Captor Therapeutics Spolka Akcyjna (CTX.WA) 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

-150.3%

-PLN 25.16

vs PLN 50.00 price

Levered DCF

-PLN 48.58

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

7.35

Safe zone

Rating

C-

Overall 1 / 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	-9.46×	-5.13×	-6.58×	-18.58×	-22.79×	-39.5×	-57.48×	-113.26×
P/B	16.92×	3.06×	6.71×	6.92×	5.98×	-499.63×	117.26×	146.2×
P/S	85.26×	12.45×	35.19×	72.82×	186.2×	0×	0×	31,351.68×
EV / EBITDA	-7.99×	-4.96×	-6.06×	-21.36×	-25.91×	-88.32×	-146.16×	-324.86×
Gross margin	-14.0%	40.6%	52.3%	77.2%	81.4%	0.0%	0.0%	-16062.5%
Operating margin	-1141.8%	-282.8%	-553.1%	-418.9%	-795.5%	0.0%	0.0%	-25812.5%
Net margin	-901.2%	-242.8%	-534.7%	-391.9%	-817.2%	0.0%	0.0%	-27637.5%
Current ratio	2.27×	3.9×	3.32×	7.57×	7.98×	0.66×	0.96×	0.94×
Debt / equity	0.15×	0.09×	0.05×	0.07×	0.07×	-12.4×	2.4×	3.16×
Interest coverage	-188.01×	-102.43×	-226.06×	-66.26×	-79.27×	-31.08×	-18.27×	-15.53×
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	-178.9%	-59.6%	-102.0%	-37.3%	-26.2%	1303.5%	-204.2%	-128.9%
Return on invested capital	-195.8%	-63.7%	-99.9%	-37.1%	-23.9%	-106.2%	-53.7%	-28.7%
Return on assets	-104.9%	-43.9%	-72.5%	-31.8%	-22.7%	-50.8%	-34.5%	-24.5%
Free cash flow yield	-9.2%	-16.3%	-11.9%	-3.6%	-4.5%	-0.2%	0.8%	-0.4%
Earnings yield	-10.6%	-19.5%	-15.2%	-5.4%	-4.4%	-2.6%	-1.7%	-0.9%
Enterprise value	PLN 390.2M	PLN 163.5M	PLN 392.6M	PLN 602.8M	PLN 632.4M	PLN 503.4M	PLN 499.6M	PLN 510M
Net debt / EBITDA	0.15×	1.02×	1.11×	2.27×	4.5×	-0.31×	0.6×	-5.36×
Cash conversion cycle (days)	-80	779	-29	-366	-59	-131	-123	91,605