LeonaBio, Inc. (LONA) 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

+224.9%

$15.08

vs $4.64 price

Levered DCF

$16.01

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

-15.55

Distress zone

Rating

Overall 3 / 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	-0.31×	-0.23×	-0.79×	-1.25×	-8.74×	-56.15×	-122.21×	-106.94×
P/B	1.16×	0.5×	0.71×	0.51×	1.5×	4.06×	-28.3×	-37.49×
P/S	0×	0×	0×	0×	0×	0×	0×	0×
EV / EBITDA	1.09×	0.26×	-0.03×	-0.29×	-6.85×	-53.76×	-115.86×	-7,031.92×
Gross margin	0.0%	0.0%	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%	0.0%	0.0%
Net margin	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	1.88×	4.18×	5.37×	9.68×	28.07×	43.66×	1.7×	8.56×
Debt / equity	0.03×	0.03×	0.01×	0.01×	0.01×	0×	-0.08×	-0.05×
Interest coverage	0×	0×	0×	-4.28×	-21,340.67×	-54.48×	-15.75×	-556.56×
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	-380.0%	-216.2%	-90.4%	-40.7%	-17.1%	-7.3%	26.2%	34.2%
Return on invested capital	-226.7%	-219.1%	-95.2%	-43.9%	-19.8%	-7.3%	-594.9%	-114.9%
Return on assets	-114.6%	-164.9%	-73.4%	-37.0%	-16.5%	-7.1%	-235.8%	-103.3%
Free cash flow yield	-141.3%	-430.3%	-109.4%	-61.5%	-9.3%	-2.4%	-0.7%	-0.8%
Earnings yield	-326.3%	-429.2%	-127.4%	-80.0%	-11.4%	-1.8%	-0.9%	-0.9%
Enterprise value	-$36.1M	-$24.6M	$3.4M	$25.6M	$372.5M	$1.1B	$557.6M	$555.5M
Net debt / EBITDA	2.06×	0.49×	0.71×	1.07×	2×	3.04×	0.1×	32.85×
Cash conversion cycle (days)	-25	0	0	0	-432	-211	0	0