Belite Bio, Inc. (BLTE) Key Metrics
BLTE valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $5.75B
- Enterprise value
- $6.31B
- P/E (TTM)
- —
- Forward P/E
- 416.7
- PEG ratio
- —
- Price / sales
- —
- Price / book
- 8.8 10-yr median 13.3
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- −1.23
BLTE key metrics, 2020–2025
Fiscal year ended December 31, 2025 · U.S. dollarsBLTE valuation Price multiples at each fiscal year-end price.
BLTE returns How much profit the business earns on the capital it uses.
BLTE per-share figures Results divided by the shares outstanding at year-end.
BLTE financial health Debt, liquidity and how easily interest is covered.
BLTE valuation history
BLTE returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
BLTE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
BLTE price vs earnings per share
BLTE key metrics
2020–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Valuation | ||||||
| Market capitalization | $5.36B | $1.93B | $1.22B | $602.2M | — | — |
| Enterprise value | $4.87B | $1.78B | $1.13B | $561.0M | — | — |
| Price / book | 7.0 | 13.2 | 13.5 | 14.5 | — | — |
| Earnings yield | −1.4% | −1.9% | −2.6% | −2.1% | — | — |
| Free cash flow yield | −0.7% | −1.5% | −2.5% | −2.0% | — | — |
| Share price at fiscal year-end | $159.96 | $63.10 | $45.75 | $30.14 | — | — |
| Per share | ||||||
| Revenue per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Earnings per share | −$2.31 | −$1.18 | −$1.19 | −$0.63 | −$0.40 | −$0.62 |
| Operating cash flow per share | −$1.10 | −$0.96 | −$1.12 | −$0.57 | −$0.31 | −$0.48 |
| Free cash flow per share | −$1.11 | −$0.96 | −$1.12 | −$0.59 | −$0.31 | −$0.48 |
| Cash per share | $14.68 | $4.75 | $3.31 | $2.11 | $0.72 | $2.78 |
| Book value per share | $22.97 | $4.78 | $3.40 | $2.08 | −$0.63 | −$0.76 |
| Tangible book value per share | $22.83 | $4.64 | $3.28 | $2.08 | −$0.63 | −$0.76 |
| Capex per share | $0.01 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 |
| Debt per share | $0.01 | $0.02 | $0.03 | $0.04 | $1.32 | $3.45 |
| Shares outstanding | 33.5M | 30.5M | 26.6M | 20.0M | 24.1M | 9.2M |
| Change in shares outstanding | +9.8% | +14.8% | +33.1% | −17.1% | +161.7% | — |
| Returns & profitability | ||||||
| Return on equity (ROE) | −16.9% | −30.6% | −48.0% | −95.8% | — | — |
| Return on invested capital (ROIC) | −47.6% | — | — | — | — | — |
| Return on assets (ROA) | −16.6% | −29.3% | −45.5% | −40.4% | −43.8% | −22.3% |
| Return on tangible assets | −10.0% | −24.4% | −34.6% | −28.6% | −52.7% | −22.3% |
| Financial health | ||||||
| Total debt | $429,000 | $537,000 | $886,000 | $866,000 | $31.8M | $31.8M |
| Cash & short-term investments | $492.4M | $145.1M | $88.2M | $42.1M | $17.3M | $25.6M |
| Net debt | −$492.0M | −$144.6M | −$87.3M | −$41.2M | $14.5M | $6.2M |
| Debt / equity | 0.00 | 0.00 | 0.01 | 0.02 | — | — |
| Debt / assets | 0.00 | 0.00 | 0.01 | 0.02 | 1.73 | 1.24 |
| Current ratio | 50.02 | 24.31 | 24.76 | 20.35 | 10.66 | 26.41 |
| Quick ratio | 50.02 | 24.31 | 24.76 | 20.35 | 10.66 | 26.41 |
| Interest coverage | — | — | — | -801.3 | — | -273.5 |
| Working capital | $484.4M | $141.0M | $86.3M | $40.7M | $15.8M | $24.7M |
| Invested capital | $278.5M | $1.2M | $3.2M | $278,000 | −$631,000 | −$849,000 |
| Tangible asset value | $765.6M | $141.8M | $87.1M | $41.5M | −$15.1M | −$7.0M |
| Net current asset value | $484.2M | $140.8M | $85.7M | $40.0M | −$16.0M | −$7.1M |
| Graham net-net per share | $14.40 | $4.56 | $3.18 | $1.97 | −$0.67 | −$0.77 |
| Capital allocation | ||||||
| Capex / depreciation | 0.38 | 0.34 | 0.16 | 1.99 | 2.47 | 1.18 |
| Efficiency | ||||||
| Days of inventory on hand | — | — | — | -35.0 | — | — |
| Receivables turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Asset turnover | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Average receivables | $656,000 | $730,500 | $443,000 | $21,000 | $31,500 | $40,000 |
| Average inventory | — | — | — | −$19,000 | — | — |
| Intangibles / total assets | 0.6% | 2.6% | 3.5% | 0.1% | 0.0% | 0.0% |
Computed from BLTE's annual financial statements (latest annual report filed March 31, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
BLTE valuation and financial ratios
Belite Bio earned a return on equity of −16.9% and a return on invested capital of −47.6% in fiscal 2025. It ended the year with $0.4 million of debt and $492.4 million in cash and short-term investments, a net cash position of $492.0 million. The share count rose 264.3% from 9.2M to 33.5M over 5 years.
See the BLTE income statement, the BLTE chart for price history, or the BLTE stock overview for the latest quote and news.
BLTE key metrics FAQ
What is Belite Bio's return on equity?
Belite Bio's return on equity (ROE) was −16.9% in fiscal 2025: net income of -$77.6 million on average shareholders' equity of $458.2 million.
What is Belite Bio's ROIC?
Belite Bio's return on invested capital was −47.6% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Belite Bio have?
Belite Bio had total debt of $0.4 million at the end of fiscal 2025, a debt-to-equity ratio of 0.00 and more cash than debt.
What is Belite Bio's free cash flow yield?
Belite Bio generated -$37.2 million of free cash flow in fiscal 2025, a free cash flow yield of −0.7% on its market value at year-end ($5.4 billion).
What is Belite Bio's current ratio?
Belite Bio's current ratio was 50.02 at the end of fiscal 2025: current assets were 50.02 times current liabilities.