SIGA Technologies (SIGA) AI Stock Analysis

• Market Cap: $348.19M
• Dividend Yield: N/A
• Average Volume (3M): 461.52K
• Price to Earnings (P/E): 18.8
• Beta (1Y): 1.56
• Revenue Growth: -0.85%
• EPS Growth: -13.50%
• Country: US
• Employees: 46
• Sector: Healthcare
• Sector Strength: 45
• Industry: Drug Manufacturers - Specialty & Generic
• EPS (TTM): -0.08
• Shares Outstanding: 71,644,400
• 10 Day Avg. Volume: 376,632
• 30 Day Avg. Volume: 461,516
• PEG Ratio: -0.31
• Price to Book (P/B): <0.01
• Price to Sales (P/S): 4.62
• P/FCF Ratio: 8.98
• Enterprise Value/Market Cap: -445.06K
• Enterprise Value/Revenue: -1.64M
• Enterprise Value/Gross Profit: -2.39M
• Enterprise Value/Ebitda: -5.62M
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 1.7
• Revenue Forecast (FY): $226.55M

• Rating: 62 Neutral
• Price Target: $6.00 ▼(-11.37% Downside)
• Action: Downgraded Date: 03/11/26
• Date: Action: Downgraded 03/11/26

The score is supported primarily by solid underlying financial quality (no leverage, historically strong profitability, generally healthy cash generation) and a moderately positive earnings-call outlook (cash strength and 2026 order visibility). These positives are tempered by weak technicals (downtrend with negative momentum) and limited usable valuation inputs (P/E shown as 0.00 and no dividend yield).

Positive Factors

Conservative balance sheet

Near-zero debt and a conservative balance sheet materially lower financial risk and preserve strategic optionality. This durability helps SIGA fund manufacturing, fulfill government orders, support regulatory programs and weather procurement cyclicality without forced financing over the next several months.

Consistent cash generation

Positive operating and free cash flow historically—FCF that tracks net income—indicates earnings quality and internal funding capacity. Sustained cash generation supports working-capital needs, manufacturing readiness and R&D for label expansions even if revenue timing is uneven.

Government demand & order visibility

Established procurement relationships and visible government orders provide predictable pockets of demand and backlog support. As a medical countermeasure supplier, SIGA's strategic role in stockpiles underpins medium-term revenue opportunities and supports production planning and capacity utilization.

Negative Factors

Revenue volatility

Large year-to-year revenue swings reduce forecasting reliability and make margin and cash-flow trajectories uncertain. For a company reliant on discrete procurement events, volatile top-line performance can constrain reinvestment, hiring and longer-term planning over multiple quarters.

Concentration on lumpy government procurement

Heavy dependence on government procurement concentrates revenue risk: timing, funding cycles or policy shifts can materially alter deliveries. This structural concentration hampers steady commercial growth, leaves revenue exposed to political cycles and complicates capacity and cash-flow smoothing.

Regulatory and timing risks

Regulatory inquiries and external delays can postpone label expansions (PEP, pediatric) and international approvals, slowing addressable-market growth and postponing associated procurement decisions. Such timing risks have lasting effects on multi-quarter revenue and adoption curves.

SIGA Technologies Business Overview & Revenue Model

Company Description

SIGA Technologies, Inc., a commercial-stage pharmaceutical company, focuses on the health security and infectious disease markets in the United States. Its lead product is TPOXX, an oral formulation antiviral drug for the treatment of human smallpox disease caused by variola virus. SIGA Technologies, Inc. has a strategic partnership with Cipla Therapeutics to deliver sustained innovation and access to antibacterial drugs primarily against biothreats. The company was incorporated in 1995 and is headquartered in New York, New York.

How the Company Makes Money

SIGA makes money primarily by selling its antiviral TPOXX (tecovirimat) under procurement and supply arrangements, historically driven largely by government demand for national stockpiles and outbreak response. Key revenue streams include: (1) Product sales of TPOXX to government customers for strategic stockpiling and replenishment; these sales are typically order-based and can be lumpy depending on the timing, size, and funding of procurement cycles. (2) Product sales of TPOXX to other customers where applicable (e.g., ex-U.S. markets and non-government channels), subject to regulatory status and distribution arrangements; if specific customer mix by region/channel is not available from public sources in a given period, it is null. (3) Services/other revenue associated with supporting contracts (e.g., activities tied to fulfilling procurement agreements such as manufacturing readiness, stability programs, or other agreed work); if not separately disclosed in reported financials, it is null. Significant factors influencing earnings include the cadence of government contract awards and deliveries, public-health events that drive emergency demand, regulatory and policy decisions affecting eligible use, and manufacturing/supply chain execution to meet contracted deliveries. Significant partnerships or named counterparties beyond publicly disclosed procurement agencies are null.

SIGA Technologies Financial Statement Overview

Summary

Strong financial resilience with essentially no debt and historically high profitability, supported by generally solid cash conversion. The main offset is volatility: a sharp recent step-down in revenue and meaningful swings in cash flow and margins reduce predictability.

Income Statement

Profitability has historically been strong, with very high net margins in 2020–2024 (roughly 31%–52%) and solid operating profitability in those years. However, growth has been volatile: revenue swung from strong expansion (2023) to a sharp contraction in 2025 (annual revenue down ~45%), with margins also compressing materially versus prior years. Overall, the company shows strong earnings power but a less predictable revenue trajectory.

Balance Sheet

The balance sheet is conservatively positioned with essentially no debt (debt-to-equity near zero across years), which lowers financial risk and provides flexibility. Equity and assets appear to be sizable, supporting resilience through downturns. A key weakness is that returns on equity are inconsistent, and the latest period’s reported return on equity is extremely low, suggesting profitability may not be translating into strong shareholder returns in the most recent data.

Cash Flow

Cash generation is generally healthy: operating cash flow and free cash flow are positive across the periods provided, and free cash flow closely tracks net income (near 1.0), indicating earnings quality has been good. That said, cash flow growth is volatile, with a steep free cash flow decline in 2025 (down ~58%) and a prior year decline as well, pointing to potential lumpiness in cash conversion and/or working-capital swings.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	94.60M	138.72M	139.92M	110.78M	133.67M
Gross Profit	64.87M	107.43M	122.09M	100.34M	117.07M
EBITDA	24.26M	70.52M	84.16M	43.22M	89.62M
Net Income	23.30M	59.21M	68.07M	33.90M	69.45M
Balance Sheet
Total Assets	10.00T>	244.34M	254.35M	195.04M	214.73M
Cash, Cash Equivalents and Short-Term Investments	10.00T>	155.40M	150.15M	98.79M	103.14M
Total Debt	795.17K	546.82K	564.01K	528.17K	466.83K
Total Liabilities	20.65T	28.53M	57.49M	24.88M	40.41M
Stockholders Equity	10.00T>	215.80M	196.86M	170.16M	174.31M
Cash Flow
Free Cash Flow	48.72M	48.72M	94.78M	41.61M	11.44M
Operating Cash Flow	48.76M	48.76M	94.80M	41.61M	11.49M
Investing Cash Flow	-42.45K	-42.45K	-21.69K	0.00	-50.62K
Financing Cash Flow	-43.46M	-43.46M	-43.42M	-45.96M	-26.20M

SIGA Technologies Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 6.77
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SIGA, the sentiment is Negative. The current price of 6.77 is above the 20-day moving average (MA) of 6.04, above the 50-day MA of 6.44, and below the 200-day MA of 7.13, indicating a bearish trend. The MACD of -0.41 indicates Positive momentum. The RSI at 23.41 is Positive, neither overbought nor oversold. The STOCH value of 9.88 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SIGA.

SIGA Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SIGA	62 Neutral	$348.19M	18.78	―	―	-0.85%	-13.50%
EBS	53 Neutral	$414.17M	12.57	9.59%	―	-29.91%	―
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
ESPR	47 Neutral	$643.31M	―	5.62%	―	2.83%	13.61%
ORGO	47 Neutral	$308.74M	3.76	9.56%	―	2.24%	-67.56%
AQST	47 Neutral	$490.62M	-9.40	195.65%	―	-26.32%	-56.54%