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Armata Pharmaceuticals, Inc.

ARMP Healthcare Biotechnology

Armata Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.9 million, down 5.22% from fiscal 2024. In the quarter to June 2026, revenue grew 15.7%, EPS grew 548.9%, free cash flow fell 18.0% and total debt rose 152.4%, each against the same quarter a year earlier.

3.37 0.28 +9.06%
Market cap
$114.9M
P/E
0.0×
Fwd P/E
−2.0×
Dividend yield
—
F-score
3/9
Altman Z
−10.15
Beneish M
−12.48
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 68.49%

Capital & Financial Ratios $m

Market Cap 114.90
Revenue 5.54
Net Income (192.18)
Free Cash Flow (25.79)
Net Debt 259.56
Current Ratio 0.11 (below 1: weak)
Debt/Equity (1.23) (negative: negative equity)
P/E ratio 0.00
Fwd P/E (1.97) (negative: loss-making)
P/S ratio 22.01 (above 10: high)
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 61.15% (at or above 15%: strong)
Next Y EPS Growth 22.52% (at or above 15%: strong)
Next Y revenue growth (13.34%) (below 0%: weak)
Next 5Y EPS Growth 38.99% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 68.8×, against a ten-year median of 35.6×; over the ten years it ranged from −44.3× in 2017 to 554× in 2020.
P/S against its own 10 years 28.27%
10-year low 10-year high
EV/Sales against its own 10 years 65.86%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2019 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 14 9 9 24
Receivables 3 1 0 3
Inventory — — — —
Other — — — —
19 11 11 27
2023 2024 2025 Q'26
Payables 6 2 2 2
ST’ Debt — 39 — 241
Other 1 1 0 0
16 48 9 250

Compound Annual Growth %

10y 5y 3y
Sales — 42.90% (3.80%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Revenue $m

Mar Jun Sep Dec Year
’26 1 3 — — —
’25 0 2 1 1 5
’24 1 — 3 1 5
’23 1 1 1 2 5
’22 1 2 1 1 6
’21 1 1 1 1 4
’20 — 0 0 1 1
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (9) — — —
’25 (8) (7) (4) (7) (26)
’24 (11) (10) (9) (8) (38)
’23 (18) (12) (10) (8) (47)
’22 (4) (8) (10) (10) (32)
’21 (5) (5) (5) (9) (24)
’20 (4) (4) (4) (6) (18)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (6) (9) — — —
’25 (8) (7) (5) (7) (26)
’24 (11) (12) (9) (8) (39)
’23 (20) (12) (13) (10) (56)
’22 (4) (9) (12) (10) (35)
’21 (6) (5) (6) (9) (25)
’20 (4) (4) (4) (7) (19)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (3.16) 1.20 — — —
’25 (0.11) (0.45) (0.74) (3.43) (4.80)
’24 (0.69) 0.15 (0.15) (0.23) (0.32)
’23 (0.40) (0.06) (0.86) (0.55) (1.91)
’22 (0.30) (0.26) (0.24) (0.29) (1.08)
’21 (0.27) (0.25) (0.22) (0.23) (0.96)
’20 (0.49) (0.26) (0.31) (0.36) (1.35)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 50.40 9.38 2.10 2.45 2.52 2.82 0.83 1.07 1.80 0.90

Analyst estimates 2026–2028

Powerpack
High 768.60 95.20 28.70 6.30 6.92 10.48 6.46 5.26 4.48 16.34
People
People Employees 33 34 31 38 62 71 75 66 60 61
Revenue/emp, $m 0.01 0.00 0.00 0.00 0.01 0.06 0.07 0.07 0.09 0.08
Income, $m
Income, $m Revenue 0 0 — — 1 4 6 5 5 5
Gross margin, % 100.00 100.00 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT (19) (14) (17) (19) (22) (23) (37) (69) (19) (174)
EBT margin, % (7,459.23) (12,295.65) 0.00 0.00 (2,695.14) (517.55) (670.24) (1,524.51) (365.60) (3,544.03)
Net income (19) (13) (17) (19) (22) (23) (37) (69) (19) (174)
Depreciation 0 0 1 1 1 1 1 1 1 2
Per share, $
Per share, $ Revenue 3.70 0.25 0.00 0.00 0.05 0.19 0.16 0.13 0.14 0.14
Earnings (345.94) (28.15) (3.59) (2.49) (1.35) (0.96) (1.08) (1.91) (0.52) (4.80)
Cash flow (150.87) (20.16) (2.28) (1.99) (1.11) (0.98) (0.95) (1.31) (1.04) (0.71)
Capex (3.97) (0.13) (0.17) (0.02) (0.05) (0.05) (0.06) (0.23) (0.05) (0.01)
Free cash flow (154.84) (20.29) (2.46) (2.01) (1.16) (1.03) (1.01) (1.54) (1.09) (0.73)
Book value 138.31 16.95 1.65 1.86 1.15 1.05 1.05 (0.89) (1.33) (6.03)
Shares, m 0 0 5 8 16 24 34 36 36 36
Valuation, ×
Valuation, × P/E 0.00 0.00 — — 0.00 0.00 0.00 0.00 0.00 0.00
P/S 18.55 56.07 — — 58.03 29.52 6.85 24.69 9.98 46.41
P/B 0.50 0.83 — — 2.59 5.20 1.05 0.00 0.00 0.00
EV/Sales (3.42) 11.44 — — 62.18 35.72 13.02 42.85 22.68 123.75
EV/FCF 0.08 (0.14) — — (2.75) (6.42) (2.07) (3.49) (3.85) (23.07)
Cash, $m
Cash, $m Operating cash flow (11) (9) (11) (16) (18) (24) (32) (47) (38) (26)
Capex 0 0 (1) 0 (1) (1) (2) (8) (2) (1)
Free cash flow (11) (9) (11) (16) (19) (25) (35) (56) (39) (26)
Balance, $m
Balance, $m Working capital 3 3 8 2 4 10 2 3 (37) 2
Total debt 1 — — 3 13 38 49 82 94 257
Net debt (5) (5) (10) (3) 4 28 34 69 85 248
Shareholders’ equity 10 8 8 15 19 25 36 (32) (48) (219)
Returns, %
Returns, % ROA (97.80) (87.66) (130.06) (97.40) (68.28) (42.38) (44.59) (71.11) (20.47) (212.83)
ROIC (303.45) (388.51) 0.00 (108.07) (60.34) (28.04) (32.97) (69.60) (71.53) (77.26)
ROE (216.39) (147.11) (216.56) (174.80) (132.62) (104.65) (120.10) (3,439.35) 47.24 130.37
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Armata Pharmaceuticals, 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
NRXP NRx Pharmaceuticals, Inc. $117.3M — (loss-making) — (loss-making) — n/m −142.60% (below 0%: shrinking) 38.69% (590.83%) Compare
HURA TuHURA Biosciences, Inc. $116.6M — (loss-making) — — n/m −70.46% (below 0%: shrinking) 0.00% 0.00% Compare
NERV Minerva Neurosciences, Inc $115.6M — (loss-making) — (loss-making) — n/m −553.48% (below 0%: shrinking) 0.00% 0.00% Compare
ARMP Armata Pharmaceuticals, Inc. $114.9M — (loss-making) — (loss-making) +15.72% (above 0%: growing) n/m −17.98% (below 0%: shrinking) 100.00% (410.84%)
ENGN enGene Therapeutics Inc $114.6M — (loss-making) — — n/m +28.07% (above 0%: growing) — 0.00% Compare
SEER Seer, Inc. $113.0M — (loss-making) — (loss-making) −23.43% (below 0%: shrinking) n/m +36.73% (above 0%: growing) 48.55% (542.91%) Compare
FHTX Foghorn Therapeutics Inc. $112.2M — (loss-making) — (loss-making) +112.68% (above 0%: growing) n/m +14.88% (above 0%: growing) 100.00% (54.78%) Compare
GNLX Genelux Corporation $112.2M — (loss-making) — (loss-making) — n/m −11.18% (below 0%: shrinking) 100.00% 0.00% Compare
LENZ LENZ Therapeutics, Inc. $112.2M — (loss-making) — (loss-making) +9.72% (above 0%: growing) n/m −229.66% (below 0%: shrinking) 94.90% (622.89%) Compare
Median of peers $113.8M — — +9.72% — −40.82% 48.55% (27.39%)

All 614 Biotechnology stocks →

Armata Pharmaceuticals, Inc. (ARMP) key facts

  • Concern: Armata Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $4.9 million, down 5.22% from fiscal 2024.
  • Armata Pharmaceuticals, Inc. (ARMP) is a Biotechnology company in the Healthcare sector, listed on NYSE American.
  • As of October 16, 2026, ARMP traded at $3.37, a market capitalization of $114.9 million.
  • Return on equity was 130.4% and debt-to-equity -1.23.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −10.15 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Armata Pharmaceuticals, Inc. (ARMP) Latest News

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stockrow.com/ARMP · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com