Latest Ratios: P/E Ratio -14.1x · EV/EBITDA N/A · ROE -28.2%. (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 | $1.5B | $1.4B | $368M | — | — |
| Enterprise Value | $1.4B | $1.4B | $313M | — | — |
| P/E Ratio → | -14.12 | — | — | — | — |
| P/S Ratio | — | — | — | — | — |
| P/B Ratio | 3.92 | 2.94 | 1.20 | — | — |
| 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 | — | — | — | — | — |
| 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 | — | — | — | — | — |
| Operating Margin | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| ROE | -28.2% | -28.2% | -56.0% | — | -54.6% |
| ROA | -26.9% | -26.9% | -33.3% | -37.2% | -33.7% |
| ROIC | -27.1% | -27.1% | -79.6% | — | — |
| ROCE | -31.3% | -31.3% | -36.7% | -41.0% | -34.6% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.00 | — | 0.53 |
| Debt / EBITDA | — | — | — | — | — |
| Net Debt / Equity | — | -0.08 | -0.18 | — | -1.06 |
| Net Debt / EBITDA | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — |
| Interest Coverage | — | — | — | — | -36.38 |
Net cash position: cash ($53M) exceeds total debt ($11M)
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Current Ratio | 26.17 | 26.17 | 35.34 | 17.14 | 18.80 |
| Quick Ratio | 26.17 | 26.17 | 35.34 | 17.14 | 18.80 |
| Cash Ratio | 25.75 | 25.75 | 34.82 | 16.75 | 18.74 |
| 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 |
|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — |
| FCF Yield | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $47M | $21M | $18M | $20M |
Clinical trial execution dependency
As reported in recent financial statements, Rapport Therapeutics trades at a price-to-book ratio of 3.88, a valuation that appears to reflect significant market optimism regarding the proprietary RAP-targeting platform rather than current tangible asset value or near-term earnings potential, which remain negative for the clinical-stage firm.
The current P/B multiple suggests investors are pricing in the long-term optionality of the company's neuroanatomical specificity technology. Because the firm lacks meaningful revenue or positive earnings, traditional valuation metrics like P/E are effectively non-informative, forcing the market to rely on speculative premiums that may be highly sensitive to upcoming clinical data readouts.
Based on reported figures, Rapport's ROIC has consistently trended in negative territory, reaching -4.3% in 2026Q1, which underscores the structural reality that the company is currently in a capital-consumption phase where invested funds are utilized for R&D rather than generating immediate returns on invested capital.
The persistent negative ROIC is a direct consequence of the firm's heavy investment in clinical trial execution for RAP-219. Until the company can demonstrate clinical efficacy and move toward commercialization, these returns will likely remain suppressed, reflecting the high-risk nature of early-stage biotechnology development where capital is deployed to de-risk assets.
According to recent quarterly filings, the company maintains a current ratio of 27.08 as of 2026Q1, indicating a strong short-term liquidity position that appears sufficient to fund ongoing clinical trial activities, provided that the current burn rate does not accelerate beyond management's projected development milestones.
The exceptionally high current ratio is typical for a post-IPO biotech firm holding significant cash reserves to fund multi-year clinical programs. While this provides a comfortable cushion against immediate insolvency, investors should monitor the rapid depletion of these assets as the firm scales its patient recruitment and neuro-monitoring efforts.
As disclosed in recent SEC filings, the market's reliance on P/E ratios for Rapport Therapeutics is fundamentally flawed, as the company's negative earnings are a function of R&D investment rather than operational failure, making the P/B ratio a more relevant, albeit still limited, measure of value.
Using P/E to evaluate a pre-revenue clinical-stage firm obscures the reality that R&D expenses are essentially investments in future intellectual property. Analysts should instead focus on cash runway duration and clinical trial enrollment velocity, as these metrics provide a more accurate assessment of the company's ability to reach value-inflection points.
Includes 30+ ratios · 4 years · Updated daily
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Quick answers to the most common questions about buying RAPP stock.
Rapport Therapeutics, Inc. Common Stock's current P/E ratio is -14.1x. This places it at the 50th percentile of its historical range.
Rapport Therapeutics, Inc. Common Stock's return on equity (ROE) is -28.2%. The historical average is -46.3%.
Based on historical data, Rapport Therapeutics, Inc. Common Stock is trading at a P/E of -14.1x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.