# Cipher Pharmaceuticals Inc. (CPH.TO) fundamentals

Data as of 2026-09-08. TSX, Canada. Sector: Healthcare / Pharmaceuticals. Price C$14.34, market value C$364 million.

## Valuation
- **P/E (trailing): 9.3×** (5-yr avg 12.3×, 3-yr avg 17.2×). Cipher Pharmaceuticals Inc. trades at 9.3× trailing earnings, well below its own five-year average of 12.3×: cheap by its own standards. The Healthcare median in the September 2026 study was 28.5×.
- **Price / sales: 5.3×**. Each dollar of revenue is priced at 5.3×.
- **Price / book: 1.9×**. The shares trade at 1.9× book value; book value is a meaningful part of the valuation.
- **EV / EBITDA: 10.6×**. Enterprise value is 10.6× operating earnings before depreciation, the multiple that ignores how the company is financed.
- **Free-cash-flow yield: 10.1%** (5-yr avg 12.9%). Free cash flow equals 10.1% of the market value, below its five-year average of 12.9%, so the shares are pricier on cash than usual. Above 5% is generally attractive.
- **Earnings yield: 10.8%**. The inverse of the P/E: 10.8% of the price is earned each year.

## Profitability
- **Gross margin: 74.1%**. Cipher Pharmaceuticals Inc. keeps 74.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: 39.3%**. 39.3% of revenue is left after running the business, an exceptional level.
- **Net margin: 54.2%**. 54.2% of each dollar of sales reaches the bottom line.
- **Return on equity: 22.1%**. 22.1% on shareholders' equity is excellent if it is not driven by leverage; sustained above 20% usually signals a competitive advantage.
- **Return on invested capital: 15.7%**. Return on all capital, debt included, is 15.7%: comfortably above what that capital costs.
- **Return on assets: 18.6%**. Each dollar of assets produces 18.6% of profit.

## Growth
- **Revenue growth (1 yr): 53.9%** (3-yr 35.4%/yr, 5-yr 18.9%/yr). Revenue grew 53.9% over the last year, against 18.9% a year compounded over five years: growth is accelerating.
- **EPS growth (1 yr): 127.7%** (3-yr 1.0%/yr, 5-yr 44.5%/yr). Earnings per share rose 127.7%, faster than revenue, so margins expanded or the share count shrank.
- **Free-cash-flow growth (3 yr): 42.3%/yr**. Free cash flow has compounded at 42.3% a year over three years, keeping pace with earnings: the growth is real cash.

## Financial health
- **Debt to equity: 0.04**. Debt is 0.04 times equity: a conservative balance sheet.
- **Net debt / EBITDA: net cash**. Cipher Pharmaceuticals Inc. holds more cash than debt.
- **Current ratio: 1.12** (quick 0.79). Current assets cover the next year's liabilities 1.12 times.
- **Altman Z-score: 9.08**. A Z-score of 9.08 places the company in the safe zone for bankruptcy risk.
- **Piotroski F-score: 6/9**. 6 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Cipher Pharmaceuticals Inc. does not currently pay a dividend.

## Analyst view
- **Analyst consensus: buy** (4 analysts). 4 analysts cover Cipher Pharmaceuticals Inc.; the consensus is buy, with an average price target of C$19.95 (+39% from the current price). Analyst opinion is shown for context; it is not part of the Fundamental Score.

## Price and momentum
- **Total return (1 yr): -9.4%** (YTD -4.8%, 3-mo -14.8%). The shares are down 9.4% over twelve months including dividends.
- **From 52-week high: -30.3%** (14.9% above the low). Trading 30% below its 52-week high, deep in a drawdown.
- **200-day average: below**. The price sits below its 200-day moving average, the usual definition of a downtrend.
- **RSI (14-day): 41**. An RSI of 41 is neutral.
- **Beta (1 yr): 0.11** (volatility 43%). Beta of 0.11 against the S&P/TSX Composite: the shares move much less than the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=CPH.TO · Page: https://foliofundamentals.com/stocks/cph.to

Not investment advice.