Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE N/A. (2020–2025 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 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Market Cap | $66M | $135M | $104M | $266M | $536M | $1.3B | — |
| Enterprise Value | $194M | $262M | $138M | $390M | $535M | $1.5B | — |
| P/E Ratio → | -0.21 | — | — | — | — | — | — |
| P/S Ratio | 2.19 | 4.45 | 1.83 | 5.69 | 14.08 | 42.59 | — |
| P/B Ratio | — | — | — | — | 14.78 | — | — |
| P/FCF | 17.98 | 36.55 | 5.53 | — | — | — | — |
| P/OCF | 17.36 | 35.28 | 5.36 | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 8.67 | 2.45 | 8.35 | 14.06 | 47.39 | — |
| EV / EBITDA | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — |
| EV / FCF | — | 71.19 | 7.38 | — | — | — | — |
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 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 49.7% | 49.7% | 70.5% | 66.5% | 71.6% | 88.4% | 90.9% |
| Operating Margin | -900.1% | -900.1% | -147.4% | -225.6% | -133.1% | -114.4% | -149.7% |
| Net Profit Margin | -1185.8% | -1185.8% | -128.7% | -244.6% | -61.4% | -282.4% | -201.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -64.5% | — | — |
| ROA | -156.7% | -156.7% | -75.0% | -121.7% | -28.4% | -110.9% | -58.3% |
| ROIC | — | — | — | — | -107.1% | — | — |
| ROCE | — | — | — | — | -121.5% | — | -1165.9% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | 0.04 | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | -0.02 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | 34.64 | 1.85 | — | — | — | — |
| Interest Coverage | -31.64 | -31.64 | -36.09 | -106.04 | -1.43 | -6.52 | -2.69 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 0.08 | 0.08 | 0.16 | 0.19 | 0.66 | 0.14 | 0.29 |
| Quick Ratio | 0.07 | 0.07 | 0.15 | 0.17 | 0.63 | 0.12 | 0.27 |
| Cash Ratio | 0.02 | 0.02 | 0.01 | 0.02 | 0.05 | 0.03 | 0.06 |
| Asset Turnover | — | 0.08 | 0.61 | 0.46 | 0.44 | 0.40 | 0.29 |
| Inventory Turnover | 3.18 | 3.18 | 6.85 | 3.72 | 7.84 | 1.42 | 1.88 |
| Days Sales Outstanding | — | 183.92 | 170.55 | 270.16 | 203.79 | 166.29 | 203.35 |
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 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — |
| FCF Yield | 5.6% | 2.7% | 18.1% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 3.8% | 0.0% | 0.0% | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 3.8% | 0.0% | 0.0% | — |
| Shares Outstanding | — | $11M | $7M | $4M | $4M | $4M | $4M |
Imminent liquidity and solvency
As reported in recent financial filings, Scilex trades at a price-to-sales multiple of 2.00, which appears to be a significant discount relative to specialty pharmaceutical peers, suggesting that the market is heavily discounting the company's future growth prospects due to its precarious liquidity and ongoing parent-company litigation.
The low P/S ratio indicates that investors are assigning little value to the company's proprietary patch technology, likely viewing the current revenue stream as unsustainable. This valuation gap warrants caution, as it implies that the market is pricing in a high probability of dilutive financing or a potential restructuring event.
Based on the provided quarterly data, gross margins have exhibited extreme volatility, collapsing from historical peaks near 73% to just 12.3% in 2025Q4, which suggests that the company's core ZTlido product is facing severe pricing pressure or escalating manufacturing costs that erode its fundamental earning power.
The persistent negative operating margins, which reached -900% in recent periods, highlight a structural inability to cover fixed corporate overhead with current revenue levels. Investors should monitor whether these margin contractions are temporary artifacts of restructuring or a permanent shift in the company's competitive cost profile.
According to recent financial statements, the company's cash conversion cycle remains deeply negative, with days sales outstanding reaching 236 days in 2026Q1, indicating that Scilex is struggling to collect on its receivables while simultaneously managing an extremely high days payable outstanding of 1901 days.
This extreme divergence in working capital metrics suggests that the company is likely delaying payments to suppliers to preserve its dwindling cash reserves. Such aggressive management of payables may indicate that the firm is facing significant pressure from its vendor base, which could disrupt future supply chain operations.
As reported in the 2026Q1 balance sheet, the company's current ratio has plummeted to 0.08, a level that underscores an acute inability to meet near-term obligations and highlights the severe risk posed by the company's minimal cash reserves of approximately $4.95 million against its ongoing burn rate.
The current liquidity position appears insufficient to support the company's clinical development and operational requirements without immediate external capital. This vulnerability suggests that the firm may be forced into highly dilutive financing arrangements, which would further exacerbate the existing pressure on shareholder equity.
The most commonly misapplied metric for Scilex is the price-to-sales ratio, which obscures the company's underlying liquidity crisis and the high probability of equity dilution, making it a poor indicator of value for a firm with negative equity and a massive cash burn rate.
Instead of relying on revenue multiples, analysts should focus on the cash runway and the burn-to-liquidity ratio to assess the company's viability as a going concern. Using P/S in this context ignores the reality that the company's current revenue is insufficient to cover its operational and debt-servicing costs.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying SCLX stock.
Scilex Holding Company's current P/E ratio is -0.2x. This places it at the 50th percentile of its historical range.
Based on historical data, Scilex Holding Company is trading at a P/E of -0.2x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Scilex Holding Company has 49.7% gross margin and -900.1% operating margin.