TherapeuticsMD, Inc. (TXMD) 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

-817.2%

-$12.98

vs $1.81 price

Levered DCF

-$3.92

After debt service

Piotroski score

4 / 9

Average

Altman Z-score

-34.36

Distress 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	FY2019	FY2018
P/E	-33.13×	-4.53×	-4.09×	0.45×	-0.7×	-1.57×	-3.04×	-6.46×
P/B	0.7×	0.36×	0.8×	1.44×	-1.53×	-2.69×	64.79×	8.79×
P/S	6.24×	5.63×	18.04×	0.72×	55.69×	5.14×	12.01×	53.25×
EV / EBITDA	-5.78×	-2.78×	-3.57×	1.78×	-3.5×	-3.27×	-4.05×	-6.03×
Gross margin	100.0%	100.0%	100.0%	98.0%	45.5%	75.4%	87.2%	83.0%
Operating margin	-139.4%	-275.1%	-654.6%	15.2%	-3092.8%	-239.8%	-304.6%	-808.8%
Net margin	-18.8%	-123.9%	-789.4%	160.1%	-6700.9%	-282.9%	-354.8%	-823.7%
Current ratio	3.02×	1.92×	1.72×	1.18×	0.47×	2.17×	3.93×	4.55×
Debt / equity	0.23×	0.26×	0.27×	0.25×	-2.11×	-2.01×	22.31×	0.75×
Interest coverage	-526.75×	0×	-42.62×	0×	-2.42×	-5.44×	-8.7×	-27.84×
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	-2.1%	-8.0%	-35.1%	318.7%	184.2%	148.0%	-1914.4%	-136.0%
Return on invested capital	-12.5%	-13.5%	-22.3%	23.7%	-74.9%	-124.8%	-70.5%	-76.2%
Return on assets	-1.5%	-5.6%	-23.7%	123.8%	-101.7%	-101.1%	-66.2%	-62.6%
Free cash flow yield	12.9%	7.4%	0.0%	-8.8%	-103.2%	-48.3%	-31.8%	-14.9%
Earnings yield	-3.0%	-22.0%	-43.8%	221.9%	-120.3%	-55.0%	-29.5%	-15.5%
Enterprise value	$17.5M	$12M	$27.2M	$21.2M	$276.1M	$501.7M	$640.6M	$769.1M
Net debt / EBITDA	0.46×	-0.49×	-0.48×	-2.47×	-1.68×	-1.1×	-0.28×	0.69×
Cash conversion cycle (days)	426	738	866	-565	6,238	-117	-242	-2,346