DCTH
Delcath Systems, Inc.
DCTH's fundamentals are strong: revenue grew 38% and it turned 18% of its revenue into free cash flow, though its operating margin fell 2 points to 5.2%. At 134x earnings, it's trading below its usual 166x. Analysts expect earnings to recover and profitability to improve.
DCTH Fundamentals
| Metric | Status |
|---|---|
| Strong | |
| Healthy | |
| Strong | |
| Strong |
DCTH's revenue, profitability, cash flow and balance sheet are all currently healthy.
DCTH PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 117x | $18.66 | -13% |
| Current | 134x | $21.38 | — |
| Fair | 166x | $26.50 | +24% |
| Forward | 1,071x | $21.38 | — |
| Expensive | 1,435x | $230 | +974% |
Historical ranges are pointers, not guarantees.
DCTH's PE is in its cheap range at 134x. On analysts' estimates for next year's earnings, today's price would be 1071x, in its fair range.
DCTH Forward outlook
| Metric | Outlook |
|---|---|
| Strongly deteriorating | |
| Returning to profit | |
| Strong growth | |
| Strongly improving | |
| Limited | |
| High |
Analysts expect DCTH to return to profit, with revenue growing.
DCTH Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $0.02 | -88% |
| Q3 2026 | $0.16 | +167% |
| Q2 2026 | $0.01 | -90% |
| Q1 2026 | $0.01 | +$0.46 |
| Q4 2025 | $0.07 | +$1.00 |
| Q3 2025 | $0.06 | +$1.38 |
| Q2 2025 | $0.10 | +$2.62 |
| Q1 2025 | -$0.45 | +$2.17 |
| Q4 2024 | -$0.93 | +$2.01 |
DCTH earned $0.16 per share over the past year, up 167% from the year before.
DCTH Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $35.1M | +71% |
| Q2 2026 | $29.1M | +21% |
| Q1 2026 | $25M | +26% |
| Q4 2025 | $20.7M | +37% |
| Q3 2025 | $20.6M | +84% |
| Q2 2025 | $24.2M | +211% |
| Q1 2025 | $19.8M | +530% |
| Q4 2024 | $15.1M | +2701% |
DCTH's revenue has grown year over year every quarter since early 2024: $35M last quarter, up 71% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 20% | +22 points |
| Q2 2026 | 8.2% | -2.5 points |
| Q1 2026 | -6.5% | -9.8 points |
| Q4 2025 | -11% | -31 points |
| Q3 2025 | -1.9% | +9.3 points |
| Q2 2025 | 11% | +61 points |
| Q1 2025 | 3.3% | +331 points |
| Q4 2024 | 20% | +2117 points |
DCTH's operating margin was 20% last quarter, up 22 points from the same quarter a year ago, near the top of its range since 2023.
DCTH Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $6.9M | +60% |
| Q2 2026 | $5.2M | -24% |
| Q1 2026 | $287K | -86% |
| Q4 2025 | $7.7M | +$8.9M |
| Q3 2025 | $4.3M | +$8.2M |
| Q2 2025 | $6.9M | +$11.4M |
| Q1 2025 | $2.1M | +$11.7M |
| Q4 2024 | -$1.2M | +$7M |
DCTH has burned cash in most quarters: $20M over the past year, up 67% from the year before.
DCTH Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +3.2% | +1.3M shares |
| 1 year | +2.4% | +963K shares |
| 3 years | +229% | +28.6M shares |
| 5 years | +514% | +34.3M shares |
DCTH has 41M diluted shares, up 2.4% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | — |
| Q2 2026 | $11,000 |
| Q1 2026 | $3M |
DCTH Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -9.0x | Net Cash |
| Q4 2025 | -44.2x | Net Cash |
| Q3 2025 | -6.8x | Net Cash |
| Q2 2025 | -6.5x | Net Cash |
DCTH has more cash than debt.
DCTH Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 76.6 | Overbought |
| Stochastic | 60.2 | Neutral |
DCTH's weekly RSI is 77 (overbought) and its Stochastic is 60 (neutral).
DCTH PE vs Healthcare Sector
| Metric | DCTH | Sector median | Relative |
|---|---|---|---|
| PE | 134x | 26x | 417% above |
| PE % | 26 | 29 | 3 pts below |
DCTH is trading at 134x earnings, a 417% premium to the Healthcare sector's median of 26x.
DCTH Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $15.6 | 37% above |
| 20 week MA | $15.1 | 41% above |
| 50 week MA | $12.2 | 75% above |
| 100 week MA | $12.3 | 73% above |
| 200 week MA | $9.19 | 133% above |
DCTH is in an uptrend: it's above all five of its weekly moving averages, and 133% above its 200-week average.
DCTH Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $24.0 | $17.1 | -29% |
| 2021 | $17.1 | $8.45 | -51% |
| 2022 | $8.45 | $3.59 | -58% |
| 2023 | $3.59 | $4.16 | +16% |
| 2024 | $4.16 | $12.0 | +188% |
| 2025 | $12.0 | $10.3 | -14% |
| 2026 YTD | $10.3 | $21.4 | +108% |
DCTH's yearly returns have swung widely, from +188% in 2024 to −58% in 2022. It's up 108% so far in 2026.