Latest Ratios: P/E Ratio -0.3x · EV/EBITDA N/A · ROE -63.6%. (2021–2024 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Market Cap | $35M | $55M | $99M | — | — |
| Enterprise Value | $-72057249 | $-52844900 | $-157039739 | — | — |
| P/E Ratio → | -0.27 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 0.25 | 0.39 | 0.37 | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — |
| Operating Margin | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| ROE | -63.6% | -63.6% | -171.3% | — | — |
| ROA | -54.6% | -54.6% | -123.7% | -551.3% | -499.7% |
| ROIC | -505.4% | -505.4% | -5118.5% | -5378.8% | -1770.9% |
| ROCE | -66.5% | -66.5% | -146.9% | — | -9413.0% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | — | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.76 | -0.97 | — | — |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — |
Net cash position: cash ($115M) exceeds total debt ($8M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Current Ratio | 5.84 | 5.84 | 9.56 | 0.12 | 0.13 |
| Quick Ratio | 5.84 | 5.84 | 9.56 | 0.12 | 0.13 |
| Cash Ratio | 5.51 | 5.51 | 9.33 | — | — |
| 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 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $17M | $17M | $17M | $17M |
Clinical trial funding exhaustion
As reported in financial statements, Mural Oncology trades at a price-to-book ratio of 0.25, which suggests that the market is heavily discounting the firm's asset base due to the high-risk nature of its clinical-stage pipeline and the absence of any near-term commercial revenue streams.
The current P/B multiple indicates that investors are pricing the company well below its liquidation value, likely reflecting a lack of confidence in the current clinical trial outcomes. This valuation gap warrants further investigation into whether the market is mispricing the potential of the nemvaleukin alfa platform compared to its peers.
Based on Mural Oncology's reported figures, the company's ROIC has deteriorated significantly, reaching -125.6% in 2025Q1, which underscores the extreme inefficiency of capital deployment as the firm continues to fund late-stage clinical trials without generating any offsetting returns on invested capital.
The rapid decay in ROIC appears to be a direct consequence of the high fixed costs associated with the ARTISTRY-7 trial program. Investors should monitor whether management can improve these returns through more disciplined capital allocation or if the current trajectory will continue to erode shareholder value.
According to recent SEC filings, Mural Oncology's current ratio has fluctuated significantly, dropping from 11.27 in 2024Q1 to 5.90 in 2025Q3, which indicates a shrinking liquidity buffer that may limit the company's operational flexibility as it approaches critical data readout milestones.
While the current ratio remains above 1.0, the rapid decline suggests that the company's cash reserves are being consumed at an unsustainable rate. This trend may indicate that the firm will need to seek additional dilutive financing sooner than the market currently anticipates.
As reported in financial statements, Mural Oncology's negative ROE of -6.5% in 2025Q3 highlights a structural lag compared to established peers like Halozyme, which maintains a positive ROE of 126.3%, reflecting the fundamental difference between a commercial-stage entity and a pre-revenue clinical-stage firm.
The gap between Mural and its peers appears to be driven by the lack of commercialized products, which prevents the company from achieving the economies of scale seen in more mature biotech firms. This comparison suggests that Mural's valuation will remain highly sensitive to clinical trial success rather than operational efficiency.
Based on the company's reported figures, the price-to-book ratio is the most commonly misapplied metric for Mural Oncology, as it fails to capture the intangible value of the firm's proprietary protein engineering and the potential future cash flows from its clinical-stage oncology pipeline.
Using P/B to value a pre-revenue biotech firm obscures the true economic potential of its R&D assets, which are not fully reflected on the balance sheet. Analysts should instead focus on risk-adjusted net present value models or cash runway duration to better assess the company's long-term viability.
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Quick answers to the most common questions about buying MURA stock.
Mural Oncology plc's current P/E ratio is -0.3x. This places it at the 50th percentile of its historical range.
Mural Oncology plc's return on equity (ROE) is -63.6%. The historical average is -117.5%.
Based on historical data, Mural Oncology plc 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.