DBV Technologies SA
DBVTHealthcare|Biotechnology|France
$16.49
+0.41 (+2.55%)
Tangible Book
$3.53
Earnings Power
$2.43
Financials
Financial Snapshot
Market Cap
$961.1M
Enterprise Value
$220.3M
Revenue (TTM)
$0.00
Net Income (TTM)
$-167.5M
Cash & Equivalents
—
Net Cash/Share
$2.89
Free Cash Flow (TTM)
$-151.0M
Operating CF (TTM)
$-150.6M
Debt/Equity
0.03
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$37.6M
Monthly Burn
$12.5M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $269.7M | $165.4M | $140.4M | $193.3M | $196.4M | $77.3M | $209.2M | $141.4M | $32.5M | $194.2M | $229.2M | |
| Operating Cash Flow | $-62.6M | $-137.1M | $-156.3M | $-148.3M | $-165.6M | $-108.2M | $-55.7M | $-79.7M | $-104.5M | $-121.2M | $-150.6M | |
| Free Cash Flow | $-71.2M | $-146.2M | $-161.7M | $-153.9M | $-168.4M | $-109.2M | $-56.4M | $-80.3M | $-106.8M | $-121.7M | $-151.5M | |
| Capital Expenditure | $-8.6M | $-9.1M | $-5.4M | $-5.6M | $-2.8M | $-918.0K | $-754.0K | $-677.0K | $-2.3M | $-538.0K | $-896.0K | |
| Financing Cash Flow | $1.8M | $343.0K | $149.5M | $207.6M | $149.5M | $274.0K | $194.1M | $6.8M | $587.0K | $276.2M | $365.1M |
R&D Spending
R&D (TTM)
$128.6M
R&D Intensity
—
R&D Growth YoY
+10.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $82.9M | $126.2M | $122.6M | $115.1M | $101.6M | $70.3M | $75.5M | $60.2M | $89.3M | $116.7M | $128.6M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | — | — | — | |
| SG&A | $48.5M | $61.5M | $82.1M | $70.4M | $31.0M | $21.7M | $17.6M | $22.8M | $23.9M | $28.3M | $37.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $82.9M | $126.2M | $122.6M | $115.1M | $101.6M | $70.3M | $75.5M | $60.2M | $89.3M | $116.7M | $128.6M | |
| SG&A | $48.5M | $61.5M | $82.1M | $70.4M | $31.0M | $21.7M | $17.6M | $22.8M | $23.9M | $28.3M | $37.4M | |
| Operating Income | $-122.0M | $-173.9M | $-190.1M | $-171.0M | $-135.3M | $-99.5M | $-96.6M | $-76.4M | $-116.6M | $-147.1M | $-168.3M | |
| Interest Expense | $-17.0K | $-4.0M | $-402.0K | $-378.0K | $-724.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-648.0K | |
| Pretax Income | $-120.5M | $-177.2M | $-190.0M | $-171.4M | $-159.6M | $-98.2M | $-96.2M | $-72.7M | $-113.9M | $-146.5M | $-166.8M | |
| Net Income | $-120.5M | $-177.2M | $-190.0M | $-172.0M | $-159.6M | $-97.8M | $-96.3M | $-72.7M | $-113.9M | $-146.9M | $-167.5M | |
| EPS (Diluted) | -24.61 | -35.81 | -32.83 | -23.25 | -14.75 | -8.90 | -6.20 | -3.80 | -5.85 | -5.25 | -4.45 | |
| EBITDA | $-119.0M | $-169.7M | $-186.3M | $-168.4M | $-121.4M | $-86.3M | $-83.5M | $-67.3M | $-109.0M | $-139.3M | $-160.2M | |
| Shares Out. (M) | 4.89 | 4.95 | 5.79 | 7.40 | 10.82 | 10.98 | 15.48 | 19.02 | 19.40 | 27.91 | 85.66 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $269.7M | $165.4M | $140.4M | $193.3M | $196.4M | $77.3M | $209.2M | $141.4M | $32.5M | $194.2M | $229.2M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $286.2M | $188.2M | $166.4M | $204.6M | $207.4M | $114.4M | $223.1M | $158.9M | $44.4M | $212.9M | $246.7M | |
| Total Assets | $302.4M | $213.3M | $196.5M | $271.7M | $272.2M | $146.7M | $246.5M | $183.0M | $65.7M | $233.7M | $266.4M | |
| Total Current Liabilities | $30.5M | $43.1M | $49.8M | $54.0M | $52.7M | $31.4M | $29.5M | $37.3M | $31.1M | $58.0M | $51.8M | |
| Long-Term Debt | $4.3M | $2.2M | $1.5M | $810.0K | $543.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $47.0M | $57.4M | $57.7M | $78.5M | $66.8M | $47.4M | $52.1M | $42.8M | $38.3M | $64.9M | $58.5M | |
| Stockholders' Equity | $255.4M | $155.9M | $138.7M | $193.2M | $205.5M | $99.3M | $194.5M | $140.2M | $27.4M | $168.8M | $208.0M | |
| Retained Earnings | $-120.5M | $-177.2M | $-190.0M | $-799.0M | $-958.5M | $-258.5M | $-259.6M | $-238.9M | $-286.4M | $-393.1M | $-440.7M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-62.6M | $-137.1M | $-156.3M | $-148.3M | $-165.6M | $-108.2M | $-55.7M | $-79.7M | $-104.5M | $-121.2M | $-150.6M | |
| Capital Expenditure | $-8.6M | $-9.1M | $-5.4M | $-5.6M | $-2.8M | $-918.0K | $-754.0K | $-677.0K | $-2.3M | $-538.0K | $-896.0K | |
| Free Cash Flow | $-71.2M | $-146.2M | $-161.7M | $-153.9M | $-168.4M | $-109.2M | $-56.4M | $-80.3M | $-106.8M | $-121.7M | $-151.5M | |
| Investing Cash Flow | $-8.7M | $-9.4M | $-9.9M | $-5.7M | $-2.9M | $-433.0K | $-100.0K | $-808.0K | $-757.0K | $-1.4M | $-1.3M | |
| Financing Cash Flow | $1.8M | $343.0K | $149.5M | $207.6M | $149.5M | $274.0K | $194.1M | $6.8M | $587.0K | $276.2M | $365.1M | |
| Issuance of Stock | $2.1M | $1.0M | $152.3M | $208.9M | $150.4M | $978.0K | $194.6M | $6.9M | $634.0K | $276.2M | $365.3M | |
| Repurchase of Stock | $-57.0K | $-30.0K | $-548.0K | $0.00 | $-563.0K | $0.00 | $0.00 | $-154.0K | $-47.0K | $0.00 | $-200.0K | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-289.0K | $-693.0K | $-2.1M | $-4.7M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $36.1M | $36.9M | $29.6M | $17.2M | $-1.1M | $3.1M | $5.0M | $6.0M | $4.6M | $5.4M | $6.0M | |
| Net Change in Cash | $-70.4M | $-142.3M | $-17.3M | $52.7M | $3.1M | $-119.1M | $131.9M | $-67.8M | $-108.9M | $161.7M | $216.3M |
Dilution Tracker
Shares outstanding grew 679.9% over 5 years — significant dilution
Shares Outstanding
86M
5-Year Share Growth
+679.9%
Stock Issuance (TTM)
$365.3M
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 4.89 | 4.95 | 5.79 | 7.40 | 10.82 | 10.98 | 15.48 | 19.02 | 19.40 | 27.91 | 85.66 | |
| YoY Change % | — | 1.2% | 16.8% | 27.9% | 46.2% | 1.5% | 40.9% | 22.9% | 2.0% | 43.9% | 206.9% | |
| Stock Issuance | $2.1M | $1.0M | $152.3M | $208.9M | $150.4M | $978.0K | $194.6M | $6.9M | $634.0K | $276.2M | $365.3M | |
| Stock Repurchase | $-57.0K | $-30.0K | $-548.0K | $0.00 | $-563.0K | $0.00 | $0.00 | $-154.0K | $-47.0K | $0.00 | $-200.0K | |
| Stock Based Comp. | $36.1M | $36.9M | $29.6M | $17.2M | $-1.1M | $3.1M | $5.0M | $6.0M | $4.6M | $5.4M | $6.0M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | -39.7% | -86.2% | -129.0% | -103.6% | -80.0% | -64.2% | -65.6% | -43.5% | -136.0% | -149.8% | -161.4% | |
| ROA % | -35.5% | -68.7% | -92.7% | -73.5% | -58.7% | -46.7% | -49.0% | -33.9% | -91.6% | -98.2% | -104.1% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B4.69
Historical— / — / 4.69
Industry Med.2.93
EV/EBITDA-4.71
Historical-4.71 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$3.53
Net Current Assets
$3.180
Net-Net Working Capital
$2.89
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 6.78 | 7.89 | 2.79 | 5.21 | 1.40 | 1.77 | 1.48 | 1.31 | 2.31 | 5.35 | 4.69 | |
| EV/EBITDA | -12.27 | -6.36 | -1.22 | -5.11 | -0.90 | -1.44 | -1.30 | -0.88 | -0.39 | -5.36 | -4.71 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
3
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $7.62M | $184.04M | $486.83M |
| Net Income | $-149.70M | $11.37M | $263.91M |
| EPS | -1.97 | -0.86 | 1.26 |
| Book Value per Share | 1.37 | 0.61 | 1.97 |
| Operating Cash Flow per Share | -1.92 | -1.16 | 0.35 |
| Operating CF | $-164.52M | $-99.58M | $30.31M |