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ARS PHARMACEUTICALS INC (SPRY) Stock Fundamental Analysis

USA - Nasdaq - NASDAQ:SPRY - US82835W1080 - Common Stock

9.28 USD
+1.25 (+15.57%)
Last: 11/25/2025, 5:15:39 PM
9.0361 USD
-0.24 (-2.63%)
After Hours: 11/25/2025, 5:15:39 PM
Fundamental Rating

3

Taking everything into account, SPRY scores 3 out of 10 in our fundamental rating. SPRY was compared to 533 industry peers in the Biotechnology industry. SPRY scores quite bad on profitability, while its financial health is fine. Not spectacular, but in line with the averages. SPRY is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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2

1. Profitability

1.1 Basic Checks

In the past year SPRY has reported negative net income.
In the past year SPRY has reported a negative cash flow from operations.
SPRY had negative earnings in 4 of the past 5 years.
SPRY had negative operating cash flow in 4 of the past 5 years.
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

SPRY's Return On Assets of -21.47% is fine compared to the rest of the industry. SPRY outperforms 74.48% of its industry peers.
Looking at the Return On Equity, with a value of -54.21%, SPRY is in the better half of the industry, outperforming 64.35% of the companies in the same industry.
Industry RankSector Rank
ROA -21.47%
ROE -54.21%
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

The Gross Margin of SPRY (89.40%) is better than 90.62% 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 89.4%
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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4

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

Based on the Altman-Z score of 1.67, we must say that SPRY is in the distress zone and has some risk of bankruptcy.
With a decent Altman-Z score value of 1.67, SPRY is doing good in the industry, outperforming 66.04% of the companies in the same industry.
A Debt/Equity ratio of 0.65 indicates that SPRY is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.65, SPRY is not doing good in the industry: 72.80% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF N/A
Altman-Z 1.67
ROIC/WACCN/A
WACC8.68%
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 6.66 indicates that SPRY has no problem at all paying its short term obligations.
The Current ratio of SPRY (6.66) is better than 69.04% of its industry peers.
SPRY has a Quick Ratio of 6.51. This indicates that SPRY is financially healthy and has no problem in meeting its short term obligations.
Looking at the Quick ratio, with a value of 6.51, SPRY is in the better half of the industry, outperforming 68.29% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 6.66
Quick Ratio 6.51
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

The earnings per share for SPRY have decreased strongly by -64.71% in the last year.
Looking at the last year, SPRY shows a very strong growth in Revenue. The Revenue has grown by 5459.66%.
EPS 1Y (TTM)-64.71%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-160%
Revenue 1Y (TTM)5459.66%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%1471.62%

3.2 Future

The Earnings Per Share is expected to grow by 79.36% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 108.75% on average over the next years. This is a very strong growth
EPS Next Y-3461.92%
EPS Next 2Y-323.23%
EPS Next 3Y103.97%
EPS Next 5Y79.36%
Revenue Next Year336.7%
Revenue Next 2Y257.79%
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

The Price/Earnings Ratio is negative for SPRY. In the last year negative earnings were reported.
Besides the negative Price/Earnings Ratio, also the Forward Price/Earnings Ratio is negative for SPRY. No positive earnings are expected for the next year.
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 40 60 80 100

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

4.3 Compensation for Growth

A more expensive valuation may be justified as SPRY's earnings are expected to grow with 103.97% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-323.23%
EPS Next 3Y103.97%

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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 (11/25/2025, 5:15:39 PM)

After market: 9.0361 -0.24 (-2.63%)

9.28

+1.25 (+15.57%)

Chartmill FA Rating
GICS SectorHealth Care
GICS IndustryGroupPharmaceuticals, Biotechnology & Life Sciences
GICS IndustryBiotechnology
Earnings (Last)11-10 2025-11-10/bmo
Earnings (Next)03-18 2026-03-18/amc
Inst Owners78.09%
Inst Owner ChangeN/A
Ins Owners12%
Ins Owner Change-1.69%
Market Cap917.14M
Revenue(TTM)142.77M
Net Income(TTM)-80.04M
Analysts88.33
Price Target31.04 (234.48%)
Short Float %26.78%
Short Ratio8.42
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)1
Avg EPS beat(2)-2.54%
Min EPS beat(2)-9.13%
Max EPS beat(2)4.05%
EPS beat(4)3
Avg EPS beat(4)109.77%
Min EPS beat(4)-9.13%
Max EPS beat(4)443.14%
EPS beat(8)5
Avg EPS beat(8)56.23%
EPS beat(12)8
Avg EPS beat(12)95.79%
EPS beat(16)9
Avg EPS beat(16)67.39%
Revenue beat(2)2
Avg Revenue beat(2)11.35%
Min Revenue beat(2)10.86%
Max Revenue beat(2)11.85%
Revenue beat(4)4
Avg Revenue beat(4)115.96%
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)-6.58%
PT rev (3m)-4.91%
EPS NQ rev (1m)-10.96%
EPS NQ rev (3m)-60.65%
EPS NY rev (1m)0%
EPS NY rev (3m)-9.28%
Revenue NQ rev (1m)-5.01%
Revenue NQ rev (3m)-7.44%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.01%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 6.42
P/FCF N/A
P/OCF N/A
P/B 6.21
P/tB 6.9
EV/EBITDA N/A
EPS(TTM)-0.84
EYN/A
EPS(NY)-0.8
Fwd EYN/A
FCF(TTM)-0.87
FCFYN/A
OCF(TTM)-0.86
OCFYN/A
SpS1.44
BVpS1.49
TBVpS1.35
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -21.47%
ROE -54.21%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 89.4%
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
ROICexgc growth 3YN/A
ROICexgc 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-Score3
Asset Turnover0.38
Health
Industry RankSector Rank
Debt/Equity 0.65
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 65.47%
Cap/Sales 0.45%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 6.66
Quick Ratio 6.51
Altman-Z 1.67
F-Score3
WACC8.68%
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)-64.71%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-160%
EPS Next Y-3461.92%
EPS Next 2Y-323.23%
EPS Next 3Y103.97%
EPS Next 5Y79.36%
Revenue 1Y (TTM)5459.66%
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%1471.62%
Revenue Next Year336.7%
Revenue Next 2Y257.79%
Revenue Next 3Y178.23%
Revenue Next 5Y108.75%
EBIT growth 1Y-50.04%
EBIT growth 3YN/A
EBIT growth 5YN/A
EBIT Next Year-119.75%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-184.36%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-180.29%
OCF growth 3YN/A
OCF growth 5YN/A

ARS PHARMACEUTICALS INC / SPRY FAQ

Can you provide the ChartMill fundamental rating for ARS PHARMACEUTICALS INC?

ChartMill assigns a fundamental rating of 3 / 10 to SPRY.


What is the valuation status of ARS PHARMACEUTICALS INC (SPRY) stock?

ChartMill assigns a valuation rating of 1 / 10 to ARS PHARMACEUTICALS INC (SPRY). This can be considered as Overvalued.


What is the profitability of SPRY stock?

ARS PHARMACEUTICALS INC (SPRY) has a profitability rating of 2 / 10.


How financially healthy is ARS PHARMACEUTICALS INC?

The financial health rating of ARS PHARMACEUTICALS INC (SPRY) is 4 / 10.