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Stocks · Health care · Pharmaceutical Preparations

Eton Pharmaceuticals, Inc.

ETON Clue Score49
United States Fiscal year ends December CIK 0001710340
$55.21 +0.84% Close, 9 Oct 2026
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Price $55.21 +1,008.63% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 13 Nov 2018. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Operating income−10.3Net income−12.7Fiscal year 2019Revenue1.0Operating income−18.6Net income−18.3Fiscal year 2020Revenue0.0 −95.9%Operating income−27.1Net income−28.0Fiscal year 2021Revenue21.8 +55,879.5%Operating income−1.5Net income−2.0Fiscal year 2022Revenue21.3 −2.7%Operating income−8.3Net income−9.0Fiscal year 2023Revenue31.6 +48.9%Operating income−1.2Net income−0.9Fiscal year 2024Revenue39.0 +23.3%Operating income−2.6Net income−3.8Fiscal year 2025Revenue80.0 +104.9%Operating income−0.8Net income−4.6
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue n/a 1.0 0.0 21.8 21.3 31.6 39.0 80.0
Growth −95.9% +55,879.5% −2.7% +48.9% +23.3% +104.9%
Operating income −10.3 −18.6 −27.1 −1.5 −8.3 −1.2 −2.6 −0.8
Net income −12.7 −18.3 −28.0 −2.0 −9.0 −0.9 −3.8 −4.6
Growth

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Fiscal year 2019Gross margin52.8%Operating margin−1,939.6%Net margin−1,910.3%Free cash flow margin−1,994.0%Fiscal year 2020Gross margin−1,017.9%Operating margin−69,515.4%Net margin−71,717.9%Free cash flow margin−57,425.6%Fiscal year 2021Gross margin87.1%Operating margin−6.8%Net margin−9.0%Free cash flow margin−21.7%Fiscal year 2022Gross margin67.4%Operating margin−38.9%Net margin−42.4%Free cash flow margin22.5%Fiscal year 2023Gross margin66.6%Operating margin−3.8%Net margin−3.0%Free cash flow margin21.5%Fiscal year 2024Gross margin60.0%Operating margin−6.7%Net margin−9.8%Free cash flow margin2.4%Fiscal year 2025Gross margin53.5%Operating margin−1.1%Net margin−5.8%Free cash flow margin12.7%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin n/a 52.8% −1,017.9% 87.1% 67.4% 66.6% 60.0% 53.5%
Operating margin n/a −1,939.6% −69,515.4% −6.8% −38.9% −3.8% −6.7% −1.1%
Net margin n/a −1,910.3% −71,717.9% −9.0% −42.4% −3.0% −9.8% −5.8%
Free cash flow margin n/a −1,994.0% −57,425.6% −21.7% 22.5% 21.5% 2.4% 12.7%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow−8.1Capital expenditure−0.2Free cash flow−8.4Fiscal year 2019Operating cash flow−18.0Capital expenditure−1.1Free cash flow−19.1Fiscal year 2020Operating cash flow−22.3Capital expenditure−0.1Free cash flow−22.4Fiscal year 2021Operating cash flow−4.7Capital expenditure−0.0Free cash flow−4.7Fiscal year 2022Operating cash flow4.8Capital expenditure−0.0Free cash flow4.8Fiscal year 2023Operating cash flow6.8Capital expenditure0.0Free cash flow6.8 +42.5%Fiscal year 2024Operating cash flow1.0Capital expenditure−0.0Free cash flow0.9 −86.2%Fiscal year 2025Operating cash flow10.5Capital expenditure−0.3Free cash flow10.2 +980.7%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −8.1 −18.0 −22.3 −4.7 4.8 6.8 1.0 10.5
Capital expenditure −0.2 −1.1 −0.1 −0.0 −0.0 0.0 −0.0 −0.3
Free cash flow −8.4 −19.1 −22.4 −4.7 4.8 6.8 0.9 10.2
Growth +42.5% −86.2% +980.7%

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash26.7Shareholders’ equity26.3Fiscal year 2019Cash12.1Total debt4.5Net cash (debt)7.5Shareholders’ equity10.6Debt to equity0.43Fiscal year 2020Cash21.3Total debt6.5Net cash (debt)14.8Shareholders’ equity17.6Debt to equity0.37Fiscal year 2021Cash14.4Total debt6.7Net cash (debt)7.7Shareholders’ equity17.6Debt to equity0.38Fiscal year 2022Cash16.3Total debt6.4Net cash (debt)9.9Shareholders’ equity13.1Debt to equity0.49Fiscal year 2023Cash21.4Total debt5.4Net cash (debt)16.0Shareholders’ equity15.5Debt to equity0.35Fiscal year 2024Cash14.9Total debt29.8Net cash (debt)−14.9Shareholders’ equity24.4Debt to equity1.22Fiscal year 2025Cash25.9Total debt30.6Net cash (debt)−4.6Shareholders’ equity26.2Debt to equity1.17
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 26.7 12.1 21.3 14.4 16.3 21.4 14.9 25.9
Total debt n/a 4.5 6.5 6.7 6.4 5.4 29.8 30.6
Net cash (debt) n/a 7.5 14.8 7.7 9.9 16.0 −14.9 −4.6
Shareholders’ equity 26.3 10.6 17.6 17.6 13.1 15.5 24.4 26.2
Debt to equity n/a 0.43 0.37 0.38 0.49 0.35 1.22 1.17

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
−8.1 −18.0 −22.3 −4.7 4.8 6.8 1.0 10.5
Growth +41.4% −85.8% +986.1%
n/a 0.3 0.3 0.2 0.1 n/a n/a n/a
Investment
−0.2 −1.1 −0.1 −0.0 −0.0 0.0 −0.0 −0.3
calc −8.4 −19.1 −22.4 −4.7 4.8 6.8 0.9 10.2
Growth +42.5% −86.2% +980.7%
−0.2 −1.8 −0.1 −2.6 −2.8 −0.8 −40.0 −0.3
Financing
22.0 5.2 31.6 0.4 −0.1 −1.0 32.6 0.8

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.