Latest Ratios: P/E Ratio -6.9x · EV/EBITDA N/A · ROE -45.8%. (2012–2025 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 | $233M | $124M | $200M | $44M | $33M | $65M | $233M | $7M | $14M | $19M | $374235 |
| Enterprise Value | $210M | $101M | $180M | $40M | $-23092621 | $-18709643 | $119M | $-1623319 | $1M | $2M | $-19401765 |
| P/E Ratio → | -6.93 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 3.92 | 1.52 | 1.69 | 6.15 | 0.39 | 0.40 | 1.22 | 0.72 | 0.99 | 0.98 | 0.01 |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -45.8% | -45.8% | -57.7% | -255.0% | -70.9% | -19.5% | -22.8% | -133.7% | -82.9% | -56.6% | -85.7% |
| ROA | -26.3% | -26.3% | -27.2% | -128.2% | -66.8% | -18.8% | -21.9% | -114.5% | -74.2% | -51.8% | -77.7% |
| ROIC | -79.3% | -79.3% | -104.3% | -204.8% | -122.3% | -35.3% | -35.7% | -845.0% | -564.1% | -211.6% | -127.7% |
| ROCE | -52.6% | -52.6% | -56.2% | -50.1% | -70.1% | -20.4% | -18.1% | -117.7% | -82.8% | -56.6% | -85.9% |
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 | 0.01 | 0.01 | 0.01 | 0.05 | 0.01 | 0.00 | 0.00 | 0.03 | — | — | 0.13 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.27 | -0.17 | -0.59 | -0.66 | -0.51 | -0.60 | -0.89 | -0.90 | -0.89 | -0.74 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -1.68 | — | — | — | — |
Net cash position: cash ($23M) exceeds total debt ($641000)
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 | 7.40 | 7.40 | 12.42 | 14.41 | 9.19 | 20.07 | 46.57 | 7.54 | 5.63 | 13.19 | 10.48 |
| Quick Ratio | 7.40 | 7.40 | 12.42 | 14.41 | 9.19 | 20.07 | 46.57 | 6.88 | 5.63 | 13.19 | 10.48 |
| Cash Ratio | 7.27 | 7.27 | 12.11 | 13.12 | 8.71 | 19.28 | 45.99 | 6.65 | 5.12 | 11.97 | 9.72 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | 0.21 | — | — | — |
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | 0.0% | — | — | — | — |
| 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 | — | $82M | $49M | $25M | $14M | $15M | $15M | $655525 | $500297 | $259867 | $2362 |
Clinical trial funding shortfall
Based on reported financial data, Eledon's price-to-book ratio of 3.81 suggests that investors are pricing the firm primarily on the potential of its pipeline rather than tangible assets, a common valuation characteristic for clinical-stage biotechnology companies lacking current revenue streams or positive earnings multiples.
The absence of P/E and P/S multiples underscores the speculative nature of the equity, as the market is essentially discounting the probability of success for tegoprubart. Investors should monitor whether this valuation premium holds as the company approaches critical data readouts, as any clinical setback could lead to a rapid compression of the P/B multiple.
According to historical financial statements, Eledon's ROIC has remained consistently negative, with recent figures showing a -20.7% return in 2026Q1, reflecting the structural reality that capital is being deployed into long-term R&D projects that have yet to generate any offsetting operational returns.
The volatility in ROIC, which saw a sharp decline to -85.6% in 2024Q3, highlights the difficulty of measuring capital efficiency during a period of intense clinical trial spending. This trend suggests that the company is currently in a value-consuming phase, where the primary objective is de-risking the asset rather than optimizing capital returns.
As reported in recent quarterly filings, Eledon's current ratio has fluctuated significantly, dropping from 14.41 in 2023Q4 to 8.44 in 2026Q1, which indicates a tightening liquidity position as the company continues to burn through its cash reserves to fund ongoing clinical development programs.
While the current ratio remains numerically high, it is heavily influenced by the rapid depletion of cash relative to current liabilities. This trend suggests that the company's ability to maintain operations without external financing is diminishing, warranting close attention to the timing of future capital raises.
Based on the company's reported figures, the debt-to-equity ratio remains negligible at 0.01 as of 2026Q1, which appears to indicate a conservative capital structure that avoids the immediate burden of interest payments during this high-risk, pre-revenue phase of clinical development.
The lack of significant leverage is a strategic choice that preserves optionality, yet it does not eliminate the underlying financial risk associated with the company's high cash burn. Investors should note that while the balance sheet is not burdened by debt, the reliance on equity financing creates a different form of pressure through potential shareholder dilution.
The most commonly misapplied metric for Eledon is the P/E ratio, which, as indicated by the reported -6.75 TTM figure, provides no meaningful insight into the company's intrinsic value because the firm is currently in a pre-revenue, clinical-stage development cycle.
Using earnings-based multiples for a company that is fundamentally designed to consume cash for R&D obscures the true value proposition of its pipeline. Analysts should instead focus on probability-adjusted net present value (rNPV) models that account for clinical trial milestones and the potential market size of the transplant niche.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying ELDN stock.
Eledon Pharmaceuticals, Inc.'s current P/E ratio is -6.9x. This places it at the 50th percentile of its historical range.
Eledon Pharmaceuticals, Inc.'s return on equity (ROE) is -45.8%. The historical average is -81.8%.
Based on historical data, Eledon Pharmaceuticals, Inc. is trading at a P/E of -6.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.