Adaptive Biotechnologies Corporation (ADPT) Financial Ratios
9 years of historical data (2017–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
30Y Low19.2·High19.2
P/B Ratio
↑
9.91
↑+87% vs avg
5yr avg: 5.29
30Y Low2.3·High11.0
ROE
↑
-27.8%
↓+36% vs avg
5yr avg: -43.4%
30Y Low-62%·High-22%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ADPT Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Adaptive Biotechnologies Corporation currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.4B | $2.5B | $883M | $707M | $1.1B | $3.9B | $7.8B | $3.7B | — | — |
| Enterprise Value | $2.6B | $2.7B | $924M | $741M | $1.1B | $3.9B | $7.7B | $3.7B | — | — |
| P/E Ratio → | -37.67 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 8.49 | 8.90 | 4.93 | 4.15 | 5.88 | 25.52 | 78.86 | 43.73 | — | — |
| P/B Ratio | 9.91 | 10.95 | 4.36 | 2.29 | 2.35 | 6.52 | 10.44 | 6.51 | — | — |
| P/FCF | — | — | — | — | — | — | — | 19.16 | — | — |
| P/OCF | — | — | — | — | — | — | — | 18.11 | — | — |
P/E links to full P/E history page with 30-year chart
ADPT EV Ratios
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.65 | 5.16 | 4.35 | 5.97 | 25.34 | 78.71 | 43.03 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | 18.85 | — | — |
ADPT Profitability
Margins and return-on-capital ratios measuring operating efficiency
Adaptive Biotechnologies Corporation earns an operating margin of -20.6%. Operating margins have expanded from -133.3% to -20.6% over the past 3 years, signaling improving operational efficiency. A negative ROE of -27.8% indicates the company is currently destroying shareholder equity.
Margins
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.2% | 74.2% | 59.7% | 55.6% | 68.7% | 68.1% | 77.1% | 73.8% | 64.7% | 59.2% |
| Operating Margin | -20.6% | -20.6% | -90.8% | -133.3% | -108.0% | -135.4% | -155.3% | -92.1% | -89.4% | -115.7% |
| Net Profit Margin | -21.5% | -21.5% | -89.1% | -132.3% | -108.0% | -134.3% | -148.6% | -80.6% | -83.4% | -111.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -27.8% | -27.8% | -62.5% | -58.3% | -37.5% | -30.8% | -22.3% | -43.8% | — | — |
| ROA | -11.3% | -11.3% | -26.6% | -29.7% | -22.5% | -20.3% | -14.4% | -11.0% | -13.4% | -11.8% |
| ROIC | -12.6% | -12.6% | -41.6% | -41.3% | -28.4% | -24.0% | -18.5% | -15.5% | -14.9% | — |
| ROCE | -13.2% | -13.2% | -32.0% | -34.4% | -25.7% | -23.0% | -16.6% | -13.7% | -15.3% | -13.0% |
ADPT Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $210M ($281M total debt minus $70M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.25 | 1.25 | 0.44 | 0.32 | 0.23 | 0.18 | 0.15 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.93 | 0.20 | 0.11 | 0.04 | -0.05 | -0.02 | -0.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | -0.31 | — | — |
| Interest Coverage | -4.05 | -4.05 | -12.78 | -15.33 | -46.28 | — | — | — | — | — |
ADPT Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Adaptive Biotechnologies Corporation's current ratio of 3.34x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 4.66x to 3.34x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.34 | 3.34 | 2.89 | 4.66 | 5.12 | 3.54 | 6.91 | 7.82 | 7.93 | 9.77 |
| Quick Ratio | 3.23 | 3.23 | 2.81 | 4.50 | 4.99 | 3.37 | 6.78 | 7.71 | 7.58 | 9.54 |
| Cash Ratio | 2.52 | 2.52 | 2.27 | 3.94 | 4.54 | 3.10 | 6.54 | 7.37 | 7.24 | 9.15 |
| Asset Turnover | — | 0.54 | 0.33 | 0.26 | 0.22 | 0.17 | 0.09 | 0.09 | 0.17 | 0.11 |
| Inventory Turnover | 7.27 | 7.27 | 8.54 | 5.23 | 4.01 | 2.56 | 1.60 | 2.46 | 2.51 | 3.27 |
| Days Sales Outstanding | — | 66.37 | 85.11 | 81.39 | 78.90 | 41.17 | 37.27 | 54.39 | 31.52 | 52.99 |
ADPT Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Adaptive Biotechnologies Corporation does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | 5.2% | — | — |
| 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% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $152M | $147M | $144M | $143M | $140M | $131M | $124M | $105M | $105M |
Peer Comparison
Compare ADPT with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ADPTYou | $2B | -37.7 | — | — | 74.2% | -20.6% | -27.8% | -12.6% | — |
 NTRA | $31B | -144.6 | — | 285.5 | 64.8% | -13.4% | -14.3% | -36.1% | — |
 EXAS | $20B | -95.4 | — | 56.1 | 69.7% | -6.4% | -8.7% | -3.6% | — |
 PACB | $498M | -0.9 | — | — | 31.7% | -348.5% | -213.5% | -45.8% | — |
 TWST | $4B | -45.0 | — | — | 50.7% | -36.2% | -16.4% | -26.9% | — |
 ILMN | $21B | 25.5 | 19.6 | 22.6 | 66.7% | 19.9% | 33.4% | 16.8% | 2.3 |
 FLGT | $449M | -7.7 | — | — | 40.6% | -28.2% | -5.4% | -6.4% | — |
 CDNA | $1B | -53.6 | — | 30.7 | 67.0% | -5.5% | -6.3% | -5.7% | — |
 VCYT | $3B | 49.7 | 30.7 | 25.7 | 69.6% | 14.3% | 5.3% | 5.6% | 0.4 |
 TMO | $176B | 26.8 | 19.0 | 28.0 | 37.7% | 18.2% | 13.1% | 7.5% | 3.8 |
 DHR | $124B | 34.9 | 18.2 | 23.6 | 60.9% | 20.9% | 7.1% | 5.9% | 2.4 |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying ADPT stock.
What is Adaptive Biotechnologies Corporation's P/E ratio?
Adaptive Biotechnologies Corporation's current P/E ratio is -37.7x. This places it at the 50th percentile of its historical range.
What is Adaptive Biotechnologies Corporation's ROE?
Adaptive Biotechnologies Corporation's return on equity (ROE) is -27.8%. The historical average is -40.4%.
Is ADPT stock overvalued?
Based on historical data, Adaptive Biotechnologies Corporation is trading at a P/E of -37.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Adaptive Biotechnologies Corporation's profit margins?
Adaptive Biotechnologies Corporation has 74.2% gross margin and -20.6% operating margin.