Phathom Pharmaceuticals, Inc. PHAT Ratios & Valuation
| TTM Q1 '26 | TTM Q4 '25 | TTM Q3 '25 | TTM Q2 '25 | TTM Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 84.9%-2.2pp | 87.1%-0.2pp | 87.2%+0.3pp | 86.9%+0.7pp | 86.2%+0.7pp | |
| Operating margin | -47.1%+44.2pp | -91.4%+53.7pp | -145%+90.9pp | -235.9%+114pp | -349.8%+152pp | |
| Net margin | -76.8%+49.6pp | -126.3%+60.2pp | -186.5%+103pp | -289.5%+133pp | -422.4%+183pp | |
| EBITDA margin | -46.9%+44.1pp | -91%+53.6pp | -144.6%+90.7pp | -235.2%+114pp | -348.9%+152pp | |
| Free cash flow margin | -47.7%+47.7pp | -95.4%+57.7pp | -153.1%+87.9pp | -241%+104pp | -345.5%+138pp | |
| Returns | ||||||
| Return on assets | -52.5%+16.9pp | -69.4%+18.1pp | -87.5%+28.4pp | -115.9%-9.6pp | -106.3%-21.9pp | |
| Efficiency | ||||||
| Asset turnover | 0.7×+0.1× | 0.5×+0.1× | 0.5×+0.1× | 0.4×+0.1× | 0.3×+0.1× | |
| Inventory turnover | 1.5×+0.1× | 1.4×+0.2× | 1.2×+0.3× | 0.9×+0.2× | 0.7×— | |
| Liquidity | ||||||
| Current ratio | 2.2×+0.5× | 1.7×-0.5× | 2.2×-0.2× | 2.4×-1.2× | 3.6×-0.6× | |
| Quick ratio | 2.1×+0.5× | 1.6×-0.4× | 2×-0.1× | 2.1×-1.2× | 3.3×-0.8× | |
| Cash ratio | 1.4×+0.5× | 1×-0.5× | 1.5×-0.2× | 1.6×-1.2× | 2.9×-0.6× | |
| Leverage | ||||||
| Debt-to-assets | 0.5×-0.3× | 0.8×-0.1× | 0.9×0.0× | 0.8×+0.1× | 0.7×+0.2× | |
| Interest coverage | -1.5×+0.9× | -2.3×+0.7× | -3×+0.7× | -3.7×+0.2× | -3.9×-0.1× | |
| Per Share | ||||||
| Book value per share | -$4.11+31.7% | -$6.01-4.4% | -$5.76-2.8% | -$5.60-19.1% | -$4.70-17.1% | |
| Valuation | ||||||
| Market capitalization | $824.68M+13.4% | $1.18B+41.3% | $835.01M+22.5% | $681.39M+56.1% | $436.62M-21.4% | |
| Enterprise value | $810.08M+12.7% | $1.26B+38.7% | $909.66M+23.3% | $737.78M+72.4% | $427.87M-7.0% | |
| Price / sales | 4×-4.9× | 6.7×+1.1× | 5.7×-0.3× | 6×+0.6× | 5.3×-4.7× | |
| EV / sales | 4×-4.8× | 7.2×+1.0× | 6.2×-0.3× | 6.5×+1.2× | 5.2×-3.1× | |
| Free cash flow yield | -11.9%+27.0pp | -14.2%+12.8pp | -27%+13.3pp | -40.3%+24.4pp | -64.8%-16.7pp | |
| Earnings yield | -19.1%+28.5pp | -18.7%+14.1pp | -32.9%+15.6pp | -48.5%+30.7pp | -79.2%-19.0pp |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Phathom Pharmaceuticals, Inc.'s profit margins?
- Phathom Pharmaceuticals, Inc. (PHAT) runs a 84.9% gross margin and a -47.1% operating margin, with a -76.8% net margin.
- Where do Phathom Pharmaceuticals, Inc.'s ratios come from?
- Every ratio is computed from Phathom Pharmaceuticals, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
