Sol-gel Technologies Ltd. key statistics and ratios

In fiscal 2025, Sol-gel Technologies Ltd. had return on equity of -23.7%, an operating margin of -38.9%, debt equal to 0.0% of equity and a current ratio of 4.37. 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.

Sol-gel Technologies Ltd.: financial ratios, annual
Fiscal year	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	<−999%	<−999%	−113.3%	−344.7%	9.5%	−418.3%	<−999%	−104.1%	−38.9%
Net margin	<−999%	<−999%	−107.4%	−333.9%	10.3%	−384.3%	<−999%	−91.7%	−31.6%
Free-cash-flow margin	<−999%	<−999%	−100.8%	−292.9%	−25.1%	−248.6%	<−999%	−120.4%	1.4%
Return on equity	—	—	−42.3%	−56.7%	6.1%	−30.5%	−67.4%	−31.4%	−23.7%
Return on assets	−206.1%	−75.8%	−37.6%	−48.6%	5.0%	−25.8%	−59.3%	−26.1%	−18.6%
Asset turnover	0.01	0.00	0.35	0.15	0.49	0.07	0.03	0.28	0.59
Current ratio	0.16	13.48	8.58	8.95	4.88	12.93	9.10	5.92	4.37
Debt to equity	—	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Effective tax rate	—	—	—	—	0.0%	—	—	—	—
R&D as % of revenue	>999%	>999%	177.2%	318.2%	65.2%	326.6%	>999%	154.3%	117.6%
Capital spending as % of revenue	>999%	815.5%	2.6%	5.1%	0.5%	4.4%	8.6%	0.0%	0.2%
Free cash flow ÷ net income	—	—	—	—	−243.2%	—	—	—	—

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

2 of 2 checks passed · December 31, 2025

What it owns · $30m

Short-term assets $27mLonger-term assets $3m

What it owes, and who funded it · $30m

Short-term liabilities $6mLonger-term liabilities $1mShareholders' equity $23m

Short-term assets cover short-term liabilities $27m of assets due within a year against $6m of liabilities due within a year.
Short-term assets cover long-term liabilities $27m short-term assets against $935,000 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 Interest not separately reported. Not assessable.

From Sol-gel Technologies Ltd.'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 Sol-gel Technologies Ltd.'s SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Sol-gel Technologies Ltd.