SPRY (ARS Pharmaceuticals) ROE % Adjusted to Book Value: -21.23% (As of Mar. 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
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.

SPRY ARS Pharmaceuticals Inc SPRY
28 GF Score
Price $6.06
! 5 Warning Signs
View Full Analysis

What is ARS Pharmaceuticals ROE % Adjusted to Book Value?

ARS Pharmaceuticals SPRY +1.51% 28 ROE % Adjusted to Book Value is -21.23% as of Mar. 2026. GuruFocus rates SPRY with a GF Score™ of 28/100. The stock has 5 warning signs investors should review.

ARS Pharmaceuticals's ROE % for the quarter that ended in Mar. 2026 was -276.22%. ARS Pharmaceuticals's PB Ratio for the quarter that ended in Mar. 2026 was 13.01. ARS Pharmaceuticals's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 was -21.23%.


ARS Pharmaceuticals ROE % Adjusted to Book Value Related Terms


ARS Pharmaceuticals ROE % Adjusted to Book Value Historical Data

* Premium members only.

The historical data trend for ARS Pharmaceuticals's ROE % Adjusted to Book Value 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.

ARS Pharmaceuticals ROE % Adjusted to Book Value Chart

ARS Pharmaceuticals Annual Data
Trend Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
ROE % Adjusted to Book Value
Get a 7-Day Free Trial 0.00 -9.77 -9.43 0.82 -9.12

ARS Pharmaceuticals Quarterly Data
Dec20 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
ROE % Adjusted to Book Value Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -10.37 -9.52 -17.88 -12.47 -21.23

SPRY vs ALLO, CBIO, IMMX: ROE % Adjusted to Book Value Comparison

For the Biotechnology subindustry, ARS Pharmaceuticals's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book 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.


ARS Pharmaceuticals ROE % Adjusted to Book Value vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, ARS Pharmaceuticals's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where ARS Pharmaceuticals's ROE % Adjusted to Book Value falls into.


SPRY
28GF Score
ARS Pharmaceuticals Inc SPRY
ROE % Adjusted to Book Value is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

ARS Pharmaceuticals ROE % Adjusted to Book Value Calculation

ARS Pharmaceuticals's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=-92.33% / 10.12
=-9.12%

ARS Pharmaceuticals's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 is calculated as

ROE % Adjusted to Book Value=ROE % / PB Ratio
=-276.22% / 13.01
=-21.23%

* 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.

What does a ROE % Adjusted to Book Value of -21.23% mean?
ARS Pharmaceuticals (SPRY) has a ROE % Adjusted to Book Value of -21.23% as of Mar. 2026. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on ARS Pharmaceuticals and its competitors.
Is ARS Pharmaceuticals' ROE % Adjusted to Book Value too high?
ARS Pharmaceuticals' current ROE % Adjusted to Book Value is -21.23%. Overall, ARS Pharmaceuticals has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does ARS Pharmaceuticals' ROE % Adjusted to Book Value compare to ALLO and CBIO?
ARS Pharmaceuticals' ROE % Adjusted to Book Value of -21.23% 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 ROE % Adjusted to Book Value for a Biotechnology company?
A good ROE % Adjusted to Book Value depends on the Biotechnology industry context. However, ROE % Adjusted to Book 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 ROE % Adjusted to Book Value mean?
A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on ARS Pharmaceuticals and its competitors. ARS Pharmaceuticals's current ROE % Adjusted to Book Value is -21.23%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ARS Pharmaceuticals stock overvalued right now?
ARS Pharmaceuticals (SPRY) has a current ROE % Adjusted to Book Value of -21.23%. The current ROE % Adjusted to Book Value is -21.23%. ARS Pharmaceuticals' overall GF Score™ is 28/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % Adjusted to Book Value calculated?
ROE % Adjusted to Book Value is calculated from a company's financial statements. For ARS Pharmaceuticals (SPRY), the current ROE % Adjusted to Book Value is -21.23% 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.

ARS Pharmaceuticals Business Description

Address 11682 El Camino Real, Suite 300, San Diego, CA, USA, 92130
ARS Pharmaceuticals Inc is a biopharmaceutical company focused on the commercialization and development of neffy (currently identified in the European Union (EU) and United Kingdom (U.K.) by the trade name EURneffy and in China) for needle-free intranasal delivery of epinephrine for emergency treatment of Type I allergic reactions, including anaphylaxis. Neffy is a proprietary composition of epinephrine with an absorption enhancer called Intravail, which allows Neffy to safely provide intranasal delivery of epinephrine at a low dose within the exposures of approved injectable products across a range of dosing conditions.
28GF Score

Get the complete analysis for SPRY

ROE % Adjusted to Book Value is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$6.06
Price