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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. 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.

0.00 0.02 −100.00%
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 (below 1: weak)
Debt/Equity 0.00 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (0.07) (negative: loss-making)
P/S ratio 0.00
P/B ratio 0.00
Past 5Y EPS Growth —
This Y EPS Growth 52.74% (at or above 15%: strong)
Next Y EPS Growth 24.64% (at or above 15%: strong)
Next Y revenue growth (23.59%) (below 0%: weak)
Next 5Y EPS Growth 32.95% (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 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 37.08%
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.

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 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Trend 2025e 2026e 2027e
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

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
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.

Carisma Therapeutics Inc. (CARM) Latest News

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