stockrow
Friday 6 November 2026
Export AXSM’s income statement to Excel — free account
Axsome Therapeutics, Inc.
AXSM Healthcare Biotechnology
Axsome Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $638.5 million, up 65.5% from fiscal 2024.
- Revenue
- +51.9%
- EPS
- +73.9%
- Free cash flow
- −1,078.3%
- Total debt
- +4.04%
Quarter to September 2026, against a year earlier
132.66
2.86
+2.20%
Follow AXSM
Alert me
Target Price Range
Analyst price targets
Free accountTen 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 Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 50 | 271 | 386 | 638 | 865 | +133.7% | 950 | 1,513 | 2,130 | +49.4% | |
| Gross margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 89.61 | 90.37 | 91.37 | 92.56 | 93.25 | +92.6 pt | ||||||
| EBT | (27) | (29) | (31) | (68) | (103) | (130) | (187) | (238) | (287) | (184) | (157) | +23.6% | ||||||
| EBT margin, % | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (373.99) | (88.06) | (74.45) | (28.77) | (18.10) | (28.8) pt | ||||||
| Net income | (27) | (29) | (31) | (68) | (103) | (130) | (187) | (239) | (287) | (183) | (157) | +23.6% | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1.23 | 5.96 | 8.05 | 12.83 | 16.50 | n/m | |||||
| Earnings | (1.42) | (1.27) | (1.15) | (2.01) | (2.77) | (3.47) | (4.60) | (5.27) | (5.99) | (3.68) | (3.06) | +11.2% | ||||||
| Cash flow | (1.11) | (1.16) | (1.12) | (1.36) | (2.11) | (2.88) | (2.87) | (3.19) | (2.68) | (1.88) | (1.56) | +6.0% | ||||||
| Capex | (0.01) | 0.00 | 0.00 | 0.00 | 0.00 | (0.01) | (0.02) | (0.01) | (0.01) | (0.01) | (0.02) | +6.4% | ||||||
| Free cash flow | (1.12) | (1.16) | (1.12) | (1.36) | (2.11) | (2.89) | (2.88) | (3.21) | (2.69) | (1.89) | (1.58) | +6.0% | ||||||
| Book value | 1.13 | 0.73 | 0.03 | 5.25 | 3.06 | 0.42 | 2.69 | 4.20 | 1.19 | 1.77 | 2.01 | +5.2% | ||||||
| Shares, m | 19 | 23 | 27 | 34 | 37 | 38 | 41 | 45 | 48 | 50 | 51 | +11.2% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 12.94 | 10.51 | 14.23 | 7.83 | 9.4 | ||||||
| P/B | — | — | — | — | — | — | 27.21 | 18.33 | 71.10 | 102.90 | 64.25 | 54.9 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 12.17 | 10.17 | 13.92 | 7.61 | 9.1 | ||||||
| EV/FCF | — | — | — | — | — | — | (24.53) | (22.61) | (30.49) | (94.64) | (79.74) | (43.1) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (21) | (26) | (30) | (46) | (78) | (108) | (117) | (145) | (128) | (93) | (82) | +17.9% | |||||
| Capex | 0 | 0 | 0 | 0 | 0 | 0 | (1) | (1) | 0 | 0 | (1) | +18.4% | ||||||
| Free cash flow | (21) | (26) | (30) | (46) | (79) | (109) | (117) | (146) | (129) | (94) | (83) | +17.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 31 | 23 | 4 | 196 | 161 | 63 | 149 | 365 | 255 | 210 | 215 | +23.8% | |||||
| Net debt | (27) | (27) | (10) | (203) | (136) | (37) | (107) | (208) | (132) | (201) | (187) | +24.9% | ||||||
| Shareholders’ equity | 22 | 17 | 1 | 179 | 114 | 16 | 110 | 191 | 57 | 88 | 105 | +17.0% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (62.33) | (78.47) | (121.59) | (57.94) | (50.60) | (95.21) | (89.27) | (52.02) | (49.66) | (29.11) | (21.03) | +33.2 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (3,779.83) | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | (79.99) | (151.19) | (350.78) | (76.08) | (70.36) | (201.51) | (298.97) | (159.21) | (231.63) | (252.11) | (175.59) | (172.1) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 22 | 25 | 29 | 45 | 60 | 108 | 383 | 545 | 683 | 925 | — | +51.5% | |||||
| Revenue/emp, $m | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.13 | 0.50 | 0.56 | 0.69 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Business profile
Axsome Therapeutics, 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 |
|---|---|---|---|---|---|---|---|---|---|
| ABVX Abivax SA Sponsored ADR | $7.4B | — (loss-making) | — | — | n/m | −48.28% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| PRAX Praxis Precision Medicines, Inc. | $7.3B | — (loss-making) | — (loss-making) | +1,349.13% (above 0%: growing) | n/m | −43.54% (below 0%: shrinking) | 100.00% | 0.00% | Compare |
| RYTM Rhythm Pharmaceuticals, Inc. | $7.3B | — (loss-making) | — (loss-making) | +79.59% (above 0%: growing) | n/m | +95.40% (above 0%: growing) | 86.79% | (42.63%) | Compare |
| AXSM Axsome Therapeutics, Inc. | $6.8B | — (loss-making) | — (loss-making) | +51.87% (above 0%: growing) | n/m | −1,078.34% (below 0%: shrinking) | 93.14% | (4.26%) | |
| IONS Ionis Pharmaceuticals, Inc. | $6.5B | — (loss-making) | — (loss-making) | −40.73% (below 0%: shrinking) | n/m | +299.29% (above 0%: growing) | 98.98% | (38.18%) | Compare |
| ORKA Oruka Therapeutics, Inc. | $6.4B | — (loss-making) | — | — | n/m | −43.00% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| MIRM Mirum Pharmaceuticals, Inc. | $6.1B | — (loss-making) | — (loss-making) | +39.63% (above 0%: growing) | n/m | −114.22% (below 0%: shrinking) | 81.06% | (32.17%) | Compare |
| LGND Ligand Pharmaceuticals Incorporated | $6.0B | 116× | 88.3× | −31.80% (below 0%: shrinking) | n/m | −268.45% (below 0%: shrinking) | 96.63% | (20.01%) | Compare |
| BLTE Belite Bio, Inc. Sponsored ADR | $5.8B | — (loss-making) | — | — | n/m | +64.67% (above 0%: growing) | — | 0.00% | Compare |
| Median of peers | $6.4B | — | — | +39.63% | — | −43.27% | 86.79% | (10.00%) |
From the latest earnings call
- Ari Maizel said Auvelity’s sales-force expansion helped drive new-to-brand prescription growth, with most of the quarter’s growth coming from depression treatment.
- Nick Pizzie said Symbravo’s quarterly net sales fell sequentially partly because of a prior-period adjustment and patient-service program use, while underlying demand grew.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
73.88%
Held by the ten largest
30.01%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 4.30m | 8.22% | −55.81k |
| BlackRock | 3.10m | 5.93% | −809.14k |
| Invesco | 1.67m | 3.20% | +374.01k |
| Fidelity (FMR) | 1.54m | 2.94% | −27.83k |
| Geode Capital Management | 967.17k | 1.85% | −195.81k |
| Franklin Templeton | 913.95k | 1.75% | +430.44k |
| Assenagon Asset Management S.A. | 909.36k | 1.74% | +43.41k |
| Morgan Stanley | 804.08k | 1.54% | +327.38k |
| State Street | 785.66k | 1.50% | −201.15k |
| Deep Track Capital, LP | 700.00k | 1.34% | −400.00k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 24 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 10.28m | 33.80m | 224.18 |
| 2024 | 10.36m | 10.06m | 103.85 |
| 2023 | 9.90m | 9.64m | 97.69 |
| 2022 | 8.32m | 28.01m | 94.67 |
| 2021 | 8.05m | (11.12m) | 46.37 |
Ownership
Directors and executive officers, together
20.60%
Herriot Tabuteau, M.D.
16.40%
Antecip Capital LLC
13.40%
The Vanguard Group, Inc. (subsidiaries/business divisions)
6.80%
BlackRock, Inc.
5.90%
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
Axsome Therapeutics, Inc. (AXSM) Latest News
2 Nov
19 Sep
AXSM metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Altman Z-score
- Beneish M-score
Axsome Therapeutics is a biopharmaceutical company that develops and sells medicines for central nervous system conditions. Its medicines are intended for patients with psychiatric and neurological disorders, and its development programs seek treatments for additional conditions.
Its commercial portfolio includes AUVELITY for major depressive disorder in adults and agitation associated with Alzheimer’s disease; SUNOSI for excessive daytime sleepiness associated with obstructive sleep apnea or narcolepsy; and SYMBRAVO for the acute treatment of migraine in adults, with or without aura. Axsome launched AUVELITY for Alzheimer’s disease agitation in 2026.