Eton Pharmaceuticals, Inc. (ETON) Financial Ratios
9 years of historical data (2017–2025) · Healthcare · Biotechnology
EV/EBITDA
218.99
↑+96% vs avg
5yr avg: 111.78
P/FCF
↑
87.95
↓-24% vs avg
5yr avg: 115.97
30Y Low18.6·High44.6
P/B Ratio
↑
33.66
↑+234% vs avg
5yr avg: 10.07
30Y Low1.5·High17.4
ROE
↓
-18.2%
↓+20% vs avg
5yr avg: -22.9%
30Y Low-213%·High-7%
Debt/EBITDA
7.54
+0% vs avg
5yr avg: 7.54
30Y Low7.5·High7.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
ETON Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Eton Pharmaceuticals, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis. On a free-cash-flow basis, the stock trades at 87.9x P/FCF, 24% below the 5-year average of 116.0x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $896M | $455M | $345M | $112M | $71M | $108M | $171M | $128M | $39M | — |
| Enterprise Value | $901M | $460M | $360M | $96M | $61M | $100M | $157M | $120M | $13M | — |
| P/E Ratio → | -192.47 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 11.21 | 5.69 | 8.84 | 3.55 | 3.34 | 4.95 | 4379.78 | 133.35 | — | — |
| P/B Ratio | 33.66 | 17.40 | 14.12 | 7.26 | 5.42 | 6.13 | 10.91 | 12.12 | 1.49 | — |
| P/FCF | 87.95 | 44.65 | 365.77 | 18.60 | 34.88 | — | — | — | — | — |
| P/OCF | 85.17 | 43.24 | 355.96 | 16.48 | 14.71 | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
ETON EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Eton Pharmaceuticals, Inc.'s enterprise value stands at 219.0x EBITDA, 96% above its 5-year average of 111.8x. The Healthcare sector median is 14.2x, placing the stock at a 1441% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 5.75 | 9.23 | 3.04 | 2.88 | 4.60 | 4016.88 | 125.52 | — | — |
| EV / EBITDA | 218.99 | 111.78 | — | — | — | — | — | — | — | — |
| EV / EBIT | 9999.00 | 6390.14 | — | — | — | — | — | — | — | — |
| EV / FCF | — | 45.15 | 381.66 | 15.95 | 30.07 | — | — | — | — | — |
ETON Profitability
Margins and return-on-capital ratios measuring operating efficiency
Eton Pharmaceuticals, Inc. earns an operating margin of 0.1%. Operating margins have expanded from -3.8% to 0.1% over the past 3 years, signaling improving operational efficiency. A negative ROE of -18.2% indicates the company is currently destroying shareholder equity. ROIC of 0.2% represents below-average returns on invested capital.
Margins
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 53.5% | 53.5% | 60.0% | 66.6% | 67.4% | 88.0% | -633.3% | 52.8% | — | — |
| Operating Margin | 0.1% | 0.1% | -6.7% | -3.8% | -38.9% | -6.8% | -69515.4% | -1939.6% | — | — |
| Net Profit Margin | -5.8% | -5.8% | -9.8% | -3.0% | -42.4% | -9.0% | -71717.9% | -1910.3% | — | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -18.2% | -18.2% | -19.2% | -6.6% | -58.8% | -11.7% | -213.4% | -99.4% | -66.3% | -59.0% |
| ROA | -5.5% | -5.5% | -7.1% | -3.3% | -34.4% | -7.3% | -128.9% | -80.7% | -61.0% | -53.2% |
| ROIC | 0.2% | 0.2% | -10.0% | -64.1% | -93.8% | -19.6% | -893.2% | -1068.6% | — | — |
| ROCE | 0.1% | 0.1% | -7.2% | -7.0% | -39.8% | -6.6% | -144.1% | -89.8% | -53.0% | -56.5% |
ETON Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Eton Pharmaceuticals, Inc. carries a Debt/EBITDA ratio of 7.5x, which is highly leveraged (134% above the sector average of 3.2x). Net debt stands at $5M ($31M total debt minus $26M cash). Interest coverage of just 0.0x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.19 | 1.19 | 1.22 | 0.35 | 0.50 | 0.38 | 0.46 | 0.43 | — | — |
| Debt / EBITDA | 7.54 | 7.54 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.19 | 0.61 | -1.03 | -0.75 | -0.44 | -0.90 | -0.71 | -1.02 | -1.08 |
| Net Debt / EBITDA | 1.23 | 1.23 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | 0.50 | 15.89 | -2.65 | -4.81 | — | — | — | — | — |
| Interest Coverage | 0.02 | 0.02 | -1.30 | — | — | — | -30.50 | — | — | — |
ETON Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.57x means Eton Pharmaceuticals, Inc. can comfortably meet its short-term obligations, though there is limited excess liquidity. The quick ratio of 1.17x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has declined from 1.65x to 1.57x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.57 | 1.57 | 2.06 | 1.65 | 3.10 | 5.18 | 6.51 | 7.65 | 13.59 | 16.76 |
| Quick Ratio | 1.17 | 1.17 | 1.29 | 1.60 | 3.01 | 5.06 | 6.18 | 7.45 | 13.59 | 16.76 |
| Cash Ratio | 0.67 | 0.67 | 0.75 | 1.32 | 2.52 | 3.16 | 5.61 | 6.15 | 13.21 | 16.59 |
| Asset Turnover | — | 0.87 | 0.51 | 1.00 | 0.85 | 0.79 | 0.00 | 0.06 | — | — |
| Inventory Turnover | 2.41 | 2.41 | 1.02 | 11.61 | 12.45 | 4.77 | 0.23 | 1.19 | — | — |
| Days Sales Outstanding | — | 53.67 | 50.16 | 39.35 | 31.81 | 91.47 | 449.23 | 180.03 | — | — |
ETON Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Eton Pharmaceuticals, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | 2.7% | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 1.1% | 2.2% | 0.3% | 5.4% | 2.9% | — | — | — | — | — |
| Buyback Yield | 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% | 2.7% | — |
| Shares Outstanding | — | $27M | $26M | $26M | $25M | $25M | $21M | $18M | $6M | $17M |
Peer Comparison
Compare ETON with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 ETONYou | $896M | -192.5 | 219.0 | 87.9 | 53.5% | 0.1% | -18.2% | 0.2% | 7.5 |
 PRAX | $9B | -22.5 | — | — | — | — | -45.8% | -65.0% | — |
 AVDL | $2B | -42.4 | — | — | 91.0% | -25.1% | -60.4% | -76.3% | — |
 TLRY | $535M | -0.1 | — | — | 29.3% | -277.9% | -89.1% | -66.2% | — |
 MNPR | $460M | -37.1 | — | — | — | — | -14.2% | -29.4% | — |
 KALA | $78M | -1.1 | — | — | — | — | -279.2% | — | — |
 SLRX | $697790 | -0.0 | — | — | — | — | -164.0% | — | — |
 LNTH | $7B | 31.1 | 17.2 | 19.5 | 61.1% | 20.2% | 21.4% | 30.6% | 0.0 |
 SUPN | $3B | -65.4 | 45.2 | 55.7 | 89.6% | -5.1% | -3.7% | -2.8% | 0.7 |
 CORT | $9B | 97.2 | 180.8 | 60.4 | 98.3% | 5.9% | 15.0% | 6.2% | 0.1 |
 PAHC | $1B | 26.1 | 12.5 | 30.1 | 30.9% | 8.5% | 17.8% | 9.8% | 4.9 |
| Healthcare Median | — | 22.1 | 14.2 | 18.4 | 63.9% | -4.4% | -33.2% | -11.7% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 9 years · Updated daily
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ETON — Frequently Asked Questions
Quick answers to the most common questions about buying ETON stock.
What is Eton Pharmaceuticals, Inc.'s P/E ratio?
Eton Pharmaceuticals, Inc.'s current P/E ratio is -192.5x. This places it at the 50th percentile of its historical range.
What is Eton Pharmaceuticals, Inc.'s EV/EBITDA?
Eton Pharmaceuticals, Inc.'s current EV/EBITDA is 219.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA.
What is Eton Pharmaceuticals, Inc.'s ROE?
Eton Pharmaceuticals, Inc.'s return on equity (ROE) is -18.2%. The historical average is -61.4%.
Is ETON stock overvalued?
Based on historical data, Eton Pharmaceuticals, Inc. is trading at a P/E of -192.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Eton Pharmaceuticals, Inc.'s profit margins?
Eton Pharmaceuticals, Inc. has 53.5% gross margin and 0.1% operating margin.
How much debt does Eton Pharmaceuticals, Inc. have?
Eton Pharmaceuticals, Inc.'s Debt/EBITDA ratio is 7.5x, indicating high leverage. A ratio above 4x may signal elevated financial risk.