Latest Ratios: P/E Ratio -2.6x · 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 | $179M | $265M | $133M | $224M | $297M | $309M | — |
| Enterprise Value | $193M | $279M | $148M | $213M | $290M | $278M | — |
| P/E Ratio → | -2.57 | — | — | — | — | — | — |
| P/S Ratio | 3.97 | 5.86 | 4.51 | 12.08 | 23.95 | 36.75 | — |
| P/B Ratio | — | — | — | — | — | 9.99 | — |
| 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 |
|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.17 | 5.02 | 11.53 | 23.35 | 33.14 | — |
| 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 |
|---|---|---|---|---|---|---|---|
| Gross Margin | 84.6% | 84.6% | 86.1% | 85.9% | 81.8% | 85.8% | — |
| Operating Margin | -59.7% | -59.7% | -122.9% | -294.3% | -293.9% | -286.1% | — |
| Net Profit Margin | -86.9% | -86.9% | -112.9% | -320.7% | -380.6% | -343.4% | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | -508.0% | -93.3% | — |
| ROA | -132.3% | -132.3% | -136.8% | -254.8% | -157.7% | -125.5% | -391.6% |
| ROIC | — | — | — | — | — | -2994.0% | — |
| ROCE | -143.4% | -143.4% | -305.8% | -549.6% | -345.4% | -76.4% | — |
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 | — | — | — | — | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — |
| Net Debt / Equity | — | — | — | — | — | -0.98 | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — |
| Interest Coverage | -4.86 | -4.86 | -10.72 | -3708.63 | -47177.00 | -13.65 | — |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|---|
| Current Ratio | 2.80 | 2.80 | 2.02 | 1.42 | 0.53 | 5.51 | 0.11 |
| Quick Ratio | 2.54 | 2.54 | 1.63 | 1.25 | 0.49 | 5.31 | 0.10 |
| Cash Ratio | 1.78 | 1.78 | 0.83 | 0.80 | 0.29 | 4.75 | 0.08 |
| Asset Turnover | — | 1.28 | 1.23 | 0.75 | 0.56 | 0.22 | — |
| Inventory Turnover | 2.26 | 2.26 | 1.01 | 1.02 | 1.54 | 0.92 | — |
| Days Sales Outstanding | — | 53.01 | 63.09 | 70.08 | 45.84 | 58.96 | — |
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 | — | — | — | — | — | — | — |
| Buyback Yield | 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% | — |
| Shares Outstanding | — | $38M | $27M | $26M | $30M | $31M | $31M |
Liquidity and financing dependence
According to current market data, TLSI trades at a price-to-sales multiple of 3.97, which suggests investors are pricing in significant future growth from the drug-device combination pipeline rather than valuing the company as a traditional, volume-driven medical device manufacturer with established, predictable cash flows.
The current P/S multiple reflects a premium over legacy interventional oncology peers, implying that the market expects the PEDD technology to unlock substantial addressable markets in pancreatic and liver cancer. However, this valuation remains highly sensitive to clinical trial outcomes for SD-101, as the absence of a positive P/E or FCF multiple leaves little margin for error if commercial adoption rates decelerate.
Based on reported quarterly figures, the company's cash conversion cycle has exhibited extreme instability, with DIO fluctuating between 166 and 341 days, indicating that inventory management remains a significant challenge as the firm attempts to scale its TriNav distribution network across diverse hospital systems.
The erratic nature of the CCC suggests that the company is struggling to balance the need for sufficient inventory to support rapid market entry with the risk of obsolescence or overstocking. Investors should monitor whether the DSO trend stabilizes, as any sustained increase in collection times could further exacerbate the company's existing liquidity constraints.
As reported in recent financial statements, TLSI's debt-to-equity ratio has reached 2.69, signaling an increasing reliance on external financing to bridge the gap between its high-growth commercial ambitions and the persistent, deep operating losses that characterize its current stage of development.
The negative interest coverage ratio highlights that the company is not currently generating sufficient operating income to service its debt obligations, making it highly vulnerable to shifts in credit market conditions. This leverage profile warrants close scrutiny, as the firm's ability to refinance or secure additional capital will be critical to maintaining its current operational trajectory.
Data from recent filings indicates that the P/S ratio is the most commonly misapplied metric for TLSI, as it obscures the underlying cash burn and the binary nature of the company's transition from a device-only revenue model to a potential drug-device platform.
Relying solely on revenue multiples ignores the heavy R&D expenditure required to support the SD-101 pipeline, which effectively masks the true earning power of the core TriNav device business. Analysts should instead focus on the cash-to-burn ratio and the rate of hospital VAC approvals to better assess the company's long-term viability and capital requirements.
Includes 30+ ratios · 6 years · Updated daily
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Quick answers to the most common questions about buying TLSI stock.
TriSalus Life Sciences, Inc.'s current P/E ratio is -2.6x. This places it at the 50th percentile of its historical range.
Based on historical data, TriSalus Life Sciences, Inc. is trading at a P/E of -2.6x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
TriSalus Life Sciences, Inc. has 84.6% gross margin and -59.7% operating margin.