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Evolus, Inc. key statistics and ratios

In fiscal 2025, Evolus, Inc. had an operating margin of -11.0% and a current ratio of 1.90. 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 year2018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin—77.1%67.6%56.3%60.4%68.1%68.5%66.3%66.7%
Operating margin—−283.3%−270.7%−44.6%−44.0%−24.4%−12.9%−11.0%−5.9%
Net margin—−257.8%−288.3%−47.0%−50.1%−30.5%−18.9%−17.4%−10.8%
Free-cash-flow margin—−268.4%−103.8%−33.9%−58.2%−17.1%−7.3%−15.4%−5.8%
Return on equity−55.5%−109.9%——−148.3%————
Return on assets−27.3%−43.7%−72.5%−20.1%−34.2%−33.6%−23.9%−22.5%−14.5%
Asset turnover—0.170.250.430.681.101.261.301.34
Current ratio17.886.230.713.102.172.332.401.901.70
Debt to equity20.0%94.4%—91.6%405.4%—>999%——
Interest cover (operating income ÷ interest)n/m——n/mn/mn/mn/mn/mn/m
R&D as % of revenue—11.4%3.0%2.1%3.2%3.2%3.4%3.2%3.1%
SG&A as % of revenue—325.2%173.7%112.4%95.4%81.6%74.4%74.3%68.4%
Capital spending as % of revenue—1.0%1.4%0.4%1.1%0.2%0.6%1.2%0.9%

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

1 of 5 checks passed · June 30, 2026
What it owns · $248m
Short-term assets $168mLonger-term assets $80m
What it owes, and who funded it · $279m
Short-term liabilities $99mLonger-term liabilities $180mShareholders' equity $-31m
  • Short-term assets cover short-term liabilities $168m of assets due within a year against $99m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $168m short-term assets against $180m of longer-dated liabilities.
  • More cash than debt $45m of cash against $157m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • 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 −$15m of operating cash flow against $157m of debt.
  • Operating profit covers interest at least five times over Operating income of −$19m against $16m of interest.

From Evolus, Inc.'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

10 /100

Weak moat

How hard Evolus's competitive advantage looks for rivals to wear away, judged from 9 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 -35.9% of total assets over 9 years.

  • Durability 10 / 20

    Operating margin has been a median -44.4%; its worst year was -3689.4%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 8 years, at a median -25.9% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 63.2% over five years; stock-based pay has been a median 8.4% of revenue.

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 (15 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

Head to head: EOLS vs XERSEOLS vs HROWEOLS vs IRWD

More: Pharmaceuticals stocks compared, Health Care sector, rankings of US companies

Figures from Evolus, Inc.'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 Evolus, Inc.