Mersana Therapeutics, Inc. (MRSN) Financial Ratios
10 years of historical data (2015–2024) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↑
N/A
—
5yr avg: 6.01
30Y Low3.2·High10.7
ROE
↓
-505.1%
↑-126% vs avg
5yr avg: -223.4%
30Y Low-266%·High-57%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MRSN Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Mersana Therapeutics, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $145M | $175M | $269M | $549M | $439M | $1.6B | $249M | $94M | $370M | — | — |
| Enterprise Value | $66M | $96M | $129M | $456M | $299M | $1.4B | $195M | $34M | $344M | — | — |
| P/E Ratio → | -2.06 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 3.59 | 4.33 | 7.31 | 20.65 | 10209.62 | 1975.99 | 5.92 | 8.87 | 21.10 | — | — |
| P/B Ratio | — | — | 7.30 | 5.96 | 3.61 | 7.17 | 3.18 | 10.68 | 5.29 | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
MRSN EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 2.37 | 3.49 | 17.16 | 6959.13 | 1688.03 | 4.62 | 3.24 | 19.58 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
MRSN Profitability
Margins and return-on-capital ratios measuring operating efficiency
Mersana Therapeutics, Inc. earns an operating margin of -181.1%. Operating margins have expanded from -766.6% to -181.1% over the past 3 years, signaling improving operational efficiency. A negative ROE of -505.1% indicates the company is currently destroying shareholder equity.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | -7996.1% | 100.0% | -465.6% | 94.7% | -27.2% | -106.1% |
| Operating Margin | -181.1% | -181.1% | -463.9% | -766.6% | -392693.0% | -18737.4% | -71.7% | -619.7% | -225.8% | -54.9% | -157.7% |
| Net Profit Margin | -170.9% | -170.9% | -465.8% | -768.3% | -395488.4% | -10633.5% | -67.0% | -606.5% | -220.6% | -54.4% | -158.6% |
Return on Capital
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -505.1% | -505.1% | -266.2% | -191.0% | -97.2% | -57.5% | -64.8% | -163.1% | -538.5% | — | — |
| ROA | -37.3% | -37.3% | -61.3% | -75.6% | -70.9% | -46.2% | -30.3% | -61.4% | -32.8% | -22.9% | -114.0% |
| ROIC | — | — | — | — | — | -1738.1% | — | — | — | — | — |
| ROCE | -60.0% | -60.0% | -84.4% | -101.5% | -84.0% | -94.9% | -65.3% | -121.7% | -45.1% | -34.4% | -444.8% |
MRSN Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $108M exceeds total debt of $29M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.92 | 0.39 | 0.31 | 0.07 | 0.10 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | -3.81 | -1.01 | -1.15 | -1.05 | -0.70 | -6.78 | -0.38 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | -3.29 | — |
| Interest Coverage | -18.93 | -18.93 | -41.97 | -61.23 | -133.27 | -432.16 | -129.06 | — | — | — | — |
Net cash position: cash ($108M) exceeds total debt ($29M)
MRSN Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Mersana Therapeutics, Inc.'s current ratio of 2.19x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 3.49x to 2.19x over the past 3 years.
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.19 | 2.19 | 3.36 | 3.49 | 3.97 | 8.62 | 4.21 | 1.01 | 3.69 | 3.60 | 1.19 |
| Quick Ratio | 2.19 | 2.19 | 3.36 | 3.49 | 3.97 | 8.62 | 4.21 | 1.07 | 3.69 | 3.60 | 1.19 |
| Cash Ratio | 2.16 | 2.16 | 3.29 | 3.07 | 3.74 | 8.50 | 4.15 | 1.01 | 3.60 | 3.53 | 1.07 |
| Asset Turnover | — | 0.28 | 0.16 | 0.08 | 0.00 | 0.00 | 0.39 | 0.13 | 0.13 | 0.24 | 0.72 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | 411.95 | — | — | — | 15.81 | 16.31 | 15.24 | 22.55 |
MRSN Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Mersana Therapeutics, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.2% | 0.0% | — | — |
| Shares Outstanding | — | $5M | $5M | $4M | $3M | $2M | $2M | $921290 | $901173 | $699726 | $699726 |
Peer Comparison
Compare MRSN with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 MRSNYou | $145M | -2.1 | — | — | 100.0% | -181.1% | -505.1% | — | — |
 RCUS | $2B | -7.4 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
 SNDX | $2B | -5.8 | — | — | 96.0% | -158.4% | -161.8% | -54.2% | — |
 AGEN | $125M | -882.4 | — | — | 29.6% | -18.0% | — | — | — |
 TGTX | $8B | 19.2 | 67.4 | — | 83.7% | 20.0% | 102.8% | 16.4% | 2.1 |
 NKTR | $1B | -6.3 | — | — | 100.0% | -236.8% | -217.9% | -57.2% | — |
 ARVN | $495M | -6.0 | — | — | 98.0% | -43.8% | -16.2% | -22.4% | — |
 BCAB | $5M | -0.1 | — | — | 100.0% | -2965.3% | — | — | — |
 BYSI | $66M | -8.1 | — | — | — | — | — | — | — |
 PBYI | $385M | 12.4 | 8.0 | 9.2 | 74.5% | 16.3% | 28.0% | 24.7% | 0.6 |
 PFE | $143B | 18.5 | 10.3 | 15.8 | 70.3% | 24.7% | 8.9% | 7.5% | 3.3 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 10 years · Updated daily
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MRSN — Frequently Asked Questions
Quick answers to the most common questions about buying MRSN stock.
What is Mersana Therapeutics, Inc.'s P/E ratio?
Mersana Therapeutics, Inc.'s current P/E ratio is -2.1x. This places it at the 50th percentile of its historical range.
What is Mersana Therapeutics, Inc.'s ROE?
Mersana Therapeutics, Inc.'s return on equity (ROE) is -505.1%. The historical average is -140.0%.
Is MRSN stock overvalued?
Based on historical data, Mersana Therapeutics, Inc. is trading at a P/E of -2.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Mersana Therapeutics, Inc.'s profit margins?
Mersana Therapeutics, Inc. has 100.0% gross margin and -181.1% operating margin.