Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE -193.9%. (2014–2025 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 | $10M | $13M | $1.4B | $7.8B | $17.2B | $49.5B | $85.0B | $98.6B | $231.8B | $131.8B | — |
| Enterprise Value | $-21551989 | $-10266279 | $1.4B | $7.8B | $17.2B | $49.5B | $84.9B | $98.5B | $231.7B | $131.7B | — |
| P/E Ratio → | -0.15 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | 465756.63 | — |
| P/B Ratio | 0.18 | 0.55 | 237.25 | 523.67 | 447.62 | 755.83 | 856.90 | 1552.08 | 2841.12 | 1410.93 | — |
| 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 | — | — | — | — | — | — | — | — | — | 465450.25 | — |
| 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 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | 100.0% | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | -7860.8% | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | -8157.2% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -193.9% | -193.9% | -182.3% | -103.5% | -61.5% | -49.2% | -37.7% | -29.5% | -15.8% | -38.9% | -21.9% |
| ROA | -131.6% | -131.6% | -89.2% | -64.2% | -47.2% | -43.8% | -34.5% | -27.2% | -15.1% | -37.4% | -20.5% |
| ROIC | -20520.4% | -20520.4% | — | — | -2272.7% | -374.3% | -198.5% | -235.8% | -291.4% | -278.8% | -60.1% |
| ROCE | -129.1% | -129.1% | -214.7% | -121.2% | -83.5% | -54.8% | -40.2% | -36.6% | -25.2% | -37.5% | -30.6% |
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 | 0.03 | 0.03 | 0.03 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.97 | -1.10 | -1.13 | -1.07 | -0.91 | -0.87 | -0.81 | -0.94 | -0.93 | -0.79 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | -29.34 | — | — | — | — | — | — | — |
Net cash position: cash ($24M) exceeds total debt ($676000)
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 | 5.60 | 5.60 | 1.42 | 1.97 | 2.84 | 6.11 | 12.49 | 10.54 | 15.02 | 32.22 | 13.09 |
| Quick Ratio | 5.60 | 5.60 | 1.42 | 1.97 | 2.84 | 6.11 | 12.49 | 10.54 | 15.34 | 33.26 | 11.46 |
| Cash Ratio | 5.06 | 5.06 | 0.78 | 1.36 | 2.17 | 5.14 | 10.72 | 8.41 | 13.83 | 29.72 | 10.13 |
| Asset Turnover | — | — | — | — | — | — | — | — | — | 0.00 | — |
| 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 | 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% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $4M | $6M | $5M | $5M | $4M | $4M | $3M | $3M | $3M | $3M |
Limited clinical cash runway
As reported in financial statements, NuCana's price-to-book ratio of 0.18 suggests the market is pricing the company near its liquidation value, reflecting deep skepticism regarding the clinical pipeline's ability to generate future commercial returns following the discontinuation of the Acelarin program in recent periods.
The current P/B multiple indicates that investors are assigning negligible value to the company's intellectual property and ProTide platform. This valuation compression appears to be a direct consequence of the market discounting the firm's ability to successfully navigate the remaining clinical development phases without significant further dilution.
Based on reported figures, NuCana's ROIC has fluctuated significantly, reaching a low of -71.9% in 2025Q3, which underscores the company's inability to generate positive returns on invested capital while it continues to fund high-cost oncology research without any offsetting commercial revenue streams or product sales.
The erratic nature of these returns highlights the binary risk inherent in clinical-stage biotechnology, where capital is consumed to prove efficacy rather than to optimize operational margins. Investors should monitor whether the pivot to NUC-3373 can eventually stabilize these returns, though current trends suggest a continued decay in capital efficiency.
According to recent SEC filings, NuCana's current ratio has shown significant volatility, recently settling at 5.48, which masks the underlying reality that the company's cash reserves are being rapidly depleted by the high fixed costs associated with ongoing clinical trial operations and specialized research personnel.
While the current ratio appears superficially healthy, it is a misleading metric for a pre-revenue entity that lacks a sustainable source of cash inflow. The rapid depletion of liquid assets warrants further investigation into the company's ability to fund its clinical milestones without resorting to dilutive equity financing.
As disclosed in financial statements, the use of P/E ratios to evaluate NuCana is fundamentally flawed, as the company's negative earnings and lack of revenue render traditional valuation multiples meaningless for assessing the true economic potential of its proprietary ProTide technology and clinical-stage oncology pipeline.
Analysts often misapply earnings-based metrics to clinical-stage firms, which obscures the reality that value is driven by clinical data readouts rather than current operational profitability. A more appropriate framework would involve probability-weighted net present value analysis of the pipeline candidates, rather than relying on historical accounting losses.
Includes 30+ ratios · 12 years · Updated daily
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Quick answers to the most common questions about buying NCNA stock.
NuCana plc's current P/E ratio is -0.2x. This places it at the 50th percentile of its historical range.
NuCana plc's return on equity (ROE) is -193.9%. The historical average is -65.6%.
Based on historical data, NuCana plc is trading at a P/E of -0.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.