Latest Ratios: P/E Ratio -2.0x · EV/EBITDA N/A · ROE -68.8%. (1999–2025 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 | $15M | $23M | $28M | $48M | $22M | $73M | $68M | $131M | $106M | $37M | $288M |
| Enterprise Value | $-1182304 | $7M | $9M | $33M | $18M | $42M | $59M | $88M | $44M | $32M | $280M |
| P/E Ratio → | -1.98 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 12.07 | — | 4.24 | 14.63 | 6.32 | 58.55 | 146.12 | 615.87 | 514.33 | 202.43 | — |
| P/B Ratio | 0.81 | 1.36 | 1.50 | 3.45 | 1.13 | 1.65 | 2.49 | 2.98 | 1.79 | 10.13 | 46.56 |
| 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 | — | — | 1.33 | 10.07 | 5.13 | 34.00 | 126.64 | 412.20 | 214.58 | 174.44 | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | 760317.92 | 1041221.40 |
| 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 | — | — | -104.3% | -214.6% | -240.6% | -154.7% | -3944.9% | -5887.4% | -60095.0% | -2768.4% | — |
| Operating Margin | — | — | -168.7% | -440.4% | -563.3% | -3179.3% | -6188.3% | -10567.3% | -71930.3% | -6271.0% | — |
| Net Profit Margin | — | — | -162.8% | -248.8% | -851.9% | -3372.7% | -6149.7% | -10050.9% | -71826.4% | -5999.0% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -68.8% | -68.8% | -65.8% | -49.0% | -94.1% | -117.4% | -80.4% | -41.4% | -469.7% | -223.1% | -39.7% |
| ROA | -59.2% | -59.2% | -54.8% | -32.0% | -58.4% | -73.6% | -62.4% | -39.5% | -439.5% | -167.6% | -33.7% |
| ROIC | -20410.9% | -20410.9% | — | -152.1% | -102.6% | -186.5% | -229.1% | — | — | — | — |
| ROCE | -72.9% | -72.9% | -68.2% | -71.7% | -48.3% | -83.6% | -69.1% | -43.4% | -470.4% | -233.3% | -137.3% |
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 | — | — | — | — | 0.39 | 0.27 | 0.45 | 0.01 | — | 0.00 | 0.00 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | 119.05 | 18.59 |
| Net Debt / Equity | — | -0.96 | -1.03 | -1.08 | -0.21 | -0.69 | -0.33 | -0.98 | -1.04 | -1.40 | -1.27 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | -122006.88 | -29168.19 |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($16M) exceeds total debt ($0)
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 | 8.39 | 8.39 | 6.36 | 5.57 | 2.14 | 3.56 | 3.81 | 22.83 | 22.11 | 3.40 | 4.56 |
| Quick Ratio | 8.39 | 8.39 | 6.36 | 5.89 | 2.14 | 3.56 | 3.81 | 22.83 | 22.11 | 3.40 | 4.56 |
| Cash Ratio | 7.07 | 7.07 | 5.54 | 4.91 | 1.51 | 3.28 | 3.34 | 22.03 | 22.02 | 3.37 | 4.52 |
| Asset Turnover | — | — | 0.30 | 0.19 | 0.10 | 0.02 | 0.01 | 0.00 | 0.00 | 0.04 | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | 129.96 | 113.30 | 249.53 | 0.07 | 782.38 | 96.20 | 191.68 | — | — |
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% | 0.0% | 0.0% | 0.0% | 0.1% | 0.8% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 0.8% | 0.0% |
| Shares Outstanding | — | $15M | $9M | $9M | $8M | $8M | $5M | $5M | $2M | $945348 | $7M |
Includes 30+ ratios · 27 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 MRKR stock.
Marker Therapeutics, Inc.'s current P/E ratio is -2.0x. This places it at the 50th percentile of its historical range.
Marker Therapeutics, Inc.'s return on equity (ROE) is -68.8%. The historical average is -125.0%.
Based on historical data, Marker Therapeutics, Inc. is trading at a P/E of -2.0x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Key Metrics
Top Statement Risk
Clinical Trial Funding Dependency
Metrics are mathematically derived from official filings.
Negative Returns Reflect Capital Intensity
As reported in recent financial statements, Marker Therapeutics has consistently posted negative ROIC figures, with a notable -42.0% return in 2025Q1, underscoring the company's inability to generate productive returns on invested capital while its MultiTAA platform remains in the high-cost, pre-revenue clinical development phase.
The persistent negative ROIC is a structural byproduct of the company's R&D-heavy business model, where capital is deployed into clinical trials rather than revenue-generating assets. Investors should monitor whether the company can achieve a pivot toward positive returns as it moves closer to potential commercialization, though current trends suggest that capital efficiency remains secondary to trial progression.
Working Capital Volatility Hinders Efficiency
Based on reported figures, the company's asset turnover has remained extremely low, often below 0.10, which reflects the lack of commercial operations and the significant accumulation of non-productive assets required to support the complex logistics of its ongoing clinical trial programs.
The erratic nature of the company's DSO, which spiked to 619 in 2025Q1, suggests significant friction in the clinical trial billing and reimbursement cycle. This inefficiency highlights the operational challenges inherent in managing specialized biological material, which may continue to weigh on the company's cash conversion cycle until a more standardized manufacturing process is implemented.
Liquidity Position Remains Highly Precarious
According to quarterly filings, the company's current ratio has fluctuated wildly, reaching 4.79 in 2026Q1, yet this metric remains misleading as it is heavily influenced by the rapid depletion of cash reserves required to fund the company's ongoing, high-burn clinical development activities.
While the current ratio appears superficially healthy, the lack of recurring revenue means that liquidity is entirely dependent on the timing of equity raises and grant funding. Any delay in clinical milestones could rapidly erode this liquidity, leaving the company with little buffer to manage its fixed operational costs.
Misapplication of Traditional Valuation Multiples
As indicated by the company's negative P/E and lack of EBITDA, traditional valuation multiples are fundamentally misapplied to Marker Therapeutics, as they fail to capture the option-value nature of its clinical-stage pipeline and the binary risk associated with FDA approval outcomes.
Investors often err by attempting to apply P/E or EV/EBITDA ratios to MRKR, which obscures the reality that the company's value is derived from the probability-weighted NPV of its lead assets rather than current earnings. A more appropriate analytical framework would focus on cash runway and clinical milestone achievement rather than standard valuation metrics.