Latest Ratios: P/E Ratio 7.0x · EV/EBITDA 7.3x · ROE N/A. (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 | $2.2B | $1.7B | $1.6B | $1.2B | $2.1B | $2.5B | $1.2B | $399M | $833M | $415M | $467M |
| Enterprise Value | $2.5B | $2.1B | $2.3B | $1.9B | $2.6B | $2.6B | $1.3B | $369M | $868M | $419M | $498M |
| P/E Ratio → | 7.04 | 6.45 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 2.48 | 1.95 | 3.45 | 3.47 | 7.88 | 15.78 | 69.96 | 8.17 | 40.32 | 16.46 | 17.70 |
| P/B Ratio | — | — | — | — | — | — | — | 10.43 | — | — | — |
| P/FCF | 6.61 | 5.21 | — | — | — | — | — | — | — | — | — |
| P/OCF | 6.56 | 5.17 | — | — | — | — | — | — | — | — | — |
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 | — | 2.35 | 5.08 | 5.63 | 9.49 | 16.35 | 70.37 | 7.56 | 42.02 | 16.64 | 18.90 |
| EV / EBITDA | 7.34 | 6.00 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 7.37 | 5.93 | 198.14 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 6.27 | — | — | — | — | — | — | — | — | — |
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 | 97.8% | 97.8% | 97.2% | 98.6% | 97.6% | 95.4% | 90.6% | 91.6% | 97.7% | 93.2% | 89.8% |
| Operating Margin | 39.0% | 39.0% | -0.6% | -31.3% | -54.8% | -113.1% | -981.1% | -203.7% | -456.2% | -227.9% | -184.4% |
| Net Profit Margin | 30.2% | 30.2% | -19.7% | -68.4% | -91.2% | -117.1% | -1026.4% | -223.0% | -490.3% | -261.2% | -209.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -1925.4% | -284.7% | — | — | — |
| ROA | 52.5% | 52.5% | -17.6% | -42.5% | -43.4% | -39.9% | -71.7% | -67.6% | -62.3% | -49.1% | -51.4% |
| ROIC | 104.3% | 104.3% | -0.7% | -38.8% | -179.6% | — | — | — | — | — | — |
| ROCE | 105.2% | 105.2% | -0.7% | -25.6% | -32.0% | -49.8% | -112.0% | -124.1% | -104.2% | -82.7% | -101.7% |
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 | — | — | — | — | — | — | — | 2.21 | — | — | — |
| Debt / EBITDA | 1.28 | 1.28 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | — | — | -0.77 | — | — | — |
| Net Debt / EBITDA | 1.02 | 1.02 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 1.07 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 4.39 | 4.39 | 0.12 | -1.09 | -1.47 | -2.07 | -11.61 | -8.16 | -10.03 | -6.68 | -7.50 |
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 | 2.06 | 2.06 | 2.63 | 3.31 | 4.90 | 5.46 | 3.06 | 1.78 | 1.65 | 1.68 | 1.23 |
| Quick Ratio | 2.03 | 2.03 | 2.58 | 3.12 | 4.63 | 5.31 | 3.00 | 1.78 | 1.62 | 2.18 | 1.22 |
| Cash Ratio | 1.40 | 1.40 | 2.00 | 2.59 | 4.02 | 4.89 | 2.84 | 1.48 | 1.50 | 1.53 | 1.01 |
| Asset Turnover | — | 1.70 | 0.92 | 0.64 | 0.49 | 0.27 | 0.05 | 0.28 | 0.14 | 0.14 | 0.29 |
| Inventory Turnover | 3.53 | 3.53 | 1.54 | 0.16 | 0.24 | 0.46 | 0.24 | — | 0.29 | — | 5.40 |
| Days Sales Outstanding | — | 44.57 | 64.03 | 62.72 | 68.19 | 68.31 | 177.17 | 165.52 | 75.87 | 88.65 | 121.44 |
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 | 14.2% | 15.5% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 15.1% | 19.2% | — | — | — | — | — | — | — | — | — |
| 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 | — | $219M | $207M | $192M | $186M | $179M | $167M | $116M | $103M | $84M | $74M |
Includes 30+ ratios · 30 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 BCRX stock.
BioCryst Pharmaceuticals, Inc.'s current P/E ratio is 7.0x. The historical average is 6.4x. This places it at the 100th percentile of its historical range.
BioCryst Pharmaceuticals, Inc.'s current EV/EBITDA is 7.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 6.0x.
Based on historical data, BioCryst Pharmaceuticals, Inc. is trading at a P/E of 7.0x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
BioCryst Pharmaceuticals, Inc. has 97.8% gross margin and 39.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
BioCryst Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 1.3x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Single-asset dependency and cash constraints
Metrics are mathematically derived from official filings.
Operating Leverage Inflection Point
Operating margin expanded from -15.6% in Q1 2024 to 45.1% in Q2 2026, per reported financials, as revenue scaled 94% YoY while SG&A grew modestly, indicating strong operating leverage.
The gross margin consistently above 97% reflects the high pricing power of Orladeyo, but the Q1 2026 anomaly of -3.5% gross margin, likely due to a one-time inventory write-down, distorts the trend. The operating margin inflection from negative to 45.1% suggests that the fixed commercial infrastructure is now being leveraged effectively, though sustainability depends on R&D intensity and potential gross-to-net pressure.
Return on Capital Inflection
ROIC swung from -4.1% in Q1 2024 to 88.5% in Q4 2025, per SEC filings, driven by a one-time milestone, but Q2 2026 ROIC of 15.3% indicates a more sustainable level.
The dramatic ROIC spike in Q4 2025 is not sustainable as it includes non-recurring gains. The more recent 15.3% ROIC in Q2 2026, while still strong, reflects the underlying profitability of the scaled Orladeyo franchise. However, the negative equity base complicates the interpretation of ROE, which remains undefined, and investors should focus on ROIC as a more reliable measure of capital efficiency.
Working Capital Efficiency Improves
Cash conversion cycle turned negative to -77 days in Q2 2026, per reported figures, as DPO of 266 days far exceeds DSO of 46 days, indicating strong supplier leverage and efficient cash collection.
The negative CCC is a positive signal, showing that BioCryst is effectively using supplier financing to fund its operations. However, the extreme volatility in DIO and DPO across quarters, such as DIO of 2103 days in Q1 2024, suggests significant timing effects and potential inventory build-ups that warrant monitoring. The asset turnover of 0.43 in Q2 2026, while low, is typical for a biotech with high margins and minimal tangible assets.
Debt Service Comfort Improves
Interest coverage rose from 0.46 in Q3 2024 to 4.52 in Q2 2026, per financial statements, as EBITDA growth outpaced interest expense, though D/EBITDA of 4.14 remains elevated.
The improvement in interest coverage is a positive sign, indicating that operating earnings are now sufficient to cover interest obligations. However, the D/EBITDA ratio of 4.14, while down from over 100 in 2024, still suggests meaningful leverage. The negative equity base and cash balance of $155M against $409.9M debt imply that refinancing risk remains, especially if cash flow generation falters.
Liquidity Buffer Thin Relative to Debt
Current ratio improved to 2.32 in Q2 2026, per balance sheet data, but cash of $155M covers only 38% of total debt, indicating a tight liquidity position despite improving operations.
The current ratio suggests adequate short-term liquidity, but the quick ratio of 2.29 indicates minimal inventory dependence. However, the cash-to-debt coverage is low, and with negative equity, the company may face constraints in accessing additional debt or equity financing. The $89.7M cash runway mentioned in the context flags is even lower than the balance sheet cash, suggesting that the company may need to raise capital or generate significant cash flow to meet its obligations.
Misapplied P/E on Distorted Earnings
The P/E of 7.89 is misleading due to one-time items and non-cash charges, per reported figures; EV/EBITDA of 8.11 is a more reliable valuation metric for this capital-intensive biotech.
The low P/E is a result of GAAP net income being inflated by one-time milestones and depressed by non-cash charges like SBC and royalty financing interest. Investors should use EV/EBITDA, which at 8.11 is reasonable for a company with 94% revenue growth and strong margins. However, the single-asset dependency and potential for pipeline setbacks mean that even EV/EBITDA may overstate value if Orladeyo's growth decelerates or competition intensifies.