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Friday 6 November 2026
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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.
- Revenue
- +157.9%
- EPS
- +1,857.1%
- Free cash flow
- +172.6%
- Total debt
- −24.0%
Quarter to September 2026, against a year earlier
54.86
7.71
+16.35%
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| Dec '25 | Dec '24 | Dec '23 | Dec '22 | Dec '21 | Dec '20 | Dec '19 | Dec '18 | Dec '17 | |
|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
5 | 3 | 5 | 3 | 4 | — | — | — | — |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
Altman Z-Score |
3.55 | 2.75 | 0.83 | (1.80) | 3.25 | 2.27 | 3.88 | — | — |
P/S ratio |
5.69 | 8.84 | 3.72 | 3.42 | 4.95 | 4,379.78 | 0.00 | — | — |
Altman Z″-Score (non-manufacturers) |
(2.05) | (2.54) | (7.75) | (10.95) | (5.11) | (11.58) | (12.87) | — | — |
P/FCF ratio |
220.99 | 0.00 | 36.20 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
P/Operating CF |
(39.39) | (450.88) | 304.16 | 25.59 | (21.13) | (23.78) | (33.23) | — | — |
Beneish M-Score |
(2.24) | (1.53) | (3.02) | (5.53) | 490.55 | — | — | — | — |
P/B ratio |
17.40 | 14.12 | 7.61 | 5.56 | 6.13 | 10.91 | 12.12 | — | — |
Price to Tangible BV |
0.00 | 0.00 | 10.96 | 8.73 | 7.72 | 11.32 | 13.02 | — | — |
EV/Sales |
5.75 | 9.33 | 3.35 | 2.95 | 4.60 | 4,014.34 | 0.00 | — | — |
EV/EBITDA |
117.97 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
EV/Operating CF |
43.67 | 375.56 | 15.54 | 13.02 | (21.27) | (7.01) | (6.68) | — | — |
EV/FCF |
223.23 | (40.23) | 32.56 | (51.59) | (24.65) | (6.99) | (6.30) | — | — |
Quick Ratio |
0.98 | 1.02 | 1.53 | 2.81 | 4.36 | 5.63 | 6.39 | 13.21 | 16.59 |
Current Ratio |
1.57 | 2.06 | 1.65 | 3.10 | 5.18 | 6.51 | 7.65 | 13.59 | 16.76 |
Net Debt/EBITDA |
1.18 | (43.49) | 92.00 | 1.56 | 8.73 | 0.54 | 0.41 | 2.61 | 1.84 |
Debt/Assets |
33.17% | 39.16% | 16.95% | 25.64% | 24.32% | 26.76% | 27.37% | 0.00% | 0.00% |
Debt/Equity |
1.17 | 1.22 | 0.35 | 0.49 | 0.38 | 0.45 | 0.44 | 0.00 | 0.00 |
Asset Turnover |
0.95 | 0.72 | 1.11 | 0.81 | 0.81 | 0.00 | 0.04 | 0.00 | 0.00 |
Operating CF/Net income |
(2.29) | (0.25) | (7.28) | (0.53) | 2.41 | 0.80 | 0.98 | 0.22 | 0.55 |
Capex/Depreciation |
(0.07) | (4.44) | (0.76) | (1.47) | (4.20) | (0.06) | (3.99) | (3.75) | 0.00 |
| (18.19%) | (19.16%) | (6.56%) | (58.75%) | (11.74%) | (213.41%) | (99.42%) | (383.23%) | (88.93%) | |
| (5.47%) | (7.09%) | (3.30%) | (34.37%) | (7.27%) | (128.92%) | (80.71%) | (178.26%) | (41.36%) | |
ROIC |
(1.71%) | (4.13%) | 0.00% | (161.83%) | (9.43%) | (1,200.88%) | (368.25%) | 0.00% | 0.00% |
Return on Tangible Assets |
(20.52%) | (18.11%) | (8.78%) | (66.26%) | (10.20%) | (128.79%) | (129.35%) | (141.82%) | (68.47%) |
Average Days of Receivables |
53.67 | 50.16 | 39.35 | 31.81 | 91.47 | 449.23 | 180.03 | — | — |
Research and Development Expense of Revenue |
9.71% | 8.34% | 10.50% | 18.80% | 28.56% | 36,164.10% | 1,204.90% | 0.00% | 0.00% |
Selling, General and Administrative Expense of Revenue |
44.80% | 58.32% | 59.83% | 87.44% | 65.34% | 32,333.33% | 787.49% | 0.00% | 0.00% |
Intangible Assets out of Total Assets |
0.34 | 0.46 | 0.15 | 0.19 | 0.13 | 0.02 | 0.04 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
6.89% | 8.11% | 9.91% | 19.85% | 15.49% | 6,605.13% | 196.87% | 0.00% | — |
Graham Net Nets |
(0.01) | (0.03) | 0.09 | 0.11 | 0.13 | 0.08 | 0.07 | — | — |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
Earnings Yield |
(1.01%) | (1.13%) | (0.65%) | (12.11%) | (1.63%) | (16.73%) | (14.31%) | — | — |
Free Cash Flow Yield |
0.45% | (2.62%) | 2.76% | (1.67%) | (3.77%) | (13.11%) | (14.95%) | — | — |
Revenue per Share |
2.97 | 1.51 | 1.23 | 0.85 | 0.87 | 0.00 | 0.05 | 0.00 | 0.00 |
Operating CF per Share |
0.39 | 0.04 | 0.27 | 0.19 | (0.19) | (1.06) | (1.01) | (1.27) | (0.27) |
Capex per Share |
(0.01) | (0.39) | (0.03) | (0.11) | (0.10) | 0.00 | (0.10) | (0.04) | 0.00 |
Free Cash Flow per Share |
0.38 | (0.35) | 0.24 | 0.08 | (0.29) | (1.07) | (1.12) | (1.31) | (0.27) |
Cash per Share |
0.96 | 0.58 | 0.83 | 0.65 | 0.57 | 1.01 | 0.68 | 4.17 | 0.75 |
Shareholders Equity per Share |
0.97 | 0.94 | 0.60 | 0.52 | 0.70 | 0.75 | 0.59 | 4.10 | (0.39) |
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 |
0.97 | 0.94 | 0.60 | 0.52 | 0.70 | 0.75 | 0.59 | 4.10 | (0.39) |
Free Cash Flow |
10.19 | (9.04) | 6.04 | 2.03 | (7.28) | (22.40) | (19.87) | (8.38) | (4.72) |
Working Capital |
22.09 | 21.07 | 10.60 | 13.54 | 19.05 | 20.91 | 13.05 | 25.48 | 12.50 |
Capital Expenditures |
(0.33) | (10.01) | (0.77) | (2.79) | (2.56) | (0.05) | (1.85) | (0.24) | (0.13) |
Net Current Asset Value |
(5.38) | (10.67) | 10.58 | 8.05 | 13.77 | 14.05 | 8.49 | 25.48 | (7.02) |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — |
Capex to Sales |
0.00 | 0.26 | 0.02 | 0.13 | 0.12 | 1.28 | 1.92 | 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 |
14.54 | 66.32 | 17.55 | 26.40 | 5.30 | 0.95 | 0.41 | 0.08 | 0.11 |
Cash ROIC |
12.33% | (13.08%) | 14.30% | 5.68% | (18.80%) | (50.90%) | (72.82%) | (15.80%) | (75.10%) |
Accounts Receivable Turnover |
9.34 | 8.89 | 12.02 | 5.80 | 7.91 | 0.15 | 3.68 | — | — |
Accounts Payable Turnover |
4.91 | 5.19 | 5.86 | 3.92 | 1.37 | 0.30 | 0.45 | 0.06 | 0.01 |
Inventory Turnover |
2.43 | 1.93 | 14.42 | 12.53 | 3.16 | 0.54 | 0.56 | 0.00 | 0.00 |
Average Days of Payables |
107.67 | 97.50 | 63.75 | 92.97 | 229.04 | 1,962.29 | 463.30 | 8,232.78 | 15,133.46 |
Days of Inventory on Hand |
151.25 | 356.39 | 31.43 | 29.32 | 71.01 | 1,039.75 | 306.18 | 0.00 | 0.00 |
Average Receivables |
8.56 | 4.39 | 2.63 | 3.66 | 2.76 | 0.26 | 0.26 | — | — |
Average Payables |
7.57 | 3.01 | 1.81 | 1.77 | 2.06 | 1.46 | 1.00 | 0.98 | 0.98 |
Average Inventory |
15.33 | 8.07 | 0.73 | 0.55 | 0.90 | 0.81 | 0.81 | — | — |
Average Assets |
84.12 | 53.93 | 28.39 | 26.25 | 26.89 | 21.70 | 22.70 | 20.89 | 20.89 |
Average Common Equity |
25.29 | 19.95 | 14.28 | 15.35 | 16.65 | 13.11 | 18.43 | 9.71 | 9.71 |
Columns are period end dates · fundamentals updated 5 Nov 2026