A Business at a Glance
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OCULAR THERAPEUTIX, INC
OCUL
$1.6B
Mkt Cap
$8.51
-1.33%
OCULAR THERAPEUTIX, INC (OCUL) has a 5-year average return on invested capital (ROIC) of -37.2%. This is below average and may indicate limited pricing power.
OCULAR THERAPEUTIX, INC (OCUL) has a market capitalization of $1.6B. It is classified as a small-cap stock.
OCULAR THERAPEUTIX, INC (OCUL) does not currently pay a regular dividend.
OCULAR THERAPEUTIX, INC (OCUL) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
OCULAR THERAPEUTIX, INC (OCUL) generated $-217 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
OCULAR THERAPEUTIX, INC (OCUL) has a debt-to-equity ratio of 0.11. This indicates a conservatively financed balance sheet.
OCULAR THERAPEUTIX, INC (OCUL) reported earnings per share (EPS) of $-1.42 in its most recent fiscal year.
Item 1. We are an integrated biopharmaceutical company committed to redefining the retina experience. AXPAXLI, also known as OTX-TKI, our investigational product candidate for retinal disease, is an axitinib intravitreal hydrogel based on our ELUTYX proprietary bioresorbable hydrogel-based formulation technology. AXPAXLI is currently being evaluated in a Phase 3 registrational program for wet age-related macular degeneration, or wet AMD, which we refer to as the SOL program. AXPAXLI is currently also being evaluated in a Phase 3 registrational program for diabetic retinal disease, including non-proliferative diabetic retinopathy, or NPDR, which we refer to as the HELIOS program. We also leverage the ELUTYX technology in our commercial product DEXTENZA, a corticosteroid approved by the U.S.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 0 | - | - | 58M | 51M | 44M |
| Net Income | -266M | -266M | -194M | -81M | -71M | -6.6M |
| EPS | $-1.42 | $-1.42 | $-1.22 | $-1.02 | $-0.97 | $-0.98 |
| Free Cash Flow | -217M | -217M | -136M | -76M | -63M | -67M |
| ROIC | -26.4% | -36.6% | -50.4% | -51.5% | -41.6% | -5.8% |
| Gross Margin | - | - | - | 91.0% | 91.2% | 89.9% |
| Debt/Equity | 0.11 | 0.11 | 0.22 | 0.72 | 0.71 | 0.38 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -270M | -270M | -172M | -82M | -79M | -78M |
| Operating Margin | 0.0% | - | - | -141.0% | -152.7% | -179.3% |
| ROE | -40.6% | -54.9% | -61.4% | -88.6% | -200.8% | -7.4% |
| Shares Outstanding | 187M | 187M | 159M | 159M | 149M | 78M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 44M | 51M | 58M | N/A | N/A | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 89.9% | 91.2% | 91.0% | N/A | N/A | N/A |
| R&D | 19M | 27M | 27M | 31M | 37M | 41M | 29M | 50M | 53M | 61M | 128M | 197M | 197M |
| SG&A | 6.9M | 9.2M | 11M | 16M | 19M | 22M | 23M | 32M | 32M | 34M | 61M | 64M | 64M |
| EBIT | -27M | -38M | -43M | -62M | -59M | -86M | -63M | -78M | -79M | -82M | -172M | -270M | -270M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -179.3% | -152.7% | -141.0% | N/A | N/A | 0.0% |
| Net Income | -29M | -40M | -45M | -63M | -60M | -86M | -156M | -6.6M | -71M | -81M | -194M | -266M | -266M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -15.1% | -138.0% | -138.1% | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 2.5M | 2.5M | 2.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -39.7% | -37.9% | -67.6% | -88.3% | -98.9% | -86.1% | -19.0% | -5.8% | -41.6% | -51.5% | -50.4% | -36.6% | -26.4% |
| ROE | -48.8% | -44.4% | -86.0% | -242.4% | -167.2% | N/A | -204.5% | -7.4% | -200.8% | -88.6% | -61.4% | -54.9% | -40.6% |
| ROA | -36.7% | -36.0% | -59.7% | -114.4% | -82.1% | -109.7% | -59.4% | -3.2% | -47.6% | -32.0% | -42.3% | -42.0% | -32.9% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -20M | -34M | -34M | -50M | -49M | -78M | -54M | -66M | -60M | -70M | -135M | -205M | -205M |
| Free Cash Flow | -22M | -36M | -36M | -59M | -51M | -80M | -54M | -67M | -63M | -76M | -136M | -217M | -217M |
| Owner Earnings | -24M | -39M | -41M | -59M | -59M | -89M | -64M | -83M | -79M | -91M | -172M | -252M | -252M |
| CapEx | 1.3M | 1.8M | 1.9M | 8.3M | 1.9M | 2.2M | 841K | 1.2M | 3.7M | 6.1M | 1.3M | 12M | 12M |
| Maint. CapEx | 547K | 754K | 881K | 1.6M | 2.3M | 2.5M | 2.8M | 2.4M | 2.1M | 3.0M | 3.8M | 4.3M | 4.3M |
| Growth CapEx | 713K | 1.0M | 1.0M | 6.6M | 0 | 0 | 0 | 0 | 1.6M | 3.1M | 0 | 7.7M | 7.7M |
| D&A | 547K | 754K | 881K | 1.6M | 2.3M | 2.5M | 2.8M | 2.4M | 2.1M | 3.0M | 3.8M | 4.3M | 4.3M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 2.6M | 4.6M | 6.0M | 7.3M | 7.5M | 8.8M | 7.5M | 15M | 17M | 18M | 33M | 43M | 43M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26M | 26M | 26M | 26M |
| Balance Sheet | |||||||||||||
| Net Debt | -59M | -88M | -51M | -60M | -53M | -84M | -423M | -295M | -179M | -326M | -716M | -1.4B | -666M |
| Cash & Equiv. | 37M | 31M | 33M | 42M | 54M | 54M | 228M | 164M | 102M | 196M | 392M | 737M | 737M |
| Long-Term Debt | 14M | 15M | 14M | 12M | 25M | 25M | 17M | 25M | 25M | 66M | 69M | 71M | 71M |
| Debt/Equity | 0.28 | 0.19 | 0.33 | 0.90 | 1.54 | -6.89 | 0.44 | 0.38 | 0.71 | 0.72 | 0.22 | 0.11 | 0.11 |
| Interest Coverage | -24.2 | -22.2 | -25.8 | -32.7 | -34.0 | -14.1 | -9.3 | -11.7 | -11.2 | -7.3 | -12.7 | -22.8 | -22.8 |
| Equity | 59M | 90M | 52M | 26M | 36M | -3.6M | 76M | 88M | 35M | 91M | 315M | 654M | 654M |
| Total Assets | 78M | 110M | 75M | 55M | 73M | 79M | 262M | 205M | 149M | 252M | 458M | 808M | 808M |
| Total Liabilities | 19M | 21M | 23M | 29M | 37M | 82M | 186M | 117M | 114M | 161M | 143M | 154M | 154M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -89M | -129M | -174M | -237M | -297M | -384M | -539M | -546M | -617M | -698M | -891M | -1.2B | -1.2B |
| Working Capital | 70M | 102M | 62M | 30M | 47M | 48M | 219M | 165M | 98M | 197M | 400M | 731M | 731M |
| Current Assets | 76M | 107M | 70M | 43M | 56M | 60M | 246M | 191M | 130M | 232M | 441M | 782M | 782M |
| Current Liabilities | 5.9M | 5.4M | 8.3M | 13M | 9.2M | 12M | 27M | 26M | 31M | 35M | 41M | 51M | 51M |
| Per Share Data | |||||||||||||
| EPS | -2.69 | -1.71 | -1.80 | -2.20 | -1.57 | -1.91 | -2.56 | -0.98 | -0.97 | -1.02 | -1.22 | -1.42 | -1.42 |
| Owner EPS | -0.96 | -1.68 | -1.64 | -2.06 | -1.54 | -1.97 | -1.05 | -1.07 | -0.53 | -0.57 | -1.08 | -1.35 | -1.35 |
| Book Value | 2.37 | 3.85 | 2.09 | 0.91 | 0.94 | -0.08 | 1.25 | 1.14 | 0.24 | 0.57 | 1.99 | 3.49 | 3.49 |
| Cash Flow/Share | -0.83 | -1.45 | -1.37 | -1.75 | -1.29 | -1.72 | -0.88 | -0.85 | -0.40 | -0.44 | -0.85 | -1.09 | -1.40 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 24.8M | 23.2M | 24.8M | 28.8M | 38.2M | 45.2M | 60.8M | 77.5M | 148.6M | 159.0M | 158.6M | 187.3M | 187.3M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -6.0 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 4.2 | 2.6 | 3.9 | 4.9 | 4.4 | N/A | 16.3 | 5.9 | 5.5 | 3.9 | 4.2 | 3.6 | 2.4 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 24.0 | 6.4 | 6.0 | N/A | N/A | N/A |
| FCF Yield | -8.9% | -15.4% | -17.7% | -45.4% | -32.4% | -42.1% | -4.4% | -12.9% | -32.7% | -21.3% | -10.2% | -9.2% | -13.6% |
| Market Cap | 245M | 230M | 203M | 129M | 158M | 189M | 1.2B | 518M | 193M | 358M | 1.3B | 2.4B | 1.6B |
| Avg. Price | 15.76 | 22.16 | 7.85 | 7.41 | 6.07 | 3.92 | 8.54 | 13.48 | 4.47 | 4.41 | 7.81 | 9.92 | 8.51 |
| Year-End Price | 23.02 | 9.91 | 8.18 | 4.49 | 4.13 | 4.19 | 20.39 | 6.68 | 2.64 | 4.52 | 8.44 | 12.56 | 8.51 |
OCULAR THERAPEUTIX, INC passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 90.7%.
OCULAR THERAPEUTIX, INC (OCUL) has a return on equity (ROE) of -54.9%. A negative ROE may indicate losses or negative equity.
OCULAR THERAPEUTIX, INC (OCUL) has a 5-year average gross margin of 90.7%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 12 years of financial data for OCULAR THERAPEUTIX, INC (OCUL), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
OCULAR THERAPEUTIX, INC (OCUL) has a book value per share of $3.49, based on its most recent annual SEC filing.