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AnaptysBio, Inc.

ANAB Healthcare Biotechnology

AnaptysBio, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $234.6 million, up 157.0% from fiscal 2024.

Revenue
−7.98%
EPS
−43.8%
Free cash flow
−141.6%

Quarter to March 2026, against a year earlier

46.43 0.85 +1.86%
Market cap
$1.4B
P/E
0.0×
Fwd P/E
220×
Dividend yield
—
F-score
5/9
Altman Z
0.84
Beneish M
−2.34
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Sold, $m 9.75
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 6 13 1 2 — — — — — — 1 —
Insider Ownership 2.69%

Capital & Financial Ratios $m

Size
Market Cap 1,360.00
Revenue ttm 232.39
Net income ttm (26.79)
Free cash flow ttm 4.41
Net debt Q (286.45)
Valuation
P/E 0.00
Forward P/E 220.00 (above 35: high)
Price / sales 5.73
Forward P/S Powerpack
Price / FCF 302.14
Price / book 104.50 (above 6: high)
Financial health
Current ratio Q 7.58 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (7.77)
Growth
Revenue growth Q −7.98% (below 0%: shrinking)
Operating income growth Q −25.77% (below 0%: shrinking)
EPS, this year −643.59% (below 0%: weak)
EPS, next year A +225.44% (at or above 15%: strong)
Revenue, next year A −54.95% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A −3.89% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.5×, against a ten-year median of 2.5×; over the ten years it ranged from −10.8× in 2023 to 86.0× in 2018.
P/S against its own 10 years 25.12%
10-year low 10-year high
P/B against its own 10 years 94.10%
10-year low 10-year high
EV/Sales against its own 10 years 46.68%
10-year low 10-year high
EV/FCF against its own 10 years 86.43%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 391 385 312 286
Receivables 7 41 34 26
Inventory — — — —
Other — — — —
407 432 350 316
2023 2024 2025 Q'26
Payables 5 4 4 8
ST’ Debt — — — —
Other — — — —
37 45 39 42

Compound Annual Growth %

10y 5y 3y
Sales 29.58% 25.62% 183.58%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (1.28%) (37.71%) (47.83%)

Earnings Trends EPS, adjusted, against the consensus

Q4 FY26 Estimate −0.46 Actual −0.11

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY25 −1.06 0.52 Beat by 1.58
Q4 FY25 0.89 1.58 Beat by 0.69
Q1 FY26 −0.32 −1.84 Miss by 1.52
Q4 FY26 −0.46 −0.11 Beat by 0.35
Q1 FY27 0.41 — Reports 10 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (1.84) — — — —
’25 (1.28) (1.34) 0.52 1.58 (0.46)
’24 (1.64) (1.71) (1.14) (0.72) (5.12)
’23 (1.58) (1.50) (1.41) (1.59) (6.08)
’22 (1.31) (1.15) (1.18) (0.93) (4.57)
’21 (0.66) (0.02) (0.24) (1.18) (2.11)
’20 (0.30) (0.79) (0.87) 1.20 (0.73)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 26 — — — —
’25 28 22 76 108 235
’24 7 11 30 43 91
’23 1 3 3 9 17
’22 1 1 1 7 10
’21 11 30 21 1 63
’20 15 — — 60 75
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (26) — — — —
’25 (11) (40) (27) 98 20
’24 (37) (21) (10) (67) (135)
’23 (25) (25) (36) (34) (121)
’22 (21) (24) (18) (11) (74)
’21 (23) 10 (7) (25) (46)
’20 (15) (20) (17) 38 (14)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (26) — — — —
’25 (11) (40) (27) 98 20
’24 (37) (21) (10) (67) (136)
’23 (25) (26) (37) (35) (122)
’22 (21) (24) (18) (11) (74)
’21 (24) 9 (7) (25) (47)
’20 (15) (20) (17) 37 (15)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Mar ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 17 10 5 8 75 63 10 17 91 235 232 +34.1% — 171 283 +6.5%
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT (4) (30) (62) (97) (20) (58) (129) (164) (145) (13) (27) +13.3%
EBT margin, % (25.53) (300.70) (1,236.96) (1,218.60) (26.57) (91.49) (1,251.09) (953.68) (159.10) (5.57) (11.46) +20.0 pt
Net income (4) (30) (62) (97) (20) (58) (129) (164) (145) (13) (27) +13.4%
Per share, $
Per share, $ Revenue 6.33 0.51 0.20 0.30 2.75 2.30 0.37 0.64 3.22 8.16 8.10 +2.9%
Earnings (1.62) (1.52) (2.50) (3.60) (0.73) (2.11) (4.57) (6.08) (5.12) (0.46) (0.85) (13.0%)
Cash flow (3.42) (0.98) (1.97) (2.57) (0.52) (1.67) (2.61) (4.49) (4.77) 0.68 0.16 n/m
Capex (0.02) (0.01) (0.04) (0.03) (0.02) (0.05) (0.01) (0.03) (0.01) 0.00 0.00 (18.5%)
Free cash flow (3.44) (1.00) (2.01) (2.60) (0.54) (1.72) (2.63) (4.52) (4.78) 0.68 0.15 n/m
Book value 14.89 15.55 19.71 14.97 14.53 12.99 9.31 3.27 2.50 1.29 0.44 (23.8%)
Shares, m 3 20 25 27 27 27 28 27 28 29 29 +30.4%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 1.79 82.78 58.90 18.26 4.70 10.03 53.20 22.64 2.74 3.95 5.73 25.9
P/B 0.00 4.30 2.15 0.72 0.98 1.78 2.09 4.41 3.52 24.91 104.50 4.5
EV/Sales (0.46) 67.70 35.00 (4.97) (0.01) 1.39 10.54 0.00 (1.46) 2.63 4.51 11.0
EV/FCF 0.84 (54.83) (12.54) 1.13 0.07 (1.86) (1.47) 0.00 0.98 31.50 237.71 (3.6)
Cash, $m
Cash, $m Operating cash flow (9) (19) (49) (70) (14) (46) (74) (121) (135) 20 4 n/m
Capex 0 0 (1) (1) (1) (1) 0 (1) 0 0 0 +6.3%
Free cash flow (9) (20) (50) (70) (15) (47) (74) (122) (136) 20 4 n/m
Balance, $m
Balance, $m Working capital 53 239 412 348 377 538 421 369 386 312 274 +21.9%
Net debt (37) (241) (427) (374) (394) (548) (441) (391) (385) (312) (286) +26.6%
Shareholders’ equity 39 308 486 405 397 356 262 88 71 37 13 (0.6%)
Returns, %
Returns, % ROA (7.19) (15.36) (14.71) (20.62) (4.68) (10.91) (20.54) (30.79) (31.02) (3.12) (7.13) +4.1 pt
ROIC (102.47) (26.96) (70.34) (218.14) (484.87) 0.00 0.00 0.00 0.00 0.00 0.00 +102.5 pt
ROE 11.60 (22.33) (15.53) (21.84) (4.97) (15.35) (41.62) (93.44) (182.71) (24.49) (114.55) (36.1) pt
People
People Employees 49 60 78 89 94 102 96 117 136 104 — +8.7%
Revenue/emp, $m 0.34 0.17 0.06 0.09 0.80 0.62 0.11 0.15 0.67 2.26 — +23.4%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Mar 2026

AnaptysBio, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
AAPG Ascentage Pharma Group International - Unsponsored ADR $1.4B — — — — +17.74% (above 0%: growing) — — Compare
OCUL Ocular Therapeutix, Inc. $1.4B — (loss-making) — (loss-making) +0.12% (above 0%: growing) n/m −25.35% (below 0%: shrinking) 85.08% (609.34%) Compare
KRSA Korsana Biosciences, Inc. $1.4B — (loss-making) — (loss-making) −43.24% (below 0%: shrinking) n/m −184.69% (below 0%: shrinking) 100.00% 0.00% Compare
ANAB AnaptysBio, Inc. $1.4B — (loss-making) 220× −7.98% (below 0%: shrinking) n/m −141.60% (below 0%: shrinking) 100.00% (135.53%)
GPCR Structure Therapeutics Inc. Sponsored ADR $1.4B — (loss-making) — — n/m −119.15% (below 0%: shrinking) 0.00% 0.00% Compare
DMRA Galecto, Inc. $1.4B 24.7× — — n/m −877.51% (below 0%: shrinking) 0.00% 0.00% Compare
MLYS Mineralys Therapeutics, Inc. $1.4B — (loss-making) — — n/m −7.91% (below 0%: shrinking) — 0.00% Compare
TSHA Taysha Gene Therapies, Inc. $1.3B — (loss-making) — (loss-making) +206.77% (above 0%: growing) n/m −100.28% (below 0%: shrinking) 100.00% 0.00% Compare
KARD KARDIGAN INC $1.3B — (loss-making) — — n/m — — 0.00% Compare
Median of peers $1.4B — — +0.12% — −100.28% 85.08% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 29 June 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 6.13m 41.74m 156.00
2024 13.63m 9.16m 43.00
2023 7.46m (1.74m) 69.00

Ownership

Directors and executive officers, together 31.50%
Oleg Nodelman 26.90%
EcoR1 Capital LLC 26.90%
Sirenia Capital Management LP 6.60%
BlackRock, Inc. 6.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

AnaptysBio, Inc. (ANAB) Latest News

31 Oct

Impact 3 · · Insider Monkey

30 Oct

Impact 3 · · Simply Wall St.

28 Oct

Impact 3 · · Zacks

27 Oct

Impact 3 · · Zacks

19 Oct

Impact 4 · · GlobeNewswire

9 Oct

Impact 4 · · Simply Wall St.

26 Sep

Impact 3 · · Simply Wall St.

25 Sep

Impact 3 · · Insider Monkey

21 Sep

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

17 Aug

Impact 5 ·

14 Jul

Impact 3 ·

12 May

Impact 3 · · GlobeNewswire

11 May

Impact 4 · · Zacks
Impact 3 · · GlobeNewswire

10 May

Impact 4 · · Simply Wall St.

3 May

Impact 4 · · Simply Wall St.

28 Apr

Impact 4 · · PR Newswire

27 Apr

Impact 3 · · Zacks
Impact 3 · · Proactive Investors

24 Apr

Impact 4 · · GlobeNewswire

20 Apr

Impact 4 ·

5 Apr

Impact 4 · · Simply Wall St.

27 Mar

Impact 4 · · MT Newswires
Impact 4 · · GlobeNewswire
Impact 4 · · GlobeNewswire
Impact 4 · · GlobeNewswire

11 Mar

Impact 4 · · MarketBeat
Impact 4 · · MarketBeat

6 Mar

Impact 4 · · Simply Wall St.
stockrow.com/ANAB · Data as of Mar 31, 2026 · For information only; not investment advice. · © 2026 stockrow.com