Phathom Pharmaceuticals price to book ratio PHAT

Market value divided by the book value of the company's net assets, since 2020.

Today, Oct 23, 2026: n/m; not a meaningful number
Last meaningful: 28.2×; Nov 2023
7-year median: 6.5×
7-year range: 3.1× to 50.3×
Peer median: 1.9×

Phathom Pharmaceuticals' price to book ratio is not a meaningful number today: shareholders' equity was zero, negative or not reported, so price to book does not exist.

It was last meaningful in Nov 2023, at 28.2×.

On the days it had one over the last 7 years, its median was 6.5×, from 3.1× in Mar 2020 to 50.3× in Aug 2023.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2023	28.2×	27.9×	50.3×
2022	9.5×	4.6×	10.5×
2021	6.0×	5.3×	8.9×
2020	6.2×	3.1×	8.4×

Against its peers

Companies in Drug Manufacturers - General nearest Phathom Pharmaceuticals' size, closest first, today.

Company	Price to book ratio
PHATPhathom Pharmaceuticals	n/m
ARVNArvinas	0.8×
PBYIPuma Biotechnology	4.1×
IRWDIronwood Pharmaceuticals	n/m
ZVRAZevra Therapeutics	2.7×
CRMDCorMedix	1.3×
COLLCollegium Pharmaceutical	2.4×
ABUSArbutus Biopharma	3.2×
NATRNatures Sunshine Products	1.3×
AMPHAmphastar Pharmaceuticals	1.4×
OMEROmeros	n/m
Peer median	1.9×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Phathom Pharmaceuticals

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.