DBV Technologies (DBV) AI Stock Analysis

• Market Cap: €763.63M
• Dividend Yield: N/A
• Average Volume (3M): 1.12M
• Price to Earnings (P/E): ―
• Beta (1Y): 0.70
• Revenue Growth: N/A
• EPS Growth: 3.09%
• Country: FR
• Employees: 106
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -0.04
• Shares Outstanding: 200,777,730
• 10 Day Avg. Volume: 2,165,856
• 30 Day Avg. Volume: 1,121,838
• PEG Ratio: >-0.01
• Price to Book (P/B): 2.31
• Price to Sales (P/S): 15.24
• P/FCF Ratio: -0.59
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: €6.00
• Price Target Upside: 57.89% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 52 Neutral
• Price Target: €4.00 ▲(5.26% Upside)

The score is held back primarily by weak financial performance (shrinking revenue, heavy losses, and ongoing cash burn). Technicals are a meaningful positive with an established uptrend and supportive momentum. Valuation remains constrained because profitability is negative (negative P/E) and no dividend yield is indicated.

Positive Factors

Proprietary EPIT platform

DBV’s epicutaneous immunotherapy (EPIT) patch platform is a durable strategic asset: it targets a clear clinical niche (food allergies) with a non-invasive delivery mechanism that can be extended to other allergens. Platform breadth supports long-term product pipeline optionality if clinical progress continues.

Low financial leverage

The company’s negligible reported debt materially reduces solvency and interest-rate risk, giving management financing flexibility. For a clinical-stage biotech burning cash, low leverage preserves strategic options for funding trials or partnerships without immediate debt servicing constraints.

Recent strong gross margin

Stronger recent gross margins indicate the company can achieve favorable manufacturing economics or pricing on its offerings. If sustained through commercialization, this improves the leverage of future revenue growth to profits and reduces the incremental cash required to scale product delivery.

Negative Factors

Sharp revenue decline

A near-50% TTM revenue contraction signals weak commercial traction or concentrated revenue sources. Falling top line makes it harder to cover fixed R&D and SG&A, slows pathway to sustainable margins, and increases dependence on external funding or strategic partnerships.

Persistent cash burn

Sustained negative operating and free cash flow of roughly -$98M TTM creates recurring external funding needs. Frequent financings can dilute shareholders, divert management attention, and constrain the company’s ability to invest selectively in late-stage trials or commercialization without securing new capital.

Deep net losses and equity erosion

Material and persistent net losses (TTM net margin ~-52%) are eroding shareholder equity and return metrics. Continued negative profitability reduces strategic flexibility, raises governance scrutiny, and heightens risk that future value creation will require clinical success or transformational partnerships.

DBV Technologies Business Overview & Revenue Model

Company Description

DBV Technologies S.A., a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its lead product candidate is Viaskin Peanut, an immunotherapy product, which has completed Phase III clinical trial for the treatment of peanut allergies in 4 to 11 years of age children, adolescents, and adults. The milk-induced company is also developing Viaskin Milk that is in Phase I/II clinical trial for the treatment of Immunoglobulin E (IgE) mediated cow's milk protein allergy (CMPA); Viaskin Egg, a pre-clinical stage product for the treatment of hen's egg allergy; and booster vaccine for Bordetella pertussis. Its other earlier stage research programs include a vaccine for the respiratory syncytial virus, as well as treatments for Crohn's disease, celiac disease, and type I diabetes. The company has a collaboration with Nestlé Health Science to develop MAG1C, a ready-to-use atopy patch test for the diagnosis of non-IgE mediated CMPA in infants and toddlers. DBV Technologies S.A. was incorporated in 2002 and is headquartered in Montrouge, France.

How the Company Makes Money

DBV Technologies generates revenue primarily through licensing agreements and collaborations with other pharmaceutical companies. These partnerships often involve upfront payments, milestone payments based on the achievement of specific clinical, regulatory, or commercial goals, and royalties on future product sales if the products are successfully brought to market. Additionally, as DBV Technologies is still in the clinical development stage for its lead product candidates, it may also receive funding through government grants, research subsidies, and potential investments from private investors to support its ongoing research and development efforts.

DBV Technologies Financial Statement Overview

Summary

Income statement and cash flow are very weak (sharp TTM revenue decline, deep net losses, and persistent negative operating/free cash flow), partially offset by a comparatively supportive balance sheet with low leverage and no reported total debt in the latest period.

Income Statement

TTM (Trailing-Twelve-Months) revenue fell sharply (-45.89%), extending a multi-year pattern of volatile/declining top-line performance. Profitability is very weak with deeply negative operating results and net losses (TTM net margin roughly -52%), indicating the cost base remains far larger than current revenue. A positive is that reported gross margin is strong in the most recent periods, but it has been inconsistent historically and is not translating into sustainable earnings.

Balance Sheet

Leverage appears manageable with very low debt burden in the latest period (TTM total debt reported at 0) and modest debt-to-equity levels over time, which reduces solvency risk. However, recurring large losses are pressuring shareholder equity (down meaningfully versus prior years) and returns on equity are strongly negative, highlighting ongoing value erosion if losses persist.

Cash Flow

Cash generation remains a key weakness: operating cash flow and free cash flow are consistently negative across all periods, including TTM (around -$98M free cash flow), implying ongoing external funding needs. While the latest free cash flow decline is less severe than prior years (positive free cash flow growth in TTM), cash burn is still substantial and not yet on a clear path to breakeven.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.26M	4.15M	15.73M	4.80M	5.71M	0.00
Gross Profit	-3.02M	4.15M	15.73M	-15.50M	-3.57M	-18.82M
EBITDA	-118.37M	0.00	-87.46M	-76.68M	-79.77M	-162.74M
Net Income	-124.99M	-113.92M	-72.73M	-96.30M	-97.81M	-195.68M
Balance Sheet
Total Assets	110.50M	65.66M	182.99M	246.50M	146.72M	333.87M
Cash, Cash Equivalents and Short-Term Investments	69.84M	32.46M	141.37M	209.20M	77.30M	240.80M
Total Debt	0.00	7.80M	6.55M	4.15M	9.74M	40.63M
Total Liabilities	57.64M	38.27M	42.80M	52.00M	47.45M	81.87M
Stockholders Equity	52.85M	27.39M	140.19M	194.50M	99.27M	252.01M
Cash Flow
Free Cash Flow	-98.30M	-106.81M	-80.33M	-56.45M	-109.16M	-206.48M
Operating Cash Flow	-98.26M	-104.47M	-79.65M	-55.70M	-108.24M	-203.10M
Investing Cash Flow	139.00K	-757.00K	-808.00K	-100.00K	-433.00K	-3.51M
Financing Cash Flow	117.80M	587.00K	6.77M	194.10M	274.00K	183.40M

DBV Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.80
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FR:DBV, the sentiment is Positive. The current price of 3.8 is above the 20-day moving average (MA) of 3.50, above the 50-day MA of 3.13, and above the 200-day MA of 2.18, indicating a bullish trend. The MACD of 0.25 indicates Negative momentum. The RSI at 57.22 is Neutral, neither overbought nor oversold. The STOCH value of 54.72 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FR:DBV.

DBV Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
ALSEN	55 Neutral	€180.21M	-3.74	-40.00%	―	―	10.87%
DBV	52 Neutral	€763.63M	-4.01	-241.12%	―	―	3.09%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
NANO	49 Neutral	€844.82M	―	―	―	―	―
OSE	49 Neutral	€106.59M	-3.00	-52.76%	―	-96.92%	-175.84%
IPH	47 Neutral	€145.08M	-2.82	-271.32%	―	-75.86%	-30.54%
TNG	43 Neutral	€248.16M	-3.26	―	―	111.76%	-22.45%