Atara Biotherapeutics, Inc. (ATRA) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-5049.6%

-$419.73

vs $8.48 price

Levered DCF

-$613.57

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-135.86

Distress zone

Rating

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	6.93×	-1.17×	-0.2×	-1.47×	-4.34×	-4.74×	-2.9×	-6.6×
P/B	-5.89×	-1.02×	-0.55×	2.64×	5.28×	3.14×	2.91×	4.49×
P/S	1.88×	0.77×	6.34×	5.26×	72.58×	0×	0×	0×
EV / EBITDA	7.02×	-1.56×	-0.32×	-1.41×	-4.23×	-4.21×	-2.72×	-6.26×
Gross margin	82.4%	83.7%	-3.7%	-324.7%	-1286.4%	0.0%	0.0%	0.0%
Operating margin	29.7%	-64.7%	-3219.5%	-441.2%	-1673.9%	0.0%	0.0%	0.0%
Net margin	27.1%	-66.2%	-3220.9%	-359.1%	-1672.3%	0.0%	0.0%	0.0%
Current ratio	0.82×	0.48×	0.72×	3.74×	3.64×	6.31×	7.43×	8.04×
Debt / equity	-1.37×	-0.45×	-0.58×	0.57×	0.1×	0.03×	0.05×	0×
Interest coverage	9.46×	-18.08×	-52.22×	-752.05×	0×	0×	0×	0×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	-84.9%	87.8%	278.3%	-180.3%	-121.6%	-66.3%	-100.1%	-680.8%
Return on invested capital	222.7%	721.7%	-778.4%	-90.2%	-93.3%	-60.9%	-96.1%	-67.3%
Return on assets	161.5%	-78.3%	-166.8%	-60.7%	-72.7%	-52.1%	-84.8%	-588.8%
Free cash flow yield	-22.4%	-69.2%	-357.6%	-82.1%	-15.7%	-12.8%	-28.6%	-14.2%
Earnings yield	14.4%	-85.7%	-508.4%	-68.2%	-23.0%	-21.1%	-34.4%	-151.6%
Enterprise value	$271.2M	$118.5M	$86.3M	$313.3M	$1.4B	$1.3B	$786.4M	$1.5B
Net debt / EBITDA	1.15×	-0.25×	-0.12×	0.1×	0.24×	0.62×	0.2×	0.26×
Cash conversion cycle (days)	2	113	1,700	224	-5	-11	0	-359