Latest Ratios: P/E Ratio -2.1x · EV/EBITDA N/A · ROE -76.0%. (2015–2025 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 | $498M | $169M | $148M | $149M | $63M | $59M | $129M | $123M | $1M | $4M | — |
| Enterprise Value | $358M | $29M | $170M | $108M | $-20216692 | $17M | $89M | $20M | $3M | $-60172409 | — |
| P/E Ratio → | -2.11 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 14.17 | 4.82 | 57.69 | — | — | — | 43.03 | — | — | — | — |
| P/B Ratio | 0.89 | 0.91 | 6.66 | 2.92 | 0.85 | 0.92 | 1.77 | 0.95 | — | 0.07 | — |
| 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 | — | 0.84 | 66.44 | — | — | — | 29.52 | — | — | — | — |
| 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 | 82.2% | 82.2% | 68.8% | — | — | — | 59.0% | — | — | — | — |
| Operating Margin | -247.4% | -247.4% | -1423.6% | — | — | — | -1995.8% | — | — | — | — |
| Net Profit Margin | -225.6% | -225.6% | -1464.6% | — | — | — | -2071.0% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -76.0% | -76.0% | -102.3% | -161.7% | -135.6% | -129.3% | -61.5% | -89.9% | -141.5% | -161.4% | — |
| ROA | -36.3% | -36.3% | -25.5% | -66.8% | -68.8% | -73.9% | -43.8% | -61.9% | -73.0% | -76.2% | -268.5% |
| ROIC | -143.1% | -143.1% | -99.8% | -17588.1% | -997.9% | -206.7% | -154.3% | -439.6% | — | — | — |
| ROCE | -45.9% | -45.9% | -30.6% | -83.5% | -74.1% | -70.4% | -45.7% | -61.1% | -80.1% | -109.3% | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.41 | 0.41 | 3.53 | 1.14 | 0.52 | 0.62 | 0.53 | 0.18 | — | 0.21 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.75 | 1.01 | -0.80 | -1.12 | -0.65 | -0.56 | -0.80 | — | -1.10 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -9.79 | -9.79 | -3.24 | -16.50 | -22.50 | -20.69 | -22.27 | -21.80 | -40.40 | -17.38 | -9.68 |
Net cash position: cash ($217M) exceeds total debt ($77M)
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 | 10.16 | 10.16 | 3.41 | 5.34 | 5.76 | 6.27 | 6.97 | 13.68 | 1.18 | 7.45 | 0.47 |
| Quick Ratio | 9.98 | 9.98 | 3.33 | 5.34 | 5.76 | 6.27 | 6.97 | 13.68 | 1.18 | 7.45 | 0.47 |
| Cash Ratio | 9.82 | 9.82 | 3.10 | 5.00 | 5.45 | 5.83 | 6.61 | 13.36 | 1.03 | 7.19 | 0.25 |
| Asset Turnover | — | 0.12 | 0.02 | — | — | — | 0.02 | — | — | — | — |
| Inventory Turnover | 1.40 | 1.40 | 0.28 | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 5.96 | 244.09 | — | — | — | 111.57 | — | — | — | — |
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% | 3.4% | 0.0% | 0.0% | 100.0% | 4.5% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 3.4% | 0.0% | 0.0% | 100.0% | 4.5% | — |
| Shares Outstanding | — | $42M | $7M | $6M | $2M | $858299 | $669233 | $384333 | $2549 | $1909 | $13235 |
Commercialization and diagnostic adoption
According to current market data, XFOR trades at a price-to-sales ratio of 14.46, which suggests that investors are pricing the company based on its long-term platform potential in chronic neutropenia rather than the immediate, albeit volatile, revenue contributions from its recently approved WHIM syndrome therapeutic.
The absence of a meaningful P/E or EV/EBITDA ratio underscores the company's current status as a pre-profit, growth-stage entity where traditional valuation metrics are less relevant than clinical milestones. Investors should monitor whether the forward EV/EBITDA of 193.64 compresses as commercial uptake of XOLREMDI scales, or if the market continues to assign a premium based on the broader addressable market for its CXCR4 antagonist.
As reported in financial statements, XFOR maintains a robust gross margin of 77.9% as of 2026Q1, yet this structural strength is currently obscured by an operating margin of -7.5%, reflecting the heavy investment required to build out a specialized sales force for its orphan drug portfolio.
The high gross margin is characteristic of small-molecule orphan drugs, suggesting that manufacturing costs are not the primary constraint on profitability. However, the persistent operating losses indicate that the company has not yet reached the necessary scale to cover its fixed commercial and R&D expenses, warranting caution regarding the timeline to sustainable profitability.
Based on recent SEC filings, the company's cash conversion cycle remains deeply negative, with a 2026Q1 figure of -96 days, which highlights the complexities of managing inventory and receivables during the early stages of a specialized orphan drug product launch in the US market.
The extreme volatility in the cash conversion cycle, particularly the high days inventory outstanding, suggests that the company is still optimizing its supply chain and distribution channels for XOLREMDI. Investors should monitor whether these metrics stabilize as the company moves from the initial launch phase to a more predictable, recurring revenue model.
According to recent financial disclosures, the company's liquidity position has been significantly strengthened, with a current ratio of 10.18 as of 2026Q1, largely bolstered by the strategic monetization of a Priority Review Voucher that has provided a critical buffer against near-term operational cash burn.
This liquidity profile appears adequate to fund ongoing clinical trials for chronic neutropenia through 2025, reducing the immediate necessity for dilutive equity financing. However, the company remains vulnerable to liquidity shocks if the commercial uptake of its lead therapeutic fails to meet expectations, necessitating a close watch on cash burn rates in subsequent quarters.
The price-to-sales ratio is the most commonly misapplied metric for XFOR, as it obscures the non-recurring nature of recent revenue events and fails to account for the diagnostic-dependent growth trajectory required for the company's lead therapeutic to achieve meaningful market penetration in the chronic neutropenia space.
Using P/S ratios to value XFOR ignores the fact that current revenue is heavily influenced by one-time events like the PRV sale, which do not reflect the underlying commercial demand. Analysts should instead focus on patient identification rates and payor coverage metrics, which are more indicative of the long-term durability of the company's revenue model than headline sales figures.
Includes 30+ ratios · 11 years · Updated daily
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Quick answers to the most common questions about buying XFOR stock.
X4 Pharmaceuticals, Inc.'s current P/E ratio is -2.1x. This places it at the 50th percentile of its historical range.
X4 Pharmaceuticals, Inc.'s return on equity (ROE) is -76.0%. The historical average is -117.7%.
Based on historical data, X4 Pharmaceuticals, Inc. is trading at a P/E of -2.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
X4 Pharmaceuticals, Inc. has 82.2% gross margin and -247.4% operating margin.