Latest Ratios: P/E Ratio -0.4x · EV/EBITDA N/A · ROE -18.0%. (2019–2025 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 |
|---|---|---|---|---|---|---|---|---|
| Market Cap | $140M | $97M | $3M | $664902 | $4M | — | — | — |
| Enterprise Value | $136M | $80M | $-927892 | $-10270450 | $-2099114 | — | — | — |
| P/E Ratio → | -0.38 | — | — | — | — | — | — | — |
| P/S Ratio | — | — | — | — | — | — | — | — |
| P/B Ratio | 3.51 | 0.24 | 2.01 | 0.07 | 0.80 | — | — | — |
| P/FCF | — | — | — | — | — | — | — | — |
| P/OCF | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | — | — | — | — | — | — | — |
| EV / EBITDA | — | — | — | — | — | — | — | — |
| EV / EBIT | — | — | — | — | — | — | — | — |
| EV / FCF | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | — | — | — | — | — | — | — | — |
| Operating Margin | — | — | — | — | — | — | — | — |
| Net Profit Margin | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| ROE | -18.0% | -18.0% | -233.7% | -127.0% | -1973.4% | — | — | — |
| ROA | -13.7% | -13.7% | -166.3% | -105.7% | -231.8% | -481.6% | -1440.3% | -3731.5% |
| ROIC | -8.0% | -8.0% | — | — | — | — | — | — |
| ROCE | -7.8% | -7.8% | -238.2% | -128.9% | -843.6% | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -0.04 | -2.72 | -1.20 | -1.17 | — | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — |
| Interest Coverage | -1484.39 | -1484.39 | -892.37 | -563.62 | -4.32 | -1.65 | -8.81 | -19.32 |
Net cash position: cash ($17M) 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 |
|---|---|---|---|---|---|---|---|---|
| Current Ratio | 5.29 | 5.29 | 1.54 | 6.03 | 5.84 | 0.14 | 0.11 | 0.04 |
| Quick Ratio | 5.29 | 5.29 | 1.54 | 6.03 | 5.84 | 0.14 | 0.11 | 0.04 |
| Cash Ratio | 5.18 | 5.18 | 1.47 | 6.02 | 5.69 | 0.00 | 0.07 | 0.03 |
| Asset Turnover | — | — | — | — | — | — | — | — |
| Inventory Turnover | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | — | — | — | — | — | — | — |
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 |
|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|---|---|---|
| Earnings Yield | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.6% | — | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 1.6% | — | — | — |
| Shares Outstanding | — | $32M | $1M | $87029 | $30178 | $30305 | $27454 | $27454 |
Binary clinical trial dependency
Based on reported figures, Tharimmune trades at a price-to-book ratio of 3.51, which appears to reflect significant market skepticism regarding the company's ability to successfully transition its legacy oncology assets into a viable commercial pipeline centered on the TH104 pruritus program.
The current valuation multiple suggests that investors are heavily discounting the company's intangible assets, likely due to the high concentration of goodwill on the balance sheet. This valuation gap relative to more advanced peers indicates that the market is pricing in a high probability of further dilutive equity raises to fund clinical milestones.
According to recent SEC filings, Tharimmune's ROE of -10.9% in 2026Q1 underscores the company's ongoing struggle to generate productive returns on invested capital while it remains in a pre-revenue, clinical-stage development phase with no offsetting commercial income.
The persistent negative return metrics are a direct consequence of the company's high fixed-cost structure and the absence of revenue generation. Investors should monitor whether the shift toward the TH104 program can eventually improve these returns, though current trends suggest that capital is being consumed rather than compounded.
As reported in financial statements, the current ratio of 37.75 in 2026Q1 appears artificially inflated by recent capital injections, masking the underlying reality that the company's cash runway remains critically thin relative to its escalating administrative and clinical trial expenditure requirements.
While the liquidity position shows a temporary improvement, the lack of operational cash flow means that the company remains entirely dependent on external financing. The volatility in the quick ratio over the past ten quarters suggests that the firm's ability to meet short-term obligations is highly sensitive to the timing of equity-based funding rounds.
Based on a comparison with peers like Mirum Pharmaceuticals, Tharimmune's valuation metrics appear structurally disadvantaged, as the company lacks the mid-to-late stage clinical data that typically drives premium pricing in the competitive biotechnology sector for liver disease therapeutics.
The gap between Tharimmune and its peers is not merely temporary but reflects a fundamental difference in clinical maturity and commercial readiness. Investors should interpret this lag as a reflection of the higher idiosyncratic risk associated with the company's earlier-stage pipeline and its reliance on a single lead asset.
As reported in recent filings, the price-to-book ratio is frequently misapplied to Tharimmune, as it obscures the fact that the majority of the company's book value is comprised of goodwill rather than tangible assets capable of generating future cash flows.
Analysts should instead focus on the cash burn rate and the remaining clinical runway, as these metrics provide a more accurate assessment of the company's survival probability. Relying on P/B in a clinical-stage biotech context may lead to an overestimation of the company's intrinsic value by ignoring the potential for significant asset impairment.
Includes 30+ ratios · 7 years · Updated daily
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Quick answers to the most common questions about buying THAR stock.
Tharimmune, Inc.'s current P/E ratio is -0.4x. This places it at the 50th percentile of its historical range.
Tharimmune, Inc.'s return on equity (ROE) is -18.0%. The historical average is -126.2%.
Based on historical data, Tharimmune, Inc. is trading at a P/E of -0.4x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.