Latest Ratios: P/E Ratio -4.4x · EV/EBITDA N/A · ROE -23.4%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $300M | $210M | $362M | $615M | $307M | $1.1B | — | — |
| Enterprise Value | $295M | $205M | $358M | $624M | $300M | $1.2B | — | — |
| P/E Ratio → | -4.42 | — | — | — | — | — | — | — |
| P/S Ratio | 16.08 | 11.26 | 13.73 | 18.00 | 5.20 | 33.04 | — | — |
| P/B Ratio | 1.07 | 0.79 | 1.26 | 1.96 | 0.90 | 4.90 | — | — |
| P/FCF | — | — | — | 874.88 | — | — | — | — |
| P/OCF | — | — | — | 262.06 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 10.98 | 13.56 | 18.27 | 5.07 | 33.44 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | 887.98 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | -18.2% | -18.2% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating Margin | -383.1% | -383.1% | -282.3% | -203.2% | -45.1% | -102.5% | -110.1% | -71.1% |
| Net Profit Margin | -347.0% | -347.0% | -235.1% | -148.2% | -37.8% | -77.8% | -75.5% | -74.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -23.4% | -23.4% | -20.6% | -15.4% | -7.8% | -11.5% | -7.7% | -6.2% |
| ROA | -20.7% | -20.7% | -17.7% | -12.7% | -6.2% | -9.0% | -6.3% | -5.2% |
| ROIC | -19.7% | -19.7% | -18.4% | -15.8% | -6.9% | -11.0% | -8.4% | -4.4% |
| ROCE | -24.0% | -24.0% | -22.5% | -18.6% | -7.8% | -12.6% | -9.5% | -5.1% |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.06 | 0.01 | 0.01 |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.02 | -0.02 | 0.03 | -0.02 | 0.06 | 0.01 | 0.01 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | 13.09 | — | — | 1.39 | — |
| Interest Coverage | — | — | — | — | — | -4906.14 | -4710.60 | — |
Net cash position: cash ($26M) exceeds total debt ($20M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 4.02 | 4.02 | 4.52 | 4.11 | 4.80 | 1.10 | 1.17 | 1.27 |
| Quick Ratio | 4.02 | 4.02 | 4.52 | 4.11 | 4.80 | 1.10 | 1.17 | 1.27 |
| Cash Ratio | 3.32 | 3.32 | 3.94 | 3.76 | 3.39 | — | — | — |
| Asset Turnover | — | 0.06 | 0.08 | 0.09 | 0.14 | 0.11 | 0.08 | 0.07 |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 144.51 | 72.91 | 41.07 | 187.14 | 222.02 | 249.03 | 154.90 |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | 0.1% | — | — | — | — |
| Buyback Yield | 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% | — | — |
| Shares Outstanding | — | $114M | $102M | $100M | $85M | $115M | $115M | $115M |
Rapid Cash Reserve Depletion
According to current market data, OABI trades at a P/S multiple of 16.08, which appears elevated relative to its recent 29.27% YoY revenue contraction and suggests that investors are pricing in significant future optionality from the transgenic platform rather than current fundamental performance.
The high P/S ratio implies that the market is valuing the company as a high-growth technology platform rather than a struggling biotech service provider. This valuation may be disconnected from the reality of the lumpy, milestone-dependent revenue stream that has failed to demonstrate consistent top-line expansion.
Based on reported financial statements, OABI's ROIC has remained consistently negative over the last ten quarters, bottoming at -5.4% in 2024Q1, which indicates that the company is currently destroying shareholder value rather than compounding it through its specialized antibody discovery operations.
The inability to generate positive returns on invested capital reflects the high fixed-cost burden of maintaining transgenic animal colonies without sufficient commercial scale. Investors should monitor whether the company can achieve a positive ROIC as its partner-led pipeline matures into commercial royalty streams.
As reported in recent filings, OABI's asset turnover ratio remains extremely low at 0.05 in 2026Q1, highlighting a structural inefficiency where the company's significant asset base is not being effectively utilized to generate meaningful revenue compared to its historical performance or industry peers.
The erratic nature of the company's DSO, which has fluctuated between 37 and 127 days, suggests that cash collection cycles are highly dependent on the timing of partner milestones. This lack of predictability in working capital management complicates the company's ability to forecast liquidity needs accurately.
Based on the 2026Q1 balance sheet, OABI maintains a current ratio of 4.80, yet this figure masks the underlying risk of rapid cash depletion, as the company's $29.0 million cash reserve is being consumed by persistent operating losses and high R&D overhead.
While the current ratio appears healthy on the surface, the lack of recurring revenue streams makes the company vulnerable to liquidity stress if milestone payments are delayed. The company's reliance on cash reserves to fund operations warrants close monitoring of the burn rate relative to the remaining runway.
The Price-to-Sales ratio is frequently misapplied to OABI, as it fails to account for the lumpy, milestone-driven nature of the company's revenue, which often leads to misleading valuation signals during periods of low clinical activity or delayed partner-led commercialization efforts.
Instead of relying on P/S, analysts should focus on the number of active programs and the probability-weighted value of the royalty pipeline. Using P/S in a business model that is essentially a royalty aggregator obscures the long-term value of the underlying intellectual property.
Includes 30+ ratios · 7 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OABI stock.
OmniAb, Inc.'s current P/E ratio is -4.4x. This places it at the 50th percentile of its historical range.
OmniAb, Inc.'s return on equity (ROE) is -23.4%. The historical average is -13.2%.
Based on historical data, OmniAb, Inc. is trading at a P/E of -4.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
OmniAb, Inc. has -18.2% gross margin and -383.1% operating margin.