Ocular Therapeutix, Inc. (OCUL) Financial Ratios
14 years of historical data (2012–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: N/A
P/B Ratio
↓
2.77
↓-45% vs avg
5yr avg: 5.00
30Y Low2.4·High16.5
ROE
↓
-54.9%
↓+32% vs avg
5yr avg: -80.2%
30Y Low-430%·High-8%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
OCUL Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Ocular Therapeutix, Inc. 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 | $2.1B | $2.3B | $1.4B | $382M | $232M | $573M | $1.3B | $179M | $152M | $128M | $208M |
| Enterprise Value | $1.5B | $1.6B | $1.0B | $269M | $194M | $467M | $1.1B | $184M | $122M | $105M | $190M |
| P/E Ratio → | -6.82 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 40.90 | 43.86 | 21.21 | 6.53 | 4.51 | 13.16 | 72.26 | 42.31 | 76.23 | 66.69 | 110.08 |
| P/B Ratio | 2.77 | 3.47 | 4.29 | 4.19 | 6.56 | 6.51 | 16.53 | — | 4.23 | 4.90 | 3.99 |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
OCUL 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 | — | 31.18 | 16.25 | 4.61 | 3.77 | 10.74 | 62.52 | 43.47 | 61.52 | 54.46 | 100.91 |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | 3961.77 | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — | — | — |
OCUL Profitability
Margins and return-on-capital ratios measuring operating efficiency
Ocular Therapeutix, Inc. earns an operating margin of -521.0%. Operating margins have compressed from -141.0% to -521.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -54.9% 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 | 87.3% | 87.3% | 91.2% | 91.0% | 91.2% | 89.9% | 88.0% | 45.0% | 76.6% | 76.2% | 76.5% |
| Operating Margin | -521.0% | -521.0% | -269.6% | -141.0% | -152.7% | -179.3% | -361.1% | -2029.9% | -2970.8% | -3220.1% | -2296.0% |
| Net Profit Margin | -513.2% | -513.2% | -303.7% | -138.1% | -138.0% | -15.1% | -894.3% | -2043.3% | -2899.1% | -3296.2% | -2369.0% |
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 | -54.9% | -54.9% | -95.2% | -127.6% | -115.2% | -8.0% | -429.5% | -535.7% | -186.0% | -162.2% | -63.1% |
| ROA | -42.0% | -42.0% | -54.5% | -40.2% | -40.1% | -2.8% | -91.4% | -113.8% | -89.8% | -97.2% | -48.3% |
| ROIC | — | — | — | — | — | — | — | -1633.9% | -961.2% | -248.8% | -59.7% |
| ROCE | -46.0% | -46.0% | -54.2% | -49.2% | -53.1% | -37.7% | -41.6% | -131.4% | -111.7% | -114.0% | -50.5% |
OCUL Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $737M exceeds total debt of $80M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.12 | 0.12 | 0.24 | 0.92 | 1.82 | 0.67 | 0.77 | — | 0.69 | 0.69 | 0.30 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.00 | -1.00 | -1.23 | -1.07 | -1.20 | -2.23 | — | -0.82 | -0.90 | -0.33 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -21.47 | -21.47 | -13.25 | -6.12 | -9.12 | 0.02 | -22.00 | -13.16 | -33.49 | -32.50 | -25.61 |
Net cash position: cash ($737M) exceeds total debt ($80M)
OCUL Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Ocular Therapeutix, Inc.'s current ratio of 15.39x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 6.66x to 15.39x 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 | 15.39 | 15.39 | 10.66 | 6.66 | 4.13 | 7.26 | 9.23 | 5.00 | 6.14 | 3.23 | 8.42 |
| Quick Ratio | 15.32 | 15.32 | 10.59 | 6.59 | 4.07 | 7.22 | 9.19 | 4.92 | 6.11 | 3.22 | 8.41 |
| Cash Ratio | 14.51 | 14.51 | 9.48 | 5.61 | 3.26 | 6.23 | 8.55 | 4.53 | 5.90 | 3.09 | 8.21 |
| Asset Turnover | — | 0.06 | 0.14 | 0.23 | 0.34 | 0.21 | 0.07 | 0.05 | 0.03 | 0.03 | 0.03 |
| Inventory Turnover | 1.84 | 1.84 | 1.85 | 2.29 | 2.30 | 3.52 | 1.73 | 2.44 | 2.14 | 3.75 | 3.92 |
| Days Sales Outstanding | — | 215.87 | 185.52 | 163.50 | 151.16 | 177.25 | 256.97 | 220.02 | 36.87 | 42.90 | 48.36 |
OCUL Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Ocular Therapeutix, Inc. 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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $187M | $158M | $86M | $83M | $82M | $61M | $45M | $38M | $29M | $25M |
Peer Comparison
Compare OCUL 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 |
|---|---|---|---|---|---|---|---|---|---|
 OCULYou | $2B | -6.8 | — | — | 87.3% | -521.0% | -54.9% | — | — |
 RCKT | $398M | -1.8 | — | — | — | — | -60.3% | -63.2% | — |
 KALA | $617676 | -0.0 | — | — | — | — | -388.3% | — | — |
 ALDX | $104M | -1.8 | — | — | — | — | -58.5% | -369.4% | — |
 NVCR | $2B | -13.8 | — | — | 74.5% | -23.5% | -38.9% | -16.4% | — |
 SGHT | $286M | -7.1 | — | — | 86.2% | -48.0% | -50.7% | -274.4% | — |
 LNTH | $6B | 26.7 | 14.6 | 16.7 | 61.1% | 20.2% | 21.4% | 30.6% | 0.0 |
 RXST | $239M | -6.1 | — | — | 76.6% | -35.8% | -14.0% | -13.3% | — |
 ATRC | $1B | -115.8 | 77.7 | 29.2 | 74.4% | -0.6% | -2.4% | -0.6% | 5.2 |
 NVAX | $2B | 3.6 | 2.6 | — | 93.7% | 50.1% | — | — | 0.4 |
 PRPH | $5M | -0.0 | — | — | -2.2% | -570.6% | -188.1% | -59.4% | — |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying OCUL stock.
What is Ocular Therapeutix, Inc.'s P/E ratio?
Ocular Therapeutix, Inc.'s current P/E ratio is -6.8x. This places it at the 50th percentile of its historical range.
What is Ocular Therapeutix, Inc.'s ROE?
Ocular Therapeutix, Inc.'s return on equity (ROE) is -54.9%. The historical average is -122.2%.
Is OCUL stock overvalued?
Based on historical data, Ocular Therapeutix, Inc. is trading at a P/E of -6.8x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Ocular Therapeutix, Inc.'s profit margins?
Ocular Therapeutix, Inc. has 87.3% gross margin and -521.0% operating margin.