Latest Ratios: P/E Ratio -3.9x · EV/EBITDA N/A · ROE -924.3%. (1998–2025 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 | $80M | $88M | $37M | $28M | $30M | $47M | $98M | $184M | $254M | — | — |
| Enterprise Value | $77M | $85M | $34M | $27M | $13M | $6M | $33M | $186M | $249M | — | — |
| P/E Ratio → | -3.94 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1433.45 | 1695.11 | 9.43 | 5.14 | 1.56 | 1.14 | 2.15 | — | 489.99 | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | -924.3% | -924.3% | -250.5% | -178.1% | -62.2% | -72.6% | -171.2% | — | -1540.1% | -830.2% | -122.0% |
| ROA | -161.8% | -161.8% | -101.1% | -115.7% | -50.3% | -52.9% | -98.1% | -214.9% | -182.6% | -196.7% | -100.8% |
| ROIC | — | — | -481.7% | -531.6% | -1188.3% | -6167.9% | — | — | — | — | — |
| ROCE | -1008.2% | -1008.2% | -329.7% | -178.6% | -58.7% | -71.0% | -129.4% | — | -6058.5% | -1011.2% | -123.3% |
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 | 8.77 | 8.77 | 0.03 | 0.04 | 0.02 | 0.03 | 0.01 | — | 0.60 | — | 0.07 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -68.35 | -0.92 | -0.17 | -0.91 | -0.99 | -1.43 | — | -9.62 | — | -1.35 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1182.44 | -1182.44 | -2790.00 | -1723.20 | -2198.70 | -150.46 | -87.43 | -106.48 | -827.27 | -943.91 | -736.98 |
Net cash position: cash ($4M) exceeds total debt ($456000)
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 | 0.76 | 0.76 | 1.02 | 1.12 | 3.64 | 6.45 | 8.79 | 0.21 | 1.02 | 0.52 | 2.89 |
| Quick Ratio | 0.76 | 0.76 | 1.02 | 1.12 | 3.64 | 6.45 | 8.79 | 0.21 | 1.02 | 0.52 | 2.89 |
| Cash Ratio | 0.36 | 0.36 | 0.51 | 0.18 | 2.72 | 5.59 | 8.25 | 0.03 | 0.79 | 0.01 | 2.71 |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $59M | $53M | $51M | $51M | $49M | $49M | $68M | $68M | $58M | $53M |
Imminent liquidity and dilution
As reported in financial statements, Tiziana Life Sciences currently trades at a price-to-book ratio of 1365.19, a figure that appears largely disconnected from fundamental value and instead reflects the extreme erosion of the company's equity base as it continues to fund its clinical development pipeline.
The elevated P/B ratio suggests that the market is pricing the company based on the speculative potential of its intranasal Foralumab platform rather than its tangible net assets. Investors should monitor this metric with caution, as the denominator is rapidly shrinking, which may lead to further volatility in valuation multiples as the company approaches a potential capital raise.
Based on the company's historical financial data, ROIC has consistently remained in negative territory, reaching -11.3% in 2024Q4, which underscores the firm's inability to generate positive returns on invested capital while it remains in a pre-revenue, research-intensive phase of its corporate lifecycle.
The persistent negative ROIC indicates that every dollar of capital deployed into clinical trials is currently destroying shareholder value rather than compounding it. This trend warrants further investigation into whether the company can achieve a pivot toward positive returns once clinical milestones are met or if the current cost structure is structurally prohibitive.
According to recent SEC filings, the company's current ratio has deteriorated to 0.76 as of 2025Q4, signaling that current assets are insufficient to cover short-term liabilities, a precarious position that suggests the firm is highly vulnerable to any disruption in its ability to secure external financing.
The decline in the current ratio from historical highs above 6.0 indicates a rapid consumption of liquid resources without a corresponding replenishment from operational cash flow. This liquidity profile suggests that the company may face significant pressure to restructure its obligations or seek dilutive equity financing in the immediate future.
As indicated by the company's reported figures, the debt-to-equity ratio has surged to 8.77 in 2025Q4, a sharp increase from historical levels that reflects the company's growing reliance on debt instruments as its equity base has been nearly exhausted by persistent operational losses.
While the absolute debt levels may appear manageable in a vacuum, the rapid escalation of the D/E ratio in the context of a shrinking equity base suggests that the company's financial flexibility is becoming increasingly constrained. Investors should monitor whether this leverage profile impacts the terms of future capital raises or limits the company's strategic options.
As reported in financial statements, the use of P/E ratios to evaluate Tiziana Life Sciences is fundamentally flawed, as the company lacks commercial revenue and consistent earnings, rendering traditional valuation multiples ineffective for assessing the true risk-adjusted potential of its clinical-stage biotechnology assets.
Analysts should instead focus on probability-adjusted net present value (rNPV) models, which account for the binary nature of clinical trial outcomes and the long-term nature of drug development. Relying on P/E or EBITDA-based metrics obscures the reality of the company's cash-burn model and fails to capture the optionality inherent in its proprietary intranasal delivery platform.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying TLSA stock.
Tiziana Life Sciences Ltd's current P/E ratio is -3.9x. This places it at the 50th percentile of its historical range.
Tiziana Life Sciences Ltd's return on equity (ROE) is -924.3%. The historical average is -132.4%.
Based on historical data, Tiziana Life Sciences Ltd is trading at a P/E of -3.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.