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Cogent Biosciences (COGT) Financials

Cogent Biosciences logo
$32.68 -1.51 (-4.42%)
Closing price 05/15/2026 04:00 PM Eastern
Extended Trading
$32.48 -0.20 (-0.60%)
As of 05/15/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Cogent Biosciences

Annual Income Statements for Cogent Biosciences

This table shows Cogent Biosciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -26 -35 -32 -179 -72 -140 -192 -256 -329
Consolidated Net Income / (Loss)		 -25 -35 -32 -75 -72 -140 -192 -256 -329
Net Income / (Loss) Continuing Operations		 -25 -35 -32 -118 -73 -142 -192 -256 -329
Total Pre-Tax Income 		-25 -35 -32 -118 -73 -142 -192 -256 -329
Total Operating Income		 -26 -36 -32 -82 -76 -148 -208 -276 -333
Total Gross Profit		 8.36 9.73 22 7.87 0.00 0.00 0.00 0.00 0.00
Total Revenue		 8.36 9.73 22 7.87 0.00 0.00 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 35 46 55 133 76 148 208 276 333
Selling, General & Admin Expense		 4.68 7.45 11 17 20 26 34 43 64
Research & Development Expense		 30 38 44 26 56 122 174 233 270
Total Other Income / (Expense), net		 0.66 1.47 0.35 7.39 3.28 7.60 16 20 4.43
Interest Expense		 - - - - - - 0.00 0.00 10
Interest & Investment Income		 0.39 1.15 0.27 0.14 0.47 3.99 13 18 15
Other Income / (Expense), net		 0.27 0.32 0.08 7.25 2.47 2.25 2.64 1.99 -0.02
Basic Earnings per Share		 ($2.51) ($1.39) ($4.18) ($16.17) ($1.87) ($433.56) ($1.94) ($2,426.26) ($2,696.92)
Weighted Average Basic Shares Outstanding		 10.19M 24.90M 7.62M 11.08M 38.73M 58.83M 79.66M 103.94M 128.97M
Diluted Earnings per Share		 ($2.51) ($1.39) ($4.18) ($16.17) ($1.87) ($433.56) ($1.94) ($2,426.26) ($2,696.92)
Weighted Average Diluted Shares Outstanding		 10.19M 24.90M 7.62M 11.08M 38.73M 58.83M 79.66M 103.94M 128.97M
Weighted Average Basic & Diluted Shares Outstanding		 10.19M 24.90M 7.62M 11.08M 38.73M 69.95M 103.91M 113.85M 162.31M

Quarterly Income Statements for Cogent Biosciences

This table shows Cogent Biosciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -55 -54 -58 -59 -71 -68 -72 -74 -81 -102 -97
Consolidated Net Income / (Loss)		 -55 -54 -58 -59 -71 -68 -72 -74 -81 -102 -97
Net Income / (Loss) Continuing Operations		 -55 -56 -58 -59 -71 -68 -72 -73 -81 -103 -97
Total Pre-Tax Income 		-55 -56 -58 -59 -71 -68 -72 -73 -81 -103 -97
Total Operating Income		 -60 -58 -62 -64 -75 -74 -75 -76 -83 -99 -104
Total Gross Profit		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 60 58 62 64 75 74 75 76 83 99 104
Selling, General & Admin Expense		 9.45 9.51 9.70 10 12 12 12 13 14 24 28
Research & Development Expense		 50 49 53 54 64 62 63 62 69 76 75
Total Other Income / (Expense), net		 4.20 3.86 4.06 5.44 4.78 5.81 2.95 2.05 2.43 -3.00 6.26
Interest Expense		 - - - - - - 0.00 - 1.46 - 1.21
Interest & Investment Income		 4.20 3.87 4.06 5.39 4.78 3.86 2.95 2.37 3.89 5.48 7.61
Other Income / (Expense), net		 0.00 -1.71 -0.00 0.04 0.00 1.95 -0.01 -0.01 -0.00 -0.01 -0.14
Basic Earnings per Share		 ($0.64) ($486.39) ($607.97) ($540.34) ($651.92) ($2,424.41) ($656.64) ($665.37) ($0.50) ($1,374.41) ($663.45)
Weighted Average Basic Shares Outstanding		 86.17M 79.74M 94.89M 99.33M 110.25M 103.94M 113.38M 114.54M 137.55M 128.97M 162.27M
Diluted Earnings per Share		 ($0.64) ($486.39) ($607.97) ($540.34) ($651.92) ($2,424.41) ($656.64) ($665.37) ($0.50) ($1,374.41) ($663.45)
Weighted Average Diluted Shares Outstanding		 86.17M 79.74M 94.89M 99.33M 110.25M 103.94M 113.38M 114.54M 137.55M 128.97M 162.27M
Weighted Average Basic & Diluted Shares Outstanding		 86.12M 103.91M 95.61M 109.45M 110.46M 113.85M 113.86M 139.70M 142.38M 162.31M 170.87M

Annual Cash Flow Statements for Cogent Biosciences

This table details how cash moves in and out of Cogent Biosciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -13 27 -18 205 -23 -80 -88 45 214
Net Cash From Operating Activities		 -26 -32 -42 -36 -59 -119 -154 -208 -264
Net Cash From Continuing Operating Activities		 -26 -32 -42 -36 -59 -119 -154 -208 -264
Net Income / (Loss) Continuing Operations		 -25 -35 -32 -75 -72 -140 -192 -256 -329
Consolidated Net Income / (Loss)		 -25 -35 -32 -75 -72 -140 -192 -256 -329
Depreciation Expense		 1.17 1.32 1.29 0.72 0.15 0.84 2.27 2.45 2.56
Amortization Expense		 0.02 -0.25 -0.05 - 1.84 3.40 -3.86 -5.72 0.66
Non-Cash Adjustments To Reconcile Net Income		 1.35 3.12 3.06 43 12 18 31 40 53
Changes in Operating Assets and Liabilities, net		 -2.88 -2.15 -14 -4.96 -0.17 -0.61 9.74 12 8.01
Net Cash From Investing Activities		 14 -11 23 8.42 -1.72 -125 -98 38 -400
Net Cash From Continuing Investing Activities		 14 -11 23 8.42 -1.72 -125 -98 38 -400
Purchase of Property, Plant & Equipment		 -0.91 -0.55 - 0.00 -1.72 -6.86 -2.80 -0.57 -1.55
Purchase of Investments		 -6.50 -48 - - 0.00 -178 -349 -256 -687
Sale and/or Maturity of Investments		 21 38 23 - 0.00 60 254 294 289
Net Cash From Financing Activities		 -0.73 70 0.11 232 38 164 164 214 878
Net Cash From Continuing Financing Activities		 -0.73 70 0.11 232 38 164 164 214 878
Repayment of Debt		 - - - - - - 0.00 0.00 166
Repurchase of Preferred Equity		 - - - - - - - - 0.00
Issuance of Debt		 - - - - - - 0.00 0.00 49
Issuance of Common Equity		 0.06 72 0.00 133 38 162 163 214 700
Other Financing Activities, net		 - - 0.11 0.51 -0.06 1.26 0.97 0.20 -37
Cash Interest Paid		 - - - - - - 0.00 0.00 2.02

Quarterly Cash Flow Statements for Cogent Biosciences

This table details how cash moves in and out of Cogent Biosciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -128 -34 163 -128 8.83 1.12 28 1.60 -1.97 187 -71
Net Cash From Operating Activities		 -38 -44 -53 -43 -52 -61 -67 -55 -64 -79 -87
Net Cash From Continuing Operating Activities		 -38 -44 -53 -43 -52 -61 -67 -55 -64 -79 -87
Net Income / (Loss) Continuing Operations		 -55 -54 -58 -59 -71 -68 -72 -74 -81 -102 -97
Consolidated Net Income / (Loss)		 -55 -54 -58 -59 -71 -68 -72 -74 -81 -102 -97
Depreciation Expense		 0.58 0.60 0.60 0.61 0.62 0.63 0.64 0.66 0.64 0.63 0.63
Amortization Expense		 1.18 -5.42 -0.93 3.06 -5.72 -2.12 -0.46 0.78 0.64 -0.31 -0.37
Non-Cash Adjustments To Reconcile Net Income		 8.76 8.06 9.39 10 10 9.98 10 9.72 11 23 17
Changes in Operating Assets and Liabilities, net		 6.89 7.44 -3.24 2.58 13 -1.13 -4.72 7.84 4.76 0.13 -6.83
Net Cash From Investing Activities		 -91 10 1.04 -85 60 62 69 8.91 -155 -323 -36
Net Cash From Continuing Investing Activities		 -91 10 1.04 -85 60 62 69 8.91 -155 -323 -36
Purchase of Property, Plant & Equipment		 -0.12 -0.32 -0.07 -0.15 -0.28 -0.08 -0.55 -0.13 -0.07 -0.81 -0.45
Purchase of Investments		 -112 -51 -73 -150 -19 -13 0.00 -68 -224 -395 -134
Sale and/or Maturity of Investments		 22 62 74 66 80 74 70 77 69 73 98
Net Cash From Financing Activities		 1.00 - 214 -0.26 0.62 0.03 25 47 217 589 53
Net Cash From Continuing Financing Activities		 1.00 - 214 -0.26 0.62 0.03 25 47 217 589 53
Issuance of Common Equity		 0.27 - 214 -0.37 0.56 -0.00 25 - 217 459 47
Other Financing Activities, net		 0.73 - 0.00 0.11 0.06 0.03 0.14 0.01 1.04 -39 5.76

Annual Balance Sheets for Cogent Biosciences

This table presents Cogent Biosciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 49 86 49 251 232 301 313 328 938
Total Current Assets		 42 81 41 245 223 265 271 296 910
Cash & Equivalents		 28 56 37 242 220 140 53 98 312
Short-Term Investments		 13 23 - - 0.00 119 212 189 589
Prepaid Expenses		 0.51 0.74 1.17 2.72 2.95 4.44 5.06 9.40 9.59
Plant, Property, & Equipment, net		 4.11 3.25 1.87 0.13 1.71 7.78 8.34 6.47 5.46
Total Noncurrent Assets		 2.63 1.67 6.97 5.87 7.75 28 34 25 22
Long-Term Investments		 - - - - - 0.00 7.46 0.00 0.00
Other Noncurrent Operating Assets		 2.63 1.67 6.97 5.87 7.75 28 27 25 22
Total Liabilities & Shareholders' Equity		 49 86 49 251 232 301 313 328 938
Total Liabilities		 21 26 18 16 18 45 56 72 301
Total Current Liabilities		 11 25 13 13 17 27 38 56 64
Accounts Payable		 1.35 1.52 3.18 0.73 3.48 5.84 11 12 9.50
Accrued Expenses		 2.95 5.48 7.13 4.78 8.21 18 26 42 53
Other Current Liabilities		 - - 1.62 7.58 5.38 3.12 1.39 1.57 1.55
Total Noncurrent Liabilities		 9.62 0.75 4.41 3.16 0.83 18 17 16 237
Long-Term Debt		 - - - - - - - 0.00 223
Other Noncurrent Operating Liabilities		 - - 4.41 3.16 0.83 18 17 16 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -49 60 32 235 214 256 258 256 636
Total Preferred & Common Equity		 -49 60 32 235 214 256 258 256 636
Preferred Stock		 0.00 0.00 0.00 111 85 66 60 111 89
Total Common Equity		 -49 60 32 124 129 190 198 146 547
Common Stock		 2.51 152 156 322 400 601 801 1,005 1,735
Retained Earnings		 -51 -92 -124 -199 -271 -411 -604 -859 -1,188
Accumulated Other Comprehensive Income / (Loss)		 -0.02 -0.01 - - 0.00 -0.10 0.25 0.45 0.36

Quarterly Balance Sheets for Cogent Biosciences

This table presents Cogent Biosciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 3/31/2023 6/30/2023 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 332 263 392 355 476 430 384 284 275 426 903
Total Current Assets		 296 226 335 286 442 370 342 253 245 397 878
Cash & Equivalents		 141 161 214 87 216 88 97 126 128 125 241
Short-Term Investments		 149 60 115 192 220 275 238 120 110 266 625
Prepaid Expenses		 6.07 4.75 5.12 6.91 6.16 6.76 6.01 7.22 7.16 6.35 11
Plant, Property, & Equipment, net		 6.54 9.03 9.10 8.64 7.82 7.36 7.02 6.45 5.85 5.27 5.30
Total Noncurrent Assets		 29 28 49 61 26 53 35 24 24 23 20
Long-Term Investments		 - - 22 34 0.00 27 10 0.00 0.00 0.00 0.00
Other Noncurrent Operating Assets		 29 28 27 27 26 26 25 24 24 23 20
Total Liabilities & Shareholders' Equity		 332 263 392 355 476 430 384 284 275 426 903
Total Liabilities		 42 40 44 53 54 57 69 65 120 123 295
Total Current Liabilities		 24 21 26 35 37 40 53 49 58 62 58
Accounts Payable		 4.09 4.17 7.16 9.87 16 8.98 15 14 17 16 14
Accrued Expenses		 14 16 17 24 20 30 36 34 40 45 43
Other Current Liabilities		 5.07 0.95 1.18 1.34 1.43 1.48 1.52 1.61 1.66 1.71 1.38
Total Noncurrent Liabilities		 18 19 18 18 17 17 16 15 61 61 237
Long-Term Debt		 - - - - - - - - 44 44 223
Other Noncurrent Operating Liabilities		 18 19 18 18 17 17 16 15 17 17 14
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 290 224 348 303 422 373 315 219 155 302 608
Total Preferred & Common Equity		 290 224 348 303 422 373 315 219 155 302 608
Preferred Stock		 66 62 62 60 222 114 111 108 108 108 65
Total Common Equity		 224 161 286 243 200 259 204 111 47 195 543
Common Stock		 596 611 780 792 862 980 995 1,042 1,052 1,280 1,829
Retained Earnings		 -372 -450 -494 -549 -662 -721 -792 -931 -1,005 -1,086 -1,286
Accumulated Other Comprehensive Income / (Loss)		 -0.16 0.02 -0.10 -0.17 -0.04 -0.19 0.90 0.16 0.01 0.21 -0.42

Annual Metrics And Ratios for Cogent Biosciences

This table displays calculated financial ratios and metrics derived from Cogent Biosciences' official financial filings.

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 16.44% 131.14% -65.02% -100.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -40.18% 10.84% -140.54% 4.23% -98.83% -48.63% -31.95% -19.10%
EBIT Growth		 0.00% -37.90% 10.05% -133.50% 2.49% -99.21% -42.31% -32.22% -21.70%
NOPAT Growth		 0.00% -37.68% 10.63% -155.45% 8.09% -95.68% -40.78% -32.58% -20.81%
Net Income Growth		 0.00% -35.46% 7.82% -135.00% 3.39% -94.04% -37.20% -32.98% -28.56%
EPS Growth		 0.00% 44.62% 7.82% -286.84% 88.44% -23,085.03% -12.60% -397.01% -11.16%
Operating Cash Flow Growth		 0.00% -25.76% -27.78% 13.64% -63.91% -101.89% -29.49% -35.26% -27.26%
Free Cash Flow Firm Growth		 0.00% 0.00% -79.94% -58.08% 1.38% -89.75% -29.68% -31.54% -25.27%
Invested Capital Growth		 0.00% -44.21% 69.16% -32.87% 26.89% 12.80% -220.43% -100.36% -34.78%
Revenue Q/Q Growth		 0.00% 20.89% 104.24% -66.01% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% -7.03% 26.93% -10.00% -20.43% -15.07% -11.36% -3.17% -8.51%
EBIT Q/Q Growth		 0.00% -6.65% 26.07% -9.41% -23.60% -13.86% -8.85% -4.52% -9.07%
NOPAT Q/Q Growth		 0.00% -6.27% 25.89% -19.99% -23.11% -13.96% -7.48% -5.95% -8.37%
Net Income Q/Q Growth		 0.00% -5.87% 25.51% -22.29% -23.12% -11.71% -8.30% -5.60% -11.74%
EPS Q/Q Growth		 0.00% -27.52% 25.51% -121.81% 51.17% -23,986.67% -23,597.57% -97,340.16% -38.41%
Operating Cash Flow Q/Q Growth		 0.00% -8.35% 1.37% -2.64% -24.10% -7.85% -10.55% -8.63% -7.53%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -7.63% -7.39% -8.37% -8.47% -7.22% -10.15% -10.20%
Invested Capital Q/Q Growth		 0.00% 6.27% 67.19% 43.70% 2.65% -1,078.38% -54.65% 0.32% 6.06%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 100.00% 100.00% 100.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 -295.33% -355.56% -137.16% -943.11% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 -312.82% -369.89% -143.02% -1,044.33% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 -309.55% -366.60% -142.67% -952.26% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 -304.93% -354.76% -141.49% -950.43% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 63.41% 99.53% 99.04% 99.12% 100.00% 100.00%
Interest Burden Percent		 98.51% 96.77% 99.17% 157.39% 99.36% 97.26% 93.69% 93.40% 98.67%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -90.06% -78.00% -69.21% -56.16% -32.20% -59.69% -74.94% -99.54% -73.70%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -52.69% -52.85% -47.43% -49.91% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 -51.90% -51.14% -47.04% -49.82% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 155.42% -10.03% -69.21% -32.79% -18.12% -40.48% -56.57% -66.50% -57.19%
Return on Equity Simple (ROE_SIMPLE)		 52.19% -57.33% -100.22% -31.88% -33.74% -54.84% -74.63% -99.83% 0.00%
Net Operating Profit after Tax (NOPAT)		 -18 -25 -23 -58 -53 -103 -146 -193 -233
NOPAT Margin		 -218.98% -258.92% -100.11% -731.03% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -17.51% -15.60% -16.05% -12.35% -8.40% -15.31% -17.51% -22.38% -19.81%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - -40.47% -56.51% -75.37% -27.16%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 55.98% 76.58% 48.75% 221.34% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 356.84% 393.31% 194.27% 327.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 412.82% 469.89% 243.02% 1,692.67% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -26 -36 -32 -75 -73 -146 -207 -274 -333
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -25 -35 -31 -74 -71 -141 -210 -277 -330
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 2.19 0.70 0.26 2.66 4.25 2.56 5.91 9.25
Price to Tangible Book Value (P/TBV)		 0.00 2.19 0.70 0.26 2.66 4.25 2.56 5.91 9.25
Price to Revenue (P/Rev)		 8.28 13.56 0.98 4.05 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 12.60 5.48 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.35
Financial Leverage		 -1.45 -1.35 -1.26 -1.05 -1.03 -1.02 -1.04 -1.09 -1.08
Leverage Ratio		 1.74 1.53 1.47 1.13 1.08 1.13 1.20 1.25 1.42
Compound Leverage Factor		 1.71 1.48 1.46 1.77 1.07 1.10 1.12 1.17 1.40
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.94%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 25.94%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 47.25% 39.87% 25.74% 23.29% 43.15% 10.40%
Noncontrolling Interests to Total Capital		 272.57% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -172.57% 100.00% 100.00% 52.75% 60.13% 74.26% 76.71% 56.85% 63.66%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.68
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.05
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.68
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.96
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.90
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.96
Altman Z-Score		 -0.27 1.11 -3.78 0.22 9.85 8.19 1.47 1.67 8.21
Noncontrolling Interest Sharing Ratio		 272.57% 87.14% 0.00% 41.62% 43.73% 32.18% 24.51% 33.19% 22.40%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 3.79 3.25 3.06 18.70 13.04 9.87 7.09 5.32 14.23
Quick Ratio		 3.73 3.22 2.98 18.50 12.86 9.66 6.96 5.15 14.08
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -20 -35 -56 -55 -104 -135 -178 -223
Operating Cash Flow to CapEx		 -2,832.79% -5,917.85% 0.00% 0.00% -3,418.44% -1,728.66% -5,494.42% -36,263.70% -17,016.99%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -21.74
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -25.82
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -25.97
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.17 0.14 0.33 0.05 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 10.07 7.79 12.27 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 2.04 2.65 8.80 7.87 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 36.24 46.83 29.75 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 36.24 46.83 29.75 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -13 -18 -5.66 -7.52 -5.50 -4.80 -15 -31 -41
Invested Capital Turnover		 -0.66 -0.63 -1.87 -1.19 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -5.63 13 -1.86 2.02 0.70 -11 -15 -11
Enterprise Value (EV)		 105 53 -15 -99 208 613 293 685 4,469
Market Capitalization		 69 132 22 32 342 808 506 862 5,057
Book Value per Share		 ($4.79) $2.01 $1.04 $10.91 $3.23 $2.72 $2.30 $1.32 $3.84
Tangible Book Value per Share		 ($4.79) $2.01 $1.04 $10.91 $3.23 $2.72 $2.30 $1.32 $3.84
Total Capital		 28 60 32 235 214 256 258 256 859
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 223
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 223
Net Debt		 -41 -79 -37 -242 -220 -261 -273 -287 -678
Capital Expenditures (CapEx)		 0.91 0.55 -0.24 -0.32 1.72 6.86 2.80 0.57 1.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -9.85 -23 -10 -10 -14 -22 -33 -46 -54
Debt-free Net Working Capital (DFNWC)		 31 56 27 232 206 238 233 241 846
Net Working Capital (NWC)		 31 56 27 232 206 238 233 241 846
Net Nonoperating Expense (NNE)		 7.19 9.33 9.31 17 19 37 47 63 96
Net Nonoperating Obligations (NNO)		 -41 -79 -37 -242 -220 -261 -273 -287 -678
Total Depreciation and Amortization (D&A)		 1.19 1.08 1.24 0.72 1.99 4.24 -2.90 -3.27 3.22
Debt-free, Cash-free Net Working Capital to Revenue		 -117.79% -231.53% -44.81% -131.77% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 373.07% 575.89% 121.53% 2,945.22% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 373.07% 575.89% 121.53% 2,945.22% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($10.04) ($5.56) ($4.16) ($16.17) ($1.87) ($2.39) ($2.42) ($2,426.26) ($2,696.92)
Adjusted Weighted Average Basic Shares Outstanding		 2.55M 7.52M 7.65M 37.19M 45.81M 58.74M 79.66M 103.94M 128.97M
Adjusted Diluted Earnings per Share		 ($10.04) ($5.56) ($4.16) ($16.17) ($1.87) ($2.39) ($2.42) ($2,426.26) ($2,696.92)
Adjusted Weighted Average Diluted Shares Outstanding		 2.55M 7.52M 7.65M 37.19M 45.81M 58.74M 79.66M 103.94M 128.97M
Adjusted Basic & Diluted Earnings per Share		 ($10.04) ($5.56) ($4.16) ($16.17) ($1.87) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 2.55M 6.22M 7.62M 11.08M 38.73M 69.95M 103.91M 113.85M 162.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -25 -23 -58 -53 -103 -146 -193 -233
Normalized NOPAT Margin		 -218.98% -258.92% -100.11% -731.03% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 -304.93% -354.76% -141.49% -1,498.77% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -32.55
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -22.78
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -32.70
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -22.93
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 -3.10% -5.95% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for Cogent Biosciences

This table displays calculated financial ratios and metrics derived from Cogent Biosciences' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 162,308,820.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 162,308,820.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.60
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -73.59% -49.45% -52.36% -30.96% -39.26% -13.16% -19.16% -22.20% -1.94% -35.33% -38.44%
EBIT Growth		 -62.96% -39.10% -52.75% -37.44% -26.57% -19.77% -20.08% -17.48% -10.54% -38.61% -38.44%
NOPAT Growth		 -61.81% -33.11% -44.33% -36.75% -26.58% -26.63% -20.08% -17.39% -10.53% -34.94% -38.27%
Net Income Growth		 -57.95% -37.22% -51.21% -33.75% -27.54% -24.95% -23.37% -24.73% -14.58% -50.89% -35.24%
EPS Growth		 -28.00% -72,495.52% -12.73% 0.00% 0.00% -398.45% -8.01% -23.14% 99.92% -119.54% -1.04%
Operating Cash Flow Growth		 -10.25% -49.86% -32.93% -33.17% -36.90% -37.46% -26.62% -27.73% -23.67% -30.59% -30.63%
Free Cash Flow Firm Growth		 -3.73% 3.63% 20.46% 18.56% 1.05% -19.89% -38.82% 0.48% -41.53% -62.85% -62.47%
Invested Capital Growth		 -2,341.52% -220.43% -755.87% -571.81% -210.85% -100.36% -98.91% -132.98% -43.02% -34.78% -33.17%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 -24.77% -12.01% 3.13% 3.27% -32.69% 8.98% -2.01% 0.81% -10.69% -20.83% -4.35%
EBIT Q/Q Growth		 -27.26% -0.60% -4.12% -3.11% -17.20% 4.81% -4.39% -0.87% -10.28% -19.36% -4.27%
NOPAT Q/Q Growth		 -26.54% 2.27% -7.17% -3.18% -17.13% 2.23% -1.63% -0.87% -10.28% -19.36% -4.14%
Net Income Q/Q Growth		 -25.65% 1.84% -7.33% -1.03% -19.82% 3.83% -5.98% -2.14% -10.07% -26.64% 5.02%
EPS Q/Q Growth		 -8.47% -75,898.44% 3.13% 4.84% -8.47% -378,714.06% 72.92% -1.33% 99.92% -274,782.00% 51.73%
Operating Cash Flow Q/Q Growth		 -18.42% -16.06% -19.19% 18.71% -21.74% -16.53% -9.80% 18.00% -17.87% -23.05% -9.83%
Free Cash Flow Firm Q/Q Growth		 15.12% 6.18% 6.48% -9.35% -3.13% -13.67% -8.30% 21.61% -46.66% -30.79% -8.05%
Invested Capital Q/Q Growth		 -300.20% -54.65% 12.77% -24.43% -85.17% 0.32% 13.40% -45.74% -13.67% 6.06% 14.43%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 96.97% 100.00% 100.00% 100.00% 100.00% 100.00% 100.43% 100.00% 99.69% 100.00%
Interest Burden Percent		 92.95% 93.54% 93.50% 91.62% 93.66% 94.62% 96.06% 96.86% 97.09% 103.32% 93.84%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -59.94% -74.94% -65.70% -62.92% -78.47% -99.54% -84.04% -107.55% -95.40% -73.70% -85.72%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 -47.21% -56.57% -36.76% -47.54% -56.79% -66.50% -40.76% -62.35% -61.62% -57.19% -67.79%
Return on Equity Simple (ROE_SIMPLE)		 -58.65% 0.00% -50.24% -60.83% -77.00% 0.00% -123.06% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -42 -41 -44 -45 -53 -52 -52 -53 -58 -70 -73
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -4.53% -5.10% -4.46% -3.75% -5.42% -5.82% -5.73% -7.06% -6.52% -6.81% -5.59%
Return On Investment Capital (ROIC_SIMPLE)		 - -15.81% - - - -20.14% -23.95% -26.59% -16.83% -8.11% -8.73%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings before Interest and Taxes (EBIT)		 -60 -60 -62 -64 -75 -72 -75 -76 -83 -99 -104
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -58 -65 -63 -61 -81 -73 -75 -74 -82 -99 -103
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 3.43 2.56 2.89 3.11 5.79 5.91 6.15 17.35 10.31 9.25 11.51
Price to Tangible Book Value (P/TBV)		 3.43 2.56 2.89 3.11 5.79 5.91 6.15 17.35 10.31 9.25 11.51
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.15 0.35 0.37
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.28 0.15 0.35 0.37
Financial Leverage		 -1.02 -1.04 -1.02 -1.03 -1.07 -1.09 -1.06 -1.11 -1.12 -1.08 -1.08
Leverage Ratio		 1.16 1.20 1.14 1.14 1.20 1.25 1.18 1.33 1.31 1.42 1.44
Compound Leverage Factor		 1.08 1.12 1.07 1.04 1.12 1.18 1.14 1.29 1.27 1.46 1.35
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22.09% 12.76% 25.94% 26.86%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 22.09% 12.76% 25.94% 26.86%
Preferred Equity to Total Capital		 19.82% 23.29% 52.60% 30.58% 35.15% 43.15% 49.39% 54.23% 31.13% 10.40% 7.79%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 80.18% 76.71% 47.40% 69.42% 64.85% 56.85% 50.61% 23.68% 56.11% 63.66% 65.35%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.15 -0.15 -0.68 -0.62
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.64 1.14 2.05 1.79
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.15 -0.15 -0.68 -0.62
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.21 -0.21 -0.96 -0.88
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.92 1.61 2.90 2.54
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -0.21 -0.21 -0.96 -0.88
Altman Z-Score		 7.65 3.02 5.10 6.61 7.59 3.71 1.71 -1.12 6.48 9.03 11.41
Noncontrolling Interest Sharing Ratio		 21.23% 24.51% 44.04% 24.45% 27.63% 33.19% 51.51% 42.03% 35.41% 22.40% 20.92%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.24 7.09 12.05 9.25 6.44 5.32 5.13 4.19 6.38 14.23 15.14
Quick Ratio		 8.04 6.96 11.88 9.08 6.32 5.15 4.98 4.07 6.28 14.08 14.94
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -32 -30 -28 -31 -32 -36 -39 -31 -45 -59 -64
Operating Cash Flow to CapEx		 -31,380.99% -13,990.48% -75,041.43% -28,852.03% -18,565.71% -80,769.33% -12,159.23% -41,635.11% -98,901.54% -9,754.01% -19,350.33%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -30.89 0.00 -52.50
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -44.06 0.00 -71.63
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -44.11 0.00 -72.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -9.94 -15 -13 -17 -31 -31 -27 -39 -44 -41 -36
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 -9.53 -11 -15 -14 -21 -15 -13 -22 -13 -11 -8.85
Enterprise Value (EV)		 580 293 365 530 947 685 544 732 1,767 4,469 5,669
Market Capitalization		 833 506 579 806 1,182 862 682 817 2,006 5,057 6,247
Book Value per Share		 $2.84 $2.30 $2.11 $2.71 $1.86 $1.32 $0.97 $0.41 $1.39 $3.84 $3.35
Tangible Book Value per Share		 $2.84 $2.30 $2.11 $2.71 $1.86 $1.32 $0.97 $0.41 $1.39 $3.84 $3.35
Total Capital		 303 258 422 373 315 256 219 199 347 859 831
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44 44 223 223
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 44 44 223 223
Net Debt		 -313 -273 -436 -390 -346 -287 -246 -194 -347 -678 -643
Capital Expenditures (CapEx)		 0.12 0.32 0.07 0.15 0.28 0.08 0.55 0.13 0.07 0.81 0.45
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -28 -33 -31 -33 -47 -46 -42 -51 -56 -54 -47
Debt-free Net Working Capital (DFNWC)		 251 233 405 330 288 241 204 187 335 846 820
Net Working Capital (NWC)		 251 233 405 330 288 241 204 187 335 846 820
Net Nonoperating Expense (NNE)		 14 14 15 14 18 16 20 21 23 33 25
Net Nonoperating Obligations (NNO)		 -313 -273 -436 -390 -346 -287 -246 -194 -347 -678 -643
Total Depreciation and Amortization (D&A)		 1.76 -4.83 -0.33 3.66 -5.10 -1.50 0.18 1.44 1.28 0.32 0.25
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.64) ($486.39) ($0.62) ($0.59) ($0.64) ($2,424.41) ($656.64) ($665.37) ($0.50) ($1,374.41) ($663.45)
Adjusted Weighted Average Basic Shares Outstanding		 86.17M 79.74M 94.80M 99.24M 110.17M 103.94M 113.38M 114.54M 137.55M 128.97M 162.27M
Adjusted Diluted Earnings per Share		 ($0.64) ($486.39) ($0.62) ($0.59) ($0.64) ($2,424.41) ($656.64) ($665.37) ($0.50) ($1,374.41) ($663.45)
Adjusted Weighted Average Diluted Shares Outstanding		 86.17M 79.74M 94.80M 99.24M 110.17M 103.94M 113.38M 114.54M 137.55M 128.97M 162.27M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 86.12M 103.91M 95.61M 109.45M 110.46M 113.85M 113.86M 139.70M 142.38M 162.31M 170.87M
Normalized Net Operating Profit after Tax (NOPAT)		 -42 -41 -44 -45 -53 -52 -52 -53 -58 -70 -73
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -57.13 0.00 -85.53
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -39.99 0.00 -59.79
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -57.18 0.00 -85.90
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -40.04 0.00 -60.16
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

Cogent Biosciences, Inc. (COGT) has been operating with little to no revenue and ongoing net losses over the last several quarters, but the company has managed to fund its operations through substantial equity financing in 2025. Cash levels have remained around the mid-$100 millions, and the balance sheet shows rising equity driven by these financings, while retention of deficits persists.

  • Substantial equity financing in 2025: Cogent raised meaningful new equity in 2025, including an issuance of Common Equity totaling about $459.1 million in Q4 2025, supporting strong net financing inflows in that period (about $588.7 million).
  • Positive quarterly financing inflows in several 2025 quarters: Net cash from financing activities was approximately $47.3 million in Q2 2025, about $217.4 million in Q3 2025, and roughly $588.7 million in Q4 2025, underscoring a reliance on equity to fund ongoing losses.
  • Stable liquidity around $125–128 million in 2025: Cash & equivalents were in the low-to-mid $120s million across Q1–Q3 2025, providing a liquidity cushion despite negative operating cash flow.
  • Rising total equity driven by issuances: Total Common Equity grew through 2025 (e.g., about $110.8 million in early 2025 to roughly $194.5 million by Q3 2025), reflecting the impact of new equity issuances on the balance sheet.
  • Revenue trend remains flat at $0 in recent periods: Total Revenue is reported as $0.0 in Q4 2025, Q3 2025, Q2 2025, and Q1 2025, consistent with a pre-revenue clinical-stage biotech profile.
  • Persistent quarterly net losses: Net income (including losses attributed to common shareholders) was -$102,492,000 in Q4 2025, -$80,930,000 in Q3 2025, -$73,529,000 in Q2 2025, and -$71,986,000 in Q1 2025, highlighting a continued drag on profitability.
  • Operating cash flow consistently negative: Net cash from continuing operating activities was -$79,105,000 in Q4 2025, -$64,286,000 in Q3 2025, -$54,542,000 in Q2 2025, and -$66,511,000 in Q1 2025, indicating ongoing operating cash burn.
  • Large investing outflows in 2025: Net cash from investing activities was substantial negative in 2025 (e.g., -$322,769,000 in Q4 2025 and -$322,769,000 in Q2 2025), driven by heavy purchases of investments and related activity.
  • Cumulative deficit on retained earnings: Retained earnings were deeply negative (approximately -$1.086 billion) by Q4 2025, reflecting a long-run accumulated loss position even as equity raises added to total equity.
  • Net debt burden (limited but present): Long-term debt exists in the balance sheet (e.g., around $43–44 million in mid-2025 quarters), indicating a modest leverage load alongside equity-funded burn.
05/17/26 05:21 AM ETAI Generated. May Contain Errors.

Cogent Biosciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Cogent Biosciences' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Cogent Biosciences' net income appears to be on an upward trend, with a most recent value of -$328.94 million in 2025, rising from -$25.49 million in 2017. The previous period was -$255.86 million in 2024. See where experts think Cogent Biosciences is headed by visiting Cogent Biosciences' forecast page.

Cogent Biosciences' total operating income in 2025 was -$333.36 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $333.36 million

Over the last 8 years, Cogent Biosciences' total revenue changed from $8.36 million in 2017 to $0.00 in 2025, a change of -100.0%.

Cogent Biosciences' total liabilities were at $301.24 million at the end of 2025, a 320.7% increase from 2024, and a 1,347.6% increase since 2017.

In the past 8 years, Cogent Biosciences' cash and equivalents has ranged from $28.27 million in 2017 to $312.01 million in 2025, and is currently $312.01 million as of their latest financial filing in 2025.

Over the last 8 years, Cogent Biosciences' book value per share changed from -4.79 in 2017 to 3.84 in 2025, a change of -180.2%.


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Financial statements for NASDAQ:COGT last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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