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Scholar Rock (SRRK) Financials

Scholar Rock logo
$49.35 -1.93 (-3.76%)
Closing price 05/15/2026 04:00 PM Eastern
Extended Trading
$49.34 -0.01 (-0.01%)
As of 05/15/2026 04:10 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 Scholar Rock

Annual Income Statements for Scholar Rock

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -25 -49 -51 -86 -132 -135 -166 -246 -378
Consolidated Net Income / (Loss)		 -25 -49 -51 -86 -132 -135 -166 -246 -378
Net Income / (Loss) Continuing Operations		 -25 -51 -51 -87 -132 -135 -166 -246 -378
Total Pre-Tax Income 		-25 -51 -55 -87 -130 -134 -171 -246 -378
Total Operating Income		 -25 -51 -55 -87 -130 -134 -171 -252 -385
Total Gross Profit		 0.00 0.00 20 15 19 33 0.00 0.00 0.00
Total Revenue		 0.00 0.00 20 15 19 33 0.00 0.00 0.00
Total Cost of Revenue		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Operating Expenses		 25 51 75 102 149 168 171 252 385
Selling, General & Admin Expense		 5.09 14 21 28 40 43 49 68 176
Research & Development Expense		 20 36 54 74 108 124 122 185 208
Total Other Income / (Expense), net		 0.03 0.00 0.00 0.00 0.00 0.00 0.00 5.76 6.71
Interest Expense		 -0.04 - - - - - - 6.84 6.89
Interest & Investment Income		 - - - - - - - 13 14
Other Income / (Expense), net		 -0.01 - - - - - - -0.09 -0.30
Basic Earnings per Share		 ($15.30) ($3.15) ($1.85) ($2.81) ($3.59) ($2.26) ($1.99) ($2.47) ($3.29)
Weighted Average Basic Shares Outstanding		 1.63M 15.66M 27.54M 30.73M 36.71M 59.61M 83.35M 99.84M 114.70M
Diluted Earnings per Share		 ($15.30) ($3.15) ($1.85) ($2.81) ($3.59) ($2.26) ($1.99) ($2.47) ($3.29)
Weighted Average Diluted Shares Outstanding		 1.63M 15.66M 27.54M 30.73M 36.71M 59.61M 83.35M 99.84M 114.70M
Weighted Average Basic & Diluted Shares Outstanding		 1.63M 15.66M 27.54M 30.73M 35.30M 51.99M 77.87M 94.68M 114.88M

Quarterly Income Statements for Scholar Rock

This table shows Scholar Rock'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		 -42 -46 -57 -59 -64 -66 -75 -110 -102 -91 -106
Consolidated Net Income / (Loss)		 -42 -46 -57 -59 -64 -66 -75 -110 -102 -91 -106
Net Income / (Loss) Continuing Operations		 -44 -45 -57 -59 -64 -72 -75 -110 -102 -91 -106
Total Pre-Tax Income 		-44 -48 -58 -59 -64 -69 -75 -110 -102 -89 -102
Total Operating Income		 -44 -48 -58 -59 -65 -69 -77 -112 -104 -92 -102
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		 44 48 58 59 65 69 77 112 104 92 102
Selling, General & Admin Expense		 13 13 15 17 16 19 28 50 53 45 50
Research & Development Expense		 30 35 43 42 49 50 49 62 50 47 52
Total Other Income / (Expense), net		 0.00 - 0.00 0.99 0.30 - 2.37 2.08 1.33 3.30 -0.16
Interest Expense		 - - - 1.72 1.74 - 1.82 1.21 1.33 - 2.30
Interest & Investment Income		 - - - 2.72 2.08 - 4.23 3.41 2.73 - 2.94
Other Income / (Expense), net		 - - - -0.01 -0.04 - -0.04 -0.13 -0.07 - -0.79
Other Gains / (Losses), net		 - - 1.57 - 0.30 - - - - - -3.49
Basic Earnings per Share		 ($0.53) ($0.50) ($0.59) ($0.60) ($0.66) ($0.62) ($0.67) ($0.98) ($0.90) ($0.74) ($0.83)
Weighted Average Basic Shares Outstanding		 80.61M 83.35M 95.89M 96.81M 97.05M 99.84M 111.84M 112.70M 113.73M 114.70M 127.28M
Diluted Earnings per Share		 ($0.53) ($0.50) ($0.59) ($0.60) ($0.66) ($0.62) ($0.67) ($0.98) ($0.90) ($0.74) ($0.83)
Weighted Average Diluted Shares Outstanding		 80.61M 83.35M 95.89M 96.81M 97.05M 99.84M 111.84M 112.70M 113.73M 114.70M 127.28M
Weighted Average Basic & Diluted Shares Outstanding		 72.14M 77.87M 79.75M 80.03M 93.61M 94.68M 94.95M 96.13M 102.01M 114.88M 119.83M

Annual Cash Flow Statements for Scholar Rock

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 46 59 -76 124 52 -110 -1.51 76 147
Net Cash From Operating Activities		 -22 25 -63 -60 -127 -133 -145 -201 -300
Net Cash From Continuing Operating Activities		 -22 25 -63 -60 -127 -133 -145 -201 -300
Net Income / (Loss) Continuing Operations		 -25 -49 -51 -86 -132 -135 -166 -246 -378
Consolidated Net Income / (Loss)		 -25 -49 -51 -86 -132 -135 -166 -246 -378
Depreciation Expense		 0.67 0.80 1.30 1.49 2.63 2.99 2.84 1.94 1.66
Amortization Expense		 -0.01 -0.35 -1.39 -0.10 1.25 5.48 -5.95 -5.04 -3.57
Non-Cash Adjustments To Reconcile Net Income		 1.49 5.21 8.07 12 30 28 26 42 75
Changes in Operating Assets and Liabilities, net		 1.11 68 -20 13 -28 -34 -2.76 6.59 4.72
Net Cash From Investing Activities		 18 -60 -62 -63 134 -172 41 -76 219
Net Cash From Continuing Investing Activities		 18 -60 -62 -63 134 -172 41 -76 219
Purchase of Property, Plant & Equipment		 -0.36 -1.49 -3.12 -4.09 -5.25 -1.06 -0.07 -0.10 -0.60
Purchase of Investments		 - -75 -235 -200 -60 -301 -291 -293 -98
Sale and/or Maturity of Investments		 18 17 176 141 200 130 332 217 317
Net Cash From Financing Activities		 51 94 49 248 45 195 103 353 228
Net Cash From Continuing Financing Activities		 51 94 49 248 45 195 103 353 228
Repayment of Debt		 -0.68 -0.67 -0.38 -0.02 -0.02 -0.98 0.00 -0.13 -26
Issuance of Debt		 - - 0.00 25 25 - - 0.00 75
Issuance of Common Equity		 - 95 48 216 13 195 98 324 92
Other Financing Activities, net		 - 0.01 0.91 7.29 6.89 0.49 4.86 29 88
Effect of Exchange Rate Changes		 - - - - - - - 0.00 -0.00
Cash Interest Paid		 0.05 - 0.00 0.25 2.08 4.37 6.40 6.62 6.07

Quarterly Cash Flow Statements for Scholar Rock

This table details how cash moves in and out of Scholar Rock'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		 -40 34 -9.88 1.39 -17 101 -40 15 135 37 106
Net Cash From Operating Activities		 -32 -37 -50 -49 -52 -50 -79 -77 -69 -75 -82
Net Cash From Continuing Operating Activities		 -32 -37 -50 -49 -52 -50 -79 -77 -69 -75 -82
Net Income / (Loss) Continuing Operations		 -42 -46 -57 -59 -64 -66 -75 -110 -102 -91 -106
Consolidated Net Income / (Loss)		 -42 -46 -57 -59 -64 -66 -75 -110 -102 -91 -106
Depreciation Expense		 0.71 0.67 0.60 0.50 0.45 0.40 0.39 0.42 0.42 0.43 0.34
Amortization Expense		 -5.45 -1.74 -1.84 -1.26 -0.64 -1.30 -0.22 -1.38 -0.63 -0.10 -0.14
Non-Cash Adjustments To Reconcile Net Income		 13 0.69 9.78 7.31 9.33 9.17 13 26 15 20 22
Changes in Operating Assets and Liabilities, net		 2.08 9.16 -1.46 2.76 2.89 8.68 -18 8.33 18 -4.41 1.53
Net Cash From Investing Activities		 -8.47 -25 33 51 35 -195 35 85 60 39 -5.34
Net Cash From Continuing Investing Activities		 -8.47 -25 33 51 35 -195 35 85 60 39 -5.34
Purchase of Property, Plant & Equipment		 - - -0.02 -0.02 -0.03 -0.02 -0.27 -0.22 -0.08 -0.03 -0.07
Purchase of Investments		 -81 -104 -35 -33 -14 -210 -58 -21 -19 - -25
Sale and/or Maturity of Investments		 73 79 68 84 50 15 93 107 79 39 20
Net Cash From Financing Activities		 0.28 97 6.53 -0.03 0.17 346 4.17 6.47 144 73 194
Net Cash From Continuing Financing Activities		 0.28 97 6.53 -0.03 0.17 346 4.17 6.47 144 73 194
Repayment of Debt		 - - 0.00 -0.08 -0.05 - -26 - - -0.00 -104
Issuance of Debt		 - - 0.00 - - - 25 0.00 50 - 197
Issuance of Common Equity		 - 92 0.00 - - 324 0.00 - 92 0.00 98
Other Financing Activities, net		 0.28 4.04 6.53 0.05 0.21 22 5.02 6.47 2.82 73 3.47
Effect of Exchange Rate Changes		 - - - - - - 0.00 - - - 0.67
Cash Interest Paid		 1.65 1.66 1.66 1.67 1.67 1.61 1.50 1.26 1.28 2.03 2.37

Annual Balance Sheets for Scholar Rock

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 62 181 196 388 304 358 311 475 404
Total Current Assets		 59 178 185 344 265 328 288 451 385
Cash & Equivalents		 56 115 36 160 213 103 102 178 324
Short-Term Investments		 1.50 61 121 181 40 212 178 259 44
Prepaid Expenses		 1.24 2.30 2.72 3.37 12 13 8.26 14 18
Plant, Property, & Equipment, net		 2.18 3.19 4.17 8.12 9.56 7.38 4.60 2.76 1.71
Total Noncurrent Assets		 0.26 0.21 7.04 36 30 23 18 21 17
Other Noncurrent Operating Assets		 0.26 0.21 7.04 36 30 23 18 21 17
Total Liabilities & Shareholders' Equity		 62 181 196 388 304 358 311 475 404
Total Liabilities		 5.93 75 83 128 132 98 86 106 159
Total Current Liabilities		 5.02 31 33 43 64 36 33 47 55
Accounts Payable		 1.36 3.30 1.13 3.41 4.43 3.99 3.47 10 10
Accrued Expenses		 2.80 7.16 9.61 15 17 24 20 31 40
Other Current Liabilities		 - 0.01 1.15 5.38 7.64 8.07 7.49 5.77 5.55
Total Noncurrent Liabilities		 0.90 44 51 85 68 62 53 59 103
Long-Term Debt		 0.40 0.02 0.00 25 48 50 49 50 100
Other Noncurrent Operating Liabilities		 0.04 - 4.18 27 20 12 4.39 9.21 3.66
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -54 107 113 261 172 260 225 369 245
Total Preferred & Common Equity		 -54 107 113 261 172 260 225 369 245
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -54 107 113 261 172 260 225 369 245
Common Stock		 4.01 213 271 505 548 772 902 1,291 1,546
Retained Earnings		 -58 -107 -158 -244 -376 -511 -676 -923 -1,301
Accumulated Other Comprehensive Income / (Loss)		 -0.00 -0.01 0.04 -0.00 -0.04 -0.88 0.09 0.16 0.09

Quarterly Balance Sheets for Scholar Rock

This table presents Scholar Rock'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		 390 315 285 251 267 227 179 408 340 412 535
Total Current Assets		 358 287 260 228 247 199 153 385 319 391 515
Cash & Equivalents		 133 151 108 68 92 93 76 138 153 287 431
Short-Term Investments		 211 124 141 151 146 97 63 226 142 83 49
Prepaid Expenses		 14 12 11 9.83 8.50 8.64 14 21 24 21 35
Plant, Property, & Equipment, net		 8.14 6.68 5.99 5.28 4.04 3.55 3.16 2.64 2.44 2.12 1.44
Total Noncurrent Assets		 25 21 19 17 16 24 23 20 18 19 19
Other Noncurrent Operating Assets		 25 21 19 17 16 24 23 20 18 19 19
Total Liabilities & Shareholders' Equity		 390 315 285 251 267 227 179 408 340 412 535
Total Liabilities		 97 86 82 83 85 93 100 95 107 167 259
Total Current Liabilities		 34 26 24 27 38 33 39 38 50 62 60
Accounts Payable		 2.00 3.72 3.04 1.97 2.87 3.32 4.07 4.44 1.10 6.77 9.22
Accrued Expenses		 23 15 14 17 21 22 29 28 44 50 44
Other Current Liabilities		 8.06 7.76 7.42 7.37 7.73 6.20 6.04 5.50 5.21 5.33 6.08
Total Noncurrent Liabilities		 63 60 58 56 47 60 61 58 56 105 200
Long-Term Debt		 50 50 50 50 45 48 50 50 50 100 197
Other Noncurrent Operating Liabilities		 14 10 8.23 6.34 2.41 12 10 7.91 6.56 5.14 2.98
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		 293 229 203 168 183 134 79 312 233 245 276
Total Preferred & Common Equity		 293 229 203 168 183 134 79 312 233 245 276
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		 293 229 203 168 183 134 79 312 233 245 276
Common Stock		 766 779 791 798 916 925 935 1,310 1,341 1,455 1,681
Retained Earnings		 -471 -550 -588 -630 -733 -792 -856 -997 -1,107 -1,210 -1,406
Accumulated Other Comprehensive Income / (Loss)		 -0.94 -0.33 -0.06 -0.02 -0.05 -0.05 0.13 0.13 0.06 0.12 0.69

Annual Metrics And Ratios for Scholar Rock

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

Metric 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 - - - - - - - - 102,007,457.00
DEI Adjusted Shares Outstanding		 - - - - - - - - 102,007,457.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - -3.71
Growth Metrics		 - - - - - - - - -
Profitability Metrics		 - - - - - - - - -
Net Operating Profit after Tax (NOPAT)		 -18 -35 -38 -61 -91 -94 -120 -176 -269
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -43.57% -42.13% -78.00%
Earnings before Interest and Taxes (EBIT)		 -25 -51 -55 -87 -130 -134 -171 -252 -385
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -24 -50 -55 -85 -126 -126 -174 -255 -387
Valuation Ratios		 - - - - - - - - -
Leverage & Solvency		 - - - - - - - - -
Liquidity Ratios		 - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 32 -62 -50 -116 -120 -121 -163 -265
Efficiency Ratios		 - - - - - - - - -
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 -1.21 -69 -45 -56 -31 -5.38 -4.70 -18 -22
Increase / (Decrease) in Invested Capital		 0.00 -67 24 -11 25 26 0.68 -14 -3.87
Book Value per Share		 ($32.75) $4.22 $3.80 $7.75 $4.90 $5.04 $3.12 $3.94 $2.41
Tangible Book Value per Share		 ($32.75) $4.22 $3.80 $7.75 $4.90 $5.04 $3.12 $3.94 $2.41
Total Capital		 57 107 113 285 222 310 275 419 345
Total Debt		 1.04 0.45 0.00 25 50 50 50 50 100
Total Long-Term Debt		 0.40 0.02 0.00 25 48 50 49 50 100
Net Debt		 -57 -175 -157 -316 -203 -266 -230 -387 -268
Capital Expenditures (CapEx)		 0.36 1.49 3.11 4.09 5.25 1.06 0.06 0.10 0.60
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -3.14 -28 -5.10 -39 -50 -24 -23 -33 -38
Debt-free Net Working Capital (DFNWC)		 55 147 152 302 203 292 257 404 330
Net Working Capital (NWC)		 54 147 152 302 201 292 255 404 330
Net Nonoperating Expense (NNE)		 7.47 14 13 26 41 40 46 70 109
Net Nonoperating Obligations (NNO)		 -57 -175 -157 -316 -203 -266 -230 -387 -268
Total Depreciation and Amortization (D&A)		 0.66 0.46 -0.09 1.39 3.88 8.46 -3.10 -3.10 -1.91
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($15.30) ($3.15) ($1.85) ($2.81) ($3.59) ($2.26) ($1.99) ($2.47) ($3.29)
Adjusted Weighted Average Basic Shares Outstanding		 1.63M 26.22M 29.81M 34.26M 36.71M 59.61M 83.35M 99.84M 114.70M
Adjusted Diluted Earnings per Share		 ($15.30) ($3.15) ($1.85) ($2.81) ($3.59) ($2.26) ($1.99) ($2.47) ($3.29)
Adjusted Weighted Average Diluted Shares Outstanding		 1.63M 26.22M 29.81M 34.26M 36.71M 59.61M 83.35M 99.84M 114.70M
Adjusted Basic & Diluted Earnings per Share		 ($15.30) ($3.15) ($1.85) ($2.81) $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 1.63M 15.66M 27.54M 30.73M 35.30M 51.99M 77.87M 94.68M 114.88M
Normalized Net Operating Profit after Tax (NOPAT)		 -18 -35 -38 -61 -91 -94 -120 -176 -269
Debt Service Ratios		 - - - - - - - - -
Payout Ratios		 - - - - - - - - -

Quarterly Metrics And Ratios for Scholar Rock

This table displays calculated financial ratios and metrics derived from Scholar Rock'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		 - - - - - - - - - 102,007,457.00 114,883,096.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - 102,007,457.00 114,883,096.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - -0.89 -0.92
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Growth		 -10.75% -43.24% -45.33% -68.22% -34.19% -43.09% -30.99% -87.81% -59.71% - -33.33%
EBIT Growth		 0.43% -18.81% -44.21% -52.24% -48.33% -44.40% -31.96% -88.59% -59.86% - -33.28%
NOPAT Growth		 0.43% -18.81% -44.21% -52.24% -48.33% -44.40% -31.96% -88.42% -59.85% - -32.33%
Net Income Growth		 2.17% -17.50% -44.37% -54.27% -52.22% -44.07% -31.43% -88.06% -58.53% - -41.20%
EPS Growth		 3.64% -13.64% -20.41% -27.66% -24.53% -24.00% -13.56% -63.33% -36.36% - -23.88%
Operating Cash Flow Growth		 -21.86% -29.20% -15.63% -51.14% -62.54% -32.57% -58.03% -56.40% -31.39% - -4.35%
Free Cash Flow Firm Growth		 54.90% 36.29% -58.66% -42.91% -24.54% -1.32% -78.10% -135.13% -56.42% - -16.02%
Invested Capital Growth		 -655.49% 12.63% -273.98% -285.41% -866.37% -293.41% 58.64% -75.92% -156.13% - -217.99%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Q/Q Growth		 -35.17% -1.42% -21.50% -1.00% -7.82% -8.14% -11.23% -44.84% 8.28% - -12.05%
EBIT Q/Q Growth		 -11.74% -9.98% -21.63% -1.85% -8.88% -7.07% -11.15% -45.59% 7.68% - -11.87%
NOPAT Q/Q Growth		 -11.74% -9.98% -21.63% -1.85% -8.88% -7.07% -11.15% -45.43% 7.63% - -11.01%
Net Income Q/Q Growth		 -11.69% -8.89% -23.26% -2.91% -10.21% -3.06% -12.44% -47.25% 7.10% - -15.99%
EPS Q/Q Growth		 -12.77% 5.66% -18.00% -1.69% -10.00% 6.06% -8.06% -46.27% 8.16% - -12.16%
Operating Cash Flow Q/Q Growth		 0.85% -15.73% -33.30% 1.18% -6.62% 5.61% -58.90% 2.20% 10.42% - -8.75%
Free Cash Flow Firm Q/Q Growth		 -34.65% -16.76% 6.33% 2.96% -17.34% 5.01% -64.66% -28.11% 21.94% - -9.82%
Invested Capital Q/Q Growth		 -127.56% -365.08% -18.33% -22.23% -43.66% -89.33% 87.56% -419.95% -109.16% - 67.29%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBITDA Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
EBIT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Profit (Net Income) Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Tax Burden Percent		 96.99% 96.03% 97.32% 98.34% 99.54% 95.81% 96.93% 100.00% 100.00% - 103.27%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 98.04% 98.65% - 99.38%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Equity (ROE)		 -68.96% -68.30% -89.09% -121.29% -183.07% -82.95% -106.71% -172.08% -218.04% - -138.94%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Return on Assets (OROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Assets (ROA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Return on Common Equity (ROCE)		 -68.96% -68.30% -89.09% -121.29% -183.07% -82.95% -106.71% -172.08% -218.04% - -138.94%
Return on Equity Simple (ROE_SIMPLE)		 -94.78% 0.00% -100.27% -152.56% -285.33% 0.00% -84.58% 0.00% 0.00% - 0.00%
Net Operating Profit after Tax (NOPAT)		 -31 -34 -41 -42 -45 -49 -54 -78 -72 -64 -71
NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Nonoperating Expense Percent (NNEP)		 -5.11% -5.05% -7.71% -9.94% -14.85% -5.80% -8.25% -16.36% -16.57% - -11.41%
Return On Investment Capital (ROIC_SIMPLE)		 - -12.22% - - - -11.59% -14.90% -27.73% -21.03% -18.63% -15.11%
Cost of Revenue to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
SG&A Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
R&D to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Operating Expenses to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings before Interest and Taxes (EBIT)		 -44 -48 -58 -59 -65 -69 -77 -112 -104 -92 -103
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -48 -49 -60 -60 -65 -70 -78 -113 -104 -92 -103
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.38 6.02 7.57 4.97 8.09 10.98 9.75 14.42 14.61 - 20.46
Price to Tangible Book Value (P/TBV)		 2.38 6.02 7.57 4.97 8.09 10.98 9.75 14.42 14.61 - 20.46
Price to Revenue (P/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.30 0.22 0.27 0.37 0.63 0.14 0.16 0.21 0.41 - 0.71
Long-Term Debt to Equity		 0.30 0.22 0.24 0.36 0.63 0.14 0.16 0.21 0.41 - 0.71
Financial Leverage		 -1.00 -1.02 -1.01 -1.01 -1.04 -1.04 -1.02 -1.05 -1.11 - -1.02
Leverage Ratio		 1.39 1.38 1.41 1.52 1.74 1.32 1.36 1.55 1.82 - 1.60
Compound Leverage Factor		 1.39 1.38 1.41 1.52 1.74 1.32 1.36 1.51 1.80 - 1.59
Debt to Total Capital		 22.96% 18.17% 21.51% 27.26% 38.75% 11.97% 13.74% 17.58% 28.91% - 41.60%
Short-Term Debt to Total Capital		 0.00% 0.48% 2.36% 0.86% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Long-Term Debt to Total Capital		 22.96% 17.69% 19.15% 26.39% 38.75% 11.97% 13.74% 17.58% 28.91% - 41.60%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Common Equity to Total Capital		 77.04% 81.83% 78.49% 72.74% 61.25% 88.03% 86.26% 82.42% 71.09% - 58.40%
Debt to EBITDA		 -0.31 -0.29 -0.26 -0.23 -0.21 -0.20 -0.18 -0.15 -0.27 - -0.48
Net Debt to EBITDA		 1.06 1.32 0.98 0.65 0.38 1.52 1.15 0.75 0.74 - 0.69
Long-Term Debt to EBITDA		 -0.31 -0.28 -0.23 -0.22 -0.21 -0.20 -0.18 -0.15 -0.27 - -0.48
Debt to NOPAT		 -0.44 -0.42 -0.38 -0.34 -0.31 -0.28 -0.26 -0.22 -0.39 - -0.69
Net Debt to NOPAT		 1.47 1.92 1.42 0.96 0.55 2.19 1.66 1.08 1.07 - 0.99
Long-Term Debt to NOPAT		 -0.44 -0.41 -0.34 -0.33 -0.31 -0.28 -0.26 -0.22 -0.39 - -0.69
Altman Z-Score		 -0.24 6.91 6.20 -0.60 -3.28 20.66 16.15 14.20 8.90 - 9.78
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 8.55 8.80 6.58 6.04 3.88 9.61 10.25 6.33 6.30 - 8.64
Quick Ratio		 8.18 8.55 6.36 5.77 3.53 9.32 9.70 5.85 5.96 - 8.05
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -29 -34 -32 -31 -37 -35 -57 -73 -57 -60 -66
Operating Cash Flow to CapEx		 0.00% 0.00% -216,456.52% -223,618.18% -169,209.68% -225,059.09% -29,031.37% -35,786.51% -82,051.19% - -120,736.76%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -60.79 -42.90 - -28.84
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -63.80 -51.67 - -35.67
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -63.98 -51.73 - -35.69
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Receivable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Fixed Asset Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Accounts Payable Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Sales Outstanding (DSO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Days Payable Outstanding (DPO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Cash Conversion Cycle (CCC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -1.01 -4.70 -5.56 -6.80 -9.77 -18 -2.30 -12 -25 -22 -7.32
Invested Capital Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Increase / (Decrease) in Invested Capital		 -1.19 0.68 -8.76 -10 -8.76 -14 3.26 -5.16 -15 -3.87 -5.02
Enterprise Value (EV)		 231 1,126 1,195 524 552 3,659 2,729 3,118 3,310 - 5,364
Market Capitalization		 399 1,356 1,383 664 641 4,046 3,044 3,363 3,580 - 5,648
Book Value per Share		 $2.98 $3.12 $2.35 $1.68 $0.99 $3.94 $3.30 $2.46 $2.55 $2.41 $2.40
Tangible Book Value per Share		 $2.98 $3.12 $2.35 $1.68 $0.99 $3.94 $3.30 $2.46 $2.55 $2.41 $2.40
Total Capital		 218 275 233 184 129 419 362 283 345 345 473
Total Debt		 50 50 50 50 50 50 50 50 100 100 197
Total Long-Term Debt		 50 49 45 48 50 50 50 50 100 100 197
Net Debt		 -169 -230 -188 -140 -89 -387 -315 -245 -270 -268 -283
Capital Expenditures (CapEx)		 0.00 0.00 0.02 0.02 0.03 0.02 0.27 0.22 0.08 0.03 0.07
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -17 -23 -24 -23 -26 -33 -17 -26 -41 -38 -24
Debt-free Net Working Capital (DFNWC)		 202 257 215 168 114 404 348 269 329 330 456
Net Working Capital (NWC)		 202 255 209 166 114 404 348 269 329 330 456
Net Nonoperating Expense (NNE)		 12 13 16 17 19 18 21 32 30 27 34
Net Nonoperating Obligations (NNO)		 -169 -230 -188 -140 -89 -387 -315 -245 -270 -268 -283
Total Depreciation and Amortization (D&A)		 -4.75 -1.07 -1.24 -0.76 -0.19 -0.90 -1.06 -0.96 -0.21 0.33 0.20
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt-free Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Net Working Capital to Revenue		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.53) ($0.50) ($0.59) ($0.60) ($0.66) ($0.62) ($0.67) ($0.98) ($0.90) ($0.74) ($0.83)
Adjusted Weighted Average Basic Shares Outstanding		 80.61M 83.35M 95.89M 96.81M 97.05M 99.84M 111.84M 112.70M 113.73M 114.70M 127.28M
Adjusted Diluted Earnings per Share		 ($0.53) ($0.50) ($0.59) ($0.60) ($0.66) ($0.62) ($0.67) ($0.98) ($0.90) ($0.74) ($0.83)
Adjusted Weighted Average Diluted Shares Outstanding		 80.61M 83.35M 95.89M 96.81M 97.05M 99.84M 111.84M 112.70M 113.73M 114.70M 127.28M
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		 72.14M 77.87M 79.75M 80.03M 93.61M 94.68M 94.95M 96.13M 102.01M 114.88M 119.83M
Normalized Net Operating Profit after Tax (NOPAT)		 -31 -34 -41 -42 -45 -49 -54 -78 -72 -64 -71
Normalized NOPAT Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Pre Tax Income Margin		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -93.06 -77.68 - -44.66
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -65.07 -54.34 - -31.02
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -93.24 -77.74 - -44.69
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -65.25 -54.40 - -31.05
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% - 0.00%

Financials Breakdown Chart

Key Financial Trends

MarketBeat analysis of Scholar Rock (SRRK) over the last four years shows a pre-revenue biotech company with ongoing cash burn from operations, largely funded by equity/debt financings and asset sales. Below are the ten most impactful trends drawn from quarterly statements (cash flow, income, and balance sheet).

  • Financing inflows crowd the liquidity picture: net cash from financing activities was about $144.5 million in Q3 2025 and about $73.3 million in Q4 2025, providing substantial liquidity to fund ongoing R&D and operations.
  • Equity financing highlights access to capital: issuance of common equity totaled $91.66 million in Q3 2025 and $324.41 million in Q4 2024, indicating significant capital raising capabilities.
  • Cash position improving into 2025: cash and equivalents rose to roughly $286.8 million by 2025-Q3, largely aided by financing activity and asset sales.
  • Investing activity yields cash through asset sales: sale/maturity of investments produced notable inflows (e.g., $78.5 million in Q3 2025 and $39.0 million in Q4 2025), and older quarters show similar patterns (e.g., $78.5 million in 2024 Q3, $79.0 million in 2023 Q4).
  • Non-cash adjustments provide some operating cash flow support: non-cash adjustments to net income added to operating cash flow in multiple quarters (Q4 2025: $19.55M; Q3 2025: $15.16M; Q2 2025: $25.73M; Q1 2025: $14.65M).
  • Revenue remains zero in the latest quarters: Scholar Rock continues to operate as a pre-revenue company, with total revenue reported as $0 in several periods.
  • Operating cash flow remains negative: net cash from continuing operating activities was about -$75.50M in Q4 2025, -$68.92M in Q3 2025, -$76.94M in Q2 2025, and -$78.68M in Q1 2025, signaling ongoing cash burn.
  • Heavy investing outflows to deploy assets: significant purchases of investments and other investing outlays (examples include Q4 2024 -$210.45M and Q3 2023 -$210.69M) contributed to substantial cash use, offsetting some financing inflows.
  • Earnings per share remain negative: Basic and diluted EPS ran from about -$0.67 to -$0.98 in the 2025 quarters, reflecting ongoing losses per share.
  • Debt and liabilities backdrop persists: long-term debt sits around $99.6 million (as of 2025-Q3), with ongoing financing activity used to support liquidity while the company builds its pipeline.
05/16/26 06:50 PM ETAI Generated. May Contain Errors.

Scholar Rock Financials - Frequently Asked Questions

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

Scholar Rock's net income appears to be on an upward trend, with a most recent value of -$377.94 million in 2025, rising from -$25.00 million in 2017. The previous period was -$246.29 million in 2024. See where experts think Scholar Rock is headed by visiting Scholar Rock's forecast page.

Scholar Rock's total operating income in 2025 was -$384.65 million, based on the following breakdown:
  • Total Gross Profit: $0.00
  • Total Operating Expenses: $384.65 million

Over the last 8 years, Scholar Rock's total revenue changed from $0.00 in 2017 to $0.00 in 2025, a change of 0.0%.

Scholar Rock's total liabilities were at $158.78 million at the end of 2025, a 49.4% increase from 2024, and a 2,579.0% increase since 2017.

In the past 8 years, Scholar Rock's cash and equivalents has ranged from $36.31 million in 2019 to $323.53 million in 2025, and is currently $323.53 million as of their latest financial filing in 2025.

Over the last 8 years, Scholar Rock's book value per share changed from -32.75 in 2017 to 2.41 in 2025, a change of -107.3%.


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