Latest Ratios: P/E Ratio -0.5x · EV/EBITDA N/A · ROE -260.1%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $8M | $14M | $18M | $10M | — |
| Enterprise Value | $4M | $10M | $8M | $1M | — |
| P/E Ratio → | -0.46 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 2.22 | 4.94 | 2.38 | 1.25 | — |
| 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 |
|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — |
| Operating Margin | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -260.1% | -260.1% | -140.8% | -780.6% | — |
| ROA | -183.2% | -183.2% | -114.3% | -179.8% | -862.8% |
| ROIC | — | — | — | — | — |
| ROCE | -264.5% | -264.5% | -144.9% | -213.9% | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 0.00 | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -1.46 | -1.35 | -1.09 | — |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | -487.69 | -61.69 |
Net cash position: cash ($4M) exceeds total debt ($0)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 2.72 | 2.72 | 3.77 | 10.27 | 0.55 |
| Quick Ratio | 2.72 | 2.72 | 3.77 | 10.27 | 0.55 |
| Cash Ratio | 2.52 | 2.52 | 3.73 | 10.16 | 0.02 |
| 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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 3.8% | 2.2% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 3.8% | 2.2% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $2M | $1M | $868183 | $775638 |
Binary clinical trial dependency
As reported in recent financial filings, CVKD trades at a price-to-book ratio of 2.22, a valuation metric that appears disconnected from the company's underlying fundamental reality given the absence of revenue and the rapid depletion of its cash reserves over the last ten quarters.
The current P/B multiple suggests that investors are assigning value to the intangible potential of Tecarfarin rather than any tangible asset base. This valuation is highly sensitive to clinical milestones, and the lack of a forward P/E or EV/EBITDA ratio underscores the speculative nature of the equity, which functions more like a long-dated call option than a traditional operating business.
Based on the company's reported figures, the current ratio has deteriorated from 10.27 in 2023Q4 to 2.68 in 2026Q1, signaling a significant contraction in the firm's ability to cover short-term obligations as clinical trial expenditures continue to accelerate without any offsetting commercial revenue.
The decline in the current ratio reflects the aggressive consumption of cash to fund R&D and regulatory compliance. Investors should monitor this trend closely, as the current liquidity position may necessitate dilutive capital raises to maintain operations, potentially impairing shareholder value in the near term.
According to recent financial statements, CVKD's return on equity has plummeted to -110.1% in 2026Q1, a stark decline from -13.9% in 2023Q4, which highlights the compounding impact of persistent net losses on a shrinking equity base as the company advances its lead candidate.
The extreme negative ROE is a direct consequence of the company's pre-revenue status and the high fixed costs associated with clinical development. This trend indicates that capital is being deployed into high-risk R&D activities that have yet to generate any return, making the company entirely dependent on external financing to sustain its operations.
As indicated by the company's financial data, the use of P/E or EV/EBITDA ratios is fundamentally inappropriate for CVKD, as these metrics obscure the company's true economic reality by ignoring the binary nature of its clinical-stage asset and the lack of recurring revenue.
Analysts often misapply these multiples to biotech firms, which leads to a misunderstanding of the company's risk profile. Instead of earnings-based metrics, investors should focus on the 'cash runway' and the 'net cash burn rate' to assess the company's ability to reach critical clinical milestones before requiring additional capital.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying CVKD stock.
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