SIGA
SIGA Technologies, Inc.
SIGA's fundamentals are weak and it looks expensive: trading at 289x earnings, about 30 times its usual 9.6x. Its downside scenario is more than ten times its upside.
SIGA Fundamentals
| Metric | Status |
|---|---|
| Weak | |
| Under pressure | |
| Weak | |
| Strong |
SIGA's balance sheet is currently strong, but its revenue, profitability and cash flow are under pressure.
SIGA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.4x | $0.06 | -98% |
| Fair | 9.5x | $0.10 | -97% |
| Expensive | 16x | $0.16 | -94% |
| Current | 289x | $2.89 | — |
Historical ranges are pointers, not guarantees.
SIGA's PE is in its expensive range at 289x.
SIGA Forward outlook
There aren't enough analyst estimates for SIGA to show an outlook.
SIGA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | $0.01 | -99% |
| Q2 2026 | -$0.04 | -104% |
| Q1 2026 | $0.28 | -58% |
| Q4 2025 | $0.32 | -61% |
| Q3 2025 | $1.02 | -15% |
| Q2 2025 | $1.13 | -3.4% |
| Q1 2025 | $0.67 | -39% |
| Q4 2024 | $0.82 | -14% |
SIGA's earnings per share have fallen from their peak: $0.01 over the past year, against $1.44 in late 2022.
SIGA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.3M | -50% |
| Q2 2026 | $41M | -49% |
| Q1 2026 | $6.2M | -11% |
| Q4 2025 | $3.8M | -95% |
| Q3 2025 | $2.6M | -74% |
| Q2 2025 | $81.1M | +272% |
| Q1 2025 | $7M | -72% |
| Q4 2024 | $81.5M | -30% |
SIGA's revenue has slid since its 2023 peak: $1M last quarter, down 50% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -495% | -105 points |
| Q2 2026 | 34% | -22 points |
| Q1 2026 | -85% | -53 points |
| Q4 2025 | -250% | -320 points |
| Q3 2025 | -390% | -396 points |
| Q2 2025 | 56% | +51 points |
| Q1 2025 | -32% | -76 points |
| Q4 2024 | 70% | -8.6 points |
SIGA's operating margin was −495% last quarter, down 105 points from the same quarter a year ago, near the bottom of its range since 2019.
SIGA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | -$1.2M | +$8.9M |
| Q2 2026 | $15.2M | -76% |
| Q1 2026 | -$8.7M | -223% |
| Q4 2025 | -$16.9M | -130% |
| Q3 2025 | -$10.1M | -$2.7M |
| Q2 2025 | $63.1M | +960% |
| Q1 2025 | $7M | +$13.2M |
| Q4 2024 | $56.3M | -29% |
SIGA's free cash flow was −$12M over the past year, against $116M the year before.
SIGA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | -34.7K shares |
| 1 year | +0.3% | +244K shares |
| 3 years | +1.1% | +764K shares |
| 5 years | -4% | -3M shares |
| Available history | -13% | -10.3M shares |
SIGA has 72M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q4 2024 | — |
| Q3 2024 | — |
| Q2 2024 | — |
| Q1 2024 | — |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | $3.5M |
| Q1 2023 | $7.6M |
SIGA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q1 2026 | -6.9x | Net Cash |
| Q4 2025 | -6.4x | Net Cash |
| Q3 2025 | -1.9x | Net Cash |
| Q2 2025 | -1.8x | Net Cash |
| Q1 2025 | -2.9x | Net Cash |
| Q4 2024 | -2.2x | Net Cash |
| Q3 2024 | -0.9x | Net Cash |
| Q2 2024 | -1.0x | Net Cash |
SIGA has more cash than debt.
SIGA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 32.9 | Neutral |
| Stochastic | 21.2 | Neutral |
SIGA's weekly RSI is 33 (neutral) and its Stochastic is 21 (neutral).
SIGA PE vs Healthcare Sector
| Metric | SIGA | Sector median | Relative |
|---|---|---|---|
| PE | 289x | 26x | 1,018% above |
| PE % | 100 | 29 | 71 pts above |
SIGA is trading at 289x earnings, a 1018% premium to the Healthcare sector's median of 26x.
SIGA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $3.18 | 9.1% below |
| 20 week MA | $3.22 | 10% below |
| 50 week MA | $4.58 | 37% below |
| 100 week MA | $5.66 | 49% below |
| 200 week MA | $6.08 | 52% below |
SIGA is in a downtrend: it's below all five of its weekly moving averages, and 52% below its 200-week average.
SIGA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $4.79 | $7.34 | +53% |
| 2021 | $7.34 | $7.99 | +8.9% |
| 2022 | $7.99 | $7.76 | -2.9% |
| 2023 | $7.76 | $5.60 | -28% |
| 2024 | $5.60 | $5.93 | +5.9% |
| 2025 | $5.93 | $6.27 | +5.7% |
| 2026 YTD | $6.27 | $2.89 | -54% |
SIGA is down 54% so far in 2026, after finishing higher in four of the previous six years.