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Nuvalent (NUVL) Financials

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$99.90 -2.40 (-2.35%)
Closing price 04:00 PM Eastern
Extended Trading
$98.30 -1.60 (-1.61%)
As of 05:25 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 Nuvalent

Annual Income Statements for Nuvalent

This table shows Nuvalent'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		 -15 -46 -82 -126 -261 -423
Consolidated Net Income / (Loss)		 -15 -46 -82 -126 -261 -425
Net Income / (Loss) Continuing Operations		 -15 -46 -82 -126 -261 -425
Total Pre-Tax Income 		-15 -46 -82 -126 -260 -425
Total Operating Income		 -17 -46 -86 -149 -280 -414
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		 17 46 86 149 280 414
Selling, General & Admin Expense		 1.50 10 22 36 63 107
Research & Development Expense		 15 36 64 113 218 307
Total Other Income / (Expense), net		 2.35 -0.52 4.25 23 20 -10
Income Tax Expense		 - - 0.00 0.00 0.76 0.59
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - 0.09 -2.41
Basic Earnings per Share		 ($5.08) ($2.13) ($1.65) ($2.17) ($3.93) ($5.85)
Weighted Average Basic Shares Outstanding		 2.87M 21.78M 49.67M 58.22M 66.41M 72.69M
Diluted Earnings per Share		 ($5.08) ($2.13) ($1.65) ($2.17) ($3.93) ($5.85)
Weighted Average Diluted Shares Outstanding		 2.87M 21.78M 49.67M 58.22M 66.41M 72.69M
Weighted Average Basic & Diluted Shares Outstanding		 - 96.63M 56.70M 64.07M 71.60M 78.62M

Quarterly Income Statements for Nuvalent

This table shows Nuvalent'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		 -33 -37 -44 -57 -84 -77 -85 -100 -122 -116 -109
Consolidated Net Income / (Loss)		 -34 -38 -44 -57 -84 -75 -85 -100 -122 -119 -109
Net Income / (Loss) Continuing Operations		 -34 -38 -44 -57 -84 -75 -85 -100 -122 -119 -109
Total Pre-Tax Income 		-34 -38 -44 -57 -84 -75 -84 -100 -122 -119 -109
Total Operating Income		 -39 -46 -53 -65 -76 -86 -95 -105 -113 -102 -119
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		 39 46 53 65 76 86 95 105 113 102 119
Selling, General & Admin Expense		 9.17 11 14 16 16 17 20 24 29 34 36
Research & Development Expense		 30 36 39 49 61 69 74 81 84 68 84
Total Other Income / (Expense), net		 5.14 8.15 8.49 8.15 -7.97 12 10 5.06 -9.61 -16 10
Income Tax Expense		 0.00 - 0.38 0.17 0.04 0.17 0.16 0.15 0.13 0.15 0.17
Basic Earnings per Share		 ($0.59) ($0.63) ($0.69) ($0.88) ($1.28) ($1.08) ($1.18) ($1.39) ($1.70) ($1.58) ($1.39)
Weighted Average Basic Shares Outstanding		 57.09M 58.22M 64.15M 64.61M 65.68M 66.41M 71.61M 71.84M 72.14M 72.69M 78.67M
Diluted Earnings per Share		 ($0.59) ($0.63) ($0.69) ($0.88) ($1.28) ($1.08) ($1.18) ($1.39) ($1.70) ($1.58) ($1.39)
Weighted Average Diluted Shares Outstanding		 57.09M 58.22M 64.15M 64.61M 65.68M 66.41M 71.61M 71.84M 72.14M 72.69M 78.67M
Weighted Average Basic & Diluted Shares Outstanding		 62.63M 64.07M 64.56M 64.80M 71.05M 71.60M 71.81M 72.10M 72.71M 78.62M 79.00M

Annual Cash Flow Statements for Nuvalent

This table details how cash moves in and out of Nuvalent'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		 7.32 58 173 94 -190 116
Net Cash From Operating Activities		 -15 -40 -65 -100 -185 -275
Net Cash From Continuing Operating Activities		 -15 -40 -65 -100 -185 -275
Net Income / (Loss) Continuing Operations		 -15 -46 -82 -126 -261 -425
Consolidated Net Income / (Loss)		 -15 -46 -82 -126 -261 -425
Amortization Expense		 0.00 0.22 -0.37 -10 -15 -11
Non-Cash Adjustments To Reconcile Net Income		 -1.66 4.18 10 26 79 142
Changes in Operating Assets and Liabilities, net		 1.27 1.94 6.93 11 12 19
Net Cash From Investing Activities		 0.00 -220 -11 -144 -574 -124
Net Cash From Continuing Investing Activities		 0.00 -220 -11 -144 -574 -124
Purchase of Investments		 0.00 -221 -213 -459 -1,025 -1,058
Sale and/or Maturity of Investments		 0.00 1.02 202 316 451 934
Net Cash From Financing Activities		 22 318 249 337 569 515
Net Cash From Continuing Financing Activities		 22 318 249 337 569 515
Repayment of Debt		 -0.25 0.28 -0.91 -0.78 -0.62 0.00
Repurchase of Common Equity		 0.00 -3.02 -0.64 -0.86 -0.48 -0.38
Issuance of Preferred Equity		 23 145 0.00 0.00 0.00 0.00
Issuance of Common Equity		 0.00 177 250 338 570 516
Other Financing Activities, net		 0.02 -0.96 0.00 0.00 0.00 0.00

Quarterly Cash Flow Statements for Nuvalent

This table details how cash moves in and out of Nuvalent'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		 18 247 -237 -21 292 -224 -25 6.64 -12 146 -102
Net Cash From Operating Activities		 -23 -30 -36 -41 -46 -62 -55 -77 -70 -73 -92
Net Cash From Continuing Operating Activities		 -23 -30 -36 -41 -46 -62 -55 -77 -70 -73 -92
Net Income / (Loss) Continuing Operations		 -34 -38 -44 -57 -84 -75 -85 -100 -122 -119 -109
Consolidated Net Income / (Loss)		 -34 -38 -44 -57 -84 -75 -85 -100 -122 -119 -109
Amortization Expense		 -2.63 -2.09 -3.38 -3.43 -2.92 -4.93 -4.28 -2.71 -2.19 -1.93 -1.83
Non-Cash Adjustments To Reconcile Net Income		 6.85 7.49 14 15 32 17 22 28 42 50 32
Changes in Operating Assets and Liabilities, net		 6.44 2.69 -2.08 4.31 9.39 0.22 12 -2.45 12 -2.48 -13
Net Cash From Investing Activities		 38 -56 -207 16 -213 -170 25 77 54 -281 -19
Net Cash From Continuing Investing Activities		 38 -56 -207 16 -213 -170 25 77 54 -281 -19
Purchase of Investments		 -23 -167 -283 -89 -341 -312 -277 -158 -178 -444 -201
Sale and/or Maturity of Investments		 62 110 76 105 128 142 303 236 232 163 182
Net Cash From Financing Activities		 2.14 333 5.99 4.14 550 8.49 4.55 5.76 4.77 500 9.80
Net Cash From Continuing Financing Activities		 2.14 333 5.99 4.14 550 8.49 4.55 5.76 4.77 500 9.80
Repayment of Debt		 0.76 0.16 -0.47 -0.16 - - 0.00 - - - 0.00
Repurchase of Common Equity		 - -0.77 0.00 - -0.19 -0.30 -0.01 - - -0.38 -0.33
Issuance of Common Equity		 1.39 335 6.45 4.29 550 8.79 4.55 5.76 4.77 501 10

Annual Balance Sheets for Nuvalent

This table presents Nuvalent'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		 11 294 482 732 1,142 1,413
Total Current Assets		 11 291 478 726 1,132 1,392
Cash & Equivalents		 10 69 242 335 146 262
Short-Term Investments		 0.00 220 230 385 973 1,110
Prepaid Expenses		 0.31 2.52 5.83 6.58 14 20
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 0.00 3.20 4.47 5.90 9.30 20
Total Liabilities & Shareholders' Equity		 11 294 482 732 1,142 1,413
Total Liabilities		 6.62 8.79 19 32 72 164
Total Current Liabilities		 4.38 8.79 19 32 54 91
Accounts Payable		 1.25 2.89 7.20 9.27 5.23 30
Accrued Expenses		 1.17 5.89 12 23 49 61
Total Noncurrent Liabilities		 2.24 0.00 0.00 0.00 18 73
Other Noncurrent Operating Liabilities		 2.24 - - 0.00 18 73
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -31 285 463 701 1,070 1,248
Total Preferred & Common Equity		 -31 285 463 701 1,070 1,248
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -31 285 463 701 1,070 1,248
Common Stock		 0.84 363 624 987 1,617 2,218
Retained Earnings		 -32 -78 -160 -286 -547 -972
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.23 -0.49 0.03 -0.06 2.35

Quarterly Balance Sheets for Nuvalent

This table presents Nuvalent'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		 250 461 442 425 708 675 1,189 1,106 1,041 980 1,331
Total Current Assets		 245 456 437 420 699 666 1,180 1,087 1,020 957 1,308
Cash & Equivalents		 76 90 71 88 99 78 369 121 127 116 160
Short-Term Investments		 164 360 360 325 593 580 799 952 878 827 1,128
Prepaid Expenses		 5.18 5.83 5.75 6.52 7.66 8.26 11 13 14 14 20
Plant, Property, & Equipment, net		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Noncurrent Assets		 4.31 4.70 4.96 5.31 8.97 8.97 9.18 19 21 23 23
Total Liabilities & Shareholders' Equity		 250 461 442 425 708 675 1,189 1,106 1,041 980 1,331
Total Liabilities		 13 17 21 29 33 38 68 95 101 135 157
Total Current Liabilities		 13 17 21 29 33 38 51 75 75 89 81
Accounts Payable		 4.62 6.43 8.12 9.78 13 7.40 16 26 13 22 22
Accrued Expenses		 8.36 11 13 19 20 31 35 49 62 67 59
Total Noncurrent Liabilities		 0.00 0.00 0.00 0.00 0.00 0.00 17 20 26 45 76
Other Noncurrent Operating Liabilities		 - - - - - - 17 20 26 45 76
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		 237 444 421 396 675 637 1,121 1,011 940 845 1,174
Total Preferred & Common Equity		 237 444 421 396 675 637 1,121 1,011 940 845 1,174
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		 237 444 421 396 675 637 1,121 1,011 940 845 1,174
Common Stock		 371 630 637 645 1,007 1,027 1,592 1,642 1,670 1,697 2,257
Retained Earnings		 -134 -185 -214 -248 -331 -388 -472 -632 -731 -854 -1,082
Accumulated Other Comprehensive Income / (Loss)		 -0.87 -0.30 -1.54 -1.31 -1.32 -1.57 1.37 0.85 1.36 2.37 -1.36

Annual Metrics And Ratios for Nuvalent

This table displays calculated financial ratios and metrics derived from Nuvalent'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% -217.65% -77.84% -65.79% -116.42% -44.19%
EBIT Growth		 0.00% -219.13% -76.21% -54.20% -122.13% -47.77%
NOPAT Growth		 0.00% -171.03% -87.94% -73.61% -87.55% -47.77%
Net Income Growth		 0.00% -218.34% -76.65% -54.20% -106.59% -63.13%
EPS Growth		 0.00% 58.07% 22.54% -31.52% -81.11% -48.86%
Operating Cash Flow Growth		 0.00% -167.58% -62.43% -53.51% -85.55% -48.71%
Free Cash Flow Firm Growth		 0.00% 0.00% -64.76% -75.94% -75.90% -24.59%
Invested Capital Growth		 0.00% 0.49% -117.75% -84.87% -129.06% -148.89%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Q/Q Growth		 0.00% 0.00% -11.85% 3.45% -16.92% -3.13%
EBIT Q/Q Growth		 0.00% 0.00% -10.33% 4.64% -16.57% -4.00%
NOPAT Q/Q Growth		 0.00% 0.00% -16.07% -12.95% -16.57% -4.00%
Net Income Q/Q Growth		 0.00% 0.00% -12.10% -10.67% -16.26% -11.52%
EPS Q/Q Growth		 0.00% 0.00% -166.53% -6.37% -12.93% -9.35%
Operating Cash Flow Q/Q Growth		 0.00% -25.07% -8.02% -14.24% -20.74% -4.29%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% -26.54% -13.86% 0.70%
Invested Capital Q/Q Growth		 0.00% 0.00% -292.21% -11.74% -22.53% -19.25%
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% 100.00% 100.29% 100.14%
Interest Burden Percent		 100.00% 99.75% 100.00% 100.00% 92.73% 102.53%
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)		 -361.10% -32.06% -21.89% -21.70% -29.46% -36.70%
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)		 2,805.95% -28.14% -21.89% -21.70% -29.46% -36.70%
Return on Equity Simple (ROE_SIMPLE)		 46.47% -16.26% -17.68% -18.02% -24.37% 0.00%
Net Operating Profit after Tax (NOPAT)		 -12 -32 -60 -105 -196 -290
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Nonoperating Expense Percent (NNEP)		 -26.35% -9.46% -5.62% -3.59% -6.96% -10.74%
Return On Investment Capital (ROIC_SIMPLE)		 - - -13.02% -14.94% -18.35% -23.23%
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)		 -15 -46 -82 -126 -280 -414
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -15 -46 -82 -136 -295 -425
Valuation Ratios		 - - - - - -
Price to Book Value (P/BV)		 0.00 3.23 3.63 6.58 5.20 5.86
Price to Tangible Book Value (P/TBV)		 0.00 3.23 3.63 6.58 5.20 5.86
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		 0.00 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
Financial Leverage		 -2.56 -1.04 -1.03 -1.03 -1.05 -1.09
Leverage Ratio		 2.64 1.05 1.04 1.04 1.06 1.10
Compound Leverage Factor		 2.64 1.05 1.04 1.04 0.98 1.13
Debt to Total Capital		 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%
Long-Term Debt to Total Capital		 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%
Noncontrolling Interests to Total Capital		 877.05% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -777.05% 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
Net Debt to EBITDA		 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
Debt to NOPAT		 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
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 5.72 63.03 51.88 86.92 46.03 25.87
Noncontrolling Interest Sharing Ratio		 877.05% 12.23% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - -
Current Ratio		 2.43 33.07 24.54 22.83 20.96 15.27
Quick Ratio		 2.36 32.79 24.24 22.62 20.70 15.05
Cash Flow Metrics		 - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 -32 -53 -93 -164 -204
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Free Cash Flow to Firm to Interest Expense		 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
Operating Cash Flow Less CapEx to Interest Expense		 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
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		 -6.30 -6.27 -14 -25 -58 -144
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00
Increase / (Decrease) in Invested Capital		 0.00 0.03 -7.38 -12 -33 -86
Enterprise Value (EV)		 176 631 1,209 3,889 4,444 5,942
Market Capitalization		 151 919 1,681 4,609 5,562 7,314
Book Value per Share		 ($10.92) $5.90 $8.20 $11.19 $15.06 $17.17
Tangible Book Value per Share		 ($10.92) $5.90 $8.20 $11.19 $15.06 $17.17
Total Capital		 4.03 285 463 701 1,070 1,248
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		 -10 -288 -472 -720 -1,118 -1,372
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -4.07 -6.27 -14 -25 -40 -71
Debt-free Net Working Capital (DFNWC)		 6.27 282 459 695 1,078 1,301
Net Working Capital (NWC)		 6.27 282 459 695 1,078 1,301
Net Nonoperating Expense (NNE)		 2.72 14 22 22 64 135
Net Nonoperating Obligations (NNO)		 -10 -291 -477 -726 -1,128 -1,392
Total Depreciation and Amortization (D&A)		 0.00 0.22 -0.37 -10 -15 -11
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 ($2.13) ($1.65) ($2.17) ($3.93) ($5.85)
Adjusted Weighted Average Basic Shares Outstanding		 0.00 21.78M 49.67M 58.22M 66.41M 72.69M
Adjusted Diluted Earnings per Share		 $0.00 ($2.13) ($1.65) ($2.17) ($3.93) ($5.85)
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 21.78M 49.67M 58.22M 66.41M 72.69M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 96.63M 56.70M 64.07M 71.60M 78.62M
Normalized Net Operating Profit after Tax (NOPAT)		 -12 -32 -60 -105 -196 -290
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		 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
EBIT Less CapEx to Interest Expense		 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
Payout Ratios		 - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -6.52% -0.79% -0.68% -0.19% -0.09%

Quarterly Metrics And Ratios for Nuvalent

This table displays calculated financial ratios and metrics derived from Nuvalent'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		 - - - - - - - - - - 78,617,001.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 78,617,001.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -1.39
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		 -103.09% -61.05% -70.91% -85.81% -91.37% -87.99% -108.70% -77.53% -44.96% -14.17% -22.34%
EBIT Growth		 -90.22% -58.49% -74.07% -91.27% -96.82% -85.84% -115.00% -83.47% -47.64% -18.46% -25.94%
NOPAT Growth		 -90.22% -58.49% -74.07% -91.27% -96.82% -85.84% -80.29% -60.51% -47.64% -18.46% -25.94%
Net Income Growth		 -70.65% -46.58% -76.57% -96.51% -150.69% -95.24% -90.15% -74.32% -45.16% -58.78% -29.20%
EPS Growth		 -43.90% -26.00% -56.82% -72.55% -116.95% -71.43% -71.01% -57.95% -32.81% -46.30% -17.80%
Operating Cash Flow Growth		 -26.44% -69.91% -47.81% -85.95% -99.37% -105.24% -51.91% -86.10% -53.79% -18.27% -68.55%
Free Cash Flow Firm Growth		 33.48% -59.37% -61.38% -140.36% -258.62% -33.06% 51.79% 46.81% 81.27% 152.16% -167.66%
Invested Capital Growth		 -548.89% -84.87% -130.29% -98.96% -108.89% -129.06% -215.95% -189.99% -155.75% -148.89% -67.43%
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		 -12.20% -17.18% -15.33% -22.54% -15.56% -15.12% -8.62% -8.26% -7.09% 9.34% -16.40%
EBIT Q/Q Growth		 -13.86% -19.74% -13.25% -23.89% -17.16% -13.06% -9.86% -10.29% -7.77% 9.29% -16.80%
NOPAT Q/Q Growth		 -13.86% -19.74% -13.25% -23.89% -17.16% -13.06% -9.86% -10.29% -7.77% 9.29% -16.80%
Net Income Q/Q Growth		 -15.66% -13.81% -16.17% -28.51% -47.54% 11.36% -13.13% -17.82% -22.86% 3.05% 7.94%
EPS Q/Q Growth		 -15.69% -6.78% -9.52% -27.54% -45.45% 15.63% -9.26% -17.80% -22.30% 7.06% 12.03%
Operating Cash Flow Q/Q Growth		 -3.82% -31.45% -19.46% -14.06% -11.31% -35.32% 11.58% -39.72% 8.01% -4.07% -26.01%
Free Cash Flow Firm Q/Q Growth		 37.08% -160.15% -6.28% -38.18% 6.13% 3.47% 61.50% -52.45% 66.94% 368.80% -297.58%
Invested Capital Q/Q Growth		 -50.17% -11.74% -2.10% -16.14% -57.66% -22.53% -40.83% -6.59% -39.04% -19.25% 5.26%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Tax Burden Percent		 100.00% 100.00% 100.87% 100.30% 100.05% 100.23% 100.19% 100.15% 100.11% 100.13% 100.15%
Interest Burden Percent		 86.75% 82.46% 83.86% 87.48% 110.45% 86.43% 89.04% 95.16% 108.53% 115.97% 91.38%
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)		 -36.06% -21.70% -26.01% -32.81% -29.57% -29.46% -35.69% -43.55% -38.79% -36.70% -41.19%
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)		 -36.06% -21.70% -26.01% -32.81% -29.57% -29.46% -35.69% -43.55% -38.79% -36.70% -41.19%
Return on Equity Simple (ROE_SIMPLE)		 -28.80% 0.00% -21.56% -27.25% -20.01% 0.00% -29.76% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -27 -33 -37 -46 -53 -60 -66 -73 -79 -72 -84
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)		 -1.97% -0.96% -1.33% -2.10% -3.90% -1.55% -2.03% -3.12% -4.08% -3.74% -2.14%
Return On Investment Capital (ROIC_SIMPLE)		 - -4.64% - - - -5.65% -6.56% -7.79% -9.33% -5.73% -7.12%
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)		 -39 -46 -53 -65 -76 -86 -95 -105 -113 -102 -119
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -41 -49 -56 -69 -79 -91 -99 -107 -115 -104 -121
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 6.62 6.58 6.97 7.69 5.91 5.20 5.02 5.83 7.38 5.86 6.86
Price to Tangible Book Value (P/TBV)		 6.62 6.58 6.97 7.69 5.91 5.20 5.02 5.83 7.38 5.86 6.86
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 0.00
Financial Leverage		 -1.04 -1.03 -1.03 -1.04 -1.05 -1.05 -1.06 -1.07 -1.09 -1.09 -1.10
Leverage Ratio		 1.07 1.04 1.05 1.06 1.06 1.06 1.08 1.09 1.10 1.10 1.12
Compound Leverage Factor		 0.93 0.86 0.88 0.92 1.18 0.92 0.96 1.04 1.20 1.28 1.02
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%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 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		 100.00% 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 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 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 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 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 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 0.00
Altman Z-Score		 54.03 87.28 84.64 76.93 59.09 46.59 32.17 32.39 27.28 26.60 30.50
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		 14.42 22.83 20.93 17.45 23.07 20.96 14.48 13.57 10.73 15.27 16.14
Quick Ratio		 14.20 22.62 20.70 17.23 22.85 20.70 14.30 13.38 10.58 15.05 15.88
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -8.04 -21 -22 -31 -29 -28 -11 -16 -5.40 15 -29
Operating Cash Flow to CapEx		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
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 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 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 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 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		 -23 -25 -26 -30 -47 -58 -81 -87 -121 -144 -136
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		 -19 -12 -15 -15 -25 -33 -56 -57 -73 -86 -55
Enterprise Value (EV)		 2,208 3,889 4,011 4,239 5,460 4,444 4,004 4,473 5,293 5,942 6,767
Market Capitalization		 2,621 4,609 4,703 4,897 6,629 5,562 5,078 5,479 6,236 7,314 8,054
Book Value per Share		 $6.94 $11.19 $10.52 $9.87 $17.30 $15.06 $14.12 $13.09 $11.72 $17.17 $14.94
Tangible Book Value per Share		 $6.94 $11.19 $10.52 $9.87 $17.30 $15.06 $14.12 $13.09 $11.72 $17.17 $14.94
Total Capital		 396 701 675 637 1,121 1,070 1,011 940 845 1,248 1,174
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		 -413 -720 -692 -658 -1,168 -1,118 -1,073 -1,006 -943 -1,372 -1,287
Capital Expenditures (CapEx)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -23 -25 -26 -30 -40 -40 -62 -61 -75 -71 -61
Debt-free Net Working Capital (DFNWC)		 391 695 666 628 1,129 1,078 1,012 944 868 1,301 1,227
Net Working Capital (NWC)		 391 695 666 628 1,129 1,078 1,012 944 868 1,301 1,227
Net Nonoperating Expense (NNE)		 6.50 5.79 7.67 12 31 14 18 26 44 47 26
Net Nonoperating Obligations (NNO)		 -419 -726 -701 -667 -1,168 -1,128 -1,092 -1,027 -966 -1,392 -1,311
Total Depreciation and Amortization (D&A)		 -2.63 -2.09 -3.38 -3.43 -2.92 -4.93 -4.28 -2.71 -2.19 -1.93 -1.83
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		 ($0.59) ($0.63) ($0.69) ($0.88) ($1.28) ($1.08) ($1.18) ($1.39) ($1.70) ($1.58) ($1.39)
Adjusted Weighted Average Basic Shares Outstanding		 57.09M 58.22M 64.15M 64.61M 65.68M 66.41M 71.61M 71.84M 72.14M 72.69M 78.67M
Adjusted Diluted Earnings per Share		 ($0.59) ($0.63) ($0.69) ($0.88) ($1.28) ($1.08) ($1.18) ($1.39) ($1.70) ($1.58) ($1.39)
Adjusted Weighted Average Diluted Shares Outstanding		 57.09M 58.22M 64.15M 64.61M 65.68M 66.41M 71.61M 71.84M 72.14M 72.69M 78.67M
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		 62.63M 64.07M 64.56M 64.80M 71.05M 71.60M 71.81M 72.10M 72.71M 78.62M 79.00M
Normalized Net Operating Profit after Tax (NOPAT)		 -27 -33 -37 -46 -53 -60 -66 -73 -79 -72 -84
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 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 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 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 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		 -0.64% -0.68% -0.53% -0.44% -0.43% -0.19% -0.16% -0.14% -0.08% -0.09% -0.16%

Financials Breakdown Chart

Key Financial Trends

Nuvalent, Inc. (NUVL) has shown a pattern of heavy spending with ongoing net losses, but its latest four quarters reveal a substantial liquidity boost driven by equity financing. Below is a concise, investor-focused snapshot of trends across income, cash flow, and balance sheet data from the last four years.

  • Large equity-driven liquidity boost in Q4 2025: Issuance of Common Equity of $500.64M and Net Cash From Financing Activities of $500.264M, contributing to a Net Change in Cash & Equivalents of $145.993M.
  • Strong near-term liquidity on the balance sheet (Q3 2025): Cash & Equivalents $115.752M; Short-Term Investments $827.351M; Total Current Assets $956.945M; Total Assets $979.91M.
  • Solid equity base indicated by balance sheet figures (Q3 2025): Total Common Equity around $845.399M with Common Stock about $1.697B.
  • Ongoing equity financings in 2025, aiding runway: Issuances of Common Equity in Q1 ($4.554M), Q2 ($5.755M), Q3 ($4.773M), and Q4 ($500.64M) to fund operations and R&D.
  • Positive quarterly financing activity in 2025 supports liquidity: Net Cash From Continuing Financing Activities was $4.774M (Q3 2025) and $500.264M (Q4 2025), among other quarters.
  • Pre-revenue status and lack of quarterly revenue: Total Revenue reported as 0.0 in several 2024–2025 quarters, indicating Nuvalent remains in a pre-revenue development phase.
  • Ongoing R&D and SG&A investment: R&D expenses remain high (e.g., Q4 2025: $67.8M; Q3 2025: $83.8M; Q2 2025: $80.9M; Q1 2025: $74.4M), supporting long-run potential but contributing to current burn.
  • Equity issuance implies dilution risk: Recurrent common-equity issuances across 2025 raise liquidity but may dilute existing shareholders over time.
  • Sustained net losses to common shareholders: Net Income / (Loss) Attributable to Common Shareholders: Q4 2025 -$116.293M; Q3 2025 -$122.437M; Q2 2025 -$99.653M; Q1 2025 -$84.582M.
  • Operating cash flow remains negative, reflecting ongoing cash burn: Net Cash From Continuing Operating Activities: Q4 2025 -$73.328M; Q3 2025 -$70.462M; Q2 2025 -$76.598M; Q1 2025 -$54.821M.
05/18/26 06:22 PM ETAI Generated. May Contain Errors.

Nuvalent Financials - Frequently Asked Questions

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

Nuvalent's net income appears to be on an upward trend, with a most recent value of -$425.38 million in 2025, rising from -$14.56 million in 2020. The previous period was -$260.76 million in 2024. Check out Nuvalent's forecast to explore projected trends and price targets.

Nuvalent's total operating income in 2025 was -$414.31 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $414.31 million

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

Nuvalent's total liabilities were at $164.37 million at the end of 2025, a 128.4% increase from 2024, and a 2,384.7% increase since 2020.

In the past 5 years, Nuvalent's cash and equivalents has ranged from $10.33 million in 2020 to $335.39 million in 2023, and is currently $261.75 million as of their latest financial filing in 2025.

Over the last 5 years, Nuvalent's book value per share changed from -10.92 in 2020 to 17.17 in 2025, a change of -257.2%.


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