First Tracks Biotherapeutics (TRAX) Key Metrics
TRAX valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $1.23B
- Enterprise value
- $1.15B
- P/E (TTM)
- —
- Forward P/E
- —
- PEG ratio
- —
- Price / sales
- —
- Price / book
- 7.8
- EV / EBITDA
- —
- Dividend yield
- —
- Beta
- —
TRAX key metrics, 2023–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTRAX returns How much profit the business earns on the capital it uses.
TRAX per-share figures Results divided by the shares outstanding at year-end.
TRAX financial health Debt, liquidity and how easily interest is covered.
TRAX efficiency & capital use Working capital cycle and where the cash goes.
TRAX returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TRAX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TRAX key metrics
2023–2025| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Per share | |||
| Revenue per share | $0.00 | $0.00 | $0.00 |
| Earnings per share | −$4.78 | −$4.71 | −$3.05 |
| Operating cash flow per share | −$4.11 | −$3.62 | −$2.68 |
| Free cash flow per share | −$4.12 | −$3.63 | −$2.70 |
| Cash per share | $8.97 | $11.09 | $11.25 |
| Book value per share | $8.27 | $11.27 | $11.79 |
| Tangible book value per share | $8.27 | $11.27 | $11.79 |
| Capex per share | $0.00 | $0.01 | $0.02 |
| Debt per share | $0.41 | $0.46 | $0.51 |
| Shares outstanding | 34.7M | 34.7M | 34.7M |
| Change in shares outstanding | 0.0% | 0.0% | — |
| Returns & profitability | |||
| Return on equity (ROE) | −48.9% | −40.9% | −25.9% |
| Return on invested capital (ROIC) | — | −484.8% | −254.6% |
| Return on assets (ROA) | −43.0% | −37.0% | −23.9% |
| Return on tangible assets | −50.2% | −37.0% | −23.9% |
| Financial health | |||
| Total debt | $14.1M | $16.0M | $17.8M |
| Cash & short-term investments | $311.6M | $385.4M | $390.9M |
| Net debt | −$297.5M | −$369.3M | −$373.1M |
| Debt / equity | 0.05 | 0.04 | 0.04 |
| Debt / assets | 0.04 | 0.04 | 0.04 |
| Current ratio | 10.20 | 10.78 | 21.87 |
| Quick ratio | 10.20 | 10.78 | 21.87 |
| Working capital | $285.4M | $353.8M | $380.3M |
| Invested capital | −$10.0M | $22.3M | $36.8M |
| Tangible asset value | $287.5M | $391.6M | $409.8M |
| Net current asset value | $273.3M | $339.6M | $364.3M |
| Graham net-net per share | $7.73 | $9.64 | $10.26 |
| Capital allocation | |||
| Capex / depreciation | 0.04 | 0.15 | 0.34 |
| Efficiency | |||
| Days payables outstanding | 9.0 | 7.4 | — |
| Payables turnover | 40.49 | 49.06 | — |
| Asset turnover | 0.00 | 0.00 | 0.00 |
| Average payables | $3.4M | $3.1M | $2.4M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% |
Computed from TRAX's annual financial statements (latest annual report filed December 31, 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.
TRAX valuation and financial ratios
First Tracks Biotherapeutics earned a return on equity of −48.9% in fiscal 2025. It ended the year with $14.1 million of debt and $311.6 million in cash and short-term investments, a net cash position of $297.5 million.
See the TRAX income statement, the TRAX chart for price history, or the TRAX stock overview for the latest quote and news.
TRAX key metrics FAQ
What is First Tracks Biotherapeutics's return on equity?
First Tracks Biotherapeutics's return on equity (ROE) was −48.9% in fiscal 2025: net income of -$166.1 million on average shareholders' equity of $339.5 million.
How much debt does First Tracks Biotherapeutics have?
First Tracks Biotherapeutics had total debt of $14.1 million at the end of fiscal 2025, a debt-to-equity ratio of 0.05 and more cash than debt.
What is First Tracks Biotherapeutics's current ratio?
First Tracks Biotherapeutics's current ratio was 10.20 at the end of fiscal 2025: current assets were 10.20 times current liabilities.