Journey Medical (DERM) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Journey Medical

NasdaqCM•Healthcare•Drug Manufacturers - Specialty & Generic

$7.97+0.11(0.01%)Pre-market

Market Cap

$200.43M

P/S

2.9x

P/B

6.2x

Journey Medical Corporation, a commercial-stage pharmaceutical company that focuses on the development and commercialization of pharmaceutical products for the treatment of dermatological conditions in the United States. The company's marketed products include Qbrexza, a medicated cloth towelette for the treatment of primary axillary hyperhidrosis; Accutane, an oral isotretinoin drug to treat severe recalcitrant nodular acne; and Amzeeq, a topical formulation of minocycline for the treatment of inflammatory lesions of non-nodular moderate to severe acne vulgaris. It also provides Zilxi, a topical minocycline treatment for inflammatory lesions of rosacea; Emrosi for the treatment of inflammatory lesions of rosacea; Exelderm cream and solution for the treatment of fungal skin infections; and Targadox, an oral doxycycline drug for adjunctive therapy for severe acne, as well as Luxamend, a water-based emulsion formulated to provide a moist healing environment for superficial wounds; minor cuts or scrapes; dermal ulcers; donor sites; first- and second-degree burns, including sunburns; and radiation dermatitis. The company was formerly known as Coronado Dermatology, Inc. Journey Medical Corporation was incorporated in 2014 and is headquartered in Scottsdale, Arizona.

How this company scores

WeakMetricSide Score: 58/100

Grade capped at D — Interest coverage below 1× (0.5x) — earnings cannot cover interest. Strongest: Growth (18/25); weakest: Cash & Earnings Quality (7/25).

Profitability17/25

Growth18/25

Balance Sheet & Red Flags16/25

Cash & Earnings Quality7/25

Strengths

Growing revenueLong cash runwayProfit converts from growthImproving leverage

Grade capped at D

Interest coverage below 1× (0.5x) — earnings cannot cover interest.

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 133.8x5y range 133.8x – 133.8x

P/S · 2.9x5y range 0.4x – 3.0x

Currently above its 17-quarter median.

P/B · 6.2x5y range 1.3x – 7094.0x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 7 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $200.43M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $68.18M
Q. Revenue: $18.51M
TTM EBITDA: $1.74M
TTM Op. Income: $-3.01M
Q. Op. Income: $456,000
TTM Net Income: $-6.10M
Q. Net Income: $-312,000
EPS: $-0.01
Shares Out.: $27.49M

$68.18M in TTM revenue grew 20.9% YoY, reaching $18.51M last quarter. TTM EBITDA of $1.74M and TTM operating income of $-3.01M show growth is flowing through to the bottom line. However, net income is negative at $6.10M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 6 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 66.8%
EBITDA Margin: 8.4%
Op. Margin: 2.5%
Net Margin: -1.7%

Op. margin of 2.5% is up 21.6% YoY — cost efficiency is improving. Net margin at -1.7% and gross margin of 66.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 113% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 2.9x
P/B Ratio: 6.2x

P/S of 2.9x and P/B of 6.2x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $98.36M
Cash: $25.64M
Long-Term Debt: $20.47M
Book Value: $32.11M
D/E Ratio: 0.6
Debt/EBITDA: 13.2

With $98.36M in assets and $20.47M in long-term debt, D/E is 0.6and book value is $32.11M — a conservative capital structure with a cushion to weather downturns. Across the last 8 quarters, debt/equity has fallen for 2 consecutive quarters — an improving trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-1.73M
TTM Free Cash Flow: $-7.49M
FCF Margin: -11.0%
FCF / Net Income: 1.2

TTM FCF of $-7.49M on $-1.73M in operating cash flow. The FCF / Net Income ratio of 1.2x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is up 58% — a weakening trend.