Cormedix - Public Comps and Valuation Multiples

Cormedix Overview

About Cormedix

Cormedix Inc is a biopharmaceutical company focused on developing and commercializing therapeutic products for life-threatening diseases and conditions. The Company’s focus is on the commercialization of its product, DefenCath, in the United States (U.S.) and other key markets. The group currently operates in a single segment, Drug Product, located in a single geographic location, the United States.

Founded

2006

HQ

Employees

Website

cormedix.com

Sectors

Drug Development & Therapeutics
BioTech

Financials

LTM Revenue $181M

Last FY EBITDA -$19.0M

EV

$675M

Valuation Multiples

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Cormedix Financials

As of August 2025, Cormedix reported last 12-month revenue of $181M.

In the same period, Cormedix generated $163M in LTM gross profit and $82.6M in net income.

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Cormedix P&L

In the most recent fiscal year, Cormedix reported revenue of $43.5M and EBITDA of -$19.0M.

Cormedix expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$181M	XXX	$43.5M	XXX	XXX	XXX
Gross Profit	$163M	XXX	$40.3M	XXX	XXX	XXX
Gross Margin	90%	XXX	93%	XXX	XXX	XXX
EBITDA	n/a	XXX	-$19.0M	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-44%	XXX	XXX	XXX
EBIT	$83.7M	XXX	-$22.4M	XXX	XXX	XXX
EBIT Margin	46%	XXX	-51%	XXX	XXX	XXX
Net Profit	$82.6M	XXX	-$17.9M	XXX	XXX	XXX
Net Margin	46%	XXX	-41%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Cormedix including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $181M. In the most recent fiscal year, Cormedix achieved $43.5M in revenue and -$19.0M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$181M	Analyst estimates available to subscribers	$43.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$163M	Analyst estimates available to subscribers	$40.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	90.2% gross margin	Analyst estimates available to subscribers	92.7% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	n/a	Analyst estimates available to subscribers	-$19.0M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	-43.7% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$83.7M	Analyst estimates available to subscribers	-$22.4M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	46.2% EBIT margin	Analyst estimates available to subscribers	-51.4% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$82.6M	Analyst estimates available to subscribers	-$17.9M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	45.6% net profit margin	Analyst estimates available to subscribers	-41.2% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Cormedix

This financial data table provides comprehensive performance metrics for Cormedix, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Cormedix generated $181M in revenue over the last twelve months.
Gross profit for the last twelve months was $163M.
Net income over the last twelve months reached $82.6M.

Fiscal Year Performance

In the most recent fiscal year, Cormedix reported $43.5M in total revenue.
Fiscal year EBITDA was -$19.0M.
The company maintained a gross profit margin of 92.7% in the most recent fiscal year.
EBITDA margin for the fiscal year was -43.7%.
Net profit margin reached -41.2% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Cormedix. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Cormedix Stock Performance

Cormedix has current market cap of $865M, and EV of $675M.

Market Cap Evolution

Cormedix Stock Data

As of September 18, 2025, Cormedix's stock price is $12.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$675M	$865M	XXX	XXX	XXX	XXX	$1.11

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Cormedix Valuation Multiples

Cormedix's trades at 15.5x EV/Revenue multiple, and -35.6x EV/EBITDA.

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Cormedix Financial Valuation Multiples

As of September 18, 2025, Cormedix has market cap of $865M and EV of $675M.

Equity research analysts estimate Cormedix's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Cormedix has a P/E ratio of 10.5x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$865M	XXX	$865M	XXX	XXX	XXX
EV (current)	$675M	XXX	$675M	XXX	XXX	XXX
EV/Revenue	3.7x	XXX	15.5x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	-35.6x	XXX	XXX	XXX
EV/EBIT	8.1x	XXX	-30.2x	XXX	XXX	XXX
EV/Gross Profit	4.1x	XXX	n/a	XXX	XXX	XXX
P/E	10.5x	XXX	-48.3x	XXX	XXX	XXX
EV/FCF	8.0x	XXX	-13.3x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Cormedix Margins & Growth Rates

Cormedix's last 12 month revenue growth is 85%

Cormedix's revenue per employee in the last FY averaged $0.7M, while opex per employee averaged $1.0M for the same period.

Cormedix's rule of 40 is unknown (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Cormedix's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Cormedix Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	85%	XXX	194%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-44%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	n/a	XXX	41%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.7M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$1.0M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	66%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	9%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	144%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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