Last 27 quarters of trend data · Healthcare · Biotechnology
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | -8.02 | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| P/S Ratio | 159.20 | 149.12 | 51.84 | — | 218.82 | 14.44 | — | — | — | 27.13 | — | 10.20 | 3210.74 |
| — | +933.1% | — | — | — | -46.8% | — | — | — | -98.8% | — | -99.4% | +157.6% | |
| P/B Ratio | 3.91 | 2.79 | 2.56 | 1.48 | 0.89 | 0.61 | 0.89 | 1.18 | 1.27 | 1.46 | 1.79 | 1.32 | 1.89 |
| — | +353.2% | +188.8% | +25.1% | -29.9% | -57.8% | -50.6% | -10.4% | -32.7% | -35.6% | -5.6% | -46.8% | -19.2% | |
| P/FCF | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Relay Therapeutics, Inc.'s operating margin was -2619.7% in Q1 2026, down 1753.5 pp QoQ and down 1514.5 pp YoY. The trailing four-quarter average of -4945.6% lags the current quarter, suggesting the recent improvement is above-trend.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 76.8% | — | 91.4% | — | 100.0% | 100.0% | — | — | — | 100.0% | 100.0% | -223.4% | -74018.5% |
| — | — | — | — | — | 0.0% | — | — | — | +100.3% | +100.4% | +98.8% | -349.2% | |
| Operating Margin | -1971.6% | -2619.7% | -866.2% | — | -11351.1% | -1105.2% | — | — | — | -903.0% | 9219600.0% | -291.9% | -89117.6% |
| — | -137.0% | — | — | — | -22.4% | — | — | — | +98.0% | +32118.2% | +98.8% | -318.0% | |
| Net Margin | -1800.6% | -2443.0% | -784.1% | — | -10395.1% | -1003.6% | — | — | — | -813.3% | 8349500.0% | -260.8% | -82777.3% |
| — | -143.4% | — | — | — | -23.4% | — | — | — | +98.0% | +31393.8% | +98.9% | -293.5% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -41.1% | -12.1% | -9.3% | -11.6% | -10.1% | -10.3% | -9.4% | -11.6% | -12.9% | -10.9% | -10.9% | -8.3% | -11.6% |
| — | -17.9% | +0.6% | -0.5% | +21.4% | +5.4% | +13.8% | -40.0% | -11.1% | -5.7% | -57.6% | +12.5% | -22.8% | |
| ROA | -37.0% | -11.1% | -8.5% | -10.6% | -9.2% | -9.2% | -8.4% | -10.3% | -11.4% | -9.7% | -9.5% | -7.0% | -9.9% |
| — | -20.3% | -0.7% | -2.4% | +19.4% | +4.5% | +11.5% | -47.1% | -16.0% | -9.5% | -60.3% | +14.0% | -18.0% | |
| ROIC | -37.3% | -12.0% | -8.5% | -10.6% | -9.1% | -9.2% | -8.9% | -10.8% | -12.1% | -10.4% | -10.3% | -7.9% | -10.6% |
| — | -29.5% | +3.6% | +1.9% | +24.7% | +10.8% | +13.9% | -37.5% | -14.5% | +46.2% | +32.7% | +14.5% | -30.8% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
The current ratio has improved 10.9% YoY to 22.13x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.06 | 0.05 | 0.06 | 0.05 | 0.05 | 0.07 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 |
| — | -24.8% | -8.2% | -7.6% | -31.5% | -6.8% | -12.3% | -15.3% | +9.0% | +9.2% | +17.0% | +16.3% | +143.5% | |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — | |
| Current Ratio | 22.61 | 22.13 | 22.61 | 19.14 | 20.92 | 19.96 | 15.95 | 18.42 | 15.64 | 20.73 | 25.44 | 16.39 | 12.36 |
| — | +10.9% | +41.7% | +3.9% | +33.8% | -3.7% | -37.3% | +12.4% | +26.5% | +52.4% | +59.0% | +7.7% | -36.6% | |
| Quick Ratio | 22.61 | 22.13 | 22.61 | 19.14 | 20.92 | 19.96 | 15.95 | 18.42 | 15.64 | 20.73 | 25.44 | 16.39 | 12.36 |
| — | +10.9% | +41.7% | +3.9% | +33.8% | -3.7% | -37.3% | +12.4% | +26.5% | +54.3% | +60.9% | +7.7% | -36.6% | |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — | — | — | — |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 27 years · Updated daily
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Relay Therapeutics, Inc.'s current P/E is -8.0x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Relay Therapeutics, Inc.'s current operating margin is -1971.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Relay Therapeutics, Inc.'s business trajectory between earnings reports.