NASDAQ : ETON
Eton Pharmaceuticals, Inc. — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · United States
Last price 53.67 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 1.53B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Eton Pharmaceuticals, Inc. (ETON) reported revenue of 105.59M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 105.59M | 79.95M | 39.01M | 31.64M | 21.25M | 21.83M |
| Cost of Revenue | 40.75M | 32.12M | 15.60M | 10.58M | 6.93M | 2.83M |
| Gross Profit | 64.85M | 47.83M | 23.41M | 21.06M | 14.32M | 19.00M |
| Selling, General & Admin | 38.45M | 35.24M | 22.34M | 18.93M | 18.58M | 14.27M |
| Research & Development | 5.76M | 7.76M | 3.25M | 3.32M | 4.00M | 6.23M |
| Operating Expenses | 44.21M | 43.00M | 25.59M | 22.25M | 22.58M | 20.50M |
| Operating Income | 20.64M | 4.83M | -2.18M | -1.19M | -8.26M | -1.50M |
| Interest Expense | -4.57M | -4.78M | -2.00M | -1.06M | -955.00K | -1.04M |
| Interest & Investment Income | 1.01M | 1.07M | 794.00K | 1.56M | 194.00K | 36.00K |
| EBT Excluding Unusual Items | 17.08M | 1.12M | -3.39M | -689.00K | -9.02M | -2.50M |
| Merger & Restructuring Charges | -4.33M | -5.67M | -415.00K | |||
| Gain (Loss) on Sale of Assets | 181.00K | |||||
| Other Unusual Items | 365.00K | |||||
| Pretax Income | 12.75M | -4.56M | -3.81M | -689.00K | -9.02M | -1.96M |
| Income Tax Expense | 63.00K | 43.00K | 15.00K | 247.00K | ||
| Net Income | 12.69M | -4.60M | -3.82M | -936.00K | -9.02M | -1.96M |
| Net Income to Common | 12.69M | -4.60M | -3.82M | -936.00K | -9.02M | -1.96M |
| Shares Outstanding (Basic) | 27.19M | 26.91M | 25.89M | 25.64M | 25.15M | 25.21M |
| Shares Outstanding (Diluted) | 29.61M | 26.91M | 25.89M | 25.64M | 25.15M | 25.21M |
| EPS (Basic) | 0.47 | -0.17 | -0.15 | -0.04 | -0.36 | -0.08 |
| EPS (Diluted) | 0.43 | -0.17 | -0.15 | -0.04 | -0.36 | -0.08 |
| Free Cash Flow | 14.73M | 10.19M | 943.00K | 6.82M | 4.78M | -4.73M |
| Free Cash Flow Per Share | 0.50 | 0.38 | 0.04 | 0.27 | 0.19 | -0.19 |
| Gross Margin | 61.41% | 59.83% | 60.01% | 66.56% | 67.38% | 87.05% |
| Operating Margin | 19.54% | 6.04% | -5.59% | -3.77% | -38.87% | -6.85% |
| Profit Margin | 12.02% | -5.75% | -9.80% | -2.96% | -42.45% | -8.96% |
| Free Cash Flow Margin | 13.95% | 12.75% | 2.42% | 21.54% | 22.51% | -21.66% |
| EBITDA | 25.18M | 8.88M | -1.04M | -291.00K | -6.49M | -1.12M |
| EBITDA Margin | 23.84% | 11.10% | -2.66% | -0.92% | -30.52% | -5.13% |
| D&A For EBITDA | 4.54M | 4.04M | 1.15M | 901.00K | 1.77M | 374.00K |
| EBIT | 20.64M | 4.83M | -2.18M | -1.19M | -8.26M | -1.50M |
| EBIT Margin | 19.54% | 6.04% | -5.59% | -3.77% | -38.87% | -6.85% |
| Revenue as Reported | 105.59M | 79.95M | 39.01M | 31.64M | 21.25M | 21.83M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 26.84M | 25.94M | 14.94M | 21.39M | 16.30M | 14.41M |
| Cash & Short-Term Investments | 26.84M | 25.94M | 14.94M | 21.39M | 16.30M | 14.41M |
| Receivables | 24.89M | 11.76M | 5.36M | 3.41M | 1.85M | 5.47M |
| Inventory | 10.14M | 15.42M | 15.23M | 911.00K | 557.00K | 550.00K |
| Prepaid Expenses | 6.72M | 7.46M | 5.49M | 1.13M | 1.29M | 3.18M |
| Total Current Assets | 68.60M | 60.58M | 41.02M | 26.84M | 20.00M | 23.60M |
| Property, Plant & Equipment | 1.47M | 636.00K | 209.00K | 150.00K | 260.00K | 219.00K |
| Other Intangible Assets | 45.68M | 30.88M | 34.88M | 4.74M | 4.75M | 3.62M |
| Other Long-Term Assets | 64.00K | 19.00K | 12.00K | 12.00K | 12.00K | 21.00K |
| Total Assets | 115.81M | 92.11M | 76.12M | 31.74M | 25.03M | 27.46M |
| Accounts Payable | 14.40M | 10.98M | 4.17M | 1.85M | 1.77M | 1.77M |
| Accrued Expenses | 18.95M | 15.94M | 15.70M | 8.96M | 3.66M | 1.37M |
| Current Portion of Long-Term Debt | 8.82M | 8.79M | 5.38M | 1.03M | 1.42M | |
| Current Portion of Leases | 239.00K | 65.00K | 76.00K | 53.00K | ||
| Current Unearned Revenue | 330.00K | 457.00K | ||||
| Other Current Liabilities | 2.38M | 2.26M | ||||
| Total Current Liabilities | 45.12M | 38.49M | 19.95M | 16.24M | 6.46M | 4.56M |
| Long-Term Debt | 19.08M | 21.77M | 29.81M | 5.38M | 5.26M | |
| Long-Term Leases | 1.08M | 460.00K | 107.00K | 22.00K | 107.00K | 15.00K |
| Long-Term Unearned Revenue | 1.62M | 1.76M | ||||
| Other Long-Term Liabilities | 2.32M | 3.48M | 1.83M | |||
| Total Liabilities | 69.22M | 65.96M | 51.70M | 16.26M | 11.95M | 9.84M |
| Common Stock | 28.00K | 27.00K | 27.00K | 26.00K | 25.00K | 25.00K |
| Additional Paid-In Capital | 145.92M | 138.62M | 132.29M | 119.52M | 116.19M | 111.72M |
| Retained Earnings | -99.36M | -112.49M | -107.89M | -104.07M | -103.13M | -94.11M |
| Total Common Equity | 46.59M | 26.15M | 24.43M | 15.48M | 13.08M | 17.63M |
| Shareholders' Equity | 46.59M | 26.15M | 24.43M | 15.48M | 13.08M | 17.63M |
| Total Liabilities & Equity | 115.81M | 92.11M | 76.12M | 31.74M | 25.03M | 27.46M |
| Total Debt | 29.23M | 31.08M | 29.99M | 5.46M | 6.52M | 6.70M |
| Net Cash (Debt) | -2.38M | -5.14M | -15.06M | 15.93M | 9.78M | 7.71M |
| Net Cash Per Share | -0.08 | -0.19 | -0.58 | 0.62 | 0.39 | 0.31 |
| Filing Date Shares Outstanding | 28.58M | 27.28M | 26.82M | 25.69M | 25.46M | 24.63M |
| Total Common Shares Outstanding | 28.29M | 27.05M | 26.71M | 25.69M | 25.35M | 24.63M |
| Working Capital | 23.48M | 22.09M | 21.07M | 10.60M | 13.54M | 19.05M |
| Book Value Per Share | 1.65 | 0.97 | 0.91 | 0.60 | 0.52 | 0.72 |
| Tangible Book Value | 907.00K | -4.72M | -10.45M | 10.74M | 8.32M | 14.01M |
| Tangible Book Value Per Share | 0.03 | -0.17 | -0.39 | 0.42 | 0.33 | 0.57 |
| Machinery | 237.00K | 517.00K | 377.00K | 350.00K | 341.00K | 395.00K |
| Construction In Progress | 12.00K | |||||
| Leasehold Improvements | 229.00K | 295.00K | 103.00K | 103.00K | 71.00K | 71.00K |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 12.69M | -4.60M | -3.82M | -936.00K | -9.02M | -1.96M |
| Depreciation & Amortization | 4.54M | 4.04M | 1.15M | 901.00K | 1.77M | 462.00K |
| Other Amortization | 632.00K | 696.00K | 1.11M | 117.00K | 127.00K | 148.00K |
| Loss (Gain) From Sale of Assets | -181.00K | |||||
| Stock-Based Compensation | 5.20M | 5.51M | 3.17M | 3.14M | 4.22M | 3.38M |
| Other Operating Activities | 4.87M | 5.73M | 599.00K | 82.00K | 62.00K | -365.00K |
| Change in Accounts Receivable | -10.43M | -6.40M | -3.12M | -1.56M | 3.62M | -5.42M |
| Change in Inventory | 9.87M | -5.88M | -1.84M | -369.00K | -7.00K | 692.00K |
| Change in Accounts Payable | 2.27M | 6.81M | 2.32M | 53.00K | -8.00K | -570.00K |
| Change in Other Net Operating Assets | -14.50M | 4.61M | 1.41M | 5.39M | 4.06M | -910.00K |
| Operating Cash Flow | 15.13M | 10.52M | 969.00K | 6.82M | 4.82M | -4.72M |
| Capital Expenditures | -403.00K | -333.00K | -26.00K | -38.00K | -9.00K | |
| Sale of Property, Plant & Equipment | 700.00K | |||||
| Cash Acquisitions | -30.00M | |||||
| Sale (Purchase) of Intangibles | -15.00M | -9.99M | -775.00K | -2.75M | -3.25M | |
| Investing Cash Flow | -15.40M | -333.00K | -40.01M | -775.00K | -2.79M | -2.56M |
| Long-Term Debt Issued | 25.31M | |||||
| Long-Term Debt Repaid | -1.16M | -1.16M | -385.00K | -150.00K | ||
| Net Debt Issued (Repaid) | -3.00M | 24.15M | -1.16M | -385.00K | -150.00K | |
| Issuance of Common Stock | 4.73M | 815.00K | 8.44M | 378.00K | 251.00K | 541.00K |
| Repurchase of Common Stock | -180.00K | |||||
| Financing Cash Flow | 1.73M | 815.00K | 32.59M | -957.00K | -134.00K | 391.00K |
| Net Cash Flow | 1.47M | 11.01M | -6.45M | 5.08M | 1.90M | -6.89M |
| Free Cash Flow | 14.73M | 10.19M | 943.00K | 6.82M | 4.78M | -4.73M |
| Free Cash Flow Margin | 13.95% | 12.75% | 2.42% | 21.54% | 22.51% | -21.66% |
| Free Cash Flow Per Share | 0.50 | 0.38 | 0.04 | 0.27 | 0.19 | -0.19 |
| Levered Free Cash Flow | 6.58M | 11.16M | -18.78M | 5.60M | 5.36M | -7.02M |
| Unlevered Free Cash Flow | 8.80M | 13.45M | -18.64M | 6.15M | 5.83M | -6.52M |
| Cash Interest Paid | 4.17M | 3.33M | 665.00K | 842.00K | 730.00K | 815.00K |
| Cash Income Tax Paid | 114.00K | 118.00K | 82.00K | 247.00K | ||
| Change in Working Capital | -12.80M | -859.00K | -1.23M | 3.51M | 7.66M | -6.21M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 1.49B | 453.48M | 354.78M | 112.38M | 71.34M | 105.56M |
| Enterprise Value | 1.49B | 447.24M | 338.84M | 96.14M | 64.38M | 89.61M |
| Last Close Price | 52.18 | 16.91 | 13.32 | 4.38 | 2.82 | 4.29 |
| Forward PE | 35.44 | 30.56 | 57.91 | 79.64 | 32.85 | 9.98 |
| PS Ratio | 14.12 | 5.67 | 9.09 | 3.55 | 3.36 | 4.83 |
| PB Ratio | 31.69 | 17.34 | 14.52 | 7.26 | 5.46 | 5.99 |
| P/TBV Ratio | 1,644.40 | 10.47 | 8.57 | 7.54 | ||
| P/FCF Ratio | 101.24 | 44.50 | 376.22 | 16.49 | 14.91 | |
| P/OCF Ratio | 98.54 | 43.09 | 366.12 | 16.49 | 14.80 | |
| EV/Sales Ratio | 14.15 | 5.59 | 8.69 | 3.04 | 3.03 | 4.11 |
| EV/EBITDA Ratio | 59.33 | 50.39 | ||||
| EV/EBIT Ratio | 72.39 | 92.58 | ||||
| EV/FCF Ratio | 101.40 | 43.89 | 359.32 | 14.11 | 13.46 | |
| Debt / Equity Ratio | 0.63 | 1.19 | 1.23 | 0.35 | 0.50 | 0.38 |
| Debt / EBITDA Ratio | 1.15 | 3.47 | ||||
| Debt / FCF Ratio | 1.98 | 3.05 | 31.81 | 0.80 | 1.36 | |
| Net Debt / Equity Ratio | 0.05 | 0.20 | 0.62 | -1.03 | -0.75 | -0.44 |
| Net Debt / EBITDA Ratio | 0.10 | 0.58 | -14.54 | 54.75 | 1.51 | 6.88 |
| Net Debt / FCF Ratio | 0.16 | 0.50 | 15.97 | -2.34 | -2.04 | 1.63 |
| Asset Turnover | 0.97 | 0.95 | 0.72 | 1.11 | 0.81 | 0.81 |
| Inventory Turnover | 2.40 | 2.10 | 1.93 | 14.42 | 12.53 | 3.15 |
| Quick Ratio | 1.15 | 0.98 | 1.02 | 1.53 | 2.81 | 4.36 |
| Current Ratio | 1.52 | 1.57 | 2.06 | 1.65 | 3.10 | 5.18 |
| Return on Equity (ROE) | 35.97% | -18.19% | -19.16% | -6.56% | -58.75% | -11.74% |
| Return on Assets (ROA) | 11.86% | 3.59% | -2.53% | -2.62% | -19.67% | -3.47% |
| Return on Capital Employed (ROCE) | 29.20% | 9.00% | -3.90% | -7.70% | -44.50% | -6.50% |
| Earnings Yield | 0.82% | -1.01% | -1.08% | -0.83% | -12.65% | -1.85% |
| FCF Yield | 0.99% | 2.25% | 0.27% | 6.06% | 6.71% | -4.48% |
| Buyback Yield / Dilution | -11.94% | -3.91% | -0.97% | -1.99% | 0.24% | -19.98% |