Latest Ratios: P/E Ratio -27.3x · EV/EBITDA N/A · ROE -14.4%. (1996–2025 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 | $185M | $141M | $152M | $147M | $66M | $37M | $106M | $49M | $46M | $87M | $451M |
| Enterprise Value | $179M | $135M | $138M | $151M | $83M | $31M | $152M | $92M | $56M | $88M | $465M |
| P/E Ratio → | -27.35 | — | 51.37 | 17.80 | — | — | — | — | — | — | — |
| P/S Ratio | 3.51 | 2.68 | 2.85 | 2.24 | 1.39 | 0.96 | 1.68 | 0.89 | 1.34 | 4.11 | 49.05 |
| P/B Ratio | 3.75 | 2.93 | 3.53 | 4.37 | — | — | — | — | — | — | — |
| P/FCF | — | — | 20.62 | — | — | — | — | — | — | — | — |
| P/OCF | — | — | 17.57 | — | — | — | — | — | — | — | — |
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 | — | 2.56 | 2.59 | 2.30 | 1.74 | 0.81 | 2.42 | 1.68 | 1.63 | 4.16 | 50.59 |
| EV / EBITDA | — | — | 26.46 | 12.94 | — | — | 37.87 | — | — | — | — |
| EV / EBIT | — | — | 26.49 | 12.84 | — | — | 48.27 | — | — | — | — |
| EV / FCF | — | — | 18.69 | — | — | — | — | — | — | — | — |
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 | 47.8% | 47.8% | 54.5% | 64.9% | 58.9% | 57.4% | 82.7% | 80.1% | 72.8% | 27.7% | 8.7% |
| Operating Margin | -10.4% | -10.4% | 7.3% | 16.0% | -27.3% | -53.4% | 4.3% | -19.6% | -56.4% | -163.8% | -360.5% |
| Net Profit Margin | -12.5% | -12.5% | 5.5% | 12.7% | -31.3% | -71.9% | -10.4% | -33.4% | -77.3% | -395.9% | -319.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -14.4% | -14.4% | 7.6% | 72.5% | — | — | — | — | — | — | -6411.6% |
| ROA | -8.5% | -8.5% | 3.7% | 11.9% | -23.1% | -39.0% | -11.5% | -34.3% | -39.7% | -108.0% | -32.7% |
| ROIC | -11.6% | -11.6% | 8.8% | 36.2% | -170.5% | -406.7% | — | — | — | — | -457.5% |
| ROCE | -10.6% | -10.6% | 9.0% | 33.6% | -40.8% | -186.5% | — | -52.3% | -45.3% | -105.4% | -65.0% |
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 | 0.17 | 0.17 | 0.13 | 0.82 | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | 1.06 | 2.38 | — | — | 16.05 | — | — | — | — |
| Net Debt / Equity | — | -0.13 | -0.33 | 0.12 | — | — | — | — | — | — | — |
| Net Debt / EBITDA | — | — | -2.73 | 0.35 | — | — | 11.50 | — | — | — | — |
| Debt / FCF | — | — | -1.93 | — | — | — | — | — | — | — | — |
| Interest Coverage | -4.62 | -4.62 | 4.91 | 3.69 | -4.69 | -2.67 | 0.33 | -1.29 | -2.44 | -7.58 | -5.96 |
Net cash position: cash ($15M) exceeds total debt ($8M)
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 | 2.51 | 2.51 | 2.34 | 1.54 | 1.38 | 1.86 | 0.64 | 0.81 | 2.09 | 2.75 | 1.09 |
| Quick Ratio | 1.54 | 1.54 | 1.52 | 1.12 | 0.87 | 1.32 | 0.49 | 0.61 | 1.75 | 2.41 | 1.01 |
| Cash Ratio | 1.14 | 1.14 | 1.36 | 0.98 | 0.68 | 1.18 | 0.45 | 0.44 | 1.49 | 2.25 | 0.96 |
| Asset Turnover | — | 0.64 | 0.73 | 0.78 | 0.85 | 0.52 | 0.93 | 1.20 | 0.56 | 0.29 | 0.11 |
| Inventory Turnover | 1.07 | 1.07 | 1.14 | 1.21 | 1.17 | 0.91 | 0.83 | 1.34 | 1.09 | 1.94 | 1.60 |
| Days Sales Outstanding | — | 61.17 | 19.88 | 29.38 | 35.14 | 32.76 | 11.61 | 31.37 | 50.41 | 29.80 | 27.50 |
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 | — | — | 1.9% | 5.6% | — | — | — | — | — | — | — |
| FCF Yield | — | — | 4.9% | — | — | — | — | — | — | — | — |
| 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 | — | $79M | $81M | $82M | $48M | $44M | $29M | $15M | $15M | $13M | $101M |
Liquidity and milestone dependency
According to recent market data, PLX trades at a P/S multiple of 3.51, which appears to discount the company relative to peers due to the historical reliance on lumpy milestone payments and the ongoing uncertainty surrounding the commercial adoption trajectory of its recently launched Elfabrio therapy.
The forward P/E of 11.79 suggests that the market is pricing in a rapid transition to profitability, which may be overly optimistic given the company's history of operating losses. Investors should monitor whether the current valuation adequately accounts for the potential dilution required to sustain operations if commercial revenue fails to scale as anticipated.
Based on reported financial statements, ROIC has oscillated between -11.2% and 41.8% over the last ten quarters, illustrating that the company has yet to establish a consistent ability to generate sustainable returns on its invested capital while navigating the transition from development to commercialization.
The extreme volatility in ROIC is largely driven by the timing of non-recurring collaboration revenue rather than core operational efficiency. This inconsistency suggests that the company's capital allocation strategy remains reactive to partnership milestones rather than being anchored in a stable, self-funding business model.
As disclosed in recent filings, the cash conversion cycle has fluctuated significantly, reaching as high as 703 days in 2024Q1, which highlights the structural challenges of managing inventory and receivables within a business model heavily dependent on bulk international shipments and partner-driven procurement cycles.
The high DIO, which peaked at 724 days, suggests that the company may be carrying substantial inventory that is slow to convert into cash, potentially tying up critical liquidity. This inefficiency warrants further investigation into the company's supply chain management and the specific terms of its international distribution agreements.
According to the company's quarterly reports, the current ratio has varied between 1.33 and 3.15, indicating that while the firm maintains a basic level of short-term solvency, its liquidity position remains vulnerable to the lumpy nature of its revenue and the persistent cash burn of its operations.
The reliance on periodic capital raises to bolster the cash position suggests that the company's internal cash generation is not yet sufficient to cover its fixed costs. Investors should monitor the quick ratio closely, as it provides a more accurate view of the company's ability to meet immediate obligations without relying on the liquidation of potentially slow-moving inventory.
As noted in industry research, the P/E ratio is frequently misapplied to PLX, as it obscures the impact of non-recurring milestone payments and R&D tax credits that artificially inflate or deflate earnings in any given quarter, rendering the metric largely meaningless for assessing core commercial performance.
Analysts should instead focus on normalized operating cash flow or revenue growth from product sales to better understand the underlying health of the business. Relying on P/E in this context may lead to a fundamental misunderstanding of the company's true earning power and its ability to sustain operations without external financing.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying PLX stock.
Protalix BioTherapeutics, Inc.'s current P/E ratio is -27.3x. The historical average is 28.6x.
Protalix BioTherapeutics, Inc.'s return on equity (ROE) is -14.4%. The historical average is -55.3%.
Based on historical data, Protalix BioTherapeutics, Inc. is trading at a P/E of -27.3x. Compare with industry peers and growth rates for a complete picture.
Protalix BioTherapeutics, Inc. has 47.8% gross margin and -10.4% operating margin.