(DCTH) Delcath Systems - Overview
Sector: Healthcare | Industry: Medical Devices | Exchange: NASDAQ (USA) | Market Cap: 380m USD | Total Return: -34% in 12m
Avg Turnover: 4.97M
Qual. Beats: 0
Rev. Trend: 95.7%
Qual. Beats: 0
Warnings
Interest Coverage Ratio -0.0 is critical
Altman Z'' -15.00 < 1.0 - financial distress zone
Below Avwap Earnings
Tailwinds
No distinct edge detected
Delcath Systems, Inc. (DCTH) is a specialized interventional oncology firm focused on treating primary and metastatic liver cancers. Its primary technology, the HEPZATO KIT, utilizes a proprietary delivery system to administer high-dose melphalan chemotherapy directly to the liver while minimizing systemic toxicity through blood filtration. The company’s clinical focus centers on the FOCUS trial, targeting metastatic uveal melanoma, a rare cancer where the liver is the primary site of metastasis in approximately 90% of cases.
The company operates within the medical device and drug-delivery sector, a capital-intensive industry characterized by high regulatory barriers and lengthy FDA approval cycles. Delcaths business model leverages a dual-track strategy: it markets the technology as the HEPZATO KIT in the United States and as the CHEMOSAT Hepatic Delivery System in European markets for a broader range of liver malignancies. Interventional oncology represents a growing pillar of cancer care, utilizing minimally invasive, image-guided procedures to provide targeted local therapy.
Investors looking for deeper fundamental analysis of oncology stocks may find ValueRay to be a useful resource. Founded in 1988 and based in Queensbury, New York, Delcath continues to transition its lead candidate through late-stage clinical development and commercial expansion.
- HEPZATO KIT commercial adoption rates drive primary revenue growth in United States
- Medicare reimbursement coverage expansion impacts long-term hospital procedure volume
- FOCUS clinical trial data updates influence investor sentiment on uveal melanoma efficacy
- CHEMOSAT device sales in Europe provide secondary international revenue stream
- High cash burn rates necessitate future capital raises to fund commercialization efforts
| Net Income: 561k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.15 > 0.02 and ΔFCF/TA 24.06 > 1.0 |
| NWC/Revenue: 121.2% < 20% (prev 146.8%; Δ -25.67% < -1%) |
| CFO/TA 0.17 > 3% & CFO 21.2m > Net Income 561k |
| Current Ratio: 11.24 > 1.5 & < 3 |
| Outstanding Shares: last quarter (36.0m) vs 12m ago -8.83% < -2% |
| Gross Margin: 85.97% > 18% (prev 0.85%; Δ 8.51k% > 0.5%) |
| Asset Turnover: 85.26% > 50% (prev 61.67%; Δ 23.59% > 0%) |
| Interest Coverage Ratio: -0.00 > 6 (EBITDA TTM 324k / Interest Expense TTM 1.45m) |
| A: 0.88 (Total Current Assets 120.3m - Total Current Liabilities 10.7m) / Total Assets 124.8m |
| B: -4.24 (Retained Earnings -529.9m / Total Assets 124.8m) |
| C: -0.00 (EBIT TTM -6.00k / Avg Total Assets 106.1m) |
| D: -43.62 (Book Value of Equity -529.0m / Total Liabilities 12.1m) |
| Altman-Z'' = -53.88 = D |
As of May 27, 2026, the stock is trading at USD 10.83 with a total of 548,241 shares traded.
Over the past week, the price has changed by -2.34%,
over one month by -0.09%,
over three months by +20.33% and
over the past year by -34.00%.
Delcath Systems has received a consensus analysts rating of 4.67. Therefore, it is recommended to buy DCTH.
- StrongBuy: 4
- Buy: 2
- Hold: 0
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 21.3 | 96.6% |
P/E Trailing = 1102.0001
P/E Forward = 25.7732
P/S = 4.2064
P/B = 3.3753
P/EG = 1.5966
Revenue TTM = 90.4m USD
EBIT TTM = -6.00k USD
EBITDA TTM = 324k USD
Long Term Debt = 815k USD (estimated: total debt 907k - short term 92.0k)
Short Term Debt = 92.0k USD (from shortTermDebt, last quarter)
Debt = 907k USD (from shortLongTermDebtTotal, last quarter) (leases 907k already included)
Net Debt = -88.4m USD (calculated: Debt 907k - CCE 89.3m)
Enterprise Value = 292.0m USD (380.4m + Debt 907k - CCE 89.3m)
Interest Coverage Ratio = -0.00 (Ebit TTM -6.00k / Interest Expense TTM 1.45m)
EV/FCF = 15.22x (Enterprise Value 292.0m / FCF TTM 19.2m)
FCF Yield = 6.57% (FCF TTM 19.2m / Enterprise Value 292.0m)
FCF Margin = 21.22% (FCF TTM 19.2m / Revenue TTM 90.4m)
Net Margin = 0.62% (Net Income TTM 561k / Revenue TTM 90.4m)
Gross Margin = 85.97% ((Revenue TTM 90.4m - Cost of Revenue TTM 12.7m) / Revenue TTM)
Gross Margin QoQ = 85.05% (prev 85.48%)
Tobins Q-Ratio = 2.34 (Enterprise Value 292.0m / Total Assets 124.8m)
Interest Expense / Debt = 159.3% (Interest Expense 1.45m / Debt 907k)
Taxrate = 23.08% (810k / 3.51m)
NOPAT = -4.62k (EBIT -6.00k * (1 - 23.08%)) [loss with tax shield]
Current Ratio = 11.24 (Total Current Assets 120.3m / Total Current Liabilities 10.7m)
Debt / Equity = 0.01 (Debt 907k / totalStockholderEquity, last quarter 112.7m)
Debt / EBITDA = -272.8 (out of range, set to none) (Net Debt -88.4m / EBITDA 324k)
Debt / FCF = -4.61 (Net Debt -88.4m / FCF TTM 19.2m)
Total Stockholder Equity = 110.9m (last 4 quarters mean from totalStockholderEquity)
RoA = 0.53% (Net Income 561k / Total Assets 124.8m)
RoE = 0.09% (Net Income TTM 561k / Total Stockholder Equity 640.9m)
RoCE = -0.00% (EBIT -6.00k / Capital Employed (Equity 640.9m + L.T.Debt 815k))
RoIC = -0.00% (negative operating profit) (NOPAT -4.62k / Invested Capital 114.2m)
WACC = 10.69% (E(380.4m)/V(381.3m) * Re(10.72%) + (debt cost/tax rate unavailable))
Discount Rate = 10.72% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 60.0 | Cagr: 21.86%
[DCF] Terminal Value 67.68% ; FCFF base≈19.2m ; Y1≈19.3m ; Y5≈20.4m
[DCF] Fair Price = 9.14 (EV 227.0m - Net Debt -88.4m = Equity 315.4m / Shares 34.5m; r=10.69% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.54 | # QB: 0
Revenue Correlation: 95.69 | Revenue CAGR: 407.6% | SUE: 0.04 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.10 | Chg30d=+17.97% | Revisions=-43% | Analysts=4
EPS next Quarter (2026-09-30): EPS=-0.24 | Chg30d=-2.37% | Revisions=-43% | Analysts=4
EPS current Year (2026-12-31): EPS=-0.63 | Chg30d=+0.94% | Revisions=-56% | GrowthEPS=-892.5% | GrowthRev=+21.4%
EPS next Year (2027-12-31): EPS=-0.38 | Chg30d=-95.56% | Revisions=-50% | GrowthEPS=+39.5% | GrowthRev=+29.5%
[Analyst] Revisions Ratio: -56%