Latest Ratios: P/E Ratio -39.2x · EV/EBITDA N/A · ROE -24.7%. (2005–2025 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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $3.4B | $1.4B | $326M | $410M | $359M | $227M | $8M | $5M | $14M | $26M | $29M |
| Enterprise Value | $3.3B | $1.3B | $265M | $368M | $306M | $178M | $-793811 | $-2037883 | $5M | $18M | $-9556885 |
| P/E Ratio → | -39.22 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 8.76 | 2.93 | 0.85 | 9.83 | 7.03 | 4.87 | 0.99 | 0.76 | 1.37 | 1.16 | 0.77 |
| 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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -24.7% | -24.7% | -39.5% | -21.4% | -39.6% | -36.0% | -80.4% | -97.3% | -113.9% | -54.6% | -43.3% |
| ROA | -23.8% | -23.8% | -38.1% | -20.3% | -36.7% | -33.0% | -71.4% | -82.7% | -100.0% | -51.2% | -41.1% |
| ROIC | -24.5% | -24.5% | -41.2% | — | — | — | — | -1221.4% | -171.5% | -177.2% | — |
| ROCE | -28.5% | -28.5% | -41.5% | -21.1% | -39.3% | -35.8% | -85.2% | -99.4% | -115.1% | -55.1% | -43.4% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.00 | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.10 | -0.16 | -1.01 | -1.04 | -1.05 | -1.10 | -1.10 | -0.85 | -0.33 | -1.02 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | -56.03 | — | — | -1082.00 | -806.00 | — | — | — | — |
Net cash position: cash ($47M) exceeds total debt ($2M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.37 | 22.37 | 28.89 | 37.72 | 15.56 | 14.28 | 9.16 | 8.55 | 5.94 | 8.95 | 25.88 |
| Quick Ratio | 22.37 | 22.37 | 28.89 | 37.72 | 15.56 | 14.28 | 9.16 | 8.55 | 5.94 | 8.95 | 25.88 |
| Cash Ratio | 21.92 | 21.92 | 28.80 | 37.50 | 15.25 | 14.02 | 9.03 | 8.33 | 5.68 | 8.83 | 25.80 |
| 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 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 | FY 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | — | $46M | $17M | $14M | $14M | $5M | $110102 | $64115 | $48293 | $41978 | $29117 |
Clinical development funding gap
As reported in financial statements, Oruka Therapeutics trades at a price-to-book ratio of 8.76, which appears to reflect a significant platform premium rather than fundamental earnings, as the company remains pre-revenue and lacks the traditional valuation anchors found in established biotechnology peers like Regeneron Pharmaceuticals.
The elevated P/B multiple suggests that investors are pricing in the potential of the Paragon-derived antibody platform rather than current financial performance. This valuation warrants caution, as it implies high expectations for clinical success that may not be supported by the company's current cash-constrained balance sheet.
Based on recent quarterly data, Oruka Therapeutics has consistently reported negative ROIC, with figures reaching -6.3% in 2026Q1, indicating that the capital deployed into clinical development is currently failing to generate any economic return as the company remains in the early stages of its lifecycle.
The persistent negative return on capital is a structural characteristic of pre-revenue biotech firms, yet the trend suggests that the company is consuming capital faster than it is creating value. Investors should monitor whether future clinical milestones can reverse this trend before the current cash runway is fully exhausted.
According to historical filings, the company's accounts payable turnover has fluctuated significantly, with DPO reaching 8,181 days in 2026Q1, which suggests that Oruka is aggressively managing its cash outflows by delaying payments to vendors to preserve liquidity during its intensive clinical trial execution phase.
This extreme DPO figure indicates that the company is utilizing its supplier relationships as a source of interest-free financing. While this strategy provides a temporary liquidity buffer, it may not be sustainable and could potentially impact the company's ability to secure favorable terms for future clinical manufacturing needs.
As indicated by the most recent quarterly reports, the current ratio has compressed from 30.03 in 2025Q1 to 23.76 in 2026Q1, signaling that the company's liquidity position is tightening as it continues to fund its high-cost R&D programs without the benefit of commercial revenue streams.
While the current ratio remains numerically high, it is misleading due to the rapid depletion of cash reserves relative to the company's quarterly burn rate. The liquidity position appears increasingly vulnerable, suggesting that a capital raise may be necessary to maintain operations through the next major clinical readout.
The price-to-earnings ratio is the most commonly misapplied metric for Oruka Therapeutics, as the company's negative TTM P/E of -39.22 obscures the underlying value of its clinical pipeline and fails to account for the significant non-cash expenses that distort traditional profitability measures for early-stage firms.
Investors should instead focus on the 'cash runway to data' metric, which provides a more accurate assessment of the company's ability to reach critical clinical milestones. Relying on earnings-based multiples in this context is fundamentally flawed and may lead to an incorrect assessment of the company's true financial health.
Includes 30+ ratios · 20 years · Updated daily
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Quick answers to the most common questions about buying ORKA stock.
Oruka Therapeutics, Inc.'s current P/E ratio is -39.2x. This places it at the 50th percentile of its historical range.
Oruka Therapeutics, Inc.'s return on equity (ROE) is -24.7%. The historical average is -74.2%.
Based on historical data, Oruka Therapeutics, Inc. is trading at a P/E of -39.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.