Latest Ratios: P/E Ratio 2837.5x · EV/EBITDA 40.3x · ROE 4.0%. (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 | $1.6B | $1.4B | $498M | $324M | $180M | $232M | $210M | $184M | $205M | — | — |
| Enterprise Value | $1.5B | $1.3B | $697M | $485M | $256M | $252M | $259M | $223M | $191M | — | — |
| P/E Ratio → | 2837.50 | 2453.12 | — | — | — | — | — | — | — | — | — |
| P/S Ratio | 5.37 | 4.65 | 2.45 | 1.97 | 1.64 | 4.67 | 10.27 | 67.63 | 83.08 | — | — |
| P/B Ratio | 114.58 | 99.06 | — | — | 3.99 | 2.43 | 6.21 | 12.75 | 2.72 | — | — |
| P/FCF | 56.13 | 48.55 | — | — | — | — | — | — | — | — | — |
| P/OCF | 54.76 | 47.37 | — | — | — | — | — | — | — | — | — |
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 | — | 4.40 | 3.43 | 2.96 | 2.33 | 5.09 | 12.69 | 81.87 | 77.47 | — | — |
| EV / EBITDA | 40.33 | 34.62 | — | — | — | — | — | — | — | — | — |
| EV / EBIT | 60.02 | 2315.44 | — | — | — | — | — | — | — | — | — |
| EV / FCF | — | 45.93 | — | — | — | — | — | — | — | — | — |
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 | 81.7% | 81.7% | 81.9% | 82.5% | 79.5% | 73.1% | 54.4% | 41.1% | 98.3% | 99.7% | 99.3% |
| Operating Margin | 8.5% | 8.5% | -16.6% | -26.8% | -74.3% | -232.2% | -408.8% | -4496.0% | -2407.5% | -1711.4% | -1230.8% |
| Net Profit Margin | 0.2% | 0.2% | -27.0% | -38.0% | -85.9% | -247.5% | -446.0% | -4613.5% | -2437.3% | -1706.6% | -1228.7% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 4.0% | 4.0% | — | -324.2% | -134.8% | -190.3% | -378.2% | -279.6% | -683.7% | — | — |
| ROA | 0.2% | 0.2% | -17.0% | -18.7% | -29.2% | -53.0% | -68.0% | -109.7% | -72.8% | -67.6% | -39.4% |
| ROIC | 33.8% | 33.8% | -15.5% | -23.9% | -51.8% | -86.7% | -91.9% | -159.9% | — | — | — |
| ROCE | 10.0% | 10.0% | -15.0% | -17.7% | -33.0% | -64.6% | -78.6% | -127.8% | -79.1% | -74.9% | -42.7% |
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 | 2.76 | 2.76 | — | — | 4.38 | 0.92 | 2.58 | 4.04 | 0.42 | — | — |
| Debt / EBITDA | 1.02 | 1.02 | — | — | — | — | — | — | — | — | — |
| Net Debt / Equity | — | -5.35 | — | — | 1.68 | 0.22 | 1.46 | 2.69 | -0.18 | — | — |
| Net Debt / EBITDA | -1.98 | -1.98 | — | — | — | — | — | — | — | — | — |
| Debt / FCF | — | -2.62 | — | — | — | — | — | — | — | — | — |
| Interest Coverage | 0.02 | 0.02 | -0.80 | -1.39 | -5.81 | -16.09 | -10.95 | -16.60 | -22.61 | -13277.00 | -6603.50 |
Net cash position: cash ($111M) exceeds total debt ($38M)
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 | 2.19 | 2.19 | 1.67 | 1.64 | 2.54 | 1.80 | 5.40 | 3.20 | 11.59 | 9.06 | 13.13 |
| Quick Ratio | 1.57 | 1.57 | 1.19 | 1.23 | 2.20 | 1.57 | 5.10 | 3.12 | 11.59 | 9.06 | 13.13 |
| Cash Ratio | 1.01 | 1.01 | 0.71 | 0.76 | 1.66 | 1.30 | 4.74 | 2.76 | 11.07 | 8.65 | 12.77 |
| Asset Turnover | — | 0.76 | 0.63 | 0.51 | 0.32 | 0.16 | 0.13 | 0.02 | 0.02 | 0.03 | 0.03 |
| Inventory Turnover | 0.78 | 0.78 | 0.76 | 0.74 | 0.92 | 0.74 | 1.12 | 0.74 | — | — | — |
| Days Sales Outstanding | — | 63.85 | 72.64 | 87.28 | 102.07 | 128.48 | 122.80 | 629.30 | 424.82 | 281.26 | 34.29 |
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 | 0.0% | 0.0% | — | — | — | — | — | — | — | — | — |
| FCF Yield | 1.8% | 2.1% | — | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.7% | 0.8% | 0.8% | 0.3% | 0.3% | 0.2% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.7% | 0.8% | 0.8% | 0.3% | 0.3% | 0.2% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $173M | $147M | $138M | $136M | $79M | $43M | $26M | $12M | $2M | $2M |
Includes 30+ ratios · 10 years · Updated daily
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10-year return with dividends reinvested.
Compare growth, multiples, and margins vs sector.
Quick answers to the most common questions about buying XERS stock.
Xeris Biopharma Holdings, Inc.'s current P/E ratio is 2837.5x. This places it at the 50th percentile of its historical range.
Xeris Biopharma Holdings, Inc.'s current EV/EBITDA is 40.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 34.6x.
Xeris Biopharma Holdings, Inc.'s return on equity (ROE) is 4.0%. The historical average is -217.2%.
Based on historical data, Xeris Biopharma Holdings, Inc. is trading at a P/E of 2837.5x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Xeris Biopharma Holdings, Inc. has 81.7% gross margin and 8.5% operating margin.
Xeris Biopharma Holdings, Inc.'s Debt/EBITDA ratio is 1.0x, indicating moderate leverage. A ratio below 2x is generally considered financially healthy.
Key Metrics
Top Statement Risk
Debt refinancing and negative equity
Metrics are mathematically derived from official filings.
Margin Expansion Masks Earnings Volatility
Gross margin improved to 86.4% in 2026Q2 from 75.0% in 2024Q3, while operating margin turned positive at 5.6%, yet net margin swung to -33.8%, per financial statements.
The gross margin expansion suggests a favorable product mix and pricing power, but the net margin deterioration in 2026Q2, despite positive operating income, indicates significant non-operating charges, likely including interest expense and possibly non-cash items. Investors should monitor the sustainability of operating leverage as revenue scales, given the historical volatility in net income.
ROIC Turns Positive Amidst Negative Equity
ROIC reached 8.0% in 2026Q2, up from -6.1% in 2024Q1, while ROE turned negative at -19.0% due to negative equity, as reported in quarterly data.
The positive ROIC suggests that the company is generating returns on invested capital, but the negative equity position complicates ROE interpretation. The improvement in ROIC appears driven by margin expansion and asset efficiency, though the high debt levels may distort the capital base. The negative equity warrants close monitoring as it may indicate accumulated losses exceeding equity, potentially leading to covenant issues.
Working Capital Cycle Lengthens on Inventory
Cash conversion cycle extended to 545 days in 2026Q2 from 324 days in 2024Q3, driven by DIO of 564 days, while DSO improved to 57 days, per quarterly data.
The significant inventory holding period suggests either strategic stockpiling or potential obsolescence risk, which could tie up cash and increase carrying costs. The improvement in DSO indicates better receivables collection, but the overall CCC remains elevated, implying that working capital efficiency is a drag on cash flow. Management may need to address inventory levels to free up liquidity.
Debt Surge Strains Coverage Ratios
Total debt jumped to $289.4M in 2026Q2 from $37.8M in 2025Q4, pushing D/EBITDA to 35.27 and interest coverage to -3.48, per latest balance sheet.
The dramatic increase in debt, likely from a refinancing event, has severely weakened leverage metrics. Negative interest coverage indicates that operating income is insufficient to cover interest expenses, raising concerns about debt serviceability. The negative equity further complicates the capital structure, and investors should monitor refinancing risk and covenant compliance closely.
Liquidity Buffer Thins Despite Cash Infusion
Current ratio fell to 1.45 in 2026Q2 from 2.19 in 2025Q4, while cash rose to $121.7M, as per balance sheet data, indicating a thinner short-term buffer.
Although cash increased, the decline in the current ratio suggests that current liabilities grew faster than current assets, possibly due to the new debt. The quick ratio of 1.02 indicates that excluding inventory, the company still has adequate short-term coverage, but the reliance on inventory may be risky if demand falters. The liquidity position appears adequate but less robust than before, warranting monitoring under stress scenarios.
Misapplied Metric: P/E on Negative Earnings
The trailing P/E of 2687.50 is misleading given the company's volatile net income, which swung to a -$31.1M loss in 2026Q2, per SEC filings.
Using P/E for a company with inconsistent earnings can distort valuation. A more appropriate metric is EV/EBITDA, which at 38.09 reflects the company's operating performance and capital structure, though it remains elevated. Alternatively, EV/Sales at 5.09 may provide a more stable comparison, but investors should consider the company's path to profitability and cash flow generation, as FCF margin turned positive at 19.1% in 2026Q2.