Latest Ratios: P/E Ratio -1.2x · EV/EBITDA N/A · ROE -239.6%. (2022–2025 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 |
|---|---|---|---|---|---|
| Market Cap | $91M | $58M | — | — | — |
| Enterprise Value | $108M | $75M | — | — | — |
| P/E Ratio → | -1.20 | — | — | — | — |
| P/S Ratio | 5.43 | 3.47 | — | — | — |
| P/B Ratio | 1.33 | 1.50 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| EV / Revenue | — | 4.47 | — | — | — |
| 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 |
|---|---|---|---|---|---|
| Gross Margin | 62.6% | 62.6% | — | — | — |
| Operating Margin | -193.1% | -193.1% | — | — | — |
| Net Profit Margin | -257.9% | -257.9% | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -239.6% | -239.6% | — | — | — |
| ROA | -65.8% | -65.8% | -1085.7% | -9745.9% | -4464.2% |
| ROIC | -89.0% | -89.0% | — | — | — |
| ROCE | -63.8% | -63.8% | — | — | — |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.90 | 0.90 | — | — | — |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | 0.43 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | -10.77 | -10.77 | -9.12 | -13.23 | -16.51 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 2.03 | 2.03 | 0.34 | 0.01 | 0.01 |
| Quick Ratio | 1.12 | 1.12 | 0.34 | 0.01 | 0.01 |
| Cash Ratio | 0.69 | 0.69 | 0.13 | 0.01 | 0.01 |
| Asset Turnover | — | 0.13 | — | — | — |
| Inventory Turnover | 0.27 | 0.27 | — | — | — |
| Days Sales Outstanding | — | 192.51 | — | — | — |
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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | — | — | — |
| Shares Outstanding | — | $2M | $587620 | $576752 | $576752 |
Insufficient liquidity for commercialization
Based on reported figures, PTHS trades at a P/S multiple of 5.72, which suggests that investors are pricing the company on the long-term peak sales potential of ZELSUVMI rather than current operational performance, as the firm remains in a deep, loss-making commercial launch phase.
The absence of a positive P/E or EV/EBITDA multiple highlights that the market is currently ignoring near-term earnings in favor of growth optionality. This valuation appears aggressive when compared to established specialty pharma peers, implying that any deviation from the expected prescription ramp could lead to a significant downward re-rating.
As reported in recent financial statements, the company's ROIC of -17.6% in 2026Q1 underscores the significant capital destruction inherent in the current commercialization strategy, where the cost of building a specialized sales force far outweighs the incremental returns generated by the ZELSUVMI product line.
The negative ROIC trend indicates that the company is currently failing to compound capital, as the heavy investment in commercial infrastructure has yet to reach an inflection point. Investors should monitor whether the company can improve its capital efficiency as the product gains broader market penetration and fixed costs are better absorbed.
According to recent SEC filings, the company's cash conversion cycle of 622 days in 2026Q1 reflects extreme inefficiencies in managing inventory and receivables, which is typical for a new product launch but highlights the significant logistical hurdles in scaling the NITRICIL platform's distribution.
The high DIO and DSO figures suggest that the company is struggling to convert its inventory into cash, likely due to initial channel stocking and the complexities of the pediatric dermatology supply chain. This inefficiency places additional pressure on the firm's already limited liquidity, as cash remains tied up in the distribution channel rather than funding core operations.
Based on the company's reported figures, the current ratio of 2.76 in 2026Q1 masks a precarious cash position, as the firm's ongoing operating losses and debt obligations suggest that the current liquidity buffer may be insufficient to sustain operations through the next twelve months.
While the current ratio appears healthy on the surface, the reliance on inventory and receivables to meet short-term obligations is a concern given the early-stage nature of the product. The company's ability to maintain its current commercial trajectory without further dilutive financing appears increasingly uncertain, warranting close attention from risk-focused investors.
Investors frequently misapply the P/S ratio to PTHS, failing to account for the high gross-to-net adjustments and potential channel stuffing that often inflate early-stage pharmaceutical revenue, which obscures the true underlying demand for the ZELSUVMI product in a competitive dermatology market.
Using P/S as a primary valuation tool for a company in this stage of development ignores the critical importance of net revenue yield and prescriber breadth. A more appropriate metric would be a risk-adjusted NPV of projected cash flows, which would better capture the uncertainty surrounding the company's ability to displace established in-office treatment modalities.
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Quick answers to the most common questions about buying PTHS stock.
Pelthos Therapeutics Inc.'s current P/E ratio is -1.2x. This places it at the 50th percentile of its historical range.
Pelthos Therapeutics Inc.'s return on equity (ROE) is -239.6%. The historical average is -239.6%.
Based on historical data, Pelthos Therapeutics Inc. 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.
Pelthos Therapeutics Inc. has 62.6% gross margin and -193.1% operating margin.