Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Heron TherapeuticsFRA:AXD2 +7.41%47 Cash Ratio is 0.49 as of Mar. 2026, which is 68% below its 10-year median of 1.52. GuruFocus rates FRA:AXD2 with a GF Score™ of 47/100 and a GF Value™ of €1.34 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,385 Biotechnology companies, Heron Therapeutics ranks worse than 83.97% on this metric.
Heron Therapeutics has a Cash Ratio of 0.49. It indicates that there are more current liabilities than Cash, Cash Equivalents, Marketable Securities, and the company does not have sufficient cash on hand to pay off its short-term debt.
The historical rank and industry rank for Heron Therapeutics's Cash Ratio or its related term are showing as below:
FRA:AXD2'
s Cash Ratio Range Over the Past 10 Years
Min: 0.16 Med: 1.52 Max: 5.69
Current: 0.49
During the past 13 years, Heron Therapeutics's highest Cash Ratio was 5.69. The lowest was 0.16. And the median was 1.52.
FRA:AXD2's Cash Ratio is ranked worse than 83.97% of 1385
companies
in the Biotechnology industry
Industry Median: 2.95
vs FRA:AXD2: 0.49
Heron Therapeutics (FRA:AXD2) Cash Ratio Explanation
The cash ratio is more conservative than other liquidity ratios, such as Quick Ratio and Current Ratio, because it only considers a company's most liquid resources. The numerator of cash ratio only considers Cash, Cash Equivalents and marketable securities. Other current assets, such as accounts receivable and inventories, are not included. The rationale is that these assets may require time to be transformed into cash, and the amount of money received is also uncertain.
The cash ratio shows a company’s ability to pay all current liabilities immediately without selling or liquidating other assets. Generally speaking, a higher cash ratio suggests the company has a stronger ability to cover its short-term debt. However, a high cash ratio could also indicate inefficient management: the company is inefficient in making full utilization of cash to invest protential profitable project. It may also suggest that the company is not confident about future profitability.
In general, the higher the cash ratio, the better the company's liquidity position.
Heron Therapeutics Cash Ratio Related Terms
Heron Therapeutics Cash Ratio Historical Data
* Premium members only.
The historical data trend for Heron Therapeutics's Cash Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
FRA:AXD2 vs ENTX, OKYO, EDSA: Cash Ratio Comparison
For the Biotechnology subindustry, Heron Therapeutics's Cash Ratio, along with its competitors' market caps and Cash Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Heron Therapeutics Cash Ratio vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Heron Therapeutics's Cash Ratio distribution charts can be found below:
* The bar in red indicates where Heron Therapeutics's Cash Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Heron Therapeutics (FRA:AXD2) has a Cash Ratio of 0.49 as of Mar. 2026. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Heron Therapeutics and its competitors. This is 68% below median its historical median of 1.52. Over the past decade, Heron Therapeutics' Cash Ratio has ranged from 0.16 to 5.69. According to the industry distribution chart, Heron Therapeutics ranks #1163 out of 1385 companies in the Biotechnology industry, placing it in the top 84%.
Is Heron Therapeutics' Cash Ratio too high?
Heron Therapeutics' current Cash Ratio of 0.49 is 68% below median its 10-year median of 1.52. Over the past 10 years, this metric has ranged from a low of 0.16 to a high of 5.69. The Biotechnology industry median Cash Ratio is 2.95. Heron Therapeutics' value of 0.49 is 83.4% below this industry median. Based on the distribution chart, Heron Therapeutics ranks #1163 out of 1385 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Heron Therapeutics has a GF Score™ of 47/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Heron Therapeutics' Cash Ratio compare to ENTX and OKYO?
According to the Biotechnology industry distribution chart, Heron Therapeutics ranks #1163 out of 1385 companies for Cash Ratio. This places Heron Therapeutics in the lower half of its industry. The industry median Cash Ratio is 2.95. Heron Therapeutics' value of 0.49 is 83.4% below this benchmark. Historically, Heron Therapeutics' own Cash Ratio has ranged from 0.16 to 5.69 over the past decade. While the company's 10-year median is 1.52 vs. the industry median of 2.95, Heron Therapeutics has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cash Ratio for a Biotechnology company?
The median Cash Ratio among Biotechnology companies is 2.95, based on 1,385 companies in the industry. Companies in the top quartile (top 25%) have a Cash Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cash Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Heron Therapeutics's current Cash Ratio of 0.49 is 83.4% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cash Ratio mean?
A high Cash Ratio can signal that a stock is expensive relative to its fundamentals. Cashflow ratio is the ratio of Cash, Cash Equivalents, Marketable Securities to current liabilities. View historical data on Heron Therapeutics and its competitors. For the Biotechnology industry, the median Cash Ratio is 2.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heron Therapeutics's current Cash Ratio is 0.49, which is 68% below median its own 10-year median of 1.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heron Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, Heron Therapeutics (FRA:AXD2) is currently considered Possible Value Trap. The stock's GF Value™ is €1.34, compared to a current price of €0.41 — trading 69.3% below its estimated fair value. The current Cash Ratio is 0.49, which is 68% below median its 10-year median of 1.52 and 83.4% below the Biotechnology industry median of 2.95. Heron Therapeutics' overall GF Score™ is 47/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cash Ratio calculated?
Cash Ratio is calculated from a company's financial statements. For Heron Therapeutics (FRA:AXD2), the current Cash Ratio is 0.49 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Heron Therapeutics (FRA:AXD2) Overvalued in 2026?
Based on GuruFocus' analysis, Heron Therapeutics stock appears to be undervalued.
The current stock price of €0.41 is trading 69.3% below its estimated GF Value™ of €1.34.
GuruFocus considers Heron Therapeutics to be Possible Value Trap.
Key valuation signals for FRA:AXD2:
Cash Ratio: 0.49 (68% below median its 10-year median of 1.52)
GF Value™: €1.34 vs. price of €0.41 (69.3% below fair value)
Industry Position: 83.4% below the Biotechnology median (#1163 of 1385)
No single metric tells the full story. See the FRA:AXD2 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heron Therapeutics Inc is a commercial-stage biotechnology company. The company is focused on improving the lives of patients by developing treatments and commercializing therapeutic solutions to address some of the unmet patient needs. The company's product portfolio consists of APONVIE, SUSTOL, ZYNRELEF, and CINVANTI.
47GF Score
Get the complete analysis for FRA:AXD2
Cash Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:AXD2 has been successfully added to your 
