OCULNasdaqPharmaceutical PreparationsFiscal year ends December 31
OCULAR THERAPEUTIX, INC
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 3, 2026
$6.29−0.58 (-8.44%)
Close on Oct 19, 2026
- Market cap
- $1.41B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
87.3%−0.7 pts over 5 years
Operating margin
-519.8%−158.6 pts over 5 years
Net margin
-511.9%+382.4 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | -18.5% | +0.3% | +24.4% | +40.4% | |
| Gross profit | -21.9% | -1.1% | +24.3% | +41.3% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -63.1% | -429.5% | -54.9% | |
| Return on assets | -48.3% | -91.4% | -42.0% | |
| Current ratio | 8.42 | 9.23 | 15.39 | |
| Debt to equity | 0.27 | 0.22 | 0.11 | |
| Net debt to EBITDA | 0.48× | 3.54× | 2.51× | |
| Interest coverage | -25.8× | -9.3× | -22.8× | |
| Inventory turnover | 3.6× | 1.9× | 2.0× | |
| Capex to revenue | 101.7% | 4.8% | 23.1% | |
| Diluted shares | 25M | 61M | 187M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ocular Therapeutix generated $534.95M from operations and spent $24.29M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$534.95M
Used
$24.29M
Capital expenditure$24.29M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-511.9%
×Asset turnover0.08×
×Equity multiplier1.31×
=Return on equity, FY2025-54.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -511.9% | 0.08× | 1.31× | -54.9% |
| FY2024 | -303.7% | 0.18× | 1.75× | -95.2% |
| FY2023 | -138.1% | 0.29× | 3.17× | -127.6% |
| FY2022 | -138.0% | 0.29× | 2.87× | -115.2% |
| FY2021 | -15.1% | 0.19× | 2.84× | -8.0% |
| FY2020 | -894.3% | 0.10× | 4.70× | -429.5% |
| FY2019 | -2043.3% | 0.06× | 4.71× | -535.7% |
| FY2018 | -3014.0% | 0.03× | 2.07× | -193.4% |
| FY2017 | -3296.2% | 0.03× | 1.67× | -162.2% |
| FY2016 | -2369.0% | 0.02× | 1.31× | -63.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$265.94M
- Cash generatingOperating cash flow above zero-$204.88M
- Return on assets improvedROA up on the prior year-76.8% → -58.1%
- Earnings backed by cashOperating cash flow above net income-$204.88M vs -$265.94M
- Less leverageLong-term debt to assets fell15.0% → 8.8%
- Better liquidityCurrent ratio rose10.66 → 15.39
- No dilutionShare count did not rise158M → 187M
- Gross margin improvedGross margin up on the prior year91.17% → 87.35%
- More efficientAsset turnover rose0.25 → 0.11