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Disc Medicine (IRON) Financials

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$68.12 +0.87 (+1.29%)
As of 02:37 PM Eastern
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Annual Income Statements for Disc Medicine

Annual Income Statements for Disc Medicine

This table shows Disc Medicine'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		 -41 -36 -47 -76 -109 -212
Consolidated Net Income / (Loss)		 -41 -36 -47 -76 -109 -212
Net Income / (Loss) Continuing Operations		 -41 -36 -47 -76 -109 -212
Total Pre-Tax Income 		-41 -36 -47 -76 -109 -212
Total Operating Income		 -34 -31 -47 -91 -130 -236
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		 34 31 47 91 130 236
Selling, General & Admin Expense		 5.87 5.76 14 22 33 65
Research & Development Expense		 28 25 33 69 97 171
Total Other Income / (Expense), net		 -6.80 -5.04 0.65 15 21 24
Interest Expense		 6.83 - - 0.00 0.57 3.61
Interest & Investment Income		 0.04 0.01 0.71 15 21 28
Other Income / (Expense), net		 -0.01 -5.05 -0.06 -0.00 -0.00 0.05
Income Tax Expense		 - - 0.00 0.10 0.36 0.36
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - 0.00 -0.32 -0.68
Basic Earnings per Share		 ($2.70) ($40.95) ($45.05) ($3.42) ($3.96) ($6.01)
Weighted Average Basic Shares Outstanding		 15.12M 878.41K 1.04M 22.32M 27.61M 35.30M
Diluted Earnings per Share		 ($2.70) ($40.95) ($45.05) ($3.42) ($3.96) ($6.01)
Weighted Average Diluted Shares Outstanding		 15.12M 878.41K 1.04M 22.32M 27.61M 35.30M
Weighted Average Basic & Diluted Shares Outstanding		 15.12M 40.36M 19.00M 24.68M 34.57M 38.16M

Quarterly Income Statements for Disc Medicine

This table shows Disc Medicine'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		 -14 -24 0.00 -26 -27 -29 -34 -55 -62 -94 -65
Consolidated Net Income / (Loss)		 -14 -24 -27 -26 -27 -29 -34 -55 -62 -61 -64
Net Income / (Loss) Continuing Operations		 -14 -24 -27 -26 -27 -29 -34 -55 -62 -61 -64
Total Pre-Tax Income 		-14 -24 -27 -26 -26 -29 -34 -55 -62 -60 -63
Total Operating Income		 -19 -30 -31 -31 -33 -35 -40 -61 -68 -67 -70
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		 19 30 31 31 33 35 40 61 68 67 70
Selling, General & Admin Expense		 4.54 7.15 7.76 7.37 8.17 9.75 12 15 17 21 24
Research & Development Expense		 14 23 24 23 25 25 28 46 50 46 46
Total Other Income / (Expense), net		 4.86 6.17 4.52 4.56 6.37 5.27 5.98 6.22 5.48 6.53 6.07
Interest Expense		 - - - 0.00 0.00 - 0.90 0.91 0.92 0.88 0.84
Interest & Investment Income		 4.84 4.68 4.52 4.57 6.36 5.84 6.88 7.06 6.41 7.41 6.89
Other Income / (Expense), net		 0.01 1.49 -0.00 -0.01 0.01 - -0.00 0.07 -0.02 -0.00 0.02
Income Tax Expense		 0.02 0.03 0.01 0.06 0.11 0.18 0.12 0.05 0.10 0.09 0.05
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - 0.00 - - - -0.23 - - - 1.53
Basic Earnings per Share		 ($0.58) ($1.06) ($1.09) ($1.03) ($0.89) ($1.07) ($1.02) ($1.58) ($1.77) ($1.64) ($1.65)
Weighted Average Basic Shares Outstanding		 24.32M 22.32M 24.81M 25.65M 29.94M 27.61M 33.32M 35.02M 35.18M 35.30M 38.49M
Diluted Earnings per Share		 ($0.58) ($1.06) ($1.09) ($1.03) ($0.89) ($1.07) ($1.02) ($1.58) ($1.77) ($1.64) ($1.65)
Weighted Average Diluted Shares Outstanding		 24.32M 22.32M 24.81M 25.65M 29.94M 27.61M 33.32M 35.02M 35.18M 35.30M 38.49M
Weighted Average Basic & Diluted Shares Outstanding		 24.14M 24.68M 24.72M 29.73M 29.76M 34.57M 34.63M 34.77M 37.75M 38.16M 38.20M

Annual Cash Flow Statements for Disc Medicine

This table details how cash moves in and out of Disc Medicine'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		 0.45 62 107 166 -168 -101
Net Cash From Operating Activities		 -33 -28 -42 -73 -94 -180
Net Cash From Continuing Operating Activities		 -34 -28 -42 -73 -94 -180
Net Income / (Loss) Continuing Operations		 -41 -36 -47 -76 -109 -212
Consolidated Net Income / (Loss)		 -41 -36 -47 -76 -109 -212
Depreciation Expense		 0.32 0.03 0.09 0.10 0.16 0.28
Amortization Expense		 - - - 0.00 -5.30 -8.52
Non-Cash Adjustments To Reconcile Net Income		 7.47 6.98 2.04 5.94 22 41
Changes in Operating Assets and Liabilities, net		 -0.73 1.43 2.44 -3.07 -1.43 -0.97
Net Cash From Investing Activities		 -0.02 -0.07 -0.15 -0.09 -292 -394
Net Cash From Continuing Investing Activities		 -0.02 -0.07 -0.15 -0.09 -292 -394
Purchase of Property, Plant & Equipment		 -0.02 -0.07 -0.15 -0.09 -0.51 -0.93
Purchase of Investments		 - - - 0.00 -387 -850
Sale and/or Maturity of Investments		 - - - 0.00 95 456
Net Cash From Financing Activities		 34 90 149 239 218 473
Net Cash From Continuing Financing Activities		 34 90 149 239 218 473
Repayment of Debt		 0.00 0.00 0.00 0.00 -1.39 0.00
Issuance of Debt		 14 0.00 0.00 0.00 29 0.00
Issuance of Common Equity		 20 0.00 54 199 188 451
Other Financing Activities, net		 0.16 0.07 95 40 2.98 23
Cash Interest Paid		 0.35 0.00 0.00 0.00 0.20 2.80

Quarterly Cash Flow Statements for Disc Medicine

This table details how cash moves in and out of Disc Medicine'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		 -7.06 -10 -18 -62 -88 -0.20 -70 4.66 13 -50 -2.23
Net Cash From Operating Activities		 -7.48 -18 -34 -15 -17 -28 -41 -48 -48 -43 -62
Net Cash From Continuing Operating Activities		 -7.48 -18 -34 -15 -17 -28 -41 -48 -48 -43 -62
Net Income / (Loss) Continuing Operations		 -14 -24 -27 -26 -27 -29 -34 -55 -62 -61 -64
Consolidated Net Income / (Loss)		 -14 -24 -27 -26 -27 -29 -34 -55 -62 -61 -64
Depreciation Expense		 0.03 0.03 0.03 0.11 0.01 0.01 0.02 0.09 0.09 0.09 0.09
Amortization Expense		 - - 0.00 - -2.50 -2.21 -2.53 -2.62 -1.74 -1.63 -1.07
Non-Cash Adjustments To Reconcile Net Income		 1.70 0.61 7.89 12 10 -4.72 6.98 9.70 9.93 14 13
Changes in Operating Assets and Liabilities, net		 4.92 5.15 -15 -0.97 1.54 8.80 -12 0.17 6.24 4.81 -11
Net Cash From Investing Activities		 -0.05 -0.00 -0.07 -220 -71 -1.43 -273 52 50 -223 58
Net Cash From Continuing Investing Activities		 -0.05 -0.00 -0.07 -220 -71 -1.43 -273 52 50 -223 58
Purchase of Property, Plant & Equipment		 -0.05 -0.00 -0.07 0.00 0.01 -0.45 -0.85 -0.04 -0.03 -0.02 0.00
Purchase of Investments		 - - 0.00 - -94 -73 -347 -59 -85 -358 -94
Sale and/or Maturity of Investments		 - - 0.00 - - 72 75 110 135 135 152
Net Cash From Financing Activities		 0.46 7.76 16 173 0.43 29 244 0.89 12 217 1.70
Net Cash From Continuing Financing Activities		 0.46 7.76 16 173 0.43 29 244 0.89 12 217 1.70
Issuance of Common Equity		 -0.16 -31 15 173 0.03 - 234 - 10 206 0.69
Other Financing Activities, net		 0.62 38 0.81 0.57 0.40 1.20 9.96 0.89 1.53 10 1.01
Cash Interest Paid		 - - 0.00 - - - 0.70 0.71 0.71 0.68 0.64

Annual Balance Sheets for Disc Medicine

This table presents Disc Medicine'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		 8.32 92 200 368 497 807
Total Current Assets		 5.07 90 198 366 494 804
Cash & Equivalents		 4.50 88 195 360 192 91
Short-Term Investments		 - - - 0.00 297 700
Prepaid Expenses		 0.56 2.45 3.88 5.28 3.73 13
Plant, Property, & Equipment, net		 0.29 0.11 0.17 0.17 0.75 1.16
Total Noncurrent Assets		 2.96 1.82 1.55 2.16 2.41 1.82
Other Noncurrent Operating Assets		 2.96 1.82 1.55 2.16 2.41 1.82
Total Liabilities & Shareholders' Equity		 8.32 92 200 368 497 807
Total Liabilities		 30 15 24 23 53 67
Total Current Liabilities		 25 13 23 21 23 37
Accounts Payable		 2.38 2.56 16 13 7.95 9.02
Accrued Expenses		 5.81 4.10 6.11 8.15 15 27
Other Current Liabilities		 - 6.77 0.31 0.67 0.13 0.61
Total Noncurrent Liabilities		 5.30 1.33 1.03 1.44 30 30
Long-Term Debt		 4.95 - - 0.00 28 29
Other Noncurrent Operating Liabilities		 0.35 1.33 1.03 1.44 1.55 1.25
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -22 78 177 345 444 740
Total Preferred & Common Equity		 -22 -64 177 345 444 740
Preferred Stock		 0.00 142 - 0.00 0.00 0.00
Total Common Equity		 -22 -64 177 345 444 740
Common Stock		 91 1.19 289 534 741 1,249
Retained Earnings		 -113 -65 -112 -189 -298 -510
Accumulated Other Comprehensive Income / (Loss)		 - - - 0.00 0.29 0.97

Quarterly Balance Sheets for Disc Medicine

This table presents Disc Medicine'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		 106 244 384 376 354 510 495 709 665 630 750
Total Current Assets		 105 242 382 374 352 508 493 706 662 627 747
Cash & Equivalents		 102 236 378 371 343 281 193 123 127 141 89
Short-Term Investments		 - - - - - 220 295 572 523 475 641
Prepaid Expenses		 2.93 5.72 4.13 3.72 9.33 7.30 5.79 11 12 11 17
Plant, Property, & Equipment, net		 0.00 0.18 0.16 0.18 0.21 0.10 0.08 1.37 1.29 1.23 1.07
Total Noncurrent Assets		 1.37 1.46 2.28 2.05 2.02 1.88 1.91 2.30 2.18 2.06 1.69
Other Noncurrent Operating Assets		 1.37 1.46 2.28 2.05 2.02 1.88 1.91 2.30 2.18 2.06 1.69
Total Liabilities & Shareholders' Equity		 106 244 384 376 354 510 495 709 665 630 750
Total Liabilities		 1.46 11 13 18 16 21 27 49 51 57 62
Total Current Liabilities		 1.46 9.98 9.68 14 15 20 25 19 21 27 31
Accounts Payable		 1.14 5.64 5.21 8.50 5.27 4.75 3.55 6.70 6.35 7.27 12
Accrued Expenses		 0.33 4.03 4.15 5.57 8.82 15 22 12 14 19 19
Other Current Liabilities		 - 0.31 0.32 0.35 0.77 0.76 0.08 0.48 0.63 0.66 0.42
Total Noncurrent Liabilities		 0.00 0.95 3.27 3.11 1.26 1.08 1.71 30 30 30 31
Long-Term Debt		 0.00 - - - - - - 29 29 29 29
Other Noncurrent Operating Liabilities		 0.00 0.95 3.27 3.11 1.26 1.08 1.71 1.63 1.55 1.37 1.28
Commitments & Contingencies		 - 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 105 233 371 359 338 489 468 660 614 573 688
Total Preferred & Common Equity		 105 233 371 359 338 489 468 660 614 573 688
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00
Total Common Equity		 105 233 371 359 338 489 468 660 614 573 688
Common Stock		 315 368 522 524 554 731 736 992 1,001 1,022 1,263
Retained Earnings		 -210 -135 -151 -165 -216 -242 -269 -332 -387 -450 -574
Accumulated Other Comprehensive Income / (Loss)		 - - - - - -0.06 0.74 0.54 0.27 0.72 -0.57

Annual Metrics And Ratios for Disc Medicine

This table displays calculated financial ratios and metrics derived from Disc Medicine'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
Growth Metrics		 - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 0.00% -6.60% -31.98% -91.85% -48.16% -81.07%
EBIT Growth		 0.00% -5.68% -32.11% -91.70% -42.35% -81.91%
NOPAT Growth		 0.00% 9.13% -53.48% -91.94% -42.35% -81.95%
Net Income Growth		 0.00% 11.92% -30.19% -63.22% -43.08% -94.03%
EPS Growth		 0.00% 11.92% -10.01% 92.41% -15.79% -51.77%
Operating Cash Flow Growth		 0.00% 15.82% -53.45% -73.87% -27.86% -92.06%
Free Cash Flow Firm Growth		 0.00% 0.00% -60.09% -159.87% -32.40% -82.78%
Invested Capital Growth		 0.00% -119.79% -73.47% 15.27% -17.76% -23.34%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 40.87% -129.18% -22.29% -9.45% -14.92%
EBIT Q/Q Growth		 0.00% 41.08% -130.60% -22.26% -5.12% -15.90%
NOPAT Q/Q Growth		 0.00% 49.34% -291.48% -19.22% -3.87% -15.92%
Net Income Q/Q Growth		 0.00% 47.38% -167.49% -19.25% -5.68% -17.16%
EPS Q/Q Growth		 0.00% 47.38% -147.12% -29.55% -14.45% -21.41%
Operating Cash Flow Q/Q Growth		 0.00% 50.73% -222.81% -12.45% -11.62% -9.55%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -84.47% -70.15% -10.69% -8.55%
Invested Capital Q/Q Growth		 0.00% -305.43% -736.43% -31.94% 7.38% -63.22%
Profitability Metrics		 - - - - - -
Gross Margin		 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%
Operating Margin		 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%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.13% 100.33% 100.17%
Interest Burden Percent		 119.94% 99.96% 98.51% 83.76% 84.03% 89.76%
Effective Tax Rate		 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%
ROIC Less NNEP Spread (ROIC-NNEP)		 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%
Return on Equity (ROE)		 186.80% -128.94% -36.84% -29.30% -27.73% -35.86%
Cash Return on Invested Capital (CROIC)		 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%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Common Equity (ROCE)		 186.80% 198.90% -16.28% -29.30% -27.73% -35.86%
Return on Equity Simple (ROE_SIMPLE)		 186.80% 56.02% -26.52% -22.15% -24.65% 0.00%
Net Operating Profit after Tax (NOPAT)		 -24 -22 -33 -64 -91 -165
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 99.25% -40.38% -9.62% -4.56% -4.51% -7.68%
Return On Investment Capital (ROIC_SIMPLE)		 - - - -18.48% -19.24% -21.48%
Cost of Revenue to Revenue		 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%
R&D to Revenue		 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%
Earnings before Interest and Taxes (EBIT)		 -34 -36 -48 -91 -130 -236
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -34 -36 -47 -91 -135 -244
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.16 4.04 4.25 4.05
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.16 4.04 4.25 4.05
Price to Revenue (P/Rev)		 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
Dividend Yield		 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%
Enterprise Value to Invested Capital (EV/IC)		 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
Enterprise Value to EBITDA (EV/EBITDA)		 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
Enterprise Value to NOPAT (EV/NOPAT)		 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
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - -
Debt to Equity		 -0.99 0.00 0.00 0.00 0.06 0.04
Long-Term Debt to Equity		 -0.23 0.00 0.00 0.00 0.06 0.04
Financial Leverage		 -0.78 -1.27 -1.11 -1.06 -1.04 -1.03
Leverage Ratio		 -0.38 1.81 1.15 1.09 1.10 1.10
Compound Leverage Factor		 -0.46 1.80 1.13 0.91 0.92 0.99
Debt to Total Capital		 -9,791.86% 0.00% 0.00% 0.00% 6.00% 3.79%
Short-Term Debt to Total Capital		 -7,551.58% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 -2,240.27% 0.00% 0.00% 0.00% 6.00% 3.79%
Preferred Equity to Total Capital		 0.00% 182.68% 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%
Common Equity to Total Capital		 9,891.86% -82.68% 100.00% 100.00% 94.00% 96.21%
Debt to EBITDA		 -0.64 0.00 0.00 0.00 -0.21 -0.12
Net Debt to EBITDA		 -0.51 0.00 0.00 0.00 3.42 3.12
Long-Term Debt to EBITDA		 -0.15 0.00 0.00 0.00 -0.21 -0.12
Debt to NOPAT		 -0.91 0.00 0.00 0.00 -0.31 -0.18
Net Debt to NOPAT		 -0.72 0.00 0.00 0.00 5.08 4.61
Long-Term Debt to NOPAT		 -0.21 0.00 0.00 0.00 -0.31 -0.18
Altman Z-Score		 -31.95 3.83 0.22 36.16 20.72 26.12
Noncontrolling Interest Sharing Ratio		 0.00% 254.26% 55.79% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 0.20 6.74 8.79 17.06 21.17 21.94
Quick Ratio		 0.18 6.56 8.62 16.81 21.01 21.59
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -16 -26 -67 -88 -161
Operating Cash Flow to CapEx		 -148,672.73% -40,491.18% -27,981.46% -82,541.57% -18,599.21% -19,334.73%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -154.01 -44.64
Operating Cash Flow to Interest Expense		 -4.79 0.00 0.00 0.00 -164.21 -50.01
Operating Cash Flow Less CapEx to Interest Expense		 -4.79 0.00 0.00 0.00 -165.09 -50.27
Efficiency Ratios		 - - - - - -
Asset Turnover		 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
Inventory Turnover		 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
Accounts Payable Turnover		 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
Days Inventory Outstanding (DIO)		 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
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - -
Invested Capital		 -4.72 -10 -18 -15 -18 -22
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 -5.66 -7.63 2.75 -2.71 -4.20
Enterprise Value (EV)		 188 179 -166 1,034 1,425 2,236
Market Capitalization		 171 125 29 1,394 1,887 2,998
Book Value per Share		 ($1.41) ($1.49) $4.08 $14.30 $14.91 $19.60
Tangible Book Value per Share		 ($1.41) ($1.49) $4.08 $14.30 $14.91 $19.60
Total Capital		 -0.22 78 177 345 472 769
Total Debt		 22 0.00 0.00 0.00 28 29
Total Long-Term Debt		 4.95 0.00 0.00 0.00 28 29
Net Debt		 17 -88 -195 -360 -462 -762
Capital Expenditures (CapEx)		 0.02 0.07 0.15 0.09 0.51 0.93
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -7.63 -11 -19 -16 -20 -24
Debt-free Net Working Capital (DFNWC)		 -3.12 77 176 344 470 767
Net Working Capital (NWC)		 -20 77 176 344 470 767
Net Nonoperating Expense (NNE)		 17 14 14 13 19 47
Net Nonoperating Obligations (NNO)		 17 -88 -195 -360 -462 -762
Total Depreciation and Amortization (D&A)		 0.32 0.03 0.09 0.10 -5.15 -8.24
Debt-free, Cash-free Net Working Capital to Revenue		 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%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Adjustments		 - - - - - -
Adjusted Basic Earnings per Share		 $0.00 ($53.40) ($45.05) ($3.42) ($3.96) ($6.01)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 1.44M 1.04M 22.32M 27.61M 35.30M
Adjusted Diluted Earnings per Share		 $0.00 ($53.40) ($45.05) ($3.42) ($3.96) ($6.01)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 1.44M 1.04M 22.32M 27.61M 35.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($53.40) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 1.35M 19.00M 24.68M 34.57M 38.16M
Normalized Net Operating Profit after Tax (NOPAT)		 -24 -22 -33 -64 -91 -165
Normalized NOPAT Margin		 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%
Debt Service Ratios		 - - - - - -
EBIT to Interest Expense		 -4.99 0.00 0.00 0.00 -226.78 -65.42
NOPAT to Interest Expense		 -3.49 0.00 0.00 0.00 -158.75 -45.80
EBIT Less CapEx to Interest Expense		 -4.99 0.00 0.00 0.00 -227.67 -65.68
NOPAT Less CapEx to Interest Expense		 -3.49 0.00 0.00 0.00 -159.63 -46.06
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 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%

Quarterly Metrics And Ratios for Disc Medicine

This table displays calculated financial ratios and metrics derived from Disc Medicine'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		 - - - - - - - - - - 38,160,065.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 38,160,065.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -1.70
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		 -15.40% -142.95% -25.25% -63.52% -86.74% -30.33% -35.05% -103.75% -96.33% -86.44% -66.01%
EBIT Growth		 -15.38% -142.64% -25.23% -63.89% -73.38% -22.41% -26.97% -98.74% -106.15% -93.86% -73.98%
NOPAT Growth		 -80.91% -97.82% -25.22% -78.05% -73.31% -16.28% -26.97% -99.05% -106.04% -93.84% -74.05%
Net Income Growth		 12.56% -109.70% -18.30% -65.25% -88.35% -24.93% -26.48% -109.65% -134.30% -105.49% -86.31%
EPS Growth		 96.55% 90.20% 9.17% -39.19% -53.45% -0.94% 6.42% -53.40% -98.88% 19.21% -61.76%
Operating Cash Flow Growth		 22.86% -84.13% 5.26% -20.98% -132.22% -54.94% -23.15% -211.30% -175.32% -57.04% -50.42%
Free Cash Flow Firm Growth		 108.85% -715.80% -19.33% -245.19% -1,446.16% 8.81% -27.03% -202.79% -250.91% -98.77% -57.37%
Invested Capital Growth		 -508.73% 15.27% -27.39% -89.82% -67.74% -17.76% -27.00% 41.64% 30.01% -23.34% -114.24%
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		 -0.60% -49.04% -11.48% 2.17% -14.88% -4.02% -15.52% -50.46% -8.59% 1.23% -2.87%
EBIT Q/Q Growth		 -0.59% -48.98% -11.48% 1.90% -6.42% -5.18% -15.63% -53.55% -10.39% 1.10% -3.78%
NOPAT Q/Q Growth		 -9.41% -56.74% -5.88% 1.94% -6.50% -5.16% -15.62% -53.73% -10.24% 1.07% -3.81%
Net Income Q/Q Growth		 11.44% -66.97% -14.29% 2.22% -0.94% -10.74% -15.71% -62.09% -12.80% 2.87% -4.91%
EPS Q/Q Growth		 21.62% -82.76% -2.83% 5.50% 13.59% -20.22% 4.67% -54.90% -12.03% 7.34% -0.61%
Operating Cash Flow Q/Q Growth		 41.24% -138.04% -88.80% 54.19% -12.79% -58.82% -50.06% -15.81% 0.25% 9.41% -43.73%
Free Cash Flow Firm Q/Q Growth		 124.51% -2,190.71% 10.63% 24.63% 4.41% -41.62% -24.50% -79.66% -10.78% 19.78% 1.43%
Invested Capital Q/Q Growth		 -81.22% -31.94% 70.22% -166.64% -60.14% 7.38% 67.89% -22.53% -92.07% -63.22% 44.22%
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		 100.14% 100.14% 100.02% 100.23% 100.43% 100.60% 100.35% 100.09% 100.16% 100.15% 100.08%
Interest Burden Percent		 74.44% 83.43% 85.64% 85.18% 80.63% 84.75% 85.02% 89.98% 91.89% 90.25% 91.30%
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)		 -27.65% -29.30% -28.23% -21.16% -25.03% -27.73% -23.34% -26.36% -34.78% -35.86% -35.83%
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)		 -27.65% -29.30% -28.23% -21.16% -25.03% -27.73% -23.34% -26.36% -34.78% -35.86% -35.83%
Return on Equity Simple (ROE_SIMPLE)		 -17.85% 0.00% -23.84% -18.62% -22.11% 0.00% -17.64% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13 -21 -22 -22 -23 -24 -28 -43 -47 -47 -49
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)		 -0.36% -1.00% -1.70% -1.08% -0.84% -1.28% -1.21% -2.19% -2.78% -2.23% -2.17%
Return On Investment Capital (ROIC_SIMPLE)		 - -6.03% - - - -5.12% -4.06% -6.69% -7.87% -6.10% -6.78%
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)		 -19 -28 -31 -31 -33 -35 -40 -61 -68 -67 -70
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -19 -28 -31 -31 -35 -37 -42 -64 -69 -69 -70
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.99 4.04 4.55 2.28 3.12 4.25 2.60 2.99 4.01 4.05 3.54
Price to Tangible Book Value (P/TBV)		 2.99 4.04 4.55 2.28 3.12 4.25 2.60 2.99 4.01 4.05 3.54
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 0.06 0.04 0.05 0.05 0.04 0.04
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.06 0.04 0.05 0.05 0.04 0.04
Financial Leverage		 -1.02 -1.06 -1.01 -1.02 -1.04 -1.04 -1.01 -1.02 -1.03 -1.03 -1.01
Leverage Ratio		 1.04 1.09 1.05 1.04 1.05 1.10 1.07 1.07 1.08 1.10 1.08
Compound Leverage Factor		 0.77 0.91 0.90 0.89 0.85 0.93 0.91 0.96 0.99 0.99 0.99
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 6.00% 4.14% 4.47% 4.81% 3.79% 4.09%
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% 6.00% 4.14% 4.47% 4.81% 3.79% 4.09%
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% 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% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 94.00% 95.86% 95.53% 95.19% 96.21% 95.91%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.21 -0.20 -0.16 -0.14 -0.12 -0.11
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 3.42 4.57 3.48 2.76 3.12 2.57
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 -0.21 -0.20 -0.16 -0.14 -0.12 -0.11
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.31 -0.29 -0.24 -0.20 -0.18 -0.16
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 5.08 6.89 5.26 4.12 4.61 3.77
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 -0.31 -0.29 -0.24 -0.20 -0.18 -0.16
Altman Z-Score		 37.17 36.72 57.22 31.54 32.39 21.35 21.37 21.66 23.94 26.81 23.46
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 25.96 17.06 23.70 25.02 19.36 21.17 37.65 32.11 23.45 21.94 24.00
Quick Ratio		 25.70 16.81 23.07 24.66 19.13 21.01 37.07 31.54 23.03 21.59 23.45
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1.13 -24 -21 -16 -15 -21 -27 -48 -53 -43 -42
Operating Cash Flow to CapEx		 -16,613.33% -593,200.00% -50,147.76% 0.00% 0.00% -6,140.98% -4,862.04% -133,105.56% -183,842.31% -216,500.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -29.81 -52.78 -58.03 -48.34 -49.85
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -46.13 -52.66 -52.13 -49.04 -73.74
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -47.08 -52.70 -52.15 -49.06 -73.74
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		 -12 -15 -4.54 -12 -19 -18 -5.77 -7.07 -14 -22 -12
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		 -14 2.75 -0.98 -5.73 -7.84 -2.71 -1.23 5.05 5.82 -4.20 -6.59
Enterprise Value (EV)		 704 1,034 1,194 613 973 1,425 1,050 1,213 1,710 2,236 1,739
Market Capitalization		 1,075 1,394 1,537 1,114 1,461 1,887 1,716 1,834 2,297 2,998 2,440
Book Value per Share		 $15.69 $14.30 $13.70 $19.77 $15.74 $14.91 $19.10 $17.73 $16.49 $19.60 $18.04
Tangible Book Value per Share		 $15.69 $14.30 $13.70 $19.77 $15.74 $14.91 $19.10 $17.73 $16.49 $19.60 $18.04
Total Capital		 359 345 338 489 468 472 689 643 602 769 718
Total Debt		 0.00 0.00 0.00 0.00 0.00 28 29 29 29 29 29
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 28 29 29 29 29 29
Net Debt		 -371 -360 -343 -501 -487 -462 -666 -621 -587 -762 -701
Capital Expenditures (CapEx)		 0.05 0.00 0.07 -0.00 -0.01 0.45 0.85 0.04 0.03 0.02 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -11 -16 -5.52 -13 -20 -20 -7.80 -8.99 -15 -24 -14
Debt-free Net Working Capital (DFNWC)		 360 344 337 488 468 470 687 641 600 767 716
Net Working Capital (NWC)		 360 344 337 488 468 470 687 641 600 767 716
Net Nonoperating Expense (NNE)		 0.85 2.78 4.93 4.76 3.60 5.27 6.12 12 15 14 15
Net Nonoperating Obligations (NNO)		 -371 -360 -343 -501 -487 -462 -666 -621 -587 -762 -701
Total Depreciation and Amortization (D&A)		 0.03 0.03 0.03 0.11 -2.49 -2.20 -2.51 -2.54 -1.65 -1.54 -0.98
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		 ($0.58) ($1.06) ($1.09) ($1.03) ($0.89) ($1.07) ($1.02) ($1.58) ($1.77) ($1.64) ($1.65)
Adjusted Weighted Average Basic Shares Outstanding		 24.32M 22.32M 24.81M 25.65M 29.94M 27.61M 33.32M 35.02M 35.18M 35.30M 38.49M
Adjusted Diluted Earnings per Share		 ($0.58) ($1.06) ($1.09) ($1.03) ($0.89) ($1.07) ($1.02) ($1.58) ($1.77) ($1.64) ($1.65)
Adjusted Weighted Average Diluted Shares Outstanding		 24.32M 22.32M 24.81M 25.65M 29.94M 27.61M 33.32M 35.02M 35.18M 35.30M 38.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($1.06) $0.00 $0.00 $0.00 ($1.07) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 24.14M 24.68M 24.72M 29.73M 29.76M 34.57M 34.63M 34.77M 37.75M 38.16M 38.20M
Normalized Net Operating Profit after Tax (NOPAT)		 -13 -21 -22 -22 -23 -24 -28 -43 -47 -47 -49
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 -44.54 -67.41 -73.84 -75.85 -82.35
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -31.17 -47.24 -51.68 -53.09 -57.66
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -45.48 -67.45 -73.87 -75.87 -82.35
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 -32.12 -47.28 -51.70 -53.11 -57.66
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

Disc Medicine (NASDAQ: IRON) continues to look like a classic development-stage biotech: no revenue yet, significant R&D spending, recurring losses, and a balance sheet still dominated by cash and short-term investments. The good news is that the company remains well capitalized. The more important question for investors is whether its cash runway can support the pipeline long enough to reach meaningful clinical or regulatory milestones.

Top-line revenue remains at zero across every period provided, so the investment case is still entirely tied to pipeline execution rather than commercial growth. Operating losses are still substantial, but they have been fairly steady rather than rapidly worsening, which is common for a company at this stage.

  • Disc Medicine ended Q1 2026 with $730.2 million in cash and short-term investments, giving it a strong liquidity cushion.
  • The company’s balance sheet remains clean, with only $61.8 million in total liabilities versus $688.4 million in equity at Q1 2026.
  • Interest and investment income remains meaningful, helping offset some operating losses; Q1 2026 other income was $6.1 million.
  • Cash generation from the investment portfolio has helped soften the impact of operating burn and support liquidity.
  • R&D spending remains high but fairly stable, at $45.9 million in Q1 2026 versus $46.2 million in Q4 2025.
  • SG&A also appears controlled, with Q1 2026 expense of $23.6 million, up modestly from $20.7 million in the prior quarter.
  • The company continues to post quarterly net losses around the $60 million range, which is expected for a clinical-stage biotech but still underscores execution risk.
  • Q1 2026 operating cash burn was still heavy at -$62.2 million, showing the business is not yet self-funding.
  • Cash and equivalents fell to $88.9 million in Q1 2026 from $140.7 million in Q3 2025, indicating a meaningful decline in near-cash balances.
  • The share count has risen over time, which suggests ongoing dilution risk; Q1 2026 basic shares were 38.5 million, up from 33.3 million in Q1 2025.

Longer-term trend: Disc Medicine’s cash position remains much stronger than it was in early 2024, but the trend from late 2025 into Q1 2026 shows that capital is still being consumed quickly. Total current assets have declined from $747.5 million in Q1 2026 to $705.6 million in Q1 2025 and $351.9 million in Q1 2024, reflecting both spending and portfolio shifts.

Bottom line: IRON has the balance sheet strength to keep advancing its pipeline for now, and that is a major positive. However, investors should expect continued losses, ongoing cash burn, and the possibility of dilution if development timelines extend or clinical spending rises. For biotech investors, the stock will likely be driven more by trial/readout news than by the financial statements alone.

06/11/26 02:37 PM ETAI Generated. May Contain Errors.

Disc Medicine Financials - Frequently Asked Questions

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

Disc Medicine's net income appears to be on an upward trend, with a most recent value of -$212.18 million in 2025, rising from -$40.84 million in 2020. The previous period was -$109.36 million in 2024. View Disc Medicine's forecast to see where analysts expect Disc Medicine to go next.

Disc Medicine's total operating income in 2025 was -$236.02 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $236.02 million

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

Disc Medicine's total liabilities were at $67.05 million at the end of 2025, a 26.1% increase from 2024, and a 122.2% increase since 2020.

In the past 5 years, Disc Medicine's cash and equivalents has ranged from $4.50 million in 2020 to $360.38 million in 2023, and is currently $91.15 million as of their latest financial filing in 2025.

Over the last 5 years, Disc Medicine's book value per share changed from -1.41 in 2020 to 19.60 in 2025, a change of -1,492.7%.


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Financial statements for NASDAQ:IRON last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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