Latest Ratios: P/E Ratio -2.4x · EV/EBITDA N/A · ROE -58.7%. (2011–2025 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 | $81M | $311M | $297M | $207M | $407M | $216M | $233M | $158M | $180M | $108M | $61M |
| Enterprise Value | $27M | $257M | $258M | $80M | $278M | $2M | $170M | $128M | $133M | $90M | $50M |
| P/E Ratio → | -2.41 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 1.83 | 7.03 | 4.18 | 1.73 | 2.69 | 1.05 | 3.92 | 3.28 | 2.08 | 2.73 | 2.81 |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -58.7% | -58.7% | -58.5% | -27.7% | -34.8% | -43.6% | -69.8% | -90.3% | -61.6% | -72.9% | -80.4% |
| ROA | -38.3% | -38.3% | -44.2% | -22.8% | -29.9% | -36.5% | -47.3% | -71.3% | -55.9% | -64.4% | -70.0% |
| ROIC | -245.8% | -245.8% | -369.4% | -419.5% | -649.5% | — | -355.0% | -164.1% | -99.0% | -105.9% | -124.8% |
| ROCE | -54.1% | -54.1% | -56.7% | -29.3% | -32.4% | -38.5% | -54.5% | -84.5% | -62.3% | -70.6% | -76.3% |
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 | 0.35 | 0.35 | 0.22 | 0.13 | 0.11 | 0.08 | 0.26 | 0.31 | — | 0.03 | 0.06 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.23 | -0.55 | -1.06 | -0.85 | -1.04 | -1.05 | -0.62 | -0.55 | -0.47 | -0.49 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -16.76 | -16.76 | -28.00 | -17.13 | -35.61 | -32.16 | -19.13 | -101.90 | -263.95 | -195.91 | -176.23 |
Net cash position: cash ($70M) exceeds total debt ($16M)
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 | 2.58 | 2.58 | 5.59 | 6.64 | 11.78 | 19.77 | 6.69 | 5.82 | 11.18 | 13.11 | 10.93 |
| Quick Ratio | 2.58 | 2.58 | 5.59 | 6.64 | 11.78 | 19.77 | 6.69 | 5.82 | 11.18 | 13.11 | 10.93 |
| Cash Ratio | 2.52 | 2.52 | 5.44 | 6.42 | 11.35 | 19.52 | 6.27 | 5.68 | 11.05 | 12.81 | 10.84 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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% | 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 | — | $60M | $59M | $59M | $58M | $54M | $34M | $27M | $22M | $16M | $11M |
Includes 30+ ratios · 15 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ALDX stock.
Aldeyra The's current P/E ratio is -2.4x. This places it at the 50th percentile of its historical range.
Aldeyra The's return on equity (ROE) is -58.7%. The historical average is -67.3%.
Based on historical data, Aldeyra The is trading at a P/E of -2.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Regulatory and liquidity constraints
Metrics are mathematically derived from official filings.
Speculative Valuation Amidst Clinical Uncertainty
Based on reported figures, the company's P/B ratio of 2.48 reflects a market valuation tethered to intellectual property rather than earnings, as the negative TTM P/E of -3.27 underscores the lack of commercial revenue to support current market capitalization in the absence of regulatory approval.
The valuation appears to be driven entirely by the potential of the RASP platform rather than fundamental financial performance. Investors should monitor whether this premium holds if clinical milestones continue to face delays, as the current pricing implies a high probability of successful commercialization that remains unproven.
Capital Erosion Through R&D Intensity
According to recent SEC filings, the ROIC has trended deeply negative, reaching -34.2% in 2025Q3, which illustrates the significant destruction of invested capital as the company prioritizes high-cost clinical trials over the generation of positive returns on its shareholders' equity.
The persistent negative ROIC is a direct consequence of the company's pre-revenue status and the heavy reliance on external capital to fund R&D. This trend suggests that until the company can transition to a commercial model, capital efficiency will remain secondary to the survival of its clinical pipeline.
Liquidity Buffer Tightening Under Pressure
As reported in financial statements, the current ratio has fluctuated from 6.64 in 2023Q4 to 2.72 in 2026Q1, signaling a tightening liquidity position that leaves the company increasingly exposed to the high costs of ongoing Phase 3 clinical trials and potential regulatory setbacks.
While the current ratio remains above 2.0, the rapid decline in absolute cash levels suggests that the company's runway is shortening. This warrants further investigation into whether the current liquidity is sufficient to reach a commercial inflection point without requiring additional dilutive equity financing.
Conservative Debt Profile Preserves Optionality
Based on reported figures, the company maintains a modest D/E ratio of 0.37 as of 2026Q1, which indicates that management has successfully avoided significant debt-related interest burdens while navigating the capital-intensive nature of its late-stage ocular drug development programs.
The low leverage is a prudent choice for a pre-revenue entity, as it avoids the risk of covenant breaches or insolvency during periods of clinical uncertainty. However, this reliance on equity financing means that shareholders bear the full brunt of the company's ongoing cash burn.
Misapplication of Traditional Valuation Multiples
As indicated by the company's financial disclosures, the use of P/E or EV/EBITDA ratios is fundamentally misapplied to this business model, as these metrics obscure the reality that the company is currently a clinical-stage entity with no recurring revenue or operational earnings to measure.
Investors should instead focus on metrics like cash runway and the probability-weighted net present value of the pipeline. Applying standard valuation multiples to a pre-revenue biotech firm risks misinterpreting the company's true financial health and the binary nature of its regulatory-driven value proposition.