Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -131.6%. (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 | $10M | $40M | $41M | $16M | $30M | — | — | — | — | — | — |
| Enterprise Value | $-1857951 | $28M | $33M | $14M | $21M | — | — | — | — | — | — |
| P/E Ratio → | -0.32 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 0.36 | 2.36 | 3.59 | 3.11 | 3.39 | — | — | — | — | — | — |
| 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -131.6% | -131.6% | -210.3% | -199.5% | -492.8% | -920.4% | -113.8% | -47.1% | -23.5% | -19.3% | — |
| ROA | -115.7% | -115.7% | -166.0% | -162.4% | -308.1% | -241.6% | -101.2% | -46.2% | -23.1% | -7.8% | — |
| ROIC | -344.6% | -344.6% | -416.4% | -752.3% | -163356.2% | -11498.1% | -14725.8% | — | -2189.3% | — | — |
| ROCE | -127.7% | -127.7% | -188.3% | -183.3% | -381.4% | -683.0% | -110.6% | -47.8% | -23.7% | -2.4% | — |
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 | 0.05 | 0.05 | 0.10 | 0.30 | 0.02 | — | 0.09 | — | 0.00 | 0.02 | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.72 | -0.70 | -0.44 | -1.01 | — | -0.99 | -1.01 | -0.99 | -1.04 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -5.77 | -184.38 | — | — | — | -1.90 | -0.73 |
Net cash position: cash ($13M) exceeds total debt ($816000)
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 | 10.69 | 10.69 | 6.66 | 4.13 | 9.68 | 0.50 | 4.82 | 36.71 | 278.81 | 18.44 | — |
| Quick Ratio | 10.69 | 10.69 | 6.66 | 4.04 | 9.68 | 0.50 | 4.82 | 36.71 | 278.81 | 18.44 | — |
| Cash Ratio | 10.35 | 10.35 | 6.35 | 3.88 | 9.36 | 0.45 | 4.72 | 36.63 | 277.72 | 18.44 | — |
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $1M | $745900 | $362684 | $226924 | $207052 | $198497 | $184329 | $148181 | $38889 | $13887 |
Regulatory and liquidity dependency
According to current market data, MODD trades at a price-to-book ratio of 0.36, which suggests that investors are heavily discounting the company's asset base due to the absence of revenue and the significant binary risk associated with pending FDA 510(k) clearance for its insulin delivery platform.
The low P/B multiple reflects a market that is pricing the company as a distressed asset rather than a growth-stage medical device firm. Investors should note that without commercial revenue, traditional valuation multiples like P/E or EV/EBITDA are non-meaningful, leaving the stock's valuation entirely dependent on the perceived probability of regulatory success.
As reported in financial statements, the company's ROIC has consistently remained deeply negative, reaching -144.6% in 2026Q3, which highlights the substantial capital destruction inherent in funding long-term R&D and manufacturing infrastructure without any offsetting commercial revenue to generate a return on invested capital.
The persistent decay in ROIC is a direct consequence of the company's high-burn, pre-revenue business model. This trend warrants further investigation into whether the current capital allocation toward manufacturing infrastructure will eventually yield positive returns or if the company will continue to erode shareholder equity through ongoing operational losses.
Based on the provided quarterly data, the company's current ratio has deteriorated significantly from 10.69 in 2025Q4 to 1.59 in 2026Q3, reflecting a precarious liquidity position as cash reserves dwindle while the firm remains in a high-burn, pre-revenue state of operations that necessitates constant capital access.
The rapid decline in the current ratio suggests that the company's ability to cover short-term obligations is becoming increasingly constrained. Investors should monitor this trend closely, as any further delay in regulatory milestones could force the company to seek dilutive financing under potentially unfavorable market conditions.
As indicated by peer comparison data, MODD's negative ROE of -100.5% stands in stark contrast to Insulet's 21.4% ROE, illustrating the structural gap between a pre-commercial entity and an established market leader that has already achieved the scale necessary for profitable operations in the insulin pump sector.
While peers like Tandem and Insulet are valued on their ability to capture market share and optimize margins, MODD remains in a defensive posture. The gap in profitability metrics is not merely temporary but structural, reflecting the company's current lack of a commercialized product to compete with the established platforms of its peers.
Based on an analysis of the company's business model, the price-to-book ratio is the most commonly misapplied metric, as it obscures the reality that the firm's true value lies in its intellectual property and regulatory status rather than its tangible assets or manufacturing equipment.
Using P/B to value a pre-revenue medical device company is misleading because it ignores the high probability of future dilution and the intangible nature of the company's core value proposition. Analysts should instead focus on cash runway and regulatory milestones, which provide a more accurate assessment of the company's survival and potential for future commercial success.
Includes 30+ ratios · 19 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying MODD stock.
Modular Medical, Inc.'s current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Modular Medical, Inc.'s return on equity (ROE) is -131.6%. The historical average is -154.7%.
Based on historical data, Modular Medical, Inc. is trading at a P/E of -0.3x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.