Latest Ratios: P/E Ratio -9.3x · EV/EBITDA N/A · ROE -40.3%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $750M | $1.2B | — | — | — |
| Enterprise Value | $731M | $1.2B | — | — | — |
| P/E Ratio → | -9.29 | — | — | — | — |
| P/S Ratio | 7.48 | 12.32 | — | — | — |
| P/B Ratio | 2.37 | 4.29 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 12.13 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | 55.4% | 55.4% | 55.1% | 52.6% | 100.0% |
| Operating Margin | -71.5% | -71.5% | -69.5% | -298.9% | -36784.4% |
| Net Profit Margin | -73.0% | -73.0% | -84.1% | -367.6% | -36173.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -40.3% | -40.3% | -81.3% | -123.2% | -498.1% |
| ROA | -30.6% | -30.6% | -42.2% | -60.6% | -182.3% |
| ROIC | -33.5% | -33.5% | -76.2% | -209.1% | — |
| ROCE | -33.6% | -33.6% | -39.7% | -56.9% | -247.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.04 | 0.04 | 0.10 | 0.07 | 0.32 |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.07 | -0.30 | -0.38 | -1.81 |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -4624.57 |
Net cash position: cash ($32M) exceeds total debt ($13M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 8.66 | 8.66 | 6.29 | 9.77 | 3.21 |
| Quick Ratio | 7.96 | 7.96 | 5.66 | 9.65 | 3.21 |
| Cash Ratio | 7.09 | 7.09 | 4.90 | 9.12 | 3.12 |
| Asset Turnover | — | 0.30 | 0.44 | 0.11 | 0.01 |
| Inventory Turnover | 2.06 | 2.06 | 2.19 | 4.57 | — |
| Days Sales Outstanding | — | 62.32 | 67.23 | 135.35 | — |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $41M | $6M | $5M | $5M |
Imminent liquidity and dilution
Based on current market data, BBNX trades at a price-to-sales multiple of 7.48, which appears to reflect high investor expectations for future market share capture despite the company's lack of positive earnings and the significant risks associated with its early-stage commercialization phase in the US market.
The 7.48x P/S multiple suggests that the market is pricing BBNX as a high-growth technology disruptor rather than a traditional medical device manufacturer. Investors should monitor whether this valuation can be sustained if the pace of new patient starts fails to accelerate sufficiently to offset the company's substantial cash burn.
As reported in financial statements, BBNX's ROIC has remained consistently negative, reaching -7.1% in 2026Q1, which indicates that the company is currently destroying shareholder value as it invests heavily in the infrastructure required to support the iLet Bionic Pancreas commercial rollout and ongoing research initiatives.
The persistent negative ROIC suggests that the capital deployed into the business is not yet generating returns above the cost of capital. This trend warrants further investigation into whether the company's manufacturing and marketing investments will eventually achieve the scale necessary to drive positive returns on invested capital.
According to recent quarterly filings, BBNX's cash conversion cycle reached 210 days in 2026Q1, a significant increase from previous periods that highlights the operational friction and inventory management challenges inherent in scaling a specialized medical device business within a complex insurance reimbursement environment.
The high DIO of 183 days suggests that the company is carrying substantial inventory, which may be a strategic buffer or a sign of inefficient supply chain management. Investors should monitor whether the company can optimize its working capital as it gains more experience with its commercial distribution channels.
Based on the company's reported figures, the current ratio of 10.69 in 2026Q1 appears robust on the surface, yet this metric is heavily influenced by the company's cash position, which is rapidly depleting due to ongoing operating losses and high capital expenditure requirements for growth.
While the high current ratio suggests an ability to meet short-term obligations, the underlying cash burn rate indicates that this liquidity buffer is shrinking rapidly. This situation may necessitate a dilutive capital raise in the near term to ensure the company maintains sufficient operational runway.
The price-to-sales ratio is frequently misapplied to BBNX, as it obscures the company's reliance on hardware-heavy revenue that carries lower margins compared to the recurring consumable revenue streams that are essential for long-term profitability in the insulin delivery market.
Investors should instead focus on the ratio of recurring consumable revenue to total revenue, as this provides a clearer picture of the company's long-term earning power. Relying solely on P/S may lead to an overestimation of the company's value if the hardware-to-consumable conversion rate does not meet expectations.
Includes 30+ ratios · 4 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying BBNX stock.
Beta Bionics, Inc.'s current P/E ratio is -9.3x. This places it at the 50th percentile of its historical range.
Beta Bionics, Inc.'s return on equity (ROE) is -40.3%. The historical average is -185.7%.
Based on historical data, Beta Bionics, Inc. is trading at a P/E of -9.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Beta Bionics, Inc. has 55.4% gross margin and -71.5% operating margin.