Latest Ratios: P/E Ratio -32.6x · EV/EBITDA N/A · ROE -24.4%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $936M | $563M | — | — | — |
| Enterprise Value | $689M | $317M | — | — | — |
| P/E Ratio → | -32.64 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 2.74 | 1.87 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — |
| Operating Margin | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -24.4% | -24.4% | — | — | — |
| ROA | -14.5% | -14.5% | -159.4% | -18.7% | -66.8% |
| ROIC | -41.7% | -41.7% | — | — | — |
| ROCE | -18.4% | -18.4% | -189.4% | -35.5% | -13.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.82 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | -0.30 | -5.67 |
Net cash position: cash ($250M) exceeds total debt ($4M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 41.44 | 41.44 | 3.56 | 17.51 | 45.82 |
| Quick Ratio | 41.44 | 41.44 | 3.56 | 17.51 | 45.82 |
| Cash Ratio | 39.67 | 39.67 | 3.45 | 16.61 | 45.64 |
| Asset Turnover | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $25M | $4M | $4M | $4M |
Clinical trial execution burn
Based on reported financial data, LBRX trades at a price-to-book ratio of 2.68, a valuation that appears to reflect investor optimism regarding the potential of LB-102 rather than any tangible asset backing or current earnings generation, which remains deeply negative at -31.92 P/E TTM.
The current valuation is entirely untethered from traditional earnings-based metrics, as the company remains a pre-revenue clinical-stage entity. Investors should monitor whether this premium holds as the company approaches critical Phase 3 data readouts, which will likely serve as the primary catalyst for re-rating the stock relative to its neuropsychiatric peers.
As reported in recent financial statements, the company's ROIC has deteriorated to -28.5% in 2026Q1, a trend that highlights the significant capital destruction inherent in funding high-cost clinical trials without a corresponding revenue stream to offset the substantial research and development expenditures.
The persistent negative return on capital is a structural feature of the current business model rather than an operational failure. This trend suggests that capital efficiency will remain elusive until the lead candidate achieves regulatory approval and commercialization, at which point the focus must shift toward margin expansion.
According to the company's 2026Q1 filings, the current ratio of 35.68 indicates an exceptionally strong liquidity position, providing a substantial cash cushion that appears sufficient to fund operations through the next several quarters of intensive clinical development and patient enrollment activities.
This high liquidity ratio is a direct result of the recent capital infusion, which has effectively insulated the company from immediate financing risks. However, investors should remain cautious, as this liquidity is rapidly being consumed by the escalating burn rate associated with late-stage trial requirements.
Based on the provided balance sheet data, LBRX maintains a negligible debt-to-equity ratio of 0.01, suggesting that the company has successfully avoided the burden of interest-bearing liabilities while relying exclusively on equity financing to support its ongoing neuropsychiatric research pipeline.
The absence of debt is a strategic advantage that provides management with significant flexibility, as there are no restrictive covenants or mandatory interest payments to impede clinical progress. This clean balance sheet structure is essential for a company that currently lacks the operating cash flow to service traditional debt obligations.
The most commonly misapplied metric for this business model is the P/E ratio, which obscures the company's true value by focusing on negative earnings that are a byproduct of necessary R&D investment rather than a reflection of poor operational performance or long-term viability.
Investors should instead prioritize the cash burn-to-milestone ratio or the probability-adjusted net present value of the lead candidate, LB-102. Relying on P/E multiples in this context is fundamentally flawed, as it penalizes the company for the very R&D spending that is required to create future value.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying LBRX stock.
LB Pharmaceuticals Inc Common Stock's current P/E ratio is -32.6x. This places it at the 50th percentile of its historical range.
LB Pharmaceuticals Inc Common Stock's return on equity (ROE) is -24.4%. The historical average is -24.4%.
Based on historical data, LB Pharmaceuticals Inc Common Stock is trading at a P/E of -32.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.