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Journey Medical Corp key statistics and ratios

In fiscal 2025, Journey Medical Corp had return on equity of -44.0%, an operating margin of -13.2%, debt equal to 82.4% of equity and a current ratio of 1.79. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin67.2%49.2%58.2%71.1%62.8%66.2%—
Operating margin17.6%−55.2%−37.4%−2.6%−24.4%−13.2%−4.4%
Net margin11.9%−69.7%−40.2%−4.9%−26.1%−18.5%−9.0%
Free-cash-flow margin——−45.5%0.3%−43.0%−20.1%−11.0%
Return on equity51.3%−168.1%−100.4%−20.6%−72.6%−44.0%−19.1%
Return on assets10.2%−59.0%−29.3%−4.2%−18.7%−13.1%−6.3%
Asset turnover0.860.850.730.870.710.710.71
Current ratio1.261.641.161.351.371.791.59
Debt to equity0.0%1.9%180.9%77.4%124.6%82.4%81.7%
Interest cover (operating income ÷ interest)11.2xn/mn/mn/mn/mn/mn/m
Effective tax rate26.1%——————
R&D as % of revenue—4.3%14.9%9.5%17.6%0.8%—
SG&A as % of revenue49.6%63.1%80.7%55.5%71.6%71.7%62.9%
Capital spending as % of revenue——27.1%6.3%26.7%0.0%0.0%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · June 30, 2026
What it owns · $98m
Short-term assets $73mLonger-term assets $26m
What it owes, and who funded it · $98m
Short-term liabilities $46mLonger-term liabilities $20mShareholders' equity $32m
  • Short-term assets cover short-term liabilities $73m of assets due within a year against $46m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $73m short-term assets against $20m of longer-dated liabilities.
  • More cash than debt $26m of cash against $25m of debt.
  • Debt below 40% of shareholders' equity Debt is 79% of equity.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt −$7m of operating cash flow against $25m of debt.
  • Operating profit covers interest at least five times over Operating income of −$3m against $4m of interest.

From Journey Medical Corp's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

35 /100

Weak moat

How hard Journey Medical's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -10.8% of total assets over 5 years.

  • Pricing power 14 / 20

    Gross margin has been a median 61.3%, moving by 7.8 percentage points (standard deviation) across 5 years.

  • Durability 10 / 20

    Operating margin has been a median -15.6%; its worst year was -59.7%.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (40 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

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Figures from Journey Medical Corp's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Journey Medical Corp.