Latest Ratios: P/E Ratio -0.2x · EV/EBITDA N/A · ROE N/A. (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 | $4M | $15M | $79M | $82M | $192M | $190M | $398M | $132M | $296M | $685M | $979M |
| Enterprise Value | $137M | $148M | $175M | $146M | $244M | $264M | $475M | $197M | $348M | $723M | $999M |
| P/E Ratio → | -0.18 | — | — | — | — | 223.44 | — | — | 124.46 | — | — |
| P/S Ratio | 0.09 | 0.34 | 1.28 | 1.45 | 3.08 | 2.35 | 3.90 | 1.46 | 3.05 | 6.91 | 9.83 |
| P/B Ratio | — | — | — | — | — | — | — | 27.94 | 6.73 | 10.51 | 9.01 |
| P/FCF | — | — | — | — | — | 41.87 | 29.37 | — | — | — | — |
| P/OCF | — | — | — | — | — | 14.38 | 16.76 | 24.05 | 42.72 | 56.59 | 71.10 |
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 | — | 3.37 | 2.84 | 2.57 | 3.90 | 3.25 | 4.66 | 2.18 | 3.58 | 7.29 | 10.02 |
| EV / EBITDA | — | — | — | — | — | 39.46 | 150.42 | 34.22 | 46.86 | 67.68 | 74.99 |
| EV / EBIT | — | — | — | — | — | 33.59 | 4027.05 | — | — | — | — |
| EV / FCF | — | — | — | — | — | 57.98 | 35.05 | — | — | — | — |
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 | 38.6% | 38.6% | 34.8% | 34.2% | 35.3% | 41.2% | 47.6% | 42.2% | 42.7% | 42.3% | 43.3% |
| Operating Margin | -26.1% | -26.1% | -34.4% | -47.6% | -24.4% | 4.9% | 0.1% | 1.0% | 3.4% | 5.5% | 7.5% |
| Net Profit Margin | -85.4% | -85.4% | -51.6% | -42.3% | -65.6% | 1.1% | -6.3% | -4.5% | 2.5% | -40.6% | -101.0% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | -512.3% | -16.7% | 4.4% | -46.3% | -62.4% |
| ROA | -35.9% | -35.9% | -39.1% | -31.7% | -38.9% | 0.7% | -4.9% | -2.9% | 1.4% | -18.2% | -33.1% |
| ROIC | -14.1% | -14.1% | -31.7% | -39.3% | -16.8% | 4.0% | 0.1% | 0.8% | 2.5% | 3.6% | 3.3% |
| ROCE | -65.0% | -65.0% | -36.6% | -45.4% | -32.8% | 6.5% | 0.1% | 0.7% | 2.2% | 2.8% | 2.7% |
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 | — | — | — | — | — | — | — | 17.40 | 1.85 | 1.45 | 0.89 |
| Debt / EBITDA | — | — | — | — | — | 14.84 | 33.03 | 14.23 | 11.00 | 8.88 | 7.25 |
| Net Debt / Equity | — | — | — | — | — | — | — | 13.92 | 1.17 | 0.57 | 0.18 |
| Net Debt / EBITDA | — | — | — | — | — | 10.96 | 24.38 | 11.38 | 6.92 | 3.49 | 1.46 |
| Debt / FCF | — | — | — | — | — | 16.11 | 5.68 | — | — | — | — |
| Interest Coverage | -1.83 | -1.83 | -1.96 | -2.55 | -0.77 | 1.11 | 0.02 | -4.19 | -3.56 | -6.38 | -7.77 |
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 | 0.25 | 0.25 | 1.28 | 2.60 | 2.69 | 0.72 | 3.08 | 3.67 | 4.92 | 5.30 | 5.28 |
| Quick Ratio | 0.12 | 0.12 | 0.68 | 1.27 | 1.39 | 0.43 | 1.96 | 2.02 | 3.20 | 3.76 | 3.99 |
| Cash Ratio | 0.04 | 0.04 | 0.16 | 0.25 | 0.38 | 0.26 | 1.01 | 0.84 | 1.72 | 2.71 | 3.05 |
| Asset Turnover | — | 0.42 | 0.60 | 0.96 | 0.68 | 0.68 | 0.78 | 0.69 | 0.64 | 0.51 | 0.40 |
| Inventory Turnover | 1.43 | 1.43 | 2.07 | 1.88 | 2.34 | 1.88 | 1.77 | 1.63 | 1.83 | 1.75 | 1.73 |
| Days Sales Outstanding | — | 85.71 | 86.60 | 85.94 | 91.39 | 70.66 | 88.03 | 90.38 | 94.86 | 78.38 | 73.86 |
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 | — | — | — | — | — | 0.4% | — | — | 0.8% | — | — |
| FCF Yield | — | — | — | — | — | 2.4% | 3.4% | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 1.1% | 1.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | 1.1% | 1.0% |
| Shares Outstanding | — | $19M | $18M | $8M | $8M | $5M | $4M | $5M | $5M | $5M | $6M |
Insolvency and liquidity risk
As reported in recent financial filings, Trinity Biotech trades at a P/S multiple of 0.09, a valuation level that suggests the market is pricing in extreme execution risk and potential insolvency rather than the optionality of its pivot toward continuous glucose monitoring technology.
The lack of meaningful P/E or EV/EBITDA multiples underscores the company's current inability to generate positive earnings or sustainable cash flow. Investors should interpret this depressed valuation as a signal that the market views the current business model as a distressed asset rather than a growth-oriented diagnostic firm.
Based on the latest quarterly data, Trinity Biotech's gross margin has contracted to 32.1% in 2025Q4, indicating that the firm is struggling to maintain pricing power or manufacturing efficiency compared to its historical performance and broader industry standards for diagnostic reagent providers.
The persistent operating margin of -26.6% suggests that the company's fixed-cost structure remains fundamentally misaligned with its current revenue base. This decoupling of expenses from top-line performance warrants further investigation into whether the company can achieve the scale necessary to reach profitability without significant further restructuring.
According to recent financial statements, the company's cash conversion cycle has fluctuated significantly, reaching -30 days in 2025Q4, which appears to be driven more by aggressive management of payables than by organic improvements in inventory turnover or customer collection efficiency.
The high days inventory outstanding, which reached 232 days in 2025Q4, suggests a potential buildup of slow-moving diagnostic stock that may require future write-downs. This inefficiency in managing working capital further exacerbates the company's already precarious liquidity position.
As indicated by the 2025Q4 balance sheet, the current ratio has plummeted to 0.25, a sharp decline from the 3.44 observed in 2023Q3, which highlights an acute liquidity crisis that leaves the firm with minimal buffer to absorb operational shocks or fund necessary R&D investments.
The rapid deterioration of the quick ratio to 0.12 suggests that the company is heavily reliant on inventory liquidation to meet short-term obligations, which is a high-risk strategy given the current revenue contraction. This liquidity profile warrants close monitoring as it may necessitate dilutive financing.
Investors frequently misapply traditional P/E or EV/EBITDA multiples to Trinity Biotech, failing to recognize that the company's current financial profile is that of a distressed venture-stage entity rather than a mature, stable diagnostic firm with predictable cash flows.
Using standard valuation multiples obscures the reality that the company's primary value is tied to the unproven success of its CGM transition rather than its legacy diagnostic business. Analysts should instead focus on liquidity runway and cash burn metrics to assess the firm's survival probability.
Includes 30+ ratios · 30 years · Updated daily
DCF models, multiple analysis, and analyst estimates.
10-year return with dividends reinvested.
See how regular investing compounds over time.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying TRIB stock.
Trinity Biotech plc's current P/E ratio is -0.2x. The historical average is 89.0x.
Based on historical data, Trinity Biotech plc is trading at a P/E of -0.2x. Compare with industry peers and growth rates for a complete picture.
Trinity Biotech plc has 38.6% gross margin and -26.1% operating margin.