ARS Pharmaceuticals, Inc. (SPRY) Financial Ratios
8 years of historical data (2018–2025) · Healthcare · Biotechnology
EV/EBITDA
N/A
—
5yr avg: N/A
P/FCF
N/A
—
5yr avg: 83.19
30Y Low83.2·High197.2
P/B Ratio
↑
7.54
↑+70% vs avg
5yr avg: 4.44
30Y Low1.2·High10.1
ROE
↓
-92.3%
↑-165% vs avg
5yr avg: -34.8%
30Y Low-381%·High3%
Debt/EBITDA
N/A
—
5yr avg: N/A
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
SPRY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
ARS Pharmaceuticals, 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 | $868M | $1.1B | $1.1B | $522M | $341M | $192M | $1.6B | — | — |
| Enterprise Value | $826M | $1.1B | $1.0B | $451M | $131M | $141M | $1.6B | — | — |
| P/E Ratio → | -5.02 | — | 135.08 | — | — | — | — | — | — |
| P/S Ratio | 10.30 | 13.63 | 12.12 | 17392.67 | 258.99 | 34.92 | 90.16 | — | — |
| P/B Ratio | 7.54 | 10.05 | 4.21 | 2.26 | 1.25 | — | — | — | — |
| P/FCF | — | — | 83.19 | — | — | — | 197.21 | — | — |
| P/OCF | — | — | 79.73 | — | — | — | 177.27 | — | — |
P/E links to full P/E history page with 30-year chart
SPRY EV Ratios
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 | — | 13.13 | 11.55 | 15036.10 | 99.38 | 25.66 | 89.35 | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | 79.28 | — | — | — | 195.43 | — | — |
SPRY Profitability
Margins and return-on-capital ratios measuring operating efficiency
ARS Pharmaceuticals, Inc. earns an operating margin of -212.9%. Operating margins have expanded from -225066.7% to -212.9% over the past 3 years, signaling improving operational efficiency. A negative ROE of -92.3% indicates the company is currently destroying shareholder equity.
Margins
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 | — | — | 76.9% | 100.0% | 100.0% | 96.1% | 21.1% | — | — |
| Operating Margin | -212.9% | -212.9% | -3.5% | -225066.7% | -2698.8% | -353.3% | -2.6% | — | — |
| Net Profit Margin | -203.3% | -203.3% | 9.0% | -181216.7% | -2635.4% | -367.7% | -6.0% | — | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | -92.3% | -92.3% | 3.3% | -21.6% | -28.7% | — | — | -380.6% | -96.6% |
| ROA | -50.5% | -50.5% | 2.7% | -21.1% | -20.2% | -46.1% | -5.1% | -111.0% | -63.8% |
| ROIC | -96.5% | -96.5% | -1.3% | -45.4% | — | — | — | -621.1% | — |
| ROCE | -58.2% | -58.2% | -1.1% | -26.6% | -21.6% | -54.5% | -5.9% | -239.2% | -81.8% |
SPRY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $41M exceeds total debt of $0, 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 | — | — | 0.00 | 0.00 | 0.00 | — | — | — | 0.43 |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.36 | -0.20 | -0.31 | -0.77 | — | — | — | -0.68 |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | -3.91 | — | — | — | -1.78 | — | — |
| Interest Coverage | — | — | — | — | — | -183.53 | -16.17 | — | — |
Net cash position: cash ($41M) exceeds total debt ($0)
SPRY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
ARS Pharmaceuticals, Inc.'s current ratio of 7.28x 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 96.85x to 7.28x 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 | 7.28 | 7.28 | 14.26 | 96.85 | 51.01 | 7.42 | 3.21 | 0.59 | 4.04 |
| Quick Ratio | 7.06 | 7.06 | 14.04 | 96.85 | 51.01 | 7.42 | 3.21 | 0.59 | 4.04 |
| Cash Ratio | 6.26 | 6.26 | 13.40 | 95.51 | 50.40 | 7.34 | 2.99 | 0.56 | 3.92 |
| Asset Turnover | — | 0.26 | 0.25 | 0.00 | 0.00 | 0.09 | 0.68 | — | — |
| Inventory Turnover | — | — | 3.94 | — | — | — | — | — | — |
| Days Sales Outstanding | — | 109.78 | 37.51 | 9672.50 | — | 0.07 | 7.86 | — | — |
SPRY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
ARS Pharmaceuticals, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business.
Dividends
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 | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 0.7% | — | — | — | — | — | — |
| FCF Yield | — | — | 1.2% | — | — | — | 0.5% | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $99M | $102M | $95M | $40M | $29M | $35M | $33M | $33M |
Peer Comparison
Compare SPRY 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 |
|---|---|---|---|---|---|---|---|---|---|
 SPRYYou | $868M | -5.0 | — | — | — | -212.9% | -92.3% | -96.5% | — |
 ADMA | $2B | 13.6 | 9.8 | 70.5 | 57.4% | 37.5% | 35.6% | 36.0% | 0.4 |
 PRAX | $10B | -24.5 | — | — | — | — | -45.8% | -65.0% | — |
 NTRA | $28B | -127.8 | — | 252.3 | 64.8% | -13.4% | -14.3% | -36.1% | — |
 TLRY | $648M | -0.2 | — | — | 29.3% | -277.9% | -89.1% | -66.2% | — |
 HALO | $8B | 25.0 | 8.2 | 11.7 | 78.1% | 58.4% | 153.6% | 73.4% | — |
 AVDL | $2B | -42.4 | — | — | 91.0% | -25.1% | -60.4% | -76.3% | — |
 ABBV | $356B | 85.0 | 14.9 | 20.0 | 70.2% | 32.8% | 6214.7% | 23.9% | 2.4 |
 ALK | $5B | 46.9 | 10.0 | — | 59.7% | 2.1% | 2.4% | 2.3% | 6.3 |
 MCK | $90B | 28.6 | 18.4 | 17.3 | 3.5% | 1.2% | — | 540.6% | 1.5 |
 CAH | $43B | 28.5 | 15.9 | 23.4 | 3.7% | 1.0% | — | 3378.7% | 3.0 |
| Healthcare Median | — | 22.2 | 14.4 | 18.6 | 64.0% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
See SPRY's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs SPRY Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare SPRY vs ADMA
Side-by-side business, growth, and profitability comparison vs ADMA Biologics, Inc..
Start ComparisonSPRY — Frequently Asked Questions
Quick answers to the most common questions about buying SPRY stock.
What is ARS Pharmaceuticals, Inc.'s P/E ratio?
ARS Pharmaceuticals, Inc.'s current P/E ratio is -5.0x. The historical average is 135.1x.
What is ARS Pharmaceuticals, Inc.'s ROE?
ARS Pharmaceuticals, Inc.'s return on equity (ROE) is -92.3%. The historical average is -102.8%.
Is SPRY stock overvalued?
Based on historical data, ARS Pharmaceuticals, Inc. is trading at a P/E of -5.0x. Compare with industry peers and growth rates for a complete picture.
What are ARS Pharmaceuticals, Inc.'s profit margins?
ARS Pharmaceuticals, Inc. has -212.9% operating margin.