Reviewed listing: NASDAQ:DCTH · Analysis dated Nov 03, 2026
How does the company make money?
Delcath sells hospitals a device and the drug melphalan, which doctors use to direct chemotherapy specifically to the liver. The company earns revenue by selling these products for liver cancer treatments.
What supports the business?
Revenue grew significantly in 2025, and Delcath also sold more in the first half of 2026 than in the same period a year earlier. This shows that the treatment is already a growing business.
What could improve?
Delcath expects revenue of 104 to 108 million US dollars in 2026 and positive adjusted earnings before interest, taxes, depreciation, and amortization. The company excludes items including stock-based compensation; if the forecast is met and leads to lasting profit, the business could become stronger, but that is not certain.
How is the stock price assessed?
This assessment refers to the analysis and its quoted price shown here. It is not a live quote or a personal recommendation to buy.
At 14.29 US dollars, the stock looks expensive relative to the operating income reported so far. Delcath does expect higher revenue in 2026 and positive adjusted earnings before interest, taxes, depreciation, and amortization, but this forecast is not a promise and does not show how much profit will be left for shareholders.
What is the main risk?
In the first half of 2026, both operating income and cash flow from operations declined from the same period a year earlier, even though revenue increased. If this continues, less of the growth will translate into cash for the company and its shareholders.
What is the overall assessment?
Delcath is growing and expects higher revenue in 2026 as well as positive adjusted earnings before interest, taxes, depreciation, and amortization. However, in the first half, both operating income and cash flow from operations declined; at 14.29 US dollars, the price still does not look compelling relative to the company’s earnings power so far, and the forecast remains uncertain.
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