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ARS Pharmaceuticals, Inc.

SPRY

$2.62 ▼ -0.43 (-14.10%) at close

7 Visible periods

30 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

ARS Pharmaceuticals, Inc. faces fundamental challenges with weakness in Return on Common Equity (%) and Profit Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $258.2M

Dividend Yield —

Revenue Growth -5.5% ↘

Op. Margin -212.9% ↘

ROIC -85.2% ↘

FCF / Share $-1.74 ↘

Trailing P/E —

Price / Book 2.3x

FCF Yield —

Debt / Equity 0.84

info Valuation on last close. End-of-day price, Nov 5, 2026.

7-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$84.28M

↓ -5.5% —

Net Income Profit after all expenses

$-171.30M

↓ -2241.8% —

Operating Margin Operating profit as % of sales

-212.9%

↓ -6057.0% 0th

FCF / Share Free cash flow per share

$-1.74

↓ -1396.7% —

Long-Term Debt Long-term obligations

$96.37M

— —

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Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile
Profit Margin (%)Profit Margin (%) is in the bottom quartile
Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns

Financial Health ↑

Cash Quality ↑

Financial view

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📈 Is growth accelerating? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Revenue Growth YoY (%)	-5.5% Weak ↓ Weak Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-168%)	297063.3% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+3713192%)	-97.7% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1322%)	-76.1% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-1051%)	—	—	—
EPS Growth YoY (%)	N/M	N/M	34.5% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	-24.3% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—
Net Income Growth YoY (%)	N/M	N/M	-56.8% Weak ↓ Weak Declining Year-over-year change in net income	-71.3% Weak Weak Year-over-year change in net income	38.6% Excellent Excellent Year-over-year change in net income	—	—
FCF Growth YoY (%)	N/M	N/M	38.1% Excellent Excellent Year-over-year change in free cash flow	-65.2% Weak Weak Year-over-year change in free cash flow	—	—	—
Revenue CAGR 3Y (%)	300.1% Excellent Excellent Compound annual revenue growth over 3 years	153.0% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Operating Margin (%) (%)	-212.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1519%)	-3.5% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-123%)	—	—	-353.3% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-2455%)	—	—
Effective Tax Rate (%) (%)	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	3.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—
Profit Margin (%) (%)	-203.3% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-1794%)	9.0% Caution Caution Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-25%)	—	—	-367.7% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-3164%)	—	—
FCF Margin (%) (%)	-203.1% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	14.6% Fair Fair Free cash flow as a percentage of revenue Optimal: > 10%	—	—	-319.9% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—	—
FCF / Net Income (x)	1.00x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.62x Excellent ↑ Excellent Improving Free cash flow relative to reported net income Optimal: > 1x	1.09x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	1.16x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.87x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.97x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Return on Invested Capital (%)	-85.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-1.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-29.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-10.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	49.1% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	-6.8% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-54.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-0.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-29.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-12.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-31.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	-8.3% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-149.9% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1099%)	3.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-79%)	-23.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-257%)	-12.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-185%)	64.7% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+332%)	-8.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-157%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Debt to Equity (x)	0.84x Fair Fair Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+41%)	0.00x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-100%)	—	—	—	—	—
Interest Coverage (x)	-73.18x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	-1135.10x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$55.06M	$-50.82M	$-70.97M	$-210.52M	$-60.06M	$-386.57M	—
Debt / EBITDA (x)	-0.54x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	0.00x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Revenue per Share (USD)	$0.86	$0.92	$0.00	$0.03	$0.19	—	—
Basic EPS, GAAP (USD)	$-1.74	$0.08	$-0.57	$-0.87	$-0.70	—	—
Free Cash Flow per Share (USD)	$-1.74	$0.13	$-0.62	$-1.01	$-0.61	—	—
Book Value per Share (USD)	$1.15	$2.62	$2.39	$2.90	$-1.03	$11.03	—
Tangible Book Value per Share (USD)	$1.01	$2.55	$2.39	$2.90	$-1.03	$11.03	—
Basic Weighted Avg Shares (shares)	98.57M	96.94M	95.22M	39.96M	28.87M	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Working Capital (USD)	$245.75M	$310.86M	$229.34M	$272.26M	$52.54M	$381.06M	—
LT Debt (USD)	$96.37M	$0.00	—	—	—	—	—
Total Equity (USD)	$114.26M	$256.80M	$230.76M	$272.89M	$-31.27M	$382.88M	$-58.78M

📋 What is driving earnings? 4 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗
Sales/Revenue/Turnover (USD)	$84.28M	$89.15M	$30.00K	$1.32M	$5.51M	—	—
Depreciation Expense (USD)	—	—	$73.00K	$34.00K	—	$637.00K	—
Net Income, GAAP (USD)	$-171.30M	$8.00M	$-54.37M	$-34.68M	$-20.24M	$-32.95M	—
Operating Cash Flow (USD)	$-170.87M	$13.55M	$-59.27M	$-40.08M	$-17.56M	$-31.20M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 7 years · 27 quarters

ARS Pharmaceuticals, Inc.

Analytical Summary

7-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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