| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | 1 | — | — | — | 9 | — | 2 | 5 | 1 | 1 | — |
| total | individual payouts | |
|---|---|---|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2020 | ‡‡‡ |
|
| 2019 | ‡‡‡ |
|
| 2017 | ‡‡‡ |
|
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Cash | 65.85 | 80.45 | 82.88 | 56.26 |
| Receivables | 35.50 | 29.78 | 30.37 | 30.98 |
| Inventory | 39.87 | 38.15 | 56.10 | 65.81 |
| Other | — | — | — | — |
| 144.44 | 152.02 | 174.38 | 157.31 |
| 2023 | 2024 | 2025 | Q'26 | |
|---|---|---|---|---|
| Payables | 23.84 | 21.70 | 28.01 | 33.52 |
| ST’ Debt | 20.00 | 19.30 | 43.34 | 30.09 |
| Other | — | — | — | — |
| 67.52 | 63.61 | 100.80 | 85.79 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | 59.89 | 63.30 | — | — |
—
|
| ’25 | 48.85 | 60.13 | 60.24 | 64.58 |
233.80
|
| ’24 | 43.40 | 50.52 | 50.66 | 56.75 |
201.32
|
| ’23 | 38.48 | 47.73 | 47.25 | 53.34 |
186.80
|
| ’22 | 43.02 | 47.63 | 46.34 | 51.32 |
188.32
|
| ’21 | 29.57 | 37.76 | 42.10 | 50.09 |
159.52
|
| ’20 | 24.64 | 26.83 | 29.19 | 33.59 |
114.25
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (3.05) | (2.66) | — | — |
—
|
| ’25 | (0.84) | (2.45) | 1.93 | 6.20 |
4.84
|
| ’24 | 1.96 | 0.40 | 4.07 | 4.93 |
11.36
|
| ’23 | (8.50) | (9.00) | (10.49) | (15.18) |
(43.17)
|
| ’22 | (21.46) | (0.34) | (2.06) | (1.76) |
(25.61)
|
| ’21 | (17.45) | (8.66) | (6.58) | (1.22) |
(33.92)
|
| ’20 | (19.80) | (7.92) | (5.19) | (8.90) |
(41.81)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (3.28) | (3.53) | — | — |
—
|
| ’25 | (0.96) | (2.92) | 0.09 | 4.89 |
1.11
|
| ’24 | 0.86 | 0.36 | 3.35 | 3.95 |
8.52
|
| ’23 | (10.02) | (9.44) | (13.12) | (15.18) |
(47.76)
|
| ’22 | (21.57) | (0.42) | (2.63) | 37.11 |
12.49
|
| ’21 | (17.65) | (8.69) | (6.80) | (1.69) |
(34.83)
|
| ’20 | (20.25) | (8.37) | (5.43) | (9.37) |
(43.43)
|
| Mar | Jun | Sep | Dec | Year | |
|---|---|---|---|---|---|
| ’26 | (0.01) | (0.01) | — | — |
—
|
| ’25 | (0.04) | (0.03) | 0.00 | (0.01) |
(0.08)
|
| ’24 | (0.05) | (0.03) | (0.02) | (0.01) |
(0.11)
|
| ’23 | (0.09) | (0.07) | (0.04) | (0.01) |
(0.21)
|
| ’22 | (0.07) | (0.05) | (0.05) | (0.08) |
(0.24)
|
| ’21 | (0.10) | (0.09) | (0.07) | (0.05) |
(0.32)
|
| ’20 | (0.10) | (0.09) | (0.08) | (0.09) |
(0.37)
|
| 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 3.25 | 1.21 | 1.38 | 1.12 | — | — | — |
Low Price
|
| ‡‡‡‡ | ‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ | 7.01 | 4.05 | 2.59 | 2.26 | — | — | — |
High Price
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 309 | 288 | 281 | 275 | — | — | — |
Employees
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.61 | 0.65 | 0.72 | 0.85 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 188.32 | 186.80 | 201.32 | 233.80 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 60.20% | 62.54% | 59.89% | 59.86% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (42.34) | (37.32) | (20.76) | (15.28) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (22.48%) | (19.98%) | (10.31%) | (6.54%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (42.82) | (37.65) | (20.96) | (15.64) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 2.98 | 2.60 | 1.86 | 1.43 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.07 | 1.04 | 1.09 | 1.23 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.24) | (0.21) | (0.11) | (0.08) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.15) | (0.24) | 0.06 | 0.03 | — | — | — |
Cash Flow/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.22 | (0.03) | (0.02) | (0.02) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.07 | (0.26) | 0.05 | 0.01 | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 0.39 | 0.30 | 0.31 | 0.34 | — | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 176.55 | 180.27 | 184.56 | 190.59 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.51 | 2.08 | 1.41 | 1.68 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 9.63 | 7.29 | 5.00 | 6.04 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.33 | 2.16 | 1.43 | 1.68 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 50.28 | (8.44) | 33.79 | 355.26 | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (25.61) | (43.17) | 11.36 | 4.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 38.10 | (4.60) | (2.84) | (3.73) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.49 | (47.76) | 8.52 | 1.11 | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 53.09 | 76.92 | 88.41 | 73.58 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 69.80 | 79.80 | 84.16 | 83.89 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (32.35) | 13.94 | 3.71 | 1.01 | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 68.56 | 53.44 | 56.90 | 64.97 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (18.78%) | (18.03%) | (10.49%) | (7.39%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (58.82%) | (27.87%) | (14.67%) | (8.22%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (55.49%) | (61.45%) | (37.92%) | (25.65%) | ‡‡‡‡‡ | — | — |
ROE
|
Cerus Corporation (CERS) has engineered impressive revenue growth, expanding from $39 million in 2016 to over $201 million in 2024 at a 26% CAGR, driven by its INTERCEPT Blood System’s pathogen inactivation technology and key FDA approvals like the 2022 platelet clearance. This has fueled U.S. market penetration amid rising blood safety demands, with projections showing steady 9-10% annual increases to $265 million by 2027. Operational efficiency shines through, with revenue per employee tripling to $716,000 and gross margins stable near 60%, underscoring scalable economics in a capital-intensive sector.
The path to profitability is materializing cautiously, with losses narrowing 67% to -$21 million in 2024 and free cash flow swinging to a robust +$46 million, bolstering a resilient balance sheet featuring $88 million in working capital and minimal net debt of $3.7 million. Valuation metrics are compellingly low—P/S at 1.4x, a steep discount to peers—trading at levels that suggest re-rating potential as earnings turn positive by 2027, though insider selling tempers unbridled optimism.
While risks like regulatory hurdles persist, Cerus’s fortress-like liquidity and FCF generation position it as a steady biotech contender in the $5B+ transfusion market, with analyst targets implying 80-120% upside. For those prioritizing balance sheet strength amid growth, this merits deeper scrutiny.
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