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DCTH logoDelcath Systems, Inc.(DCTH)Earnings, Financials & Key Ratios

DCTH•NASDAQ
$11.24
$391M mkt cap·166.3× P/E·Price updated May 7, 2026
SectorHealthcareIndustryMedical DevicesSub-IndustryImaging, radiation, and oncology devices
AboutDelcath Systems, Inc., an interventional oncology company, focuses on the treatment of primary and metastatic liver cancers in the United States and Europe. The company's lead product candidate is HEPZATO KIT, a melphalan for injection/hepatic delivery system to administer high-dose chemotherapy to the liver while controlling systemic exposure and associated side effects. Its clinical development program for HEPZATO is the FOCUS clinical trial for patients with metastatic hepatic dominant Uveal Melanoma to investigate objective response rate in metastatic uveal melanoma. It also provides HEPZATO as a stand-alone medical device under the CHEMOSAT Hepatic Delivery System trade name for Melphalan or CHEMOSAT for medical centers to treat a range of liver cancers in Europe. Delcath Systems, Inc. was incorporated in 1988 and is headquartered in New York, New York.Show more
  • Revenue$85M+129.1%
  • EBITDA$1M+108.3%
  • Net Income$3M+110.2%
  • EPS (Diluted)0.07+107.3%
  • Gross Margin86.16%+3.3%
  • EBITDA Margin1.18%+103.6%
  • Operating Margin0.77%+102.3%
  • Net Margin3.17%+104.5%
  • ROE3%+104.8%
  • ROIC0.93%+102.5%
  • Debt/Equity0.01-44.3%
Technical→

DCTH Key Insights

Delcath Systems, Inc. (DCTH) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Strong Piotroski F-Score: 7/9
  • ✓FCF machine: 24.6% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income
  • ✓Strong 5Y sales CAGR of 120.2%

✗Weaknesses

  • ✗Shares diluted 40.0% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

DCTH Price & Volume

Delcath Systems, Inc. (DCTH) stock price & volume — 10-year historical chart

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DCTH Growth Metrics

Delcath Systems, Inc. (DCTH) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years47.51%
5 Years120.21%
3 Years215.3%
TTM21.54%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM103.95%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM101.13%

Return on Capital

10 Years-2244.85%
5 Years-129.25%
3 Years-109.34%
Last Year0.72%

DCTH Peer Comparison

Delcath Systems, Inc. (DCTH) competitors in Imaging, radiation, and oncology devices — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
NVCR logoNVCRNovoCure LimitedDirect Competitor1.92B16.83-13.808.28%-25.66%-50.82%0.85
AGEN logoAGENAgenus Inc.Direct Competitor132.45M3.75-1102.9410.37%0.1%
CLDX logoCLDXCelldex Therapeutics, Inc.Direct Competitor2.22B33.32-8.54-78.63%-172.53%-41.68%0.00
IMVT logoIMVTImmunovant, Inc.Direct Competitor5.53B27.22-9.97-47.07%0.00
HALO logoHALOHalozyme Therapeutics, Inc.Product Competitor7.68B65.1925.4637.55%22.69%6.49%
INVA logoINVAInnoviva, Inc.Product Competitor1.93B22.806.9118.52%118.91%46.47%0.23
TGTX logoTGTXTG Therapeutics, Inc.Product Competitor6.87B43.0315.5387.32%65.95%87.36%0.40
RCUS logoRCUSArcus Biosciences, Inc.Product Competitor2.5B24.80-7.54-4.26%-156.36%-68.97%0.16

Compare DCTH vs Peers

Delcath Systems, Inc. (DCTH) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs NVCR

Most directly comparable listed peer for DCTH.

Scale Benchmark

vs ISRG

Larger-name benchmark to compare DCTH against a more recognizable public peer.

Peer Set

Compare Top 5

vs NVCR, AGEN, CLDX, IMVT

DCTH Income Statement

Delcath Systems, Inc. (DCTH) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Sales/Revenue2.71M3.41M1.58M1.65M3.56M2.72M2.06M37.2M85.23M65.45M
Revenue Growth %36.3%25.49%-53.62%4.18%115.98%-23.52%-24.05%1701.69%129.08%21.54%
Cost of Goods Sold701K1.01M719K640K671K686K635K6.19M11.8M8.95M
COGS % of Revenue25.82%29.62%45.51%38.88%18.87%25.23%30.75%16.63%13.84%-
Gross Profit
2.01M▲ 0%
2.4M▲ 19.1%
861K▼ 64.1%
1.01M▲ 16.8%
2.88M▲ 186.7%
2.03M▼ 29.5%
1.43M▼ 29.7%
31.02M▲ 2069.0%
73.43M▲ 136.8%
77.75M▲ 0%
Gross Margin %74.18%70.38%54.49%61.12%81.13%74.77%69.25%83.37%86.16%118.8%
Gross Profit Growth %39.67%19.07%-64.1%16.84%186.68%-29.51%-29.66%2069.02%136.75%-
Operating Expenses20.18M29.47M20.77M22.31M27.41M35.89M39.61M43.43M72.77M79.37M
OpEx % of Revenue743.24%864.95%1314.49%1355.35%771.17%1319.82%1918.26%116.72%85.38%-
Selling, General & Admin9.68M9.82M11.28M11.11M13.64M17.3M22.11M29.55M43.53M45.31M
SG&A % of Revenue356.69%288.2%713.86%674.85%383.6%636.37%1070.7%79.43%51.07%-
Research & Development10.49M19.65M9.49M11.2M13.78M18.58M17.5M13.87M29.25M34.06M
R&D % of Revenue386.56%576.75%600.63%680.5%387.57%683.45%847.55%37.29%34.31%-
Other Operating Expenses-41K51K00000000
Operating Income
-18.16M▲ 0%
-27.07M▼ 49.0%
-19.91M▲ 26.5%
-21.3M▼ 7.0%
-24.53M▼ 15.2%
-33.85M▼ 38.0%
-38.18M▼ 12.8%
-12.41M▲ 67.5%
660K▲ 105.3%
-1.62M▲ 0%
Operating Margin %-669.06%-794.57%-1260%-1294.23%-690.04%-1245.05%-1849.01%-33.36%0.77%-2.47%
Operating Income Growth %-10.49%-49.03%26.46%-7.01%-15.15%-38%-12.79%67.5%105.32%-
EBITDA-17.86M-26.63M-19.66M-21.14M-24.39M-33.72M-37.78M-12.18M1.01M-1.39M
EBITDA Margin %-657.64%-781.54%-1244.24%-1284.08%-685.94%-1240.2%-1829.69%-32.74%1.18%-2.13%
EBITDA Growth %-10.66%-49.13%26.17%-7.51%-15.37%-38.29%-12.05%67.76%108.28%-12.54%
D&A (Non-Cash Add-back)310K444K249K167K146K132K399K229K349K228K
EBIT-23.41M-11.26M-4.13M-23.98M-24.46M-33.82M-38.18M-12.41M3.51M1.63M
Net Interest Income-21.7M-7.96M-4.75M-175K-1.19M-2.69M-1.44M02.92M1.65M
Interest Income000000002.92M2.44M
Interest Expense21.7M7.96M4.75M175K1.19M2.69M1.44M000
Other Income/Expense-26.95M7.85M11.03M-2.85M-1.12M-2.65M-9.5M-13.98M2.85M2.96M
Pretax Income
-45.12M▲ 0%
-19.22M▲ 57.4%
-8.88M▲ 53.8%
-24.16M▼ 172.1%
-25.65M▼ 6.2%
-36.51M▼ 42.3%
-47.68M▼ 30.6%
-26.39M▲ 44.7%
3.51M▲ 113.3%
1.34M▲ 0%
Pretax Margin %-1661.77%-564.19%-561.96%-1467.56%-721.49%-1342.7%-2308.86%-70.92%4.12%2.04%
Income Tax00000000810K777K
Effective Tax Rate %0%0%0%0%0%0%0%0%23.08%58.07%
Net Income
-45.12M▲ 0%
-19.22M▲ 57.4%
-8.88M▲ 53.8%
-24.16M▼ 172.1%
-25.65M▼ 6.2%
-36.51M▼ 42.3%
-47.68M▼ 30.6%
-26.39M▲ 44.7%
2.7M▲ 110.2%
561K▲ 0%
Net Margin %-1661.77%-564.19%-561.96%-1467.56%-721.49%-1342.7%-2308.86%-70.92%3.17%0.86%
Net Income Growth %-151.05%57.4%53.81%-172.06%-6.18%-42.34%-30.6%44.66%110.23%103.95%
Net Income (Continuing)-45.12M-19.22M-8.88M-24.16M-25.65M-36.51M-47.68M-26.39M2.7M561K
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)
-999999.00▲ 0%
-503.85▲ 99.9%
-342.82▲ 32.0%
-8.35▲ 97.6%
-3.59▲ 57.0%
-4.12▼ 14.7%
-2.94▲ 28.7%
-0.93▲ 68.5%
0.07▲ 107.3%
0.02▲ 0%
EPS Growth %99.83%99.98%31.96%97.56%57.04%-14.74%28.67%68.5%107.3%101.13%
EPS (Basic)-999999.00-503.85-342.82-8.35-3.59-4.12-2.94-0.930.08-
Diluted Shares Outstanding2038.15K25.9K2.9M7.15M8.86M16.23M28.51M39.92M36.02M
Basic Shares Outstanding2038.15K25.9K2.9M7.15M8.86M16.23M28.51M35.82M36.02M
Dividend Payout Ratio----------

DCTH Balance Sheet

Delcath Systems, Inc. (DCTH) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Total Current Assets7.59M5.92M12.62M32.34M31.15M16.16M37.16M73.76M119.53M120.27M
Cash & Short-Term Investments4M2.52M10M28.57M22.8M7.67M32.45M53.23M91.04M89.3M
Cash Only4M2.52M10M28.57M22.8M7.67M12.65M32.41M43.45M41.31M
Short-Term Investments00000019.81M20.82M47.58M47.99M
Accounts Receivable317K1.16M21K57K44K366K483K11.06M11.74M14.16M
Days Sales Outstanding42.62124.74.8512.644.5249.1385.37108.550.2979.66
Inventory1.25M858K654K855K1.41M2M3.32M6.93M10.25M9.81M
Days Inventory Outstanding649.81310.38332487.62768.081.06K1.91K408.94317.2421.27
Other Current Assets1.47M1.19M626K509K4.36M4.25M387K1.39M6.5M7M
Total Non-Current Assets1.3M925K1.59M2.3M1.97M1.71M1.46M2.83M4.1M4.57M
Property, Plant & Equipment1.3M925K1.59M2.3M1.97M1.71M1.46M2.83M4.1M4.57M
Fixed Asset Turnover2.09x3.68x0.99x0.72x1.80x1.59x1.42x13.15x20.78x16.63x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0000000000
Other Non-Current Assets0000000000
Total Assets
8.89M▲ 0%
6.84M▼ 23.0%
14.21M▲ 107.7%
34.63M▲ 143.7%
33.12M▼ 4.4%
17.86M▼ 46.1%
38.61M▲ 116.2%
76.59M▲ 98.4%
123.63M▲ 61.4%
124.84M▲ 0%
Asset Turnover0.31x0.50x0.11x0.05x0.11x0.15x0.05x0.49x0.69x0.53x
Asset Growth %-74.78%-22.99%107.66%143.7%-4.36%-46.08%116.17%98.35%61.42%641.36%
Total Current Liabilities7.81M17.75M15.99M10.04M5.95M14.73M16.45M6.14M10.95M10.7M
Accounts Payable3.85M7.71M4.53M1.77M638K2.02M1.01M961K2.66M3.46M
Days Payables Outstanding2K2.79K2.3K1.01K347.051.07K581.756.6882.24132.21
Short-Term Debt02.04M02M621K7.85M10.15M0092K
Deferred Revenue (Current)03.4M482K525K170K00000
Other Current Liabilities2.84M6.21M9.39M4.3M2.41M1.04M1.93M3.71M8.19M7.14M
Current Ratio0.97x0.33x0.79x3.22x5.23x1.10x2.26x12.01x10.92x10.92x
Quick Ratio0.81x0.29x0.75x3.14x4.99x0.96x2.06x10.88x9.98x9.98x
Cash Conversion Cycle-1.31K-2.36K-1.96K-511.48425.5538.491.41K460.76285.25368.72
Total Non-Current Liabilities395K4.03M4.58M2.52M15.22M8.99M6.39M1.7M1.46M1.43M
Long-Term Debt002M015.01M7.84M000815K
Capital Lease Obligations00197K450K207K00933K835K2.57M
Deferred Tax Liabilities0000000000
Other Non-Current Liabilities395K628K0001.14M6.39M766K628K2.4M
Total Liabilities8.21M21.78M20.57M12.56M21.17M23.72M22.84M7.84M12.41M12.13M
Total Debt02.04M2.86M2.94M16.25M15.87M10.19M1.04M936K907K
Net Debt-4M-478K-7.14M-25.63M-6.55M8.2M-2.46M-31.37M-42.52M-40.41M
Debt / Equity---0.13x1.36x-0.65x0.02x0.01x0.01x
Debt / EBITDA--------0.93x-0.65x
Net Debt / EBITDA---------42.14x-42.14x
Interest Coverage-1.08x-1.42x-0.87x-137.03x-20.63x-12.60x-26.53x---
Total Equity
678K▲ 0%
-14.94M▼ 2303.4%
-6.36M▲ 57.4%
22.08M▲ 447.3%
11.95M▼ 45.9%
-5.86M▼ 149.0%
15.78M▲ 369.3%
68.75M▲ 335.7%
111.22M▲ 61.8%
112.71M▲ 0%
Equity Growth %145.5%-2303.39%57.45%447.3%-45.86%-149.02%369.28%335.74%61.78%3746.65%
Book Value per Share33772.94-391.59-245.447.621.67-0.660.972.412.793.13
Total Shareholders' Equity678K-14.94M-6.36M22.08M11.95M-5.86M15.78M68.75M111.22M112.71M
Common Stock1.14M103K1K60K79K100K228K331K347K344K
Retained Earnings-324.83M-344.05M-371.17M-395.33M-420.98M-457.48M-505.16M-531.55M-528.85M-529.92M
Treasury Stock-51K000000000
Accumulated OCI42K50K28K-104K18K-83K135K82K575K571K
Minority Interest0000000000

DCTH Cash Flow Statement

Delcath Systems, Inc. (DCTH) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25TTM
Cash from Operations-15.4M-14.73M-23.69M-22.87M-22.6M-24.95M-31.25M-18.68M22.52M22.52M
Operating CF Margin %-567.15%-432.4%-1499.3%-1389.31%-635.84%-917.62%-1513.37%-50.21%26.42%-
Operating CF Growth %-8.34%4.33%-60.8%3.47%1.15%-10.38%-25.25%40.22%220.53%1353.73%
Net Income-45.12M-19.22M-8.88M-24.16M-25.65M-36.51M-47.68M-26.39M2.7M561K
Depreciation & Amortization310K444K249K192K146K132K128K229K349K413K
Stock-Based Compensation129K58K277K3.91M7.83M7.94M8.15M9.77M24.23M16.67M
Deferred Taxes5.23M-15.76M02.83M000000
Other Non-Cash Items21.54M7.97M-9.77M159K831K1.37M9.05M13.23M-1.7M1.11M
Working Capital Changes2.51M11.77M-5.56M-5.81M-5.76M2.11M-906K-15.52M-3.07M2.42M
Change in Receivables108K-293K497K-36K13K-322K125K-10.65M-854K-217K
Change in Inventory-543K385K204K-201K-557K-587K-1.32M-3.61M-3.32M-2.68M
Change in Payables3.18M8.18M-4.79M-5.31M-1.14M1.8M-199K479K4.77M5.42M
Cash from Investing-524K-76K-24K-782K-143K-209K-19.71M-981K-26.59M-2.01M
Capital Expenditures-524K-76K-24K-782K-143K-209K-58K-559K-1.55M-1.98M
CapEx % of Revenue19.3%2.23%1.52%47.51%4.02%7.69%2.81%1.5%1.82%-
Acquisitions0000000000
Investments----------
Other Investing0000000000
Cash from Financing15.45M13.24M30.3M42.35M20.82M10.14M51.78M39.41M15.05M9.41M
Debt Issued (Net)0794K3.68M-26K14.44M-714K-6.31M-10.61M00
Equity Issued (Net)0026.63M39.76M3.92M10.86M23.08M7.02M15.05M11.79M
Dividends Paid-527K000000000
Share Repurchases00000000-6M-5.61M
Other Financing2.85M12.44M02.62M2.46M035.01M43M0-2.38M
Net Change in Cash
-410K▲ 0%
-1.75M▼ 325.9%
6.61M▲ 478.4%
18.57M▲ 181.2%
-1.8M▼ 109.7%
-15.13M▼ 739.2%
874K▲ 105.8%
19.72M▲ 2155.8%
11.04M▼ 44.0%
28.54M▲ 0%
Free Cash Flow
-15.92M▲ 0%
-14.81M▲ 7.0%
-23.71M▼ 60.1%
-23.65M▲ 0.3%
-22.75M▲ 3.8%
-25.16M▼ 10.6%
-31.31M▼ 24.4%
-19.24M▲ 38.5%
20.97M▲ 209.0%
19.19M▲ 0%
FCF Margin %-586.45%-434.63%-1500.82%-1436.82%-639.86%-925.3%-1516.17%-51.71%24.6%29.33%
FCF Growth %-10.03%7%-60.14%0.27%3.82%-10.6%-24.44%38.55%208.99%353.21%
FCF per Share-793116.15-388.15-915.56-8.16-3.18-2.84-1.93-0.670.530.53
FCF Conversion (FCF/Net Income)0.34x0.77x2.67x0.95x0.88x0.68x0.66x0.71x8.34x34.21x
Interest Paid0000000000
Taxes Paid0000000000

DCTH Key Ratios

Delcath Systems, Inc. (DCTH) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201720182019202020212022202320242025TTM
Return on Equity (ROE)-6654.42%---307.31%-150.74%-1198.36%-961.44%-62.44%3%0.51%
Return on Invested Capital (ROIC)-660.87%----1985.78%-655.3%-365.68%-36.72%0.93%0.93%
Gross Margin74.18%70.38%54.49%61.12%81.13%74.77%69.25%83.37%86.16%118.8%
Net Margin-1661.77%-564.19%-561.96%-1467.56%-721.49%-1342.7%-2308.86%-70.92%3.17%0.86%
Debt / Equity---0.13x1.36x-0.65x0.02x0.01x0.01x
Interest Coverage-1.08x-1.42x-0.87x-137.03x-20.63x-12.60x-26.53x---
FCF Conversion0.34x0.77x2.67x0.95x0.88x0.68x0.66x0.71x8.34x34.21x
Revenue Growth36.3%25.49%-53.62%4.18%115.98%-23.52%-24.05%1701.69%129.08%21.54%

DCTH SEC Filings & Documents

Delcath Systems, Inc. (DCTH) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 7, 2026·SEC

Material company update

Mar 3, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2026

Feb 26, 2026·SEC

FY 2025

Mar 6, 2025·SEC

FY 2024

Mar 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 4, 2025·SEC

FY 2025

Aug 6, 2025·SEC

DCTH Frequently Asked Questions

Delcath Systems, Inc. (DCTH) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Delcath Systems, Inc. (DCTH) reported $65.4M in revenue for fiscal year 2025.

Delcath Systems, Inc. (DCTH) grew revenue by 129.1% over the past year. This is strong growth.

Yes, Delcath Systems, Inc. (DCTH) is profitable, generating $0.6M in net income for fiscal year 2025 (3.2% net margin).

Dividend & Returns

Delcath Systems, Inc. (DCTH) has a return on equity (ROE) of 3.0%. This is below average, suggesting room for improvement.

Delcath Systems, Inc. (DCTH) generated $19.2M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

Explore More DCTH

Delcath Systems, Inc. (DCTH) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

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Financial Ratios

30 years of market, efficiency and balance-sheet ratios

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Valuation

DCF intrinsic value, peer multiples & estimates

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