Latest Ratios: P/E Ratio -3.9x · EV/EBITDA N/A · ROE -240.4%. (2016–2025 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 | $69M | $89M | $36M | $332M | $94M | $248M | $288M | $396M | $203M | — | — |
| Enterprise Value | $41M | $60M | $36M | $308M | $61M | $275M | $314M | $387M | $192M | — | — |
| P/E Ratio → | -3.87 | — | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 1.95 | 2.49 | 4.79 | 64.77 | 10.40 | 20.64 | — | — | — | — | — |
| P/B Ratio | 2.80 | 3.58 | — | 16.79 | 2.35 | 7.60 | 8.72 | 6.09 | 2.26 | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.69 | 4.74 | 60.08 | 6.78 | 22.95 | — | — | — | — | — |
| 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 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 90.3% | 90.3% | 63.8% | 85.4% | 92.0% | 96.1% | — | — | — | — | — |
| Operating Margin | -33.6% | -33.6% | -871.3% | -1283.4% | -235.8% | -257.6% | — | — | — | — | — |
| Net Profit Margin | -50.3% | -50.3% | -1012.1% | -1307.5% | -271.1% | -292.3% | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | -240.4% | -240.4% | -1546.6% | -224.1% | -67.4% | -107.0% | -92.9% | -36.5% | -50.1% | — | — |
| ROA | -35.3% | -35.3% | -112.8% | -106.1% | -39.2% | -45.5% | -63.8% | -35.2% | -40.9% | -92.6% | -351.7% |
| ROIC | — | — | — | -3274.9% | -47.3% | -38.7% | -52.2% | -33.4% | -51.7% | — | — |
| ROCE | -42.8% | -42.8% | -147.0% | -124.3% | -56.5% | -89.9% | -80.6% | -38.9% | -44.7% | -103.7% | -1530.4% |
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 | 0.07 | 0.07 | — | 2.30 | 0.04 | 1.33 | 1.13 | 0.00 | — | — | — |
| Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -1.15 | — | -1.22 | -0.82 | 0.85 | 0.80 | -0.14 | -0.11 | — | — |
| Net Debt / EBITDA | — | — | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | — | — | — | — | — | — | — | — | — | — |
| Interest Coverage | -1.31 | -1.31 | -7.14 | -15.91 | -10.27 | -7.17 | -13.08 | — | — | -2228.50 | — |
Net cash position: cash ($30M) exceeds total debt ($2M)
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 | 2.59 | 2.59 | 1.76 | 4.55 | 11.31 | 1.61 | 1.71 | 19.39 | 36.80 | 14.75 | 1.30 |
| Quick Ratio | 2.45 | 2.45 | 1.68 | 4.49 | 11.31 | 1.61 | 1.71 | 19.39 | 36.80 | 14.75 | 1.30 |
| Cash Ratio | 1.83 | 1.83 | 1.60 | 4.09 | 9.91 | 1.53 | 1.66 | 18.51 | 36.26 | 14.06 | 1.26 |
| Asset Turnover | — | 0.75 | 0.14 | 0.06 | 0.20 | 0.15 | — | — | — | — | — |
| Inventory Turnover | 1.54 | 1.54 | 1.11 | 0.73 | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 55.37 | 3.71 | 314.57 | 19.68 | — | — | — | — | — | — |
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 | — | — | — | — | — | — | — | — | — | — | — |
| FCF Yield | — | — | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 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% | 0.0% | — | — |
| Shares Outstanding | — | $11M | $5M | $5M | $3M | $3M | $2M | $2M | $2M | $3M | $3M |
Capital dilution and liquidity
According to recent market data, VRCA trades at a price-to-sales multiple of 2.05, which appears to price in significant future growth expectations that remain unvalidated by the company's current inability to achieve consistent, profitable commercial scale in the competitive dermatology market space.
The current valuation multiple suggests that investors are assigning a premium to the potential of the YCANTH pipeline rather than its current revenue generation. This pricing appears aggressive when compared to peers, as it assumes a successful expansion into the common wart indication without accounting for the high probability of further dilutive capital raises.
Based on reported figures, the company's cash conversion cycle remains highly erratic, fluctuating from 70 days in 2024Q3 to 285 days in 2024Q2, which indicates significant challenges in managing inventory levels and accounts receivable during the initial stages of the YCANTH product launch.
The extreme variance in the cash conversion cycle suggests that the company has not yet established a stable operational rhythm with its distributors. This inefficiency, combined with high days-sales-outstanding, implies that the company may be facing friction in converting its product shipments into actual cash inflows.
As reported in financial statements, the company's current ratio of 2.02 in 2026Q1 masks a precarious liquidity position, as the rapid burn rate of cash reserves suggests that the current assets may be insufficient to sustain operations without external financing within the next twelve months.
While the current ratio appears adequate on the surface, the underlying cash burn rate indicates that the company is heavily reliant on external capital to fund its ongoing commercialization efforts. Investors should monitor the quick ratio closely, as it highlights the company's dependence on inventory liquidation to meet short-term obligations.
The market's reliance on the price-to-sales ratio for VRCA is fundamentally flawed, as it obscures the significant gross-to-net adjustments and non-recurring milestone payments that distort the company's true organic revenue growth and long-term commercial viability in the specialty dermatology sector.
Using P/S as a primary valuation metric fails to account for the high cost of customer acquisition and the potential for payer-driven margin compression. A more appropriate focus would be on the reorder rate and net revenue per patient, which provide a clearer picture of the product's actual market penetration and durability.
Includes 30+ ratios · 10 years · Updated daily
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Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying VRCA stock.
Verrica Pharmaceuticals Inc.'s current P/E ratio is -3.9x. This places it at the 50th percentile of its historical range.
Verrica Pharmaceuticals Inc.'s return on equity (ROE) is -240.4%. The historical average is -116.9%.
Based on historical data, Verrica Pharmaceuticals Inc. is trading at a P/E of -3.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Verrica Pharmaceuticals Inc. has 90.3% gross margin and -33.6% operating margin.