Erasca (ERAS) Financials

$10.46 +0.08 (+0.77%)

Closing price 05/13/2026 04:00 PM Eastern

Extended Trading

$10.22 -0.24 (-2.25%)

As of 04:43 AM Eastern

Annual Income Statements for Erasca

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	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	-94	-123	-243	-125	-162	-125
Consolidated Net Income / (Loss)	-102	-123	-243	-125	-162	-125
Net Income / (Loss) Continuing Operations	-94	-123	-243	-125	-162	-125
Total Pre-Tax Income	-102	-123	-243	-125	-162	-125
Total Operating Income	-109	-125	-247	-142	-180	-141
Total Gross Profit	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
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	109	125	247	142	180	141
Selling, General & Admin Expense	7.96	23	33	38	42	39
Research & Development Expense	101	85	214	104	138	102
Other Operating Expenses / (Income)	0.00	17	0.00	0.00	0.00	0.00
Total Other Income / (Expense), net	7.59	2.12	4.65	16	18	16
Interest & Investment Income	0.34	0.19	4.90	17	20	17
Other Income / (Expense), net	7.26	1.93	-0.26	-0.23	-2.16	-0.25
Basic Earnings per Share	($4.83)	($1.85)	($1.99)	($0.83)	($0.69)	($0.44)
Weighted Average Basic Shares Outstanding	21.04M	66.29M	122.02M	150.18M	233.82M	283.53M
Diluted Earnings per Share	($4.83)	($1.85)	($1.99)	($0.83)	($0.69)	($0.44)
Weighted Average Diluted Shares Outstanding	21.04M	66.29M	122.02M	150.18M	233.82M	283.53M
Weighted Average Basic & Diluted Shares Outstanding	21.04M	66.29M	150.59M	151.49M	283.27M	310.80M
Cash Dividends to Common per Share	-	-	$0.00	$0.00	$0.00	$0.00

This table shows Erasca's 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	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Consolidated Net Income / (Loss)	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Net Income / (Loss) Continuing Operations	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Total Pre-Tax Income	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Total Operating Income	-35	-34	-39	-68	-37	-36	-36	-38	-35	-33	-188
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	35	34	39	68	37	36	36	38	35	33	188
Selling, General & Admin Expense	9.45	9.07	10	12	9.61	9.59	9.66	9.46	10	9.36	11
Research & Development Expense	25	25	29	56	28	26	26	29	24	23	177
Total Other Income / (Expense), net	4.30	4.17	3.83	4.58	6.04	3.48	4.66	4.25	3.93	3.51	4.47
Interest & Investment Income	4.35	4.24	3.90	5.04	5.87	5.28	4.74	4.33	3.97	3.57	4.45
Other Income / (Expense), net	-0.05	-0.07	-0.07	-0.46	0.17	-1.80	-0.08	-0.08	-0.04	-0.05	0.02
Basic Earnings per Share	($0.20)	($0.20)	($0.23)	($0.29)	($0.11)	($0.06)	($0.11)	($0.12)	($0.11)	($0.10)	($0.60)
Weighted Average Basic Shares Outstanding	150.45M	150.18M	151.16M	217.81M	282.38M	233.82M	283.26M	283.36M	283.68M	283.53M	304.32M
Diluted Earnings per Share	($0.20)	($0.20)	($0.23)	($0.29)	($0.11)	($0.06)	($0.11)	($0.12)	($0.11)	($0.10)	($0.60)
Weighted Average Diluted Shares Outstanding	150.45M	150.18M	151.16M	217.81M	282.38M	233.82M	283.26M	283.36M	283.68M	283.53M	304.32M
Weighted Average Basic & Diluted Shares Outstanding	151.09M	151.49M	173.36M	282.50M	282.73M	283.27M	283.29M	283.67M	283.71M	310.80M	310.98M
Cash Dividends to Common per Share	-	-	-	-	-	-	-	-	-	-	$0.00

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	36	295	-76	-191	-25	6.07
Net Cash From Operating Activities	-33	-80	-103	-101	-109	-95
Net Cash From Continuing Operating Activities	-33	-80	-103	-101	-109	-95
Net Income / (Loss) Continuing Operations	-102	-123	-243	-125	-162	-125
Consolidated Net Income / (Loss)	-102	-123	-243	-125	-162	-125
Depreciation Expense	0.54	0.83	2.64	3.73	3.81	3.11
Amortization Expense	-0.04	0.11	-0.99	-6.95	-9.59	-5.09
Non-Cash Adjustments To Reconcile Net Income	65	35	122	30	56	34
Changes in Operating Assets and Liabilities, net	3.29	7.71	16	-3.19	1.74	-3.26
Net Cash From Investing Activities	-71	-65	-71	-91	-157	100
Net Cash From Continuing Investing Activities	-71	-65	-71	-91	-157	100
Purchase of Property, Plant & Equipment	-0.95	-11	-15	-1.78	-0.06	-0.13
Acquisitions	-38	-7.68	-2.00	-20	-23	-9.50
Purchase of Investments	-99	-106	-134	-314	-403	-151
Sale and/or Maturity of Investments	67	60	80	245	269	261
Other Investing Activities, net	-	-	-	0.00	-0.16	0.00
Net Cash From Financing Activities	140	439	98	1.30	241	1.10
Net Cash From Continuing Financing Activities	140	439	98	1.30	241	1.10
Issuance of Common Equity	0.00	318	96	0.79	240	0.72
Other Financing Activities, net	3.02	1.94	2.00	0.51	0.84	0.37
Cash Income Taxes Paid	0.00	0.00	0.00	0.00	0.00	0.00

This table details how cash moves in and out of Erasca's 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	-26	-20	-16	96	-104	-1.15	2.74	-4.34	4.09	3.58	-27
Net Cash From Operating Activities	-24	-25	-33	-29	-22	-25	-32	-21	-22	-22	-27
Net Cash From Continuing Operating Activities	-24	-25	-33	-29	-22	-25	-32	-21	-22	-22	-27
Net Income / (Loss) Continuing Operations	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Consolidated Net Income / (Loss)	-30	-30	-35	-63	-31	-32	-31	-34	-31	-29	-183
Depreciation Expense	0.94	0.94	1.00	1.13	0.84	0.83	0.82	0.79	0.76	0.74	0.72
Amortization Expense	-2.37	-2.20	-2.34	-2.38	-2.52	-2.35	-1.99	-1.50	-1.02	-0.58	-0.75
Non-Cash Adjustments To Reconcile Net Income	6.24	10	6.85	35	6.64	8.06	6.71	14	7.97	5.75	158
Changes in Operating Assets and Liabilities, net	1.43	-3.97	-3.74	0.53	3.82	1.13	-6.14	0.16	1.26	1.47	-2.33
Net Cash From Investing Activities	-1.81	4.55	9.97	-87	-103	23	34	16	26	25	-244
Net Cash From Continuing Investing Activities	-1.81	4.55	9.97	-87	-103	23	34	16	26	25	-244
Purchase of Property, Plant & Equipment	-0.24	-0.08	-0.04	-0.01	-0.01	-	-0.08	-0.03	-0.01	-0.01	-0.04
Acquisitions	-	-	0.00	-23	-	-	0.00	-5.50	-4.00	-	-150
Purchase of Investments	-54	-61	-44	-100	-192	-67	-11	-57	-42	-42	-253
Sale and/or Maturity of Investments	52	66	54	36	89	90	45	78	71	67	159
Net Cash From Financing Activities	0.01	0.46	6.93	212	21	0.80	0.03	0.45	0.04	0.58	245
Net Cash From Continuing Financing Activities	0.01	0.46	6.93	212	21	0.80	0.03	0.45	0.04	0.58	245
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-16
Issuance of Common Equity	-	0.26	6.91	212	21	0.41	0.00	0.40	-	0.32	259
Other Financing Activities, net	0.01	0.19	0.02	0.11	0.31	0.40	0.03	0.04	0.04	0.26	1.96

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	125	501	515	395	503	396
Total Current Assets	120	420	444	321	309	286
Cash & Equivalents	65	360	284	93	68	74
Short-Term Investments	53	54	151	219	231	202
Prepaid Expenses	1.29	5.54	8.88	8.33	10	10
Plant, Property, & Equipment, net	1.85	16	25	22	16	13
Total Noncurrent Assets	2.99	65	46	52	177	97
Long-Term Investments	0.00	45	0.00	9.64	142	66
Other Noncurrent Operating Assets	2.99	21	46	43	35	31
Total Liabilities & Shareholders' Equity	125	501	515	395	503	396
Total Liabilities	17	45	103	79	79	71
Total Current Liabilities	14	26	49	26	31	29
Accounts Payable	0.88	4.68	23	2.00	0.47	0.98
Accrued Expenses	12	21	24	20	26	22
Other Current Liabilities	0.88	0.29	1.31	3.97	4.62	5.07
Total Noncurrent Liabilities	3.72	19	54	52	48	42
Other Noncurrent Operating Liabilities	3.72	19	54	52	48	42
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-114	457	412	317	423	325
Total Preferred & Common Equity	-114	457	412	317	423	325
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-114	457	412	317	423	325
Common Stock	1.42	695	894	923	1,191	1,217
Retained Earnings	-115	-238	-481	-606	-768	-892
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.16	-1.04	0.08	0.41	0.63

This table presents Erasca's 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	446	468	441	419	370	526	529	471	445	420	461
Total Current Assets	366	398	324	306	307	418	330	315	311	300	254
Cash & Equivalents	219	273	139	113	77	173	69	70	66	70	47
Short-Term Investments	137	117	178	184	221	236	250	234	235	218	197
Prepaid Expenses	9.82	8.14	6.61	9.30	8.94	9.59	11	10	10.00	12	10.00
Plant, Property, & Equipment, net	25	25	24	23	21	18	17	16	15	14	13
Total Noncurrent Assets	56	45	93	90	42	90	182	141	120	106	195
Long-Term Investments	9.57	-	48	47	0.00	52	144	106	86	74	165
Other Noncurrent Operating Assets	46	45	45	43	42	38	37	35	34	32	30
Total Liabilities & Shareholders' Equity	446	468	441	419	370	526	529	471	445	420	461
Total Liabilities	81	81	78	80	82	75	79	72	73	73	68
Total Current Liabilities	28	26	23	27	30	25	30	25	28	29	27
Accounts Payable	4.32	3.35	2.63	3.70	2.63	2.14	2.41	2.26	1.66	3.03	2.16
Accrued Expenses	22	19	17	19	17	18	23	18	22	21	19
Other Current Liabilities	1.03	3.12	3.67	3.82	11	4.29	4.45	4.79	4.71	4.89	5.25
Total Noncurrent Liabilities	53	56	55	54	51	50	49	46	45	44	41
Other Noncurrent Operating Liabilities	53	56	55	54	51	50	49	46	45	44	41
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	365	386	363	339	288	451	450	400	372	348	394
Total Preferred & Common Equity	365	386	363	339	288	451	450	400	372	348	394
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	365	386	363	339	288	451	450	400	372	348	394
Common Stock	712	901	909	916	930	1,156	1,184	1,198	1,204	1,210	1,470
Retained Earnings	-346	-514	-546	-576	-641	-704	-735	-799	-833	-863	-1,076
Accumulated Other Comprehensive Income / (Loss)	-1.38	-0.51	-0.79	-0.58	-0.21	-0.20	1.83	0.63	0.42	0.65	-0.70

This table displays calculated financial ratios and metrics derived from Erasca's official financial filings.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	121,250,375.00	-	-	-	283,711,805.00
DEI Adjusted Shares Outstanding	0.00	121,250,375.00	-	-	-	283,711,805.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-1.01	-	-	-	-0.44
Growth Metrics	-	-	-	-	-	-
Profitability Metrics	-	-	-	-	-	-
Net Operating Profit after Tax (NOPAT)	-76	-87	-173	-99	-126	-99
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-31.28%	-29.68%	-30.33%
Earnings before Interest and Taxes (EBIT)	-102	-123	-248	-142	-182	-141
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-101	-122	-246	-145	-188	-143
Valuation Ratios	-	-	-	-	-	-
Leverage & Solvency	-	-	-	-	-	-
Liquidity Ratios	-	-	-	-	-	-
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-96	-152	-118	-114	-99
Efficiency Ratios	-	-	-	-	-	-
Capital & Investment Metrics	-	-	-	-	-	-
Invested Capital	-11	-2.72	-24	-5.31	-17	-17
Increase / (Decrease) in Invested Capital	0.00	8.56	-21	18	-12	0.35
Book Value per Share	($5.42)	$3.77	$3.37	$2.10	$1.50	$1.15
Tangible Book Value per Share	($5.42)	$3.77	$3.37	$2.10	$1.50	$1.15
Total Capital	107	457	412	317	423	325
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-119	-459	-436	-322	-440	-342
Capital Expenditures (CapEx)	0.95	11	15	1.78	0.06	0.13
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-12	-21	-40	-18	-21	-18
Debt-free Net Working Capital (DFNWC)	106	394	396	295	277	258
Net Working Capital (NWC)	106	394	396	295	277	258
Net Nonoperating Expense (NNE)	25	35	70	26	36	26
Net Nonoperating Obligations (NNO)	-119	-459	-436	-322	-440	-342
Total Depreciation and Amortization (D&A)	0.50	0.94	1.65	-3.22	-5.79	-1.98
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($1.85)	($1.99)	($0.83)	($0.69)	($0.44)
Adjusted Weighted Average Basic Shares Outstanding	0.00	121.59M	122.02M	150.18M	233.82M	283.53M
Adjusted Diluted Earnings per Share	$0.00	($1.85)	($1.99)	($0.83)	($0.69)	($0.44)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	121.59M	122.02M	150.18M	233.82M	283.53M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.85)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	66.29M	150.59M	151.49M	283.27M	310.80M
Normalized Net Operating Profit after Tax (NOPAT)	-76	-87	-173	-99	-126	-99
Debt Service Ratios	-	-	-	-	-	-
Payout Ratios	-	-	-	-	-	-

This table displays calculated financial ratios and metrics derived from Erasca's 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	-	-	-	-	-	-	283,265,716.00	283,287,382.00	283,670,139.00	283,711,805.00	310,799,547.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	283,265,716.00	283,287,382.00	283,670,139.00	283,711,805.00	310,799,547.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-0.11	-0.12	-0.11	-0.10	-0.59
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBITDA Growth	0.76%	74.50%	-8.35%	-90.44%	-7.22%	-10.92%	8.42%	43.99%	10.05%	-	-409.66%
EBIT Growth	6.23%	75.43%	-4.97%	-89.39%	-6.81%	-10.54%	8.25%	44.01%	6.71%	-	-426.21%
NOPAT Growth	6.23%	75.47%	-4.93%	-88.44%	-7.46%	-5.43%	8.29%	43.75%	7.24%	-	-427.40%
Net Income Growth	14.45%	78.04%	-5.48%	-98.86%	-2.76%	-8.52%	11.57%	46.40%	1.88%	-	-492.39%
EPS Growth	31.03%	81.65%	-4.55%	-38.10%	45.00%	70.00%	52.17%	58.62%	0.00%	-	-445.45%
Operating Cash Flow Growth	-0.73%	6.01%	-26.15%	-12.45%	7.05%	0.90%	5.10%	29.65%	3.39%	-	13.22%
Free Cash Flow Firm Growth	32.35%	44.22%	-7.53%	-123.75%	12.40%	68.39%	-6.76%	47.79%	-31.94%	-	-465.91%
Invested Capital Growth	-2,475.28%	77.67%	-182.03%	-249.79%	-189.29%	-219.90%	-24.78%	-58.18%	-9.31%	-	-29.41%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
EBITDA Q/Q Growth	0.96%	2.61%	-14.40%	-72.59%	44.24%	-0.75%	5.55%	-5.55%	10.45%	-	-478.28%
EBIT Q/Q Growth	3.68%	2.21%	-14.67%	-75.35%	45.68%	-1.20%	4.82%	-7.00%	9.48%	-	-475.32%
NOPAT Q/Q Growth	3.65%	2.27%	-14.70%	-74.47%	45.06%	4.11%	0.23%	-7.00%	9.39%	-	-476.34%
Net Income Q/Q Growth	4.47%	2.17%	-17.90%	-80.49%	50.63%	-3.31%	3.93%	-9.40%	9.64%	-	-530.55%
EPS Q/Q Growth	4.76%	0.00%	-15.00%	-26.09%	62.07%	45.45%	-83.33%	-9.09%	8.33%	-	-500.00%
Operating Cash Flow Q/Q Growth	7.06%	-2.77%	-34.14%	12.23%	23.18%	-9.57%	-28.46%	34.94%	-5.49%	-	-26.13%
Free Cash Flow Firm Q/Q Growth	-8.60%	-112.40%	49.71%	-92.87%	57.48%	23.36%	-69.85%	5.67%	-7.44%	-	-452.97%
Invested Capital Q/Q Growth	-75.03%	-15.75%	-74.82%	1.24%	-44.75%	-28.00%	31.81%	-25.19%	-0.03%	-	9.90%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	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%
Operating Margin	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%
Profit (Net Income) Margin	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%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Interest Burden Percent	87.48%	87.51%	89.98%	92.61%	84.17%	85.92%	86.72%	88.67%	88.52%	-	97.63%
Effective Tax Rate	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%
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%
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%
Return on Equity (ROE)	-65.48%	-34.33%	-37.60%	-38.90%	-40.33%	-43.68%	-45.82%	-31.16%	-32.00%	-	-69.86%
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%
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%
Return on Assets (ROA)	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)	-65.48%	-34.33%	-37.60%	-38.90%	-40.33%	-43.68%	-45.82%	-31.16%	-32.00%	-	-69.86%
Return on Equity Simple (ROE_SIMPLE)	-68.03%	0.00%	-43.99%	-35.09%	-35.36%	0.00%	-39.45%	0.00%	0.00%	-	0.00%
Net Operating Profit after Tax (NOPAT)	-24	-24	-27	-47	-26	-25	-25	-27	-24	-23	-132
NOPAT Margin	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)	-1.72%	-1.58%	-2.28%	-3.82%	-1.27%	-1.90%	-1.70%	-1.70%	-1.56%	-	-12.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-7.49%	-	-	-	-5.90%	-6.24%	-7.17%	-6.95%	-7.02%	-33.43%
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%
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%
R&D to Revenue	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%
Earnings before Interest and Taxes (EBIT)	-35	-34	-39	-68	-37	-38	-36	-38	-35	-33	-188
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-36	-35	-40	-69	-39	-39	-37	-39	-35	-32	-188
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.88	1.02	1.08	0.91	1.71	1.68	0.97	0.97	1.78	-	12.78
Price to Tangible Book Value (P/TBV)	0.88	1.02	1.08	0.91	1.71	1.68	0.97	0.97	1.78	-	12.78
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
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
Dividend Yield	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%
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
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
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
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
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
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
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
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Financial Leverage	-1.01	-1.04	-1.02	-1.01	-1.02	-1.03	-1.03	-1.03	-1.03	-	-1.03
Leverage Ratio	1.23	1.25	1.24	1.19	1.20	1.21	1.22	1.18	1.19	-	1.18
Compound Leverage Factor	1.08	1.09	1.12	1.10	1.01	1.04	1.06	1.05	1.05	-	1.15
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
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%
Long-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%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
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%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	-	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Altman Z-Score	0.82	0.92	0.42	1.88	4.37	3.67	1.36	0.81	2.75	-	40.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	11.45	12.26	10.14	16.79	11.00	9.84	12.35	11.04	10.45	-	9.52
Quick Ratio	11.10	11.94	9.84	16.41	10.62	9.50	11.96	10.68	10.04	-	9.14
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-20	-42	-21	-41	-17	-13	-23	-21	-23	-23	-128
Operating Cash Flow to CapEx	-10,050.00%	-30,229.27%	-79,169.05%	-224,484.62%	-448,380.00%	0.00%	-38,018.07%	-68,436.67%	-360,966.67%	-	-76,063.89%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
Accounts Receivable Turnover	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
Fixed Asset Turnover	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
Days Sales Outstanding (DSO)	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
Days Payable Outstanding (DPO)	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
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-4.58	-5.31	-9.28	-9.16	-13	-17	-12	-14	-14	-17	-15
Invested Capital Turnover	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	-4.41	18	-5.99	-6.54	-8.68	-12	-2.30	-5.33	-1.24	0.35	-3.40
Enterprise Value (EV)	-46	-0.18	14	-51	308	269	-23	-27	256	-	4,620
Market Capitalization	298	322	312	409	771	710	388	360	618	-	5,029
Book Value per Share	$2.24	$2.10	$1.90	$2.60	$1.59	$1.50	$1.41	$1.31	$1.23	$1.15	$1.27
Tangible Book Value per Share	$2.24	$2.10	$1.90	$2.60	$1.59	$1.50	$1.41	$1.31	$1.23	$1.15	$1.27
Total Capital	339	317	288	451	450	423	400	372	348	325	394
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-344	-322	-298	-460	-463	-440	-411	-387	-362	-342	-409
Capital Expenditures (CapEx)	0.24	0.08	0.04	0.01	0.01	0.00	0.08	0.03	0.01	0.01	0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-17	-18	-21	-15	-19	-21	-15	-18	-17	-18	-17
Debt-free Net Working Capital (DFNWC)	279	295	276	393	300	277	289	283	271	258	227
Net Working Capital (NWC)	279	295	276	393	300	277	289	283	271	258	227
Net Nonoperating Expense (NNE)	6.10	5.99	7.82	16	5.13	7.23	6.03	7.19	6.43	6.27	52
Net Nonoperating Obligations (NNO)	-344	-322	-298	-460	-463	-440	-411	-387	-362	-342	-409
Total Depreciation and Amortization (D&A)	-1.43	-1.25	-1.34	-1.24	-1.68	-1.52	-1.16	-0.71	-0.27	0.16	-0.02
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%
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%
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%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.20)	($0.20)	($0.23)	($0.29)	($0.11)	($0.06)	($0.11)	($0.12)	($0.11)	($0.10)	($0.60)
Adjusted Weighted Average Basic Shares Outstanding	150.45M	150.18M	151.16M	217.81M	282.38M	233.82M	283.26M	283.36M	283.68M	283.53M	304.32M
Adjusted Diluted Earnings per Share	($0.20)	($0.20)	($0.23)	($0.29)	($0.11)	($0.06)	($0.11)	($0.12)	($0.11)	($0.10)	($0.60)
Adjusted Weighted Average Diluted Shares Outstanding	150.45M	150.18M	151.16M	217.81M	282.38M	233.82M	283.26M	283.36M	283.68M	283.53M	304.32M
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	151.09M	151.49M	173.36M	282.50M	282.73M	283.27M	283.29M	283.67M	283.71M	310.80M	310.98M
Normalized Net Operating Profit after Tax (NOPAT)	-24	-24	-27	-47	-26	-25	-25	-27	-24	-23	-132
Normalized NOPAT Margin	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%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00
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%
Augmented Payout Ratio	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

ERAS (Erasca, Inc.) has been in a pre-commercial biotech phase over the last four years, with no reported revenue in the provided periods and ongoing net losses. The company has funded its operations primarily through equity financing and investment activity, while maintaining a sizable liquidity buffer. Below are the key takeaways based on quarterly results from 2021 through 2025, with a focus on the most recent four-year window.

Liquidity headroom in 2025: As of 2025-Q3, ERAS held about $70.2 million in cash and $218.2 million in short-term investments, totaling roughly $288 million in liquid assets. This liquidity provides runway to advance research activities and potential pipeline milestones.
No near-term debt burden evident: The balance sheets show modest total liabilities relative to equity, with no explicit debt line highlighted in the provided data, which reduces interest- and debt-related risk for the company.
Equity financing contributing to liquidity in 2025: The company issued common equity in multiple 2025 quarters, providing incremental cash inflows to support operations and ongoing development activities.
Investing activity boosts cash in several quarters: Net cash from continuing investing activities was positive in key 2025 quarters (e.g., around $25 million in Q3 2025 and around $24.7 million in Q4 2025), reflecting maturities/sales of investments that added to cash reserves.
Strong working capital position in 2025: In 2025-Q3, total current assets were about $299.9 million while total current liabilities were about $28.7 million, implying a solid working-capital cushion (roughly $270 million). This suggests ample liquidity to operate through ongoing development cycles.
Non-cash items help reconcile earnings: Depreciation, amortization, and non-cash adjustments vary by quarter and help reconcile net income to cash flows. These are non-cash items and do not directly reflect operating cash generation.
Share count rising, potential dilution: Weighted-average shares outstanding (basic/diluted) have grown over the period (e.g., around 283–284 million in 2025 quarters), indicating potential dilution for existing shareholders from equity financings.
Persistent net losses and negative profitability: Net income consistently negative across observed periods (e.g., Q4 2025 net income around -$29.1 million; Q2 2025 around -$63.8 million; Q4 2024 around -$135.3 million). This reflects ongoing profitability challenges typical of early-stage biotech.
Operating cash flow routinely negative: Net cash from operating activities was negative in all recent quarters (e.g., around -$21–$32 million per quarter in 2025), indicating active cash burn from core operations rather than cash flow from operations.
No revenue in last four years: Across the provided periods, Total Revenue is consistently zero (or effectively zero in many quarters), underscoring the company’s status as a development-stage biotech without product revenue yet.

05/14/26 03:23 AM ETAI Generated. May Contain Errors.

Erasca Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Erasca's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Erasca's net income appears to be on an upward trend, with a most recent value of -$124.55 million in 2025, rising from -$101.66 million in 2020. The previous period was -$161.65 million in 2024. See Erasca's forecast for analyst expectations on what's next for the company.

Erasca's total operating income in 2025 was -$140.91 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $140.91 million

Over the last 5 years, Erasca's total revenue changed from $0.00 in 2020 to $0.00 in 2025, a change of 0.0%.

Erasca's total liabilities were at $70.98 million at the end of 2025, a 10.2% decrease from 2024, and a 307.9% increase since 2020.

In the past 5 years, Erasca's cash and equivalents has ranged from $65.38 million in 2020 to $360.49 million in 2021, and is currently $73.81 million as of their latest financial filing in 2025.

Over the last 5 years, Erasca's book value per share changed from -5.42 in 2020 to 1.15 in 2025, a change of -121.2%.

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Financial statements for NASDAQ:ERAS last updated on 5/14/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Erasca (ERAS) Financials

Financials Breakdown Chart

Key Financial Trends

Erasca Financials - Frequently Asked Questions

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Erasca (ERAS) Financials

Annual Income Statements for Erasca

Quarterly Income Statements for Erasca

Annual Cash Flow Statements for Erasca

Quarterly Cash Flow Statements for Erasca

Annual Balance Sheets for Erasca

Quarterly Balance Sheets for Erasca

Annual Metrics And Ratios for Erasca

Quarterly Metrics And Ratios for Erasca

Financials Breakdown Chart

Key Financial Trends

Erasca Financials - Frequently Asked Questions

When does Erasca's fiscal year end?

How has Erasca's net income changed over the last 5 years?

What is Erasca's operating income?

How has Erasca's revenue changed over the last 5 years?

How much debt does Erasca have?

How much cash does Erasca have?

How has Erasca's book value per share changed over the last 5 years?

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