CorMedix Inc. (CRMD) Key Metrics
CRMD valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $565.9M
- Enterprise value
- $487.1M
- P/E (TTM)
- 3.5
- Forward P/E
- 46.5
- PEG ratio
- —
- Price / sales
- 1.2 10-yr median 444.0
- Price / book
- 1.3 10-yr median 2.9
- EV / EBITDA
- 1.9
- Dividend yield
- —
- Beta
- 1.41
CRMD key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCRMD valuation Price multiples at each fiscal year-end price.
CRMD returns How much profit the business earns on the capital it uses.
CRMD per-share figures Results divided by the shares outstanding at year-end.
CRMD financial health Debt, liquidity and how easily interest is covered.
CRMD efficiency & capital use Working capital cycle and where the cash goes.
CRMD valuation history
CRMD returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CRMD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CRMD cash returned to shareholders
CRMD price vs earnings per share
CRMD key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $934.0M | $476.9M | $191.4M | $170.0M | $171.4M | $212.2M | $175.8M | $114.9M | — | — |
| Enterprise value | $933.4M | $425.7M | $116.0M | $111.7M | $106.8M | $166.9M | $147.3M | $103.4M | — | — |
| P/E ratio | 5.7 | — | — | — | — | — | — | — | — | — |
| Price / sales | 3.0 | 11.0 | — | — | 897.6 | 887.1 | 620.7 | 267.4 | — | — |
| Price / book | 2.3 | 5.6 | 2.7 | 3.1 | 2.7 | 4.8 | — | — | — | — |
| Price / free cash flow | 5.4 | — | — | — | — | — | — | — | — | — |
| Price / operating cash flow | 5.3 | — | — | — | — | — | — | — | — | — |
| EV / sales | 3.0 | 9.8 | — | — | 559.5 | 697.6 | 520.1 | 240.6 | — | — |
| EV / EBITDA | 5.6 | — | — | — | — | — | — | — | — | — |
| EV / free cash flow | 5.4 | — | — | — | — | — | — | — | — | — |
| Earnings yield | 17.5% | −3.8% | −24.2% | −17.5% | −16.5% | −10.4% | −9.3% | −23.3% | — | — |
| Free cash flow yield | 18.5% | −10.6% | −20.2% | −14.5% | −13.2% | −10.4% | −8.6% | −20.7% | — | — |
| Shareholder yield (dividends + buybacks) | — | — | 0.1% | — | 0.0% | 0.0% | 0.0% | 0.0% | — | — |
| Share price at fiscal year-end | $11.63 | $8.10 | $3.76 | $4.22 | $4.55 | $7.43 | $7.28 | $6.45 | $2.51 | $7.65 |
| Per share | ||||||||||
| Revenue per share | $3.88 | $0.74 | $0.00 | $0.00 | $0.01 | $0.01 | $0.01 | $0.02 | — | — |
| Earnings per share | $2.03 | −$0.30 | −$0.91 | −$0.74 | −$0.75 | −$0.77 | −$0.68 | −$1.51 | — | — |
| Operating cash flow per share | $2.18 | −$0.86 | −$0.75 | −$0.60 | −$0.56 | −$0.77 | −$0.62 | −$1.33 | — | — |
| Free cash flow per share | $2.15 | −$0.86 | −$0.76 | −$0.61 | −$0.60 | −$0.77 | −$0.62 | −$1.33 | — | — |
| Cash per share | $1.86 | $0.88 | $1.49 | $1.47 | $1.74 | $1.62 | $1.18 | $0.99 | — | — |
| Book value per share | $5.05 | $1.44 | $1.38 | $1.37 | $1.67 | $1.55 | −$8.09 | −$10.05 | — | — |
| Tangible book value per share | −$0.05 | −$29.89 | $1.38 | $1.37 | $1.67 | $1.55 | −$8.09 | −$10.05 | — | — |
| Capex per share | $0.03 | $0.00 | $0.01 | $0.01 | $0.04 | $0.00 | $0.00 | $0.00 | — | — |
| Debt per share | $1.85 | $0.01 | $0.01 | $0.02 | $0.02 | $0.04 | $0.00 | $0.34 | — | — |
| Shares outstanding | 80.3M | 58.9M | 50.9M | 40.3M | 37.7M | 28.6M | 24.2M | 17.8M | — | — |
| Change in shares outstanding | +36.4% | +15.7% | +26.4% | +6.9% | +31.9% | +18.3% | +35.6% | — | — | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 66.6% | −23.2% | −74.0% | −50.4% | −52.7% | — | — | — | — | −95.1% |
| Return on invested capital (ROIC) | 68.5% | −125.0% | — | — | — | — | — | — | — | — |
| Return on assets (ROA) | 34.5% | −17.8% | −64.3% | −45.4% | −47.7% | −55.9% | −68.0% | −166.2% | −186.7% | −83.5% |
| Return on tangible assets | 39.1% | — | −56.5% | −47.9% | −40.9% | −44.7% | −55.8% | −142.5% | −245.4% | −112.5% |
| Free cash flow margin | 55.4% | −116.7% | — | — | — | — | — | — | — | — |
| Income quality (OCF / net income) | 1.07 | — | — | — | — | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | $148.9M | $517,013 | $667,632 | $802,433 | $923,801 | $1.0M | $4,689 | $6.1M | $0 | $1,833 |
| Cash & short-term investments | $149.5M | $51.7M | $76.0M | $59.0M | $65.5M | $46.3M | $28.5M | $17.6M | $12.0M | $20.2M |
| Net debt | −$605,000 | −$51.2M | −$75.4M | −$58.2M | −$64.5M | −$45.3M | −$28.5M | −$11.5M | −$12.0M | −$20.2M |
| Debt / equity | 0.37 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | — | — | — | 0.00 |
| Debt / assets | 0.18 | 0.00 | 0.01 | 0.01 | 0.01 | 0.02 | 0.00 | 0.33 | 0.00 | 0.00 |
| Net debt / EBITDA | −0.00 | — | — | — | — | — | — | — | — | — |
| Current ratio | 2.11 | 3.39 | 6.97 | 9.44 | 12.44 | 11.58 | 5.04 | 2.40 | 2.12 | 5.34 |
| Quick ratio | 1.94 | 3.16 | 6.78 | 9.44 | 12.43 | 11.54 | 4.98 | 2.35 | 2.02 | 5.29 |
| Interest coverage | 54.0 | -614.1 | — | — | — | -819.3 | -26.7 | — | — | — |
| Working capital | $192.8M | $80.7M | $68.0M | $53.2M | $61.1M | $44.0M | $23.5M | $10.9M | $7.0M | $17.7M |
| Invested capital | $404.7M | $33.5M | −$5.2M | −$3.2M | −$1.7M | −$1.1M | −$223.9M | −$190.5M | −$164.2M | −$2.3M |
| Tangible asset value | −$3.8M | −$1.76B | $70.1M | $55.1M | $62.8M | $44.2M | $23.6M | $4.9M | $7.2M | $17.8M |
| Net current asset value | −$53.8M | $80.4M | $67.5M | $52.6M | $60.3M | $43.1M | $23.5M | $4.8M | $7.0M | $17.7M |
| Graham number | $15.18 | — | — | — | — | — | — | — | — | — |
| Graham net-net per share | −$1.59 | $1.02 | $1.28 | $1.29 | $1.58 | $1.45 | $0.95 | $0.22 | — | — |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | — | $0 | $0 |
| Share buybacks (net) | — | — | $198,443 | — | $0 | $0 | $0 | $0 | $0 | $0 |
| Capex / revenue | 0.7% | 0.3% | — | 335.4% | 746.5% | 47.1% | 12.9% | 11.4% | 46.2% | 26.2% |
| Capex / operating cash flow | 1.3% | — | — | — | — | — | — | — | — | — |
| Capex / depreciation | 0.16 | 0.37 | 4.63 | 2.59 | 23.03 | 0.88 | 0.50 | 0.66 | 4.12 | 2.29 |
| Stock-based compensation / revenue | 4.4% | 14.1% | — | 6,221.7% | 2,641.0% | 1,044.9% | 861.2% | 258.4% | 503.8% | 595.8% |
| R&D / revenue | 6.2% | 9.1% | — | 16,327.6% | 6,878.2% | 5,591.7% | 3,902.0% | 4,379.4% | 7,435.2% | 7,021.4% |
| SG&A / revenue | 34.1% | 135.0% | — | 30,586.6% | 8,561.3% | 5,801.1% | 3,482.6% | 1,878.7% | 2,627.3% | 3,963.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 130.5 | 216.8 | — | 126.6 | 46.6 | 2.6 | 7.0 | 31.9 | 42.2 | 266.9 |
| Days of inventory on hand | 189.4 | 555.2 | 1,870.0 | — | 179.6 | 429.4 | 375.0 | 470.4 | 1,207.9 | 270.4 |
| Days payables outstanding | 48.7 | 343.2 | 5,754.6 | 215,622.8 | 4,089.8 | 1,917.6 | 1,766.8 | 2,022.5 | 5,482.4 | 1,669.7 |
| Cash conversion cycle (days) | 271.1 | 428.8 | — | -215,349.2 | -3,863.6 | -1,485.6 | -1,384.7 | -1,520.3 | -4,232.3 | -1,132.4 |
| Receivables turnover | 2.80 | 1.68 | — | 2.88 | 7.84 | 141.06 | 51.79 | 11.45 | 8.65 | 1.37 |
| Payables turnover | 7.49 | 1.06 | 0.06 | 0.00 | 0.09 | 0.19 | 0.21 | 0.18 | 0.07 | 0.22 |
| Inventory turnover | 1.93 | 0.66 | 0.20 | — | 2.03 | 0.85 | 0.97 | 0.78 | 0.30 | 1.35 |
| Asset turnover | 0.66 | 0.43 | 0.00 | 0.00 | 0.00 | 0.01 | 0.01 | 0.03 | 0.02 | 0.01 |
| Average receivables | $111.4M | $25.8M | $0 | $22,684 | $24,362 | $1,696 | $5,470 | $37,526 | $38,081 | $163,892 |
| Average payables | $4.8M | $3.0M | $3.2M | $2.2M | $1.7M | $1.1M | $1.8M | $2.2M | $1.7M | $1.7M |
| Average inventory | $18.7M | $4.9M | $1.1M | $1,504 | $73,286 | $241,014 | $383,490 | $511,354 | $380,464 | $271,651 |
| Intangibles / total assets | 49.5% | 1,551.7% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CRMD's annual financial statements (latest annual report filed March 5, 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.
CRMD valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), CorMedix traded at 5.7 times earnings. Based on the latest twelve months, the trailing P/E is 3.5 and the forward P/E is 46.5. CorMedix earned a return on equity of 66.6% and a return on invested capital of 68.5% in fiscal 2025. It ended the year with $148.9 million of debt and $149.5 million in cash and short-term investments, a net cash position of $0.6 million.
See the CRMD income statement, the CRMD chart for price history, or the CRMD stock overview for the latest quote and news.
CRMD key metrics FAQ
What is CorMedix's P/E ratio?
CorMedix's trailing P/E ratio is 3.5 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 46.5. At the end of fiscal 2025 it was 5.7.
What is CorMedix's EV/EBITDA?
CorMedix's enterprise value was 5.6 times EBITDA at the end of fiscal 2025 (enterprise value $933.4 million, EBITDA $167.3 million); the current EV/EBITDA is 1.9.
What is CorMedix's return on equity?
CorMedix's return on equity (ROE) was 66.6% in fiscal 2025: net income of $163.1 million on average shareholders' equity of $245.0 million.
What is CorMedix's ROIC?
CorMedix's return on invested capital was 68.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CorMedix have?
CorMedix had total debt of $148.9 million at the end of fiscal 2025, a debt-to-equity ratio of 0.37 and more cash than debt.
What is CorMedix's free cash flow yield?
CorMedix generated $172.8 million of free cash flow in fiscal 2025, a free cash flow yield of 18.5% on its market value at year-end ($934.0 million).
What is CorMedix's current ratio?
CorMedix's current ratio was 2.11 at the end of fiscal 2025: current assets were 2.11 times current liabilities.