Tekla Life Sciences Investors (HQL) Key Metrics
HQL valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $547.3M
- Enterprise value
- $509.4M
- P/E (TTM)
- 2.5 10-yr median 6.7
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 3.1 10-yr median 7.1
- Price / book
- 1.1 10-yr median 0.9
- EV / EBITDA
- — 10-yr median 6.7
- Dividend yield
- 12.44% $2.24 a year
- Beta
- 0.73
HQL key metrics, FY2016–FY2025
Fiscal year ended September 30, 2025 · U.S. dollarsHQL valuation Price multiples at each fiscal year-end price.
HQL returns How much profit the business earns on the capital it uses.
HQL per-share figures Results divided by the shares outstanding at year-end.
HQL financial health Debt, liquidity and how easily interest is covered.
HQL efficiency & capital use Working capital cycle and where the cash goes.
HQL valuation history
HQL returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HQL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HQL cash returned to shareholders
HQL price vs earnings per share
HQL key metrics
FY2016–FY2025| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $447.8M | $423.1M | $352.8M | $350.8M | $504.6M | $419.2M | $350.0M | $457.5M | $458.7M | $388.5M |
| Enterprise value | $447.7M | $423.1M | $337.6M | $361.9M | $505.9M | $414.3M | $348.9M | $457.5M | $458.1M | $378.6M |
| P/E ratio | 5.2 | 5.0 | 15.8 | — | 7.8 | 3.4 | — | 16.0 | 6.7 | — |
| Price / sales | 5.2 | 4.9 | 15.0 | — | 7.7 | 3.4 | — | 230.4 | 6.6 | 61.7 |
| Price / book | 0.9 | 0.9 | 0.9 | 0.9 | 1.0 | 0.9 | 0.9 | 1.0 | 1.0 | 0.9 |
| EV / sales | 5.2 | 4.9 | 14.4 | — | 7.7 | 3.3 | — | 230.4 | 6.6 | 60.2 |
| EV / EBITDA | 5.2 | 4.9 | 15.1 | — | 7.8 | 3.4 | — | 7.5 | 6.7 | — |
| Earnings yield | 19.1% | 20.2% | 6.3% | −29.8% | 12.8% | 29.4% | −20.1% | 6.3% | 14.9% | −3.1% |
| Free cash flow yield | −0.5% | — | — | — | −0.0% | — | −0.0% | — | — | — |
| Dividend yield | 7.1% | — | — | — | — | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 7.1% | — | — | — | — | — | — | — | — | — |
| Share price at fiscal year-end | $15.51 | $15.08 | $12.47 | $13.66 | $20.80 | $17.58 | $15.10 | $20.42 | $21.48 | $18.73 |
| Per share | ||||||||||
| Revenue per share | $2.99 | $3.09 | $0.83 | $0.00 | $2.71 | $5.20 | $0.00 | $0.09 | $3.27 | $0.30 |
| Earnings per share | $2.96 | $3.04 | $0.79 | −$4.07 | $2.66 | $5.16 | −$3.04 | $1.28 | $3.21 | −$0.57 |
| Operating cash flow per share | −$0.08 | — | — | — | −$0.00 | — | −$0.00 | — | — | — |
| Free cash flow per share | −$0.08 | — | — | — | −$0.00 | — | −$0.00 | — | — | — |
| Cash per share | $0.00 | $0.00 | $0.54 | $0.00 | $0.00 | $0.21 | $0.05 | $0.00 | $0.03 | $0.48 |
| Book value per share | $17.79 | $16.38 | $14.21 | $15.49 | $21.58 | $20.28 | $16.55 | $21.22 | $21.84 | $20.01 |
| Tangible book value per share | $17.79 | $16.38 | $14.21 | $15.49 | $21.58 | $20.28 | $16.55 | $21.22 | $21.84 | $20.01 |
| Dividends per share | $1.10 | — | — | — | — | — | — | — | — | — |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | — | — | — | $0.43 | $0.06 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Shares outstanding | 28.9M | 28.1M | 28.3M | 25.7M | 24.3M | 23.8M | 23.2M | 22.4M | 21.4M | 20.7M |
| Change in shares outstanding | +2.9% | −0.8% | +10.2% | +5.9% | +1.7% | +2.9% | +3.5% | +4.9% | +3.0% | +5.4% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 17.6% | 19.8% | 5.6% | −22.7% | 12.8% | 28.4% | −16.4% | 6.1% | 15.6% | −2.7% |
| Return on invested capital (ROIC) | 13.9% | 15.9% | 2.8% | −17.7% | 12.9% | 28.6% | −13.0% | −0.8% | −0.9% | −0.7% |
| Return on assets (ROA) | 17.5% | 19.8% | 5.5% | −22.0% | 12.7% | 28.3% | −16.3% | 6.1% | 15.5% | −2.7% |
| Return on tangible assets | 16.6% | 18.5% | 5.6% | −25.2% | 12.1% | 25.4% | −18.2% | 6.0% | 14.6% | −2.9% |
| Free cash flow margin | −2.7% | — | — | — | −0.0% | — | — | — | — | — |
| Income quality (OCF / net income) | −0.03 | — | — | — | −0.00 | — | — | — | — | — |
| Financial health | ||||||||||
| Total debt | — | — | — | $11.1M | $1.3M | $26,030 | $0 | $0 | $0 | $0 |
| Cash & short-term investments | $75,538 | $1 | $15.2M | $445 | $990 | $5.0M | $1.1M | $40 | $615,310 | $9.9M |
| Net debt | −$75,538 | −$1 | −$15.2M | $11.1M | $1.3M | −$4.9M | −$1.1M | −$40 | −$615,310 | −$9.9M |
| Debt / equity | — | — | — | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Debt / assets | — | — | — | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net debt / EBITDA | −0.00 | −0.00 | −0.68 | — | 0.02 | −0.04 | — | −0.00 | −0.01 | — |
| Current ratio | 1.74 | 0.32 | — | 0.12 | 0.01 | 0.13 | 1.80 | 4.76 | 0.48 | 7.56 |
| Quick ratio | 1.74 | 0.32 | — | −6.46 | −1.60 | 0.13 | −4.40 | 4.76 | −7.33 | 7.56 |
| Interest coverage | — | — | — | — | — | — | -1.0 | -0.1 | -0.1 | -0.5 |
| Working capital | $531,598 | −$607,002 | — | −$4.5M | −$10.6M | −$507,345 | $2.3M | $8.8M | −$676,956 | $17.5M |
| Invested capital | $513.6M | $459.7M | $386.7M | $409.0M | $524.8M | $478.6M | $382.5M | $475.5M | $465.7M | $405.1M |
| Tangible asset value | $513.7M | $459.7M | $401.9M | $397.9M | $523.4M | $483.6M | $384.2M | $475.5M | $466.4M | $415.0M |
| Net current asset value | −$473,556 | −$607,002 | $4.4M | −$16.2M | −$10.6M | −$521,288 | $2.3M | $8.2M | −$1.3M | $17.5M |
| Graham number | $34.45 | $33.48 | $15.89 | — | $35.94 | $48.52 | — | $24.72 | $39.71 | — |
| Graham net-net per share | −$0.03 | −$0.03 | $1.01 | $0.02 | −$0.08 | $0.19 | $0.45 | $0.24 | $0.18 | $0.72 |
| Capital allocation | ||||||||||
| Dividends paid | $31.6M | — | — | — | — | — | — | — | — | — |
| Dividend payout ratio | 37.0% | — | — | — | — | — | — | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% |
| Capex / depreciation | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| R&D / revenue | — | — | 0.0% | — | 0.0% | 0.0% | — | — | 0.0% | 0.0% |
| SG&A / revenue | 0.9% | 1.5% | 3.8% | — | 1.3% | 0.6% | — | 281.6% | 1.4% | 83.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 2.9 | 11.1 | 44.0 | — | 0.6 | 6.5 | — | 1,030.2 | 26.8 | 340.9 |
| Days of inventory on hand | — | — | 1,874.2 | 1,673.6 | 1,128.1 | — | 712.9 | — | 811.1 | — |
| Days payables outstanding | 26.5 | 0.1 | — | 172.7 | 9.8 | — | 210.6 | 140.0 | 135.2 | 232.8 |
| Cash conversion cycle (days) | -23.6 | 11.0 | — | — | 1,119.0 | — | — | 1,282.0 | 702.7 | 108.1 |
| Receivables turnover | 126.18 | 32.86 | 8.30 | 0.00 | 585.88 | 55.94 | 0.00 | 0.35 | 13.63 | 1.07 |
| Payables turnover | 13.76 | 2,991.21 | — | 2.11 | 37.27 | — | 1.73 | 2.61 | 2.70 | 1.57 |
| Inventory turnover | — | — | 0.19 | 0.22 | 0.32 | — | 0.51 | — | 0.45 | — |
| Asset turnover | 0.18 | 0.20 | 0.06 | 0.00 | 0.13 | 0.28 | 0.00 | 0.00 | 0.16 | 0.01 |
| Average receivables | $684,602 | $2.6M | $2.8M | $386,906 | $112,119 | $2.2M | $7.8M | $5.6M | $5.1M | $5.9M |
| Average payables | $361,346 | $1,791 | — | $2.6M | $150,341 | — | $2.6M | $1.8M | $1.7M | $3.2M |
| Average inventory | — | — | $26.9M | $25.4M | $17.3M | — | $8.8M | $5.1M | $10.2M | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from HQL's annual financial statements (latest annual report filed September 30, 2025) 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.
HQL valuation and financial ratios
At the end of fiscal 2025 (September 30, 2025), Tekla Life Sciences Investors traded at 5.2 times earnings, against a 10-year median of 6.7. Based on the latest twelve months, the trailing P/E is 2.5. Tekla Life Sciences Investors earned a return on equity of 17.6% and a return on invested capital of 13.9% in fiscal 2025. It returned $31.6 million to shareholders: $31.6 million in dividends and $0 in share buybacks. The share count rose 39.2% from 20.7M to 28.9M over 9 years.
See the HQL income statement, the HQL chart for price history, or the HQL stock overview for the latest quote and news.
HQL key metrics FAQ
What is Tekla Life Sciences Investors's P/E ratio?
Tekla Life Sciences Investors's trailing P/E ratio is 2.5 based on the last twelve months of earnings (as of October 18, 2026). At the end of fiscal 2025 it was 5.2, compared with a 10-year median of 6.7.
What is Tekla Life Sciences Investors's EV/EBITDA?
Tekla Life Sciences Investors's enterprise value was 5.2 times EBITDA at the end of fiscal 2025 (enterprise value $447.7 million, EBITDA $85.6 million).
What is Tekla Life Sciences Investors's return on equity?
Tekla Life Sciences Investors's return on equity (ROE) was 17.6% in fiscal 2025: net income of $85.6 million on average shareholders' equity of $486.7 million.
What is Tekla Life Sciences Investors's ROIC?
Tekla Life Sciences Investors's return on invested capital was 13.9% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
What is Tekla Life Sciences Investors's dividend yield?
Tekla Life Sciences Investors's forward dividend yield is 12.44%. Tekla Life Sciences Investors paid $31.6 million in dividends in fiscal 2025 ($1.10 per share), a payout ratio of 37.0%.
What is Tekla Life Sciences Investors's free cash flow yield?
Tekla Life Sciences Investors generated -$2.3 million of free cash flow in fiscal 2025, a free cash flow yield of −0.5% on its market value at year-end ($447.8 million).
What is Tekla Life Sciences Investors's current ratio?
Tekla Life Sciences Investors's current ratio was 1.74 at the end of fiscal 2025: current assets were 1.74 times current liabilities.