Saturday 17 October 2026
Export ETON’s income statement to Excel — free account
Eton Pharmaceuticals, Inc.
ETON Healthcare Drug Manufacturers Specialty & Generic
Eton Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $80.0 million, up 104.9% from fiscal 2024. In the quarter to June 2026, revenue grew 98.6%, EPS grew 520.0%, free cash flow fell 8.78% and total debt fell 7.54%, each against the same quarter a year earlier. Revenue growth for three consecutive years.
50.40
0.93
−1.81%
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| Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | — | — | — | 4 | 3 | 5 | 3 | 5 |
P/E ratio |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Altman Z-Score |
— | — | 3.88 | 2.27 | 3.25 | (1.80) | 0.83 | 2.75 | 3.55 |
P/S ratio |
— | — | 0.00 | 4,379.78 | 4.95 | 3.42 | 3.72 | 8.84 | 5.69 |
Altman Z″-Score (non-manufacturers) |
— | — | (12.87) | (11.58) | (5.11) | (10.95) | (7.75) | (2.54) | (2.05) |
P/FCF ratio |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 36.20 | 0.00 | 220.99 |
P/Operating CF |
— | — | (33.23) | (23.78) | (21.13) | 25.59 | 304.16 | (450.88) | (39.39) |
Beneish M-Score |
— | — | — | — | 490.55 | (5.53) | (3.02) | (1.53) | (2.24) |
P/B ratio |
— | — | 12.12 | 10.91 | 6.13 | 5.56 | 7.61 | 14.12 | 17.40 |
Price to Tangible BV |
— | — | 13.02 | 11.32 | 7.72 | 8.73 | 10.96 | 0.00 | 0.00 |
EV/Sales |
— | — | 0.00 | 4,014.34 | 4.60 | 2.95 | 3.35 | 9.33 | 5.75 |
EV/EBITDA |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 117.97 |
EV/Operating CF |
— | — | (6.68) | (7.01) | (21.27) | 13.02 | 15.54 | 375.56 | 43.67 |
EV/FCF |
— | — | (6.30) | (6.99) | (24.65) | (51.59) | 32.56 | (40.23) | 223.23 |
Quick Ratio |
16.59 | 13.21 | 6.39 | 5.63 | 4.36 | 2.81 | 1.53 | 1.02 | 0.98 |
Current Ratio |
16.76 | 13.59 | 7.65 | 6.51 | 5.18 | 3.10 | 1.65 | 2.06 | 1.57 |
Net Debt/EBITDA |
1.84 | 2.61 | 0.41 | 0.54 | 8.73 | 1.56 | 92.00 | (43.49) | 1.18 |
Debt/Assets |
0.00% | 0.00% | 27.37% | 26.76% | 24.32% | 25.64% | 16.95% | 39.16% | 33.17% |
Debt/Equity |
0.00 | 0.00 | 0.44 | 0.45 | 0.38 | 0.49 | 0.35 | 1.22 | 1.17 |
Asset Turnover |
0.00 | 0.00 | 0.04 | 0.00 | 0.81 | 0.81 | 1.11 | 0.72 | 0.95 |
Operating CF/Net income |
0.55 | 0.22 | 0.98 | 0.80 | 2.41 | (0.53) | (7.28) | (0.25) | (2.29) |
Capex/Depreciation |
0.00 | (3.75) | (3.99) | (0.06) | (4.20) | (1.47) | (0.76) | (4.44) | (0.07) |
| (88.93%) | (383.23%) | (99.42%) | (213.41%) | (11.74%) | (58.75%) | (6.56%) | (19.16%) | (18.19%) | |
| (41.36%) | (178.26%) | (80.71%) | (128.92%) | (7.27%) | (34.37%) | (3.30%) | (7.09%) | (5.47%) | |
ROIC |
0.00% | 0.00% | (368.25%) | (1,200.88%) | (9.43%) | (161.83%) | 0.00% | (4.13%) | (1.71%) |
Return on Tangible Assets |
(68.47%) | (141.82%) | (129.35%) | (128.79%) | (10.20%) | (66.26%) | (8.78%) | (18.11%) | (20.52%) |
Average Days of Receivables |
— | — | 180.03 | 449.23 | 91.47 | 31.81 | 39.35 | 50.16 | 53.67 |
Research and Development Expense of Revenue |
0.00% | 0.00% | 1,204.90% | 36,164.10% | 28.56% | 18.80% | 10.50% | 8.34% | 9.71% |
Selling, General and Administrative Expense of Revenue |
0.00% | 0.00% | 787.49% | 32,333.33% | 65.34% | 87.44% | 59.83% | 58.32% | 44.80% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.04 | 0.02 | 0.13 | 0.19 | 0.15 | 0.46 | 0.34 |
Share Based Compensation of Revenue |
— | 0.00% | 196.87% | 6,605.13% | 15.49% | 19.85% | 9.91% | 8.11% | 6.89% |
Graham Net Nets |
— | — | 0.07 | 0.08 | 0.13 | 0.11 | 0.09 | (0.03) | (0.01) |
Graham Number |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Earnings Yield |
— | — | (14.31%) | (16.73%) | (1.63%) | (12.11%) | (0.65%) | (1.13%) | (1.01%) |
Free Cash Flow Yield |
— | — | (14.95%) | (13.11%) | (3.77%) | (1.67%) | 2.76% | (2.62%) | 0.45% |
Revenue per Share |
0.00 | 0.00 | 0.05 | 0.00 | 0.87 | 0.85 | 1.23 | 1.51 | 2.97 |
Operating CF per Share |
(0.27) | (1.27) | (1.01) | (1.06) | (0.19) | 0.19 | 0.27 | 0.04 | 0.39 |
Capex per Share |
0.00 | (0.04) | (0.10) | 0.00 | (0.10) | (0.11) | (0.03) | (0.39) | (0.01) |
Free Cash Flow per Share |
(0.27) | (1.31) | (1.12) | (1.07) | (0.29) | 0.08 | 0.24 | (0.35) | 0.38 |
Cash per Share |
0.75 | 4.17 | 0.68 | 1.01 | 0.57 | 0.65 | 0.83 | 0.58 | 0.96 |
Shareholders Equity per Share |
(0.39) | 4.10 | 0.59 | 0.75 | 0.70 | 0.52 | 0.60 | 0.94 | 0.97 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
(0.39) | 4.10 | 0.59 | 0.75 | 0.70 | 0.52 | 0.60 | 0.94 | 0.97 |
Free Cash Flow |
(4.72) | (8.38) | (19.87) | (22.40) | (7.28) | 2.03 | 6.04 | (9.04) | 10.19 |
Working Capital |
12.50 | 25.48 | 13.05 | 20.91 | 19.05 | 13.54 | 10.60 | 21.07 | 22.09 |
Capital Expenditures |
(0.13) | (0.24) | (1.85) | (0.05) | (2.56) | (2.79) | (0.77) | (10.01) | (0.33) |
Net Current Asset Value |
(7.02) | 25.48 | 8.49 | 14.05 | 13.77 | 8.05 | 10.58 | (10.67) | (5.38) |
EV/EBIT |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Capex to Sales |
— | 0.00 | 1.92 | 1.28 | 0.12 | 0.13 | 0.02 | 0.26 | 0.00 |
Price to Operating Income |
— | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other line items | |||||||||
Depreciation/Fixed assets |
0.11 | 0.08 | 0.41 | 0.95 | 5.30 | 26.40 | 17.55 | 66.32 | 14.54 |
Cash ROIC |
(75.10%) | (15.80%) | (72.82%) | (50.90%) | (18.80%) | 5.68% | 14.30% | (13.08%) | 12.33% |
Accounts Receivable Turnover |
— | — | 3.68 | 0.15 | 7.91 | 5.80 | 12.02 | 8.89 | 9.34 |
Accounts Payable Turnover |
0.01 | 0.06 | 0.45 | 0.30 | 1.37 | 3.92 | 5.86 | 5.19 | 4.91 |
Inventory Turnover |
0.00 | 0.00 | 0.56 | 0.54 | 3.16 | 12.53 | 14.42 | 1.93 | 2.43 |
Average Days of Payables |
15,133.46 | 8,232.78 | 463.30 | 1,962.29 | 229.04 | 92.97 | 63.75 | 97.50 | 107.67 |
Days of Inventory on Hand |
0.00 | 0.00 | 306.18 | 1,039.75 | 71.01 | 29.32 | 31.43 | 356.39 | 151.25 |
Average Receivables |
— | — | 0.26 | 0.26 | 2.76 | 3.66 | 2.63 | 4.39 | 8.56 |
Average Payables |
0.98 | 0.98 | 1.00 | 1.46 | 2.06 | 1.77 | 1.81 | 3.01 | 7.57 |
Average Inventory |
— | — | 0.81 | 0.81 | 0.90 | 0.55 | 0.73 | 8.07 | 15.33 |
Average Assets |
20.89 | 20.89 | 22.70 | 21.70 | 26.89 | 26.25 | 28.39 | 53.93 | 84.12 |
Average Common Equity |
9.71 | 9.71 | 18.43 | 13.11 | 16.65 | 15.35 | 14.28 | 19.95 | 25.29 |
Columns are period end dates