Latest Ratios: P/E Ratio 17.5x · EV/EBITDA 24.8x · ROE 34.1%. (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 | $307M | $483M | $303M | $291M | $283M | $321M | $287M | — | — | — | — |
| Enterprise Value | $356M | $532M | $320M | $263M | $225M | $228M | $224M | — | — | — | — |
| P/E Ratio → | 17.46 | 18.40 | — | — | — | 40.46 | 32.04 | — | — | — | — |
| P/S Ratio | 5.90 | 9.27 | 10.63 | 61.26 | 46.96 | 8.40 | 9.78 | — | — | — | — |
| P/B Ratio | 4.41 | 4.65 | 3.70 | 3.29 | 2.28 | 2.26 | 3.33 | — | — | — | — |
| P/FCF | 107.10 | 168.30 | — | — | — | — | 32.36 | — | — | — | — |
| P/OCF | 107.10 | 168.30 | — | — | — | 14.14 | 28.48 | — | — | — | — |
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 | — | 10.20 | 11.25 | 55.20 | 37.37 | 5.96 | 7.64 | — | — | — | — |
| EV / EBITDA | 24.81 | 37.05 | — | — | — | 12.98 | 17.83 | — | — | — | — |
| EV / EBIT | 31.28 | 46.72 | — | — | — | 12.98 | 16.46 | — | — | — | — |
| EV / FCF | — | 185.24 | — | — | — | — | 25.27 | — | — | — | — |
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 | 94.3% | 94.3% | 99.3% | 97.0% | 95.5% | 99.6% | 99.4% | 93.2% | 68.3% | 85.1% | 74.8% |
| Operating Margin | 21.8% | 21.8% | -140.3% | -879.5% | -288.9% | 45.9% | 42.3% | -21.1% | -318.1% | 32.3% | -1106.4% |
| Net Profit Margin | 60.8% | 60.8% | -48.5% | -858.2% | -283.8% | 41.4% | 45.3% | -10.8% | -251.8% | 27.7% | -962.1% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 34.1% | 34.1% | -16.2% | -38.4% | -12.9% | 13.8% | 20.4% | -6.3% | -108.6% | 252.3% | — |
| ROA | 12.8% | 12.8% | -6.1% | -21.8% | -11.1% | 10.8% | 12.0% | -2.5% | -24.5% | 39.7% | -103.4% |
| ROIC | 6.8% | 6.8% | -37.6% | -49.8% | -22.7% | 36.4% | 42.7% | -37.3% | — | — | — |
| ROCE | 5.2% | 5.2% | -19.4% | -24.0% | -12.1% | 13.2% | 12.4% | -5.4% | -35.3% | 101.1% | -257.8% |
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 | 1.27 | 1.27 | 1.46 | 1.40 | 0.00 | 0.00 | 0.25 | 0.75 | 1.20 | 2.52 | — |
| Debt / EBITDA | 9.16 | 9.16 | — | — | — | 0.01 | 1.69 | — | — | 0.84 | — |
| Net Debt / Equity | — | 0.47 | 0.21 | -0.33 | -0.47 | -0.66 | -0.73 | -0.54 | -1.24 | -4.99 | — |
| Net Debt / EBITDA | 3.39 | 3.39 | — | — | — | -5.31 | -5.00 | — | — | -1.67 | — |
| Debt / FCF | — | 16.94 | — | — | — | — | -7.09 | — | — | -10.79 | — |
| Interest Coverage | 0.87 | 0.87 | -0.41 | -41.24 | — | 38.02 | 7.40 | -0.03 | -13.62 | 14.13 | -12.57 |
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 | 3.37 | 3.37 | 5.15 | 8.68 | 8.98 | 7.48 | 7.16 | 6.76 | 8.35 | 5.95 | 0.84 |
| Quick Ratio | 3.37 | 3.37 | 5.15 | 8.68 | 8.98 | 7.48 | 7.03 | 6.76 | 8.35 | 5.95 | 0.84 |
| Cash Ratio | 2.39 | 2.39 | 4.32 | 7.87 | 8.53 | 7.26 | 6.85 | 6.39 | 8.03 | 5.86 | 0.79 |
| Asset Turnover | — | 0.19 | 0.13 | 0.02 | 0.04 | 0.23 | 0.23 | 0.19 | 0.08 | 1.17 | 0.19 |
| Inventory Turnover | — | — | — | — | — | — | 0.11 | — | — | — | — |
| Days Sales Outstanding | — | 34.27 | 218.01 | 1167.49 | 143.35 | 2.00 | 22.22 | 58.28 | 101.12 | 2.75 | 37.13 |
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 | 1.2% | 1.1% | 1.8% | 1.9% | 1.9% | 1.1% | — | — | — | — | — |
| 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 | 5.7% | 5.4% | — | — | — | 2.5% | 3.1% | — | — | — | — |
| FCF Yield | 0.9% | 0.6% | — | — | — | — | 3.1% | — | — | — | — |
| Buyback Yield | 5.2% | 3.3% | 0.0% | 0.1% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Total Shareholder Yield | 6.4% | 4.5% | 1.8% | 1.9% | 1.9% | 1.1% | 0.0% | — | — | — | — |
| Shares Outstanding | — | $18M | $12M | $11M | $11M | $12M | $12M | $9M | $11M | $11M | $11M |
Clinical Milestone Revenue Dependency
According to current market data, XOMA trades at a P/S ratio of 5.90, which appears to price in significant future milestone success rather than current earnings, as evidenced by the lack of a stable P/E multiple and a forward P/E of 32.46.
The valuation premium suggests investors are assigning value to the optionality of the 70-asset portfolio rather than the immediate cash-generating capacity of the royalty streams. This forward-looking pricing warrants caution, as the implied growth rate requires consistent clinical progression from third-party partners that has historically proven volatile.
Based on reported figures, XOMA's ROIC has fluctuated wildly between -22.6% and 4.3% over the last ten quarters, indicating that the company has yet to establish a consistent track record of generating returns on its invested capital that exceed its cost of funding.
The erratic nature of these returns is a direct consequence of the lumpy milestone revenue model, which periodically inflates the numerator without a corresponding increase in the underlying asset base. Investors should monitor whether the company can stabilize these returns as the portfolio matures and moves toward recurring royalty-based income.
As reported in financial statements, XOMA's asset turnover remains exceptionally low at 0.05, reflecting the company's transition into a passive royalty aggregator where the primary assets are intangible rights rather than revenue-generating physical inventory or high-velocity operational equipment.
The lack of meaningful inventory or receivables turnover metrics highlights the difficulty in applying traditional efficiency ratios to this business model. The high DSO figures observed in recent periods suggest that the timing of milestone payments from partners is the primary driver of working capital efficiency, rather than internal operational speed.
According to recent balance sheet data, XOMA maintains a debt-to-equity ratio of 1.27, which, while manageable in the context of its $82.9M cash position, creates a persistent interest coverage risk given the historical volatility of its operating income.
The reliance on preferred stock and debt to fund royalty acquisitions introduces a fixed-cost burden that may constrain the company during periods of clinical trial failure. The interest coverage ratio, which has swung into negative territory multiple times, suggests that the company remains dependent on external capital or milestone inflows to service its obligations.
The P/E ratio is frequently misapplied to XOMA, as it obscures the reality that the company's earnings are heavily distorted by non-cash fair value adjustments and the lumpy, non-recurring nature of milestone payments that do not reflect sustainable operational profitability.
Investors should instead focus on Price-to-NAV or cash-flow-based metrics, as these better capture the underlying value of the royalty portfolio. Relying on P/E ratios in this context may lead to an inaccurate assessment of the company's true earning power and its ability to sustain dividends.
Includes 30+ ratios · 30 years · Updated daily
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Quick answers to the most common questions about buying XOMAP stock.
XOMA Corporation's current P/E ratio is 17.5x. The historical average is 30.3x.
XOMA Corporation's current EV/EBITDA is 24.8x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 22.6x.
XOMA Corporation's return on equity (ROE) is 34.1%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -89.1%.
Based on historical data, XOMA Corporation is trading at a P/E of 17.5x. Compare with industry peers and growth rates for a complete picture.
XOMA Corporation's current dividend yield is 1.19%.
XOMA Corporation has 94.3% gross margin and 21.8% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
XOMA Corporation's Debt/EBITDA ratio is 9.2x, indicating high leverage. A ratio above 4x may signal elevated financial risk.