Latest Ratios: P/E Ratio 12.5x · EV/EBITDA N/A · ROE 17.3%. (2003–2025 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 | $882M | $481M | $379M | $759M | $797M | $2.7B | $1.7B | $550M | $311M | $197M | $46M |
| Enterprise Value | $862M | $461M | $585M | $1.1B | $1.2B | $3.0B | $1.8B | $507M | $289M | $182M | $41M |
| P/E Ratio → | 12.49 | 6.86 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.00 | 2.73 | 1.63 | 3.20 | 3.58 | 12.21 | 21.51 | 16.19 | 15.85 | 16.50 | 6.00 |
| P/B Ratio | 1.74 | 0.96 | 0.94 | 1.55 | 1.43 | 4.23 | 4.42 | 4.35 | 8.07 | 11.03 | 8.11 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | 334.42 | — | — | — | — | — |
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 | — | 2.62 | 2.51 | 4.76 | 5.37 | 13.50 | 22.71 | 14.94 | 14.70 | 15.24 | 5.40 |
| EV / EBITDA | — | — | — | — | 494.69 | 1242.97 | — | — | — | — | — |
| 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 | 47.1% | 47.1% | 42.6% | 43.8% | 43.4% | 43.4% | 46.2% | 51.1% | 52.2% | 49.9% | 40.4% |
| Operating Margin | -20.9% | -20.9% | -49.4% | -13.4% | -8.0% | -8.0% | -38.1% | -52.1% | -44.0% | -66.0% | -114.2% |
| Net Profit Margin | 44.4% | 44.4% | -42.7% | -15.7% | -123.8% | -123.8% | -41.5% | -54.0% | -48.7% | -66.1% | -170.8% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 17.3% | 17.3% | -22.4% | -7.1% | -46.0% | -53.8% | -12.8% | -22.2% | -33.9% | -67.0% | -245.8% |
| ROA | 10.7% | 10.7% | -12.0% | -3.7% | -25.6% | -33.1% | -9.5% | -19.0% | -24.9% | -55.7% | -168.4% |
| ROIC | -5.1% | -5.1% | -11.8% | -2.6% | -1.4% | -1.9% | -8.0% | -26.6% | -68.9% | -301.3% | -726.6% |
| ROCE | -6.2% | -6.2% | -14.8% | -3.3% | -1.7% | -2.2% | -9.3% | -19.2% | -24.1% | -65.9% | -161.3% |
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 | 0.46 | 0.46 | 0.62 | 0.85 | 0.78 | 0.67 | 0.34 | 0.04 | 0.38 | — | 0.11 |
| Debt / EBITDA | — | — | — | — | 180.28 | 176.61 | — | — | — | — | — |
| Net Debt / Equity | — | -0.04 | 0.51 | 0.76 | 0.72 | 0.45 | 0.25 | -0.34 | -0.59 | -0.84 | -0.81 |
| Net Debt / EBITDA | — | — | — | — | 165.14 | 119.09 | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -12.63 | -12.63 | -17.05 | -4.71 | -57.40 | -57.40 | -11.79 | -12.37 | -136.69 | -502.02 | -98.88 |
Net cash position: cash ($250M) exceeds total debt ($231M)
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 | 2.17 | 2.17 | 5.29 | 11.73 | 14.79 | 16.26 | 4.20 | 18.85 | 16.91 | 7.92 | 2.73 |
| Quick Ratio | 2.07 | 2.07 | 4.94 | 11.16 | 14.11 | 15.88 | 3.90 | 18.77 | 16.84 | 7.86 | 2.69 |
| Cash Ratio | 1.88 | 1.88 | 4.05 | 10.01 | 12.81 | 14.74 | 2.66 | 17.27 | 15.44 | 6.88 | -1247.16 |
| Asset Turnover | — | 0.23 | 0.33 | 0.25 | 0.21 | 0.20 | 0.14 | 0.25 | 0.35 | 0.59 | 0.95 |
| Inventory Turnover | 4.02 | 4.02 | 5.96 | 5.09 | 4.55 | 7.64 | 4.02 | 35.00 | 42.57 | 52.16 | 51.14 |
| Days Sales Outstanding | — | 69.11 | 71.63 | 64.72 | 71.91 | 64.62 | 145.53 | 76.33 | 65.90 | 49.63 | 56.83 |
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 | 8.0% | 14.6% | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 1.1% | 2.1% | 0.0% | 0.0% | 4.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.1% | 2.1% | 0.0% | 0.0% | 4.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $50M | $49M | $49M | $46M | $46M | $39M | $33M | $28M | $23M | $14M |
Includes 30+ ratios · 23 years · Updated daily
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Quick answers to the most common questions about buying CYRX stock.
Cryoport, Inc.'s current P/E ratio is 12.5x. The historical average is 6.9x. This places it at the 100th percentile of its historical range.
Cryoport, Inc.'s return on equity (ROE) is 17.3%. The historical average is -129.5%.
Based on historical data, Cryoport, Inc. is trading at a P/E of 12.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Cryoport, Inc. has 47.1% gross margin and -20.9% operating margin.
Key Metrics
Top Statement Risk
Sustained cash burn from Capex
Metrics are mathematically derived from official filings.
Valuation Tepid Amidst Negative Earnings
Cryoport's P/E ratio of 11.84 is misleadingly low given the company's negative returns on equity and assets, suggesting the multiple is distorted by a one-time non-cash gain in 2025Q2 that briefly swung net income positive.
The reported trailing P/E of 11.84 is a statistical anomaly, not a reflection of underlying value. It is heavily influenced by a single quarter of positive earnings in 2025Q2 (ROE of 26.4%) driven by non-recurring items, as the company's operating margin has remained deeply negative (around -20%) for the past six quarters. The P/B of 1.65 may offer a more relevant valuation anchor, but it compares a tangible asset base funded by equity raises to a history of persistent losses, implying the market is pricing future turnaround potential rather than current cash flows.
Gross Margin Improvement Offset by Operating Losses
Gross margins have stabilized in the mid-40% range, but this improvement is entirely consumed by persistent negative operating margins, indicating the business model remains unprofitable at its current scale and cost structure.
The company's gross margin of 46.6% in 2026Q2 represents a meaningful improvement from the low-40% levels in early 2024, suggesting better service mix or pricing power. However, this progress is rendered moot by operating margins that have hovered between -20% and -23% for the last five quarters, as SG&A and R&D expenses consume a fixed, large portion of revenue. The stark divergence between gross and operating profitability points to a significant operating leverage challenge that must be addressed before the company can achieve sustainable net income.
Negative ROIC Highlights Value Erosion
Return on Invested Capital has been negative for nine of the last ten quarters, consistently running between -1.2% and -7.3%, which implies the company is destroying shareholder value with its current capital deployment.
The negative ROIC trend, with only a brief exception in 2024Q3, is a fundamental concern. It indicates that the returns generated on the capital invested in the business are insufficient to cover the cost of that capital, directly eroding value. This is driven by both negative operating margins and a large asset base built through acquisitions and equity raises. The ROIC figures are slightly better than ROE in some quarters due to the leverage effect, but both metrics confirm the business is not yet compounding value.
Low Leverage Masked by Negative Interest Coverage
While the debt-to-equity ratio of 0.47 indicates manageable nominal leverage, the negative interest coverage ratio of -13.96 reveals that operating losses are severe enough to cover interest payments multiple times over, posing a refinancing risk if cash buffers deplete.
The balance sheet restructuring has successfully reduced D/E from a peak of 1.01 to 0.47, placing the company on solid footing from a debt level perspective. However, the negative interest coverage ratio is a stark reminder that the current operating structure cannot service even modest debt costs from core profits. This dependency is mitigated by the large cash balance, but investors should monitor whether the ongoing cash burn from operations and CapEx forces a return to debt markets under potentially unfavorable terms.
Strong Current Ratio Hides Capital-Intensive Burn
A current ratio of 2.08 and a quick ratio of 1.98 suggest strong short-term liquidity, but this is largely a function of a $269 million cash pile funding a deep operating deficit and a surging CapEx program.
The liquidity position appears robust on the surface, with both ratios well above the 1.0 threshold, indicating ample cover for near-term liabilities. The minimal difference between the current and quick ratios (2.08 vs. 1.98) implies inventory is not a significant liquidity concern. However, this strength is artificial; it reflects a strategic cash raise, not operational cash generation. With FCF margins plunging to -29.0%, the burn rate is high, and the sustainability of this liquidity position depends entirely on the pace of capital investment and the timeline to operational profitability.
The Most Misleading Metric: Price-to-Earnings
The most commonly misapplied ratio is the P/E of 11.84, which obscures the company's fundamental unprofitability and reliance on non-cash or non-recurring items to generate a positive net income figure in specific quarters.
Applying a P/E multiple to Cryoport is highly misleading because the denominator (Net Income) is not a reliable measure of recurring earnings power. The company has posted net losses in nine of the last ten quarters, with the single profitable quarter (2025Q2) driven by a massive non-cash gain. The P/E therefore presents a falsely optimistic valuation. A more appropriate metric for this business model would be the Price-to-Sales ratio (P/S) of 4.74, or an EV/Revenue multiple, as these focus on top-line scale while the company works to resolve its structural cost challenges and negative operating leverage.