Latest Ratios: P/E Ratio -2.7x · EV/EBITDA N/A · ROE -53.5%. (1996–2025 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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $2.3B | $13.1B | $8.9B | $11.3B | $7.3B | $13.3B | $9.5B | $7.2B | $3.3B | $1.3B |
| Enterprise Value | $2.2B | $2.5B | $13.4B | $9.9B | $12.0B | $6.4B | $12.9B | $9.4B | $7.3B | $3.1B | $1.2B |
| P/E Ratio → | -2.66 | — | 51.96 | — | — | — | — | — | — | — | — |
| P/S Ratio | 0.91 | 1.03 | 6.90 | 7.17 | 12.16 | 10.43 | 24.61 | 24.94 | 24.02 | 21.17 | 246.40 |
| P/B Ratio | 1.74 | 1.98 | 8.59 | 10.37 | 29.47 | 7.89 | 17.45 | 11.61 | 7.00 | 4.15 | 3.97 |
| P/FCF | — | — | — | — | — | — | 526.07 | — | — | — | — |
| P/OCF | — | — | — | — | — | — | 123.67 | — | — | — | — |
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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.13 | 7.02 | 7.95 | 12.86 | 9.05 | 23.85 | 24.69 | 24.18 | 20.08 | 226.80 |
| EV / EBITDA | — | — | 52.21 | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | 47.84 | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | 509.89 | — | — | — | — |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 59.9% | 59.9% | 83.2% | 87.9% | 85.0% | 86.2% | 88.3% | 85.1% | 88.6% | 95.2% | 97.6% |
| Operating Margin | -29.9% | -29.9% | 11.5% | -21.5% | -57.5% | -65.5% | -104.5% | -185.3% | -114.1% | -111.0% | -4920.3% |
| Net Profit Margin | -32.5% | -32.5% | 12.4% | -43.1% | -75.4% | -59.7% | -102.6% | -187.8% | -120.2% | -32.8% | -4930.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -53.5% | -53.5% | 19.7% | -86.2% | -107.2% | -49.6% | -70.1% | -77.3% | -39.7% | -9.0% | -101.4% |
| ROA | -19.5% | -19.5% | 6.5% | -16.8% | -22.4% | -13.7% | -23.1% | -41.3% | -24.5% | -5.9% | -76.6% |
| ROIC | -31.4% | -31.4% | 9.1% | -14.0% | -80.3% | -216.5% | -78.8% | -58.7% | -30.3% | -30.3% | -110.0% |
| ROCE | -24.0% | -24.0% | 7.5% | -10.5% | -20.6% | -17.5% | -27.3% | -46.6% | -25.6% | -21.9% | -95.2% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.91 | 0.91 | 0.88 | 1.63 | 4.20 | 1.24 | 1.44 | 0.90 | 0.41 | 0.55 | 0.05 |
| Debt / EBITDA | — | — | 5.25 | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | 0.21 | 0.16 | 1.13 | 1.69 | -1.04 | -0.54 | -0.12 | 0.05 | -0.21 | -0.32 |
| Net Debt / EBITDA | — | — | 0.94 | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | -16.18 | — | — | — | — |
| Interest Coverage | -71.16 | -71.16 | 15.18 | -22.63 | -11.96 | -5.60 | -8.23 | -22.28 | -9.76 | -7.41 | -140.98 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 2.32 | 2.32 | 4.20 | 3.95 | 4.13 | 5.75 | 5.97 | 5.55 | 8.21 | 13.91 | 4.95 |
| Quick Ratio | 1.48 | 1.48 | 3.18 | 3.45 | 3.80 | 5.34 | 5.42 | 4.90 | 7.49 | 12.96 | 4.78 |
| Cash Ratio | 0.86 | 0.86 | 1.85 | 2.56 | 3.21 | 4.67 | 4.66 | 4.25 | 6.76 | 12.22 | 4.21 |
| Asset Turnover | — | 0.66 | 0.48 | 0.38 | 0.30 | 0.22 | 0.18 | 0.21 | 0.18 | 0.12 | 0.01 |
| Inventory Turnover | 0.96 | 0.96 | 0.43 | 0.47 | 0.69 | 0.52 | 0.27 | 0.33 | 0.27 | 0.09 | 0.01 |
| Days Sales Outstanding | — | 86.28 | 124.69 | 128.28 | 102.34 | 89.83 | 93.65 | 90.03 | 59.47 | 69.58 | 352.01 |
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 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | 1.9% | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | 0.2% | — | — | — | — |
| Buyback Yield | 1.3% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.3% | 1.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $105M | $108M | $92M | $88M | $81M | $78M | $74M | $66M | $59M | $49M |
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying SRPT stock.
Sarepta Therapeutics, Inc.'s current P/E ratio is -2.7x. The historical average is 52.0x.
Sarepta Therapeutics, Inc.'s return on equity (ROE) is -53.5%. The historical average is -83.8%.
Based on historical data, Sarepta Therapeutics, Inc. is trading at a P/E of -2.7x. Compare with industry peers and growth rates for a complete picture.
Sarepta Therapeutics, Inc. has 59.9% gross margin and -29.9% operating margin.
Key Metrics
Top Statement Risk
Revenue volatility and one-time charges
Metrics are mathematically derived from official filings.
Margin Volatility Masks Core Earning Power
Gross margin swung from 87.8% in 2024Q1 to 10.0% in 2025Q4, with 2026Q2 at 62.8%, per reported financials, indicating severe cost and mix instability that obscures underlying profitability.
The extreme gross margin fluctuations, particularly the collapse to 10.0% in 2025Q4, suggest inventory write-downs or one-time cost spikes rather than a structural deterioration, as operating margin also swung from -92.9% to 49.0% within two quarters. Net margin followed suit, ranging from -63.9% to 45.3%, driven by non-operating items and R&D timing. Investors should focus on normalized gross margin excluding one-time charges, which appears to stabilize around 62-75% in recent quarters, to gauge true earning power.
ROIC Swings Reflect Unstable Capital Efficiency
ROIC oscillated from -18.5% in 2025Q4 to 15.6% in 2026Q1, per quarterly data, showing no consistent compounding and highlighting the impact of volatile margins and asset base on capital returns.
The wide ROIC range, from -18.5% to 15.6% within two quarters, indicates that capital efficiency is highly sensitive to quarterly revenue and expense timing, not a stable trend. ROE similarly swung from -33.5% to 25.0%, driven by net income volatility and equity rebuilds from external financing. This suggests the company is not yet generating durable returns on invested capital, and investors should monitor whether recent improvements in 2026Q1 can be sustained.
Working Capital Cycle Stretched by Inventory
Cash conversion cycle ballooned to 660 days in 2026Q2, up from 423 days in 2024Q4, per reported figures, driven by DIO of 580 days, indicating significant inventory buildup and slower cash realization.
The CCC expansion, primarily from DIO rising to 580 days in 2026Q2, suggests inventory management challenges, possibly due to product launches or supply chain issues, which ties up cash and increases working capital needs. DSO also remains elevated at 117 days, indicating slow receivables collection, while DPO is relatively low at 37 days, limiting supplier financing. This combination pressures cash flow and may indicate inefficiencies in converting sales to cash.
Debt Service Comfortable but Cash Buffer Thin
Interest coverage improved to 16.81 in 2026Q1 from 0.92 in 2026Q2, per financial statements, but D/E of 0.68 and cash of $571M against $1.0B debt suggest limited headroom for refinancing.
The sharp improvement in interest coverage in 2026Q1, driven by a profitable quarter, contrasts with the negative coverage in 2025Q4, indicating earnings volatility directly impacts debt service ability. While D/E has declined from 1.44 to 0.68 over two years, the absolute debt of $1.0B remains substantial relative to cash, and negative retained earnings of -$4.6B imply reliance on external financing. Investors should monitor whether coverage remains positive given revenue swings.
Liquidity Ratios Strong but Absolute Cash Declines
Current ratio stands at 4.42 in 2026Q2, per reported data, but cash dropped from $1.1B to $571M over two years, indicating a shrinking absolute liquidity cushion despite high ratios.
The high current and quick ratios (4.42 and 2.62) suggest ample short-term asset coverage, but the absolute cash decline of nearly 50% raises concerns about the ability to fund operations without additional financing. Inventory dependence is evident, as quick ratio is significantly lower than current ratio, and with DIO at 580 days, inventory may not be easily liquidated in stress. This suggests the liquidity position is adequate but not fortress-like, warranting monitoring of cash burn.
P/E Misleading for Loss-Making Biotech
The forward P/E of 5.70 is misleading for a company with negative TTM earnings, as per valuation data, obscuring the true cost of growth and the impact of one-time charges on profitability.
For Sarepta, the forward P/E is based on projected earnings that may not materialize given the extreme quarterly volatility, making it an unreliable metric. Instead, EV/Sales or P/B should be used, with P/S at 0.95 and P/B at 1.81 providing a more stable valuation reference. The negative TTM P/E of -2.77 highlights that current earnings are not representative, and investors should adjust for non-recurring items to assess normalized earning power.