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ARS PHARMACEUTICALS INC (SPRY) Stock Fundamental Analysis

NASDAQ:SPRY - US82835W1080 - Common Stock

11.12 USD
-0.5 (-4.3%)
Last: 9/2/2025, 4:41:16 PM
11.2188 USD
+0.1 (+0.89%)
After Hours: 9/2/2025, 4:41:16 PM
Fundamental Rating

4

Overall SPRY gets a fundamental rating of 4 out of 10. We evaluated SPRY against 542 industry peers in the Biotechnology industry. While SPRY has a great health rating, there are worries on its profitability. SPRY is quite expensive at the moment. It does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

SPRY had negative earnings in the past year.
In the past year SPRY has reported a negative cash flow from operations.
SPRY had negative earnings in 4 of the past 5 years.
In the past 5 years SPRY reported 4 times negative operating cash flow.
SPRY Yearly Net Income VS EBIT VS OCF VS FCFSPRY Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 -20M -40M -60M -80M

1.2 Ratios

The Return On Assets of SPRY (-15.32%) is better than 81.18% of its industry peers.
SPRY's Return On Equity of -24.97% is amongst the best of the industry. SPRY outperforms 81.00% of its industry peers.
Industry RankSector Rank
ROA -15.32%
ROE -24.97%
ROIC N/A
ROA(3y)-11.12%
ROA(5y)-13.71%
ROE(3y)-11.05%
ROE(5y)-14.05%
ROIC(3y)N/A
ROIC(5y)N/A
SPRY Yearly ROA, ROE, ROICSPRY Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 0 200 -200 400

1.3 Margins

SPRY has a Gross Margin of 93.72%. This is amongst the best in the industry. SPRY outperforms 93.54% of its industry peers.
The Profit Margin and Operating Margin are not available for SPRY so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 93.72%
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
SPRY Yearly Profit, Operating, Gross MarginsSPRY Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 0 -50K -100K -150K -200K

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8

2. Health

2.1 Basic Checks

SPRY does not have a ROIC to compare to the WACC, probably because it is not profitable.
SPRY has more shares outstanding than it did 1 year ago.
The number of shares outstanding for SPRY has been increased compared to 5 years ago.
There is no outstanding debt for SPRY. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
SPRY Yearly Shares OutstandingSPRY Yearly Shares OutstandingYearly Shares Outstanding 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
SPRY Yearly Total Debt VS Total AssetsSPRY Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

SPRY has an Altman-Z score of 5.42. This indicates that SPRY is financially healthy and has little risk of bankruptcy at the moment.
SPRY's Altman-Z score of 5.42 is fine compared to the rest of the industry. SPRY outperforms 77.31% of its industry peers.
SPRY has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Altman-Z 5.42
ROIC/WACCN/A
WACC9.86%
SPRY Yearly LT Debt VS Equity VS FCFSPRY Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 100M 200M 300M

2.3 Liquidity

A Current Ratio of 6.17 indicates that SPRY has no problem at all paying its short term obligations.
Looking at the Current ratio, with a value of 6.17, SPRY is in the better half of the industry, outperforming 64.21% of the companies in the same industry.
SPRY has a Quick Ratio of 5.98. This indicates that SPRY is financially healthy and has no problem in meeting its short term obligations.
The Quick ratio of SPRY (5.98) is better than 63.28% of its industry peers.
Industry RankSector Rank
Current Ratio 6.17
Quick Ratio 5.98
SPRY Yearly Current Assets VS Current LiabilitesSPRY Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

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4

3. Growth

3.1 Past

SPRY shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -10.64%.
The Revenue has grown by 22367.80% in the past year. This is a very strong growth!
EPS 1Y (TTM)-10.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-253.85%
Revenue 1Y (TTM)22367.8%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3043.4%

3.2 Future

SPRY is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 79.36% yearly.
The Revenue is expected to grow by 108.75% on average over the next years. This is a very strong growth
EPS Next Y-3176.32%
EPS Next 2Y-287.49%
EPS Next 3Y108.14%
EPS Next 5Y79.36%
Revenue Next Year354.94%
Revenue Next 2Y258.43%
Revenue Next 3Y178.23%
Revenue Next 5Y108.75%

3.3 Evolution

SPRY Yearly Revenue VS EstimatesSPRY Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 200M 400M 600M 800M 1B
SPRY Yearly EPS VS EstimatesSPRY Yearly EPS VS EstimatesYearly EPS VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 0 1 -1 2 -2 3

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1

4. Valuation

4.1 Price/Earnings Ratio

SPRY reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year SPRY is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
SPRY Price Earnings VS Forward Price EarningsSPRY Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20 40 60

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
SPRY Per share dataSPRY EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 0.5 -0.5 1 1.5

4.3 Compensation for Growth

SPRY's earnings are expected to grow with 108.14% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-287.49%
EPS Next 3Y108.14%

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0

5. Dividend

5.1 Amount

SPRY does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ARS PHARMACEUTICALS INC

NASDAQ:SPRY (9/2/2025, 4:41:16 PM)

After market: 11.2188 +0.1 (+0.89%)

11.12

-0.5 (-4.3%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)08-13 2025-08-13/bmo
Earnings (Next)11-11 2025-11-11/bmo
Inst Owners71.08%
Inst Owner ChangeN/A
Ins Owners12.07%
Ins Owner Change0%
Market Cap1.10B
Analysts88.33
Price Target32.64 (193.53%)
Short Float %24.08%
Short Ratio9.83
Dividend
Industry RankSector Rank
Dividend Yield N/A
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)2.53%
Min EPS beat(2)1.02%
Max EPS beat(2)4.05%
EPS beat(4)3
Avg EPS beat(4)103.82%
Min EPS beat(4)-32.93%
Max EPS beat(4)443.14%
EPS beat(8)6
Avg EPS beat(8)59.14%
EPS beat(12)8
Avg EPS beat(12)93.38%
EPS beat(16)10
Avg EPS beat(16)68.3%
Revenue beat(2)2
Avg Revenue beat(2)8.17%
Min Revenue beat(2)4.48%
Max Revenue beat(2)11.85%
Revenue beat(4)4
Avg Revenue beat(4)176.39%
Min Revenue beat(4)4.48%
Max Revenue beat(4)436.64%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)1.27%
EPS NQ rev (1m)-16.08%
EPS NQ rev (3m)-1480%
EPS NY rev (1m)-2.47%
EPS NY rev (3m)-7.33%
Revenue NQ rev (1m)-3.11%
Revenue NQ rev (3m)-34.9%
Revenue NY rev (1m)5.71%
Revenue NY rev (3m)-5.22%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 9.78
P/FCF N/A
P/OCF N/A
P/B 5.71
P/tB 6.13
EV/EBITDA N/A
EPS(TTM)-0.52
EYN/A
EPS(NY)-0.65
Fwd EYN/A
FCF(TTM)-0.54
FCFYN/A
OCF(TTM)-0.53
OCFYN/A
SpS1.14
BVpS1.95
TBVpS1.81
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -15.32%
ROE -24.97%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 93.72%
FCFM N/A
ROA(3y)-11.12%
ROA(5y)-13.71%
ROE(3y)-11.05%
ROE(5y)-14.05%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3YN/A
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.36
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 95.89%
Cap/Sales 0.52%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 6.17
Quick Ratio 5.98
Altman-Z 5.42
F-Score4
WACC9.86%
ROIC/WACCN/A
Cap/Depr(3y)338.3%
Cap/Depr(5y)266.86%
Cap/Sales(3y)199.71%
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-10.64%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-253.85%
EPS Next Y-3176.32%
EPS Next 2Y-287.49%
EPS Next 3Y108.14%
EPS Next 5Y79.36%
Revenue 1Y (TTM)22367.8%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%3043.4%
Revenue Next Year354.94%
Revenue Next 2Y258.43%
Revenue Next 3Y178.23%
Revenue Next 5Y108.75%
EBIT growth 1Y-4.59%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-119.75%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-56.63%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-54.02%
OCF growth 3YN/A
OCF growth 5YN/A