Janux Therapeutics, Inc. (JANX) Key Metrics
JANX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.01B
- Enterprise value
- $60.1M
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- 42.1 10-yr median 85.5
- Price / book
- 1.1 10-yr median 1.7
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- 2.39
JANX key metrics, 2019–2025
Fiscal year ended December 31, 2025 · U.S. dollarsJANX valuation Price multiples at each fiscal year-end price.
JANX returns How much profit the business earns on the capital it uses.
JANX per-share figures Results divided by the shares outstanding at year-end.
JANX financial health Debt, liquidity and how easily interest is covered.
JANX efficiency & capital use Working capital cycle and where the cash goes.
JANX valuation history
JANX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
JANX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
JANX cash returned to shareholders
JANX price vs earnings per share
JANX key metrics
2019–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Valuation | |||||||
| Market capitalization | $855.1M | $2.88B | $472.3M | $546.2M | $813.7M | — | — |
| Enterprise value | −$89.3M | $1.88B | $152.8M | $244.4M | $439.0M | — | — |
| Price / sales | 85.5 | 271.8 | 58.4 | 63.4 | 223.7 | — | — |
| Price / book | 0.9 | 2.8 | 1.4 | 1.7 | 2.2 | — | — |
| EV / sales | -8.9 | 177.2 | 18.9 | 28.4 | 120.7 | — | — |
| Earnings yield | −13.3% | −2.4% | −12.3% | −9.9% | −4.0% | — | — |
| Free cash flow yield | −9.7% | −1.5% | −11.1% | −9.0% | −2.3% | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | — | — | — | 0.0% | — | — |
| Share price at fiscal year-end | $13.80 | $53.54 | $10.73 | $13.17 | $19.73 | — | — |
| Per share | |||||||
| Revenue per share | $0.16 | $0.20 | $0.18 | $0.21 | $0.09 | $0.01 | $0.00 |
| Earnings per share | −$1.83 | −$1.28 | −$1.32 | −$1.31 | −$0.79 | −$0.16 | −$0.10 |
| Operating cash flow per share | −$1.33 | −$0.82 | −$1.15 | −$1.04 | −$0.41 | −$0.10 | −$0.09 |
| Free cash flow per share | −$1.34 | −$0.82 | −$1.19 | −$1.19 | −$0.45 | −$0.10 | −$0.09 |
| Cash per share | $15.60 | $19.07 | $7.82 | $7.89 | $9.09 | $0.19 | $0.02 |
| Book value per share | $15.44 | $19.03 | $7.82 | $7.73 | $8.88 | −$0.35 | −$0.19 |
| Tangible book value per share | $15.44 | $19.03 | $7.82 | $7.73 | $8.88 | −$0.35 | −$0.19 |
| Capex per share | $0.02 | $0.01 | $0.04 | $0.16 | $0.04 | $0.04 | $0.04 |
| Debt per share | $0.36 | $0.43 | $0.56 | $0.61 | $0.00 | $0.02 | $0.10 |
| Shares outstanding | 62.0M | 53.8M | 44.0M | 41.5M | 41.2M | 41.6M | 41.6M |
| Change in shares outstanding | +15.3% | +22.1% | +6.1% | +0.5% | −0.9% | 0.0% | — |
| Returns & profitability | |||||||
| Return on equity (ROE) | −11.5% | −10.1% | −17.5% | −15.8% | −18.5% | — | — |
| Return on invested capital (ROIC) | −754.3% | −343.3% | −262.7% | — | — | — | — |
| Return on assets (ROA) | −11.0% | −9.6% | −15.7% | −14.6% | −16.4% | −80.3% | −624.0% |
| Return on tangible assets | −11.3% | −6.5% | −15.3% | −14.9% | −8.6% | −41.8% | −624.0% |
| Free cash flow margin | −832.8% | −417.2% | −648.6% | −573.2% | −507.5% | — | — |
| Financial health | |||||||
| Total debt | $22.1M | $23.0M | $24.5M | $25.3M | $194,000 | $751,000 | $4.0M |
| Cash & short-term investments | $966.6M | $1.03B | $344.0M | $327.0M | $375.0M | $7.8M | $658,000 |
| Net debt | −$944.4M | −$1.00B | −$319.5M | −$301.7M | −$374.8M | −$7.1M | $3.3M |
| Debt / equity | 0.02 | 0.02 | 0.07 | 0.08 | 0.00 | — | — |
| Debt / assets | 0.02 | 0.02 | 0.06 | 0.07 | 0.00 | 0.05 | 5.89 |
| Current ratio | 39.04 | 59.21 | 26.80 | 20.14 | 29.46 | 5.05 | 0.14 |
| Quick ratio | 39.04 | 59.21 | 26.97 | 20.18 | 29.48 | 5.05 | 0.14 |
| Interest coverage | — | — | — | -16.6 | -89.0 | -23.5 | -16.2 |
| Working capital | $950.9M | $1.02B | $336.2M | $315.9M | $364.2M | $12.9M | −$4.0M |
| Invested capital | $12.4M | $20.6M | $24.9M | $19.0M | −$8.4M | −$21.7M | −$4.6M |
| Tangible asset value | $956.8M | $1.02B | $344.3M | $320.7M | $366.3M | −$14.6M | −$7.9M |
| Net current asset value | $925.2M | $994.9M | $313.2M | $289.2M | $363.5M | −$14.8M | −$8.0M |
| Graham net-net per share | $14.86 | $18.43 | $7.01 | $6.85 | $8.77 | −$0.41 | −$0.19 |
| Capital allocation | |||||||
| Share buybacks (net) | $347,000 | — | — | — | $0 | — | — |
| Capex / revenue | 10.4% | 3.4% | 22.9% | 74.8% | 40.7% | 390.0% | — |
| Capex / depreciation | 0.51 | 0.17 | 0.95 | 7.66 | 13.12 | 114.00 | 247.00 |
| Stock-based compensation / revenue | 402.2% | 311.9% | 247.5% | 199.8% | 190.0% | 18.9% | — |
| R&D / revenue | 1,259.0% | 645.9% | 679.5% | 620.5% | 721.4% | 800.3% | — |
| SG&A / revenue | 417.7% | 387.7% | 323.4% | 258.5% | 284.0% | 474.2% | — |
| Efficiency | |||||||
| Days sales outstanding | 215.5 | 130.7 | 65.5 | 19.1 | 411.5 | 3,842.1 | — |
| Days of inventory on hand | — | — | -270.7 | -2.2 | -2.0 | — | — |
| Days payables outstanding | 809.2 | 571.4 | 427.8 | 11.1 | 14.4 | 9,756.7 | 16,242.5 |
| Cash conversion cycle (days) | -593.7 | -440.8 | -633.1 | 5.8 | 395.1 | -5,914.6 | — |
| Receivables turnover | 1.69 | 2.79 | 5.57 | 19.14 | 0.89 | 0.10 | — |
| Payables turnover | 0.45 | 0.64 | 0.85 | 32.79 | 25.34 | 0.04 | 0.02 |
| Asset turnover | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.04 | 0.00 |
| Average receivables | $5.9M | $3.8M | $1.4M | $450,000 | $4.1M | $4.0M | $0 |
| Average payables | $4.5M | $3.2M | $2.3M | $2.3M | $1.4M | $347,500 | $267,000 |
| Average inventory | — | — | −$1.4M | −$450,000 | −$200,000 | — | — |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from JANX's annual financial statements (latest annual report filed February 26, 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.
JANX valuation and financial ratios
Janux Therapeutics earned a return on equity of −11.5% and a return on invested capital of −754.3% in fiscal 2025. It ended the year with $22.1 million of debt and $966.6 million in cash and short-term investments, a net cash position of $944.4 million. It returned $0.3 million to shareholders: $0 in dividends and $0.3 million in share buybacks. The share count rose 48.9% from 41.6M to 62.0M over 6 years.
See the JANX income statement, the JANX chart for price history, or the JANX stock overview for the latest quote and news.
JANX key metrics FAQ
What is Janux Therapeutics's return on equity?
Janux Therapeutics's return on equity (ROE) was −11.5% in fiscal 2025: net income of -$113.6 million on average shareholders' equity of $989.8 million.
What is Janux Therapeutics's ROIC?
Janux Therapeutics's return on invested capital was −754.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Janux Therapeutics have?
Janux Therapeutics had total debt of $22.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.02 and more cash than debt.
Does Janux Therapeutics buy back its shares?
Yes. Janux Therapeutics spent $0.3 million on net share repurchases in fiscal 2025 Shares outstanding changed +15.3% over the year, to 62.0M..
What is Janux Therapeutics's free cash flow yield?
Janux Therapeutics generated -$83.3 million of free cash flow in fiscal 2025, a free cash flow yield of −9.7% on its market value at year-end ($855.1 million).
What is Janux Therapeutics's current ratio?
Janux Therapeutics's current ratio was 39.04 at the end of fiscal 2025: current assets were 39.04 times current liabilities.