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Scilex Holding Co key statistics and ratios

In fiscal 2025, Scilex Holding Co had an operating margin of -1143.7% and a current ratio of 0.08. 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 margin90.9%88.4%71.6%66.5%——55.5%
Operating margin−149.7%−114.4%−133.1%−225.6%−147.4%<−999%<−999%
Net margin−201.7%−282.4%−61.4%−244.6%−128.7%<−999%<−999%
Free-cash-flow margin−133.6%−91.5%−55.9%−44.4%34.2%12.2%—
Return on assets<−999%−226.3%−28.4%−121.7%−75.0%−163.4%−150.2%
Asset turnover118.100.800.460.500.580.130.10
Current ratio0.170.140.660.190.160.080.07
Debt to equity0.0%—0.0%————
Interest cover (operating income ÷ interest)n/mn/mn/mn/mn/mn/mn/m
R&D as % of revenue42.3%29.4%23.8%27.3%17.0%68.5%58.9%
SG&A as % of revenue182.4%161.5%170.6%256.0%210.3%882.2%879.4%
Capital spending as % of revenue0.1%0.0%0.0%0.1%0.0%0.4%—
Dividends and buybacks ÷ free cash flow————44.7%——

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

0 of 3 checks passed · June 30, 2026
What it owns · $254m
Short-term assets $36mLonger-term assets $217m
What it owes, and who funded it · $564m
Short-term liabilities $512mLonger-term liabilities $52mShareholders' equity $-308m
  • Short-term assets cover short-term liabilities $36m of assets due within a year against $512m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $36m short-term assets against $52m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • 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 Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$359m against $16m of interest.

From Scilex Holding Co'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

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

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Figures from Scilex Holding Co'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 Scilex Holding Co.