Latest Ratios: P/E Ratio -2.1x · EV/EBITDA N/A · ROE -39.1%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $289M | $425M | $674M | $499M | $423M | $535M | — | — |
| Enterprise Value | $250M | $386M | $632M | $499M | $404M | $243M | — | — |
| P/E Ratio → | -2.15 | — | 10.29 | — | — | — | — | — |
| P/S Ratio | 11.38 | 16.73 | 3.20 | 3.87 | — | — | — | — |
| P/B Ratio | 1.01 | 1.39 | 1.57 | 2.06 | 1.99 | 1.79 | — | — |
| P/FCF | — | — | — | 3.72 | — | — | — | — |
| P/OCF | — | — | — | 3.57 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 15.18 | 3.00 | 3.87 | — | — | — | — |
| EV / EBITDA | — | — | 12.45 | — | — | — | — | — |
| EV / EBIT | — | — | 13.45 | — | — | — | — | — |
| EV / FCF | — | — | — | 3.72 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 83.9% | 83.9% | 100.0% | 100.0% | — | — | — | — |
| Operating Margin | -613.7% | -613.7% | 22.3% | -2.5% | — | — | — | — |
| Net Profit Margin | -565.5% | -565.5% | 31.1% | -5.2% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -39.1% | -39.1% | 19.6% | -2.9% | -37.0% | -39.8% | — | — |
| ROA | -31.8% | -31.8% | 13.2% | -1.9% | -33.9% | -29.3% | -85.9% | -25.5% |
| ROIC | -35.8% | -35.8% | 11.2% | -1.1% | -72.6% | — | — | — |
| ROCE | -37.2% | -37.2% | 11.8% | -1.2% | -36.8% | -30.1% | -94.4% | -72.5% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.17 | 0.17 | 0.14 | 0.28 | 0.12 | — | — | — |
| Debt / EBITDA | — | — | 1.17 | — | — | — | — | — |
| Net Debt / Equity | — | -0.13 | -0.10 | 0.00 | -0.09 | -0.97 | — | — |
| Net Debt / EBITDA | — | — | -0.83 | — | — | — | — | — |
| Debt / FCF | — | — | — | 0.00 | — | — | — | — |
| Interest Coverage | — | — | — | — | -36.95 | — | — | — |
Net cash position: cash ($90M) exceeds total debt ($51M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 12.53 | 12.53 | 11.15 | 2.33 | 9.55 | 44.46 | 11.89 | 9.08 |
| Quick Ratio | 12.53 | 12.53 | 11.15 | 2.33 | 9.55 | 44.46 | 11.89 | 9.08 |
| Cash Ratio | 12.09 | 12.09 | 10.64 | 2.22 | 8.59 | 43.32 | 11.62 | 8.77 |
| Asset Turnover | — | 0.07 | 0.40 | 0.27 | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 6.37 | 16.63 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 9.7% | — | — | — | — | — |
| FCF Yield | — | — | — | 26.9% | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $41M | $39M | $33M | $31M | $31M | $31M | $1M |
Clinical milestone funding dependency
As reported in financial statements, Entrada's P/S ratio of 11.82 suggests that investors are pricing the firm based on its EEV platform potential rather than current revenue, which has experienced a sharp 87.94% year-over-year decline due to the episodic nature of milestone-based collaboration payments.
The current valuation appears to reflect a speculative premium common in the biotechnology sector, where market participants assign value to the underlying delivery technology rather than trailing financial performance. Investors should monitor whether this multiple compresses as the company exhausts its existing collaboration-derived cash, potentially necessitating dilutive financing to sustain operations.
Based on recent quarterly data, Entrada's ROIC has trended into negative territory, reaching -12.4% in 2026Q1, which highlights the company's inability to generate positive returns on invested capital while it remains in a capital-intensive, pre-commercial phase of its clinical development pipeline.
The decay in return metrics is a direct consequence of the massive R&D spend required to advance candidates like ENTR-601-44, which currently outweighs the service-based income from partnerships. This trend suggests that capital efficiency will remain strained until the company can transition from a research-focused entity to one with a commercialized product.
According to the provided financial data, Entrada's asset turnover has remained negligible at 0.00 in recent quarters, reflecting a business model that lacks recurring product sales and relies entirely on the timing of milestone payments from strategic partners like Vertex Pharmaceuticals to manage its working capital.
The lack of meaningful asset turnover is expected for a pre-revenue biotech firm, yet the volatility in accounts payable and deferred revenue suggests that the company's working capital cycle is entirely dependent on external collaboration agreements. Analysts should view these efficiency metrics as secondary to the company's ability to manage its cash runway.
As reported in recent SEC filings, Entrada's current ratio of 13.90 in 2026Q1 appears deceptively high, as it is heavily influenced by the timing of collaboration-related liabilities rather than a robust, self-sustaining cash position capable of supporting long-term research activities without further external capital injections.
While the high current ratio suggests an ability to meet short-term obligations, the rapid depletion of the cash balance indicates that the company's liquidity position is vulnerable to clinical trial delays. Investors should focus on the monthly cash burn rate rather than traditional liquidity ratios, which fail to capture the urgency of the company's funding requirements.
Based on reported figures, the gross margin of 83.89% is frequently misapplied by market participants as an indicator of commercial profitability, when in reality, it is merely an accounting artifact of recognizing collaboration revenue against minimal cost of goods sold in a pre-commercial biotech business model.
Using gross margin to evaluate Entrada's earning power is misleading because it ignores the massive, necessary R&D expenditures that define the company's true cost structure. Analysts should instead prioritize 'Cash Burn per Month' and 'Remaining Collaboration Value' to assess the firm's actual economic viability and its proximity to a potential commercial inflection point.
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Quick answers to the most common questions about buying TRDA stock.
Entrada Therapeutics, Inc.'s current P/E ratio is -2.1x. The historical average is 10.3x.
Entrada Therapeutics, Inc.'s return on equity (ROE) is -39.1%. The historical average is -19.9%.
Based on historical data, Entrada Therapeutics, Inc. is trading at a P/E of -2.1x. Compare with industry peers and growth rates for a complete picture.
Entrada Therapeutics, Inc. has 83.9% gross margin and -613.7% operating margin.