CG Oncology, Inc. (CGON) Key Metrics
CGON valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $5.31B
- Enterprise value
- $5.49B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 851.8
- Price / book
- 6.3
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 0.28
CGON key metrics, 2021–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCGON valuation Price multiples at each fiscal year-end price.
CGON returns How much profit the business earns on the capital it uses.
CGON per-share figures Results divided by the shares outstanding at year-end.
CGON financial health Debt, liquidity and how easily interest is covered.
CGON efficiency & capital use Working capital cycle and where the cash goes.
CGON valuation history
CGON returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CGON debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CGON price vs earnings per share
CGON key metrics
2021–2025| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Valuation | |||||
| Market capitalization | $3.21B | $1.79B | — | — | — |
| Enterprise value | $2.47B | $1.05B | — | — | — |
| Price / sales | 794.5 | — | — | — | — |
| Price / book | 4.3 | 2.4 | — | — | — |
| EV / sales | 612.5 | 922.4 | — | — | — |
| Earnings yield | −5.0% | −4.9% | — | — | — |
| Free cash flow yield | −4.1% | −4.4% | — | — | — |
| Share price at fiscal year-end | $41.52 | $28.68 | — | — | — |
| Per share | |||||
| Revenue per share | $0.05 | $0.02 | $0.00 | $0.00 | $0.16 |
| Earnings per share | −$2.08 | −$1.41 | −$0.73 | −$0.53 | −$0.19 |
| Operating cash flow per share | −$1.71 | −$1.26 | −$0.69 | −$0.45 | −$0.20 |
| Free cash flow per share | −$1.71 | −$1.26 | −$0.69 | −$0.45 | −$0.21 |
| Cash per share | $9.60 | $11.87 | $2.82 | $2.15 | $0.80 |
| Book value per share | $9.74 | $11.73 | $2.77 | $1.88 | $0.60 |
| Tangible book value per share | $9.60 | $11.73 | $2.77 | $1.88 | $0.60 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $0.09 | $0.00 | $0.02 | $0.24 | $0.23 |
| Shares outstanding | 77.3M | 62.5M | 66.6M | 66.6M | 66.6M |
| Change in shares outstanding | +23.7% | −6.2% | 0.0% | 0.0% | — |
| Returns & profitability | |||||
| Return on equity (ROE) | −21.7% | −19.2% | −31.4% | −42.8% | −31.9% |
| Return on invested capital (ROIC) | — | — | — | — | −561.4% |
| Return on assets (ROA) | −20.8% | −18.5% | −28.0% | −34.3% | −21.9% |
| Return on tangible assets | −20.6% | −11.7% | −24.4% | −24.0% | −21.9% |
| Free cash flow margin | — | — | — | — | −132.8% |
| Financial health | |||||
| Total debt | $7.0M | $238,000 | $1.0M | $15.9M | $15.1M |
| Cash & short-term investments | $742.2M | $742.0M | $187.7M | $143.5M | $53.6M |
| Net debt | −$735.1M | −$741.8M | −$186.6M | −$127.5M | −$38.5M |
| Debt / equity | 0.01 | 0.00 | 0.01 | 0.13 | 0.38 |
| Debt / assets | 0.01 | 0.00 | 0.01 | 0.11 | 0.26 |
| Current ratio | 24.63 | 35.30 | 13.62 | 9.54 | 9.78 |
| Quick ratio | 24.58 | 35.30 | 13.62 | 9.54 | 9.78 |
| Interest coverage | — | — | -8.0 | — | -28.0 |
| Working capital | $728.6M | $732.8M | $179.9M | $131.8M | $52.4M |
| Invested capital | $17.5M | −$8.4M | −$1.9M | −$2.4M | $1.8M |
| Tangible asset value | $741.7M | $733.4M | $184.8M | $125.2M | $40.3M |
| Net current asset value | $720.5M | $732.8M | $179.6M | $124.6M | $40.0M |
| Graham net-net per share | $9.11 | $11.54 | $2.60 | $1.82 | $0.53 |
| Capital allocation | |||||
| Capex / revenue | 3.3% | 20.5% | 0.0% | 7.3% | 0.9% |
| Capex / depreciation | 0.09 | 7.31 | 0.00 | 0.93 | 9.70 |
| Stock-based compensation / revenue | 660.3% | 1,001.1% | 749.0% | 353.9% | 10.7% |
| R&D / revenue | 2,887.2% | 7,208.3% | 22,427.5% | 15,198.4% | 176.9% |
| SG&A / revenue | 1,820.0% | 2,959.0% | 4,853.4% | 3,362.8% | 44.9% |
| Efficiency | |||||
| Days sales outstanding | 66.4 | 139.9 | 353.4 | 291.4 | 0.1 |
| Days of inventory on hand | 61.5 | — | — | — | — |
| Days payables outstanding | 480.3 | 21.7 | 16.9 | 24,187.3 | 36,609.5 |
| Cash conversion cycle (days) | -352.5 | 118.2 | 336.5 | -23,895.9 | -36,609.4 |
| Receivables turnover | 5.50 | 2.61 | 1.03 | 1.25 | 5,179.00 |
| Payables turnover | 0.76 | 16.83 | 21.65 | 0.02 | 0.01 |
| Inventory turnover | 5.94 | — | — | — | — |
| Asset turnover | 0.01 | 0.00 | 0.00 | 0.00 | 0.18 |
| Average receivables | $734,500 | $436,500 | $197,500 | $152,500 | $2,000 |
| Average payables | $6.1M | $4.9M | $2.1M | $994,000 | $1.0M |
| Average inventory | $782,500 | $0 | — | — | — |
| Intangibles / total assets | 1.4% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CGON's annual financial statements (latest annual report filed February 27, 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.
CGON valuation and financial ratios
CG Oncology earned a return on equity of −21.7% in fiscal 2025. It ended the year with $7.0 million of debt and $742.2 million in cash and short-term investments, a net cash position of $735.1 million. The share count rose 16.0% from 66.6M to 77.3M over 4 years.
See the CGON income statement, the CGON chart for price history, or the CGON stock overview for the latest quote and news.
CGON key metrics FAQ
What is CG Oncology's return on equity?
CG Oncology's return on equity (ROE) was −21.7% in fiscal 2025: net income of -$161.0 million on average shareholders' equity of $743.0 million.
How much debt does CG Oncology have?
CG Oncology had total debt of $7.0 million at the end of fiscal 2025, a debt-to-equity ratio of 0.01 and more cash than debt.
What is CG Oncology's free cash flow yield?
CG Oncology generated -$132.5 million of free cash flow in fiscal 2025, a free cash flow yield of −4.1% on its market value at year-end ($3.2 billion).
What is CG Oncology's current ratio?
CG Oncology's current ratio was 24.63 at the end of fiscal 2025: current assets were 24.63 times current liabilities.