Last 44 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -26.87 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 195.71 | 171.71 | 124.74 | 29.66 | 82.01 | 80.63 | 133.68 | 89.44 | 49.10 | 30.43 | 33.13 | 17.12 | 17.98 |
| — | +112.9% | -6.7% | -66.8% | +67.0% | +165.0% | +303.5% | +422.4% | +173.1% | -11.4% | +62.4% | -37.2% | -28.0% | |
| P/B Ratio | 8.92 | 10.77 | 4.44 | 4.87 | 4.47 | 4.85 | 4.90 | 7.48 | 4.46 | 3.23 | 4.94 | 3.92 | 2.90 |
| — | +122.1% | -9.3% | -34.9% | +0.1% | +50.2% | -0.9% | +91.0% | +53.9% | +4.6% | +63.4% | +1.4% | -29.0% | |
| P/FCF | — | — | — | — | — | — | 220.09 | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Merus N.V.'s operating margin was -794.1% in Q3 2025, up 455.9 pp QoQ and down 180.5 pp YoY. The trailing four-quarter average of -825.0% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin expanded 142.1% YoY, indicating pricing power or improving input costs.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 37.2% | 94.7% | -964.0% | -202.5% | 7.8% | 39.1% | -569.9% | -389.1% | 69.4% | 73.2% | -170.1% | -158.3% | -359.8% |
| — | +142.1% | -69.1% | +48.0% | -88.8% | -46.5% | -235.0% | -145.8% | +119.3% | +113.5% | -17.2% | -20.4% | -339.5% | |
| Operating Margin | -753.0% | -794.1% | -1250.0% | -285.9% | -969.9% | -613.6% | -878.0% | -593.3% | -531.8% | -347.8% | -323.5% | -272.3% | -503.1% |
| — | -29.4% | -42.4% | +51.8% | -82.4% | -76.4% | -171.4% | -117.9% | -5.7% | +52.5% | -31.9% | -17.2% | -223.7% | |
| Net Margin | -595.9% | -786.2% | -1792.2% | -364.2% | -338.3% | -848.7% | -682.5% | -436.8% | -672.9% | -208.6% | -305.8% | -294.4% | -768.5% |
| — | +7.4% | -162.6% | +16.6% | +49.7% | -306.9% | -123.2% | -48.4% | +12.4% | +44.2% | -578.8% | -81.6% | -683.9% |
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -41.4% | -10.8% | -18.7% | -14.3% | -4.4% | -12.4% | -8.5% | -9.0% | -14.5% | -6.7% | -12.4% | -15.8% | -28.1% |
| — | +12.3% | -119.2% | -58.4% | +69.6% | -85.0% | +31.1% | +42.6% | +48.2% | +16.7% | -607.2% | -183.4% | -477.8% | |
| ROA | -33.5% | -9.3% | -15.7% | -11.8% | -3.7% | -10.3% | -6.7% | -6.7% | -11.5% | -5.1% | -8.4% | -10.2% | -19.3% |
| — | +9.9% | -133.6% | -76.2% | +68.0% | -103.1% | +19.6% | +34.9% | +40.7% | +12.9% | -561.0% | -162.3% | -520.2% | |
| ROIC | -74.6% | -16.1% | -17.2% | -13.6% | -19.9% | -23.8% | -29.0% | -18.8% | -19.7% | -16.4% | -15.7% | -21.1% | -32.2% |
| — | +32.3% | +40.8% | +27.7% | -0.6% | -45.2% | -84.8% | +11.0% | +38.6% | +45.2% | +18.1% | -6.2% | -38.0% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
| Metric | TTM | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 | Q1 '23 | Q4 '22 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.01 | 0.02 | 0.02 | 0.02 | 0.01 | 0.03 | 0.03 | 0.03 | 0.05 | 0.06 | 0.05 |
| — | +1.2% | -11.5% | -49.9% | -55.2% | -49.0% | -70.3% | -45.5% | -37.4% | -30.0% | +19.0% | +435.5% | +359.7% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 6.54 | 7.97 | 8.39 | 5.86 | 6.54 | 8.32 | 9.97 | 5.23 | 5.34 | 6.29 | 4.30 | 3.44 | 3.88 |
| — | -4.2% | -15.9% | +12.1% | +22.4% | +32.2% | +132.0% | +52.0% | +37.5% | +9.7% | -35.0% | -44.3% | -34.2% | |
| Quick Ratio | 6.54 | 7.97 | 8.39 | 5.86 | 6.54 | 8.32 | 9.97 | 5.23 | 5.34 | 6.13 | 4.11 | 3.32 | 3.88 |
| — | -4.2% | -15.9% | +12.1% | +22.4% | +35.6% | +142.4% | +57.5% | +37.5% | +10.7% | -35.3% | -44.0% | -34.2% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 44 years · Updated daily
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Start ComparisonMerus N.V.'s current P/E is -26.9x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Merus N.V.'s current operating margin is -753.0%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Merus N.V.'s business trajectory between earnings reports.