Latest Ratios: P/E Ratio -0.6x · EV/EBITDA N/A · ROE -295.2%. (2020–2025 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 |
|---|---|---|---|---|---|---|---|
| Market Cap | $14M | $50M | $7M | $10M | $53M | — | — |
| Enterprise Value | $3M | $38M | $6M | $19M | $62M | — | — |
| P/E Ratio → | -0.60 | — | — | — | — | — | — |
| P/S Ratio | 11.68 | 40.32 | 53.80 | — | — | — | — |
| P/B Ratio | 7.03 | 4.78 | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 31.04 | 44.58 | — | — | — | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 95.7% | 95.7% | 100.0% | — | — | — | — |
| Operating Margin | -986.6% | -986.6% | -13216.3% | — | — | — | — |
| Net Profit Margin | -984.6% | -984.6% | -18392.6% | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | -295.2% | -295.2% | — | — | — | — | — |
| ROA | -129.1% | -129.1% | -607.8% | -800.9% | -669.6% | -261.7% | -112.6% |
| ROIC | — | — | — | — | — | — | — |
| ROCE | -295.8% | -295.8% | — | — | — | — | -352.8% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.05 | 0.05 | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.10 | — | — | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -37.01 | -37.01 | -100.75 | -23.27 | -18.35 | -20.68 | -1.95 |
Net cash position: cash ($12M) exceeds total debt ($525000)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 3.63 | 3.63 | 0.55 | 0.18 | 0.09 | 0.19 | 2.69 |
| Quick Ratio | 3.61 | 3.61 | 0.55 | 0.18 | 0.09 | 0.19 | 2.64 |
| Cash Ratio | 3.20 | 3.20 | 0.27 | 0.01 | 0.00 | 0.16 | 2.60 |
| Asset Turnover | — | 0.09 | 0.03 | — | — | — | — |
| Inventory Turnover | 0.80 | 0.80 | — | — | — | — | — |
| Days Sales Outstanding | — | 70.10 | 302.81 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $21M | $374400 | $86681 | $52134 | $52164 | $52164 |
Includes 30+ ratios · 6 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying ICU stock.
SeaStar Medical Holding Corporation's current P/E ratio is -0.6x. This places it at the 50th percentile of its historical range.
SeaStar Medical Holding Corporation's return on equity (ROE) is -295.2%. The historical average is -295.2%.
Based on historical data, SeaStar Medical Holding Corporation is trading at a P/E of -0.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
SeaStar Medical Holding Corporation has 95.7% gross margin and -986.6% operating margin.
Key Metrics
Top Statement Risk
Clinical trial funding dependency
Metrics are mathematically derived from official filings.
Speculative Valuation Reflects Binary Outcomes
According to recent market data, ICU trades at a price-to-sales ratio of 99.07, a figure that suggests investors are pricing in significant future growth potential rather than current operational performance, as the company remains in a pre-profit stage of its medical device commercialization lifecycle.
The extreme P/S multiple indicates that the market is valuing the company as a high-stakes option on the success of the NEUTRALIZE-AKI trial rather than a traditional medical device manufacturer. Investors should note that this valuation is highly sensitive to regulatory milestones, and any delay in adult PMA approval could lead to a rapid compression of these multiples.
Working Capital Cycles Remain Highly Erratic
Based on reported figures, the company's cash conversion cycle has shown extreme volatility, reaching -1473 days in 2026Q1, which reflects the significant challenges of managing inventory and accounts payable while the firm is still in the early stages of scaling its pediatric SCD cartridge sales.
The massive negative CCC is primarily driven by an exceptionally high days-payable-outstanding figure, suggesting that the company is relying on extended payment terms with suppliers to preserve cash. This strategy warrants further investigation, as it may indicate limited bargaining power or a reliance on vendor goodwill that could be tested if liquidity tightens.
Liquidity Buffer Remains Highly Fragile
As reported in financial statements, ICU's current ratio of 2.73 in 2026Q1 represents a notable improvement from historical lows, yet the absolute cash position remains insufficient to support the company's high burn rate without continued access to dilutive equity markets for ongoing clinical development.
While the current ratio appears healthy on the surface, it is heavily influenced by the timing of capital raises rather than operational cash generation. Investors should monitor the cash runway closely, as the company's reliance on external financing makes it uniquely vulnerable to shifts in investor sentiment toward pre-commercial biotechnology firms.
Misapplication of Traditional Profitability Metrics
Based on the provided financial data, the most commonly misapplied metric for ICU is the P/E ratio, which obscures the company's true economic reality by focusing on accounting losses that are driven by necessary R&D investment rather than operational inefficiency or a lack of product-market fit.
Using P/E or EV/EBITDA to evaluate a firm in the midst of a pivotal clinical trial is fundamentally flawed because these metrics penalize the very R&D spending required to create future value. Analysts should instead focus on the burn-to-milestone ratio, which provides a more accurate assessment of the company's ability to reach commercialization before exhausting its capital reserves.