The company's reported cash position of $5.1 billion in 2025Q4 appears fundamentally inconsistent with its micro-cap status, warranting immediate verification of asset liquidity.
| Total Current Assets | 4.39M | 5.16B | 7.29M | 20.39M | 14.67M | 30.54M | 25.91M | 12.09M | 15.81M |
| Cash & Short-Term Investments | 4.35M | 5.14B | 3.71M | 13.34M | 9.43M | 23.85M | 17.14M | 2.15M | 2.79M |
| Cash Only | 4.35M | 5.14B | 3.71M | 13.34M | 9.43M | 23.85M | 17.14M | 2.15M | 2.79M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 416.08K | 2.23M | 2.11M | 3.06M | 5.15M | 3.85M | 3.51M |
| Days Sales Outstanding | - | - | 29.71 | 139.56 | 128.54 | 143.19 | 196.75 | 90.17 | 91.23 |
| Inventory | 0 | 0 | 3M | 1.61M | 1.82M | 519.65K | 760.53K | 2.2M | 6.49M |
| Days Inventory Outstanding | - | - | 902.65 | 360.34 | 289.38 | 118.58 | 68.6 | 63.26 | 226.03 |
| Other Current Assets | 42K | 26.88M | 6.53K | 816.21K | 802.21K | 1.53M | 1.48M | 1.94M | 1.64M |
| Total Non-Current Assets | 0 | 0 | 3.34M | 13.41M | 17.75M | 36.85M | 43.95M | 46.28M | 51.08M |
| Property, Plant & Equipment | 0 | 0 | 136.68K | 255.22K | 397.65K | 524.95K | 643.78K | 69.84K | 0 |
| Fixed Asset Turnover | - | - | 37.40x | 22.81x | 15.07x | 14.88x | 14.85x | 223.05x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.44M |
| Intangible Assets | 0 | 0 | 3.2M | 8.97M | 12.24M | 25.29M | 32.16M | 38.81M | 44.1M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 4.18M | 5.11M | 11.03M | 11.14M | 7.4M | 4.53M |
| Total Assets | 4.39M | 5.16B | 10.64M | 33.8M | 32.42M | 67.39M | 69.85M | 58.37M | 66.89M |
| Asset Turnover | 0.00x | - | 0.48x | 0.17x | 0.18x | 0.12x | 0.14x | 0.27x | 0.21x |
| Asset Growth % | 48235.45% | 48451.46% | -68.53% | 4.24% | -51.89% | -3.53% | 19.68% | -12.74% | - |
| Total Current Liabilities | 2.62M | 2.29B | 18.03M | 10.77M | 7.07M | 30.98M | 41.89M | 41.1M | 38.54M |
| Accounts Payable | 133.3K | 83.88K | 2.33M | 1.71M | 1.81M | 4.56M | 5.61M | 3.78M | 1.75M |
| Days Payables Outstanding | - | - | 700.97 | 383.36 | 287.99 | 1.04K | 505.99 | 108.38 | 61.02 |
| Short-Term Debt | 0 | 0 | 7.25M | 1.16M | 1.09M | 0 | 7.18M | 6.68M | 19.3M |
| Deferred Revenue (Current) | 1.72M | 0 | 0 | 2.05M | 0 | -125.58K | 0 | 0 | 0 |
| Other Current Liabilities | 2.49M | 2.29B | 7.1M | 1.11M | 822.39K | 22.93M | 26.04M | 453.09K | 12.57M |
| Current Ratio | 1.68x | 2.25x | 0.40x | 1.89x | 2.08x | 0.99x | 0.62x | 0.29x | 0.41x |
| Quick Ratio | 1.68x | 2.25x | 0.24x | 1.74x | 1.82x | 0.97x | 0.60x | 0.24x | 0.24x |
| Cash Conversion Cycle | - | - | 231.38 | 116.54 | 129.93 | -778.3 | -240.64 | 45.06 | 256.24 |
| Total Non-Current Liabilities | 0 | 0 | 75.22K | 10.55M | 8.65M | 865.02K | 10.49M | 9.24M | 30.03M |
| Long-Term Debt | 0 | 0 | 0 | 6.86M | 8.39M | 0 | 0 | 7.06M | 27.89M |
| Capital Lease Obligations | 0 | 0 | 75.22K | 137.66K | 262.68K | 405.02K | 530.6K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.43M | 2.08M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 3.55M | 0 | 460K | 9.96M | 749.55K | 57.4K |
| Total Liabilities | 2.62M | 2.29B | 18.1M | 21.32M | 15.72M | 31.85M | 52.38M | 50.35M | 68.57M |
| Total Debt | 0 | 0 | 7.39M | 8.28M | 9.88M | 405.02K | 7.81M | 13.74M | 47.19M |
| Net Debt | -4.35M | -5.14B | 3.68M | -5.06M | 456.53K | -23.44M | -9.33M | 11.6M | 44.4M |
| Debt / Equity | 0.00x | - | - | 0.66x | 0.59x | 0.01x | 0.45x | 1.71x | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | 113.79x |
| Net Debt / EBITDA | 1.26x | - | - | - | - | - | - | - | 107.05x |
| Interest Coverage | - | - | -24.53x | -14.23x | -32.62x | -23.38x | -6.22x | -1.39x | - |
| Total Equity | 1.77M | 2.87B | -7.47M | 12.48M | 16.7M | 35.54M | 17.47M | 8.02M | -1.68M |
| Equity Growth % | 38619.19% | 38544.25% | -159.84% | -25.28% | -53.01% | 103.47% | 117.84% | 576.97% | - |
| Book Value per Share | 0.04 | 10.23 | -0.93 | 5.74 | 8.07 | 32.64 | 32.71 | 32.60 | -16.81 |
| Total Shareholders' Equity | 1.77M | 2.87B | -7.47M | 12.48M | 16.7M | 35.54M | 17.47M | 8.02M | -1.68M |
| Common Stock | 4.24K | 4.23M | 1.05K | 298 | 208 | 2.07K | 971 | 29.12M | 0 |
| Retained Earnings | -112.28M | -111.29B | -113.21M | -98.89M | -90.73M | -70.69M | -61.7M | -41.12M | -1.68M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary Regulatory Failure Risk
As reported in recent financial filings, the company's total assets have fluctuated from $33.8 million in 2023Q4 to a reported $5.2 billion in 2025Q4, a massive variance that suggests either extreme capital structure shifts or significant data reporting anomalies that warrant immediate investor caution.
The dramatic swing in total assets appears disconnected from the company's underlying operational reality as a pre-revenue entity. This trajectory suggests that the balance sheet is not reflecting organic growth but rather potential accounting distortions or non-operational financial events that obscure the firm's true economic health.
Based on the provided quarterly data, the current ratio has oscillated between 0.40 and 2.25, indicating that the company's ability to cover short-term obligations remains highly inconsistent and dependent on external financing rather than internal cash generation from its core pharmaceutical operations.
The erratic nature of the current ratio suggests that the company lacks a stable liquidity cushion to support its long-term regulatory transition. Investors should monitor whether the reported cash levels are truly liquid or if they are restricted by regulatory or contractual obligations that limit their use for operational burn.
According to historical balance sheet data, the company's equity position turned negative in early 2025, dropping to -$9.6 million in 2025Q1, which highlights the severe impact of accumulated losses and the potential for significant shareholder dilution to sustain the ongoing regulatory-first business model.
The persistent negative retained earnings, which reached -$112.3 million by 2026Q1, indicate that the company has been unable to generate value from its capital base. This erosion of equity suggests that the firm is effectively consuming its own capital structure to fund the high-risk OTC switch.
As indicated by the company's 2025Q4 balance sheet, the reported $5.1 billion in cash is fundamentally inconsistent with the firm's micro-cap market valuation and historical revenue profile, suggesting that this figure may be a reporting error or a non-operational asset that is unavailable for general corporate purposes.
The presence of such a large cash balance on a balance sheet that otherwise shows signs of distress is a major red flag for fundamental analysis. Analysts should treat this figure as highly suspect until management provides a clear reconciliation or explanation for the source and accessibility of these funds.
Quick answers to the most common questions about buying PTPI stock.
As of 2025, Petros Pharmaceuticals, Inc. (PTPI) had total assets of $5.16B including $5.16B in current assets.
Petros Pharmaceuticals, Inc. (PTPI) carries total debt of $0.0M, offset by $5.14B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Petros Pharmaceuticals, Inc. (PTPI) has total shareholders' equity (book value) of $2.87B ($10.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Petros Pharmaceuticals, Inc. (PTPI) reported a current ratio of 2.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.