Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -176.3%. (1996–2025 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 | $7M | $37M | $76M | $67M | $160M | $537M | $562M | $366M | $3M | $524035 | $51M |
| Enterprise Value | $6M | $36M | $83M | $76M | $153M | $517M | $561M | $371M | $6M | $12M | $61M |
| P/E Ratio → | -0.17 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | 1006.70 | 789.96 | 5.78 | 7.59 | 180.25 |
| P/B Ratio | 0.27 | 2.34 | 5.90 | 5.05 | 4.97 | 9.49 | 28.51 | 71.21 | 3007.36 | — | — |
| 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 | — | — | — | — | — | — | 1003.89 | 800.90 | 12.22 | 179.09 | 215.66 |
| 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 | — | — | — | — | — | — | 96.8% | 97.3% | 97.7% | -817.1% | 93.9% |
| Operating Margin | — | — | — | — | — | — | -5188.3% | -4364.1% | -3519.5% | -30916.1% | -8964.3% |
| Net Profit Margin | — | — | — | — | — | — | -5767.9% | -5336.0% | -6680.7% | -20810.3% | -4022.6% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -176.3% | -176.3% | -206.4% | -142.6% | -86.3% | -102.8% | -259.2% | -961.8% | -3475677.4% | — | — |
| ROA | -92.2% | -92.2% | -93.6% | -79.9% | -60.6% | -67.3% | -94.6% | -86.3% | -121.3% | -83.2% | -84.8% |
| ROIC | -109.0% | -109.0% | -93.2% | -99.5% | -88.3% | -99.4% | -153.3% | -228.3% | -217.4% | -181.5% | -317.4% |
| ROCE | -109.3% | -109.3% | -111.4% | -88.9% | -61.2% | -66.9% | -95.2% | -89.8% | -103.4% | -217.0% | -315.8% |
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 | 0.59 | 0.59 | 0.90 | 1.03 | 0.48 | 0.28 | 0.71 | 2.63 | 14606.95 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | 0.53 | 0.71 | -0.23 | -0.36 | -0.08 | 0.99 | 3351.44 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -38.16 | -38.16 | -35.10 | -46.67 | -32.95 | -30.64 | -28.05 | -11.31 | — | -5.31 | — |
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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.26 | 2.26 | 1.31 | 1.24 | 5.45 | 11.50 | 4.15 | 3.25 | 1.24 | 0.39 | 1.47 |
| Quick Ratio | 2.20 | 2.20 | 1.09 | 0.84 | 5.02 | 10.99 | 3.96 | 2.99 | 1.17 | 0.33 | 1.22 |
| Cash Ratio | 2.13 | 2.13 | 1.03 | 0.74 | 4.86 | 10.72 | 3.64 | 2.80 | 1.12 | 0.22 | 0.73 |
| Asset Turnover | — | — | — | — | — | — | 0.01 | 0.02 | 0.02 | 0.00 | 0.02 |
| Inventory Turnover | — | — | 3.89 | 1.76 | 1.94 | 0.25 | 0.02 | 0.02 | 0.02 | 0.94 | 0.02 |
| Days Sales Outstanding | — | — | — | — | — | — | 35.88 | 49.51 | 90.88 | 1155.40 | 505.16 |
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 | — | $4M | $2M | $1M | $1M | $1M | $1M | $1M | $18894 | $8769 | $184165 |
Binary regulatory approval failure
As reported in financial statements, CVM's ROIC has remained consistently negative, fluctuating between -21.5% and -30.6% over the last ten quarters, which indicates that the company is failing to generate any productive return on the capital deployed into its clinical development and manufacturing infrastructure.
The persistent negative ROIC reflects a business model that consumes capital to sustain research rather than generating returns through operational efficiency. Investors should note that without a commercial product to drive revenue, these returns will likely remain deeply negative, suggesting that the company is currently destroying shareholder value rather than compounding it.
Based on recent SEC filings, the company's cash conversion cycle remains highly volatile, with inventory days reaching as high as 233 days in 2024Q3, highlighting significant challenges in managing the specialized manufacturing process for its lead candidate, Multikine, in the absence of commercial sales.
The extended and fluctuating inventory days suggest that the company is struggling to optimize its manufacturing throughput, which is a critical concern for a firm with limited cash reserves. This inefficiency appears to be a structural byproduct of maintaining a dedicated facility for a product that has yet to achieve regulatory approval or consistent market demand.
According to quarterly data, the debt-to-equity ratio has climbed to 1.24 as of 2026Q2, a significant increase from earlier periods, which suggests that the company is increasingly relying on debt-like instruments to bridge the gap left by its persistent operating losses and lack of commercial revenue.
The rising leverage ratio, coupled with a negative interest coverage ratio, indicates that the company's ability to service its obligations is becoming increasingly strained. This trend warrants close monitoring, as the lack of recurring cash flow makes the company highly vulnerable to any tightening in credit conditions or further dilution of equity.
As indicated by the current ratio of 0.60 in 2026Q2, the company's liquidity position has deteriorated significantly, falling well below the threshold of 1.0, which implies that current assets are insufficient to cover short-term liabilities without immediate access to additional external financing.
The rapid decline in the quick ratio from 2.20 in 2025Q4 to 0.54 in 2026Q2 underscores a severe liquidity crunch that threatens the company's ability to maintain its ongoing clinical operations. This suggests that the firm is in a state of constant capital dependency, leaving it with little margin for error in its regulatory or manufacturing timelines.
The P/B ratio of 0.28 is frequently misapplied to CVM, as it obscures the reality that the company's book value is largely comprised of specialized manufacturing assets that may face total impairment if the lead candidate fails to secure regulatory approval from the FDA.
Investors should avoid using P/B as a floor for valuation, as the asset base is not representative of liquidation value in a biotech context. Instead, analysts should focus on the cash burn rate and the probability-weighted net present value of the clinical pipeline, as these metrics provide a more accurate assessment of the company's true economic viability.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying CVM stock.
CEL-SCI Corporation's current P/E ratio is -0.2x. The historical average is 14.8x.
CEL-SCI Corporation's return on equity (ROE) is -176.3%. The historical average is -146.8%.
Based on historical data, CEL-SCI Corporation is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.