Delcath Systems, Inc. (DCTH) AI Stock Analysis

Delcath Systems, Inc., an interventional oncology company based in New York, New York, develops treatments for primary and metastatic liver cancers across the United States and Europe. Its primary product is the HEPZATO KIT, a specialized system designed for the hepatic delivery of melphalan hydrochloride to provide targeted, high-dose chemotherapy directly to the liver while minimizing systemic side effects. Clinical development efforts include the FOCUS trial for ocular melanoma with hepatic metastases. Delcath also markets the delivery platform in Europe as a standalone medical device known as the CHEMOSAT Hepatic Delivery System for Melphalan.

Delcath Systems expanded revenue from $3.6M in FY2021 to $85.2M in FY2025, reflecting a 5-year compound annual growth rate of 120.2%. After posting net losses of -$25.6M in FY2021, -$36.5M in FY2022, -$47.7M in FY2023, and -$26.4M in FY2024, the company recorded positive net income of $2.7M in FY2025 with a net margin of 3.2%. Gross margin improved to 86.2% in FY2025, up from 69.2% in FY2023. Over the trailing twelve months ended June 30, 2026, revenue stood at $95.4M with an operating margin of 8.2% and quarterly year-over-year revenue growth of 20.6%.

As of June 30, 2026, Delcath Systems held $95.9M in cash and short-term investments against total debt of $2.5M, yielding net cash of $93.4M. The company has a current ratio of 9.83 and a debt-to-equity ratio of 0.02. In FY2025, operating cash flow turned positive to $22.5M and free cash flow reached $21.0M. During FY2025, cash deployment included capital expenditures of $1.5M and share buybacks of $6.0M, while common share count increased 408.6% over the past 5 years.

At a share price of $14.08, Delcath Systems carries a market capitalization of $488.6M and an enterprise value of $460.4M. The stock trades at a forward P/E of 232.6x and an EV/EBITDA of 294.2x, compared to medians of 17.3x and 12.0x, respectively, for its US-listed Healthcare peers. Its price-to-sales multiple is 5.1x versus the peer median of 4.1x. Over the past year, the stock returned 13.9%, compared to a 16.8% return for the S&P 500, while its 5-year return reached 49.6% versus 83.0% for the S&P 500.

Wall Street coverage includes 4 Strong Buy ratings and 1 Buy rating. The mean price target is $24.00, representing 70.5% upside from the last closing price of $14.08. For the fiscal year ending December 31, 2026, analysts estimate an EPS of -$0.14 on revenue of $106.2M. For FY2027, consensus estimates project EPS of $0.04 and revenue of $132.0M, based on estimates from 4 analysts. The company beat EPS estimates in each of the last 4 quarters, with its next earnings release scheduled for November 3, 2026.

This page is an AI-written research summary of Delcath Systems, Inc. (DCTH). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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