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Eton Pharmaceuticals, Inc. (ETON) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Eton Pharmaceuticals, Inc. (ETON) stock price & volume — 10-year historical chart
Eton Pharmaceuticals, Inc. (ETON) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Eton Pharmaceuticals, Inc. (ETON) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 19, 2026 | $0.05vs $0.12-58.3% | $21Mvs $20M+6.5% |
| Q4 2025 | Nov 6, 2025 | $0.07vs $0.16-143.8% | $22Mvs $20M+9.7% |
| Q3 2025 | Aug 7, 2025 | $0.10vs $0.01-900.0% | $19Mvs $20M-7.6% |
| Q2 2025 | May 13, 2025 | $0.07vs $0.09-22.2% | $17Mvs $15M+14.2% |
Eton Pharmaceuticals, Inc. (ETON) competitors in Commercial Rare Disease Biopharma — business model, growth, and fundamentals comparison
Eton Pharmaceuticals, Inc. (ETON) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Eton Pharmaceuticals, Inc. (ETON) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 959K | 39K | 21.83M | 21.25M | 31.64M | 39.01M | 79.95M |
| Revenue Growth % | - | - | - | -95.93% | 55879.49% | -2.66% | 48.9% | 23.29% | 104.94% |
| Cost of Goods Sold | 13K | 63K | 453K | 286K | 2.62M | 6.93M | 10.58M | 15.6M | 37.21M |
| COGS % of Revenue | - | - | 47.24% | 733.33% | 12.01% | 32.62% | 33.44% | 39.99% | 46.54% |
| Gross Profit | -13K▲ 0% | -63K▼ 384.6% | 506K▲ 903.2% | -247K▼ 148.8% | 19.21M▲ 7876.9% | 14.32M▼ 25.5% | 21.06M▲ 47.1% | 23.41M▲ 11.2% | 42.74M▲ 82.6% |
| Gross Margin % | - | - | 52.76% | -633.33% | 87.99% | 67.38% | 66.56% | 60.01% | 53.46% |
| Gross Profit Growth % | - | -384.62% | 903.17% | -148.81% | 7876.92% | -25.46% | 47.09% | 11.16% | 82.56% |
| Operating Expenses | 7.14M | 10.32M | 19.11M | 26.86M | 20.7M | 22.58M | 22.25M | 26.01M | 43.58M |
| OpEx % of Revenue | - | - | 1992.39% | 68882.05% | 94.83% | 106.24% | 70.33% | 66.67% | 54.51% |
| Selling, General & Admin | 3.21M | 4.69M | 7.55M | 12.76M | 14.47M | 18.58M | 18.93M | 22.75M | 35.82M |
| SG&A % of Revenue | - | - | 787.49% | 32717.95% | 66.27% | 87.44% | 59.83% | 58.32% | 44.8% |
| Research & Development | 3.93M | 5.63M | 11.55M | 14.1M | 6.24M | 4M | 3.32M | 3.25M | 7.76M |
| R&D % of Revenue | - | - | 1204.9% | 36164.1% | 28.56% | 18.8% | 10.5% | 8.34% | 9.71% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -7.15M▲ 0% | -10.32M▼ 44.3% | -18.6M▼ 80.2% | -27.11M▼ 45.8% | -1.5M▲ 94.5% | -8.26M▼ 452.5% | -1.19M▲ 85.6% | -2.6M▼ 117.9% | -844K▲ 67.5% |
| Operating Margin % | - | - | -1939.62% | -69515.38% | -6.85% | -38.87% | -3.77% | -6.66% | -1.06% |
| Operating Income Growth % | - | -44.35% | -80.22% | -45.75% | 94.49% | -452.51% | 85.57% | -117.87% | 67.5% |
| EBITDA | -7.14M | -10.26M | -18.15M | -26.46M | -1.03M | -6.49M | -291K | -1.45M | -844K |
| EBITDA Margin % | - | - | -1893.01% | -67846.15% | -4.73% | -30.52% | -0.92% | -3.72% | -1.06% |
| EBITDA Growth % | - | -43.73% | -76.97% | -45.75% | 96.1% | -527.88% | 95.51% | -398.63% | 41.83% |
| D&A (Non-Cash Add-back) | 13K | 63K | 447K | 651K | 462K | 1.77M | 901K | 1.15M | 0 |
| EBIT | -7.16M | -10.32M | -18.6M | -27.11M | -1.5M | -8.26M | -1.19M | -2.6M | 0 |
| Net Interest Income | 0 | 0 | 281K | -889K | 0 | 0 | 0 | -2M | 0 |
| Interest Income | 52.5K | 164K | 281K | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 889K | 0 | 0 | 0 | 2M | -3.71M |
| Other Income/Expense | -6K | -2.42M | 281K | -859K | -460K | -761K | 503K | -1.21M | -3.71M |
| Pretax Income | -7.16M▲ 0% | -12.74M▼ 78.0% | -18.32M▼ 43.8% | -27.97M▼ 52.7% | -1.96M▲ 93.0% | -9.02M▼ 361.4% | -689K▲ 92.4% | -3.81M▼ 452.7% | -4.56M▼ 19.7% |
| Pretax Margin % | - | - | -1910.32% | -71717.95% | -8.95% | -42.45% | -2.18% | -9.76% | -5.7% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 247K | 15K | 43K |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | -35.85% | -0.39% | -0.94% |
| Net Income | -7.16M▲ 0% | -12.74M▼ 78.0% | -18.32M▼ 43.8% | -27.97M▼ 52.7% | -1.96M▲ 93.0% | -9.02M▼ 361.4% | -936K▲ 89.6% | -3.82M▼ 308.4% | -4.6M▼ 20.4% |
| Net Margin % | - | - | -1910.32% | -71717.95% | -8.95% | -42.45% | -2.96% | -9.8% | -5.75% |
| Net Income Growth % | - | -78.03% | -43.8% | -52.67% | 93.01% | -361.43% | 89.62% | -308.44% | -20.35% |
| Net Income (Continuing) | -7.16M | -12.74M | -18.32M | -27.97M | -1.96M | -9.02M | -936K | -3.82M | -4.6M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.41▲ 0% | -1.99▼ 385.4% | -1.02▲ 48.7% | -1.33▼ 30.4% | -0.08▲ 94.2% | -0.36▼ 363.9% | -0.04▲ 89.9% | -0.15▼ 311.0% | -0.17▼ 13.3% |
| EPS Growth % | - | -385.37% | 48.74% | -30.39% | 94.17% | -363.92% | 89.86% | -310.96% | -13.33% |
| EPS (Basic) | -0.41 | -1.99 | -1.02 | -1.33 | -0.08 | -0.36 | -0.04 | -0.15 | -0.17 |
| Diluted Shares Outstanding | 17.46M | 6.42M | 17.76M | 21.01M | 25.21M | 25.15M | 25.65M | 25.89M | 26.91M |
| Basic Shares Outstanding | 17.46M | 6.42M | 17.76M | 21.01M | 25.21M | 25.15M | 25.64M | 25.89M | 26.91M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Eton Pharmaceuticals, Inc. (ETON) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 13.29M | 27.5M | 15.01M | 24.7M | 23.6M | 20M | 26.84M | 41.02M | 60.58M |
| Cash & Short-Term Investments | 13.16M | 26.73M | 12.07M | 21.3M | 14.41M | 16.3M | 21.39M | 14.94M | 25.94M |
| Cash Only | 13.16M | 26.73M | 12.07M | 21.3M | 14.41M | 16.3M | 21.39M | 14.94M | 25.94M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 473K | 48K | 5.47M | 1.85M | 3.41M | 5.36M | 11.76M |
| Days Sales Outstanding | - | - | 180.03 | 449.23 | 91.47 | 31.81 | 39.35 | 50.16 | 53.67 |
| Inventory | 0 | 0 | 380K | 1.24M | 550K | 557K | 911K | 15.23M | 15.42M |
| Days Inventory Outstanding | - | - | 306.18 | 1.59K | 76.53 | 29.32 | 31.43 | 356.39 | 151.25 |
| Other Current Assets | 0 | 0 | 1M | 0 | 0 | 1.29M | 0 | 5.49M | 7.46M |
| Total Non-Current Assets | 151K | 825K | 2.06M | 1.62M | 3.86M | 5.03M | 4.9M | 35.1M | 31.53M |
| Property, Plant & Equipment | 119K | 773K | 1.28M | 1M | 219K | 260K | 150K | 209K | 636K |
| Fixed Asset Turnover | - | - | 0.75x | 0.04x | 99.69x | 81.73x | 210.95x | 186.66x | 125.71x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 725K | 575K | 3.62M | 4.75M | 4.74M | 34.88M | 30.88M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 32K | 52K | 61K | 40K | 21K | 12K | 12K | 12K | 19K |
| Total Assets | 13.44M▲ 0% | 28.33M▲ 110.7% | 17.07M▼ 39.7% | 26.32M▲ 54.2% | 27.46M▲ 4.4% | 25.03M▼ 8.9% | 31.74M▲ 26.8% | 76.12M▲ 139.8% | 92.11M▲ 21.0% |
| Asset Turnover | - | - | 0.06x | 0.00x | 0.79x | 0.85x | 1.00x | 0.51x | 0.87x |
| Asset Growth % | - | 110.72% | -39.73% | 54.16% | 4.35% | -8.87% | 26.81% | 139.83% | 21.01% |
| Total Current Liabilities | 793K | 2.02M | 1.96M | 3.79M | 4.56M | 6.46M | 16.24M | 19.95M | 38.49M |
| Accounts Payable | 539K | 1.42M | 575K | 2.34M | 1.77M | 1.77M | 1.85M | 4.17M | 10.98M |
| Days Payables Outstanding | 15.13K | 8.23K | 463.3 | 2.99K | 246.86 | 92.97 | 63.75 | 97.5 | 107.67 |
| Short-Term Debt | 0 | 0 | 0 | 280K | 1.42M | 1.03M | 5.38M | 0 | 8.79M |
| Deferred Revenue (Current) | 0 | 0 | -133K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 133K | 0 | 0 | 0 | 0 | 15.74M | 29.7M |
| Current Ratio | 16.76x | 13.59x | 7.65x | 6.51x | 5.18x | 3.10x | 1.65x | 2.06x | 1.57x |
| Quick Ratio | 16.76x | 13.59x | 7.45x | 6.18x | 5.06x | 3.01x | 1.60x | 1.29x | 1.17x |
| Cash Conversion Cycle | - | - | 22.91 | -957.17 | -78.86 | -31.84 | 7.02 | 309.05 | 97.26 |
| Total Non-Current Liabilities | 520K | 1.42M | 4.56M | 6.86M | 5.28M | 5.49M | 22K | 31.75M | 27.47M |
| Long-Term Debt | 0 | 0 | 4.54M | 6.76M | 5.26M | 5.38M | 0 | 29.81M | 460K |
| Capital Lease Obligations | 0 | 0 | 19K | 99K | 15K | 107K | 22K | 107K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 520K | 0 | 0 | 0 | 0 | 0 | 0 | 1.83M | 27.01M |
| Total Liabilities | 1.31M | 2.02M | 6.52M | 10.66M | 9.84M | 11.95M | 16.26M | 51.7M | 65.96M |
| Total Debt | 0 | 0 | 4.56M | 7.14M | 6.7M | 6.52M | 5.4M | 29.92M | 9.25M |
| Net Debt | -13.16M | -26.73M | -7.51M | -14.15M | -7.71M | -9.78M | -15.99M | 14.98M | -16.69M |
| Debt / Equity | - | - | 0.43x | 0.46x | 0.38x | 0.50x | 0.35x | 1.22x | 0.35x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | -30.50x | - | - | - | -1.30x | - |
| Total Equity | 12.13M▲ 0% | 26.3M▲ 116.8% | 10.55M▼ 59.9% | 15.66M▲ 48.5% | 17.63M▲ 12.6% | 13.08M▼ 25.8% | 15.48M▲ 18.3% | 24.43M▲ 57.8% | 26.15M▲ 7.1% |
| Equity Growth % | - | 116.84% | -59.89% | 48.46% | 12.56% | -25.82% | 18.34% | 57.83% | 7.07% |
| Book Value per Share | 0.69 | 4.10 | 0.59 | 0.75 | 0.70 | 0.52 | 0.60 | 0.94 | 0.97 |
| Total Shareholders' Equity | 12.13M | 26.3M | 10.55M | 15.66M | 17.63M | 13.08M | 15.48M | 24.43M | 26.15M |
| Common Stock | 6K | 18K | 18K | 24K | 25K | 25K | 26K | 27K | 27K |
| Retained Earnings | -8.64M | -45.87M | -64.19M | -92.16M | -94.11M | -103.13M | -104.07M | -107.89M | -112.49M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Eton Pharmaceuticals, Inc. (ETON) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -4.72M | -8.14M | -18.03M | -22.35M | -4.72M | 4.82M | 6.82M | 969K | 10.52M |
| Operating CF Margin % | - | - | -1879.67% | -57297.44% | -21.62% | 22.69% | 21.54% | 2.48% | 13.16% |
| Operating CF Growth % | - | -72.64% | -121.31% | -23.97% | 78.87% | 202.12% | 41.36% | -85.78% | 986.07% |
| Net Income | -7.16M | -12.74M | -18.32M | -27.97M | -1.96M | -9.02M | -936K | -3.82M | -4.6M |
| Depreciation & Amortization | 13K | 63K | 447K | 651K | 462K | 1.77M | 901K | 1.15M | 4.04M |
| Stock-Based Compensation | 2.64M | 1.85M | 1.89M | 2.58M | 3.38M | 4.22M | 3.14M | 3.17M | 5.51M |
| Deferred Taxes | 0 | 0 | 0 | 0 | -546K | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.29M | 2.58M | 16K | 1.39M | 148K | 189K | 184K | 1.18M | 5.57M |
| Working Capital Changes | 623K | 99K | -2.06M | 1.01M | -6.21M | 7.66M | 3.53M | -698K | 0 |
| Change in Receivables | 0 | 0 | -473K | 425K | -5.42M | 3.62M | -1.56M | -3.12M | -6.4M |
| Change in Inventory | 0 | 0 | -380K | -862K | 692K | -7K | -354K | -1.31M | 5.09M |
| Change in Payables | 539K | 413K | -377K | 1.77M | -570K | -8K | 53K | 2.32M | 6.81M |
| Cash from Investing | -130K | -236K | -1.85M | -50K | -2.56M | -2.79M | -775K | -40.01M | -333K |
| Capital Expenditures | -130K | -236K | -1.1M | -50K | -3.26M | -38K | -775K | -26K | -333K |
| CapEx % of Revenue | - | - | 114.29% | 128.21% | 14.93% | 0.18% | 2.45% | 0.07% | 0.42% |
| Acquisitions | 0 | 0 | 0 | 0 | 700K | 0 | 0 | -30M | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 0 | -750K | 0 | 0 | -2.75M | 0 | -9.99M | 0 |
| Cash from Financing | 18M | 21.96M | 5.2M | 31.63M | 391K | -134K | -957K | 32.59M | 815K |
| Debt Issued (Net) | 0 | 0 | 4.75M | 2.48M | -150K | -385K | -1.16M | 24.15M | 0 |
| Equity Issued (Net) | 0 | 1000K | 0 | 1000K | 541K | 0 | 0 | 1000K | 0 |
| Dividends Paid | 0 | -1.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 18M | 205K | 453K | 367K | 0 | 251K | 198K | 248K | 815K |
| Net Change in Cash | 13.16M▲ 0% | 13.58M▲ 3.2% | -14.67M▼ 208.0% | 9.23M▲ 162.9% | -6.89M▼ 174.6% | 1.9M▲ 127.6% | 5.08M▲ 167.7% | -6.45M▼ 226.9% | 11.01M▲ 270.6% |
| Free Cash Flow | -4.85M▲ 0% | -8.38M▼ 72.9% | -19.87M▼ 137.1% | -22.4M▼ 12.7% | -7.98M▲ 64.4% | 2.03M▲ 125.5% | 6.04M▲ 197.1% | 943K▼ 84.4% | 10.19M▲ 980.7% |
| FCF Margin % | - | - | -2072.16% | -57425.64% | -36.55% | 9.57% | 19.09% | 2.42% | 12.75% |
| FCF Growth % | - | -72.88% | -137.11% | -12.7% | 64.37% | 125.48% | 197.1% | -84.39% | 980.7% |
| FCF per Share | -0.28 | -1.31 | -1.12 | -1.07 | -0.32 | 0.08 | 0.24 | 0.04 | 0.38 |
| FCF Conversion (FCF/Net Income) | 0.66x | 0.64x | 0.98x | 0.80x | 2.41x | -0.53x | -7.28x | -0.25x | -2.29x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 730K | 842K | 665K | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 247K | 82K | 0 |
Eton Pharmaceuticals, Inc. (ETON) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -58.99% | -66.3% | -99.42% | -213.41% | -11.74% | -58.75% | -6.56% | -19.16% | -18.19% |
| Return on Invested Capital (ROIC) | - | - | -1068.61% | -893.18% | -19.62% | -93.75% | -64.13% | -10.01% | -2.59% |
| Gross Margin | - | - | 52.76% | -633.33% | 87.99% | 67.38% | 66.56% | 60.01% | 53.46% |
| Net Margin | - | - | -1910.32% | -71717.95% | -8.95% | -42.45% | -2.96% | -9.8% | -5.75% |
| Debt / Equity | - | - | 0.43x | 0.46x | 0.38x | 0.50x | 0.35x | 1.22x | 0.35x |
| Interest Coverage | - | - | - | -30.50x | - | - | - | -1.30x | - |
| FCF Conversion | 0.66x | 0.64x | 0.98x | 0.80x | 2.41x | -0.53x | -7.28x | -0.25x | -2.29x |
| Revenue Growth | - | - | - | -95.93% | 55879.49% | -2.66% | 48.9% | 23.29% | 104.94% |
Eton Pharmaceuticals, Inc. (ETON) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 16, 2026·SEC
Apr 15, 2026·SEC
Mar 19, 2026·SEC
Eton Pharmaceuticals, Inc. (ETON) stock FAQ — growth, dividends, profitability & financials explained
Eton Pharmaceuticals, Inc. (ETON) reported $80.0M in revenue for fiscal year 2025.
Eton Pharmaceuticals, Inc. (ETON) grew revenue by 104.9% over the past year. This is strong growth.
Eton Pharmaceuticals, Inc. (ETON) reported a net loss of $4.6M for fiscal year 2025.
Eton Pharmaceuticals, Inc. (ETON) has a return on equity (ROE) of -18.2%. Negative ROE indicates the company is unprofitable.
Eton Pharmaceuticals, Inc. (ETON) had negative free cash flow of $0.3M in fiscal year 2025, likely due to heavy capital investments.
Eton Pharmaceuticals, Inc. (ETON) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates