Agenus Inc.

AGEN Healthcare Biotechnology

Agenus Inc.’s revenue for fiscal 2025 (year ended December 2025) was $114.2 million, up 10.4% from fiscal 2024. In the quarter to June 2026, revenue grew 34.4%, EPS grew 98.6%, free cash flow fell 55.3% and total debt fell 11.2%, each against the same quarter a year earlier.

6.04 0.64 −9.58%
Market cap
$301.7M
P/E
2.3×
Fwd P/E
4.1×
Dividend yield
—
F-score
4/9
Altman Z
−14.16
Beneish M
12.57
Dividend safety
n/a
Dec '16 Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
2 2 2 4 2 7 2 3 2 4
P/E ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score
(8.73) (11.52) (14.25) (11.54) (10.29) (2.17) (6.06) (10.06) (15.67) (14.16)
P/S ratio
15.75 7.97 7.03 3.59 6.11 2.45 6.77 1.83 0.57 0.82
Altman Z″-Score (non-manufacturers)
(21.50) (28.78) (34.50) (32.14) (26.96) (7.47) (16.13) (27.06) (40.73) (38.05)
P/FCF ratio
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Beneish M-Score
(3.89) (3.44) (3.59) 0.44 (4.63) (1.17) 0.09 1.93 (5.29) 12.57
P/Operating CF
(22.06) (13.22) (7.22) (16.96) (15.12) (31.55) (14.02) (7.09) (2.05) (5.62)
P/B ratio
0.00 0.00 0.00 0.00 0.00 15.10 0.00 0.00 0.00 0.00
Price to Tangible BV
0.00 0.00 0.00 0.00 0.00 49.73 0.00 0.00 0.00 0.00
EV/Sales
18.15 10.37 5.95 3.27 5.20 1.45 4.93 1.43 0.50 1.39
EV/EBITDA
0.00 0.00 0.00 0.00 0.00 13.22 0.00 0.00 0.00 0.00
EV/Operating CF
(5.12) (4.72) (1.67) (26.30) (3.29) 42.39 (2.76) (1.00) (0.33) (2.05)
EV/FCF
(4.43) (4.57) (1.63) (21.05) (3.21) (23.87) (2.34) (0.97) (0.32) (2.06)
Quick Ratio
2.15 1.09 0.79 0.64 0.78 1.97 1.04 0.40 0.18 0.03
Current Ratio
2.24 1.30 1.10 0.71 0.88 2.12 1.13 0.44 0.21 0.41
Net Debt/EBITDA
(0.53) (1.05) 0.34 0.75 0.73 (9.02) 1.04 0.43 0.07 (4.10)
Debt/Assets
83.25% 117.79% 9.79% 9.03% 9.19% 2.91% 3.18% 4.11% 14.66% 19.69%
Debt/Equity
(3.34) (2.15) (0.08) (0.06) (0.09) 0.28 (0.24) (0.09) (0.11) (0.16)
Asset Turnover
0.11 0.29 0.27 1.03 0.48 0.87 0.22 0.43 0.38 0.50
Operating CF/Net income
0.63 0.78 0.82 0.17 0.77 (0.42) 0.80 0.91 0.70 764.31
Capex/Depreciation
(2.53) (0.50) (0.57) (0.70) (0.48) (4.15) (4.47) (0.49) (0.04) 0.04
Interest Coverage
(6.21) (5.50) (4.90) (1.69) (1.92) 0.39 (2.90) (1.63) (1.02) (0.36)
ROE
(805.04%) 210.36% 127.73% 53.15% 81.80% 29.51% 6,300.19% 242.00% 100.01% 0.03%
ROA
(63.72%) (81.86%) (116.37%) (73.95%) (97.94%) (7.09%) (50.09%) (67.62%) (84.20%) (0.04%)
ROIC
(444.11%) (240.08%) 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Tangible Assets
(167.16%) (279.25%) (501.85%) 1,154.01% (1,694.48%) (10.27%) (140.14%) 2,445.07% 408.01% 0.06%
Average Days of Receivables
183.56 9.66 9.31 39.63 4.79 1.87 10.21 60.33 1.44 22.41
Research and Development Expense of Revenue
420.72% 270.83% 338.73% 112.19% 161.75% 60.41% 190.45% 150.06% 150.32% 69.48%
Selling, General and Administrative Expense of Revenue
146.75% 78.69% 101.51% 30.68% 67.16% 25.83% 82.64% 50.37% 69.47% 47.63%
Intangible Assets out of Total Assets
0.25 0.27 0.26 0.22 0.17 0.07 0.08 0.09 0.12 0.12
Share Based Compensation of Revenue
58.42% 28.99% 20.73% 6.59% 11.81% 6.62% 18.71% 14.63% 16.81% 12.06%
Graham Net Nets
(0.29) (0.41) (0.91) (0.56) (0.58) (0.12) (0.38) (1.22) (8.28) (3.98)
Graham Number
77.10 91.97 143.89 110.39 108.66 0.00 37.22 51.47 58.56 9.17
Earnings Yield
(36.01%) (35.12%) (62.51%) (19.78%) (34.29%) (4.43%) (33.54%) (88.75%) (389.78%) (12.74%)
Free Cash Flow Yield
(26.02%) (28.44%) (52.06%) (4.33%) (26.48%) (2.49%) (31.11%) (80.61%) (270.02%) (82.30%)
Revenue per Share
5.19 8.71 6.64 22.23 10.22 25.83 6.96 8.74 4.82 3.84
Operating CF per Share
(18.37) (19.15) (23.67) (2.77) (16.13) 0.89 (12.45) (12.53) (7.37) (2.60)
Capex per Share
(2.88) (0.61) (0.65) (0.69) (0.40) (2.46) (2.21) (0.37) (0.03) 0.01
Free Cash Flow per Share
(21.24) (19.76) (24.32) (3.46) (16.53) (1.57) (14.65) (12.90) (7.40) (2.58)
Cash per Share
17.56 12.23 9.58 9.16 11.58 26.81 13.73 4.25 1.88 0.10
Shareholders Equity per Share
(8.99) (15.41) (31.51) (34.28) (24.52) 4.19 (3.90) (8.29) (14.27) (9.34)
Interest Debt per Share
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
(8.99) (15.41) (31.51) (34.28) (24.52) 4.19 (3.90) (8.29) (14.27) (9.34)
Free Cash Flow
(92.48) (97.23) (134.69) (23.34) (142.56) (18.01) (206.44) (230.79) (158.87) (76.84)
Working Capital
50.46 17.12 6.75 (35.67) (16.10) 175.03 24.17 (143.48) (175.83) (190.05)
Capital Expenditures
(12.52) (3.00) (3.59) (4.66) (3.47) (28.16) (31.06) (6.59) (0.55) 0.35
Net Current Asset Value
(104.80) (140.66) (236.14) (300.14) (312.23) (86.07) (255.34) (349.88) (487.12) (371.22)
EV/EBIT
0.00 0.00 0.00 0.00 0.00 16.70 0.00 0.00 0.00 0.00
Capex to Sales
0.55 0.07 0.10 0.03 0.04 0.10 0.32 0.04 0.01 0.00
Price to Operating Income
0.00 0.00 0.00 0.00 0.00 28.10 0.00 0.00 0.00 0.00
Other line items
Depreciation/Fixed assets
0.19 0.23 0.25 0.25 0.27 0.11 0.05 0.10 0.11 0.65
Cash ROIC
(55.05%) (65.96%) 124.56% 15.01% 155.10% (4.89%) (136.16%) 388.82% 68.24% 33.38%
Accounts Receivable Turnover
2.13 6.87 35.50 17.42 10.11 221.06 46.03 10.94 7.89 30.79
Accounts Payable Turnover
0.00 0.00 0.00 0.00 0.15 0.15 0.30 0.06 0.01 0.01
Inventory Turnover
0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00
Average Days of Payables
0.00 0.00 0.00 0.00 2,643.88 3,206.74 1,413.96 7,209.19 46,165.74 29,638.21
Days of Inventory on Hand
0.00 0.00 0.00 — 0.00 0.00 0.00 0.00 0.00 0.00
Average Receivables
10.58 6.24 1.04 8.62 8.73 1.34 2.13 14.29 13.12 3.71
Average Payables
4.96 6.76 10.86 13.59 15.29 23.75 35.71 51.19 61.46 72.23
Average Inventory
0.09 0.08 0.07 — — — — — — —
Average Assets
199.61 147.69 137.40 145.87 184.92 340.24 439.76 363.73 270.09 226.53
Average Common Equity
15.80 (57.47) (125.18) (202.94) (221.42) (81.79) (3.50) (101.64) (227.40) (292.14)

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