ETON
Eton Pharmaceuticals, Inc.
Next earnings Aug 10, 2026 · consensus $0.11 EPS, $26.8M rev
Last earnings -2.8% on 2026-05-14
$35.70
▲ +2.53%$35.70▲ +164.25%
over 1Y
L $13.50EODHDH $35.70
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.5%
1W+9.1%
1M+10.2%
3M+53.6%
YTD+119.6%
1Y+164.2%
Hold
Conviction
Horizon
Medium (3–12mo)
12-mo target
$•••
Street · 9 analysts
Buy
Rare-disease platform doubled revenue and turned operating cash positive, but 11.8x P/S already prices in flawless execution.
Revenue $80.0M · FY2025
Eton's FY2025 print is a genuine inflection: revenue more than doubled to $80.0M (+104.9% YoY), gross profit jumped to $42.7M, and operating cash flow swung to $10.5M from effectively nothing the prior year. The 10-K attributes the surge to volume gains in INCRELEX, ALKINDI SPRINKLE, and GALZIN, plus $3.3M in licensing (including $1.8M from out-licensing INCRELEX ex-US). Eight commercial rare-disease products with five late-stage candidates (ET-600, Amglidia, ET-700, ET-800, ZENEO) give a real pipeline, and the $25.9M cash balance (+73.7%) is the strongest in years.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $21.8M | $21.3M | $31.6M | $39.0M | $80.0M |
| Gross profit | $19.0M | $14.3M | $21.1M | $23.4M | $42.7M |
| Operating income | -$1.50M | -$8.26M | -$1.19M | -$2.60M | -$844K |
| Net income | -$1.96M | -$9.02M | -$936K | -$3.82M | -$4.60M |
| Diluted EPS | -$0.08 | — | — | — | — |
| Net margin | -9.0% | -42.4% | -3.0% | -9.8% | -5.8% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$979M
EV / EBITDA305.8
EV / Sales12.2
EV / FCF96.0
P / FCF95.6
PEG (trailing)—
Earnings yield-0.5%
FCF yield1.0%
Quality & risk
ROIC (est.)-1.2%
Free cash flow$10.2M
Total debt$30.6M
Net cash-$4.62M
Altman Z-Score8.28 safe
Piotroski F-Score5/9
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Shares Δ YoY+1.7%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsRecent disclosure tone has been improving.
- 8-K Shareholder vote2026-06-09
Annual meeting vote results disclosed; routine shareholder matters approved.
- 8-K Material agreement2026-05-19
Material acquisition/asset deal closed under new agreement, expanding rare-disease portfolio.
- 8-K Earnings results2026-05-14
Q1 2026 results filed; continued top-line momentum on INCRELEX/ALKINDI sales.
- 10-Q Quarterly report2026-05-14
Q1 2026 results filed; continued top-line momentum on INCRELEX/ALKINDI sales.
- 8-K Other event2026-05-01
Other event disclosure, likely product/pipeline update from rare-disease portfolio.
- 8-K Other event2026-04-27
Other event disclosed, plausibly product launch or regulatory progress update.
- DEF 14A Proxy statement2026-04-24
Proxy: routine director election and say-on-pay; no major governance changes.
- 8-K Officer / director change2026-04-16
Executive officer change announced alongside Reg FD investor materials.
- 10-K Annual report2026-03-19
FY25 revenue doubled to $80M, OCF +986% to $10.5M; still small net loss.
Recent filings
all on EDGAR ↗144Filing2026-06-26open ↗144Filing2026-06-25open ↗144Filing2026-06-23open ↗4Period ending 2026-06-172026-06-17open ↗144Filing2026-06-17open ↗8-KPeriod ending 2026-06-092026-06-09open ↗144Filing2026-06-02open ↗3Period ending 2026-06-012026-06-01open ↗4Period ending 2026-05-282026-05-29open ↗144Filing2026-05-28open ↗4Period ending 2026-05-222026-05-27open ↗144Filing2026-05-22open ↗
Frequently asked
- Is Eton Pharmaceuticals, Inc. (ETON) a buy?
- ETON currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. Rare-disease platform doubled revenue and turned operating cash positive, but 11.8x P/S already prices in flawless execution.
- What is Eton Pharmaceuticals, Inc.'s quality score?
- ETON scores 40.13725490196078/100 (grade D) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001710340, latest 10-Q filed 2026-05-14) · EODHD · analysis by claude-code · as of 6/25/2026, 2:35:37 PM.
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