Latest Ratios: P/E Ratio -1.2x · EV/EBITDA N/A · ROE -450.6%. (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 | $28M | $24M | $19M | $208M | $339M | $936M | — | — |
| Enterprise Value | $26M | $21M | $12M | $211M | $340M | $921M | — | — |
| P/E Ratio → | -1.20 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | 10.74 | 9.40 | 2.52 | — | 87.40 | 44.93 | — | — |
| 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 | -450.6% | -450.6% | -5651.0% | — | -143.0% | -187.1% | -752.9% | -1874.8% |
| ROA | -150.0% | -150.0% | -180.4% | -316.0% | -103.1% | -144.5% | -129.8% | -218.6% |
| ROIC | -4363.8% | -4363.8% | — | -3482.9% | -264.3% | -403.7% | -239.9% | — |
| ROCE | -272.1% | -272.1% | -990.8% | — | -134.1% | -171.4% | -297.9% | -500.0% |
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 | 3.50 | 3.50 | 0.68 | — | 1.51 | 0.06 | 1.58 | 3.39 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.86 | -0.95 | — | 0.13 | -0.73 | 0.66 | 2.71 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -21.57 | -21.57 | — | — | -100.59 | -619.02 | -129.72 | — |
Net cash position: cash ($11M) exceeds total debt ($9M)
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 | 1.16 | 1.16 | 2.55 | 0.06 | 1.12 | 16.05 | 0.53 | 0.33 |
| Quick Ratio | 1.16 | 1.16 | 2.55 | 0.06 | 1.11 | 16.05 | 0.53 | 0.33 |
| Cash Ratio | 1.06 | 1.06 | 2.46 | 0.01 | 0.76 | 14.02 | 0.36 | 0.15 |
| 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 |
|---|---|---|---|---|---|---|---|---|
| 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 | — | $5M | $4M | $2M | $1M | $1M | $1M | $1M |
Clinical trial funding exhaustion
Based on reported figures, Cingulate's P/B ratio of 10.74 reflects a market valuation heavily skewed toward the potential success of the PTR platform rather than tangible assets, as the firm lacks the earnings multiples typical of established pharmaceutical peers like Amphastar Pharmaceuticals in the current market environment.
The absence of P/E and P/S multiples underscores that the company is currently priced as a speculative clinical-stage asset. Investors appear to be applying a binary probability discount, where the valuation is tethered to the remaining cash runway and the likelihood of FDA approval for CTx-1301 rather than fundamental operational performance.
As reported in recent financial statements, Cingulate's ROIC has remained deeply negative, reaching -16.0% in 2026Q1, which is consistent with a pre-revenue biotechnology firm that is currently consuming capital to fund clinical trials rather than generating returns on its invested capital base.
The persistent negative ROIC trend indicates that the company is in a value-destructive phase from a purely accounting perspective, which is expected for a firm without commercialized products. The primary driver of these returns is the heavy R&D expenditure, which will likely continue to suppress capital efficiency until a successful commercial launch or licensing agreement is achieved.
According to quarterly balance sheet data, the current ratio of 2.55 in 2026Q1 suggests a temporary liquidity cushion, yet this metric may be misleading given the company's high cash burn rate and the absence of recurring revenue to support ongoing operations through the regulatory approval process.
While the current ratio appears healthy compared to historical lows, it does not account for the rapid depletion of cash reserves required for Phase 3 clinical trial execution. The liquidity position warrants careful monitoring, as any delay in clinical milestones could necessitate further dilutive financing to maintain the company's status as a going concern.
Based on an analysis of the firm's financial structure, the current ratio is the most commonly misapplied metric for Cingulate, as it obscures the reality that the company's assets are largely tied to intangible clinical progress rather than liquid working capital available for operational sustainability.
Analysts should instead focus on the 'Time to Exhaustion' of cash reserves, as traditional liquidity ratios fail to capture the binary nature of clinical-stage biotech funding. Relying on the current ratio may lead to an overestimation of the company's financial stability in the absence of a clear path to commercial revenue.
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Quick answers to the most common questions about buying CING stock.
Cingulate Inc.'s current P/E ratio is -1.2x. This places it at the 50th percentile of its historical range.
Cingulate Inc.'s return on equity (ROE) is -450.6%. The historical average is -260.2%.
Based on historical data, Cingulate Inc. is trading at a P/E of -1.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.