Latest Ratios: P/E Ratio -25.8x · EV/EBITDA N/A · ROE -8.1%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.7B | $2.7B | $2.0B | $2.1B | $2.7B | $5.1B | $3.8B | — | — | — |
| Enterprise Value | $2.7B | $2.7B | $1.9B | $1.8B | $2.7B | $4.7B | $3.8B | — | — | — |
| P/E Ratio → | -25.82 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 18.53 | 19.62 | 32.14 | 5.56 | 44.95 | 98.73 | 158970.84 | — | — | — |
| P/B Ratio | 2.11 | 2.21 | 2.78 | 2.14 | 3.73 | 6.19 | 15.54 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | 121.56 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 19.61 | 30.24 | 4.86 | 44.07 | 90.77 | 156698.88 | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 84.0% | 84.0% | -478.7% | 100.0% | -411.5% | -347.8% | -429812.5% | -303338.9% | — | — |
| Operating Margin | -274.6% | -274.6% | -654.3% | -46.7% | -555.6% | -757.0% | -553166.7% | -417522.2% | — | — |
| Net Profit Margin | -57.2% | -57.2% | -593.1% | -35.1% | -474.5% | -714.9% | -810800.0% | -435144.4% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -8.1% | -8.1% | -43.9% | -15.5% | -37.1% | -69.1% | -112.3% | -66.7% | -177.5% | — |
| ROA | -6.2% | -6.2% | -29.4% | -9.5% | -20.5% | -38.5% | -64.0% | -48.5% | -136.1% | -363.4% |
| ROIC | -31.1% | -31.1% | -46.8% | -18.9% | -46.4% | -97.2% | -69.6% | -136.6% | — | — |
| ROCE | -33.3% | -33.3% | -38.2% | -14.9% | -28.5% | -48.7% | -55.7% | -56.0% | -66.6% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.22 | 0.18 | 0.24 | 0.18 | 0.44 | 0.31 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.00 | -0.16 | -0.27 | -0.07 | -0.50 | -0.22 | -0.06 | -1.09 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -0.83 | -0.83 | — | — | — | — | — | -401.89 | — | — |
Net cash position: cash ($295M) exceeds total debt ($294M)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 13.09 | 13.09 | 4.82 | 5.89 | 4.89 | 5.96 | 3.01 | 3.24 | 5.79 | 0.31 |
| Quick Ratio | 13.09 | 13.09 | 4.82 | 5.89 | 4.89 | 5.96 | 3.01 | 3.24 | 5.79 | 0.31 |
| Cash Ratio | 12.85 | 12.85 | 4.67 | 5.79 | 4.82 | 4.52 | 2.93 | 3.15 | 5.72 | 0.29 |
| Asset Turnover | — | 0.09 | 0.06 | 0.26 | 0.05 | 0.04 | 0.00 | 0.00 | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | 2112.11 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | 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% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $99M | $82M | $77M | $70M | $64M | $47M | $51M | $35M | $13M |
Includes 30+ ratios · 9 years · Updated daily
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Quick answers to the most common questions about buying BEAM stock.
Beam Therapeutics Inc.'s current P/E ratio is -25.8x. This places it at the 50th percentile of its historical range.
Beam Therapeutics Inc.'s return on equity (ROE) is -8.1%. The historical average is -66.3%.
Based on historical data, Beam Therapeutics Inc. is trading at a P/E of -25.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Beam Therapeutics Inc. has 84.0% gross margin and -274.6% operating margin.
Key Metrics
Top Statement Risk
Persistent cash burn dependence
Metrics are mathematically derived from official filings.
Premium Multiples Against Deeply Negative Earnings
Based on reported figures, BEAM trades at a price-to-sales multiple of 19.44 and a P/E of -32.60, a valuation that appears to price in future platform value rather than any current earnings power.
With no positive earnings, the P/E ratio is not meaningful as a standalone measure and the price-to-sales multiple of 19.44 becomes the more relevant anchor, though it rests on collaboration revenue that has been lumpy. Compared with peers such as CRISPR Therapeutics at a P/E of -7.74 and Intellia at -2.98, BEAM's multiples do not reflect a discount, suggesting the market is assigning a premium to its base-editing platform and multiplexing differentiation. Investors should monitor whether clinical readouts can justify this premium before the cash runway narrows further.
Licensing Margins Mask Operating Losses
As reported in quarterly income statements, BEAM's gross margin of 100% in 2026Q3 contrasts sharply with an operating margin of -460.3%, a gap that appears driven by near-zero direct costs on licensing income rather than durable pricing power.
The high gross margin reflects the accounting profile of collaboration revenue rather than any manufacturing or product economics, so it should not be read as evidence of earning power. Operating margin has been deeply negative across all ten quarters, indicating that R&D spending scales independently of revenue. Net margin is volatile due to non-operating items, which suggests operating margin is the more reliable indicator of underlying economics.
Negative Returns on a Shrinking Equity Base
According to reported quarterly figures, BEAM's ROIC of -10.2% and ROE of -13.3% in 2026Q3 indicate that capital is being consumed rather than compounded, with equity falling from roughly $1.2B to $952.7M during 2026.
Returns on capital have remained negative for most of the ten-quarter window, which suggests the platform investment has not yet produced returns relative to the capital deployed. The erosion of the equity base means that each future dollar of R&D must be funded either from existing cash or new issuance, both of which may dilute per-share economics. Investors should watch for any sustained move toward positive ROIC as an early signal that clinical programs are converting into value.
High Current Ratio Against Rapid Cash Consumption
Based on reported figures, BEAM's current ratio of 13.00 and quick ratio of 13.00 in 2026Q3 appear comfortable, yet quarterly free cash outflows near $112M may consume that cushion faster than the ratio implies.
The near-identical current and quick ratios reflect a balance sheet dominated by cash and investments with minimal inventory, so liquidity is not dependent on asset conversion. However, the ratio is a snapshot that does not capture the pace of burn, and the reported cash balance of $213.3M implies only a limited number of quarters at recent outflow rates. This suggests that the company may need to raise capital or secure additional collaboration payments, and investors should treat the headline liquidity ratio with caution.
Ratio Most Misapplied: Price-to-Sales
The price-to-sales multiple of 19.44 is the ratio most commonly misapplied to BEAM, since its revenue is lumpy milestone income and may overstate recurring commercial economics that do not yet exist.
Price-to-sales is typically used for companies with stable recurring revenue, but BEAM's trailing revenue of $139.7M reflects irregular collaboration recognition, with quarterly revenue swinging from $31.7M to $307K within a single year. A more appropriate lens would be cash burn relative to enterprise value or runway in quarters, which better captures how long the platform can be funded. Stock-based compensation of roughly $19M to $30M per quarter also flatters operating cash flow, so adjusting for it would present a more conservative view of the true cost structure.