Latest Ratios: P/E Ratio -3.5x · EV/EBITDA N/A · ROE -88.6%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $82M | $98M | $28M | $56M | $61M | $140M | — | — |
| Enterprise Value | $46M | $62M | $4M | $27M | $21M | $86M | — | — |
| P/E Ratio → | -3.50 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.38 | 2.87 | 1.49 | 2.27 | 1.51 | 2.74 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -88.6% | -88.6% | -157.2% | -79.7% | 1.7% | -22.9% | — | — |
| ROA | -59.7% | -59.7% | -103.9% | -60.3% | 1.4% | -35.4% | -138.2% | -93.2% |
| ROIC | — | — | — | — | -19795.9% | — | — | — |
| ROCE | -178.5% | -178.5% | -244.8% | -150.0% | -92.8% | -103.7% | -455.4% | -472.2% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.04 | 0.05 | 0.04 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.06 | -1.29 | -1.17 | -1.00 | -1.07 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -1805.69 | -1805.69 | -1357.84 | — | -763.18 | -12.12 | -3.48 | -3.73 |
Net cash position: cash ($37M) exceeds total debt ($638000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.45 | 3.45 | 2.65 | 3.37 | 6.11 | 7.50 | 2.13 | 1.94 |
| Quick Ratio | 3.45 | 3.45 | 2.65 | 3.37 | 6.11 | 7.50 | 2.13 | 1.91 |
| Cash Ratio | 2.64 | 2.64 | 2.24 | 2.94 | 5.33 | 6.96 | 1.60 | 0.78 |
| Asset Turnover | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | 0.69 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $73M | $40M | $30M | $29M | $22M | $22M | $22M |
Clinical trial funding dependency
As reported in financial statements, CGTX trades at a price-to-book ratio of 2.38, a valuation level that appears to reflect significant market skepticism regarding the company's ability to successfully navigate the high-risk clinical development landscape compared to more established peers in the neurodegeneration space.
The current P/B multiple suggests that investors are assigning a modest premium to the company's tangible assets, likely ignoring the potential value of the underlying intellectual property. This valuation gap warrants further investigation, as it may indicate that the market is heavily discounting the probability of success for the CT1812 platform.
Based on recent SEC filings, the company's current ratio has fluctuated significantly, reaching 5.92 in 2026Q1, yet this metric appears misleading as it masks the rapid depletion of cash reserves required to fund ongoing Phase II clinical trials without any offsetting commercial revenue streams.
While the high current ratio suggests short-term solvency, the underlying trend of cash burn indicates that the company's liquidity position is highly sensitive to the timing of grant disbursements. Investors should monitor the cash runway closely, as the current liquidity profile may necessitate dilutive financing if trial milestones are delayed.
According to reported figures, CGTX maintains a very low debt-to-equity ratio of 0.01 as of 2026Q1, which suggests that the company has avoided traditional debt financing in favor of equity-based capital, thereby limiting interest coverage concerns while simultaneously increasing the dilution risk for existing shareholders.
The lack of significant leverage is typical for a pre-revenue biotech firm, yet it implies that the company lacks the financial flexibility to utilize debt to bridge funding gaps. This reliance on equity markets makes the company's capital structure highly vulnerable to sector-wide sentiment shifts and regulatory outcomes.
As indicated by the company's financial history, the use of P/E ratios to evaluate CGTX is fundamentally flawed, as the firm's negative earnings are a structural feature of its clinical-stage development model rather than an indicator of poor operational efficiency or long-term business viability.
Investors should instead focus on the ratio of grant funding to total R&D expenditure to assess the company's ability to manage its burn rate. Relying on traditional profitability metrics obscures the value of the pipeline and fails to capture the strategic importance of non-dilutive federal research support.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying CGTX stock.
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Cognition Therapeutics, Inc.'s return on equity (ROE) is -88.6%. The historical average is -69.3%.
Based on historical data, Cognition Therapeutics, Inc. is trading at a P/E of -3.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.