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SIGA Technologies, Inc. (SIGA)

NASDAQ / Healthcare / Drug Manufacturers - Specialty & Generic

Share price

3.10 USD Market dataClose of Oct 14, 2026

Market capitalisation

222.3M USD Market dataClose of Oct 14, 2026
Market data
Oct 14, 2026
Filed accounts
FY2025, filed Mar 10, 2026
Ratios computed
Oct 14, 2026
Filed years
16, FY2009 to FY2025
Four kinds of sourceSEC filingCompany statementMarket dataComputedWhat each means
SEC filingFiled with the SEC
Read from a statement the company filed with the SEC, with the form, fiscal year, filing date and accession beside it.
Company statementCompany statement
What the company says about itself in a filing: an 8-K item, the auditor, its own segment names.
Market dataMarket data
Prices, market value and what analysts publish, with the date they are as of.
ComputedComputed by ValueScreener
Worked out by us from the other three, with the inputs and the formula one press away. A score is a research output, not a rating or a recommendation.
Reading

1 of 10

Overview

What the business is, what it costs, and how it reads on four questions.

Market dataSEC filingComputed

Four questions, at a glance

Quality

Return on invested capital, after tax

40.7% Computed

From the FY2025 filing

Read quality

Valuation

Price to earnings

9.39x Computed

FY2025 accounts, priced at the latest close

Read valuation

Cash generation

Free cash flow yield

19.4% Computed

FY2025 accounts, priced at the latest close

Read cash generation

Revenue and net income, as filed

FY2016 Revenue: 15.0M USDFY2016 Net income: -39.7M USDFY2017 Revenue: 12.3M USDFY2017 Net income: -36.2M USDFY2018 Revenue: 477.1M USDFY2018 Net income: 421.8M USDFY2019 Revenue: 26.7M USDFY2019 Net income: -7.2M USDFY2020 Revenue: 125.0M USDFY2020 Net income: 56.3M USDFY2021 Revenue: 133.7M USDFY2021 Net income: 69.5M USDFY2022 Revenue: 110.8M USDFY2022 Net income: 33.9M USDFY2023 Revenue: 139.9M USDFY2023 Net income: 68.1M USDFY2024 Revenue: 138.7M USDFY2024 Net income: 59.2M USDFY2025 Revenue: 94.6M USDFY2025 Net income: 23.3M USD
Revenue Net income10 filed fiscal years, from the annual reports; the table in Filings names each document.
Named tests met
6 of 30 Which tests
The business, and the score behind its five axes

The reading, in brief

Is it cheap

Price to earnings is 9.39x at the close of 2026-10-14 on FY2025 figures; the lines are 15.00x (Graham's defensive ceiling) and, by market convention, 10.00x, 25.00x and 40.00x, and this sits below the lowest.

Today, against the Healthcare sector (222 companies), 9.39x sits at the 17th percentile; the middle half of that group runs from 13.32x to 42.36x.

Is it good

Return on invested capital was 40.7% in FY2025, in the band labelled "Exceptional" (20.0% and above), on lines anchored on Damodaran's cost-of-capital data, suggesting returns on the capital in the business well above the usual cost of that capital.

Today, against the Healthcare sector (192 companies), 40.7% sits at the 95th percentile; the middle half of that group runs from -20.2% to 14.2%.

Is it safe

SIGA Technologies, Inc. held more cash than debt at the end of FY2025 (net cash of 154.2m USD), so net debt to EBITDA is a net cash position rather than a leverage reading.

Year by year against peers
Whether SIGA Technologies, Inc.'s return on equity stayed above the median of the Drug Manufacturers - Specialty & Generic industry, year by year. (FY2020 to FY2025, 6 fiscal years of SIGA Technologies, Inc. with a comparable figure)
The direction
Which way SIGA Technologies, Inc.'s gross margin has moved, and how steadily. (FY2016 to FY2025, 10 filed years of SIGA Technologies, Inc.)
What could explain it
What in SIGA Technologies, Inc.'s filed statements could explain the movements. (10 readings drawn from the statement lines SIGA Technologies, Inc. filed)
What to check next
What to check next on SIGA Technologies, Inc., and where in its filings. (6 questions for SIGA Technologies, Inc.)
In one paragraph
One paragraph on SIGA Technologies, Inc.'s returns, cash, balance sheet and price. (15 of sixteen figures read for SIGA Technologies, Inc.)

These are SIGA’s filed figures. The research desk says what they mean, against peers and its own years, with what to check next.

Research SIGAPart of Serious. New accounts start with 30 days of Professional, free, no card.

2 of 10

What changed

The newest filing, what it moved, and when the next one is due.

SEC filingCompany statement

The newest accounts on file are the FY2025 annual report: 10-K, filed Mar 10, 2026, accession 0001437749-26-007557.

3 of 10

Quality

The returns the business earns on its capital, and the margins behind them.

SEC filingComputed

SIGA Technologies, Inc: returns on capital and margins, each with its source
FigureValue, source and document
Return on invested capital, after tax40.7% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Return on equity11.7% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Return on capital employed, pre-tax11.8% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Return on assets10.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Gross margin68.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Operating margin25.1% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Net margin24.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
SIGA 24.6%
SNDL -1.7%ORGO 6.6%OGI -28.4%DERM -18.5%LFCR -30.0%
-30.0%24.6%
Net margin: SIGA against the 5 companies named under Valuation context, each as filed for its own latest year. Placement only: no average is drawn.

4 of 10

Financial strength

What it owes against what it owns, and whether it can meet what falls due.

SEC filingComputedCompany statement

SIGA Technologies, Inc: leverage, liquidity and distress, each with its source
FigureValue, source and document
Debt to equity0.004 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Current ratio11.83 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Quick ratio9.10 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Interest coverage
Why n/a

No interest expense is filed for this year, so coverage is not computed.

n/a ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Altman Z-score8.05 ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Net debt-154.2M ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Total assets 219.5MTotal liabilities 20.6MShareholders' equity 198.8MOwnsOwes, and equity
Total assets Total liabilities Shareholders’ equity
The balance sheet, line by line

Financial health

What SIGA Technologies, Inc owned and owed at the end of fiscal 2025, from the balance sheet it filed (10-K, filed Mar 10, 2026, 0001437749-26-007557).

SIGA Technologies, Inc: balance sheet position
Total assets219.5M FiledFY2025 10-K, filed Mar 10, 2026
Total liabilities20.6M FiledFY2025 10-K, filed Mar 10, 2026
Shareholders' equity198.8M FiledFY2025 10-K, filed Mar 10, 2026
Cash155.0M FiledFY2025 10-K, filed Mar 10, 2026
Total debt795.2K FiledFY2025 10-K, filed Mar 10, 2026
Net debt-154.2M
Current ratio11.83
Debt to equity0.004
  • Interest cover: FY2025: No interest expense is filed for this year, so coverage is not computed.

Read from the filed balance sheet for each year, with the income statement of the same year supplying operating profit where a ratio needs it. Nothing here is a view on whether this company is sound.

5 of 10

Valuation context

What the market charges for it, against its own record and companies like it.

Market dataSEC filingComputed

SIGA Technologies, Inc: what the market charges, each with its source
FigureValue, source and document
Price to earnings9.39x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
P/E on trailing twelve months11.25x ComputedClose of Oct 14, 2026 · Trailing four quarters, each as known on the day; the quarterly filings are listed under Filings
Price to book1.12x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Price to sales2.36x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Enterprise value to EBIT2.90x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Enterprise value to EBITDA2.83x ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Price to earnings over growth
Why n/a

We do not hold this figure for this company, so there is nothing to show.

n/a ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Diluted earnings per share0.32 USD FiledFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Graham number4.53 USD ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557

We publish no fair value or price target of our own. Value SIGA on your own assumptions in the DCF workbench, starting from the filed figures.

Its own record, and companies like it

Valuation

What the market charges for SIGA Technologies, Inc today, and the multiples it has carried. No value of ours: the figures are the filings’ and the market’s.

SIGA Technologies, Inc: valuation
Share price3.10 USD
Market capitalisation222.3M USD
Enterprise value to EBITDA2.83x
Graham number4.53 USD
Diluted earnings per share, FY20250.32 USD

Price to earnings on trailing twelve months, a different basis from the fiscal-year P/E above, since Oct 3, 2016: low 0.92x, median 8.38x, high 109.71x, latest 11.25x. 1,753 trading days with a meaningful ratio, 767 more on a loss and left out. Each close over the trailing twelve months of earnings as known that day: a quarter counts from the day it was filed.

Companies like SIGA Technologies, Inc

  1. SNDL Inc. (SNDL)Market cap 299.3M USD
  2. Organogenesis Holdings Inc. (ORGO)Market cap 146.7M USD
  3. Organigram Global Inc. (OGI)Market cap 127.2M USD
  4. Journey Medical Corporation (DERM)Market cap 145.3M USD
  5. Lifecore Biomedical, Inc. (LFCR)Market cap 240.8M USD

Same industry (Drug Manufacturers - Specialty & Generic) and size band (Micro, 50M to 300M), nearest in market value, net margin and current ratio. Each of those counts equally, by how many of the companies considered sit between the two on it. Closest first: the order is likeness and nothing else.

6 of 10

Cash generation

Whether profit arrives as cash, and what is paid back to shareholders.

SEC filingComputed

SIGA Technologies, Inc: cash generation and what is paid out, each with its source
FigureValue, source and document
Free cash flow yield19.4% ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Free cash flow43.1M USD ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Free cash flow margin45.6% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Dividend yield19.4% ComputedClose of Oct 14, 2026 · FY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Payout ratio185.2% ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
FY2016 Free cash flow: -116.8M USDFY2016 Net income: -39.7M USDFY2017 Free cash flow: -18.5M USDFY2017 Net income: -36.2M USDFY2018 Free cash flow: 68.8M USDFY2018 Net income: 421.8M USDFY2019 Free cash flow: -18.2M USDFY2019 Net income: -7.2M USDFY2020 Free cash flow: 71.5M USDFY2020 Net income: 56.3M USDFY2021 Free cash flow: 11.4M USDFY2021 Net income: 69.5M USDFY2022 Free cash flow: 41.6M USDFY2022 Net income: 33.9M USDFY2023 Free cash flow: 94.8M USDFY2023 Net income: 68.1M USDFY2024 Free cash flow: 48.7M USDFY2024 Net income: 59.2M USDFY2025 Free cash flow: 43.1M USDFY2025 Net income: 23.3M USD
Free cash flow Net incomeProfit that arrives as cash stands level with net income; a gap year after year is worth reading about.

7 of 10

Filings

Every figure, the year it is for and the document it was read from.

SEC filingMarket data

The filed figures

Computed from the accounts this company filed with the SEC and, in a ratio with a price in it, the last close, dated on this page. Every filed figure below carries the fiscal year and the filing date its accounts were read from, and every blank carries the reason it is blank. Nothing here is a view on this company.

SIGA Technologies, Inc.: the eight ratios, with the fiscal year and filing date behind each.
FigureValueYearAs of
9.39xFY2025Oct 14, 2026
1.12xFY2025Oct 14, 2026
2.90xFY2025Oct 14, 2026
19.4%FY2025Oct 14, 2026
40.7%FY2025Mar 10, 2026
19.4%FY2025Oct 14, 2026
0.004FY2025Mar 10, 2026
11.83FY2025Mar 10, 2026
2.36xFY2025Oct 14, 2026
n/aFY2025Oct 14, 2026
n/a This figure compares a year against the one before it, and we hold one filed year for this company.
8.05FY2025Oct 14, 2026
-3.83FY2025Mar 10, 2026
5/9FY2025Mar 10, 2026

The figures are computed from the accounts for fiscal 2025, the newest full year on file. 16 filed fiscal years on record, FY2009 to FY2025, from SEC EDGAR. Prices as of Oct 14, 2026. Ratios recomputed Oct 14, 2026. Two facts, because a recompute is not a fresh quote.

The year and the filing date name the statement each figure’s accounts are read from, and they stand even where the figure itself could not be computed: the line beneath a blank says what that statement did not carry. A figure’s name opens its formula and the filings behind it; a statement that names no SEC filing has no filing date, and reads n/a.

Ten years of filed figures, year by year

Ten years of filed figures

10 filed fiscal years, FY2016 to FY2025, read from the annual reports SIGA Technologies, Inc filed with the SEC. Each year names its filing. Amounts in USD, as filed.

SIGA Technologies, Inc: revenue, earnings, free cash flow and returns, by fiscal year, with the filing each year was read from
YearRevenueOperating incomeNet incomeEPS, dilutedFree cash flowOperating marginReturn on equityFiling
FY202594.6M23.7M23.3M0.3243.1M25.1%11.7%10-K, Mar 10, 20260001437749-26-007557
FY2024138.7M70.0M59.2M0.8248.7M50.5%27.4%10-K, Mar 11, 20250001437749-25-007056
FY2023139.9M83.6M68.1M0.9594.8M59.8%34.6%10-K, Mar 12, 20240001437749-24-007487
FY2022110.8M42.7M33.9M0.4641.6M38.5%19.9%10-K, Mar 2, 20230001437749-23-005241
FY2021133.7M89.1M69.5M0.9111.4M66.7%39.8%10-K, Mar 3, 20220001437749-22-005179
FY2020125.0M84.5M56.3M0.7171.5M67.6%43.4%10-K, Mar 4, 20210001437749-21-005031
FY201926.7M-2.3M-7.2M-0.15-18.2M-8.7%-7.4%10-K, Mar 5, 20200001010086-20-000006
FY2018477.1M355.1M421.8M5.1868.8M74.4%409.9%10-K, Mar 6, 20190001010086-19-000007
FY201712.3M-18.8M-36.2M-0.46-18.5M-153.6%n/m10-K, Mar 6, 20180001010086-18-000003
FY201615.0M-31.0M-39.7M-0.69-116.8M-206.9%n/m10-K, Mar 7, 20170001010086-17-000005
  • Revenue, compound annual growth FY2016 to FY2025: 22.7%
  • Earnings: Earnings was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Earnings per share: Earnings per share was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.
  • Free cash flow: Free cash flow was not positive in both 2016 and 2025, so a compound rate across the window is not defined. Both figures are in the table.

Every figure in this section is a line of a filed annual statement or a ratio of two of them. Nothing here is estimated or smoothed. Earnings per share filed before a share split are put on today's share count, and say so. Nothing here is a verdict on the company.

8 of 10

Risks and guardrails

The accounting screens, the published tests, and the lines you can set to be told.

ComputedCompany statement

SIGA Technologies, Inc: accounting screens and published tests, each with its source
FigureValue, source and document
Beneish M-score-3.83 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Piotroski F-score5/9 ComputedFY2025 10-K, filed Mar 10, 2026, 0001437749-26-007557
Named tests met6 of 30 Computed
Beta1.28 ComputedClose of Oct 14, 2026

The named tests

Of 30 tests value investors published: 6 met, 22 not met, 2 we could not complete. Counts, never a score: a single figure would have to decide that meeting one investor’s criteria and meeting another’s are worth the same.

Which tests, by name(all 30)
Meets
Earnings yield and ROIC (Joel Greenblatt); ROIC at or above WACC; P/E times P/B (Benjamin Graham); Cash-covered dividend; Cash-flow yield and ROIC; Cheapest quarter on P/E (David Dreman)
Does not
Defensive investor (Benjamin Graham); Deep value; Large cap, low P/E; High F-score, low P/B (Joseph Piotroski); Three forensic scores; Low PEG, low debt (Peter Lynch); High returns and growth; Gross margin, turnover (Robert Novy-Marx); High yield, low payout; Dividends and buybacks; Low beta, profitable; Near the 52-week low; Two thirds of NCAV (Benjamin Graham); High returns, low debt; Owner earnings yield; High return on tangibles; Low P/S, rising earnings (James O'Shaughnessy); Book or below, low debt (Walter Schloss); Tangible book or below; Clean books, high ROIC; Cheapest quarter on P/B (David Dreman); Low P/E, growth, yield (John Neff)
Not measured
EV/EBITDA and coverage; Z-score and coverage (Edward Altman). A test with a figure we could not read is incomplete, never met and never failed.
Figures we could not read(2)
  • PEG Ratio: We do not hold this figure for this company, so there is nothing to show.
  • Interest Coverage: No interest expense is filed for this year, so coverage is not computed.

9 of 10

Declared positions

Whether anybody here owns this company.

Positions declared by Javier Sanz Alvarez: no holding in any company shown here, as of October 3, 2026.

10 of 10

Next step

What to do with what you have read.

A thesis is your reason for owning it, in your words, with the figures that must stay true. Checking those figures every night against the newest filed accounts, and telling you once when one breaks, is what the subscription adds.

More on this company

What this cannot tell you

  • 2 figures could not be read on this company: PEG Ratio, Interest Coverage. 2 named tests come back incomplete because of them, which is neither met nor missed.

And the one that is true of all of it: This is what the numbers say today. It cannot tell you the day one of them stops being true. Nothing here can, because the reasons are not written down.

Running this once is arithmetic on public documents and you are welcome to it. Writing down why you own each company, in your own words and with the numbers that have to stay true for it to hold, and then having those numbers re-checked every night against the newest filed accounts, and against the latest close where a rule watches a price, is Professional, the plan a new account starts on for 30 days, one trial per person. It writes to you the day one breaks, and stays quiet when nothing does. The check runs every night at 23:30 UTC. A filing is picked up the night after it is published.

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ValueScreener · valuescreener.ai · Computed from accounts filed with the SEC by this company, read from EDGAR, and from dated closing prices. On this page a filed figure opens into its formula, its inputs and the statement, fiscal year and filing date it was read from, and a price into the day of its close. A figure that cannot show that trail says so.

A computation on accounts filed with the SEC, not a recommendation and not advice. Past filings do not indicate future results. Risk disclaimer.

Once a week, what changed in the filings of US-listed companies, why it can matter to a thesis, and what deserves a closer review. Grounded in filings, not market noise.

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Risk disclaimer. This service is provided for research and education only. Nothing on it is investment advice, a recommendation, or an offer to buy or sell any security. Capital is at risk, and past performance does not indicate future results. Figures come from filed accounts and may be incomplete, delayed or later restated, so verify a number against the filing before you act on it.