Last 29 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Adaptive Biotechnologies Corporation's quarterly P/E stands at 63.9x.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -15.22 | 63.93 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 14.02 | 6.49 | 7.52 | 5.28 | 4.65 | 4.07 | 3.09 | 2.79 | 3.88 | 5.20 | 4.95 | 8.42 | 4.95 |
| — | +59.7% | +143.5% | +89.1% | +19.9% | -21.8% | -37.6% | -66.8% | -21.7% | -2.2% | -24.9% | -33.9% | -81.0% | |
| P/B Ratio | 11.94 | 11.95 | 9.87 | 5.83 | 4.36 | 3.38 | 2.21 | 1.70 | 2.30 | 2.18 | 2.45 | 2.99 | 2.35 |
| — | +253.7% | +346.5% | +242.2% | +89.3% | +54.9% | -9.7% | -43.0% | -2.2% | +4.5% | +10.1% | -15.9% | -64.1% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | 41.98 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | 49.29 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Adaptive Biotechnologies Corporation's operating margin was 10.9% in Q3 2025, up 53.5 pp QoQ and up 81.2 pp YoY. This marks the 4th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of -39.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 25.9% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.7% | 80.7% | 69.4% | 67.6% | 62.0% | 64.1% | 55.3% | 56.9% | 57.2% | 49.0% | 63.4% | 50.4% | 69.9% |
| — | +25.9% | +25.6% | +18.9% | +8.4% | +30.9% | -12.8% | +12.9% | -18.3% | -28.8% | -9.1% | -23.5% | +12.5% | |
| Operating Margin | -90.8% | 10.9% | -42.5% | -56.4% | -71.3% | -70.3% | -109.6% | -116.5% | -155.2% | -134.4% | -97.7% | -151.9% | -71.0% |
| — | +115.6% | +61.2% | +51.5% | +54.1% | +47.7% | -12.1% | +23.3% | -118.7% | -41.5% | +18.7% | +7.0% | +56.3% | |
| Net Margin | -89.1% | 10.2% | -43.5% | -56.9% | -71.0% | -69.1% | -107.0% | -113.5% | -151.7% | -132.7% | -97.7% | -153.3% | -72.7% |
| — | +114.7% | +59.4% | +49.8% | +53.2% | +47.9% | -9.5% | +26.0% | -108.6% | -40.1% | +18.0% | +5.7% | +55.0% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -62.5% | 5.0% | -13.9% | -15.2% | -15.8% | -13.8% | -17.9% | -16.3% | -20.7% | -13.3% | -11.7% | -13.0% | -8.4% |
| — | +136.1% | +22.6% | +6.7% | +23.7% | -3.9% | -53.6% | -25.4% | -145.9% | -47.5% | -20.1% | -19.7% | +13.7% | |
| ROA | -26.6% | 1.9% | -5.1% | -5.7% | -6.1% | -5.6% | -7.7% | -7.4% | -10.1% | -6.8% | -6.1% | -7.0% | -4.6% |
| — | +134.5% | +33.7% | +23.3% | +39.1% | +17.3% | -24.8% | -5.9% | -118.5% | -26.7% | +1.7% | +0.7% | +28.0% | |
| ROIC | -41.6% | 3.4% | -8.4% | -9.4% | -9.7% | -8.8% | -12.3% | -11.4% | -14.9% | -10.0% | -8.7% | -9.4% | -6.8% |
| — | +138.6% | +31.9% | +17.1% | +34.6% | +11.5% | -41.8% | -21.8% | -118.1% | -36.8% | -22.0% | -11.6% | +10.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Adaptive Biotechnologies Corporation's Debt/EBITDA ratio is 5.6x — elevated, raising questions about debt serviceability.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.44 | 0.40 | 0.47 | 0.46 | 0.44 | 0.41 | 0.39 | 0.35 | 0.32 | 0.28 | 0.26 | 0.25 | 0.23 |
| — | -2.5% | +20.5% | +30.1% | +37.8% | +46.6% | +49.2% | +40.7% | +37.7% | +25.3% | +21.7% | +21.6% | +25.8% | |
| Debt / EBITDA | — | 5.57 | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 2.89 | 3.38 | 2.84 | 2.92 | 2.89 | 3.52 | 3.99 | 4.51 | 4.66 | 4.67 | 5.00 | 5.56 | 5.12 |
| — | -4.1% | -28.8% | -35.2% | -37.9% | -24.6% | -20.2% | -19.0% | -9.0% | -14.0% | +27.1% | +52.8% | +44.7% | |
| Quick Ratio | 2.81 | 3.26 | 2.75 | 2.82 | 2.81 | 3.38 | 3.84 | 4.35 | 4.50 | 4.46 | 4.80 | 5.34 | 4.99 |
| — | -3.7% | -28.4% | -35.1% | -37.6% | -24.1% | -20.1% | -18.6% | -9.9% | -15.3% | +27.5% | +54.4% | +48.0% | |
| Interest Coverage | -14.04 | 3.46 | -8.49 | -10.19 | -11.46 | -11.10 | -17.55 | -16.29 | -23.59 | -13.95 | -13.26 | -16.20 | -10.93 |
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Includes 30+ ratios · 29 years · Updated daily
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Start ComparisonAdaptive Biotechnologies Corporation's current P/E is -15.2x. The average P/E over the last 1 quarters is 63.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Adaptive Biotechnologies Corporation's current operating margin is -90.8%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Adaptive Biotechnologies Corporation's business trajectory between earnings reports.