Heron Therapeutics, Inc. (HRTX) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
30Y Low27.8·High27.8
P/FCF
N/A
—
5yr avg: N/A
30Y Low3.9·High3.9
P/B Ratio
↑
14.42
-8% vs avg
5yr avg: 15.60
30Y Low1.0·High28.0
ROE
↓
-140.9%
↓+38% vs avg
5yr avg: -227.0%
30Y Low-399%·High58%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low0.8·High0.8
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HRTX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Heron Therapeutics, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $234M | $217M | $233M | $235M | $272M | $899M | $1.9B | $1.9B | $1.9B | $978M | $497M |
| Enterprise Value | $346M | $329M | $385M | $386M | $415M | $968M | $1.8B | $1.9B | $1.9B | $862M | $536M |
| P/E Ratio → | -10.33 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.51 | 1.40 | 1.62 | 1.85 | 2.53 | 10.41 | 21.68 | 13.17 | 24.51 | 31.79 | 388.44 |
| P/B Ratio | 14.42 | 15.12 | — | — | 20.08 | 11.59 | 8.12 | 4.76 | 5.13 | 7.46 | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
HRTX EV Ratios
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 | — | 2.12 | 2.67 | 3.04 | 3.85 | 11.21 | 20.77 | 12.81 | 24.15 | 28.02 | 419.32 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
HRTX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Heron Therapeutics, Inc. earns an operating margin of -1.6%. Operating margins have expanded from -87.1% to -1.6% over the past 3 years, signaling improving operational efficiency. A negative ROE of -140.9% indicates the company is currently destroying shareholder equity.
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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 73.3% | 73.3% | 73.2% | 48.8% | 49.0% | 46.7% | 59.2% | 57.8% | 64.5% | 85.1% | 97.3% |
| Operating Margin | -1.6% | -1.6% | -8.0% | -87.1% | -162.2% | -252.3% | -257.4% | -144.3% | -237.4% | -632.4% | -13363.2% |
| Net Profit Margin | -13.0% | -13.0% | -9.4% | -87.0% | -169.1% | -255.6% | -256.4% | -140.3% | -230.8% | -641.9% | -13537.4% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -140.9% | -140.9% | — | — | -399.4% | -140.5% | -71.0% | -52.9% | -71.4% | -359.4% | -357.5% |
| ROA | -8.3% | -8.3% | -6.0% | -46.7% | -65.4% | -66.9% | -52.5% | -42.0% | -51.4% | -130.9% | -168.7% |
| ROIC | -1.6% | -1.6% | -7.3% | -60.9% | -86.7% | -108.0% | -67.4% | -45.5% | -77.0% | -871.6% | -404.4% |
| ROCE | -1.7% | -1.7% | -8.1% | -71.0% | -86.6% | -89.7% | -68.4% | -53.6% | -73.4% | -243.4% | -232.8% |
HRTX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $112M ($141M total debt minus $29M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 9.81 | 9.81 | — | — | 11.60 | 2.06 | 0.10 | 0.05 | 0.01 | 0.22 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 7.81 | — | — | 10.47 | 0.89 | -0.34 | -0.13 | -0.07 | -0.88 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -1.91 | -28.60 | -70.60 | -90.39 | -120.02 | -143.13 | -68.84 | -49.42 | -64.16 |
HRTX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Heron Therapeutics, Inc.'s current ratio of 2.48x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 1.51x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 2.37x to 2.48x 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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.48 | 2.48 | 2.29 | 2.37 | 2.49 | 3.58 | 3.07 | 4.95 | 4.86 | 2.21 | 1.60 |
| Quick Ratio | 1.51 | 1.51 | 1.70 | 1.84 | 1.83 | 2.90 | 2.66 | 4.70 | 4.44 | 2.11 | 1.47 |
| Cash Ratio | 0.49 | 0.49 | 0.65 | 1.01 | 1.03 | 2.22 | 2.03 | 4.04 | 3.61 | 1.67 | 1.32 |
| Asset Turnover | — | 0.61 | 0.62 | 0.57 | 0.43 | 0.28 | 0.25 | 0.28 | 0.17 | 0.13 | 0.02 |
| Inventory Turnover | 0.45 | 0.45 | 0.73 | 1.55 | 1.01 | 0.95 | 0.86 | 2.47 | 0.70 | 0.45 | 0.01 |
| Days Sales Outstanding | — | 211.09 | 199.55 | 172.77 | 176.44 | 150.06 | 172.33 | 99.72 | 304.59 | 496.77 | 559.34 |
HRTX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Heron Therapeutics, 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 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| 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 | 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 | — | $167M | $152M | $138M | $109M | $98M | $91M | $82M | $73M | $54M | $38M |
Peer Comparison
Compare HRTX 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 |
|---|---|---|---|---|---|---|---|---|---|
 HRTXYou | $234M | -10.3 | — | — | 73.3% | -1.6% | -140.9% | -1.6% | — |
 PACB | $498M | -0.9 | — | — | 31.7% | -348.5% | -213.5% | -45.8% | — |
 PCRX | $930M | 147.8 | 9.9 | 6.8 | 79.4% | 4.6% | 1.0% | 2.3% | 3.7 |
 ACRS | $586M | -9.2 | — | — | 73.3% | -975.9% | -50.2% | -53.5% | — |
 JAZZ | $14B | -38.9 | 23.8 | 11.0 | 88.2% | 5.3% | -8.5% | 2.1% | 7.1 |
 MDGL | $12B | -41.6 | — | — | 94.1% | -31.3% | -42.5% | -29.4% | — |
 INVA | $2B | 6.9 | 8.1 | 9.9 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 PRGO | $2B | -1.1 | 7.4 | 11.1 | 35.1% | 8.1% | -39.3% | 3.7% | 5.8 |
 SUPN | $3B | -76.9 | 53.4 | 65.5 | 89.6% | -5.1% | -3.7% | -2.8% | 0.7 |
 HRMY | $2B | 11.6 | 5.6 | 5.2 | 77.2% | 24.0% | 20.8% | 42.0% | 1.0 |
 MCK | $92B | 29.2 | 18.7 | 17.6 | 3.5% | 1.2% | — | 540.6% | 1.5 |
| Healthcare Median | — | 22.3 | 14.5 | 18.5 | 64.0% | -5.2% | -33.7% | -11.2% | 3.3 |
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Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying HRTX stock.
What is Heron Therapeutics, Inc.'s P/E ratio?
Heron Therapeutics, Inc.'s current P/E ratio is -10.3x. The historical average is 20.2x.
What is Heron Therapeutics, Inc.'s ROE?
Heron Therapeutics, Inc.'s return on equity (ROE) is -140.9%. The historical average is -107.7%.
Is HRTX stock overvalued?
Based on historical data, Heron Therapeutics, Inc. is trading at a P/E of -10.3x. Compare with industry peers and growth rates for a complete picture.
What are Heron Therapeutics, Inc.'s profit margins?
Heron Therapeutics, Inc. has 73.3% gross margin and -1.6% operating margin.