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Seres Therapeutics (MCRB) Financials

Seres Therapeutics logo
$6.11 0.00 (0.00%)
Closing price 07/10/2026 04:00 PM Eastern
Extended Trading
$6.10 -0.02 (-0.25%)
As of 07/10/2026 05:31 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 Seres Therapeutics

Annual Income Statements for Seres Therapeutics

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 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		 -55 -92 -89 -99 -70 -89 -66 -250 -114 0.14 5.70
Consolidated Net Income / (Loss)		 -55 -92 -89 -99 -70 -89 -66 -250 -114 0.14 5.70
Net Income / (Loss) Continuing Operations		 -55 -92 -89 -99 -70 -89 -66 -184 -190 -126 5.70
Total Pre-Tax Income 		-55 -92 -89 -99 -70 -89 -66 -184 -190 -126 5.70
Total Operating Income		 -55 -93 -91 -100 -72 -88 -64 -180 -195 -121 -94
Total Gross Profit		 0.00 22 32 28 35 33 145 0.00 0.00 0.00 0.79
Total Revenue		 0.00 22 32 28 35 33 145 0.00 0.00 0.00 0.79
Operating Revenue		 0.00 22 32 28 35 33 145 - 0.00 0.00 0.79
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 55 115 123 129 106 121 209 180 195 121 95
Selling, General & Admin Expense		 17 33 34 33 25 31 69 70 78 53 39
Research & Development Expense		 38 82 89 96 80 91 142 110 118 65 49
Other Operating Expenses / (Income)		 - - - - 0.00 0.00 -1.73 0.00 0.00 3.53 6.54
Total Other Income / (Expense), net		 0.08 1.26 2.02 1.34 1.60 -1.00 -1.09 -3.67 4.97 -4.46 100
Interest Expense		 -0.08 - - 0.00 0.50 2.92 2.91 6.02 2.47 0.00 0.00
Interest & Investment Income		 - 1.26 1.59 1.17 1.03 0.95 2.87 3.06 7.30 3.97 2.23
Other Income / (Expense), net		 -0.01 - 0.43 0.17 1.07 0.98 -1.05 -0.71 0.13 -8.42 97
Net Income / (Loss) Discontinued Operations		 - - - - - - - -67 76 126 0.00
Basic Earnings per Share		 ($2.33) ($2.30) ($2.21) ($2.43) ($1.24) ($1.12) ($0.72) ($2.31) ($17.77) $0.00 $0.64
Weighted Average Basic Shares Outstanding		 23.53M 39.85M 40.45M 40.74M 56.65M 79.79M 91.70M 108.08M 6.40M 7.77M 8.86M
Diluted Earnings per Share		 ($2.33) ($2.30) ($2.21) ($2.43) ($1.24) ($1.12) ($0.72) ($2.31) ($17.77) $0.00 $0.64
Weighted Average Diluted Shares Outstanding		 23.53M 39.85M 40.45M 40.74M 56.65M 79.79M 91.70M 108.08M 6.40M 7.77M 8.87M
Weighted Average Basic & Diluted Shares Outstanding		 23.53M 39.85M 40.45M 40.74M 56.65M 79.79M 91.70M 126.08M 151.01M 174.36M 9.59M

Quarterly Income Statements for Seres Therapeutics

This table shows Seres Therapeutics' 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		 -48 -41 -40 -33 89 -16 33 -20 8.20 -15 -20
Consolidated Net Income / (Loss)		 -48 -41 -40 -33 89 -16 33 -20 8.20 -15 -20
Net Income / (Loss) Continuing Operations		 -41 -124 -33 -26 -51 -1.73 0.00 -20 8.20 -15 0.00
Total Pre-Tax Income 		-41 -124 -33 -26 -51 -1.73 33 -20 8.20 -15 -20
Total Operating Income		 -45 -129 -34 -29 -29 -21 -27 -25 -22 -19 -21
Total Gross Profit		 0.00 -126 0.00 0.00 0.00 - 0.00 0.00 0.35 0.44 0.36
Total Revenue		 0.00 -126 0.00 0.00 0.00 - 0.00 0.00 0.35 0.44 0.36
Operating Revenue		 - - - - 0.00 - 0.00 - 0.35 - 0.36
Total Cost of Revenue		 0.00 - 0.00 0.00 0.00 - 0.00 0.00 0.00 - 0.00
Total Operating Expenses		 45 3.52 34 29 29 21 27 25 23 20 21
Selling, General & Admin Expense		 19 7.55 15 13 13 8.95 12 10 9.48 7.54 8.07
Research & Development Expense		 25 1.68 19 16 16 8.56 12 13 13 12 13
Other Operating Expenses / (Income)		 - - 0.00 0.00 0.00 - 3.53 1.69 0.74 0.59 0.00
Total Other Income / (Expense), net		 3.57 4.97 1.54 2.68 -22 19 60 5.03 31 4.04 0.99
Interest & Investment Income		 2.57 1.97 1.65 1.23 0.65 0.44 0.62 0.55 0.62 0.45 0.33
Other Income / (Expense), net		 1.00 0.34 0.51 1.45 -23 11 59 4.48 30 3.60 0.67
Net Income / (Loss) Discontinued Operations		 -6.84 - -7.23 -6.67 140 - 0.00 0.00 0.00 - 0.00
Basic Earnings per Share		 ($0.37) ($6.44) ($5.49) ($4.34) $11.63 ($0.09) $3.76 ($2.27) $0.94 ($1.73) ($2.08)
Weighted Average Basic Shares Outstanding		 128.29M 6.40M 7.31M 7.58M 7.63M 155.40M 8.70M 8.74M 8.76M 8.86M 9.58M
Diluted Earnings per Share		 ($0.37) ($6.44) ($5.49) ($4.34) $11.63 ($0.09) $3.75 ($2.27) $0.94 ($1.73) ($2.08)
Weighted Average Diluted Shares Outstanding		 128.29M 6.40M 7.31M 7.58M 7.63M 155.40M 8.71M 8.74M 8.77M 8.87M 9.58M

Annual Cash Flow Statements for Seres Therapeutics

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 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		 -40 -20 -20 50 -21 51 72 -17 -35 -97 15
Net Cash From Operating Activities		 -41 44 -76 -63 -77 -94 6.69 -229 -117 -149 1.12
Net Cash From Continuing Operating Activities		 -41 44 -76 -63 -77 -94 6.69 -229 -117 -149 1.12
Net Income / (Loss) Continuing Operations		 -55 -92 -89 -99 -70 -89 -66 -250 -114 0.14 5.70
Consolidated Net Income / (Loss)		 -55 -92 -89 -99 -70 -89 -66 -250 -114 0.14 5.70
Depreciation Expense		 0.73 4.21 7.26 7.86 7.60 6.58 5.95 6.63 6.24 5.47 4.13
Amortization Expense		 0.00 -0.39 0.22 -0.21 0.11 1.00 3.02 1.39 0.90 1.41 0.00
Non-Cash Adjustments To Reconcile Net Income		 10 17 17 17 11 11 22 32 48 -92 21
Changes in Operating Assets and Liabilities, net		 3.14 115 -11 12 -25 -23 42 -18 -59 -63 -29
Net Cash From Investing Activities		 -137 -66 56 112 -31 -159 64 82 11 142 -0.04
Net Cash From Continuing Investing Activities		 -137 -66 56 112 -31 -159 64 82 11 142 -0.04
Purchase of Property, Plant & Equipment		 -4.36 -21 -4.68 -1.94 -1.00 -0.59 -9.57 -9.82 -7.98 -0.38 -0.25
Purchase of Investments		 -268 -291 -98 -22 -46 -218 -96 -48 -4.43 0.00 0.00
Sale of Property, Plant & Equipment		 - - - - - - - - 0.00 0.00 0.21
Divestitures		 - - - - - - - 0.00 0.00 141 0.00
Sale and/or Maturity of Investments		 136 246 158 136 17 60 170 140 23 1.40 0.00
Net Cash From Financing Activities		 138 2.14 0.08 0.27 86 303 1.18 130 72 -90 14
Net Cash From Continuing Financing Activities		 138 2.14 0.08 0.27 86 303 1.18 130 72 -90 14
Repayment of Debt		 -2.60 - - 0.00 -0.43 0.00 -0.95 -1.91 -53 -128 0.00
Issuance of Debt		 - - - 0.00 25 0.00 0.00 28 103 0.00 0.00
Issuance of Common Equity		 143 - - 0.32 61 244 0.83 103 20 24 13
Other Financing Activities, net		 0.26 2.14 0.08 -0.05 0.66 59 1.30 0.97 0.88 14 0.50
Cash Interest Paid		 0.16 0.11 0.00 0.00 0.22 2.45 2.45 4.93 13 11 0.00

Quarterly Cash Flow Statements for Seres Therapeutics

This table details how cash moves in and out of Seres Therapeutics' 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		 -60 -42 -17 -39 -4.41 -37 28 -13 2.26 -1.87 -16
Net Cash From Operating Activities		 -59 -47 -35 -40 -35 -39 27 -13 2.21 -15 -16
Net Cash From Continuing Operating Activities		 -59 -47 -35 -40 -35 -39 27 -13 2.21 -15 -16
Net Income / (Loss) Continuing Operations		 -48 -41 -40 -33 89 -16 33 -20 8.20 -15 -20
Consolidated Net Income / (Loss)		 -48 -41 -40 -33 89 -16 33 -20 8.20 -15 -20
Depreciation Expense		 1.68 1.63 1.56 1.42 1.40 1.09 1.08 1.06 1.04 0.95 0.78
Non-Cash Adjustments To Reconcile Net Income		 9.31 7.10 12 7.79 -116 3.73 4.17 6.28 5.06 5.26 4.38
Changes in Operating Assets and Liabilities, net		 -23 -15 -9.15 -17 -9.59 -28 -11 -0.78 -12 -5.59 -1.61
Net Cash From Investing Activities		 -1.80 -0.88 -0.06 1.30 141 -0.09 -0.03 -0.18 -0.01 0.18 0.00
Net Cash From Continuing Investing Activities		 -1.80 -0.88 -0.06 1.30 141 -0.09 -0.03 -0.18 -0.01 0.18 0.00
Purchase of Property, Plant & Equipment		 -1.80 -0.88 -0.06 -0.10 -0.13 -0.09 -0.03 -0.18 -0.01 -0.03 0.00
Net Cash From Financing Activities		 1.44 6.43 19 - -111 1.74 1.18 - 0.06 13 0.43
Net Cash From Continuing Financing Activities		 1.44 6.43 19 - -111 1.74 1.18 - 0.06 13 0.43
Issuance of Common Equity		 0.92 6.43 19 - 3.52 1.74 1.18 - 0.05 12 0.43

Annual Balance Sheets for Seres Therapeutics

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 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		 217 273 190 120 132 343 355 349 359 140 138
Total Current Assets		 208 198 155 93 100 269 304 195 175 39 49
Cash & Equivalents		 74 55 36 86 65 116 180 163 128 31 46
Accounts Receivable		 - - - - 1.79 9.39 - - 0.00 0.00 0.16
Prepaid Expenses		 2.53 5.13 5.10 6.85 3.59 5.77 13 13 8.05 5.81 3.09
Other Current Assets		 - - - - - - - 0.00 - 2.07 0.36
Plant, Property, & Equipment, net		 7.75 36 33 26 19 14 18 23 18 12 7.64
Total Noncurrent Assets		 1.54 38 1.51 1.51 13 60 33 131 166 90 81
Other Noncurrent Operating Assets		 - - 0.11 0.11 11 9.04 31 130 101 90 81
Total Liabilities & Shareholders' Equity		 217 273 190 120 132 343 355 349 359 140 138
Total Liabilities		 12 140 129 169 181 168 223 338 403 126 94
Total Current Liabilities		 11 30 32 42 46 46 82 86 99 41 19
Accounts Payable		 5.40 7.59 7.03 6.42 4.86 4.02 14 17 3.64 4.08 1.68
Accrued Expenses		 5.52 11 13 15 11 14 45 60 23 28 7.25
Other Current Liabilities		 - - - - 4.46 5.12 6.61 3.60 5.59 8.67 10
Total Noncurrent Liabilities		 0.59 110 97 126 135 122 141 252 305 85 75
Other Noncurrent Operating Liabilities		 - 0.00 1.13 0.64 16 12 29 109 94 85 75
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		 205 133 61 -48 -48 175 132 11 -45 14 44
Total Preferred & Common Equity		 205 133 61 -48 -48 175 132 11 -45 14 44
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		 205 133 61 -48 -48 175 132 11 -45 14 44
Common Stock		 288 307 324 341 411 724 746 875 933 992 1,017
Retained Earnings		 -83 -174 -264 -389 -460 -549 -614 -865 -978 -978 -972

Quarterly Balance Sheets for Seres Therapeutics

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

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 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		 368 341 322 179 164 144 143 118
Total Current Assets		 214 165 149 73 66 49 52 32
Cash & Equivalents		 170 111 71 67 59 45 48 30
Accounts Receivable		 - - - - 2.76 0.88 0.35 0.23
Prepaid Expenses		 9.10 4.61 6.44 6.10 4.47 2.42 3.11 1.77
Other Current Assets		 17 7.42 19 - - - 0.43 0.00
Plant, Property, & Equipment, net		 24 19 18 13 11 9.62 8.58 6.85
Total Noncurrent Assets		 130 157 155 93 88 85 83 79
Other Noncurrent Operating Assets		 128 156 155 93 88 85 83 79
Total Liabilities & Shareholders' Equity		 368 341 322 179 164 144 143 118
Total Liabilities		 383 401 409 155 114 111 100 91
Total Current Liabilities		 79 98 108 65 31 31 22 19
Accounts Payable		 8.96 5.22 4.81 8.25 2.17 2.20 1.68 2.34
Accrued Expenses		 54 76 86 18 6.22 5.81 11 6.14
Other Current Liabilities		 6.28 17 17 39 23 23 9.92 11
Total Noncurrent Liabilities		 304 303 301 90 82 80 77 72
Other Noncurrent Operating Liabilities		 107 105 103 90 82 80 77 72
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -15 -60 -87 24 50 33 44 26
Total Preferred & Common Equity		 -15 -60 -87 24 50 33 44 26
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -15 -60 -87 24 50 33 44 26
Common Stock		 922 959 964 986 996 998 1,001 1,019
Retained Earnings		 -937 -1,018 -1,051 -962 -945 -965 -957 -992

Annual Metrics And Ratios for Seres Therapeutics

This table displays calculated financial ratios and metrics derived from Seres Therapeutics' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 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
DEI Shares Outstanding		 39,055,767.00 40,355,753.00 40,530,139.00 40,855,909.00 69,993,952.00 91,248,238.00 91,847,137.00 124,591,741.00 129,257,199.00 - 9,046,519.00
DEI Adjusted Shares Outstanding		 1,952,788.00 2,017,788.00 2,026,507.00 2,042,795.00 3,499,698.00 4,562,412.00 4,592,357.00 6,229,587.00 6,462,860.00 - 9,046,519.00
DEI Earnings Per Adjusted Shares Outstanding		 -28.05 -45.39 -44.11 -48.43 -20.08 -19.55 -14.28 -40.16 -17.60 - 0.63
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 47.48% -11.94% 22.07% -3.74% 336.33% -100.00% 0.00% 0.00% 0.00%
EBITDA Growth		 -231.91% -64.44% 6.21% -10.74% 31.76% -26.11% 28.91% -205.12% -8.82% 34.59% 106.19%
EBIT Growth		 -232.50% -69.22% 2.01% -10.05% 29.27% -23.07% 24.80% -175.59% -7.94% 33.46% 102.67%
NOPAT Growth		 -263.72% -69.24% 1.56% -9.73% 28.33% -22.61% 26.82% -178.97% -8.44% 37.82% -10.66%
Net Income Growth		 -227.85% -67.18% 2.40% -10.70% 28.97% -26.82% 26.42% -281.46% 54.54% 100.12% 4,088.24%
EPS Growth		 12.73% 1.29% 3.91% -9.95% 48.97% 9.68% 35.71% -220.83% 54.54% 100.00% 0.00%
Operating Cash Flow Growth		 -294.32% 207.53% -271.95% 16.78% -21.74% -22.33% 107.14% -3,521.29% 48.71% -26.63% 100.75%
Free Cash Flow Firm Growth		 -398.08% 155.68% -413.83% 66.71% -151.70% -30.00% 82.12% -933.37% -82.62% 74.06% -63.28%
Invested Capital Growth		 74.14% -13,633.85% 7.20% -57.28% 6.69% 12.42% -29.96% 11.39% 100.74% -2,013.27% 90.90%
Revenue Q/Q Growth		 0.00% 16.22% 0.06% 36.60% -8.02% 42.72% -6.66% -100.00% -100.00% -100.00% 124.79%
EBITDA Q/Q Growth		 0.00% -10.67% -3.73% 7.93% 5.35% 3.50% -131.59% 21.64% -47.58% 20.03% 11.45%
EBIT Q/Q Growth		 0.00% -11.90% -4.19% 7.63% 4.77% 2.54% -93.35% 20.99% -45.32% 19.65% 35.67%
NOPAT Q/Q Growth		 0.00% -12.17% -4.68% 7.48% 3.33% 1.45% -95.68% 20.96% -45.66% 14.84% 9.15%
Net Income Q/Q Growth		 0.00% -12.57% -4.29% 7.19% 3.45% 0.59% -93.85% -8.12% 19.50% 100.53% 5.60%
EPS Q/Q Growth		 0.00% -223.94% -3.76% 7.60% 21.52% -1.82% -7,100.00% 14.76% 19.50% 100.00% 3.23%
Operating Cash Flow Q/Q Growth		 -22.32% -17.37% 0.26% 34.61% -53.63% -4.32% -83.54% -0.45% 4.39% 5.48% 104.84%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 7.97% 59.63% -93.71% -7.38% -161.20% 28.36% -107.66% 52.84% 23.15%
Invested Capital Q/Q Growth		 0.00% 5.50% -4.90% -34.16% -2.12% 3.39% 11.47% -4.27% 101.04% 60.36% 60.72%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 0.00% 0.00% 0.00% 100.00%
EBITDA Margin		 0.00% -408.99% -260.11% -327.12% -182.87% -239.57% -39.03% 0.00% 0.00% 0.00% 963.50%
Operating Margin		 0.00% -426.53% -284.72% -354.77% -208.31% -265.33% -44.50% 0.00% 0.00% 0.00% -11,910.14%
EBIT Margin		 0.00% -426.53% -283.40% -354.17% -205.22% -262.38% -45.22% 0.00% 0.00% 0.00% 439.67%
Profit (Net Income) Margin		 0.00% -420.74% -278.44% -350.03% -203.68% -268.33% -45.25% 0.00% 0.00% 0.00% 721.93%
Tax Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 136.27% 59.81% -0.11% 100.00%
Interest Burden Percent		 99.85% 98.64% 98.25% 98.83% 99.25% 102.27% 100.06% 101.64% 97.52% 96.94% 164.20%
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)		 -34.81% -54.18% -92.46% -1,563.81% 145.85% -140.99% -42.83% -351.62% 667.53% -0.88% 19.64%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -29,062.87% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -37.93% -39.37% -64.59% -56.00% -36.67% -18.78% 0.00% 0.00% 0.00% 2.50%
Return on Assets (ROA)		 0.00% -37.41% -38.68% -63.83% -55.58% -37.50% -18.80% 0.00% 0.00% 0.00% 4.10%
Return on Common Equity (ROCE)		 -19.76% -54.18% -92.46% -1,563.81% 145.85% -140.99% -42.83% -351.62% 667.53% -0.88% 19.64%
Return on Equity Simple (ROE_SIMPLE)		 -26.67% -69.05% -147.25% 205.94% 145.43% -51.00% -49.87% -2,319.92% 0.00% 0.99% 0.00%
Net Operating Profit after Tax (NOPAT)		 -38 -65 -64 -70 -50 -62 -45 -126 -137 -85 -94
NOPAT Margin		 0.00% -298.57% -199.30% -248.34% -145.81% -185.73% -31.15% 0.00% 0.00% 0.00% -11,910.14%
Net Nonoperating Expense Percent (NNEP)		 -10.31% -12.46% -13.99% -25.80% -26.27% -15.62% -7.46% -62.16% 53.16% -1,137.73% 260.37%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -203.69% -240.91% -616.08% -212.52%
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% 149.85% 106.04% 115.31% 71.72% 92.65% 47.79% 0.00% 0.00% 0.00% 4,962.74%
R&D to Revenue		 0.00% 376.68% 278.68% 339.46% 232.26% 272.68% 97.91% 0.00% 0.00% 0.00% 6,218.00%
Operating Expenses to Revenue		 0.00% 526.53% 384.72% 454.77% 308.31% 365.33% 144.50% 0.00% 0.00% 0.00% 12,010.14%
Earnings before Interest and Taxes (EBIT)		 -55 -93 -91 -100 -71 -87 -66 -181 -195 -130 3.47
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -54 -89 -83 -92 -63 -80 -57 -173 -188 -123 7.60
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.67 3.01 6.77 0.00 0.00 12.79 5.82 64.71 0.00 10.29 3.04
Price to Tangible Book Value (P/TBV)		 6.67 3.01 6.77 0.00 0.00 12.79 5.82 64.71 0.00 10.29 3.04
Price to Revenue (P/Rev)		 0.00 18.36 12.80 6.53 7.00 67.31 5.28 0.00 0.00 0.00 170.61
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,043.26 23.63
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% 0.10% 4.23%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 172.26 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 8.28 8.37 3.69 4.92 58.88 3.43 0.00 0.00 0.00 112.61
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 11.69
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 25.61
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 4.10 0.00 0.00 0.00 0.00 74.33 0.00 0.00 0.00 79.54
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 8.05 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 0.08 0.15 -0.14 -0.51 0.14 0.19 4.73 -2.26 0.00 0.00
Long-Term Debt to Equity		 0.00 0.08 0.15 -0.14 -0.51 0.14 0.19 4.69 -2.26 0.00 0.00
Financial Leverage		 -1.01 -1.26 -1.88 -17.61 1.58 -2.78 -1.79 -2.81 2.52 -0.48 -1.32
Leverage Ratio		 1.06 1.45 2.39 24.50 -2.62 3.76 2.28 4.95 -20.76 -16.04 4.79
Compound Leverage Factor		 1.06 1.43 2.35 24.21 -2.60 3.85 2.28 5.03 -20.25 -15.55 7.87
Debt to Total Capital		 0.28% 7.48% 12.90% -16.42% -104.11% 12.56% 15.78% 82.56% 179.13% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.23% 0.00% 0.74% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.28% 7.48% 12.90% -16.42% -104.11% 12.33% 15.78% 81.82% 179.13% 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% 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		 99.72% 92.52% 87.10% 116.42% 204.11% 87.44% 84.22% 17.44% -79.13% 100.00% 100.00%
Debt to EBITDA		 -0.01 -0.12 -0.11 -0.07 -0.39 -0.32 -0.44 -0.30 -0.54 0.00 0.00
Net Debt to EBITDA		 3.78 2.46 1.71 0.87 1.13 3.52 4.74 0.76 0.15 0.00 0.00
Long-Term Debt to EBITDA		 -0.01 -0.12 -0.11 -0.07 -0.39 -0.31 -0.44 -0.29 -0.54 0.00 0.00
Debt to NOPAT		 -0.02 -0.17 -0.14 -0.10 -0.49 -0.41 -0.55 -0.41 -0.74 0.00 0.00
Net Debt to NOPAT		 5.33 3.37 2.23 1.15 1.42 4.53 5.94 1.05 0.20 0.00 0.00
Long-Term Debt to NOPAT		 -0.02 -0.17 -0.14 -0.10 -0.49 -0.40 -0.55 -0.40 -0.74 0.00 0.00
Altman Z-Score		 71.19 0.51 -0.67 -5.87 -5.07 5.77 0.18 -3.56 -5.09 -12.20 -8.64
Noncontrolling Interest Sharing Ratio		 43.23% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 19.01 6.51 4.90 2.20 2.18 5.79 3.69 2.28 1.78 0.94 2.56
Quick Ratio		 18.78 6.34 4.74 2.04 2.10 5.67 3.53 2.12 1.30 0.80 2.38
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -40 22 -70 -23 -59 -77 -14 -141 -258 -67 -109
Operating Cash Flow to CapEx		 -936.36% 204.36% -1,615.12% -3,244.91% -7,636.73% -15,839.26% 69.91% -2,329.86% -1,471.52% -39,107.63% 2,659.52%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -117.35 -26.19 -4.70 -23.50 -104.69 0.00 0.00
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 -152.43 -32.01 2.30 -38.01 -47.55 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -154.43 -32.22 -0.99 -39.64 -50.78 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.09 0.14 0.18 0.27 0.14 0.42 0.00 0.00 0.00 0.01
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 5.95 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 0.99 0.93 0.95 1.51 1.99 9.10 0.00 0.00 0.00 0.08
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 61.38 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 61.38 0.00 0.00 0.00 0.00 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -0.64 -88 -82 -128 -120 -105 -136 -121 0.89 -17 -1.55
Invested Capital Turnover		 0.00 -0.49 -0.38 -0.27 -0.28 -0.30 -1.20 0.00 0.00 0.00 -0.09
Increase / (Decrease) in Invested Capital		 1.84 -87 6.34 -47 8.60 15 -31 16 122 -18 15
Enterprise Value (EV)		 1,166 180 269 104 170 1,956 497 566 153 111 89
Market Capitalization		 1,370 400 411 185 241 2,236 765 698 181 142 135
Book Value per Share		 $5.26 $3.29 $1.50 ($1.18) ($0.69) $1.92 $1.43 $0.09 ($0.35) $0.08 $4.89
Tangible Book Value per Share		 $5.26 $3.29 $1.50 ($1.18) ($0.69) $1.92 $1.43 $0.09 ($0.35) $0.08 $4.89
Total Capital		 206 143 70 -41 -24 200 156 62 57 14 44
Total Debt		 0.59 11 8.99 6.78 25 25 25 51 102 0.00 0.00
Total Long-Term Debt		 0.59 11 8.99 6.78 25 25 25 51 102 0.00 0.00
Net Debt		 -204 -219 -142 -80 -72 -280 -268 -132 -28 -31 -46
Capital Expenditures (CapEx)		 4.36 21 4.68 1.94 1.00 0.59 9.57 9.82 7.98 0.38 0.04
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -8.39 -25 -27 -35 -41 -31 -69 -72 -51 -33 -16
Debt-free Net Working Capital (DFNWC)		 197 168 123 51 54 223 221 110 77 -2.55 30
Net Working Capital (NWC)		 197 168 123 51 54 222 221 109 77 -2.55 30
Net Nonoperating Expense (NNE)		 16 27 25 29 20 27 20 124 -23 -85 -100
Net Nonoperating Obligations (NNO)		 -206 -221 -142 -80 -72 -280 -268 -132 46 -31 -46
Total Depreciation and Amortization (D&A)		 0.73 3.82 7.48 7.65 7.71 7.58 8.97 8.02 7.15 6.88 4.13
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -116.38% -82.65% -124.51% -117.72% -92.73% -47.84% 0.00% 0.00% 0.00% -1,991.38%
Debt-free Net Working Capital to Revenue		 0.00% 771.44% 384.59% 179.09% 157.07% 670.83% 152.75% 0.00% 0.00% 0.00% 3,809.13%
Net Working Capital to Revenue		 0.00% 771.44% 384.59% 179.09% 157.07% 669.46% 152.75% 0.00% 0.00% 0.00% 3,809.13%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($2.33) ($2.30) ($2.21) ($2.43) ($1.24) ($1.12) ($0.72) ($2.31) ($17.80) $0.00 $0.64
Adjusted Weighted Average Basic Shares Outstanding		 39.19M 40.37M 40.65M 41.05M 71.07M 91.55M 92.01M 108.08M 6.40M 155.40M 8.86M
Adjusted Diluted Earnings per Share		 ($2.33) ($2.30) ($2.21) ($2.43) ($1.24) ($1.12) ($0.72) ($2.31) ($17.80) $0.00 $0.64
Adjusted Weighted Average Diluted Shares Outstanding		 39.19M 40.37M 40.65M 41.05M 71.07M 91.55M 92.01M 108.08M 6.40M 155.40M 8.87M
Adjusted Basic & Diluted Earnings per Share		 ($2.33) ($2.30) ($2.21) ($2.43) ($1.24) ($1.12) ($0.72) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 23.53M 39.85M 40.45M 40.74M 56.65M 79.79M 91.70M 126.08M 7.55M 174.36M 9.59M
Normalized Net Operating Profit after Tax (NOPAT)		 -38 -65 -64 -70 -49 -62 -45 -126 -137 -85 -66
Normalized NOPAT Margin		 0.00% -298.57% -199.30% -248.34% -142.79% -185.73% -31.15% 0.00% 0.00% 0.00% -8,337.10%
Pre Tax Income Margin		 0.00% -420.74% -278.44% -350.03% -203.68% -268.33% -45.25% 0.00% 0.00% 0.00% 721.93%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -141.06 -29.80 -22.52 -30.00 -79.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -100.23 -21.10 -15.51 -20.92 -55.34 0.00 0.00
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -143.05 -30.01 -25.81 -31.63 -82.23 0.00 0.00
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -102.22 -21.30 -18.80 -22.55 -58.57 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% 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%

Quarterly Metrics And Ratios for Seres Therapeutics

This table displays calculated financial ratios and metrics derived from Seres Therapeutics' 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		 128,204,614.00 129,257,199.00 151,009,462.00 151,447,763.00 151,730,995.00 - 174,358,753.00 8,732,422.00 8,754,570.00 9,046,519.00 9,586,298.00
DEI Adjusted Shares Outstanding		 6,410,231.00 6,462,860.00 7,550,473.00 7,572,388.00 7,586,550.00 - 8,717,938.00 8,732,422.00 8,754,570.00 9,046,519.00 9,586,298.00
DEI Earnings Per Adjusted Shares Outstanding		 -7.47 -6.38 -5.32 -4.34 11.70 - 3.75 -2.27 0.94 -1.70 -2.08
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -100.00% -1,946.99% 100.00% -100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Growth		 27.23% -343,586.49% 53.66% -151.41% -20.02% 92.77% 203.86% 24.21% 117.32% 5.00% -158.71%
EBIT Growth		 26.30% -7,262.09% 51.70% -157.12% -18.58% 92.04% 194.49% 25.61% 114.68% 5.46% -163.12%
NOPAT Growth		 24.57% -7,379.32% 51.20% -140.81% 34.58% 83.61% -12.98% 13.82% -10.08% 32.80% 46.27%
Net Income Growth		 20.25% 40.04% 43.61% -170.61% 285.51% 62.09% 181.43% 39.60% -90.76% 1.93% -160.93%
EPS Growth		 24.49% 40.04% 43.61% -170.61% 285.51% 70.97% 181.43% 47.70% -91.92% 13.93% -155.47%
Operating Cash Flow Growth		 0.55% 10.20% 53.99% -160.33% 41.47% 18.14% 176.37% 66.62% 106.36% 62.17% -160.80%
Free Cash Flow Firm Growth		 22.21% -1,168.10% 7.08% -314.28% -1.53% 101.43% -52.75% 15.51% 2.19% -1,169.01% 77.92%
Invested Capital Growth		 26.44% 100.74% 32.77% 48.11% 49.70% -2,013.27% 88.08% 77.73% 90.81% 90.90% 60.22%
Revenue Q/Q Growth		 -100.00% 0.00% 100.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.79% -18.26%
EBITDA Q/Q Growth		 -183.62% -206.17% 74.89% 20.02% -95.21% 81.54% 312.34% -158.36% 144.62% -271.80% -31.24%
EBIT Q/Q Growth		 -190.78% -196.26% 73.72% 19.18% -88.46% 80.11% 292.09% -163.63% 137.18% -308.01% -28.25%
NOPAT Q/Q Growth		 -163.02% -190.38% 73.40% 16.17% -1.04% 27.27% -34.93% 36.05% -29.05% 39.65% -7.90%
Net Income Q/Q Growth		 -202.80% 13.80% 2.70% 18.10% 370.08% -117.61% 309.00% -160.75% 141.32% -286.92% -29.85%
EPS Q/Q Growth		 -202.78% 13.80% 2.70% 18.10% 370.08% -115.52% 309.00% -160.53% 141.41% -284.04% -20.23%
Operating Cash Flow Q/Q Growth		 -189.80% 19.84% 25.82% -12.98% 12.89% -12.12% 169.21% -149.38% 116.60% -766.82% -11.22%
Free Cash Flow Firm Q/Q Growth		 -284.23% -243.34% 72.52% -23.28% 12.71% 104.85% -3,798.48% 31.81% -1.05% 52.76% 32.18%
Invested Capital Q/Q Growth		 20.70% 101.04% -8,009.34% 20.62% 23.13% 60.36% 50.71% -48.25% 68.29% 60.72% -115.44%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 100.00% 100.00% 100.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,458.69% -3,384.93% -5,434.92%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -6,403.70% -4,423.97% -5,839.94%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,161.25% -3,602.74% -5,653.07%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,337.32% -3,501.14% -5,562.29%
Tax Burden Percent		 116.67% 33.13% 121.97% 125.48% -173.95% 902.31% 100.00% 100.00% 100.00% 100.00% 100.00%
Interest Burden Percent		 94.10% 96.41% 96.96% 95.52% 98.74% 16.86% 101.93% 97.32% 108.15% 97.18% 98.39%
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)		 -538.57% 667.53% 153.67% 502.96% -579.24% -0.88% -1,573.41% -317.66% 15.95% 19.64% -121.87%
Cash Return on Invested Capital (CROIC)		 0.00% -29,062.87% 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% 4.71% -20.45% -46.02%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.09% -19.87% -45.28%
Return on Common Equity (ROCE)		 -538.57% 667.53% 153.67% 502.96% -579.24% -0.88% -1,573.41% -317.66% 15.95% 19.64% -121.87%
Return on Equity Simple (ROE_SIMPLE)		 934.15% 0.00% 138.41% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -31 -91 -24 -20 -20 -15 -27 -17 -22 -14 -15
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -6,403.70% -3,096.78% -4,087.96%
Net Nonoperating Expense Percent (NNEP)		 -13.12% 114.90% -47.64% -25.60% 159.41% 10.53% 172.61% -34.54% 53.61% -4.63% -11.90%
Return On Investment Capital (ROIC_SIMPLE)		 - -159.87% -57.03% -131.06% -85.37% -107.73% -53.97% -52.86% -51.44% -30.68% -55.23%
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% 2,699.72% 1,721.23% 2,254.19%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3,594.30% 2,667.58% 3,685.75%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 6,503.70% 4,523.97% 5,939.94%
Earnings before Interest and Taxes (EBIT)		 -44 -129 -34 -27 -52 -10 32 -20 7.59 -16 -20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -42 -127 -32 -26 -50 -9.20 33 -19 8.63 -15 -19
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 6.00 10.29 2.42 2.94 3.85 3.04 3.21
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 6.00 10.29 2.42 2.94 3.85 3.04 3.21
Price to Revenue (P/Rev)		 2.40 0.00 223.94 0.00 0.00 0.00 0.00 0.00 479.88 170.61 74.13
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 1,043.26 1.67 1.13 31.23 23.63 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% 0.10% 59.76% 88.61% 3.20% 4.23% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 172.26 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 1.85 0.00 203.68 0.00 0.00 0.00 0.00 0.00 344.16 112.61 48.12
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 17.71 11.69 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 47.24 25.61 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 79.54 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		 -6.69 -2.26 -1.71 -1.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 -6.69 -2.26 -1.71 -1.18 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -4.84 2.52 0.63 1.53 -15.58 -0.48 7.49 0.26 -1.69 -1.32 -1.15
Leverage Ratio		 12.95 -20.76 -5.68 -11.30 62.12 -16.04 -54.51 -8.60 4.77 4.79 3.66
Compound Leverage Factor		 12.19 -20.02 -5.51 -10.79 61.34 -2.70 -55.56 -8.37 5.15 4.66 3.60
Debt to Total Capital		 117.58% 179.13% 241.32% 664.68% 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% 0.00%
Long-Term Debt to Total Capital		 117.58% 179.13% 241.32% 664.68% 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% 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		 -17.58% -79.13% -141.32% -564.68% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -0.79 -0.54 -0.68 -0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.55 0.15 0.07 -0.14 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -0.79 -0.54 -0.68 -0.45 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -1.08 -0.74 -0.92 -0.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.75 0.20 0.10 -0.19 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -1.08 -0.74 -0.92 -0.62 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 -2.69 -4.48 -4.09 -4.93 -8.59 -9.38 -6.52 -9.19 -7.91 -9.10 -11.68
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		 2.71 1.78 1.68 1.38 1.12 0.94 2.11 1.57 2.30 2.56 1.65
Quick Ratio		 2.14 1.30 1.13 0.66 1.03 0.80 1.97 1.50 2.14 2.38 1.55
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -62 -212 -58 -72 -63 3.05 -89 -61 -61 -29 -20
Operating Cash Flow to CapEx		 -3,297.44% -5,416.08% -56,832.26% -40,213.13% -26,883.72% -43,202.22% 79,147.06% -7,341.99% 27,575.00% -50,724.14% 0.00%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 -94.46 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 -57.02 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 -57.12 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.37 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.77
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		 5.90 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.03 0.08 0.13
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 0.00 476.38
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 0.00 476.38
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -85 0.89 -70 -56 -43 -17 -8.38 -12 -3.94 -1.55 -3.34
Invested Capital Turnover		 -1.26 0.00 -0.01 0.00 0.00 0.00 0.00 0.00 -0.02 -0.09 -0.20
Increase / (Decrease) in Invested Capital		 31 122 34 52 42 -18 62 43 39 15 5.05
Enterprise Value (EV)		 235 153 106 141 77 111 63 52 121 89 55
Market Capitalization		 305 181 117 110 144 142 122 97 168 135 85
Book Value per Share		 ($0.12) ($0.35) ($0.40) ($0.57) $0.16 $0.08 $0.29 $3.77 $4.99 $4.89 $2.76
Tangible Book Value per Share		 ($0.12) ($0.35) ($0.40) ($0.57) $0.16 $0.08 $0.29 $3.77 $4.99 $4.89 $2.76
Total Capital		 86 57 42 15 24 14 50 33 44 44 26
Total Debt		 101 102 102 102 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 101 102 102 102 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -70 -28 -11 31 -67 -31 -59 -45 -48 -46 -30
Capital Expenditures (CapEx)		 1.80 0.88 0.06 0.10 0.13 0.09 0.03 0.18 0.01 0.03 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -35 -51 -44 -30 -59 -33 -24 -28 -19 -16 -17
Debt-free Net Working Capital (DFNWC)		 135 77 67 41 8.10 -2.55 35 18 29 30 12
Net Working Capital (NWC)		 135 77 67 41 8.10 -2.55 35 18 29 30 12
Net Nonoperating Expense (NNE)		 17 -49 16 13 -109 0.79 -60 2.44 -31 1.77 5.28
Net Nonoperating Obligations (NNO)		 -70 46 -11 31 -67 -31 -59 -45 -48 -46 -30
Total Depreciation and Amortization (D&A)		 2.08 2.04 2.02 1.91 1.87 1.09 1.08 1.06 1.04 0.95 0.78
Debt-free, Cash-free Net Working Capital to Revenue		 -27.37% 0.00% -8,521.26% 0.00% 0.00% 0.00% 0.00% 0.00% -5,282.05% -1,991.38% -1,511.86%
Debt-free Net Working Capital to Revenue		 106.49% 0.00% 12,778.35% 0.00% 0.00% 0.00% 0.00% 0.00% 8,290.03% 3,809.13% 1,089.19%
Net Working Capital to Revenue		 106.49% 0.00% 12,778.35% 0.00% 0.00% 0.00% 0.00% 0.00% 8,290.03% 3,809.13% 1,089.19%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.37) ($128.80) ($5.40) ($4.40) $11.60 ($0.09) $3.76 ($2.27) $0.94 ($1.73) ($2.08)
Adjusted Weighted Average Basic Shares Outstanding		 128.29M 320.02K 7.31M 7.58M 7.63M 155.40M 8.70M 8.74M 8.76M 8.86M 9.58M
Adjusted Diluted Earnings per Share		 ($0.37) ($128.80) ($5.40) ($4.40) $11.60 ($0.09) $3.75 ($2.27) $0.94 ($1.73) ($2.08)
Adjusted Weighted Average Diluted Shares Outstanding		 128.29M 320.02K 7.31M 7.58M 7.63M 155.40M 8.71M 8.74M 8.77M 8.87M 9.58M
Adjusted Basic & Diluted Earnings per Share		 $0.00 ($128.80) $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($1.73) $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 129.26M 7.55M 7.57M 7.59M 8.54M 174.36M 8.73M 8.75M 9.05M 9.59M 0.00
Normalized Net Operating Profit after Tax (NOPAT)		 -31 -91 -24 -20 -20 -15 -19 -17 -16 -14 -15
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4,482.59% -3,096.78% -4,087.96%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 2,337.32% -3,501.14% -5,562.29%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 -54.91 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
NOPAT to Interest Expense		 0.00 0.00 -39.01 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 -55.01 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 -39.11 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% 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

Seres Therapeutics’ latest quarter shows a company still in a cash-preservation mode, with modest revenue but continued heavy losses and a shrinking balance sheet compared with a year ago. In Q1 2026, Seres posted $358,000 in revenue, a net loss of $19.9 million, and negative operating cash flow of $16.4 million. The good news is that the company still held $29.8 million in cash and equivalents at quarter-end, but liquidity has clearly been trending lower over the last year.

  • Revenue remained positive in Q1 2026 at $358,000, extending the company’s return to commercial activity after prior periods with no revenue.
  • Operating expenses came down sequentially from Q4 2025, with total operating expenses falling to $21.3 million from $19.8 million, helped by lower SG&A and R&D spending.
  • Net other income was $994,000 in Q1 2026, which partially offset operating losses and helped limit pre-tax losses.
  • The company ended Q1 2026 with $29.8 million in cash and equivalents, giving it some near-term flexibility despite ongoing losses.
  • Q1 2026 investing cash flow was flat, with no material capital spending, which suggests management is keeping investment outlays tight.
  • Gross profit was equal to revenue because cost of revenue was reported at zero, so the top line translated directly into gross profit.
  • Depreciation and other non-cash items helped offset some of the cash burn, but not enough to produce positive operating cash flow.
  • The share count has remained relatively stable in recent quarters, limiting dilution pressure compared with some earlier periods.
  • Seres still posted a sizeable net loss of $19.9 million in Q1 2026, or $2.08 per share, showing the business remains far from profitability.
  • Operating cash flow was negative $16.4 million in Q1 2026, indicating the core business continues to consume cash.
  • Cash and equivalents fell from $47.6 million at Q3 2025 to $29.8 million at Q1 2026, a sharp decline in just two quarters.
  • Total equity dropped to $26.5 million in Q1 2026 from $43.7 million in Q3 2025, reflecting ongoing losses and balance sheet pressure.
  • The company’s cash balance is far below where it was a year ago, when it held $58.8 million in Q1 2025 and $111.2 million in Q1 2024.
  • Revenue remains extremely small relative to the expense base, making the current business model difficult to sustain without additional financing or improved commercialization.

Overall, the trend is still mixed to negative. Seres has narrowed some expenses and maintained access to limited financing, but the company continues to burn cash and report large losses. For retail investors, the key question is whether revenue growth or partnership income can improve faster than cash burn before liquidity becomes a bigger concern.

07/13/26 02:59 AM ETAI Generated. May Contain Errors.

Seres Therapeutics Financials - Frequently Asked Questions

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

Seres Therapeutics' net income appears to be on a downward trend, with a most recent value of $5.70 million in 2025, falling from -$54.78 million in 2015. The previous period was $136 thousand in 2024. See where experts think Seres Therapeutics is headed by visiting Seres Therapeutics' forecast page.

Seres Therapeutics' total operating income in 2025 was -$93.97 million, based on the following breakdown:
  • Total Gross Profit: $789 thousand
  • Total Operating Expenses: $94.76 million

Over the last 10 years, Seres Therapeutics' total revenue changed from $0.00 in 2015 to $789 thousand in 2025, a change of 78,900,000.0%.

Seres Therapeutics' total liabilities were at $93.98 million at the end of 2025, a 25.4% decrease from 2024, and a 716.7% increase since 2015.

In the past 10 years, Seres Therapeutics' cash and equivalents has ranged from $30.79 million in 2024 to $180.00 million in 2021, and is currently $45.77 million as of their latest financial filing in 2025.

Over the last 10 years, Seres Therapeutics' book value per share changed from 5.26 in 2015 to 4.89 in 2025, a change of -7.1%.


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Financial statements for NASDAQ:MCRB last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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