Latest Ratios: P/E Ratio -1.2x · EV/EBITDA N/A · ROE -244.2%. (2012–2025 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $50M | $36M | $59M | $154M | $378M | $207M | $36M | $13M | $26M | $285M | $361M |
| Enterprise Value | $40M | $26M | $40M | $121M | $327M | $143M | $8M | $738461 | $-9028639 | $217M | $269M |
| P/E Ratio → | -1.20 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/B Ratio | 4.45 | 3.86 | 3.13 | 5.89 | 8.58 | 3.28 | 1.32 | 1.10 | 0.86 | 4.57 | 4.04 |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -244.2% | -244.2% | -166.7% | -122.5% | -76.2% | -37.5% | -76.5% | -33.7% | -88.6% | -67.1% | -36.7% |
| ROA | -91.0% | -91.0% | -71.8% | -63.0% | -56.7% | -34.5% | -65.4% | -27.6% | -63.4% | -50.0% | -31.7% |
| ROIC | — | — | — | — | — | — | — | — | — | — | — |
| ROCE | -128.0% | -128.0% | -98.1% | -76.2% | -63.8% | -47.1% | -75.8% | -74.7% | -78.6% | -56.5% | -34.4% |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 1.83 | 1.83 | 1.15 | 0.91 | 0.53 | 0.01 | 0.02 | — | 0.00 | 0.33 | 0.17 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.06 | -1.05 | -1.25 | -1.14 | -1.02 | -1.04 | -1.04 | -1.16 | -1.08 | -1.02 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -5.68 | -5.68 | -7.23 | -9.54 | -30.93 | — | — | -218.91 | -2.69 | -23.52 | -32.78 |
Net cash position: cash ($27M) exceeds total debt ($17M)
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.98 | 2.98 | 2.64 | 4.33 | 7.79 | 17.80 | 9.28 | 5.18 | 5.59 | 6.92 | 16.06 |
| Quick Ratio | 2.98 | 2.98 | 2.64 | 4.33 | 7.79 | 17.80 | 9.28 | 5.18 | 5.59 | 6.92 | 16.06 |
| Cash Ratio | 2.82 | 2.82 | 2.44 | 4.15 | 7.52 | 17.37 | 8.82 | 4.35 | 5.43 | 6.84 | 15.92 |
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| 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 | — | $46M | $36M | $31M | $29M | $26M | $17M | $5M | $4M | $2M | $1M |
Clinical Trial Funding Gap
Based on reported figures, PDSB's P/B ratio of 4.45 suggests that investors are pricing the company primarily on the potential of its Versamune platform rather than tangible assets, a valuation premium that appears aggressive given the persistent negative earnings and the absence of commercial revenue streams.
The current valuation multiple implies that the market is assigning significant optionality to the PDS0101 pipeline, effectively discounting the high probability of future dilution. Investors should monitor whether this premium holds as the company approaches the capital-intensive Phase III trial phase, which may necessitate further equity issuance.
As reported in financial statements, PDSB's ROIC has trended into negative territory, reaching -14.6% in 2025Q4, which indicates that the company is currently destroying shareholder value as it consumes capital to fund clinical development without generating any offsetting returns on invested capital.
The persistent decay in ROIC is a direct consequence of the high R&D burn rate required to advance the Versamune platform. This trend suggests that until the company achieves a successful clinical readout or commercial partnership, the return profile will likely remain strained and dependent on external capital injections.
According to recent SEC filings, PDSB's debt-to-equity ratio has deteriorated to 4.07 in 2026Q1, a significant increase from 0.65 in 2024Q1, which indicates that the company's reliance on debt has grown as its equity base has been systematically depleted by ongoing operational losses.
The rising leverage ratio warrants close monitoring, as it suggests a narrowing margin of safety for creditors and shareholders alike. The company's inability to generate positive interest coverage, evidenced by a -6.43 ratio in 2026Q1, implies that debt service may become increasingly burdensome without a strategic capital raise.
Based on PDSB's reported figures, the current ratio has declined from a peak of 4.56 in 2024Q1 to 2.26 in 2026Q1, signaling that the company's short-term liquidity position is tightening as cash reserves are deployed to sustain the clinical trial pipeline.
While a current ratio of 2.26 remains technically adequate, the downward trend is concerning given the company's lack of recurring revenue. Investors should consider this a potential indicator of an approaching liquidity inflection point, necessitating further investigation into the company's planned financing activities.
The P/E ratio is frequently misapplied to PDSB, as the company's pre-revenue status renders earnings-based multiples entirely meaningless, obscuring the reality that the firm's value is derived from clinical trial success probabilities rather than current operational profitability or historical earnings performance.
Analysts should instead focus on cash runway and probability-weighted net present value (rNPV) models to assess the company's true worth. Relying on P/E or EV/EBITDA in this context may lead to a fundamental misunderstanding of the company's risk-reward profile, as these metrics fail to capture the binary nature of biotech clinical outcomes.
Includes 30+ ratios · 14 years · Updated daily
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Quick answers to the most common questions about buying PDSB stock.
PDS Biotechnology Corporation's current P/E ratio is -1.2x. This places it at the 50th percentile of its historical range.
PDS Biotechnology Corporation's return on equity (ROE) is -244.2%. The historical average is -91.7%.
Based on historical data, PDS Biotechnology Corporation is trading at a P/E of -1.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.