Think of Enterprise Value as the theoretical takeover price. It is more comprehensive than market capitalization (Market Cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, First Tracks Biotherapeutics's Enterprise Value is $978.05 Mil.
First Tracks Biotherapeutics does not have enough years/quarters to calculate its EBIT for the trailing twelve months (TTM) ended in Dec. 2024. Therefore, GuruFocus does not calculate First Tracks Biotherapeutics's EV-to-EBIT at this moment.
EV-to-EBITDA is calculated as Enterprise Value divided by its EBITDA. As of today, First Tracks Biotherapeutics's Enterprise Value is $978.05 Mil.
First Tracks Biotherapeutics does not have enough years/quarters to calculate its EBITDA for the trailing twelve months (TTM) ended in Dec. 2024. Therefore, GuruFocus does not calculate First Tracks Biotherapeutics's EV-to-EBITDA at this moment.
EV-to-Revenue is calculated as Enterprise Value divided by its Revenue. As of today, First Tracks Biotherapeutics's Enterprise Value is $978.05 Mil.
First Tracks Biotherapeutics does not have enough years/quarters to calculate its Revenue for the trailing twelve months (TTM) ended in Dec. 2024. Therefore, GuruFocus does not calculate First Tracks Biotherapeutics's EV-to-Revenue at this moment.
*** Please note that the current Enterprise Value is calculated using the current market capitalization and the most recently available financial data. If key financial fields—Long-Term Debt & Capital Lease Obligation and Short-Term Debt & Capital Lease Obligation—are recorded as null in the latest reporting period, our data vendor will default to using data from the prior period with valid entries.
First Tracks Biotherapeutics (NAS:TRAX) Enterprise Value Explanation
When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. He also assumes the debt of the company, and receives the cash on the company's balance sheet.
If a company has more cash than debt, the investor actually pays less than the Market Cap because he immediately owns the cash once the transaction goes through.
The market value of Preferred Stock needs to be added to the market value of common stocks in the calculation of Enterprise Value.
For the companies with the same Market Cap, the smaller the Enterprise Value is, the cheaper the company is.
Enterprise Value can be negative when the company's net cash is more than its Market Cap. In this case the investor is basically getting the company for free and get paid for that.
First Tracks Biotherapeutics Enterprise Value Related Terms
First Tracks Biotherapeutics Enterprise Value Historical Data
* 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.
First Tracks Biotherapeutics Enterprise Value Chart
First Tracks Biotherapeutics Annual Data
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First Tracks Biotherapeutics Semi-Annual Data
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TRAX vs ALT, RGNX, MDXG: Enterprise Value Comparison
For the Biotechnology subindustry, First Tracks Biotherapeutics's Enterprise Value, along with its competitors' market caps and Enterprise Value 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.
First Tracks Biotherapeutics Enterprise Value vs Biotechnology Industry
For the Biotechnology industry and Healthcare sector, First Tracks Biotherapeutics's Enterprise Value distribution charts can be found below:
* The bar in red indicates where First Tracks Biotherapeutics's Enterprise Value falls into.
First Tracks Biotherapeutics Enterprise Value Calculation
Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash, cash equivalents, and marketable securities.
* 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.
First Tracks Biotherapeutics (TRAX) has a Enterprise Value of $978.05 Mil as of Jul. 13, 2026. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on First Tracks Biotherapeutics and its competitors.
Is First Tracks Biotherapeutics' Enterprise Value too high?
First Tracks Biotherapeutics' current Enterprise Value is $978.05 Mil. Overall, First Tracks Biotherapeutics has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does First Tracks Biotherapeutics' Enterprise Value compare to ALT and RGNX?
First Tracks Biotherapeutics' Enterprise Value of $978.05 Mil can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Enterprise Value for a Biotechnology company?
A good Enterprise Value depends on the Biotechnology industry context. However, Enterprise Value 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 Enterprise Value mean?
A high Enterprise Value can signal that a stock is expensive relative to its fundamentals. Enterprise value equals the sum of market cap, debt and preferred shares less cash and equivalents. View historical data on First Tracks Biotherapeutics and its competitors. First Tracks Biotherapeutics's current Enterprise Value is $978.05 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Tracks Biotherapeutics stock overvalued right now?
First Tracks Biotherapeutics (TRAX) has a current Enterprise Value of $978.05 Mil. The current Enterprise Value is $978.05 Mil. First Tracks Biotherapeutics' overall GF Score™ is 12/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Enterprise Value calculated?
Enterprise Value is calculated from a company's financial statements. For First Tracks Biotherapeutics (TRAX), the current Enterprise Value is $978.05 Mil as of Jul. 13, 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.
Address10770 Wateridge Circle, Suite 210, San Diego, CA, USA, 92121
First Tracks Biotherapeutics Inc is a clinical-stage biotechnology company focused on delivering immunology therapeutics for autoimmune and inflammatory diseases. Its clinical-stage pipeline includes rosnilimab, a selective pathogenic T cell depleter, for which it completed a Phase 2b trial for the treatment of moderate-to-severe rheumatoid arthritis (RA), ANB033, a CD122 antagonist, in a Phase 1b trial for celiac disease (CeD) and eosinophilic esophagitis (EoE), and ANB101, a BDCA2 modulator, in a Phase 1a trial. The company operates in one reportable segment focused on research and development activities to deliver immunology therapeutics for autoimmune and inflammatory diseases.
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