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Carisma Therapeutics Inc.

Carisma Therapeutics Inc.’s revenue for fiscal 2024 (year ended December 2024) was $19.6 million, up 31.6% from fiscal 2023. In the quarter to September 2025, revenue grew 392.0%, EPS grew 445.2% and free cash flow grew 114.7%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

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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 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 39.26%

Capital & Financial Ratios $m

Market Cap 1.52

Revenue 56.02

Net Income 8.04

Free Cash Flow (21.73)

Net Debt (2.78)

Current Ratio 0.86

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (0.07)

P/S ratio 0.00

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 52.74%

Next Y EPS Growth 24.64%

Next Y revenue growth (23.59%)

Next 5Y EPS Growth 32.95%

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

Valuation vs history

EV/Sales, ten years

EV/FCF against its own 10 years 37.08%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2026	Powerpack
2025	Powerpack
2024	Powerpack
2023	1.53	1.53 7.23
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

predictions special payouts not included in total or ratios

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%

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.

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.

Group	Line	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025e
Price, $
Price, $	Low	—	5.02	12.40	15.00	13.22	7.40	14.00	7.30	2.18	0.38	Analyst estimates 2025–2027 Powerpack
	High	—	119.40	50.80	70.00	52.00	36.40	120.80	19.30	13.00	3.06
People
People	Employees	—	35	17	24	25	27	35	17	107	46
	Revenue/emp, $m	—	0.86	0.03	0.00	0.00	0.42	0.76	0.58	0.14	0.43
Income, $m
Income, $m	Revenue	—	30	0	—	—	11	27	10	15	20
	Gross margin, %	—	100.00	100.00	0.00	0.00	100.00	100.00	100.00	100.00	100.00
	EBT	—	2	(29)	(34)	(107)	(21)	(9)	(61)	(87)	(60)
	EBT margin, %	—	6.32	(6,830.35)	0.00	0.00	(186.47)	(32.43)	(622.60)	(582.34)	(308.05)
	Net income	—	2	(29)	(34)	(107)	(22)	0	(61)	(87)	(60)
	Depreciation	—	0	0	0	0	0	32	4	4	3
Per share, $
Per share, $	Revenue	—	28.44	0.33	0.00	0.00	1.90	2.91	4.62	0.45	0.47
	Earnings	—	1.80	(22.20)	(11.00)	(23.60)	(3.80)	(0.04)	(28.77)	(2.59)	(1.45)
	Cash flow	—	2.41	(13.61)	(7.39)	(8.25)	(5.22)	(7.56)	(2.40)	(2.42)	(1.45)
	Capex	—	0.31	0.08	0.00	(0.03)	0.00	0.00	(2.19)	(0.03)	0.00
	Free cash flow	—	2.72	(13.53)	(7.39)	(8.28)	(5.22)	(7.56)	(4.59)	(2.46)	(1.45)
	Book value	—	36.69	13.82	14.31	(5.87)	(1.56)	18.84	(67.04)	0.79	(0.67)
	Shares, m	—	1	1	3	5	6	9	2	34	41
Valuation, ×
Valuation, ×	P/E	—	24.88	0.00	—	—	0.00	0.00	0.00	0.00	0.00
	P/S	—	1.40	0.72	—	—	3.88	3.93	2.77	6.38	0.89
	P/B	—	1.08	1.20	—	—	0.00	0.87	0.00	3.59	0.00
	EV/Sales	—	0.56	0.24	—	—	2.54	(0.37)	1.00	1.20	(0.02)
	EV/FCF	—	5.85	(0.40)	—	—	(3.37)	0.20	(1.00)	(0.22)	0.01
Cash, $m
Cash, $m	Operating cash flow	—	3	(18)	(23)	(38)	(31)	(69)	(5)	(81)	(60)
	Capex	—	0	0	0	0	0	0	(5)	(1)	0
	Free cash flow	—	3	(18)	(23)	(38)	(31)	(69)	(10)	(82)	(60)
Balance, $m
Balance, $m	Working capital	—	22	10	46	46	45	194	35	65	8
	Total debt	—	—	—	—	—	—	—	35	0	0
	Net debt	—	(25)	(15)	(50)	(48)	(55)	(163)	(17)	(77)	(18)
	Shareholders’ equity	—	39	18	44	(27)	(9)	172	(143)	27	(28)
Returns, %
Returns, %	ROA	—	2.68	(32.40)	(36.10)	(95.16)	(19.01)	(0.18)	(39.13)	(107.45)	(100.78)
	ROIC	—	13.43	(545.15)	0.00	0.00	0.00	(58.88)	0.00	0.00	0.00
	ROE	—	6.56	(102.38)	(108.27)	(1,228.08)	125.50	(0.41)	(421.67)	149.61	8,783.88

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2024 · latest quarter Sep 2025

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
GNPX GENPREX	$1.9M	0.0×	—	—	n/m	−32.98% (below 0%: shrinking)	0.00%	0.00%	Compare
TRVN Trevena, Inc.	$1.8M	— (loss-making)	— (loss-making)	+57.22% (above 0%: growing)	n/m	+49.55% (above 0%: growing)	59.72%	(1,970.67%)	Compare
NEXI NexImmune, Inc.	$1.6M	— (loss-making)	—	—	n/m	+66.38% (above 0%: growing)	0.00%	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
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%
ARTL Artelo Biosciences, Inc.	$1.5M	— (loss-making)	—	—	n/m	−879.18% (below 0%: shrinking)	0.00%	0.00%	Compare
ABPO Abpro Holdings Inc.	$1.4M	0.2×	—	—	n/m	−0.48% (below 0%: shrinking)	100.00%	0.00%	Compare
MLEC Moolec Science SA	$1.4M	— (loss-making)	— (loss-making)	+948.39% (above 0%: growing)	n/m	+4.48% (above 0%: growing)	(25.52%)	(77.92%)	Compare
PTIX Atrinsic Inc.	$1.3M	0.3×	—	+34.31% (above 0%: growing)	n/m	+46.07% (above 0%: growing)	0.00%	0.00%	Compare
Median of peers	$1.5M	0.2×	—	+84.02%	—	+2.00%	0.00%	0.00%

All 614 Biotechnology stocks →

Carisma Therapeutics Inc. (CARM) key facts

Strength: Carisma Therapeutics Inc.’s revenue for fiscal 2024 (year ended December 2024) was $19.6 million, up 31.6% from fiscal 2023.
Carisma Therapeutics Inc. (CARM) is a Biotechnology company in the Healthcare sector.
Return on equity was 8,783.9% and debt-to-equity 0.00.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −19.65 (distress zone) for fiscal 2024.

Source: company filings (standardised) and stockrow calculations.