Latest Ratios: P/E Ratio -3.7x · EV/EBITDA N/A · ROE -53.5%. (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 | $1.3B | $974M | $1.2B | $2.7B | $2.7B | $8.4B | $3.0B | $693M | $588M | $692M | $454M |
| Enterprise Value | $1.2B | $912M | $1.2B | $2.6B | $2.3B | $8.3B | $2.9B | $654M | $529M | $351M | $181M |
| P/E Ratio → | -3.73 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 24.08 | 14.40 | 19.91 | 74.61 | 51.53 | 253.61 | 52.52 | 16.08 | 19.32 | 26.50 | 27.54 |
| P/B Ratio | 1.83 | 1.45 | 1.32 | 2.58 | 2.17 | 8.06 | 5.78 | 2.57 | 2.12 | 2.30 | 2.16 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | 15.16 |
| P/OCF | — | — | — | — | — | — | — | — | — | — | 12.57 |
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 | — | 13.48 | 20.28 | 71.54 | 43.99 | 252.11 | 50.44 | 15.18 | 17.38 | 13.45 | 10.97 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | 6.04 |
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 | 76.5% | 76.5% | 82.2% | 75.3% | 85.5% | 79.2% | -159.4% | -151.5% | -192.8% | -159.0% | -93.2% |
| Operating Margin | -651.7% | -651.7% | -923.1% | -1420.5% | -879.0% | -810.4% | -235.5% | -246.8% | -298.6% | -266.3% | -195.2% |
| Net Profit Margin | -609.9% | -609.9% | -896.8% | -1326.5% | -909.8% | -810.5% | -231.5% | -230.9% | -280.4% | -258.6% | -192.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -53.5% | -53.5% | -54.0% | -42.1% | -41.7% | -34.2% | -33.7% | -36.3% | -29.5% | -26.5% | -22.8% |
| ROA | -40.6% | -40.6% | -41.7% | -34.1% | -33.7% | -27.2% | -26.6% | -29.2% | -23.6% | -20.0% | -16.6% |
| ROIC | -44.0% | -44.0% | -43.8% | -43.4% | -37.5% | -28.8% | -32.1% | -35.4% | -76.2% | — | — |
| ROCE | -48.5% | -48.5% | -47.2% | -40.0% | -35.8% | -30.1% | -30.0% | -35.1% | -27.9% | -22.7% | -18.9% |
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 | 0.14 | 0.14 | 0.24 | 0.11 | 0.11 | 0.07 | 0.07 | 0.07 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.09 | 0.02 | -0.11 | -0.32 | -0.05 | -0.23 | -0.14 | -0.21 | -1.13 | -1.30 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | -9.12 |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($155M) exceeds total debt ($93M)
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 | 5.08 | 5.08 | 5.77 | 8.67 | 9.61 | 6.11 | 9.59 | 8.12 | 8.01 | 11.32 | 9.15 |
| Quick Ratio | 5.08 | 5.08 | 5.77 | 8.67 | 9.61 | 6.11 | 9.59 | 8.12 | 8.01 | 11.32 | 9.15 |
| Cash Ratio | 4.33 | 4.33 | 5.43 | 7.92 | 9.42 | 5.95 | 9.30 | 7.85 | 7.74 | 10.86 | 8.89 |
| Asset Turnover | — | 0.08 | 0.05 | 0.03 | 0.03 | 0.03 | 0.09 | 0.13 | 0.09 | 0.07 | 0.06 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 51.07 | 53.71 | 366.82 | 26.39 | 22.43 | 13.41 | 39.12 | 90.51 | 146.34 | 142.95 |
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 | — | — | — | — | — | — | — | — | — | — | 6.6% |
| Buyback Yield | 0.0% | 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% | 0.0% |
| Shares Outstanding | — | $108M | $99M | $89M | $77M | $71M | $56M | $47M | $43M | $36M | $35M |
Includes 30+ ratios · 12 years · Updated daily
Live VCP patterns, Cup & Handle overlays, support/resistance, and AI trade plans.
High-probability breakout stocks crossing their pivot across 5 pattern engines.
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying NTLA stock.
Intellia Therapeutics, Inc.'s current P/E ratio is -3.7x. This places it at the 50th percentile of its historical range.
Intellia Therapeutics, Inc.'s return on equity (ROE) is -53.5%. The historical average is -49.7%.
Based on historical data, Intellia Therapeutics, Inc. is trading at a P/E of -3.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Intellia Therapeutics, Inc. has 76.5% gross margin and -651.7% operating margin.
Key Metrics
Top Statement Risk
Cash runway and binary clinical risk
Metrics are mathematically derived from official filings.
Liquidity Buffer Shrinking Rapidly
Current ratio remains high at 6.65, but cash dropped to $106.1M in 2026Q2, implying less than one year of runway against TTM operating losses of roughly $400M, per reported figures.
The current ratio of 6.65 appears robust, yet it is inflated by the absence of significant current liabilities and does not reflect the cash burn rate. With cash and equivalents at $155.5M and TTM operating losses near $400M, the liquidity position may be insufficient to fund operations beyond the next few quarters without additional financing. Investors should monitor the cash runway closely, as the high current ratio masks the urgency of capital needs.
Low Leverage Masks Refinancing Needs
Debt-to-equity is only 0.10, but total debt fell from $210.2M to $73.4M, and with no positive EBITDA, interest coverage is not meaningful; the real risk is equity dilution, not debt service.
The modest leverage provides some balance-sheet cushion, but the company has no earnings to cover interest, making traditional coverage ratios irrelevant. The decline in total debt suggests a deliberate deleveraging, yet the pressing concern is the need for future capital to fund the pipeline. The low D/E may give a false sense of security, as the company's survival depends on access to equity markets rather than debt capacity.
Working Capital Swings Signal Timing Risk
DSO swung from 319 days in 2024Q2 to 98 days in 2026Q2, while DPO reached 798 days in 2026Q1, indicating that cash flows are driven by collaboration payment timing, not operational efficiency.
The extreme volatility in DSO and DPO reflects the project-based nature of collaboration revenue and the timing of milestone payments, rather than any underlying working capital management. The negative cash conversion cycle in some quarters suggests that the company is effectively using supplier financing, but this is likely an artifact of accrual accounting. The efficiency ratios are not meaningful for a pre-commercial biotech and should be interpreted with caution.
Gross Margin Artifact Masks True Economics
TTM gross margin of 76.5% is an accounting artifact of milestone-based revenue with minimal COGS, while operating margin of -651.7% reflects the true cost of advancing the pipeline, per financial statements.
The gross margin is not indicative of operational efficiency, as it stems from collaboration revenue that carries little direct cost. The operating margin, though deeply negative, is the more relevant metric for assessing the company's earnings power, which is currently nonexistent. The improvement in operating margin from -15.9% in 2024Q3 to -14.7% in 2026Q2 is marginal and does not signal a path to profitability.
Returns on Capital Remain Deeply Negative
ROIC has hovered around -11% to -13% over the past ten quarters, with no sign of improvement, indicating that the company is not compounding value but rather burning capital on clinical development.
The consistent negative ROIC reflects the pre-revenue stage, where all capital is directed to R&D with no return yet. The slight narrowing of losses in 2026Q2 is not enough to suggest a trend toward positive returns. The company's return on capital will only improve if clinical success translates into commercial revenue, which is years away and highly uncertain.
Misapplied Metric: Gross Margin
Gross margin is commonly misapplied to Intellia, as it suggests profitability when the company is deeply unprofitable; the 76.5% TTM figure is an artifact of collaboration accounting, not product economics.
For a pre-commercial biotech, gross margin is misleading because it excludes the substantial R&D and SG&A costs that drive the business. The appropriate metric is cash burn relative to cash runway, or operating margin adjusted for stock-based compensation. Investors should focus on the sustainability of the cash position and the potential for future financing, rather than gross margin, which obscures the true financial health of the company.