Latest Ratios: P/E Ratio -266.7x · EV/EBITDA N/A · ROE -2.4%. (2017–2025 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $1.9B | $596M | $231M | $359M | $881M | $2.1B | $509M | — | — |
| Enterprise Value | $1.9B | $1.8B | $470M | $42M | $248M | $738M | $1.8B | $286M | — | — |
| P/E Ratio → | -266.67 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 10.81 | 10.19 | 16.30 | 26.36 | 28.94 | — | — | — | — | — |
| P/B Ratio | 5.38 | 5.33 | 2.60 | 1.45 | 1.94 | 4.05 | 7.25 | 2.27 | — | — |
| P/FCF | 44.37 | 41.85 | — | — | — | — | — | — | — | — |
| P/OCF | 43.72 | 41.23 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 9.74 | 12.86 | 4.79 | 19.98 | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 39.97 | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | — | — | — | — | — |
| Operating Margin | -11.2% | -11.2% | -277.3% | -1307.2% | -841.2% | — | — | — | — | — |
| Net Profit Margin | -3.7% | -3.7% | -243.4% | -1192.5% | -814.7% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -2.4% | -2.4% | -45.8% | -60.8% | -50.2% | -34.1% | -20.5% | -19.6% | -24.1% | — |
| ROA | -2.0% | -2.0% | -35.6% | -43.2% | -40.8% | -32.0% | -19.8% | -19.2% | -22.8% | -227.9% |
| ROIC | -8.3% | -8.3% | -206.8% | -392.7% | -105.7% | -173.9% | -4437.6% | -3291.3% | — | — |
| ROCE | -7.0% | -7.0% | -47.3% | -54.4% | -46.8% | -33.9% | -20.8% | -21.6% | -24.6% | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.24 | -0.55 | -1.19 | -0.60 | -0.66 | -1.00 | -0.99 | -1.00 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -1.88 | — | — | — | — | — | — | — | — |
| Interest Coverage | — | — | — | — | — | — | — | — | — | — |
Net cash position: cash ($84M) exceeds total debt ($0)
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.28 | 5.28 | 5.81 | 6.99 | 7.77 | 13.37 | 25.73 | 55.12 | 43.03 | 0.51 |
| Quick Ratio | 5.28 | 5.28 | 5.81 | 6.99 | 7.77 | 13.37 | 25.73 | 55.12 | 43.03 | 0.51 |
| Cash Ratio | 4.92 | 4.92 | 5.41 | 6.53 | 7.31 | 12.83 | 25.15 | 54.25 | 42.72 | 0.48 |
| Asset Turnover | — | 0.44 | 0.13 | 0.04 | 0.05 | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 15.65 | 6.99 | 2.66 | 17.30 | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | 2.3% | 2.4% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 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% | 0.0% | — | — |
| Shares Outstanding | — | $59M | $54M | $44M | $39M | $37M | $33M | $18M | $24M | $24M |
Binary clinical trial dependency
According to current market data, STOK trades at a price-to-sales ratio of 10.81, which, as noted in recent financial disclosures, suggests that investors are valuing the company based on the speculative peak sales potential of its TANGO platform rather than any current, sustainable earnings stream.
The P/S multiple of 10.81 is significantly detached from traditional fundamental valuation metrics, reflecting the market's focus on the probability of success for STK-001. Given the absence of forward P/E or EBITDA multiples, the valuation appears to be entirely driven by the potential for future milestone achievements and eventual commercialization rather than current operational performance.
As reported in financial statements, STOK's ROIC has remained consistently negative, reaching -15.7% in 2026Q1, which underscores the company's current status as a capital-intensive, pre-commercial entity that is effectively destroying invested capital to fund the development of its proprietary RNA-based therapeutic pipeline.
The volatility in ROIC, including a brief positive spike in 2025Q1, is a direct consequence of lumpy milestone revenue recognition rather than operational efficiency. Investors should monitor this metric as a proxy for the company's ability to eventually generate returns once clinical development costs stabilize and commercial revenue begins to materialize.
Based on historical data, STOK's asset turnover remains extremely low at 0.01, which, as indicated in recent filings, highlights the company's lack of productive commercial assets and its heavy reliance on external collaboration funding to sustain its ongoing research and development activities.
The erratic nature of the cash conversion cycle and DSO metrics reflects the timing of milestone payments from partners like Acadia rather than standard customer-supplier dynamics. This lack of operational rhythm suggests that traditional efficiency ratios are currently poor indicators of the company's underlying business health or management's ability to optimize working capital.
As reported in financial statements, STOK's current ratio of 8.99 in 2026Q1 appears superficially strong, yet this figure masks the rapid depletion of cash reserves, which have fallen significantly from their peak, warranting concern regarding the company's ability to fund long-term clinical trials without further dilution.
While the high current ratio suggests an ability to meet short-term obligations, the underlying cash burn rate indicates that the company's liquidity position is highly sensitive to the timing of future milestone payments. Investors should view this liquidity as a finite runway that will likely necessitate additional capital raises if clinical readouts do not trigger further non-dilutive funding.
Analysts frequently misapply net margin and P/E ratios to STOK, which, as evidenced by the 2025Q1 anomaly, obscures the reality that these figures are driven by non-recurring milestone payments rather than the company's actual ability to generate sustainable, recurring profit from its core therapeutic operations.
Using net margin to evaluate STOK is fundamentally flawed because it fails to account for the lumpy, project-based nature of collaboration revenue. A more appropriate metric for this business model would be the 'cash burn rate' or 'net operating loss excluding milestone payments,' which provides a clearer view of the company's true operational sustainability.
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Quick answers to the most common questions about buying STOK stock.
Stoke Therapeutics, Inc.'s current P/E ratio is -266.7x. This places it at the 50th percentile of its historical range.
Stoke Therapeutics, Inc.'s return on equity (ROE) is -2.4%. The historical average is -32.2%.
Based on historical data, Stoke Therapeutics, Inc. is trading at a P/E of -266.7x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Stoke Therapeutics, Inc. has 100.0% gross margin and -11.2% operating margin.