Rallybio Corporation (RLYB) 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

-35.3%

$10.20

vs $15.76 price

Levered DCF

$6.69

After debt service

Piotroski score

6 / 9

Average

Altman Z-score

13.79

Safe zone

Rating

Overall 4 / 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
P/E	-3.45×	-0.72×	-1.3×	-3.14×	-6.53×	-11.85×	-25.64×
P/B	0.53×	0.68×	0.91×	1.23×	1.75×	2.31×	18.6×
P/S	36.02×	65.73×	0×	0×	0×	0×	0×
EV / EBITDA	0.01×	-0.46×	-0.92×	-2.25×	-2.89×	-6.87×	-16.91×
Gross margin	89.3%	-6111.8%	0.0%	0.0%	0.0%	0.0%	0.0%
Operating margin	-3270.9%	-9511.9%	0.0%	0.0%	0.0%	0.0%	0.0%
Net margin	-1046.4%	-9084.1%	0.0%	0.0%	0.0%	0.0%	0.0%
Current ratio	14.5×	10.87×	12.39×	16.71×	27.61×	24.18×	5.5×
Debt / equity	0×	0×	0×	0×	0×	0×	0×
Interest coverage	0×	0×	0×	0×	-4,564.8×	-516.39×	-452.36×
Dividend yield	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%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	-15.5%	-93.7%	-70.2%	-39.4%	-26.8%	-19.4%	-104.5%
Return on invested capital	-48.3%	-97.5%	-74.1%	-40.0%	-26.0%	-18.6%	-99.1%
Return on assets	-14.4%	-84.8%	-64.5%	-36.9%	-25.8%	-18.6%	-81.6%
Free cash flow yield	-96.5%	-117.9%	-62.4%	-27.4%	-15.0%	-7.1%	-4.9%
Earnings yield	-29.1%	-138.2%	-77.1%	-31.9%	-15.3%	-8.4%	-5.6%
Enterprise value	-$292.8K	$28.1M	$72.6M	$152.7M	$131.2M	$173.4M	$294.2M
Net debt / EBITDA	1.12×	0.23×	0.31×	0.83×	3.86×	5.56×	1.12×
Cash conversion cycle (days)	-500	-3	-2,375	0	-2,019	-9,291	-11,874