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Saturday 17 October 2026 Export DNLI’s income statement to Excel — free account

Denali Therapeutics Inc.

DNLI Healthcare Biotechnology

In the quarter to June 2026, revenue fell 89.7%, EPS grew 5.56%, free cash flow fell 22.9% and total debt fell 1.76%, each against the same quarter a year earlier. Revenue growth for three consecutive years.

17.56 0.78 −4.25%
Market cap
$2.9B
P/E
0.0×
Fwd P/E
−7.7×
Dividend yield
—
F-score
4/9
Altman Z
13.78
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

Total sells 1.24
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — 2 — — — — — — 1 2 —
Insider Ownership 20.08%

Capital & Financial Ratios $m

Market Cap 2,930.00
Revenue 298.99
Net Income (511.45)
Free Cash Flow (437.46)
Net Debt (704.99)
Current Ratio 8.37 (at or above 1.5: strong)
Debt/Equity 0.01 (at or below 0.5: strong)
P/E ratio 0.00
Fwd P/E (7.70) (negative: loss-making)
P/S ratio 11.00 (above 10: high)
P/B ratio 3.94
Past 5Y EPS Growth —
This Y EPS Growth 22.82% (at or above 15%: strong)
Next Y EPS Growth (2.24%) (below 0%: weak)
Next Y revenue growth (96.25%) (below 0%: weak)
Next 5Y EPS Growth 16.00% (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 8.6×, against a ten-year median of 12.1×; over the ten years it ranged from 3.7× in 2024 to 241× in 2020.
P/S against its own 10 years 29.69%
10-year low 10-year high
P/B against its own 10 years 58.37%
10-year low 10-year high
EV/Sales against its own 10 years 33.11%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 1,035 832 868 710
Receivables — — — 4
Inventory — — — 4
Other — — — —
1,064 864 901 754
2023 2024 2025 Q'26
Payables 9 11 3 12
ST’ Debt — — — —
Other — — — —
78 102 98 90

Compound Annual Growth %

10y 5y 3y
Sales — 20.67% (0.51%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 40.99% (2.50%) (0.93%)

Revenue $m

Mar Jun Sep Dec Year
’26 — 4 — — —
’23 35 294 1 0 331
’22 42 52 4 10 108
’21 8 23 5 13 49
’20 4 6 9 317 336
’19 4 4 14 5 27
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (131) (97) — — —
’25 (131) (75) (107) (99) (413)
’24 (114) (91) (59) (84) (348)
’23 (59) (113) (87) (99) (358)
’22 (72) (43) (57) (73) (245)
’21 (50) (54) (41) (65) (211)
’20 (54) (43) 0 514 416
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (134) (98) — — —
’25 (137) (80) (106) (100) (422)
’24 (116) (96) (63) (89) (364)
’23 (62) (119) (89) (101) (371)
’22 (76) (46) (63) (78) (263)
’21 (53) (55) (43) (69) (220)
’20 (55) (44) (1) 513 413
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.69) (0.68) — — —
’25 (0.78) (0.72) (0.74) (0.73) (2.97)
’24 (0.68) (0.59) (0.63) (0.67) (2.57)
’23 (0.80) 1.30 (0.72) (0.86) (1.06)
’22 (0.53) (0.48) (0.84) (0.75) (2.60)
’21 (0.58) (0.50) (0.69) (0.62) (2.39)
’20 (0.55) (0.56) (0.54) 1.91 0.63
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.2
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — 14.72 12.32 14.24 12.39 41.10 20.24 15.45 14.56 10.57

Analyst estimates 2026–2028

Powerpack
High — 22.95 25.79 28.87 93.94 84.25 47.47 33.31 33.33 24.35
People
People Employees 125 130 179 261 291 380 427 445 422 503
Revenue/emp, $m 0.00 0.00 0.72 0.10 1.15 0.13 0.25 0.74 0.00 0.00
Income, $m
Income, $m Revenue — — 129 27 336 49 108 331 — —
Gross margin, % 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00 — —
EBT (87) (88) (36) (198) 72 (291) (326) (145) (423) (512)
EBT margin, % 0.00 0.00 (28.06) (742.05) 21.44 (598.34) (300.54) (43.93) 0.00 0.00
Net income (87) (88) (36) (198) 71 (291) (326) (145) (423) (513)
Depreciation 2 4 5 3 9 17 9 (27) (27) 1
Per share, $
Per share, $ Revenue 0.00 0.00 1.39 0.28 3.08 0.40 0.86 2.41 0.00 0.00
Earnings (13.49) (5.89) (0.39) (2.07) 0.65 (2.39) (2.60) (1.06) (2.57) (2.97)
Cash flow (11.19) (5.12) 0.54 (1.59) 3.82 (1.74) (1.95) (2.61) (2.11) (2.39)
Capex (0.95) (0.19) (0.04) (0.19) (0.03) (0.07) (0.14) (0.09) (0.10) (0.05)
Free cash flow (12.15) (5.31) 0.50 (1.77) 3.79 (1.81) (2.09) (2.70) (2.21) (2.44)
Book value 39.61 31.13 5.90 4.13 10.56 7.92 8.30 7.50 7.48 5.87
Shares, m 6 15 93 96 109 122 126 137 164 173
Valuation, ×
Valuation, × P/E — — 0.00 0.00 214.77 0.00 0.00 0.00 — —
P/S — — 14.82 62.43 27.19 111.38 31.98 8.89 — —
P/B — — 3.50 4.22 7.93 5.63 3.33 2.85 — —
EV/Sales — — 11.22 49.45 23.01 94.81 20.15 5.90 — —
EV/FCF — — 31.02 (7.78) 18.69 (20.98) (8.32) (5.26) — —
Cash, $m
Cash, $m Operating cash flow (72) (77) 50 (152) 416 (211) (245) (358) (348) (413)
Capex (6) (3) (3) (18) (3) (8) (18) (13) (16) (10)
Free cash flow (78) (80) 47 (169) 413 (220) (263) (371) (364) (422)
Balance, $m
Balance, $m Working capital 173 395 448 385 1,424 519 1,008 986 762 802
Total debt — — — 69 64 59 53 — 6 6
Net debt (178) (406) (464) (346) (1,406) (806) (1,283) (1,035) (827) (862)
Shareholders’ equity 255 466 547 395 1,151 962 1,042 1,031 1,230 1,014
Returns, %
Returns, % ROA (56.31) (23.27) (6.31) (32.52) 6.59 (19.32) (22.76) (11.11) (33.45) (40.69)
ROIC (71.72) (94.57) (35.11) (274.53) 0.00 (118.58) 0.00 0.00 (75.59) (229.23)
ROE 157.85 (47.46) (7.16) (41.97) 9.21 (27.51) (32.52) (14.01) (37.40) (45.69)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2023 · latest quarter Jun 2026

Charts ten years each

Denali 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
XENE Xenon Pharmaceuticals Inc. $3.3B — (loss-making) — (loss-making) +100.70% (above 0%: growing) n/m −48.57% (below 0%: shrinking) 100.00% 0.00% Compare
IDYA IDEAYA Biosciences, Inc. $3.3B — (loss-making) — (loss-making) +125.77% (above 0%: growing) n/m −41.09% (below 0%: shrinking) 100.00% (1,380.73%) Compare
CELC Celcuity, Inc. $3.0B — (loss-making) — — n/m −53.27% (below 0%: shrinking) 0.00% 0.00% Compare
DNLI Denali Therapeutics Inc. $2.9B — (loss-making) — (loss-making) −89.74% (below 0%: shrinking) n/m −22.91% (below 0%: shrinking) 97.42% (3,622.11%)
RCUS Arcus Biosciences, Inc. $2.9B — (loss-making) — (loss-making) −74.38% (below 0%: shrinking) n/m +10.53% (above 0%: growing) 100.00% (234.15%) Compare
ELVN Enliven Therapeutics, Inc. $2.9B — (loss-making) — — n/m −8.34% (below 0%: shrinking) 0.00% 0.00% Compare
DYN Dyne Therapeutics, Inc. $2.9B — (loss-making) — — n/m −39.08% (below 0%: shrinking) 0.00% 0.00% Compare
NRIX Nurix Therapeutics, Inc. $2.7B 9.7× — (loss-making) +8,426.27% (above 0%: growing) n/m +1,122.10% (above 0%: growing) 100.00% 83.12% Compare
ZLAB Zai Lab Limited Unsponsored ADR $2.7B — (loss-making) — (loss-making) −3.33% (below 0%: shrinking) n/m −84.42% (below 0%: shrinking) 54.70% (71.95%) Compare
Median of peers $2.9B — — +100.70% — −40.08% 77.35% 0.00%

All 614 Biotechnology stocks →

Denali Therapeutics Inc. (DNLI) key facts

  • Concern: Denali Therapeutics Inc. reported a net loss of $512.5 million, or a loss of $2.97 per share, for fiscal 2025.
  • Denali Therapeutics Inc. (DNLI) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, DNLI traded at $17.56, a market capitalization of $2.9 billion.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 11.0× sales.
  • Return on equity was −45.7% and debt-to-equity 0.01.
  • Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 13.78 (safe zone) for fiscal 2023.

Source: company filings (standardised) and stockrow calculations.

Denali Therapeutics Inc. (DNLI) Latest News

25 Mar

Impact 5 ·
Impact 5 ·
stockrow.com/DNLI · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com