Latest Ratios: P/E Ratio -0.1x · EV/EBITDA N/A · ROE -530.0%. (2017–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15M | $119M | $282M | $29M | $229M | $483M | $350M | — | — |
| Enterprise Value | $-61740031 | $43M | $233M | $14M | $177M | $429M | $333M | — | — |
| P/E Ratio → | -0.14 | — | — | — | — | — | — | — | — |
| P/S Ratio | 32.67 | 262.57 | 28.24 | — | — | — | — | — | — |
| P/B Ratio | 0.25 | 2.10 | — | 7.08 | 3.66 | 5.90 | 10.73 | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 94.21 | 23.33 | — | — | — | — | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | -10613.0% | -10613.0% | -439.4% | — | — | — | — | — | — |
| Operating Margin | -22922.9% | -22922.9% | -645.8% | — | — | — | — | — | — |
| Net Profit Margin | -23214.1% | -23214.1% | -1198.5% | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -530.0% | -530.0% | — | -247.8% | -146.2% | -164.1% | -188.0% | -278.7% | — |
| ROA | -149.3% | -149.3% | -257.0% | -128.7% | -108.6% | -122.9% | -132.6% | -140.4% | -130.3% |
| ROIC | — | — | — | -80795.5% | -416.3% | -328.9% | -531.4% | — | — |
| ROCE | -484.6% | -484.6% | — | -242.7% | -144.0% | -160.7% | -181.9% | -149.3% | -186.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | — | 0.49 | 0.03 | 0.03 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.34 | — | -3.61 | -0.83 | -0.67 | -0.52 | -1.19 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -190.30 | -168.99 | -490.13 | — | — |
Net cash position: cash ($79M) exceeds total debt ($3M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.06 | 3.06 | 0.76 | 1.12 | 3.34 | 4.83 | 3.27 | 4.57 | 3.31 |
| Quick Ratio | 3.06 | 3.06 | 0.72 | 1.12 | 3.34 | 4.83 | 3.27 | 4.57 | 3.31 |
| Cash Ratio | 2.91 | 2.91 | 0.70 | 0.91 | 3.05 | 4.56 | 2.76 | 4.23 | 3.30 |
| Asset Turnover | — | 0.01 | 0.18 | — | — | — | — | — | — |
| Inventory Turnover | 16.42 | — | 16.42 | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 10.41 | — | — | — | — | — | — |
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 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.7% | — | — |
| Shares Outstanding | — | $140M | $84M | $38M | $26M | $22M | $13M | $9M | $9M |
Regulatory binary outcome risk
According to recent market data, APLT trades at a price-to-sales multiple of 32.67, a figure that appears disconnected from fundamental performance and instead reflects investor anticipation of potential regulatory approval for govorestat rather than any underlying commercial revenue generation or established earnings power.
The current valuation multiple is largely an artifact of the company's pre-commercial status, where traditional metrics like P/E are non-meaningful due to persistent losses. Investors should monitor whether this premium holds as the PDUFA date approaches, as any further regulatory delays could lead to significant multiple compression.
As reported in quarterly financial statements, the company's operating margin of -22922.86% highlights a structural inability to cover R&D expenditures, confirming that current profitability metrics are entirely dictated by the high costs of clinical trial execution rather than operational efficiency or product-level margins.
The extreme volatility in net margins, including anomalous positive quarters, suggests that non-operating items are significantly distorting the financial picture. Analysts should focus on the underlying cash burn rate as the only reliable indicator of the company's true economic health until a commercial product is launched.
Based on the 2025Q3 balance sheet, the company's current ratio has compressed to 0.96, a marked deterioration from the 3.06 ratio observed in 2024Q1, which indicates that current liabilities now exceed current assets and leaves the firm with limited flexibility to manage near-term operational obligations.
This liquidity profile suggests that the company is increasingly reliant on external financing to maintain its clinical programs. Investors should monitor the cash runway closely, as the current ratio indicates a heightened risk of near-term capital raises that could further dilute existing equity holders.
As indicated by the company's nominal TTM revenue of $455,000, the price-to-sales ratio is a fundamentally flawed metric for APLT, as it obscures the reality that the firm is currently a clinical-stage research entity rather than a commercial enterprise with a predictable revenue stream.
Using P/S to value this business model is misleading because it implies a level of commercial maturity that does not exist. A more appropriate approach would involve probability-weighted net present value (rNPV) analysis of the clinical pipeline, which accounts for regulatory success probabilities rather than current accounting revenue.
Includes 30+ ratios · 8 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying APLT stock.
Applied Therapeutics, Inc.'s current P/E ratio is -0.1x. This places it at the 50th percentile of its historical range.
Applied Therapeutics, Inc.'s return on equity (ROE) is -530.0%. The historical average is -204.9%.
Based on historical data, Applied Therapeutics, Inc. is trading at a P/E of -0.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Applied Therapeutics, Inc. has -10613.0% gross margin and -22922.9% operating margin.