Latest Ratios: P/E Ratio -61.9x · EV/EBITDA N/A · ROE -30.2%. (2016–2025 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 | $2.5B | $1.8B | $416M | $133M | $125M | $18M | $44M | $67M | — | — | — |
| Enterprise Value | $2.5B | $1.8B | $383M | $102M | $121M | $-4334394 | $13M | $10M | — | — | — |
| P/E Ratio → | -61.90 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 14.21 | 9.91 | 4.18 | 1.61 | 1.16 | 1.05 | 1.60 | 1.23 | — | — | — |
| 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 | -30.2% | -30.2% | -52.6% | -30.6% | -46.8% | -153.0% | -80.1% | -72.5% | -128.1% | -87.0% | — |
| ROA | -28.1% | -28.1% | -47.8% | -27.4% | -36.1% | -79.3% | -61.2% | -64.7% | -96.2% | -84.0% | -131.8% |
| ROIC | -31.9% | -31.9% | -65.5% | -32.7% | -45.3% | — | — | — | -1115.2% | — | — |
| ROCE | -34.7% | -34.7% | -56.0% | -35.1% | -44.2% | -96.5% | -67.4% | -73.4% | -111.8% | -528.0% | — |
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 | 0.00 | 0.00 | 0.01 | 0.02 | 0.09 | 0.86 | 0.52 | 0.01 | 0.06 | 0.36 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.33 | -0.38 | -0.03 | -1.30 | -1.13 | -1.04 | -0.93 | -1.13 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -11984.25 | -73.42 | -35.93 | -27.25 | -70.88 | — | -117.79 | -2.46 | — |
Net cash position: cash ($19M) exceeds total debt ($753000)
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 | 19.66 | 19.66 | 10.41 | 15.03 | 9.15 | 2.98 | 8.33 | 11.45 | 7.02 | 3.11 | 0.41 |
| Quick Ratio | 19.66 | 19.66 | 10.41 | 15.03 | 9.15 | 2.98 | 8.33 | 11.45 | 6.50 | 3.10 | 0.41 |
| Cash Ratio | 19.31 | 19.31 | 10.24 | 14.25 | 8.99 | 2.89 | 8.10 | 11.02 | 6.41 | 3.09 | 0.41 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | 0.02 | — | — |
| 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% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $145M | $101M | $99M | $65M | $23M | $18M | $18M | $9M | $9M | $16M |
Imminent liquidity and dilution
As reported in financial statements, Trevi's P/B ratio of 14.37 suggests that the market is pricing the company based on speculative future clinical success rather than current book value, which is typical for pre-revenue biotechnology firms facing significant binary outcomes in their late-stage development programs.
The negative P/E ratio of -62.59 confirms the absence of current earnings, rendering traditional valuation multiples largely irrelevant for assessing the firm's intrinsic value. Investors should monitor the valuation gap relative to better-capitalized peers, as the current pricing appears to heavily discount the high probability of near-term dilutive financing.
Based on Trevi's reported figures, the ROIC has consistently trended in negative territory, reaching -7.0% in 2026Q1, which underscores the firm's inability to generate returns on invested capital while it remains in a cash-burning, clinical-stage phase without any commercial revenue to offset development costs.
The persistent decay in ROIC over the last ten quarters reflects the high cost of clinical trial execution relative to the company's limited asset base. This trend suggests that capital is being consumed at an accelerating rate, with no immediate prospect for positive compounding until the Haduvio program achieves regulatory milestones.
According to recent SEC filings, Trevi's current ratio has fluctuated significantly, dropping from 24.75 in 2026Q1 to lower levels in previous periods, which indicates that the company's ability to meet short-term obligations is entirely dependent on its rapidly depleting cash reserves rather than operational cash generation.
The high current ratio is a misleading indicator of health, as it masks the underlying reality that the firm has no recurring revenue to sustain its operations. Under severe stress, the company's reliance on external capital markets for liquidity appears to be the primary risk factor for existing shareholders.
As evidenced by the company's financial data, the current ratio is the most commonly misapplied metric for Trevi, as it obscures the firm's lack of operational cash flow and the imminent risk of insolvency inherent in a pre-revenue biotechnology business model.
Analysts should instead focus on the cash runway, calculated as the ratio of cash reserves to quarterly burn rate, to better assess the firm's survival horizon. Relying on standard liquidity ratios like the current ratio provides a false sense of security that ignores the binary nature of the company's clinical development timeline.
Includes 30+ ratios · 10 years · Updated daily
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Quick answers to the most common questions about buying TRVI stock.
Trevi Therapeutics, Inc.'s current P/E ratio is -61.9x. This places it at the 50th percentile of its historical range.
Trevi Therapeutics, Inc.'s return on equity (ROE) is -30.2%. The historical average is -75.7%.
Based on historical data, Trevi Therapeutics, Inc. is trading at a P/E of -61.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.