Latest Ratios: P/E Ratio -19.1x · EV/EBITDA N/A · ROE -68.5%. (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 | $1.9B | $1.8B | $433M | $206M | $99M | $439M | $469M | — |
| Enterprise Value | $1.6B | $1.5B | $357M | $123M | $71M | $353M | $218M | — |
| P/E Ratio → | -19.12 | — | — | — | — | — | — | — |
| P/S Ratio | 191.11 | 179.93 | 51.93 | 13.30 | 39.70 | — | — | — |
| P/B Ratio | 8.42 | 7.12 | 6.05 | 2.74 | 104.67 | 4.60 | 1.87 | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 149.07 | 42.83 | 7.94 | 28.53 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 0.6% | — | — | — |
| Operating Margin | -1130.6% | -1130.6% | -1097.6% | -468.8% | -5037.1% | — | — | — |
| Net Profit Margin | -1115.3% | -1115.3% | -1071.6% | -722.1% | -6635.3% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -68.5% | -68.5% | -121.9% | -294.0% | -344.7% | -100.7% | -34.2% | — |
| ROA | -43.3% | -43.3% | -53.6% | -74.6% | -97.6% | -73.8% | -33.2% | -7433.3% |
| ROIC | — | — | — | — | — | -2758.7% | — | — |
| ROCE | -49.0% | -49.0% | -67.7% | -72.6% | -111.7% | -83.7% | -34.2% | — |
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 | 0.07 | 0.07 | 0.88 | 0.82 | 63.15 | 0.66 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.22 | -1.06 | -1.11 | -29.45 | -0.90 | -1.00 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | 0.00 |
| Debt / FCF | — | — | — | — | — | — | — | 0.00 |
| Interest Coverage | -1729.08 | -1729.08 | -874.47 | -21.32 | -42.71 | -121.21 | -2142.25 | — |
Net cash position: cash ($320M) exceeds total debt ($18M)
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 | 12.23 | 12.23 | 5.42 | 4.08 | 1.54 | 3.08 | 36.17 | 0.10 |
| Quick Ratio | 12.23 | 12.23 | 5.42 | 4.08 | 1.54 | 3.08 | 36.17 | 0.10 |
| Cash Ratio | 12.04 | 12.04 | 5.30 | 3.92 | 1.40 | 2.88 | 35.24 | — |
| Asset Turnover | — | 0.03 | 0.05 | 0.09 | 0.02 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — |
| Shares Outstanding | — | $320M | $250M | $116M | $44M | $38M | $18M | $37M |
Binary clinical trial dependency
As reported in recent financial data, TSHA trades at a P/S ratio of 186.41, a figure that suggests investors are pricing the company based on the potential success of its Rett syndrome program rather than any current, meaningful, or recurring revenue-generating commercial operations.
The extreme P/S multiple indicates that the market is assigning significant strategic value to the Astellas partnership and the proprietary miRARE platform. Investors should monitor whether this valuation remains sustainable if clinical enrollment velocity or biomarker data fails to meet the high expectations currently embedded in the share price.
Based on the company's reported figures, ROE has remained consistently negative, fluctuating between -18.5% and -37.4% over the last ten quarters, which highlights the structural inability of the current pre-revenue business model to generate positive returns on the capital invested by shareholders.
The persistent negative ROE is a direct consequence of the massive R&D spending required to advance the gene therapy pipeline. Until TSHA-102 reaches commercialization, these metrics will likely continue to reflect capital consumption rather than the compounding of invested capital.
As evidenced by the reported financial statements, TSHA's DPO has fluctuated significantly, reaching 1802 days in 2025Q4, which suggests that the company's working capital efficiency is heavily influenced by the timing of milestone-related payments rather than standard operational trade credit cycles.
The lack of consistent asset turnover data further confirms that the company is not yet operating as a traditional industrial entity. The erratic nature of these efficiency ratios warrants further investigation into how management balances cash preservation with the necessary outflows for clinical manufacturing.
According to quarterly filings, TSHA maintains a current ratio of 14.04 as of 2026Q1, a level that appears robust on the surface but primarily reflects the temporary presence of cash reserves intended to fund the company's high-intensity research and development activities over the coming years.
While the current ratio suggests a comfortable liquidity position, it is important to note that this is a function of capital raises rather than operational cash generation. Investors should monitor the burn rate closely, as the company's ability to reach pivotal data readouts is entirely dependent on this finite cash pile.
As reported in financial statements, the use of P/E ratios to evaluate TSHA is fundamentally flawed, as the company's negative earnings and lack of commercial product render traditional valuation multiples meaningless for assessing the firm's true economic value or its long-term viability.
Analysts should instead focus on the cash runway and the probability-weighted net present value of the pipeline. Applying standard profitability metrics to a pre-revenue biotech firm obscures the binary nature of the clinical development process and the strategic value of its intellectual property.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying TSHA stock.
Taysha Gene Therapies, Inc.'s current P/E ratio is -19.1x. This places it at the 50th percentile of its historical range.
Taysha Gene Therapies, Inc.'s return on equity (ROE) is -68.5%. The historical average is -160.7%.
Based on historical data, Taysha Gene Therapies, Inc. is trading at a P/E of -19.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Taysha Gene Therapies, Inc. has 100.0% gross margin and -1130.6% operating margin.