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Saturday 7 November 2026
Export ANNX’s income statement to Excel — free account
Annexon, Inc.
ANNX Healthcare Biotechnology
- EPS
- +17.7%
- Free cash flow
- −26.4%
Quarter to June 2026, against a year earlier
4.21
0.20
+4.99%
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Target Price Range
Analyst price targets
Free accountTen years at a glance
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | — | — | — | — | — | — | 35 | 35 | 266 | +174.3% | |
| Gross margin, % | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | 0.00 | 0.0 pt | ||||||
| EBT | — | (19) | (18) | (37) | (63) | (130) | (142) | (134) | (138) | (207) | (203) | +35.0% | ||||||
| EBT margin, % | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| Net income | — | 0 | (18) | (37) | (63) | (130) | (142) | (134) | (138) | (207) | (203) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | n/m | |||||
| Earnings | — | (0.49) | (45.45) | (85.78) | (4.15) | (3.40) | (2.60) | (1.77) | (1.01) | (1.34) | (1.16) | +13.4% | ||||||
| Cash flow | — | (0.50) | (42.69) | (65.42) | (3.13) | (2.77) | (2.13) | (1.60) | (0.86) | (1.20) | (0.96) | +11.5% | ||||||
| Capex | — | 0.00 | (0.04) | (0.62) | (0.03) | (0.04) | (0.12) | 0.00 | 0.00 | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | (0.50) | (42.73) | (66.03) | (3.16) | (2.81) | (2.25) | (1.60) | (0.86) | (1.20) | (0.96) | +11.5% | ||||||
| Book value | — | (1.21) | (159.43) | (231.73) | 20.30 | 6.05 | 4.23 | 3.31 | 2.13 | 1.36 | 0.93 | n/m | ||||||
| Shares, m | — | 38 | 0 | 0 | 17 | 38 | 55 | 76 | 137 | 155 | 175 | +19.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | — | — | — | — | 0 | — | |||||
| P/S | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| P/B | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/Sales | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| EV/FCF | — | — | — | — | — | — | — | — | — | — | 0 | — | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | (19) | (17) | (28) | (53) | (106) | (116) | (121) | (118) | (186) | (193) | +32.8% | |||||
| Capex | — | (1) | 0 | 0 | 0 | (2) | (7) | 0 | 0 | 0 | 0 | (16.3%) | ||||||
| Free cash flow | — | (19) | (17) | (29) | (54) | (108) | (123) | (121) | (118) | (186) | (193) | +32.8% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | 2 | 42 | 40 | 343 | 226 | 226 | 246 | 286 | 200 | 174 | +78.0% | |||||
| Net debt | — | 46 | (44) | (44) | (351) | (243) | (243) | (260) | (312) | (238) | (209) | n/m | ||||||
| Shareholders’ equity | — | (46) | (64) | (100) | 344 | 232 | 231 | 251 | 293 | 212 | 186 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | (67.16) | (76.76) | (78.08) | (34.66) | (40.54) | (49.62) | (46.07) | (42.67) | (66.45) | (79.38) | +0.7 pt | |||||
| ROIC | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | 34.04 | 33.47 | 46.49 | (57.69) | (45.24) | (61.30) | (55.73) | (50.84) | (82.63) | (105.26) | (116.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 30 | 48 | 61 | 80 | 71 | 100 | 96 | — | +21.4% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Annexon, 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 |
|---|---|---|---|---|---|---|---|---|---|
| CRVS Corvus Pharmaceuticals, Inc. | $818.5M | — (loss-making) | — | — | n/m | −171.31% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| MGTX MeiraGTx Holdings PLC | $817.3M | 11.8× | 30.3× | +8,608.59% (above 0%: growing) | n/m | +13.06% (above 0%: growing) | 97.77% | 76.04% | Compare |
| PRME Prime Medicine, Inc. | $807.1M | — (loss-making) | — (loss-making) | +3.50% (above 0%: growing) | n/m | +4.40% (above 0%: growing) | 100.00% | (3,750.87%) | Compare |
| ALMS Alumis Inc. | $780.9M | — (loss-making) | — (loss-making) | −37.66% (below 0%: shrinking) | n/m | +23.59% (above 0%: growing) | 100.00% | (8,956.38%) | Compare |
| ANNX Annexon, Inc. | $759.3M | — (loss-making) | — | — | n/m | −26.41% (below 0%: shrinking) | 0.00% | 0.00% | |
| ARDX Ardelyx, Inc. | $751.6M | — (loss-making) | — (loss-making) | +15.70% (above 0%: growing) | n/m | +938.76% (above 0%: growing) | 96.44% | 3.15% | Compare |
| LXRX Lexicon Pharmaceuticals, Inc. | $716.4M | — (loss-making) | — (loss-making) | −20.67% (below 0%: shrinking) | n/m | +66.10% (above 0%: growing) | 99.30% | (128.84%) | Compare |
| OABI OmniAb, Inc. | $704.5M | — (loss-making) | — (loss-making) | +78.34% (above 0%: growing) | n/m | +206.33% (above 0%: growing) | 92.26% | (409.92%) | Compare |
| SANA Sana Biotechnology, Inc. | $700.5M | — (loss-making) | — | — | n/m | −5.46% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $766.3M | — | — | +9.60% | — | +18.33% | 97.11% | (64.42%) |
Pay and ownership Proxy statement filed 27 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 3.58m | 5.08m | 20.06 |
| 2024 | 3.67m | 4.37m | 20.50 |
| 2023 | 2.45m | 1.20m | 18.14 |
Ownership
Directors and executive officers, together
10.31%
Redmile Group, LLC
9.99%
Trusts and other entities affiliated with Muneer A. Satter
6.40%
FMR LLC
6.29%
Muneer A. Satter
6.05%
BVF Partners L.P.
5.49%
BlackRock, Inc.
5.46%
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