Delcath Systems (DCTH) AI Stock Analysis

• Market Cap: $355.26M
• Dividend Yield: N/A
• Average Volume (3M): 734.97K
• Price to Earnings (P/E): 1169.8
• Beta (1Y): 1.74
• Revenue Growth: 251.54%
• EPS Growth: N/A
• Country: US
• Employees: 96
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): 0.02
• Shares Outstanding: 35,313,717
• 10 Day Avg. Volume: 612,085
• 30 Day Avg. Volume: 734,969
• PEG Ratio: 0.19
• Price to Book (P/B): 4.99
• Price to Sales (P/S): 9.23
• P/FCF Ratio: -17.84
• Enterprise Value/Market Cap: 0.96
• Enterprise Value/Revenue: 4.30
• Enterprise Value/Gross Profit: 4.99
• Enterprise Value/Ebitda: 24.01
• 1Y Price Target: $24.00
• Price Target Upside: 138.57% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 6
• EPS Forecast (FY): 0.03
• Revenue Forecast (FY): $84.52M

• Rating: 64 Neutral
• Price Target: $10.50 ▲(4.37% Upside)

Delcath Systems shows strong financial performance with robust cash flow and minimal leverage. Positive clinical trial results and a share buyback plan enhance future prospects. However, the stock's high P/E ratio suggests overvaluation, and mixed technical indicators point to potential volatility. The earnings call provided a balanced view of growth opportunities and challenges.

Positive Factors

Strong Cash Position

A robust cash position provides financial flexibility, enabling Delcath to invest in growth opportunities and withstand economic uncertainties.

Positive Clinical Trial Results

Successful trial outcomes enhance Delcath's product credibility and market potential, supporting long-term revenue growth and competitive positioning.

High Gross Margins

Sustaining high gross margins indicates effective cost management, contributing to profitability and enabling reinvestment in business expansion.

Negative Factors

Increased Operating Expenses

Rising operating expenses can pressure margins and profitability, potentially limiting the company's ability to invest in growth initiatives.

Reduction in Revenue per Kit

Decreased revenue per kit could impact overall revenue growth and profitability, challenging Delcath's ability to maintain financial performance.

Decreased Net Income

A decline in net income indicates potential challenges in maintaining profitability, which could affect long-term financial health and investor confidence.

Delcath Systems Business Overview & Revenue Model

Company Description

Delcath Systems, Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for the treatment of cancer. The company specializes in a proprietary drug delivery system, known as the Delcath Hepatic Perfusion System, which is designed to deliver high doses of chemotherapy directly to the liver while minimizing systemic exposure. Delcath operates primarily in the oncology sector, targeting patients with liver cancers, including metastatic melanoma and other liver tumors.

How the Company Makes Money

Delcath Systems generates revenue primarily through the sale of its proprietary medical devices and associated consumables, which are essential for its Hepatic Perfusion System. The company also pursues partnerships with healthcare institutions and pharmaceutical companies to expand the reach of its technology and enhance its product offerings. In addition to device sales, Delcath may generate revenue through clinical trial collaborations and potential licensing agreements for its technology. As the company seeks to gain regulatory approvals and expand its market presence, successful commercialization of its products and therapies will be crucial to its financial performance.

Delcath Systems Financial Statement Overview

Summary

Delcath Systems shows significant financial improvement with strong gross profit margins and positive revenue growth. The balance sheet is solid with minimal leverage, and cash flow generation is robust. However, historical volatility in revenue and profitability metrics suggests potential risks.

Income Statement

Delcath Systems shows a strong gross profit margin of 87.92% in the TTM, indicating efficient cost management. The net profit margin has improved significantly to 3.25% from negative margins in previous years, reflecting a turnaround in profitability. Revenue growth is positive at 13.33% in the TTM, although it has fluctuated in past years. The EBIT and EBITDA margins have also turned positive, suggesting operational improvements.

Balance Sheet

The company has a very low debt-to-equity ratio of 0.009, indicating minimal leverage and financial risk. Return on equity has improved to 3.40% in the TTM, showing better utilization of equity. The equity ratio stands at 92.37%, reflecting a strong equity base relative to total assets, enhancing financial stability.

Cash Flow

Free cash flow growth is robust at 211.25% in the TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 0.46, suggesting moderate cash conversion efficiency. The free cash flow to net income ratio is 0.80, showing that a significant portion of earnings is being converted into free cash flow.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	79.60M	37.20M	2.06M	2.72M	3.56M	1.65M
Gross Profit	68.69M	31.02M	1.43M	2.03M	2.88M	1.01M
EBITDA	14.27M	-12.18M	-37.78M	-33.69M	-24.32M	-23.81M
Net Income	1.20M	-26.39M	-47.68M	-36.51M	-25.65M	-24.16M
Balance Sheet
Total Assets	124.30M	76.59M	38.61M	17.86M	33.12M	34.63M
Cash, Cash Equivalents and Short-Term Investments	88.91M	53.23M	32.45M	7.67M	22.80M	28.57M
Total Debt	965.00K	1.04M	10.19M	15.87M	16.25M	2.94M
Total Liabilities	9.45M	7.84M	22.84M	23.72M	21.17M	12.56M
Stockholders Equity	114.85M	68.75M	15.78M	-5.86M	11.95M	22.08M
Cash Flow
Free Cash Flow	12.04M	-19.24M	-31.31M	-25.16M	-22.75M	-23.65M
Operating Cash Flow	13.26M	-18.68M	-31.25M	-24.95M	-22.60M	-22.87M
Investing Cash Flow	-41.26M	-981.00K	-19.71M	-209.00K	-143.00K	-782.00K
Financing Cash Flow	61.38M	39.41M	51.78M	10.14M	20.82M	42.35M

Delcath Systems Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 10.06
• 50DMA: Positive
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For DCTH, the sentiment is Positive. The current price of 10.06 is above the 20-day moving average (MA) of 9.77, above the 50-day MA of 9.78, and below the 200-day MA of 11.83, indicating a neutral trend. The MACD of 0.16 indicates Negative momentum. The RSI at 55.90 is Neutral, neither overbought nor oversold. The STOCH value of 36.38 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for DCTH.

Delcath Systems Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
DCTH	64 Neutral	$355.26M	1,169.77	1.94%	―	251.54%	―
CLPT	59 Neutral	$422.43M	-17.19	-103.13%	―	12.83%	-19.53%
NNOX	54 Neutral	$190.65M	-3.38	-34.75%	―	15.19%	-3.32%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
SENS	45 Neutral	$251.28M	-3.60	-129.29%	―	31.94%	36.59%
TMCI	45 Neutral	$163.76M	―	-51.63%	―	7.90%	19.92%
SRDX	43 Neutral	―	―	-15.36%	―	-0.02%	-1196.44%

Delcath Systems Corporate Events

Delcath Systems Announces $25M Share Buyback Plan

On November 19, 2025, Delcath Systems, Inc.’s board of directors approved a share repurchase program, allowing the company to buy back up to $25 million of its common stock, contingent on market conditions. This strategic move could potentially enhance shareholder value and indicates the company’s confidence in its financial position and future prospects.

Delcath Systems Reports Positive CHOPIN Trial Results

On October 18, 2025, Delcath Systems announced the results of the CHOPIN Trial, which showed that the combination of their CHEMOSAT Hepatic Delivery System with immune checkpoint inhibitors significantly improved progression-free survival in patients with metastatic uveal melanoma compared to PHP alone. Additionally, Delcath reported preliminary third-quarter financial results, revealing a total revenue of approximately $20.5 million, a net income of $0.8 million, and positive cash flow, indicating a strong financial position with no debt as of September 30, 2025.