Latest Ratios: P/E Ratio -1.3x · EV/EBITDA N/A · ROE -111.4%. (2007–2025 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 | $10M | $11M | $21M | $17M | $16M | $60M | $78M | $18M | $101M | $145M | $276M |
| Enterprise Value | $5M | $6M | $12M | $-7900280 | $-20968150 | $2M | $46M | $12M | $98M | $145M | $272M |
| P/E Ratio → | -1.31 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | 38.87 | 2.79 | — | — | — |
| P/B Ratio | 1.82 | 1.75 | 2.16 | 0.63 | 0.40 | 0.77 | 1.49 | 0.71 | 1.51 | 1.37 | 2.69 |
| 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 | — | — | — | — | — | — | 22.77 | 1.79 | — | — | — |
| 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 | — | — | — | — | — | — | -199.6% | 39.0% | — | — | — |
| Operating Margin | — | — | — | — | — | — | -476.0% | -737.4% | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | -479.0% | -733.8% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -111.4% | -111.4% | -97.5% | -54.5% | -66.3% | -21.8% | -24.7% | -104.0% | -56.9% | -0.6% | -55.5% |
| ROA | -76.2% | -76.2% | -78.3% | -49.9% | -64.6% | -21.2% | -23.3% | -99.2% | -51.6% | -0.5% | -42.9% |
| ROIC | -593.4% | -593.4% | -799.8% | -604.7% | -263.6% | -54.0% | -36.7% | -86.8% | -55.5% | -6.1% | -61.8% |
| ROCE | -97.3% | -97.3% | -91.6% | -54.9% | -66.1% | -21.8% | -24.2% | -103.8% | -67.3% | -6.8% | -62.2% |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.24 | 0.24 | 0.19 | 0.07 | 0.01 | 0.01 | 0.01 | 0.03 | 0.00 | 0.01 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.87 | -0.85 | -0.93 | -0.93 | -0.75 | -0.62 | -0.26 | -0.04 | 0.00 | -0.04 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -9068.50 | -3555.25 | -1198.25 | -121.21 | — | — | — |
Net cash position: cash ($7M) exceeds total debt ($2M)
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 | 3.68 | 3.68 | 4.77 | 8.92 | 33.04 | 38.40 | 25.05 | 3.62 | 1.89 | 1.55 | 2.68 |
| Quick Ratio | 3.68 | 3.68 | 4.77 | 8.92 | 33.04 | 38.40 | 25.05 | 3.62 | 1.89 | 1.53 | 2.68 |
| Cash Ratio | 3.18 | 3.18 | 4.06 | 8.08 | 30.55 | 38.00 | 24.31 | 3.24 | 1.75 | 0.53 | 1.79 |
| Asset Turnover | — | — | — | — | — | — | 0.04 | 0.23 | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | 3.48 | — |
| Days Sales Outstanding | — | — | — | — | — | — | 100.76 | 35.81 | — | — | — |
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% | 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 | — | $11M | $10M | $10M | $8M | $8M | $5M | $3M | $2M | $2M | $2M |
Imminent liquidity shortfall
Based on reported figures, Cocrystal Pharma trades at a price-to-book ratio of 1.82, which suggests the market is pricing the entity as a distressed asset rather than a growth-oriented biotechnology platform, reflecting significant skepticism regarding the long-term viability of its current clinical pipeline and partnership-dependent revenue model.
The lack of meaningful P/E or P/S multiples underscores the company's pre-revenue status and the market's focus on liquidation value over earnings potential. Investors should monitor whether this valuation floor holds as cash reserves continue to deplete, as the current multiple may not fully account for the potential dilution required to fund future clinical trials.
As reported in financial statements, Cocrystal Pharma's ROIC has consistently remained in negative territory, with a recent reading of -2.1% in 2026Q1, indicating that the company is currently destroying shareholder capital rather than compounding it through its proprietary structure-based drug discovery platform.
The persistent negative returns on invested capital highlight the structural challenge of maintaining high-cost R&D operations without a commercialized product to offset expenditures. This trend suggests that the company's current strategy is not yet generating the operational efficiency required to justify its ongoing capital intensity.
According to recent quarterly filings, the company's current ratio has compressed from 10.30 in 2024Q1 to 2.66 in 2026Q1, signaling a rapid deterioration in the firm's ability to cover short-term obligations as cash reserves are exhausted by ongoing clinical development and laboratory overhead.
While a current ratio of 2.66 may appear adequate in isolation, the rapid downward trajectory warrants caution, as it reflects a shrinking asset base that is not being replenished by operational cash inflows. This liquidity profile suggests that the company may face significant pressure to secure external financing within the next few quarters to maintain operational continuity.
Based on historical data, Cocrystal Pharma exhibits extreme volatility in its cash conversion cycle, with DPO figures fluctuating wildly between 19 and 3944 days, which suggests that management is likely managing cash outflows through delayed payments rather than through sustainable improvements in operational or supply chain efficiency.
The erratic nature of these efficiency metrics implies that the company lacks a stable working capital cycle, which is typical for a clinical-stage entity but complicates the assessment of its underlying operational health. Investors should view these fluctuations as a symptom of cash management necessity rather than a reflection of core business process optimization.
As evidenced by the company's financial history, the price-to-book ratio is the most commonly misapplied metric for Cocrystal Pharma, as it obscures the fact that the firm's most valuable assets—its proprietary structural biology platform and intellectual property—are largely intangible and not captured on the balance sheet.
Relying on P/B for a pre-revenue biotech company like Cocrystal is misleading because it treats the company as a tangible asset business, ignoring the high-risk, high-reward nature of its clinical pipeline. A more appropriate analytical framework would involve assessing the replacement cost of the platform or the probability-weighted net present value of its clinical assets.
Includes 30+ ratios · 19 years · Updated daily
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Quick answers to the most common questions about buying COCP stock.
Cocrystal Pharma, Inc.'s current P/E ratio is -1.3x. This places it at the 50th percentile of its historical range.
Cocrystal Pharma, Inc.'s return on equity (ROE) is -111.4%. The historical average is -61.2%.
Based on historical data, Cocrystal Pharma, Inc. is trading at a P/E of -1.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.