Nektar Therapeutics (NKTR) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
30Y Low8.6·High8.6
P/FCF
N/A
—
5yr avg: N/A
30Y Low5.4·High45.4
P/B Ratio
↑
15.98
↑+378% vs avg
5yr avg: 3.34
30Y Low0.8·High106.0
ROE
↓
-217.9%
↑-87% vs avg
5yr avg: -116.6%
30Y Low-380%·High75%
Debt/EBITDA
N/A
—
5yr avg: N/A
30Y Low0.4·High0.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NKTR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Nektar Therapeutics currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.7B | $713M | $191M | $107M | $423M | $2.5B | $3.0B | $3.8B | $5.9B | $9.3B | $1.7B |
| Enterprise Value | $1.7B | $784M | $250M | $190M | $466M | $2.6B | $3.0B | $4.1B | $6.0B | $9.6B | $1.9B |
| P/E Ratio → | -8.75 | — | — | — | — | — | — | — | 8.70 | — | — |
| P/S Ratio | 30.28 | 12.91 | 1.94 | 1.19 | 4.59 | 24.30 | 19.85 | 32.96 | 4.96 | 30.27 | 10.35 |
| P/B Ratio | 15.98 | 7.94 | 3.15 | 0.82 | 1.15 | 3.64 | 2.82 | 2.69 | 3.45 | 106.04 | 19.44 |
| P/FCF | — | — | — | — | — | — | — | — | 8.41 | — | — |
| P/OCF | — | — | — | — | — | — | — | — | 8.24 | — | — |
P/E links to full P/E history page with 30-year chart
NKTR EV Ratios
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 | — | 14.19 | 2.54 | 2.11 | 5.06 | 25.46 | 19.54 | 35.68 | 5.00 | 31.05 | 11.50 |
| EV / EBITDA | — | — | — | — | — | — | — | — | 8.57 | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | 8.23 | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | 8.48 | — | — |
NKTR Profitability
Margins and return-on-capital ratios measuring operating efficiency
Nektar Therapeutics earns an operating margin of -253.7%. Operating margins have compressed from -152.5% to -253.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -217.9% indicates the company is currently destroying shareholder equity.
Margins
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 | — | — | 68.8% | 59.3% | 76.5% | 75.6% | 87.3% | 81.4% | 98.0% | 90.1% | 81.7% |
| Operating Margin | -253.7% | -253.7% | -106.9% | -152.5% | -261.0% | -437.8% | -248.5% | -383.9% | 57.6% | -19.4% | -68.2% |
| Net Profit Margin | -297.1% | -297.1% | -120.9% | -306.3% | -400.0% | -514.0% | -290.6% | -384.5% | 57.1% | -31.4% | -92.8% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -217.9% | -217.9% | -124.1% | -110.9% | -70.4% | -59.6% | -35.8% | -28.2% | 75.5% | -109.9% | -324.7% |
| ROA | -56.2% | -56.2% | -33.9% | -49.8% | -40.3% | -39.4% | -25.3% | -21.4% | 51.2% | -17.9% | -28.7% |
| ROIC | -75.2% | -75.2% | -47.5% | -33.1% | -29.8% | -36.6% | -20.8% | -18.9% | 49.2% | -14.8% | -35.6% |
| ROCE | -59.7% | -59.7% | -35.7% | -27.8% | -28.7% | -36.3% | -24.9% | -23.8% | 54.6% | -12.6% | -24.1% |
NKTR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Net debt stands at $71M ($86M total debt minus $15M cash).
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.95 | 0.95 | 1.69 | 0.90 | 0.36 | 0.21 | 0.14 | 0.29 | 0.14 | 2.79 | 2.82 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | 0.35 | — | — |
| Net Debt / Equity | — | 0.79 | 0.96 | 0.63 | 0.12 | 0.17 | -0.05 | 0.22 | 0.03 | 2.74 | 2.14 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | 0.07 | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | 0.07 | — | — |
| Interest Coverage | — | — | -3.74 | -5.42 | -8.31 | -9.43 | -10.24 | -9.49 | 16.08 | -1.46 | -2.68 |
NKTR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Nektar Therapeutics's current ratio of 4.97x 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 6.45x to 4.97x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.97 | 4.97 | 4.26 | 6.45 | 8.00 | 9.34 | 9.83 | 4.02 | 17.53 | 5.82 | 5.90 |
| Quick Ratio | 4.97 | 4.97 | 4.26 | 6.14 | 7.72 | 9.15 | 9.70 | 3.98 | 17.39 | 5.63 | 5.75 |
| Cash Ratio | 4.59 | 4.59 | 4.16 | 5.92 | 7.40 | 8.61 | 9.17 | 3.74 | 16.28 | 5.27 | 5.39 |
| Asset Turnover | — | 0.20 | 0.32 | 0.23 | 0.13 | 0.09 | 0.10 | 0.06 | 0.55 | 0.60 | 0.29 |
| Inventory Turnover | — | — | — | 2.28 | 1.13 | 1.58 | 1.27 | 1.69 | 2.14 | 2.85 | 2.72 |
| Days Sales Outstanding | — | — | 5.97 | 9.12 | 33.32 | 80.56 | 92.83 | 117.20 | 13.22 | 5.95 | 34.59 |
NKTR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Nektar Therapeutics 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 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | 11.5% | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | 11.9% | — | — |
| Buyback Yield | 0.0% | 0.0% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 1.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $17M | $14M | $13M | $12M | $12M | $12M | $12M | $12M | $10M | $9M |
Peer Comparison
Compare NKTR 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 |
|---|---|---|---|---|---|---|---|---|---|
 NKTRYou | $2B | -8.7 | — | — | — | -253.7% | -217.9% | -75.2% | — |
 HALO | $8B | 25.9 | 8.5 | 12.1 | 78.1% | 58.4% | 153.6% | 73.4% | — |
 ARWR | $11B | -6486.9 | 91.8 | 70.6 | 97.1% | 11.9% | -0.5% | 9.3% | 3.0 |
 ALNY | $40B | 130.0 | 71.9 | 86.9 | 81.8% | 13.5% | 73.3% | 33.4% | 2.3 |
 IONS | $13B | -32.3 | — | — | 98.3% | -40.5% | -70.7% | -12.8% | — |
 EXEL | $12B | 17.5 | 13.4 | 14.7 | 96.4% | 37.6% | 35.5% | 32.1% | 0.2 |
 INCY | $20B | 15.6 | 11.8 | 14.7 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
 RCUS | $3B | -7.9 | — | — | 96.0% | -156.3% | -63.3% | -64.1% | — |
 IMVT | $6B | -10.5 | — | — | — | — | -62.5% | — | — |
 CLDX | $2B | -8.8 | — | — | 100.0% | -19160.0% | -40.6% | -35.2% | — |
 AGEN | $137M | -1144.1 | — | — | 90.3% | -18.0% | — | — | — |
| Healthcare Median | — | 22.2 | 14.1 | 18.6 | 64.1% | -5.3% | -34.0% | -11.2% | 3.1 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying NKTR stock.
What is Nektar Therapeutics's P/E ratio?
Nektar Therapeutics's current P/E ratio is -8.7x. The historical average is 8.7x.
What is Nektar Therapeutics's ROE?
Nektar Therapeutics's return on equity (ROE) is -217.9%. The historical average is -81.5%.
Is NKTR stock overvalued?
Based on historical data, Nektar Therapeutics is trading at a P/E of -8.7x. Compare with industry peers and growth rates for a complete picture.
What are Nektar Therapeutics's profit margins?
Nektar Therapeutics has -253.7% operating margin.