Eton Pharmaceuticals, Inc.
ETON Nasdaq· Pharmaceutical Preparations
Last close · Oct 23, 2026
$50.00
KIRA · Stoqly’s AI analyst, in plain words
- Eton Pharmaceuticals, Inc. had $80.0M of revenue in fiscal 2025, up 104.9% on the year before. Over five years, revenue changed +359.6% a year on average.
- Its operating margin was −1.1%, up 5.6 pts: of every 100 in sales, about −1 is left after running the business.
- Eton Pharmaceuticals, Inc. lost $4.6M in fiscal 2025.
- Free cash flow was $10.2M in fiscal 2025, 12.7% of revenue.
- Eton Pharmaceuticals, Inc. owes $13.4M more than it holds in cash, about 4.2 years of operating profit.
Market cap
$1.6B
P/E
—
Revenue
$80.0M
Net income
−$4.6M
Free cash flow
$10.2M
Operating margin
−1.1%
Eton Pharmaceuticals, Inc. in 30 seconds · fiscal 2025
Are sales growing?
+104.9%
Yes. Sales grew 104.9% last year.
Does it make a profit?
−5.8%
No. It lost money last year.
Does profit turn into cash?
12.7%
Yes. 12.7% of sales ends up as free cash.
Is debt under control?
4.2x
Heavy. Repaying its debt would take 4.2 years of operating profit.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
What Eton Pharmaceuticals, Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 19, 2026
- Legal name
- Eton Pharmaceuticals, Inc.
- CIK
- 0001710340
Eton Pharmaceuticals, Inc. · ETON
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $21.8M | $21.3M | $31.6M | $39.0M | $80.0M |
| Revenue growth | 55,879.5% | −2.7% | 48.9% | 23.3% | 104.9% |
| Gross margin | 87.1% | 67.4% | 66.6% | 60.0% | 53.5% |
| Operating margin | −6.8% | −38.9% | −3.8% | −6.7% | −1.1% |
| Net income | −$2.0M | −$9.0M | −$0.9M | −$3.8M | −$4.6M |
| Net margin | −9.0% | −42.4% | −3.0% | −9.8% | −5.8% |
| Diluted EPS | −$0.08 | — | — | — | — |
| Cash | |||||
| Cash from operations | −$4.7M | $4.8M | $6.8M | $1.0M | $10.5M |
| Capital expenditure | $0.0M | $0.0M | $0.0M | $0.0M | $0.3M |
| Free cash flow | −$4.7M | $4.8M | $6.8M | $0.9M | $10.2M |
| FCF margin | −21.7% | 22.5% | 21.5% | 2.4% | 12.7% |
| Share count change | 20.0% | — | — | — | — |
| Debt and strength | |||||
| Cash and short-term investments | $14.4M | $16.3M | $21.4M | $14.9M | $25.9M |
| Debt incl. finance leases | $5.3M | $5.4M | $0.0M | $29.8M | $39.3M |
| Shareholders' equity | $17.6M | $13.1M | $15.5M | $24.4M | $26.2M |
| Net debt / EBITDA | — | — | — | — | 4.2x |
| Current ratio | 5.2x | 3.1x | 1.7x | 2.1x | 1.6x |
| Interest coverage | −1.4x | −8.6x | −1.1x | −1.3x | −0.2x |
| Returns and quality | |||||
| Return on capital | −13.9% | −302.5% | — | −5.2% | −1.7% |
| Return on equity | −11.1% | −58.8% | −6.6% | −19.2% | −18.2% |
| Return on tangible equity | −14.0% | −108.4% | −8.7% | — | — |
| Piotroski F-score | 4 | 3 | 5 | 3 | 4 |
| Altman Z'' | −5.1 | −11.0 | −7.8 | −2.5 | −2.1 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$25.4M
5 insiders
Of sales under plans
0%
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Eton Pharmaceuticals, Inc. · ETON
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $50.00 a share, the company is worth $1.6B.
Source: SEC EDGAR XBRL filings (CIK 0001710340). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.