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Carisma Therapeutics Inc.

CARM Healthcare Biotechnology

Carisma Therapeutics Inc.’s revenue for fiscal 2024 (year ended December 2024) was $19.6 million, up 31.6% from fiscal 2023.

Revenue
+392.0%
EPS
+445.2%
Free cash flow
+114.7%

Quarter to September 2025, against a year earlier

0.00 0.00 NaN
Market cap
$1.5M
P/E
0.0×
Fwd P/E
−0.1×
Dividend yield
—
F-score
4/9
Altman Z
−19.65
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 39.26%

Capital & Financial Ratios $m

Size
Market Cap 1.52
Revenue ttm 56.02
Net income ttm 8.04
Free cash flow ttm (21.73)
Net debt Q (2.78)
Valuation
P/E 0.00
Forward P/E (0.07) (negative: loss-making)
Price / sales 0.00
Forward P/S Powerpack
Price / FCF 0.00
Price / book 0.00
Financial health
Current ratio Q 0.86 (below 1: weak)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (23.74)
Growth
Revenue growth Q +392.01% (above 0%: growing)
Operating income growth Q +433.34% (above 0%: growing)
EPS, this year +52.74% (at or above 15%: strong)
EPS, next year A +24.64% (at or above 15%: strong)
Revenue, next year A −23.59% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +32.95% (at or above 15%: strong)

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 0.0×, against a ten-year median of 0.6×; over the ten years it ranged from −20.9× in 2016 to 86.3× in 2016.
EV/FCF against its own 10 years 37.97%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2022 2023 2024 Q'25
Cash 52 78 18 3
Receivables — — — —
Inventory — — — —
Other — — — 0
55 80 24 6
2022 2023 2024 Q'25
Payables 2 4 2 6
ST’ Debt — — — —
Other 1 1 1 —
20 16 16 7

Compound Annual Growth %

10y 5y 3y
Sales — 115.24% (9.57%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 0.00% 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY24 Estimate −0.31 Actual −0.31

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY23 −0.56 −0.52 Beat by 0.04
Q1 FY24 −0.37 −0.46 Miss by 0.09
Q2 FY24 −0.36 −0.27 Beat by 0.09
Q3 FY24 −0.31 −0.31 Met by 0.00

EPS $

Mar Jun Sep Dec Year
’26 (0.22) (0.23) 1.07 — —
’24 (0.46) (0.27) (0.31) (0.42) (1.46)
’23 (1.93) (0.49) (0.53) (0.52) (2.59)
’22 (5.49) (7.20) (8.37) (7.71) (28.77)
’21 (7.00) (3.00) 7.20 0.80 (0.04)
’20 6.20 (4.80) (3.80) (2.20) (3.80)
’19 (1.60) (13.40) (2.60) (6.40) (23.60)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 4 — 45 — —
’24 3 9 3 4 20
’23 3 4 4 4 15
’22 1 3 3 4 10
’21 4 2 — 20 27
’20 — — 11 — 11
’17 0 — — — 0
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (10) (6) 2 — —
’24 (22) (16) (13) (8) (60)
’23 (26) (19) (21) (16) (81)
’22 35 (14) (8) (17) (5)
’21 (18) (23) (15) (13) (69)
’20 (9) (9) (4) (9) (31)
’19 (8) (9) (7) (14) (38)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (10) (6) 2 — —
’24 (22) (16) (13) (8) (60)
’23 (26) (19) (21) (17) (82)
’22 34 (15) (11) (17) (10)
’21 (18) (23) (15) (13) (69)
’20 (9) (9) (4) (9) (31)
’19 (8) (9) (7) (14) (38)
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

Ten-year view Analyst estimates Powerpack
Group Line 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 TTM Sep ’25 Trend 10 yrs 2025e 2026e 2027e Next 3/yr
Income, $m
Income, $m Revenue — 30 0 — — 11 27 10 15 20 56 (5.2%) 15 15 15 (8.6%)
Gross margin, % — 100.00 100.00 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT — 2 (29) (34) (107) (21) (9) (61) (87) (60) 8 n/m
EBT margin, % — 6.32 (6,830.35) 0.00 0.00 (186.47) (32.43) (622.60) (582.34) (308.05) 14.36 (314.4) pt
Net income — 2 (29) (34) (107) (22) 0 (61) (87) (60) 8 n/m
Per share, $
Per share, $ Revenue — 28.44 0.33 0.00 0.00 1.90 2.91 4.62 0.45 0.47 1.34 (40.1%)
Earnings — 1.80 (22.20) (11.00) (23.60) (3.80) (0.04) (28.77) (2.59) (1.45) 0.20 n/m
Cash flow — 2.41 (13.61) (7.39) (8.25) (5.22) (7.56) (2.40) (2.42) (1.45) (0.54) n/m
Capex — 0.31 0.08 0.00 (0.03) 0.00 0.00 (2.19) (0.03) 0.00 0.02 n/m
Free cash flow — 2.72 (13.53) (7.39) (8.28) (5.22) (7.56) (4.59) (2.46) (1.45) (0.52) n/m
Book value — 36.69 13.82 14.31 (5.87) (1.56) 18.84 (67.04) 0.79 (0.67) (0.02) n/m
Shares, m — 1 1 3 5 6 9 2 34 41 42 +58.2%
Valuation, ×
Valuation, × P/E — 24.88 0.00 — — 0.00 0.00 0.00 0.00 0.00 0.00 3.6
P/S — 1.40 0.72 — — 3.88 3.93 2.77 6.38 0.89 0.00 2.9
P/B — 1.08 1.20 — — 0.00 0.87 0.00 3.59 0.00 0.00 1.0
EV/Sales — 0.56 0.24 — — 2.54 (0.37) 1.00 1.20 (0.02) (0.05) 0.7
EV/FCF — 5.85 (0.40) — — (3.37) 0.20 (1.00) (0.22) 0.01 0.13 0.2
Cash, $m
Cash, $m Operating cash flow — 3 (18) (23) (38) (31) (69) (5) (81) (60) (22) n/m
Capex — 0 0 0 0 0 0 (5) (1) 0 1 n/m
Free cash flow — 3 (18) (23) (38) (31) (69) (10) (82) (60) (22) n/m
Balance, $m
Balance, $m Working capital — 22 10 46 46 45 194 35 65 8 (1) (12.2%)
Net debt — (25) (15) (50) (48) (55) (163) (17) (77) (18) (3) (4.3%)
Shareholders’ equity — 39 18 44 (27) (9) 172 (143) 27 (28) (1) n/m
Returns, %
Returns, % ROA — 2.68 (32.40) (36.10) (95.16) (19.01) (0.18) (39.13) (107.45) (100.78) 33.09 (103.5) pt
ROIC — 13.43 (545.15) 0.00 0.00 0.00 (58.88) 0.00 0.00 0.00 0.00 (13.4) pt
ROE — 6.56 (102.38) (108.27) (1,228.08) 125.50 (0.41) (421.67) 149.61 8,783.88 (134.11) +8,777.3 pt
People
People Employees — 35 17 24 25 27 35 17 107 46 — +3.5%
Revenue/emp, $m — 0.86 0.03 0.00 0.00 0.42 0.76 0.58 0.14 0.43 — (8.3%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2024 · latest quarter Sep 2025

Carisma 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
PPCB Propanc Biopharma Inc $1.7M — (loss-making) — — −99.64% (below 0%: shrinking) −1,637.42% (below 0%: shrinking) — 0.00% Compare
XRTX XORTX Therapeutics Inc. $1.7M — (loss-making) — — n/m −318.40% (below 0%: shrinking) 0.00% 0.00% Compare
GOVX GeoVax Labs Inc. $1.6M — (loss-making) — (loss-making) +183.44% (above 0%: growing) n/m +15.81% (above 0%: growing) 100.00% 0.00% Compare
ITRMF Iterum Therapeutics PLC $1.6M — (loss-making) — (loss-making) +110.81% (above 0%: growing) n/m −179.15% (below 0%: shrinking) 94.87% (1,982.31%) Compare
OGEN Oragenics, Inc. $1.6M — (loss-making) — (loss-making) −75.33% (below 0%: shrinking) n/m −66.37% (below 0%: shrinking) 100.00% 0.00% Compare
VRAX Virax Biolabs Group Limited $1.6M — (loss-making) — (loss-making) — −855.56% (below 0%: shrinking) +32.24% (above 0%: growing) (53.57%) 0.00% Compare
KAPA Kairos Pharma, Ltd. $1.5M — (loss-making) — — n/m −25.71% (below 0%: shrinking) — 0.00% Compare
CARM Carisma Therapeutics Inc. $1.5M — (loss-making) — (loss-making) +392.01% (above 0%: growing) n/m +114.65% (above 0%: growing) 100.00% 96.83%
ABPO Abpro Holdings Inc. $1.4M 0.5× — — n/m −0.48% (below 0%: shrinking) 100.00% 0.00% Compare
Median of peers $1.6M — — +110.81% — −46.04% 97.44% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 7 July 2025

Ownership

Directors and executive officers, together 6.90%
ModernaTX, Inc. 12.11%
HealthCap VII L.P. 8.13%
Entities affiliated with IPG 6.49%
Wellington Life Sciences V GmbH & Co. KG 5.50%
SymBiosis II, LLC 5.30%
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

Carisma Therapeutics Inc. (CARM) Latest News

29 Jul

Impact 3 ·

6 Mar

Impact 4 · · hospitalmanagement.net
Impact 3 · · pharmaceutical-technology.com

5 Dec

Impact 3 · · PR NewswireMT NewswiresPackaging GatewayMT NewswiresMT NewswiresMT Newswires

9 Sep

Impact 3 ·

8 Sep

Impact 3 · · Associated Press Finance

2 Sep

Impact 3 ·

24 Jun

Impact 4 · · TipRanks

23 Jun

Impact 4 ·

2 Apr

Impact 4 · · Simply Wall St.

31 Mar

Impact 4 ·

9 Dec

Impact 4 ·

27 Nov

Impact 3 · · PR Newswire

17 Nov

Impact 4 · · PR Newswire

8 Nov

Impact 4 ·

7 Nov

Impact 3 ·

5 Nov

Impact 4 ·

30 Oct

Impact 3 · · PR Newswire

4 Oct

Impact 4 · · PR Newswire

10 Sep

Impact 4 · · MT Newswires
Impact 4 · · PR Newswire

3 Sep

Impact 3 · · PR Newswire

13 Aug

Impact 4 · · Zacks

8 Aug

Impact 4 · · PR Newswire
Impact 3 · · Zacks

6 Aug

Impact 4 · · PR Newswire
Impact 4 · · PR Newswire

3 Aug

Impact 4 · · Simply Wall St.

1 Jul

Impact 4 · · PR Newswire

27 Jun

Impact 4 · · PR Newswire
stockrow.com/CARM · Data as of Sep 30, 2025 · For information only; not investment advice. · © 2026 stockrow.com