generating positive returns on invested capital while the firm aggressively funds the commercial launch of its newer CNS product portfolio.
The historical trend shows an inability to consistently compound returns, largely because the capital base is being deployed into high-cost marketing and R&D rather than immediate revenue-generating assets. This suggests that until the ADHD and movement disorder franchises reach critical mass, shareholders should expect ROIC to remain suppressed compared to more mature specialty pharma peers.
According to quarterly data, the company's cash conversion cycle remains highly erratic, with inventory days reaching 326 in 2026Q1, suggesting that management is struggling to optimize supply chain efficiency while simultaneously managing the transition between legacy and new product demand profiles.
The high and fluctuating DIO indicates a potential build-up of inventory that warrants further investigation into whether this reflects strategic stocking or a mismatch between production and actual prescription demand. Such inefficiencies in working capital management appear to be a primary drag on the company's ability to convert its high gross margins into consistent free cash flow.
Based on reported figures, Supernus maintains a conservative capital structure with a debt-to-equity ratio of 0.04 as of 2026Q1, providing a significant financial buffer that allows the company to absorb short-term operating losses without the immediate pressure of debt service or restrictive financial covenants.
This lack of leverage is a critical defensive feature, as it insulates the company from interest rate volatility and provides the flexibility to fund ongoing R&D and commercialization efforts internally. Investors should view this as a strategic advantage that mitigates the risk of dilution or insolvency during the current period of earnings transition.
The most commonly misapplied metric for Supernus is the GAAP net margin, which, at -1.1% in 2026Q1, obscures the company's underlying cash-generative potential by failing to account for the non-cash amortization of intangible assets and the heavy, discretionary nature of current commercial launch investments.
Analysts should instead focus on adjusted EBITDA or free cash flow margins, which better reflect the core operational health of the business. Relying on GAAP net income in this context may lead to an overly pessimistic view of the company's viability, as it treats essential growth-related spending as a permanent impairment of value.
Includes 30+ ratios · 18 years · Updated daily
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Quick answers to the most common questions about buying SUPN stock.
Supernus Pharmaceuticals, Inc.'s current P/E ratio is -69.7x. The historical average is 25.5x.
Supernus Pharmaceuticals, Inc.'s current EV/EBITDA is 48.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 19.6x.
Supernus Pharmaceuticals, Inc.'s return on equity (ROE) is -3.7%. The historical average is -8.2%.
Based on historical data, Supernus Pharmaceuticals, Inc. is trading at a P/E of -69.7x. Compare with industry peers and growth rates for a complete picture.
Supernus Pharmaceuticals, Inc. has 89.6% gross margin and -5.1% operating margin.
Supernus Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 0.7x, indicating low leverage. A ratio below 2x is generally considered financially healthy.