8 years of historical data (2018–2025) · Healthcare · Biotechnology
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Relay Therapeutics, Inc. currently has a negative P/E ratio, indicating the company is operating at a loss on a trailing-twelve-month basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.8B | $1.5B | $589M | $1.3B | $1.7B | $2.9B | $3.7B | — | — |
| Enterprise Value | $1.7B | $1.4B | $513M | $1.3B | $736M | $2.7B | $3.3B | — | — |
| P/E Ratio → | -6.37 | — | — | — | — | — | — | — | — |
| P/S Ratio | 116.18 | 94.54 | 58.82 | 52.83 | 1214.17 | 964.56 | 45.35 | — | — |
| P/B Ratio | 3.10 | 2.56 | 0.76 | 1.79 | 1.76 | 3.25 | 4.91 | — | — |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 91.18 | 51.25 | 49.30 | 532.65 | 879.64 | 40.23 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — | — |
Margins and return-on-capital ratios measuring operating efficiency
Relay Therapeutics, Inc. earns an operating margin of -1971.6%. Operating margins have compressed from -1460.1% to -1971.6% over the past 3 years, signaling potential cost pressures or competitive headwinds. A negative ROE of -41.1% indicates the company is currently destroying shareholder equity.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | 100.0% | 100.0% | 100.0% | 100.0% | 95.7% | — | — |
| Operating Margin | -1971.6% | -1971.6% | -3722.1% | -1460.1% | -21670.9% | -12040.2% | -67.5% | — | — |
| Net Profit Margin | -1800.6% | -1800.6% | -3374.7% | -1338.7% | -21036.1% | -12012.9% | -63.4% | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -41.1% | -41.1% | -44.2% | -40.2% | -31.4% | -43.8% | -18.0% | — | — |
| ROA | -37.0% | -37.0% | -39.4% | -35.2% | -27.6% | -40.2% | -8.8% | -16.2% | -11.4% |
| ROIC | -37.3% | -37.3% | -41.0% | -83.4% | -69.1% | -55.8% | -58.7% | — | — |
| ROCE | -42.7% | -42.7% | -45.6% | -40.3% | -29.6% | -41.2% | -9.6% | -20.9% | -11.8% |
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $84M exceeds total debt of $32M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.06 | 0.06 | 0.07 | 0.06 | 0.03 | 0.03 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.09 | -0.10 | -0.12 | -0.99 | -0.29 | -0.55 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($84M) exceeds total debt ($32M)
Short-term solvency ratios and asset-utilisation metrics
Relay Therapeutics, Inc.'s current ratio of 22.61x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has declined from 25.44x to 22.61x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 22.61 | 22.61 | 15.95 | 25.44 | 16.00 | 40.14 | 56.49 | 30.08 | 61.78 |
| Quick Ratio | 22.61 | 22.61 | 15.95 | 25.44 | 15.81 | 40.14 | 56.49 | 30.08 | 61.78 |
| Cash Ratio | 3.28 | 3.28 | 15.40 | 24.78 | 15.68 | 39.39 | 49.74 | 29.69 | 61.40 |
| Asset Turnover | — | 0.02 | 0.01 | 0.03 | 0.00 | 0.00 | 0.10 | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | 1379.39 | 595.28 | 365.00 | — | — |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Relay Therapeutics, Inc. returns 0.1% to shareholders annually primarily through share buybacks.
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 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.1% | 0.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $172M | $143M | $123M | $112M | $95M | $90M | $4M | $2M |
Compare RLAY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
| RLAYYou | $2B | -6.4 | — | — | — | -1971.6% | -41.1% | -37.3% | — |
| RVMD | $20B | -17.1 | — | — | — | — | -58.1% | -54.3% | — |
| INCY | $20B | 15.8 | 11.9 | 14.8 | 91.5% | 26.1% | 29.9% | 51.1% | 0.0 |
| GMAB | $18B | 15.4 | 14.9 | 15.1 | 95.4% | 31.1% | 23.0% | 22.2% | 0.1 |
| EXEL | $12B | 15.8 | 13.2 | 13.4 | — | 37.6% | 35.5% | 32.1% | 0.2 |
| IBRX | $10B | -15.8 | — | — | 100.0% | -2334.2% | — | — | — |
| MRUS | $7B | -26.9 | — | — | 37.2% | -753.0% | -41.4% | -74.6% | — |
| CELC | $5B | -39.5 | — | — | — | — | -87.5% | -50.3% | — |
| CGON | $5B | -41.7 | — | — | 100.0% | -10067.3% | -19.2% | -26.3% | — |
| ERAS | $4B | -19.8 | — | — | — | — | -43.7% | -39.2% | — |
| IDYA | $3B | -25.2 | — | — | 97.9% | -72.8% | -10.9% | -12.4% | — |
| Healthcare Median | — | 23.7 | 13.8 | 18.8 | 65.8% | -6.3% | -37.3% | -15.0% | 3.1 |
Peers based on L4 peer group classification. Compare multiple stocks →
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonRelay Therapeutics, Inc.'s current P/E ratio is -6.4x. This places it at the 50th percentile of its historical range.
Relay Therapeutics, Inc.'s return on equity (ROE) is -41.1%. The historical average is -36.4%.
Based on historical data, Relay Therapeutics, Inc. is trading at a P/E of -6.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Relay Therapeutics, Inc. has -1971.6% operating margin.