Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -146.6%. (1994–2025 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 | $8M | $3M | $2M | $7M | $7M | $829M | $182M | $208M | $87M | $1.6B | $1.8B |
| Enterprise Value | $-2025963 | $-7877454 | $-7684780 | $-14096990 | $-33134167 | $764M | $176M | $194M | $58M | $1.6B | $1.8B |
| P/E Ratio → | -0.11 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.19 | 0.17 | 0.12 | 0.17 | 0.13 | 12.68 | 34.62 | 18.14 | 3.30 | — | 798.50 |
| 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 | -146.6% | -146.6% | -87.3% | -38.9% | -32.8% | -40.4% | -120.0% | -80.7% | -116.0% | — | -316.0% |
| ROA | -68.6% | -68.6% | -56.6% | -28.9% | -27.7% | -36.2% | -78.3% | -64.6% | -54.6% | -73.4% | -102.2% |
| ROIC | -161.2% | -161.2% | -142.7% | -97.0% | -230.1% | — | — | — | — | — | — |
| ROCE | -53.7% | -53.7% | -69.1% | -37.8% | -32.8% | -39.5% | -116.8% | -80.9% | -98.2% | -445.5% | -435.9% |
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 | 0.17 | 0.17 | 0.08 | 0.05 | 0.03 | 0.02 | 0.09 | 0.06 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.68 | -0.53 | -0.53 | -0.74 | -1.01 | -1.09 | -1.25 | -1.09 | — | -8.47 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($13M) exceeds total debt ($3M)
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 | 1.74 | 1.74 | 2.15 | 4.07 | 6.45 | 19.37 | 2.67 | 3.11 | 8.72 | 1.83 | 1.09 |
| Quick Ratio | 1.74 | 1.74 | 2.15 | 4.07 | 6.45 | 19.37 | 2.67 | 3.11 | 8.72 | 1.83 | 1.09 |
| Cash Ratio | 1.30 | 1.30 | 1.53 | 3.44 | 5.92 | 18.94 | 2.10 | 2.85 | 8.55 | 1.75 | 0.96 |
| 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% | 4.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 4.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $12M | $1M | $644280 | $613090 | $12M | $2M | $2M | $623244 | $355331 | $269397 |
Liquidity and dilution risk
As reported in financial statements, Theriva's ROIC has remained consistently negative, bottoming out at -197.9% in 2025Q3, which highlights the extreme difficulty of generating positive returns on invested capital while the company remains in a pre-commercial, high-burn clinical development phase for its primary therapeutic assets.
The persistent decay in ROIC suggests that the capital deployed into the VCN-01 and SYN-004 programs is not yet yielding economic value, which is typical for early-stage biotech but underscores the high risk of capital destruction. Investors should monitor whether future clinical milestones can reverse this trend, as the current negative returns reflect a heavy reliance on external funding rather than internal compounding.
Based on recent SEC filings, the company's current ratio has compressed significantly from 4.07 in 2023Q4 to 1.63 in 2026Q1, indicating that the firm's ability to cover short-term liabilities is narrowing as cash reserves are depleted to fund ongoing clinical trial activities and specialized research overhead.
The rapid decline in the current ratio suggests that the company is approaching a critical juncture where liquidity may become a binding constraint on its ability to execute multi-asset trials. This trend warrants further investigation into the timing of potential future capital raises, as the current liquidity position appears increasingly fragile under the pressure of sustained operational cash outflows.
According to historical balance sheet data, the debt-to-equity ratio has fluctuated between 0.05 and 0.41 over the last ten quarters, which, while appearing low, masks the underlying risk that the company lacks the recurring cash flow necessary to service even modest debt obligations without further equity dilution.
While the debt-to-equity ratio remains relatively low compared to industrial peers, the lack of interest coverage suggests that the company is effectively operating without a margin of safety. The reliance on equity financing to manage the balance sheet implies that shareholders should remain cautious regarding the potential for further dilution as the company attempts to bridge its funding gaps.
As evidenced by the company's P/B ratio of 0.20, investors often misapply this metric to Theriva, failing to recognize that book value in a clinical-stage biotech firm is heavily skewed by intangible assets and goodwill that may hold little liquidation value if clinical trials fail to meet endpoints.
The P/B ratio is a poor proxy for value in this context because it obscures the binary nature of the company's pipeline, where the true value resides in future intellectual property rather than current tangible assets. Analysts should instead focus on the cash-to-burn ratio and the probability-weighted net present value of the clinical pipeline to better assess the company's true economic worth.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying TOVX stock.
Theriva Biologics, Inc.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Theriva Biologics, Inc.'s return on equity (ROE) is -146.6%. The historical average is -133.0%.
Based on historical data, Theriva Biologics, Inc. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.