Latest Ratios: P/E Ratio -1.8x · EV/EBITDA N/A · ROE -40.0%. (2012–2025 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 | $5M | $4M | $6M | $5M | $4M | $13M | $13M | $4M | $15M | $17M | $32M |
| Enterprise Value | $-2425191 | $-4191223 | $-15625 | $-3710722 | $-9043302 | $-4956561 | $2M | $-6240336 | $14M | $11M | $28M |
| P/E Ratio → | -1.83 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.83 | 1.24 | 2.46 | 2.08 | 2.38 | 11.42 | 29.84 | 240.69 | — | 2.19 | 10.65 |
| P/B Ratio | 0.66 | 0.50 | 1.02 | 0.54 | 0.30 | 0.72 | 1.07 | 0.24 | 1.50 | 1.16 | 1.98 |
| P/FCF | — | — | — | — | — | — | — | — | — | 11.20 | — |
| P/OCF | — | — | — | — | — | — | — | — | — | 11.13 | — |
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 | — | -1.41 | -0.01 | -1.46 | -5.30 | -4.27 | 3.61 | -365.66 | — | 1.46 | 9.30 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | 7.47 | — |
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 | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | 97.9% | 98.8% |
| Operating Margin | -95.2% | -95.2% | -168.2% | -177.8% | -393.6% | -495.1% | -3189.8% | -75511.7% | — | -47.1% | -1581.0% |
| Net Profit Margin | -90.1% | -90.1% | -158.4% | -162.8% | -383.9% | -486.4% | -2493.1% | -74856.6% | — | -47.4% | -1806.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -40.0% | -40.0% | -50.1% | -35.3% | -40.9% | -36.9% | -74.0% | -94.2% | -60.3% | -23.6% | -475.9% |
| ROA | -35.1% | -35.1% | -45.2% | -32.7% | -37.9% | -34.2% | -62.7% | -71.0% | -43.5% | -17.9% | -286.2% |
| ROIC | — | — | -964.0% | -497.2% | -1385.8% | -929.1% | -274.5% | -119.3% | -60.3% | -25.6% | -374.6% |
| ROCE | -42.3% | -42.3% | -53.2% | -38.5% | -41.9% | -37.5% | -86.1% | -78.2% | -48.4% | -19.6% | -330.8% |
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 | 0.01 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.07 | -1.03 | -0.92 | -0.96 | -0.99 | -0.94 | -0.60 | -0.06 | -0.39 | -0.25 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | -3.73 | — |
| Interest Coverage | — | — | — | — | — | — | — | — | -301.53 | -1976.52 | -73.30 |
Net cash position: cash ($8M) 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 8.32 | 8.32 | 7.37 | 11.84 | 12.72 | 13.18 | 13.20 | 7.84 | 0.75 | 3.03 | 4.47 |
| Quick Ratio | 8.32 | 8.32 | 7.37 | 11.84 | 12.72 | 13.18 | 13.20 | 7.84 | 0.75 | 3.03 | 4.47 |
| Cash Ratio | 8.14 | 8.14 | 6.89 | 11.10 | 12.20 | 12.84 | 12.30 | 7.33 | 0.36 | 2.85 | 2.17 |
| Asset Turnover | — | 0.36 | 0.36 | 0.24 | 0.12 | 0.06 | 0.03 | 0.00 | — | 0.40 | 0.14 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | 365.00 |
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 | — | — | — | — | — | — | — | — | — | 8.9% | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 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% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $2M | $2M | $2M | $1M | $1M | $639238 | $285246 | $75601 | $72214 | $61921 |
Limited Cash Runway
According to recent market data, XBIO trades at a P/S ratio of 1.87, which appears to reflect a significant discount compared to broader biotech peers, suggesting that investors are pricing the company as a distressed royalty play rather than a high-growth clinical-stage innovator.
The current valuation multiples, including a negative P/E, indicate that the market is not assigning value to earnings but rather to the potential option value of the XCART pipeline. This pricing suggests that any deviation from clinical milestones could lead to further multiple compression, as the market remains skeptical of the company's ability to monetize its intellectual property beyond existing royalty streams.
Based on reported financial statements, XBIO's ROIC has remained deeply negative, with figures such as -42.7% in 2024Q4, illustrating a consistent failure to generate returns on capital that exceed the company's cost of funding its intensive research and development activities.
The inability to achieve positive returns on capital is a structural consequence of the company's transition into a high-cost oncology developer. Investors should monitor whether the company can improve these metrics through successful clinical readouts, as the current trend suggests a continued destruction of shareholder value through persistent operating losses.
As reported in recent quarterly filings, XBIO maintains a current ratio of 7.93, which appears robust on the surface but masks a rapidly depleting cash position that is being consumed by the high fixed costs of its clinical-stage R&D initiatives.
While the high current ratio suggests short-term solvency, the lack of significant revenue growth means this liquidity is finite and likely to be exhausted without further dilutive financing. The company's reliance on cash reserves to fund operations warrants close monitoring, as the current burn rate leaves little room for unexpected clinical delays or regulatory setbacks.
Based on a comparison with industry peers like Halozyme Therapeutics, XBIO lags significantly in profitability and scale, with its negative net margins contrasting sharply with the double-digit margins typically seen in established drug-delivery companies that have successfully commercialized their technology platforms.
The gap between XBIO and its peers is structural, as the company lacks the diversified revenue base and commercial maturity of larger players. This divergence suggests that XBIO's current valuation is not merely a temporary discount but a reflection of its higher risk profile and lack of operational scale in the competitive biotech landscape.
As indicated in financial analysis, the Price-to-Sales ratio is frequently misapplied to XBIO, as it fails to account for the lumpy, non-recurring nature of milestone payments that can artificially inflate revenue figures in specific quarters without reflecting the underlying health of the business.
Investors should instead focus on the 'net burn' rate and the cash runway, as these metrics provide a more accurate assessment of the company's survival probability. Relying on P/S multiples obscures the reality that the company's revenue is not currently scaling with its R&D expenditures, making traditional valuation metrics largely non-informative for this business model.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying XBIO stock.
Xenetic Biosciences, Inc.'s current P/E ratio is -1.8x. This places it at the 50th percentile of its historical range.
Xenetic Biosciences, Inc.'s return on equity (ROE) is -40.0%. The historical average is -91.7%.
Based on historical data, Xenetic Biosciences, Inc. is trading at a P/E of -1.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xenetic Biosciences, Inc. has 100.0% gross margin and -95.2% operating margin.