Latest Ratios: P/E Ratio -6.1x · EV/EBITDA N/A · ROE -36.6%. (2018–2025 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 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $995M | $2.2B | $342M | $635M | $98M | $370M | $1.9B | — | — |
| Enterprise Value | $948M | $2.1B | $204M | $569M | $77M | $359M | $1.6B | — | — |
| P/E Ratio → | -6.09 | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 2.07 | 4.55 | 0.84 | 2.50 | 0.50 | 1.30 | 5.59 | — | — |
| P/FCF | — | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -36.6% | -36.6% | -39.1% | -42.8% | -43.5% | -22.8% | -13.5% | — | — |
| ROA | -33.0% | -33.0% | -35.6% | -39.2% | -41.0% | -22.3% | -12.9% | -253.7% | -67.2% |
| ROIC | -38.2% | -38.2% | -46.5% | -43.2% | -35.6% | -39.2% | — | — | — |
| ROCE | -40.1% | -40.1% | -42.8% | -46.2% | -44.0% | -22.9% | -12.8% | -474.0% | -67.7% |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.34 | -0.26 | -0.11 | -0.04 | -1.00 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | -32.88 | — | -74.25 |
Net cash position: cash ($48M) exceeds total debt ($1M)
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 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 9.95 | 9.95 | 10.50 | 12.33 | 12.62 | 32.23 | 74.62 | 0.07 | 16.13 |
| Quick Ratio | 9.95 | 9.95 | 10.50 | 12.33 | 12.62 | 32.23 | 74.62 | 0.07 | 16.13 |
| Cash Ratio | 9.76 | 9.76 | 10.40 | 12.11 | 12.35 | 31.85 | 73.84 | 0.05 | 15.67 |
| Asset Turnover | — | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Shares Outstanding | — | $87M | $59M | $45M | $40M | $40M | $39M | $40M | $14M |
Binary clinical trial failure
According to recent market data, OLMA trades at a price-to-book ratio of 2.07, which, when compared to peers like Revolution Medicine or Tango Therapeutics, suggests that investors are heavily discounting the company's clinical assets due to the binary nature of its upcoming Phase 3 trial readouts.
The lack of revenue renders traditional P/E or EV/EBITDA multiples inapplicable, forcing a reliance on P/B as a proxy for the market's assessment of the company's intellectual property. This valuation appears to incorporate a significant 'fast-follower' discount relative to first-to-market competitors, implying that the market is pricing in substantial execution risk rather than the potential upside of the dual-action CERAN/SERD mechanism.
Based on reported financial figures, OLMA's ROIC has consistently remained in negative territory, reaching -10.1% in 2026Q1, which highlights the structural inability of a pre-revenue biotechnology firm to generate positive returns on invested capital while simultaneously funding intensive, multi-year clinical development programs.
The persistent negative ROIC is a direct consequence of the company's high-cost R&D structure, which is necessary to advance OP-1250 through clinical milestones. Investors should monitor whether these returns on capital begin to stabilize or improve as the company approaches potential commercialization, though current trends suggest that capital efficiency remains secondary to the primary objective of clinical validation.
As reported in recent SEC filings, the company's current ratio has declined from 15.22 in 2025Q1 to 10.88 in 2026Q1, signaling a rapid erosion of the liquidity buffer that is essential for sustaining operations through the high-cost Phase 3 clinical trial phase for its lead candidate.
While a current ratio above 10.0 might appear robust in a traditional industrial context, for a clinical-stage biotech, it masks the reality of a rapidly depleting cash runway. The lack of inventory or significant receivables means this liquidity is almost entirely dependent on cash-on-hand, which warrants further investigation into the timing of future dilutive equity raises.
The current ratio is the most commonly misapplied metric for OLMA, as it obscures the reality that the company's 'current assets' are almost entirely cash, which is being consumed at an accelerating rate that renders standard liquidity benchmarks largely irrelevant for assessing long-term solvency.
Analysts should instead focus on the 'cash burn rate' relative to the 'clinical trial timeline' to determine the true financial runway. Relying on the current ratio provides a false sense of security, as it fails to account for the massive, non-discretionary contractual obligations to CROs that will inevitably drain the remaining cash balance regardless of the current accounting liquidity.
Includes 30+ ratios · 8 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying OLMA stock.
Olema Pharmaceuticals, Inc.'s current P/E ratio is -6.1x. This places it at the 50th percentile of its historical range.
Olema Pharmaceuticals, Inc.'s return on equity (ROE) is -36.6%. The historical average is -33.1%.
Based on historical data, Olema Pharmaceuticals, Inc. is trading at a P/E of -6.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.