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Travere Therapeutics (TVTX) Stock Fundamentals, Analysis & Risk Signals

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

Travere Therapeutics
NasdaqGM•Healthcare•Biotechnology
$63.48+0.97(0.02%)Pre-market
Market Cap
$6.05B
P/S
10.2x
P/B
246.8x

Travere Therapeutics, Inc., a biopharmaceutical company, identifies, develops, and delivers therapies to people living with rare kidney and metabolic diseases in the United States. The company's products include FILSPARI (sparsentan), a once-daily, oral medication designed to target two critical pathways in the disease progression of IgA Nephropathy (endothelin 1 and angiotensin-II); and Thiola and Thiola EC (tiopronin tablets) for the treatment of cystinuria, a rare genetic cystine transport disorder that causes high cystine levels in the urine and the formation of recurring kidney stones. Its clinical-stage programs consist of Sparsentan, a novel investigational product candidate, which has been granted Orphan Drug Designation for the treatment of focal segmental glomerulosclerosis in the U.S. and Europe; and Pegtibatinase, a novel investigational human enzyme replacement candidate being evaluated for the treatment of classical homocystinuria. It has a collaboration agreement with PharmaKrysto Limited for the pre-clinical activities associated with the cystinuria program. Travere Therapeutics, Inc. was formerly known as Retrophin, Inc. and changed its name to Travere Therapeutics, Inc. in November 2020. The company is headquartered in San Diego, California.

C

How this company scores

AverageMetricSide Score: 56/100

Strongest: Growth (20/25); weakest: Balance Sheet & Red Flags (4/25).

Profitability17/25
Growth20/25
Balance Sheet & Red Flags4/25
Cash & Earnings Quality15/25
Strengths
Growing revenueLong cash runwayProfit converts from growthConsistent growth

Valuation vs. 5-year range

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

P/S · 10.2x5y range 3.3x – 10.2x
P/S 10.2x · above its 20-quarter median

Currently above its 20-quarter median.

P/B · 246.8x5y range 2.4x – 246.8x
P/B 246.8x · above its 19-quarter median

Currently above its 19-quarter median.

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 4 of the last 8 quarters — earnings are not translating to cash.

Price & Volume
Market Cap $6.05B

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue
$591.33M
7Q
Q. Revenue
$169.58M
48%
TTM EBITDA
$22.91M
7Q
TTM Op. Income
$-40.46M
7Q
Q. Op. Income
$3.95M
131%
TTM Net Income
$-43.46M
74%
Q. Net Income
$-34.80M
173%
EPS
$-0.37
164%
Shares Out.
$93.48M
7Q
$591.33M in TTM revenue grew 77.1% YoY, reaching $169.58M last quarter. TTM EBITDA of $22.91M and TTM operating income of $-40.46M show growth is flowing through to the bottom line. However, net income is negative at $43.46M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin
98.7%
2Q
EBITDA Margin
4.8%
2Q
Op. Margin
2.3%
121%
Net Margin
-20.5%
84%
Op. margin of 2.3% is up 13.4% YoY — cost efficiency is improving. Net margin at -20.5% and gross margin of 98.7% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 121% — 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
10.2x
160%
P/B Ratio
246.8x
514%
P/S of 10.2x and P/B of 246.8x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

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

Total Assets
$799.36M
44%
Cash
$117.73M
57%
Long-Term Debt
$602.78M
7Q
Book Value
$24.52M
2Q
D/E Ratio
24.6
2Q
Debt/EBITDA
73.6
With $799.36M in assets and $602.78M in long-term debt, D/E is 24.6and book value is $24.52M — elevated leverage, meaning significant financial risk in a downturn. Across the last 7 quarters, debt/equity has risen for 2 consecutive quarters — a weakening trend.

Cash Flow

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

Op. Cash Flow
$58.07M
1065%
TTM Free Cash Flow
$92.56M
7Q
FCF Margin
15.7%
145%
FCF / Net Income
-2.1
7Q
TTM FCF of $92.56M on $58.07M in operating cash flow. The FCF / Net Income ratio of -2.1x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.

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Leverage Risk

Red Flag

D/E ratio is 24.6 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Cash Burn

Watch

4 of the last 8 quarters had negative FCF — inconsistent cash generation raises sustainability concerns.

Share Dilution

Red Flag

Shares outstanding increased 20.2% — significant dilution, likely from stock compensation or capital raises.