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EV-to-EBITDA is calculated as enterprise value divided by its EBITDA. As of today, Heron Therapeutics's enterprise value is €165.8 Mil.
Heron Therapeutics's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 was €-13.9 Mil. Therefore, Heron Therapeutics's EV-to-EBITDA for today is -11.93.
The historical rank and industry rank for Heron Therapeutics's EV-to-EBITDA or its related term are showing as below:
FRA:AXD2'
s EV-to-EBITDA Range Over the Past 10 Years
Min: -98.26 Med: -5.4 Max: 210.83
Current: -11.65
During the past 13 years, the highest EV-to-EBITDA of Heron Therapeutics was 210.83. The lowest was -98.26. And the median was -5.40.
FRA:AXD2's EV-to-EBITDA is ranked worse than 100% of 400
companies
in the Biotechnology industry
Industry Median: 11.905
vs FRA:AXD2: -11.65
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio to determine the fair market value of a company.
EV-to-EBITDA is a valuation multiple used in finance and investment to measure the value of a company. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Heron Therapeutics's PE Ratio (TTM) for today is calculated as:
Heron Therapeutics's share price for today is €0.4074.
Heron Therapeutics's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-0.154.
* 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.
Study has found that the companies with the lowest EV-to-EBITDA outperforms companies measured as cheap by other ratios such as PE Ratio (TTM).
The historical data trend for Heron Therapeutics's EV-to-EBITDA 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: EV-to-EBITDA Comparison
For the Biotechnology subindustry, Heron Therapeutics's EV-to-EBITDA, along with its competitors' market caps and EV-to-EBITDA 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 EV-to-EBITDA vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, Heron Therapeutics's EV-to-EBITDA distribution charts can be found below:
* The bar in red indicates where Heron Therapeutics's EV-to-EBITDA falls into.
Heron Therapeutics's current Enterprise Value is €165.8 Mil.
Heron Therapeutics's EBITDA for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-13.9 Mil.
* 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 EV-to-EBITDA of -11.93 as of Jul. 21, 2026. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Heron Therapeutics. According to the industry distribution chart, Heron Therapeutics ranks #999999 out of 400 companies in the Biotechnology industry.
Is Heron Therapeutics' EV-to-EBITDA too high?
Heron Therapeutics' current EV-to-EBITDA is -11.93. Based on the distribution chart, Heron Therapeutics ranks #999999 out of 400 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' EV-to-EBITDA compare to ENTX and OKYO?
According to the Biotechnology industry distribution chart, Heron Therapeutics ranks #999999 out of 400 companies for EV-to-EBITDA. This places Heron Therapeutics in the lower half of its industry. The industry median EV-to-EBITDA is 11.91. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBITDA for a Biotechnology company?
The median EV-to-EBITDA among Biotechnology companies is 11.91, based on 400 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBITDA significantly above this median, while those in the bottom quartile fall well below. However, EV-to-EBITDA should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-EBITDA mean?
A high EV-to-EBITDA can signal that a stock is expensive relative to its fundamentals. EV to EBITDA ratio is the company's enterprise value divided by earnings before interest, taxes, depreciation and amortization. View historical data on Heron Therapeutics. For the Biotechnology industry, the median EV-to-EBITDA is 11.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heron Therapeutics's current EV-to-EBITDA is -11.93. 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 €1.29, compared to a current price of €0.41 — trading 68.4% below its estimated fair value. The current EV-to-EBITDA is -11.93. 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 EV-to-EBITDA calculated?
EV-to-EBITDA is calculated from a company's financial statements. For Heron Therapeutics (FRA:AXD2), the current EV-to-EBITDA is -11.93 as of Jul. 21, 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 68.4% below its estimated GF Value™ of €1.29.
GuruFocus considers Heron Therapeutics to be Possible Value Trap.
Key valuation signals for FRA:AXD2:
EV-to-EBITDA: -11.93
GF Value™: €1.29 vs. price of €0.41 (68.4% below fair value)
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
EV-to-EBITDA is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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