Latest Ratios: P/E Ratio -21.2x · EV/EBITDA N/A · ROE -163.8%. (2015–2025 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 | $3.9B | $5.2B | $516M | $345M | $216M | $177M | $94M | $109M | $243M | $141M | — |
| Enterprise Value | $3.9B | $5.3B | $592M | $352M | $227M | $107M | $83M | $90M | $227M | $139M | — |
| P/E Ratio → | -21.16 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 41.79 | 52.11 | 4.47 | 2.47 | 1.61 | 2.57 | 8.04 | 5.64 | 9.58 | 4.50 | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -163.8% | -163.8% | -87.5% | -46.6% | -39.9% | -73.6% | -61.1% | -33.0% | -26.4% | -33.8% | -62.3% |
| ROA | -49.8% | -49.8% | -51.2% | -34.8% | -30.9% | -59.9% | -57.0% | -31.8% | -25.8% | -32.9% | -58.3% |
| ROIC | -80.4% | -80.4% | -50.3% | -34.1% | -41.1% | — | -1251.3% | -114.2% | -31.2% | -31.3% | — |
| ROCE | -54.2% | -54.2% | -58.0% | -38.3% | -31.2% | -59.6% | -61.4% | -34.9% | -28.0% | -32.2% | -62.6% |
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.94 | 1.94 | 0.85 | 0.27 | 0.26 | 0.22 | 0.02 | 0.01 | 0.00 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.30 | 0.65 | 0.05 | 0.08 | -1.01 | -0.97 | -0.96 | -0.63 | -0.08 | -1.04 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -9.32 | -9.32 | -9.87 | -10.97 | -18.17 | -22.45 | -79634.70 | -49089.94 | -67393.73 | -13.18 | — |
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 | 10.55 | 10.55 | 7.71 | 13.43 | 25.45 | 34.06 | 10.26 | 21.12 | 38.07 | 42.36 | 13.27 |
| Quick Ratio | 10.55 | 10.55 | 7.71 | 13.43 | 25.45 | 34.06 | 10.26 | 21.12 | 38.07 | 42.36 | 13.27 |
| Cash Ratio | 10.00 | 10.00 | 7.41 | 12.73 | 24.50 | 33.64 | 9.84 | 20.58 | 37.59 | 41.86 | 13.15 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — | — | — |
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% | 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% | — |
| Shares Outstanding | — | $53M | $39M | $24M | $15M | $13M | $10M | $10M | $10M | $7M | $7M |
Includes 30+ ratios · 11 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 CELC stock.
Celcuity Inc.'s current P/E ratio is -21.2x. This places it at the 50th percentile of its historical range.
Celcuity Inc.'s return on equity (ROE) is -163.8%. The historical average is -61.2%.
Based on historical data, Celcuity Inc. is trading at a P/E of -21.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
High leverage and dilution risk
Metrics are mathematically derived from official filings.
Pre-Revenue Losses Deepen Ahead of Launch
According to the latest quarterly report, Celcuity's operating margin deteriorated to -703.4% in 2026Q2, reflecting escalating R&D and SG&A costs with negligible revenue, underscoring the pre-commercial cost structure.
The gross margin of 50.0% in 2026Q2 is likely a one-off from minimal service revenue, not indicative of future profitability. Operating losses have widened from -$22.5M in 2024Q1 to -$66.1M in 2026Q2, as reported in financial statements, with no revenue to absorb fixed costs. This suggests that the company's true earning power remains unproven, and investors should monitor the trajectory of operating leverage post-commercial launch.
Negative Returns Reflect Heavy Investment Phase
Based on reported figures, ROIC has remained deeply negative, ranging from -9.5% in 2024Q2 to -32.4% in 2026Q1, with ROE at -163.8% in 2026Q2, indicating capital is being consumed rather than compounded.
The negative returns are driven by escalating operating losses and a growing capital base, with equity turning negative at -$12.8M in 2026Q2. This suggests the company is in a heavy investment phase, and returns will only inflect if gedatolisib achieves commercial success. The deterioration in ROE from -15.3% in 2024Q2 to -163.8% in 2026Q2 reflects both widening losses and the impact of leverage, as debt-financed operations amplify the negative return on equity.
Asset-Light Model Shows Minimal Tangible Efficiency
As disclosed in financial statements, asset turnover is effectively zero at 0.00 in 2026Q2, with minimal PPE and negligible revenue, indicating that efficiency metrics are not yet meaningful for this pre-revenue biotech.
The company's asset-light model, with PPE of only $1.7M, means that traditional efficiency ratios like asset turnover provide little insight. The cash conversion cycle is not calculable due to lack of revenue, but the DPO of 17,955 days in 2026Q2 suggests extended payment terms, likely reflecting accruals and timing. Investors should focus on cash burn per quarter as the key efficiency metric, which has accelerated to -$55.5M in FCF in 2026Q2.
Leverage Surge Post-Approval Raises Solvency Concerns
According to the latest balance sheet, total debt jumped to $754.4M in 2026Q2, with debt-to-equity at 1.94, while equity turned negative at -$12.8M, indicating a strained balance sheet and potential refinancing risk.
The debt-to-equity ratio spiked from 0.28 in 2024Q1 to 3.65 in 2026Q1, before settling at 1.94 in 2026Q2, reflecting aggressive debt financing ahead of the commercial launch. Interest coverage is deeply negative at -3.76 in 2026Q2, as operating losses far exceed interest expense, suggesting that debt service is not yet comfortable. This leverage appears to be a strategic but risky bet on the success of gedatolisib, and investors should monitor the company's ability to service this debt as cash burn continues.
Liquidity Masked by Debt and Negative Equity
Based on reported figures, the current ratio stands at 8.93 in 2026Q2, but with cash of $182.0M offset by $754.4M in total debt, liquidity appears adequate only in the short term.
The high current ratio is driven by a large cash balance, but the negative equity and substantial debt raise questions about long-term solvency. The quick ratio equals the current ratio at 8.93, indicating no inventory dependence, which is typical for a biotech. However, the company's cash runway of approximately $165.7M, as reported, may be insufficient if the commercial launch requires additional capital, and the company may need to raise funds through dilutive equity or further debt.
Misapplied P/E Ratio Obscures Pre-Revenue Reality
The P/E ratio of -22.91 is often misapplied to Celcuity, as it implies a comparison to profitable companies, but the company is pre-revenue and losses are expected to continue, making the metric meaningless.
For a clinical-stage biotech, the P/E ratio is not a valid valuation tool because earnings are negative and not representative of future profitability. Instead, investors should focus on metrics like EV/EBITDA (which is not available) or, more appropriately, the company's cash runway and the potential peak sales of gedatolisib. The market's valuation of $45.25 P/B reflects the intangible value of the CELsignia platform and the approved drug, but this is better assessed through a risk-adjusted net present value (NPV) analysis of future cash flows, rather than traditional earnings multiples.