Last 23 quarters of trend data · Healthcare · Medical - Instruments & Supplies
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -0.51 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 4.48 | 4.28 | 8.18 | 21.83 | 52.24 | 61.38 | 58.65 | 64.84 | 69.48 | 79.21 | 18.24 | 51.77 | 51.75 |
| — | -93.0% | -86.1% | -66.3% | -24.8% | -22.5% | +221.6% | +25.2% | +34.3% | -27.7% | -26.1% | -76.8% | -18.6% | |
| P/B Ratio | 0.93 | 3.50 | 3.76 | 3.38 | 3.81 | 2.81 | 2.62 | 3.14 | 1.78 | 4.44 | 1.36 | 1.75 | 1.81 |
| — | +24.5% | +43.6% | +7.8% | +114.0% | -36.6% | +92.9% | +79.7% | -1.6% | +211.3% | +26.5% | +39.8% | +5.3% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Nyxoah S.A.'s operating margin was -322.3% in Q1 2026, up 1.2 pp QoQ and up 1617.4 pp YoY. This marks the 5th consecutive quarter of margin expansion, signaling a sustained improvement in operating efficiency. The trailing four-quarter average of -838.5% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 51.2% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 63.1% | 30.2% | 64.2% | 60.5% | 63.4% | 61.8% | 73.5% | 61.9% | 63.6% | 62.7% | 60.2% | 65.6% | 62.2% |
| — | -51.2% | -12.6% | -2.3% | -0.2% | -1.4% | +22.1% | -5.6% | +2.3% | +4.0% | -6.6% | +0.3% | -3.3% | |
| Operating Margin | -827.8% | -322.3% | -323.5% | -1226.9% | -1481.3% | -1939.8% | -1449.8% | -1183.3% | -1725.9% | -1000.2% | -594.1% | -1125.6% | -1073.4% |
| — | +83.4% | +77.7% | -3.7% | +14.2% | -93.9% | -144.0% | -5.1% | -60.8% | +61.3% | +14.2% | +76.7% | -35.8% | |
| Net Margin | -899.1% | -250.2% | -416.6% | -1195.7% | -1537.8% | -2103.8% | -1357.8% | -1347.4% | -1702.2% | -975.1% | -597.2% | -779.9% | -1156.0% |
| — | +88.1% | +69.3% | +11.3% | +9.7% | -115.7% | -127.4% | -72.8% | -47.2% | +63.9% | +41.3% | +77.3% | -116.6% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -111.0% | -43.3% | -47.0% | -37.9% | -24.8% | -21.7% | -15.7% | -15.2% | -12.7% | -12.8% | -10.2% | -6.3% | -9.8% |
| — | -99.2% | -198.6% | -150.0% | -95.9% | -69.0% | -54.5% | -141.5% | -29.6% | -38.1% | +4.0% | -35.2% | -174.8% | |
| ROA | -65.1% | -17.0% | -22.2% | -22.4% | -16.3% | -15.2% | -11.4% | -11.7% | -10.0% | -10.0% | -8.2% | -5.1% | -8.0% |
| — | -11.9% | -94.7% | -91.5% | -62.5% | -51.5% | -39.3% | -129.2% | -25.2% | -30.5% | +5.6% | -34.3% | -167.6% | |
| ROIC | -76.4% | -30.0% | -22.7% | -27.6% | -18.3% | -15.9% | -13.7% | -11.0% | -10.9% | -11.0% | -7.9% | -6.9% | -7.6% |
| — | -87.9% | -65.9% | -151.1% | -67.6% | -45.3% | -72.0% | -58.5% | -43.8% | -45.7% | +1.3% | +32.0% | -0.2% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has weakened 72.4% YoY to 0.99x, tightening the short-term liquidity position. Debt/Equity has risen for 6 consecutive quarters, indicating increasing financial leverage that investors should watch closely.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.86 | 1.01 | 0.82 | 0.42 | 0.27 | 0.24 | 0.20 | 0.22 | 0.11 | 0.15 | 0.13 | 0.12 | 0.11 |
| — | +322.8% | +311.9% | +86.4% | +153.3% | +62.8% | +54.5% | +88.4% | -3.4% | +45.3% | +31.1% | +28.5% | +23.6% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 1.25 | 0.99 | 1.25 | 1.70 | 2.63 | 3.59 | 4.56 | 5.28 | 5.47 | 3.94 | 4.73 | 5.97 | 6.17 |
| — | -72.4% | -72.6% | -67.8% | -51.9% | -9.0% | -3.7% | -11.5% | -11.2% | -45.0% | -29.6% | +0.1% | -14.8% | |
| Quick Ratio | 1.16 | 0.88 | 1.16 | 1.41 | 2.38 | 3.35 | 4.34 | 4.95 | 5.16 | 3.70 | 4.50 | 5.84 | 6.09 |
| — | -73.7% | -73.4% | -71.5% | -54.0% | -9.4% | -3.7% | -15.3% | -15.2% | -47.8% | -33.0% | -1.6% | -15.6% | |
| Interest Coverage | -51.68 | -17.47 | — | -33.10 | -29.03 | -31.07 | -11.44 | -24.13 | -35.03 | -106.00 | -215.36 | -138.67 | -14.31 |
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Includes 30+ ratios · 23 years · Updated daily
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Nyxoah S.A.'s current P/E is -0.5x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Nyxoah S.A.'s current operating margin is -827.8%. 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 Nyxoah S.A.'s business trajectory between earnings reports.