Latest Ratios: P/E Ratio 262.2x · EV/EBITDA 35.9x · ROE 4.2%. (2004–2025 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 | $539M | $728M | $1.2B | $1.7B | $602M | $418M | $1.8B | $1.2B | $1.3B | $701M | $114M |
| Enterprise Value | $503M | $692M | $1.2B | $1.7B | $577M | $376M | $1.8B | $1.2B | $1.3B | $691M | $123M |
| P/E Ratio → | 262.22 | 313.78 | 242.00 | — | 265.00 | — | — | — | — | — | — |
| P/S Ratio | 4.62 | 6.25 | 11.70 | 14.91 | 5.88 | 57.00 | 86.66 | — | 221193.86 | 688.14 | 285.46 |
| P/B Ratio | 4.28 | 5.12 | 12.58 | 121.24 | 8.33 | 10.18 | 23.86 | 17.94 | 11.06 | 22.76 | 7.09 |
| P/FCF | — | — | — | 97.72 | 105.95 | — | — | — | — | — | — |
| P/OCF | 533.87 | 721.24 | — | 65.32 | 56.36 | — | — | — | — | — | — |
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 | — | 5.94 | 11.61 | 14.62 | 5.64 | 51.28 | 85.29 | — | 215991.70 | 678.92 | 308.36 |
| EV / EBITDA | 35.91 | 49.41 | 69.15 | — | 55.86 | — | — | — | — | — | — |
| EV / EBIT | 43.78 | 47.96 | 75.64 | 86.30 | 61.32 | — | — | — | — | — | — |
| EV / FCF | — | — | — | 95.81 | 101.63 | — | — | — | — | — | — |
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 | 95.4% | 95.4% | 96.3% | 95.9% | 95.3% | -4.5% | 56.3% | — | -357800.0% | -1162.0% | -2545.4% |
| Operating Margin | 9.9% | 9.9% | 15.3% | -59.3% | 9.0% | -1141.0% | -273.9% | — | -563700.0% | -2143.6% | -5117.3% |
| Net Profit Margin | 4.3% | 4.3% | 11.4% | -81.9% | 2.3% | -1198.3% | -265.1% | — | -500916.7% | -2118.0% | -4246.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.2% | 4.2% | 21.5% | -215.7% | 4.1% | -150.1% | -76.9% | -58.6% | -39.9% | -92.1% | -71.4% |
| ROA | 3.4% | 3.4% | 10.0% | -92.3% | 3.3% | -116.8% | -57.4% | -49.4% | -36.6% | -55.6% | -31.5% |
| ROIC | 8.9% | 8.9% | 35.1% | -353.8% | 29.5% | -270.2% | -84.3% | -59.9% | -46.1% | -70.2% | -50.0% |
| ROCE | 9.1% | 9.1% | 16.0% | -79.6% | 16.1% | -141.3% | -78.2% | -60.4% | -44.8% | -93.1% | -85.3% |
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 | 0.01 | 0.01 | 0.02 | 0.03 | 0.01 | 0.06 | 0.02 | 0.03 | — | 0.17 | 1.21 |
| Debt / EBITDA | 0.07 | 0.07 | 0.09 | — | 0.06 | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.25 | -0.10 | -2.37 | -0.34 | -1.02 | -0.38 | -0.20 | -0.26 | -0.31 | 0.57 |
| Net Debt / EBITDA | -2.58 | -2.58 | -0.58 | — | -2.38 | — | — | — | — | — | — |
| Debt / FCF | — | — | — | -1.91 | -4.33 | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($37M) exceeds total debt ($939000)
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 | 5.60 | 5.60 | 3.32 | 2.85 | 4.06 | 3.63 | 5.03 | 3.32 | 25.83 | 4.48 | 1.71 |
| Quick Ratio | 5.04 | 5.04 | 2.99 | 2.64 | 3.56 | 3.57 | 5.03 | 3.32 | 25.83 | 3.87 | 0.82 |
| Cash Ratio | 2.87 | 2.87 | 1.37 | 1.67 | 2.06 | 3.31 | 4.46 | 2.66 | 25.02 | 3.71 | 0.78 |
| Asset Turnover | — | 0.70 | 0.84 | 0.97 | 1.21 | 0.13 | 0.22 | — | 0.00 | 0.03 | 0.01 |
| Inventory Turnover | 0.53 | 0.53 | 0.61 | 1.08 | 0.78 | 8.54 | — | — | — | 2.42 | 0.54 |
| Days Sales Outstanding | — | 115.67 | 100.62 | 54.18 | 55.72 | 90.43 | 57.73 | — | — | 8.61 | 28.36 |
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 | — | — | — | — | — | — | — | — | — | 0.6% | — |
| 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 | 0.4% | 0.3% | 0.4% | — | 0.4% | — | — | — | — | — | — |
| FCF Yield | — | — | — | 1.0% | 0.9% | — | — | — | — | — | — |
| 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% | 0.6% | 0.0% |
| Shares Outstanding | — | $103M | $102M | $66M | $76M | $31M | $19M | $12M | $11M | $3M | $778780 |
Includes 30+ ratios · 22 years · Updated daily
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Quick answers to the most common questions about buying GYRE stock.
Gyre Therapeutics, Inc.'s current P/E ratio is 262.2x. This places it at the 50th percentile of its historical range.
Gyre Therapeutics, Inc.'s current EV/EBITDA is 35.9x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 58.1x.
Gyre Therapeutics, Inc.'s return on equity (ROE) is 4.2%. The historical average is -45.2%.
Based on historical data, Gyre Therapeutics, Inc. is trading at a P/E of 262.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Gyre Therapeutics, Inc. has 95.4% gross margin and 9.9% operating margin.
Gyre Therapeutics, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Sustained cash burn and negative operating leverage
Metrics are mathematically derived from official filings.
Premium Valuation Amidst Operational Losses
Gyre's P/E ratio of 292.89 and EV/EBITDA of 40.41 reflect a significant premium to peers like ACADIA (P/E 12.71) and Innoviva (P/E 6.35), pricing in future growth that is not yet supported by current earnings.
The extreme valuation multiples are disconnected from the company's current financial performance, as evidenced by its negative operating margins and net losses. This suggests the market is valuing Gyre based on the potential of its pipeline or future commercial success rather than its present financials. Investors are effectively paying for optionality, which introduces substantial risk if clinical or commercial milestones are not met.
Elite Gross Margins Mask Severe Operating Losses
Gyre's gross margin consistently exceeds 92%, yet its operating margin has deteriorated to -49.3% in 2026Q2, indicating that R&D and SG&A expenses are overwhelming its core profitability.
The stark divergence between gross and operating margins reveals a business model where the cost of goods sold is minimal, but the investment required to develop and commercialize products is immense. This structure means profitability is highly sensitive to operating expense control and revenue scale. The recent trend shows operating losses widening even as revenue grows, signaling negative operating leverage that must be reversed for long-term viability.
Negative Returns Signal Capital Destruction
Return on Invested Capital (ROIC) has swung from a positive 30.2% in 2024Q1 to a negative -9.6% in 2026Q2, indicating the company is currently destroying value on the capital deployed.
The collapse in ROIC is driven by the shift from net profitability to sustained operating losses, not by changes in capital efficiency. This trend is unsustainable and highlights that the company's investments in R&D and commercialization have not yet generated commensurate returns. The negative ROIC underscores the critical need for the company to achieve positive operating leverage and scale its revenue base.
Extended Cash Cycle Highlights Working Capital Drag
Gyre's Cash Conversion Cycle (CCC) has ballooned to 524 days in 2026Q2, primarily driven by a Days Inventory Outstanding (DIO) of 469 days, which ties up significant capital.
The extremely long CCC, particularly the high DIO, suggests potential challenges in inventory management or a business model with long production and sales cycles. This extended cycle consumes working capital that could otherwise fund operations, exacerbating the cash burn. The company's ability to shorten this cycle, especially by reducing inventory holding periods, is a key operational lever to improve cash flow.
Strong Liquidity Buffer Amidst Cash Burn
Gyre's current ratio of 4.26 and quick ratio of 3.86 in 2026Q2 indicate a robust short-term liquidity position, bolstered by a cash balance of $43.3M.
The strong liquidity ratios provide a crucial cushion against the company's negative free cash flow, which was -61.9% of revenue in the most recent quarter. This buffer is essential for funding ongoing operations and R&D without immediate need for external financing. However, the sustainability of this position is directly tied to the rate of cash burn and the company's ability to secure future capital.
The Misleading Signal of High Gross Margin
The most commonly misapplied ratio for Gyre is its gross margin, which at over 92% suggests a highly profitable business, but obscures the severe operating losses and negative cash flow that define its current financial reality.
For a pre-commercial or early-commercial biotech, gross margin is often irrelevant as it excludes the massive R&D and SG&A costs required to bring a product to market. Focusing on this metric would lead to a gross overestimation of the company's earning power. A more appropriate metric is operating margin or free cash flow margin, which captures the full cost structure and provides a truer picture of financial health.