Ocular Therapeutix, Inc.
OCULHealthcareNASDAQBiotechnology · Last scanned Jun 3, 2026
Scan Results
Daily timeframePart of the healthcare sector, Ocular Therapeutix, Inc. (OCUL) is listed under Biotechnology. The $1.82B market capitalization puts OCUL squarely in small-cap range for its industry. The company markets DEXTENZA, a dexamethasone ophthalmic insert to treat post-surgical ocular inflammation and pain following ophthalmic surgery, as well as allergic conjunctivitis.
Market Cap
$1.82B
Beta
0.93
P/E (TTM)
—
P/E (Fwd)
-5.44
EPS (TTM)
$-1.44
EPS (Fwd)
$-1.53
ROE
-68.5%
ROA
-32.9%
Cash
$666.7M
Total Debt
$79.5M
Free CF
-$148.8M
52W Change
-0.8%
Annual Financials
Cash vs Debt
Ocular Therapeutix, Inc. holds $666.7M in cash against $79.5M in total debt, giving it a net cash position. This means the company could theoretically pay off all its debt and still have cash remaining. Free cash flow is running at -$148.8M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of -68.5% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has been relatively flat, moving from $51.5M (2022) to $52.0M (2025).
The strong cash position relative to debt provides a financial cushion that reduces balance sheet risk. Negative free cash flow means the company is currently spending more than it generates, which may require future fundraising or debt if the trend continues. It is important to consider these factors alongside broader market conditions and individual financial goals when reviewing OCUL.