What is Instil Bio's operating income?

Instil Bio's total operating income in 2025 was -$78.58 million, based on the following breakdown: Total Gross Profit: $0.00 Total Operating Expenses: $78.58 million

Instil Bio (TIL) Financials

$7.51 -0.11 (-1.44%)

Closing price 07/16/2026 04:00 PM Eastern

Extended Trading

$7.52 +0.02 (+0.20%)

As of 07/16/2026 04:10 PM Eastern

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Annual Income Statements for Instil Bio

This table shows Instil Bio'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	-38	-157	-223	-156	-74	-71
Consolidated Net Income / (Loss)	-38	-157	-223	-156	-74	-71
Net Income / (Loss) Continuing Operations	-38	-157	-223	-156	-74	-71
Total Pre-Tax Income	-38	-157	-225	-156	-74	-71
Total Operating Income	-34	-156	-226	-159	-74	-79
Total Gross Profit	0.14	0.00	0.00	0.00	0.00	0.00
Total Revenue	0.14	0.00	0.00	0.00	0.00	0.00
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	34	156	226	159	74	79
Selling, General & Admin Expense	14	48	62	48	44	27
Research & Development Expense	19	107	141	40	22	35
Restructuring Charge	-	0.00	23	72	7.49	17
Total Other Income / (Expense), net	-3.94	-1.20	1.21	3.08	-0.59	7.21
Interest Expense	-	0.00	1.88	5.21	8.99	5.83
Interest & Investment Income	-	0.08	3.66	8.87	11	13
Other Income / (Expense), net	-3.94	-1.28	-0.56	-0.58	-2.86	0.21
Basic Earnings per Share	($2.36)	($1.48)	($34.46)	($24.00)	($11.39)	($10.70)
Weighted Average Basic Shares Outstanding	16.00M	105.99M	6.48M	6.50M	6.51M	6.67M
Diluted Earnings per Share	($2.36)	($1.48)	($34.46)	($24.00)	($11.39)	($10.70)
Weighted Average Diluted Shares Outstanding	16.00M	105.99M	6.48M	6.50M	6.51M	6.67M
Weighted Average Basic & Diluted Shares Outstanding	-	129.13M	130.08M	6.50M	6.53M	6.78M

This table shows Instil Bio'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	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Consolidated Net Income / (Loss)	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Net Income / (Loss) Continuing Operations	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Total Pre-Tax Income	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Total Operating Income	-67	-13	-24	-14	-24	-12	-31	-23	-15	-9.56	-7.01
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	67	13	24	14	24	12	31	23	15	9.56	5.39
Selling, General & Admin Expense	12	11	12	11	11	10	9.11	6.16	5.90	6.06	5.35
Research & Development Expense	8.49	1.98	7.26	2.92	11	1.10	5.37	17	9.13	3.50	0.67
Restructuring Charge	46	0.17	4.28	0.51	2.36	0.35	16	0.54	0.00	-	0.99
Other Special Charges / (Income)	-	-	-	-	-	-	-	-	-	-	-1.62
Total Other Income / (Expense), net	-0.72	0.10	-0.35	-0.78	0.61	-0.08	2.32	2.05	1.44	1.37	1.19
Interest Expense	2.00	1.98	1.98	2.00	2.01	3.01	1.10	1.58	1.58	1.57	1.55
Interest & Investment Income	2.31	2.20	2.06	1.92	3.15	4.13	3.42	3.29	3.14	2.99	2.92
Other Income / (Expense), net	-1.03	-0.12	-0.43	-0.70	-0.53	-1.20	-	0.34	-0.12	-0.06	-0.18
Basic Earnings per Share	($10.37)	($1.99)	($3.74)	($2.29)	($3.54)	($1.83)	($4.32)	($3.24)	($2.01)	($1.23)	($0.62)
Weighted Average Basic Shares Outstanding	6.50M	6.50M	6.50M	6.50M	6.51M	6.51M	6.53M	6.60M	6.76M	6.67M	6.78M
Diluted Earnings per Share	($10.37)	($1.99)	($3.74)	($2.29)	($3.54)	($1.83)	($4.32)	($3.24)	($2.01)	($1.23)	($0.62)
Weighted Average Diluted Shares Outstanding	6.50M	6.50M	6.50M	6.50M	6.51M	6.51M	6.53M	6.60M	6.76M	6.67M	6.78M
Weighted Average Basic & Diluted Shares Outstanding	130.08M	6.50M	6.50M	6.50M	6.53M	6.53M	6.56M	6.75M	6.78M	6.78M	6.78M

This table details how cash moves in and out of Instil Bio'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	232	-203	6.26	-33	0.03	-3.85
Net Cash From Operating Activities	-30	-122	-180	-82	-56	-37
Net Cash From Continuing Operating Activities	-30	-122	-180	-82	-56	-37
Net Income / (Loss) Continuing Operations	-38	-157	-223	-156	-74	-71
Consolidated Net Income / (Loss)	-38	-157	-223	-156	-74	-71
Depreciation Expense	0.26	2.75	5.99	4.76	3.61	0.53
Non-Cash Adjustments To Reconcile Net Income	5.46	27	51	81	26	32
Changes in Operating Assets and Liabilities, net	2.40	4.66	-14	-11	-11	1.80
Net Cash From Investing Activities	-51	-474	115	41	54	25
Net Cash From Continuing Investing Activities	-51	-474	115	41	54	25
Acquisitions	-0.31	-	-	0.00	-10	-10
Purchase of Investments	0.00	-1,108	-666	-301	-136	-101
Sale of Property, Plant & Equipment	-	-	0.00	1.56	0.87	0.43
Sale and/or Maturity of Investments	0.00	691	865	362	199	136
Net Cash From Financing Activities	313	393	72	8.08	1.76	7.29
Net Cash From Continuing Financing Activities	313	393	72	8.08	1.76	7.29
Repayment of Debt	0.07	-0.07	0.00	8.08	-83	0.00
Issuance of Debt	-	0.00	70	0.00	86	0.00
Issuance of Common Equity	0.00	339	-	-	0.00	6.61
Other Financing Activities, net	0.37	1.76	1.55	0.00	-1.01	0.68
Cash Interest Paid	-	0.00	1.07	6.64	8.00	5.04

This table details how cash moves in and out of Instil Bio'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	-13	0.57	-5.15	1.31	-0.16	4.04	5.65	-8.51	-1.73	0.74	-1.65
Net Cash From Operating Activities	-14	-13	-14	-11	-20	-11	-4.20	-15	-11	-7.08	-1.34
Net Cash From Continuing Operating Activities	-14	-13	-14	-11	-20	-11	-4.20	-15	-11	-7.08	-1.34
Net Income / (Loss) Continuing Operations	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Consolidated Net Income / (Loss)	-67	-13	-24	-15	-23	-12	-28	-21	-14	-8.19	-4.20
Depreciation Expense	0.95	1.04	0.99	0.98	0.90	0.74	0.50	0.01	0.01	0.01	0.01
Amortization Expense	-	-	-	-	-	-	-0.24	-	-	-	0.18
Non-Cash Adjustments To Reconcile Net Income	50	2.28	6.75	3.61	13	2.52	19	12	-0.82	1.62	1.08
Changes in Operating Assets and Liabilities, net	1.68	-3.78	2.16	-0.28	-11	-1.92	5.01	-5.14	3.83	-0.52	1.60
Net Cash From Investing Activities	2.32	14	9.24	12	20	13	9.61	-0.40	8.45	7.82	-0.32
Net Cash From Continuing Investing Activities	2.32	14	9.24	12	20	13	9.61	-0.40	8.45	7.82	-0.32
Purchase of Investments	-72	-51	-51	-40	-17	-27	-38	-39	-6.56	-17	-22
Sale of Property, Plant & Equipment	-	1.56	0.00	0.54	0.01	0.32	0.41	0.01	0.01	0.01	0.00
Sale and/or Maturity of Investments	80	63	60	52	47	40	47	38	25	25	22
Net Cash From Financing Activities	-0.59	-	0.00	-	0.16	1.60	0.23	6.68	0.38	-	0.00
Net Cash From Continuing Financing Activities	-0.59	-	0.00	-	0.16	1.60	0.23	6.68	0.38	-	0.00
Other Financing Activities, net	-	-	0.00	-	0.16	-1.17	0.23	0.07	0.38	-	0.00
Cash Interest Paid	1.75	1.73	1.73	1.75	1.76	2.76	0.89	1.39	1.39	1.37	1.36

This table presents Instil Bio'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	319	610	482	326	264	204
Total Current Assets	246	464	269	161	124	191
Cash & Equivalents	242	38	44	9.20	8.81	6.64
Restricted Cash	-	-	0.00	1.50	1.83	0.17
Short-Term Investments	-	417	217	141	105	69
Prepaid Expenses	4.42	9.92	8.46	8.90	9.33	3.04
Other Current Assets	-	-	-	-	0.00	112
Plant, Property, & Equipment, net	55	122	197	139	129	0.13
Total Noncurrent Assets	18	24	16	26	9.69	12
Noncurrent Note & Lease Receivables	-	-	-	-	4.27	7.66
Other Noncurrent Operating Assets	1.71	8.14	16	3.03	5.42	4.30
Total Liabilities & Shareholders' Equity	319	610	482	326	264	204
Total Liabilities	27	55	119	100	94	90
Total Current Liabilities	13	41	33	11	7.90	4.84
Accounts Payable	3.50	5.57	2.36	1.21	0.66	0.78
Accrued Expenses	8.40	34	30	9.35	7.24	4.06
Total Noncurrent Liabilities	13	13	86	89	86	85
Long-Term Debt	-	0.00	72	81	84	85
Other Noncurrent Operating Liabilities	11	11	13	7.82	2.05	0.01
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-40	555	364	226	169	114
Total Preferred & Common Equity	-40	555	364	226	169	114
Preferred Stock	-	-	0.00	0.00	0.00	0.00
Total Common Equity	-40	555	364	226	169	114
Common Stock	5.61	757	789	807	825	841
Retained Earnings	-45	-202	-425	-581	-655	-726
Accumulated Other Comprehensive Income / (Loss)	-0.28	-0.09	-0.49	-0.35	-0.23	-0.58

This table presents Instil Bio'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 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	340	306	294	273	237	231	212	200
Total Current Assets	196	161	155	133	219	207	196	188
Cash & Equivalents	9.13	5.48	6.78	6.66	15	7.69	5.80	5.02
Restricted Cash	-	0.00	0.00	0.00	0.96	0.15	0.28	0.12
Short-Term Investments	174	148	142	114	88	84	74	70
Prepaid Expenses	11	6.33	6.32	12	2.56	3.32	4.22	1.51
Other Current Assets	1.60	0.92	-	-	112	112	112	112
Plant, Property, & Equipment, net	139	134	133	130	0.16	0.15	0.14	0.11
Total Noncurrent Assets	5.21	11	6.26	9.84	18	23	15	12
Noncurrent Note & Lease Receivables	-	-	-	-	-	-	7.36	7.97
Other Noncurrent Operating Assets	5.21	3.70	2.29	7.29	11	12	4.56	4.05
Total Liabilities & Shareholders' Equity	340	306	294	273	237	231	212	200
Total Liabilities	106	100	99	96	93	99	91	90
Total Current Liabilities	13	11	10	10	7.23	14	5.70	4.72
Accounts Payable	1.65	1.23	1.22	1.20	0.29	0.52	0.93	0.79
Accrued Expenses	12	10	9.07	9.09	6.94	13	4.77	3.93
Total Noncurrent Liabilities	93	89	89	86	85	85	86	85
Long-Term Debt	81	82	82	82	84	84	85	85
Other Noncurrent Operating Liabilities	12	7.45	7.08	3.78	1.08	1.04	1.04	0.01
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	234	206	195	176	145	132	120	111
Total Preferred & Common Equity	234	206	195	176	145	132	120	111
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	234	206	195	176	145	132	120	111
Common Stock	803	812	816	820	829	837	839	842
Retained Earnings	-568	-605	-620	-643	-683	-705	-718	-731
Accumulated Other Comprehensive Income / (Loss)	-0.53	-0.56	-0.63	-0.52	-0.45	-0.81	-0.61	-0.53

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	128,926,778.00	129,775,097.00	260,158,194.00	6,525,887.00	6,781,976.00
DEI Adjusted Shares Outstanding	0.00	6,446,339.00	6,488,755.00	13,007,910.00	6,525,887.00	6,781,976.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-24.32	-34.39	-12.00	-11.36	-10.52
Growth Metrics	-	-	-	-	-	-
Revenue Growth	0.00%	-100.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Growth	0.00%	-312.75%	-43.45%	29.88%	53.04%	-6.94%
EBIT Growth	0.00%	-317.26%	-44.75%	29.64%	52.18%	-2.58%
NOPAT Growth	0.00%	-362.37%	-45.58%	29.71%	53.80%	-6.85%
Net Income Growth	0.00%	-315.48%	-42.34%	30.06%	52.50%	3.73%
EPS Growth	0.00%	37.29%	-42.34%	30.35%	52.54%	6.06%
Operating Cash Flow Growth	0.00%	-312.41%	-47.51%	54.47%	32.10%	34.25%
Free Cash Flow Firm Growth	0.00%	0.00%	-45.31%	70.51%	15.44%	32.59%
Invested Capital Growth	0.00%	96.86%	71.22%	-24.61%	4.72%	-11.63%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	0.00%	-31.38%	-1.10%	21.04%	-0.24%	3.32%
EBIT Q/Q Growth	0.00%	-31.48%	-1.62%	20.96%	0.16%	4.16%
NOPAT Q/Q Growth	0.00%	-30.41%	-1.36%	21.57%	1.61%	2.80%
Net Income Q/Q Growth	0.00%	-32.17%	0.67%	20.77%	1.37%	4.93%
EPS Q/Q Growth	0.00%	-60.87%	0.67%	20.77%	1.39%	3.69%
Operating Cash Flow Q/Q Growth	0.00%	-27.00%	3.13%	22.34%	4.82%	8.69%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	3.34%	33.81%	-3.96%	10.10%
Invested Capital Q/Q Growth	0.00%	16.95%	2.76%	0.37%	2.61%	0.60%
Profitability Metrics	-	-	-	-	-	-
Gross Margin	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EBITDA Margin	-27,051.45%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Margin	-24,379.71%	0.00%	0.00%	0.00%	0.00%	0.00%
EBIT Margin	-27,236.96%	0.00%	0.00%	0.00%	0.00%	0.00%
Profit (Net Income) Margin	-27,346.38%	0.00%	0.00%	0.00%	0.00%	0.00%
Tax Burden Percent	100.40%	100.02%	99.08%	100.00%	100.00%	100.00%
Interest Burden Percent	100.00%	99.95%	99.22%	97.71%	97.04%	91.07%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-45.26%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	-39.35%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	32.35%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-12.91%	-37.00%	-48.58%	-52.96%	-37.51%	-50.39%
Cash Return on Invested Capital (CROIC)	0.00%	-206.24%	-166.63%	-44.38%	-42.64%	-29.83%
Operating Return on Assets (OROA)	-11.78%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Assets (ROA)	-11.83%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Common Equity (ROCE)	1.75%	-22.51%	-48.58%	-52.96%	-37.51%	-50.39%
Return on Equity Simple (ROE_SIMPLE)	95.30%	-28.24%	-61.38%	-69.12%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-24	-109	-159	-111	-51	-55
NOPAT Margin	-17,065.80%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Nonoperating Expense Percent (NNEP)	-5.90%	-13.82%	-20.17%	-31.70%	-36.38%	-145.81%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-36.26%	-20.30%	-27.69%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	10,422.46%	0.00%	0.00%	0.00%	0.00%	0.00%
R&D to Revenue	14,057.25%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	24,479.71%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings before Interest and Taxes (EBIT)	-38	-157	-227	-160	-76	-78
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-37	-154	-221	-155	-73	-78
Valuation Ratios	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	3.97	0.22	0.22	0.74	0.66
Price to Tangible Book Value (P/TBV)	0.00	4.09	0.22	0.22	0.74	0.66
Price to Revenue (P/Rev)	2,318.84	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)	7.91	17.11	0.00	0.00	0.68	0.68
Enterprise Value to Revenue (EV/Rev)	2,982.87	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	0.20	0.36	0.50	0.74
Long-Term Debt to Equity	0.00	0.00	0.20	0.36	0.50	0.74
Financial Leverage	-0.82	-0.82	-0.70	-0.48	-0.32	-0.08
Leverage Ratio	1.09	1.10	1.19	1.37	1.49	1.65
Compound Leverage Factor	1.09	1.10	1.18	1.34	1.45	1.50
Debt to Total Capital	0.47%	0.24%	16.66%	26.50%	33.19%	42.69%
Short-Term Debt to Total Capital	0.47%	0.24%	0.08%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	16.58%	26.50%	33.19%	42.69%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	113.01%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-13.48%	99.76%	83.34%	73.50%	66.81%	57.31%
Debt to EBITDA	-0.04	-0.01	-0.33	-0.53	-1.16	-1.09
Net Debt to EBITDA	6.44	2.94	0.85	0.60	0.43	-0.11
Long-Term Debt to EBITDA	0.00	0.00	-0.33	-0.53	-1.16	-1.09
Debt to NOPAT	-0.06	-0.01	-0.46	-0.73	-1.64	-1.54
Net Debt to NOPAT	10.20	4.16	1.19	0.84	0.60	-0.15
Long-Term Debt to NOPAT	0.00	0.00	-0.46	-0.73	-1.64	-1.54
Altman Z-Score	7.50	23.68	-1.78	-3.27	-3.11	-4.67
Noncontrolling Interest Sharing Ratio	113.54%	39.17%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-
Current Ratio	18.53	11.22	8.22	15.22	15.76	39.53
Quick Ratio	18.20	10.98	7.96	14.24	14.35	15.72
Cash Flow Metrics	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-159	-231	-68	-58	-39
Operating Cash Flow to CapEx	-58.28%	-211.20%	-212.99%	-429.34%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-122.93	-13.10	-6.42	-6.67
Operating Cash Flow to Interest Expense	0.00	0.00	-95.68	-15.75	-6.19	-6.28
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-140.60	-19.42	-6.10	-6.21
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	52	102	175	132	138	122
Invested Capital Turnover	0.00	0.00	0.00	0.00	0.00	0.00
Increase / (Decrease) in Invested Capital	0.00	50	73	-43	6.24	-16
Enterprise Value (EV)	412	1,753	-106	-44	94	83
Market Capitalization	320	2,206	82	50	125	75
Book Value per Share	($2.48)	$4.31	$2.80	$1.74	$25.96	$16.79
Tangible Book Value per Share	($3.46)	$4.18	$2.80	$1.74	$25.96	$16.79
Total Capital	294	557	436	307	254	199
Total Debt	1.38	1.34	73	81	84	85
Total Long-Term Debt	0.00	0.00	72	81	84	85
Net Debt	-240	-453	-188	-94	-31	8.51
Capital Expenditures (CapEx)	51	58	85	19	-0.87	-0.43
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-7.47	-30	-24	-1.66	1.43	110
Debt-free Net Working Capital (DFNWC)	234	424	237	150	117	187
Net Working Capital (NWC)	233	423	237	150	117	187
Net Nonoperating Expense (NNE)	14	48	65	45	23	16
Net Nonoperating Obligations (NNO)	-240	-453	-188	-94	-31	8.51
Total Depreciation and Amortization (D&A)	0.26	2.75	5.99	4.76	3.61	0.53
Debt-free, Cash-free Net Working Capital to Revenue	-5,415.22%	0.00%	0.00%	0.00%	0.00%	0.00%
Debt-free Net Working Capital to Revenue	169,739.86%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Working Capital to Revenue	168,736.96%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Adjustments	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	($29.60)	($34.40)	($24.00)	($11.39)	($10.70)
Adjusted Weighted Average Basic Shares Outstanding	0.00	5.30M	6.48M	6.50M	6.51M	6.67M
Adjusted Diluted Earnings per Share	$0.00	($29.60)	($34.40)	($24.00)	($11.39)	($10.70)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	5.30M	6.48M	6.50M	6.51M	6.67M
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	6.46M	6.50M	6.50M	6.53M	6.78M
Normalized Net Operating Profit after Tax (NOPAT)	-24	-109	-142	-61	-46	-43
Normalized NOPAT Margin	-17,065.80%	0.00%	0.00%	0.00%	0.00%	0.00%
Pre Tax Income Margin	-27,236.96%	0.00%	0.00%	0.00%	0.00%	0.00%
Debt Service Ratios	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-120.56	-30.67	-8.50	-13.44
NOPAT to Interest Expense	0.00	0.00	-84.19	-21.39	-5.72	-9.44
EBIT Less CapEx to Interest Expense	0.00	0.00	-165.49	-34.33	-8.40	-13.37
NOPAT Less CapEx to Interest Expense	0.00	0.00	-129.11	-25.06	-5.63	-9.36
Payout Ratios	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Instil Bio'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	130,079,097.00	260,158,194.00	6,503,913.00	6,503,913.00	6,503,913.00	6,525,887.00	6,525,887.00	6,559,927.00	6,750,716.00	6,781,976.00	6,781,976.00
DEI Adjusted Shares Outstanding	6,503,955.00	13,007,910.00	6,503,913.00	6,503,913.00	6,503,913.00	6,525,887.00	6,525,887.00	6,559,927.00	6,750,716.00	6,781,976.00	6,781,976.00
DEI Earnings Per Adjusted Shares Outstanding	-10.37	-0.99	-3.74	-2.29	-3.54	-1.82	-4.32	-3.26	-2.01	-1.21	-0.62
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	-21.16%	77.33%	58.77%	28.43%	65.17%	-1.41%	-29.54%	-66.54%	34.96%	21.79%	76.89%
EBIT Growth	-18.71%	76.32%	58.32%	27.12%	64.33%	0.94%	-25.34%	-55.68%	37.34%	26.15%	76.47%
NOPAT Growth	-17.77%	77.08%	59.01%	32.65%	64.58%	9.22%	-27.58%	-65.83%	36.43%	19.15%	77.06%
Net Income Growth	-19.93%	76.00%	57.42%	20.07%	65.86%	7.97%	-16.04%	-43.42%	40.98%	31.14%	85.09%
EPS Growth	-19.93%	76.05%	57.35%	20.21%	65.86%	8.04%	-15.51%	-41.48%	43.22%	32.79%	85.65%
Operating Cash Flow Growth	64.71%	63.81%	58.48%	45.75%	-39.56%	21.09%	70.85%	-39.38%	47.56%	32.99%	68.13%
Free Cash Flow Firm Growth	93.67%	130.20%	129.32%	210.93%	-154.19%	-142.63%	-156.79%	-110.66%	114.18%	164.84%	32.40%
Invested Capital Growth	-22.81%	-24.61%	-23.67%	-29.52%	2.43%	4.72%	-6.91%	-9.58%	-9.87%	-11.63%	3.12%
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	-244.84%	81.88%	-93.24%	40.74%	-67.80%	47.23%	-146.84%	23.10%	34.47%	36.54%	27.06%
EBIT Q/Q Growth	-232.74%	80.60%	-85.56%	39.15%	-62.84%	46.13%	-134.80%	24.32%	34.45%	36.51%	25.18%
NOPAT Q/Q Growth	-217.89%	80.48%	-83.99%	40.99%	-67.18%	49.98%	-158.56%	23.30%	35.91%	36.38%	26.65%
Net Income Q/Q Growth	-261.33%	80.83%	-88.02%	38.62%	-54.33%	48.33%	-137.07%	24.13%	36.49%	39.71%	48.68%
EPS Q/Q Growth	-261.33%	80.81%	-87.94%	38.77%	-54.59%	48.31%	-136.07%	25.00%	37.96%	38.81%	49.59%
Operating Cash Flow Q/Q Growth	26.25%	7.24%	-7.56%	26.26%	-89.72%	47.55%	60.27%	-252.59%	28.63%	32.97%	81.11%
Free Cash Flow Firm Q/Q Growth	79.58%	538.24%	-34.41%	88.95%	-146.80%	26.50%	12.63%	64.52%	162.23%	236.16%	-191.09%
Invested Capital Q/Q Growth	-25.33%	0.37%	-4.68%	-1.33%	8.52%	2.61%	-15.27%	-4.16%	8.17%	0.60%	-1.12%
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%	100.00%	100.00%	100.00%	100.00%	99.85%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	99.54%	98.36%	99.67%	100.54%	95.28%	91.39%	92.41%	92.62%	89.74%	85.22%	58.45%
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)	-61.12%	-52.96%	-47.71%	-48.65%	-36.63%	-37.51%	-44.50%	-51.74%	-50.60%	-50.39%	-37.07%
Cash Return on Invested Capital (CROIC)	-68.20%	-44.38%	-33.09%	-20.21%	-41.63%	-42.64%	-38.94%	-42.82%	-33.73%	-29.83%	-35.40%
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)	-61.12%	-52.96%	-47.71%	-48.65%	-36.63%	-37.51%	-44.50%	-51.74%	-50.60%	-50.39%	-37.07%
Return on Equity Simple (ROE_SIMPLE)	-84.18%	0.00%	-59.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-47	-9.11	-17	-9.89	-17	-8.27	-21	-16	-11	-6.69	-4.91
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)	-12.12%	-2.70%	-6.67%	-5.27%	-9.02%	-5.81%	-12.68%	-11.10%	-15.30%	-13.37%	8.14%
Return On Investment Capital (ROIC_SIMPLE)	-	-2.97%	-5.83%	-3.57%	-6.40%	-3.26%	-9.34%	-7.59%	-5.13%	-3.37%	-2.51%
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)	-68	-13	-24	-15	-24	-13	-31	-23	-15	-9.61	-7.19
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-67	-12	-23	-14	-23	-12	-30	-23	-15	-9.60	-7.00
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.24	0.22	0.34	0.34	2.48	0.74	0.78	1.04	1.00	0.66	0.50
Price to Tangible Book Value (P/TBV)	0.24	0.22	0.34	0.34	2.48	0.74	0.78	1.04	1.00	0.66	0.50
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	2.94	0.68	0.73	1.04	1.00	0.68	0.55
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	0.35	0.36	0.40	0.42	0.47	0.50	0.58	0.64	0.70	0.74	0.77
Long-Term Debt to Equity	0.35	0.36	0.40	0.42	0.47	0.50	0.58	0.64	0.70	0.74	0.77
Financial Leverage	-0.53	-0.48	-0.44	-0.39	-0.35	-0.32	-0.31	-0.28	-0.14	-0.08	-0.07
Leverage Ratio	1.35	1.37	1.42	1.43	1.49	1.49	1.55	1.61	1.63	1.65	1.71
Compound Leverage Factor	1.35	1.35	1.41	1.44	1.42	1.36	1.43	1.49	1.46	1.41	1.00
Debt to Total Capital	25.75%	26.50%	28.41%	29.58%	31.79%	33.19%	36.76%	39.07%	41.27%	42.69%	43.43%
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	25.75%	26.50%	28.41%	29.58%	31.79%	33.19%	36.76%	39.07%	41.27%	42.69%	43.43%
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	74.25%	73.50%	71.59%	70.42%	68.21%	66.81%	63.24%	60.93%	58.73%	57.31%	56.57%
Debt to EBITDA	-0.41	-0.53	-0.67	-0.71	-1.13	-1.16	-1.09	-0.95	-1.05	-1.09	-1.55
Net Debt to EBITDA	0.52	0.60	0.66	0.61	0.56	0.43	0.36	0.22	-0.02	-0.11	-0.19
Long-Term Debt to EBITDA	-0.41	-0.53	-0.67	-0.71	-1.13	-1.16	-1.09	-0.95	-1.05	-1.09	-1.55
Debt to NOPAT	-0.57	-0.73	-0.94	-0.99	-1.57	-1.64	-1.50	-1.35	-1.50	-1.54	-2.21
Net Debt to NOPAT	0.72	0.84	0.91	0.86	0.78	0.60	0.49	0.31	-0.02	-0.15	-0.27
Long-Term Debt to NOPAT	-0.57	-0.73	-0.94	-0.99	-1.57	-1.64	-1.50	-1.35	-1.50	-1.54	-2.21
Altman Z-Score	-2.04	-1.78	-2.02	-2.12	-0.33	-2.32	-2.65	-2.77	-3.11	-3.55	-3.75
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	14.53	15.22	14.19	15.06	12.90	15.76	30.33	14.97	34.45	39.53	39.87
Quick Ratio	13.62	14.24	13.55	14.44	11.71	14.35	14.34	6.63	13.98	15.72	15.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-7.77	34	22	42	-20	-15	-13	-4.50	2.80	9.41	-8.57
Operating Cash Flow to CapEx	-279.68%	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	-3.88	17.19	11.27	21.11	-9.84	-4.83	-11.55	-2.84	1.77	6.01	-5.52
Operating Cash Flow to Interest Expense	-7.20	-6.76	-7.27	-5.31	-10.03	-3.51	-3.82	-9.35	-6.67	-4.52	-0.86
Operating Cash Flow Less CapEx to Interest Expense	-9.78	-6.00	-7.27	-5.04	-10.03	-3.41	-3.45	-9.34	-6.67	-4.51	-0.86
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	132	132	126	124	135	138	117	112	122	122	121
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	-39	-43	-39	-52	3.20	6.24	-8.71	-12	-13	-16	3.67
Enterprise Value (EV)	-47	-44	-9.54	-3.73	397	94	86	117	122	83	66
Market Capitalization	56	50	70	67	438	125	113	137	121	75	56
Book Value per Share	$1.80	$1.74	$31.65	$29.98	$27.11	$25.96	$22.21	$20.07	$17.84	$16.79	$16.32
Tangible Book Value per Share	$1.80	$1.74	$31.65	$29.98	$27.11	$25.96	$22.21	$20.07	$17.84	$16.79	$16.32
Total Capital	315	307	288	277	259	254	229	216	205	199	196
Total Debt	81	81	82	82	82	84	84	84	85	85	85
Total Long-Term Debt	81	81	82	82	82	84	84	84	85	85	85
Net Debt	-102	-94	-80	-71	-41	-31	-28	-19	1.22	8.51	10
Capital Expenditures (CapEx)	5.16	-1.50	0.00	-0.54	-0.01	-0.32	-0.41	-0.01	-0.01	-0.01	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1.29	-1.66	-4.11	-3.97	1.94	1.43	107	102	111	110	109
Debt-free Net Working Capital (DFNWC)	182	150	150	145	122	117	212	194	191	187	184
Net Working Capital (NWC)	182	150	150	145	122	117	212	194	191	187	184
Net Nonoperating Expense (NNE)	21	3.81	7.53	5.02	6.48	3.62	6.81	4.99	3.07	1.50	-0.70
Net Nonoperating Obligations (NNO)	-102	-94	-80	-71	-41	-31	-28	-19	1.22	8.51	10
Total Depreciation and Amortization (D&A)	0.95	1.04	0.99	0.98	0.90	0.74	0.26	0.01	0.01	0.01	0.19
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	$0.00	($1.99)	($3.74)	($2.29)	($3.54)	($1.83)	($4.32)	($3.24)	($2.01)	($1.23)	($0.62)
Adjusted Weighted Average Basic Shares Outstanding	0.00	6.50M	6.50M	6.50M	6.51M	6.51M	6.53M	6.60M	6.76M	6.67M	6.78M
Adjusted Diluted Earnings per Share	$0.00	($1.99)	($3.74)	($2.29)	($3.54)	($1.83)	($4.32)	($3.24)	($2.01)	($1.23)	($0.62)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	6.50M	6.50M	6.50M	6.51M	6.51M	6.53M	6.60M	6.76M	6.67M	6.78M
Adjusted Basic & Diluted Earnings per Share	$0.00	($1.99)	$0.00	$0.00	$0.00	($1.83)	$0.00	$0.00	$0.00	($1.23)	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	6.50M	6.50M	6.50M	6.53M	6.53M	6.56M	6.75M	6.78M	6.78M	6.78M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-9.00	-14	-9.54	-15	-8.03	-10	-16	-11	-6.69	-5.35
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	-33.82	-6.64	-12.31	-7.42	-12.04	-4.33	-27.83	-14.60	-9.57	-6.13	-4.63
NOPAT to Interest Expense	-23.32	-4.60	-8.46	-4.95	-8.24	-2.75	-19.48	-10.37	-6.65	-4.27	-3.16
EBIT Less CapEx to Interest Expense	-36.40	-5.88	-12.31	-7.15	-12.04	-4.23	-27.47	-14.59	-9.57	-6.13	-4.63
NOPAT Less CapEx to Interest Expense	-25.89	-3.85	-8.46	-4.68	-8.24	-2.65	-19.12	-10.36	-6.64	-4.26	-3.16
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

Instil Bio Financials - Frequently Asked Questions

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

Instil Bio's net income appears to be on a downward trend, with a most recent value of -$71.37 million in 2025, rising from -$37.74 million in 2020. The previous period was -$74.14 million in 2024. Find out what analysts predict for Instil Bio in the coming months.

Instil Bio's total operating income in 2025 was -$78.58 million, based on the following breakdown:

Total Gross Profit: $0.00
Total Operating Expenses: $78.58 million

Over the last 5 years, Instil Bio's total revenue changed from $138 thousand in 2020 to $0.00 in 2025, a change of -100.0%.

Instil Bio's total liabilities were at $89.66 million at the end of 2025, a 4.8% decrease from 2024, and a 236.5% increase since 2020.

In the past 5 years, Instil Bio's cash and equivalents has ranged from $6.64 million in 2025 to $241.71 million in 2020, and is currently $6.64 million as of their latest financial filing in 2025.

Over the last 5 years, Instil Bio's book value per share changed from -2.48 in 2020 to 16.79 in 2025, a change of -778.3%.

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Financial statements for NASDAQ:TIL last updated on 7/16/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Instil Bio (TIL) Financials

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Instil Bio Financials - Frequently Asked Questions

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Instil Bio (TIL) Financials

Annual Income Statements for Instil Bio

Quarterly Income Statements for Instil Bio

Annual Cash Flow Statements for Instil Bio

Quarterly Cash Flow Statements for Instil Bio

Annual Balance Sheets for Instil Bio

Quarterly Balance Sheets for Instil Bio

Annual Metrics And Ratios for Instil Bio

Quarterly Metrics And Ratios for Instil Bio

Financials Breakdown Chart

Instil Bio Financials - Frequently Asked Questions

When does Instil Bio's fiscal year end?

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

What is Instil Bio's operating income?

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

How much debt does Instil Bio have?

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

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