Latest Ratios: P/E Ratio -10.6x · EV/EBITDA N/A · ROE -30.2%. (2014–2025 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 | $4.8B | $4.7B | $3.3B | $5.0B | $3.2B | $6.1B | $10.1B | $3.5B | $1.4B | $941M | $248M |
| Enterprise Value | $4.9B | $4.8B | $3.2B | $4.8B | $3.2B | $5.4B | $9.0B | $2.6B | $914M | $701M | $-67183394 |
| P/E Ratio → | -10.62 | — | — | — | — | 16.12 | — | 52.06 | — | — | — |
| P/S Ratio | 191.85 | 1343.50 | 94.87 | 13.40 | 7248.62 | 6.67 | 14043.89 | 11.97 | 438.65 | 22.94 | 48.09 |
| P/B Ratio | 2.34 | 2.45 | 1.72 | 2.63 | 1.69 | 2.54 | 6.07 | 3.69 | 3.49 | 5.01 | 1.07 |
| P/FCF | — | — | — | — | — | 13.32 | — | 69.36 | — | — | — |
| P/OCF | — | — | — | — | — | 11.30 | — | 61.18 | — | — | — |
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 | — | 1354.81 | 92.74 | 13.00 | 7322.33 | 5.91 | 12503.98 | 8.90 | 292.48 | 17.09 | -13.01 |
| EV / EBITDA | — | — | — | — | — | 13.78 | — | 50.06 | — | — | — |
| EV / EBIT | — | — | — | — | — | 14.21 | — | 55.12 | — | — | — |
| EV / FCF | — | — | — | — | — | 11.80 | — | 51.53 | — | — | — |
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 | -6537.0% | -6537.0% | -215.0% | 64.8% | -25186.7% | 88.9% | -37369.7% | 38.1% | -3541.9% | -70.3% | -717.9% |
| Operating Margin | -16191.4% | -16191.4% | -1333.0% | -60.1% | -154394.7% | 40.9% | -49295.5% | 16.1% | -5087.8% | -157.7% | -1319.3% |
| Net Profit Margin | -16569.8% | -16569.8% | -1046.4% | -41.5% | -149122.7% | 41.4% | -48520.9% | 23.1% | -5281.1% | -166.7% | -449.3% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -30.2% | -30.2% | -19.2% | -8.2% | -30.4% | 18.6% | -26.8% | 10.0% | -56.9% | -32.5% | -22.8% |
| ROA | -25.8% | -25.8% | -16.4% | -6.9% | -26.0% | 16.5% | -24.1% | 8.6% | -43.4% | -22.2% | -9.2% |
| ROIC | -22.3% | -22.3% | -19.5% | -9.2% | -28.0% | 24.8% | -87.8% | 72.7% | — | — | — |
| ROCE | -26.6% | -26.6% | -21.8% | -10.5% | -28.3% | 17.1% | -25.8% | 6.4% | -44.3% | -22.3% | -28.9% |
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 | 0.21 | 0.21 | 0.12 | 0.13 | 0.13 | 0.09 | 0.04 | 0.06 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | 0.57 | — | 1.02 | — | — | — |
| Net Debt / Equity | — | 0.02 | -0.04 | -0.08 | 0.02 | -0.29 | -0.67 | -0.95 | -1.16 | -1.28 | -1.36 |
| Net Debt / EBITDA | — | — | — | — | — | -1.78 | — | -17.32 | — | — | — |
| Debt / FCF | — | — | — | — | — | -1.53 | — | -17.83 | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | -1.82 |
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 | 13.32 | 13.32 | 22.07 | 17.54 | 15.30 | 20.17 | 18.21 | 17.29 | 16.81 | 17.12 | 14.56 |
| Quick Ratio | 13.32 | 13.32 | 22.07 | 17.54 | 15.30 | 20.17 | 18.21 | 17.29 | 16.81 | 17.12 | 14.56 |
| Cash Ratio | 13.30 | 13.30 | 21.69 | 15.57 | 14.99 | 19.85 | 17.93 | 16.53 | 16.46 | 16.52 | 14.34 |
| Asset Turnover | — | 0.00 | 0.02 | 0.17 | 0.00 | 0.33 | 0.00 | 0.27 | 0.01 | 0.15 | 0.01 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 260.71 | 197.30 | — | 0.12 | 5504.95 | 0.12 | 10.28 | 23.38 | 223.14 |
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 | — | — | — | — | — | 6.2% | — | 1.9% | — | — | — |
| FCF Yield | — | — | — | — | — | 7.5% | — | 1.4% | — | — | — |
| 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 | — | $90M | $84M | $79M | $78M | $80M | $66M | $57M | $48M | $40M | $12M |
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying CRSP stock.
CRISPR Therapeutics AG's current P/E ratio is -10.6x. The historical average is 34.1x.
CRISPR Therapeutics AG's return on equity (ROE) is -30.2%. The historical average is -19.8%.
Based on historical data, CRISPR Therapeutics AG is trading at a P/E of -10.6x. Compare with industry peers and growth rates for a complete picture.
CRISPR Therapeutics AG has -6537.0% gross margin and -16191.4% operating margin.
Key Metrics
Top Statement Risk
Revenue collapse and cash burn
Metrics are mathematically derived from official filings.
Margins in Freefall Post-Approval
According to the latest quarterly data, CRSP's gross margin plunged to -6,537% TTM, with operating margin at -16,191%, reflecting fixed costs far exceeding the $3.5M revenue base.
The extreme negative margins indicate that the company's cost structure is built for a commercial scale that has not materialized, with R&D and manufacturing expenses running ahead of product sales. The 2024Q4 quarter, which showed a positive gross margin of 100%, appears to have been an anomaly driven by milestone revenue, not sustainable operations. Investors should monitor whether the Vertex profit-share model can eventually convert these fixed costs into variable, scalable margins, but current data suggests no operating leverage.
Capital Efficiency Deteriorating
ROIC has worsened from -2.6% in 2024Q4 to -3.9% in 2026Q2, while ROE fell to -5.1%, indicating that the company is not generating returns on its invested capital, per reported figures.
The negative and relatively stable ROIC over the past ten quarters suggests that the company is in a sustained investment phase, with capital being consumed by R&D and commercial infrastructure without corresponding returns. The slight improvement in ROIC from -6.8% in 2024Q2 to -3.9% in 2026Q2 is misleading, as it is driven by a shrinking asset base rather than operational improvement. The company's ability to compound returns will depend on the successful commercialization of CASGEVY and the advancement of allogeneic programs, but current trends indicate capital is being deployed without measurable return.
Working Capital Efficiency Masked
Asset turnover is effectively zero at 0.00, and DPO has risen to 25 days in 2026Q2, suggesting the company is stretching payables, but the lack of revenue makes efficiency metrics largely uninformative, as per financial statements.
The near-zero asset turnover reflects the minimal revenue base relative to the $2.7B asset base, indicating that the company's assets are not yet generating sales. The increase in DPO from 15 days in 2025Q3 to 25 days in 2026Q2 may indicate a deliberate effort to conserve cash, but it is a minor factor given the scale of operating losses. The cash conversion cycle is not calculable due to missing DSO and DIO data, but the company's working capital swings, as noted in the cash flow analysis, suggest that efficiency metrics are volatile and not yet meaningful for this development-stage biotech.
Debt-Funded Cash Burn
D/E has risen from 0.11 in 2024Q1 to 0.45 in 2026Q2, while total debt reached $784M against $291M cash, indicating that reported leverage understates financial risk, based on balance sheet data.
The increase in leverage is notable, as the company has historically maintained a lean balance sheet. The debt-to-cash ratio of 2.7 suggests that the company is increasingly reliant on borrowed funds to finance its operations, which may indicate a strategic shift or a response to equity market conditions. Interest coverage is not available, but given the negative operating income, the company is likely not generating sufficient earnings to cover interest expenses, raising concerns about refinancing risk if capital markets tighten. Investors should monitor the company's ability to service this debt as cash burn continues.
Liquidity Buffer Thinning
The current ratio remains high at 17.85 in 2026Q2, but cash has fallen from $707M in 2024Q1 to $291M, implying a shrinking runway, as per reported balance sheets.
The high current ratio is primarily driven by the large cash and marketable securities balance, but the rapid depletion of cash suggests that the liquidity position is deteriorating. With quarterly operating cash outflows averaging around $150M, the current cash balance may only fund operations for a few quarters, unless the company raises additional capital. The company's ability to withstand a severe stress scenario, such as a prolonged downturn in biotech funding, appears limited, and the reliance on debt and equity markets is likely to increase.
Misapplied P/S Multiple
The P/S ratio of 1,470x is often cited as a valuation metric, but it is meaningless for a company with $3.5M TTM revenue, obscuring the true value of the pipeline and cash position.
For a pre-profit biotech, price-to-sales is a misleading metric because revenue is not representative of the company's earning power or intrinsic value. The market's valuation of CRSP is more appropriately based on the net present value of its pipeline, particularly the CASGEVY profit-share with Vertex and the allogeneic CAR-T programs. Investors should instead focus on metrics like EV/Invested Capital or a risk-adjusted NPV analysis, which better capture the value of the company's assets and future cash flows. The extreme P/S ratio highlights the market's expectation of future growth, but it does not provide a meaningful basis for comparison with peers.