Latest Ratios: P/E Ratio -8.2x · EV/EBITDA N/A · ROE -66.6%. (1996–2025 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 | $95M | $134M | $112M | $98M | $170M | $136M | $46M | $77M | $71M | $25M | $55M |
| Enterprise Value | $94M | $133M | $111M | $97M | $158M | $107M | $39M | $73M | $68M | $22M | $57M |
| P/E Ratio → | -8.21 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | 466.18 | — | 266.25 | — | 306.35 | 64.16 | 68.98 | 184.99 |
| P/B Ratio | 6.49 | 9.61 | 5.91 | 4.19 | 6.03 | 3.92 | 5.54 | 15.91 | 13.77 | 3.16 | 56.20 |
| 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 | — | — | — | 462.65 | — | 209.94 | — | 292.38 | 61.41 | 59.77 | 190.60 |
| 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 | — | — | — | 23.3% | — | 24.8% | — | 33.5% | 1.7% | 71.2% | 27.5% |
| Operating Margin | — | — | — | -5243.3% | — | -2565.6% | — | -4756.0% | -1232.0% | -1676.0% | -1503.0% |
| Net Profit Margin | — | — | — | -4671.9% | — | -2528.6% | — | -4658.8% | -1258.1% | -1381.8% | -1672.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -66.6% | -66.6% | -59.4% | -38.0% | -43.2% | -60.2% | -155.0% | -233.0% | -213.6% | -112.4% | -166.1% |
| ROA | -58.0% | -58.0% | -53.3% | -35.1% | -40.8% | -56.6% | -128.7% | -182.8% | -183.4% | -69.4% | -67.0% |
| ROIC | -57.1% | -57.1% | -51.3% | -42.7% | -94.8% | -252.6% | -464.4% | -517.2% | -306.3% | -125.6% | -201.6% |
| ROCE | -70.5% | -70.5% | -65.0% | -42.5% | -43.8% | -60.7% | -152.6% | -237.9% | -209.2% | -92.9% | -64.9% |
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 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | — | — | — | 4.22 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.07 | -0.06 | -0.03 | -0.43 | -0.83 | -0.77 | -0.73 | -0.59 | -0.42 | 1.70 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -132.41 | -40795.03 | — | — | — | -9.01 | -8.65 |
Net cash position: cash ($1M) exceeds total debt ($204000)
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 | 8.08 | 8.08 | 8.54 | 12.50 | 14.83 | 28.35 | 7.88 | 4.11 | 4.38 | 7.89 | 7.25 |
| Quick Ratio | 8.08 | 8.08 | 8.54 | 12.50 | 14.85 | 28.35 | 7.88 | 5.70 | 4.38 | 7.89 | 7.25 |
| Cash Ratio | 7.71 | 7.71 | 7.97 | 11.76 | 14.57 | 28.13 | 7.62 | 3.94 | 4.00 | 7.69 | 6.91 |
| Asset Turnover | — | — | — | 0.01 | — | 0.01 | — | 0.04 | 0.17 | 0.04 | 0.05 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | 469.29 | — | — | — | 97.13 | 100.72 | — | — |
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% | 2.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 2.0% | 0.0% |
| Shares Outstanding | — | $32M | $32M | $31M | $30M | $29M | $22M | $20M | $18M | $12M | $9M |
Imminent liquidity and dilution
Based on reported figures, Anixa trades at a price-to-book ratio of 6.49, which appears to reflect investor optimism regarding its FSHR-targeting pipeline rather than any tangible asset backing, as the company remains pre-revenue and heavily reliant on external clinical trial milestones for future valuation support.
The current P/B multiple suggests that the market is pricing the company as a speculative option on its intellectual property portfolio rather than a traditional industrial entity. Investors should monitor whether this premium holds as the cash runway tightens, as historical valuation levels may prove unsustainable without immediate clinical data catalysts.
As reported in financial statements, Anixa's ROIC has consistently trended in negative territory, reaching -16.3% in 2026Q2, which highlights the structural inability of the current asset-light model to generate positive returns while the company remains in a pre-commercial, high-burn research and development phase.
The negative ROIC trend is a direct consequence of the company's reliance on external academic partnerships to fund its clinical programs without offsetting revenue. This decay in returns on invested capital suggests that shareholders are effectively subsidizing the research process, with no clear path to profitability until a commercial milestone is achieved.
According to recent SEC filings, the company's current ratio has compressed from 15.19 in 2024Q1 to 9.79 in 2026Q2, signaling a steady erosion of the liquidity buffer necessary to sustain ongoing clinical trials in the absence of any meaningful revenue generation or self-funding operational capacity.
While the current ratio remains numerically high, it masks the reality of a rapidly depleting cash balance that is insufficient to cover long-term clinical development costs. This liquidity profile warrants close investigation, as the company appears increasingly vulnerable to external financing shocks that could force dilutive equity issuance.
Investors frequently misapply the price-to-earnings ratio to Anixa, which is fundamentally flawed given the company's pre-revenue status and persistent net losses, as reported in financial statements, rendering traditional earnings-based valuation multiples entirely irrelevant for assessing the firm's true clinical and strategic value.
Using P/E ratios for a clinical-stage biotech obscures the reality that the company is a project-based entity where value is derived from trial outcomes rather than current profitability. Analysts should instead focus on cash-burn-to-runway metrics, which provide a more accurate assessment of the company's survival probability and potential for future dilution.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying ANIX stock.
Anixa Biosciences, Inc.'s current P/E ratio is -8.2x. This places it at the 50th percentile of its historical range.
Anixa Biosciences, Inc.'s return on equity (ROE) is -66.6%. The historical average is -138.8%.
Based on historical data, Anixa Biosciences, Inc. is trading at a P/E of -8.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.