(OCS) Oculis Holding Ordinary - Overview

Sector: Healthcare | Industry: Biotechnology | Exchange: NASDAQ (USA) | Market Cap: 1.872m USD | Total Return: 64.3% in 12m

Eye Drops, Biopharmaceuticals, Neuroprotectants, Clinical Candidates
Total Rating 32
Safety 37
Buy Signal -0.38
Biotechnology
Industry Rotation: -8.2
Market Cap: 1.87B
Avg Turnover: 11.4M
Risk 3d forecast
Volatility108%
VaR 5th Pctl15.1%
VaR vs Median-21.7%
Reward TTM
Sharpe Ratio1.36
Rel. Str. IBD82.4
Rel. Str. Peer Group59.3
Character TTM
Beta0.356
Beta Downside0.215
Hurst Exponent0.548
Drawdowns 3y
Max DD37.28%
CAGR/Max DD1.01
CAGR/Mean DD2.81
EPS (Earnings per Share) EPS (Earnings per Share) of OCS over the last years for every Quarter: "2021-03": 0.02, "2021-06": 0.04, "2021-09": 0.07, "2021-12": -0.03, "2022-03": 0.11, "2022-06": 0.01, "2022-09": -0.02, "2022-12": -0.06, "2023-03": -1.51, "2023-06": -0.38, "2023-09": -0.48, "2023-12": -0.34, "2024-03": -0.44, "2024-06": -0.51, "2024-09": -0.48, "2024-12": -0.67, "2025-03": -0.69, "2025-06": -0.49, "2025-09": -0.32, "2025-12": -0.42, "2026-03": -0.49,
Last SUE: -0.65
Qual. Beats: 0
Revenue Revenue of OCS over the last years for every Quarter: 2021-03: null, 2021-06: null, 2021-09: 0.02, 2021-12: 0.387, 2022-03: 0.248, 2022-06: 0.24, 2022-09: 0.202, 2022-12: 0.214, 2023-03: 0.2395, 2023-06: 0.25, 2023-09: 0.219, 2023-12: 0.185, 2024-03: 0.222, 2024-06: 0.245, 2024-09: 0, 2024-12: 0, 2025-03: 0, 2025-06: 0.261, 2025-09: 0.243, 2025-12: 0, 2026-03: 0,
Rev. CAGR: -30.57%
Rev. Trend: -69.9%
Last SUE: -0.53
Qual. Beats: 0

Warnings

Share dilution 22.1% YoY

Interest Coverage Ratio -105.3 is critical

Altman Z'' -11.62 < 1.0 - financial distress zone

Below Avwap Earnings

Tailwinds

Confidence

Description: OCS Oculis Holding Ordinary

Oculis Holding AG (OCS) is a Switzerland-based clinical-stage biopharmaceutical company focused on developing topical and neuroprotective treatments for ophthalmic and neurological diseases. The company utilizes its proprietary Optireach technology to enhance drug delivery to both the front and back of the eye, aiming to replace invasive injections with non-invasive eye drops.

The company’s portfolio includes OCS-01, currently in Phase 3 trials for diabetic macular edema, alongside OCS-02 for dry eye disease and OCS-05, a neuroprotective candidate targeting optic neuritis and glaucoma. Biotechnology firms in the ophthalmology sector often face high R&D costs and rigorous regulatory hurdles, as clinical success depends on demonstrating superior efficacy over existing standard-of-care surgical or injectable interventions.

For a detailed breakdown of the companys financial health and pipeline progress, you may find further insights on ValueRay helpful. Founded in 2017 and headquartered in Zug, Oculis operates internationally to address significant unmet needs in vision loss and neuro-ophthalmology.

Headlines to Watch Out For
  • OCS-01 Phase 3 clinical trial results for diabetic macular edema
  • Regulatory approval timeline for OCS-02 topical biologic in dry eye disease
  • Clinical data readouts for OCS-05 neuroprotective agent across multiple indications
  • Cash runway and funding requirements for late-stage ophthalmic drug development
  • Market adoption of Optireach technology versus traditional ocular drug delivery methods
Piotroski VR-10 (Strict) 0.0
Net Income: -95.1m TTM > 0 and > 6% of Revenue
FCF/TA: -0.26 > 0.02 and ΔFCF/TA 1.06 > 1.0
NWC/Revenue: 36.2k% < 20% (prev 61.0k%; Δ -24.7k% < -1%)
CFO/TA -0.26 > 3% & CFO -62.2m > Net Income -95.1m
Net Debt/EBITDA: error (EBITDA <= 0)
Current Ratio: 5.18 > 1.5 & < 3
Outstanding Shares: last quarter (58.9m) vs 12m ago 22.05% < -2%
Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin)
Asset Turnover: 0.23% > 50% (prev 0.12%; Δ 0.11% > 0%)
Interest Coverage Ratio: -105.3 > 6 (EBITDA TTM -83.8m / Interest Expense TTM 801k)
Altman Z'' -11.62
A: 0.75 (Total Current Assets 226.4m - Total Current Liabilities 43.7m) / Total Assets 243.3m
B: -1.69 (Retained Earnings -412.1m / Total Assets 243.3m)
C: -0.38 (EBIT TTM -84.4m / Avg Total Assets 223.7m)
D: -8.08 (Book Value of Equity -381.4m / Total Liabilities 47.2m)
Altman-Z'' = -11.62 = D
Beneish M -3.07
DSRI: 0.30 (Receivables 1.57m/2.56m, Revenue 504k/245k)
GMI: 1.00 (fallback, negative margins)
AQI: 0.85 (AQ_t 0.06 / AQ_t-1 0.07)
SGI: 2.06 (Revenue 504k / 245k)
TATA: -0.14 (NI -95.1m - CFO -62.2m) / TA 243.3m)
Beneish M = -3.07 (Cap -4..+1) = AA
What is the price of OCS shares?

As of May 24, 2026, the stock is trading at USD 31.00 with a total of 964,318 shares traded.
Over the past week, the price has changed by -2.64%, over one month by +5.89%, over three months by +2.93% and over the past year by +64.29%.

Is OCS a buy, sell or hold?

Oculis Holding Ordinary has received a consensus analysts rating of 4.71. Therefore, it is recommended to buy OCS.

  • StrongBuy: 5
  • Buy: 2
  • Hold: 0
  • Sell: 0
  • StrongSell: 0

What are the forecasts/targets for the OCS price?
Analysts Target Price 49.3 58.9%
Oculis Holding Ordinary (OCS) - Fundamental Data Overview as of 23 May 2026
Market Cap CHF = 1.47b (1.87b USD * 0.7871 USD.CHF)
P/S = 1666.9904
P/B = 7.5101
Revenue TTM = 504k CHF
EBIT TTM = -84.4m CHF
EBITDA TTM = -83.8m CHF
Long Term Debt = 1.83m CHF (estimated: total debt 2.24m - short term 415k)
Short Term Debt = 415k CHF (from shortTermDebt, last quarter)
Debt = 2.24m CHF (from shortLongTermDebtTotal, last quarter) (leases 2.25m already included)
Net Debt = -219.1m CHF (calculated: Debt 2.24m - CCE 221.4m)
Enterprise Value = 1.25b CHF (1.47b + Debt 2.24m - CCE 221.4m)
Interest Coverage Ratio = -105.3 (Ebit TTM -84.4m / Interest Expense TTM 801k)
EV/FCF = -20.08x (Enterprise Value 1.25b / FCF TTM -62.5m)
FCF Yield = -4.98% (FCF TTM -62.5m / Enterprise Value 1.25b)
 FCF Margin = -12.4k% (FCF TTM -62.5m / Revenue TTM 504k)
 Net Margin = -18.9k% (Net Income TTM -95.1m / Revenue TTM 504k)
 Gross Margin = unknown ((Revenue TTM 504k - Cost of Revenue TTM 0.0) / Revenue TTM)
 Tobins Q-Ratio = 5.16 (Enterprise Value 1.25b / Total Assets 243.3m)
Interest Expense / Debt = 35.76% (Interest Expense 801k / Debt 2.24m)
Taxrate = 21.0% (US default 21%)
NOPAT = -66.7m (EBIT -84.4m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 5.18 (Total Current Assets 226.4m / Total Current Liabilities 43.7m)
Debt / Equity = 0.01 (Debt 2.24m / totalStockholderEquity, last quarter 196.1m)
 Debt / EBITDA = 2.61 (negative EBITDA) (Net Debt -219.1m / EBITDA -83.8m)
 Debt / FCF = 3.51 (negative FCF - burning cash) (Net Debt -219.1m / FCF TTM -62.5m)
 Total Stockholder Equity = 166.5m (last 4 quarters mean from totalStockholderEquity)
RoA = -42.49% (Net Income -95.1m / Total Assets 243.3m)
RoE = -16.43% (Net Income TTM -95.1m / Total Stockholder Equity 578.6m)
RoCE = -14.54% (EBIT -84.4m / Capital Employed (Equity 578.6m + L.T.Debt 1.83m))
 RoIC = -33.37% (negative operating profit) (NOPAT -66.7m / Invested Capital 199.7m)
 WACC = 7.26% (E(1.47b)/V(1.48b) * Re(7.23%) + D(2.24m)/V(1.48b) * Rd(35.76%) * (1-Tc(0.21)))
Discount Rate = 7.23% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 94.39 | Cagr: 23.31%
 [DCF] Fair Price = unknown (Cash Flow -62.5m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.65 | # QB: 0
Revenue Correlation: -69.89 | Revenue CAGR: -30.57% | SUE: -0.53 | # QB: 0
EPS current Quarter (2026-06-30): EPS=-0.40 | Chg30d=+7.27% | Revisions=+33% | Analysts=7
EPS next Quarter (2026-09-30): EPS=-0.44 | Chg30d=+4.14% | Revisions=+33% | Analysts=7
EPS current Year (2026-12-31): EPS=-1.76 | Chg30d=-0.92% | Revisions=+0% | GrowthEPS=+6.7% | GrowthRev=+343.2%
EPS next Year (2027-12-31): EPS=-1.64 | Chg30d=+2.82% | Revisions=+20% | GrowthEPS=+7.1% | GrowthRev=+910.4%
[Analyst] Revisions Ratio: +33%