ETONEton Pharmaceuticals, Inc.
Is it safe?
Mostly sound, with a caveat: comfortable debt (AA), but big price swings.
Rock-solid balance sheet, low leverage. A rule of thumb on leverage, not a credit rating.
Large price swings, high volatility. Worst drawdown -80% · now 15% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can ETON take a bad year?
Eton Pharmaceuticals, Inc. carries $1.1M of net debt at 0.05× EBITDA: a load its earnings can carry.
Net debt · as at Q2 2026 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 0.05×
Net debt / EBITDA · 3.04× a year ago · the load is coming down
- Debt / equity
- 0.60×
Debt / equity
- Annualised volatility
- 67%
Annualised volatility · three times the market's own swing
Details›
- Total debtQ2 2026
- $28M
- Cash and short-term investments
- $27M
- Net debt
- $1.1M
- EBITDA, trailing twelve months
- $21M
- Operating profit, trailing twelve months
- $16M
- Debt / equity
- 0.60×
- Total debt / EBITDA
- 1.34×
- Annualised volatilitytwo years of daily moves
- 67%
- Worst drawdown on file
- −80%
- Below its 52-week high
- 15%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.
Drug Manufacturers, Specialty & Generic
Ranks #34 of 41 by RyuScore