Latest Ratios: P/E Ratio -9.4x · EV/EBITDA N/A · ROE -56.2%. (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 | $1.6B | — | — | — | — |
| Enterprise Value | $1.5B | — | — | — | — |
| P/E Ratio → | -9.37 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 3.29 | — | — | — | — |
| 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 | -56.2% | -56.2% | -83.2% | -120.9% | -143.8% |
| ROA | -52.3% | -52.3% | -68.0% | -85.2% | -76.2% |
| ROIC | -50.6% | -50.6% | -153.7% | — | — |
| ROCE | -57.9% | -57.9% | -83.9% | -110.7% | -116.6% |
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 | 0.06 | 0.08 | 0.30 |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.09 | -0.27 | -1.04 | -1.03 |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($47M) exceeds total debt ($6M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 20.01 | 20.01 | 7.20 | 5.69 | 2.54 |
| Quick Ratio | 20.01 | 20.01 | 7.20 | 5.69 | 2.54 |
| Cash Ratio | 18.80 | 18.80 | 6.83 | 5.43 | 2.20 |
| 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% | — | — | — | — |
| Total Shareholder Yield | 0.0% | — | — | — | — |
| Shares Outstanding | — | $44M | $41M | $41M | $41M |
Clinical Trial Funding Gap
As reported in financial statements, MPLT's ROIC plummeted to -12.6% in 2026Q1, reflecting a persistent inability to generate positive returns on invested capital as the company aggressively consumes equity to fund the late-stage development of its sonelokimab therapeutic candidate across multiple high-stakes clinical indications.
The consistent negative ROIC trend, which reached a low of -147.0% in 2024Q1, underscores the structural reality that capital is being deployed into intangible R&D assets rather than revenue-generating operations. Investors should monitor whether the recent stabilization in ROIC suggests a more disciplined approach to trial spending or merely the timing of milestone-based capital outflows.
Based on reported figures, MPLT's current ratio has contracted from 22.91 in 2026Q1 to significantly lower levels in prior periods, indicating that the company's liquidity buffer is rapidly depleting as it funds the intensive clinical trial requirements necessary to reach potential regulatory approval for its Nanobody platform.
While the current ratio appears superficially high, it masks the reality of a pre-revenue entity with no recurring cash inflows to offset its high fixed-cost burn. The lack of inventory or receivables means the quick ratio is identical to the current ratio, leaving the company entirely dependent on external financing to maintain its operational viability.
According to recent SEC filings, MPLT maintains a negligible debt-to-equity ratio of 0.01, which suggests that the company has avoided traditional credit markets in favor of equity-based financing to support its clinical development, thereby avoiding immediate interest coverage risks but increasing the potential for shareholder dilution.
The absence of significant debt is a standard feature for clinical-stage biotechs, yet it implies that the company lacks the financial flexibility to leverage its balance sheet during periods of market volatility. Investors should interpret this low leverage as a strategic choice to preserve equity control, though it leaves the firm highly vulnerable to equity market funding freezes.
As indicated by the financial data, the P/B ratio of 3.20 is a fundamentally flawed metric for evaluating MPLT, as it fails to capture the value of the company's core intellectual property and the probability-adjusted future cash flows associated with its sonelokimab clinical trial pipeline.
Using P/B to value a pre-revenue biotech obscures the reality that the firm's true assets are intangible and binary in nature. Analysts should instead utilize a probability-adjusted Net Present Value (rNPV) model, which accounts for the specific clinical success rates and market potential of the IL-17 inhibitor, rather than relying on historical accounting costs.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying MPLT stock.
MapLight Therapeutics, Inc.'s current P/E ratio is -9.4x. This places it at the 50th percentile of its historical range.
MapLight Therapeutics, Inc.'s return on equity (ROE) is -56.2%. The historical average is -101.0%.
Based on historical data, MapLight Therapeutics, Inc. is trading at a P/E of -9.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.