Neurogene Inc. (NGNE) 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

-83.6%

$4.36

vs $26.61 price

Levered DCF

$4.44

After debt service

Piotroski score

1 / 9

Weak

Altman Z-score

6.39

Safe 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	-4.86×	-5.34×	-6.85×	-2.37×	-104.78×	-440.63×	-95.88×	-32.24×
P/B	1.65×	1.29×	1.34×	1.32×	-57.75×	76.43×	47.01×	13.98×
P/S	0×	434.14×	0×	0×	0×	0×	0×	40.64×
EV / EBITDA	-3.92×	-3.86×	-3.53×	-1.02×	-105.75×	-458.87×	-94.33×	-29.74×
Gross margin	0.0%	-251.0%	0.0%	0.0%	0.0%	0.0%	0.0%	100.0%
Operating margin	0.0%	-8930.3%	0.0%	0.0%	0.0%	0.0%	0.0%	-94.1%
Net margin	0.0%	-8123.7%	0.0%	0.0%	0.0%	0.0%	0.0%	-126.3%
Current ratio	16.56×	20.84×	8.72×	12.74×	6.81×	24.66×	30.28×	16.68×
Debt / equity	0.04×	0.04×	0.09×	0.05×	-0.07×	0.06×	0.01×	0×
Interest coverage	-20,641.6×	-6,883.75×	-4,631.92×	-28,258.5×	0×	0×	-24,443×	-5,881×
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	-34.1%	-24.2%	-19.5%	-56.0%	55.0%	-17.4%	-49.0%	-43.5%
Return on invested capital	-37.5%	-25.5%	-27.5%	-54.7%	-54.7%	-20.4%	-17.1%	-32.2%
Return on assets	-31.3%	-22.4%	-16.3%	-50.5%	-49.8%	-15.8%	-47.2%	-40.7%
Free cash flow yield	-18.0%	-17.8%	-20.8%	-42.2%	-1.2%	-0.2%	-0.2%	-3.1%
Earnings yield	-20.7%	-18.7%	-14.6%	-42.3%	-1.0%	-0.2%	-1.0%	-3.1%
Enterprise value	$342.1M	$277.4M	$116.6M	$53.2M	$5.2B	$14.4B	$6.5B	$939.1M
Net debt / EBITDA	1.08×	1.73×	4×	1.49×	1.29×	5.74×	2.05×	2.44×
Cash conversion cycle (days)	-223	106	-290	-71	-32	-265	-1,722	0