Latest Ratios: P/E Ratio -12.6x · EV/EBITDA N/A · ROE -21.8%. (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 | $205M | $150M | $85M | $54M | $289M | $215M | $259M | $75M |
| Enterprise Value | $168M | $112M | $58M | $-7246640 | $251M | $67M | $265M | $67M |
| P/E Ratio → | -12.58 | — | — | — | — | — | — | — |
| P/S Ratio | 28.72 | 20.96 | 3.29 | 2.23 | 18.98 | 192.41 | 17.78 | 100.05 |
| P/B Ratio | 1.88 | 1.10 | 1.63 | 0.52 | 1.82 | 1.58 | — | — |
| 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 | — | 15.70 | 2.22 | -0.30 | 16.53 | 59.92 | 18.18 | 90.07 |
| 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 | 89.4% | 89.4% | -108.0% | -112.4% | -123.4% | -1656.3% | -2.9% | -1377.2% |
| Operating Margin | -1601.1% | -1601.1% | -259.6% | -295.4% | -411.9% | -9930.1% | -17.5% | -1624.8% |
| Net Profit Margin | -288.3% | -288.3% | -245.1% | -270.0% | -397.7% | -9829.5% | -23.9% | -1636.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -21.8% | -21.8% | -80.8% | -49.9% | -41.1% | -177.6% | — | — |
| ROA | -18.6% | -18.6% | -62.8% | -41.5% | -35.4% | -124.6% | -19.6% | -73.6% |
| ROIC | -139.1% | -139.1% | -148.3% | -65.6% | -86.2% | — | — | — |
| ROCE | -120.7% | -120.7% | -84.7% | -53.0% | -40.7% | -169.3% | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.02 | 0.01 | 0.01 | 0.00 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.28 | -0.53 | -0.59 | -0.24 | -1.09 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -420.91 | -283.70 | -256.33 | -55.73 | -3.13 | -144.99 |
Net cash position: cash ($38M) exceeds total debt ($0)
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 | 10.26 | 10.26 | 3.59 | 4.72 | 9.56 | 9.90 | 0.62 | 0.64 |
| Quick Ratio | 10.26 | 10.26 | 3.28 | 4.48 | 9.46 | 9.90 | 0.62 | 0.64 |
| Cash Ratio | 10.03 | 10.03 | 2.77 | 4.12 | 9.16 | 9.76 | 0.15 | 0.62 |
| Asset Turnover | — | 0.05 | 0.37 | 0.18 | 0.08 | 0.01 | 0.77 | 0.04 |
| Inventory Turnover | — | — | 10.18 | 8.05 | 18.27 | — | — | — |
| Days Sales Outstanding | — | — | 82.92 | 82.25 | 44.67 | — | 354.21 | 138.83 |
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 | — | — | — | — | — | 2.0% | — | — |
| 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% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $62M | $27M | $27M | $23M | $9M | $18M | $8M |
Imminent clinical funding shortfall
According to current market data, WHWK trades at a P/S multiple of 28.79, which appears disconnected from its contracting revenue base and suggests that investors are pricing the equity as a speculative option on clinical trial success rather than a traditional fundamental valuation of operating cash flows.
The elevated P/S ratio relative to the broader biotech sector implies that the market is assigning value to the underlying intellectual property rather than current financial performance. Given the lack of forward earnings and the absence of a stable revenue stream, traditional valuation metrics like P/E are effectively meaningless, highlighting the binary nature of the company's current market pricing.
Based on reported financial statements, WHWK's ROIC has consistently remained in negative territory, reaching -17.1% in 2025Q4, which underscores the company's inability to generate returns on invested capital while it remains in a pre-commercial, high-burn phase of its clinical development lifecycle.
The persistent decay in ROIC suggests that every dollar of capital deployed into the business is currently destroying shareholder value rather than compounding it. This trend is typical for firms in the clinical-stage biotech space, yet the magnitude of the negative returns warrants concern regarding the efficiency of the company's R&D spending and its long-term viability.
As reported in recent SEC filings, WHWK's current ratio has declined from a peak of 20.41 in 2025Q2 to 10.26 by 2025Q4, indicating that while the company maintains a nominal liquidity cushion, the rapid depletion of cash reserves is significantly narrowing its operational runway.
The sharp contraction in the current ratio suggests that the company is consuming its liquid assets at an accelerating pace to fund ongoing clinical trials. Investors should monitor this trend closely, as the current liquidity position may prove insufficient to reach the next major clinical milestone without the need for dilutive external financing.
The most commonly misapplied metric for WHWK is the P/B ratio, which at 1.89 provides a misleading sense of asset backing, as the company's balance sheet is devoid of tangible assets and relies entirely on the speculative value of its clinical-stage intellectual property portfolio.
Relying on book value for a company with negligible PPE and no commercial products obscures the reality that the firm's true value is tied to clinical outcomes rather than its net asset position. Analysts should instead focus on the 'Cash Runway' metric, which provides a more accurate assessment of the company's proximity to insolvency and the likelihood of future equity dilution.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying WHWK stock.
Whitehawk Therapeutics Inc's current P/E ratio is -12.6x. This places it at the 50th percentile of its historical range.
Whitehawk Therapeutics Inc's return on equity (ROE) is -21.8%. The historical average is -74.2%.
Based on historical data, Whitehawk Therapeutics Inc is trading at a P/E of -12.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Whitehawk Therapeutics Inc has 89.4% gross margin and -1601.1% operating margin.