Jade Biosciences, Inc. (JBIO) 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

-80.4%

$2.74

vs $13.93 price

Levered DCF

$2.80

After debt service

Piotroski score

2 / 9

Weak

Altman Z-score

15.73

Safe zone

Rating

C+

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
P/E	-3.8×	-1.09×	-7.89×	-13.92×	-12.52×	-57.08×
P/B	1.46×	0.99×	5.44×	5.66×	1.67×	189.49×
P/S	0×	0×	0×	0×	0×	0×
EV / EBITDA	-3.11×	-0.61×	-7.6×	-13.53×	-10.21×	-57.97×
Gross margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	20.33×	20.93×	7.04×	16.9×	68.37×	2.64×
Debt / equity	0×	0.01×	0.01×	0.01×	0×	0×
Interest coverage	0×	0×	0×	0×	0×	-118.52×
Dividend yield	15.6%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	-59.1%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020
Return on equity	-38.3%	-91.1%	-69.0%	-40.6%	-13.3%	-326.8%
Return on invested capital	-34.1%	-97.0%	-73.9%	-41.6%	-13.3%	-302.2%
Return on assets	-36.4%	-86.7%	-59.3%	-38.1%	-13.1%	-203.8%
Free cash flow yield	-19.6%	-94.0%	-9.6%	-5.5%	-9.6%	-1.4%
Earnings yield	-26.3%	-91.9%	-12.7%	-7.2%	-8.0%	-1.7%
Enterprise value	$396.2M	$42.4M	$573.1M	$695.7M	$234.2M	$552.7M
Net debt / EBITDA	0.69×	0.48×	0.3×	0.41×	2.34×	0.48×
Cash conversion cycle (days)	0	-290	-9,110	-13,822	-29,395	-225,570