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Fate Therapeutics, Inc.

FATE

Healthcare Biotechnology

Fate Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.6 million, down 51.2% from fiscal 2024.

Revenue
+9.18%
EPS
+13.8%
Free cash flow
+8.96%

Quarter to June 2026, against a year earlier

1.84 0.01 −0.54%
Market cap
$223.1M
P/E
n/m
Fwd P/E
n/m
Dividend yield
—
F-score
3/9
ROIC
0.00%
Net debt / EBITDA
1.5×
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net sold
$336.4K
Trades
7 sells · 0 buys
Ownership
5.12%

Capital & Financial Ratios $m

Size
Market Cap 223
Revenue ttm 6
Net income ttm (126)
Free cash flow ttm (105)
Net debt Q (154)
Valuation
P/E n/m
Forward P/E n/m
Price / sales 34.1 (above 10: high)
Forward P/S Powerpack
Price / FCF n/m
Price / book 1.4
Financial health
Current ratio Q 4.8 (at or above 1.5: strong)
Debt / equity Q n/m
Interest coverage Q (10.9)
Growth
Revenue growth Q +9.2% (above 0%: growing)
Operating income growth Q +15.8% (above 0%: growing)
EPS, this year +11.1%
EPS, next year A −2.0% (below 0%: weak)
Revenue, next year A −19.7% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +0.4%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 14.0×, against a ten-year median of 25.4×; over the ten years it ranged from −9.6× in 2025 to 252× in 2020.
P/S against its own 10 years 43.62%
10-year low 10-year high
P/B against its own 10 years 32.18%
10-year low 10-year high
EV/Sales against its own 10 years 28.29%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 315 279 204 154
Receivables 2 4 1 1
Inventory — — — —
Other — — — —
332 292 209 158
2023 2024 2025 Q'26
Payables 5 9 3 3
ST’ Debt — — — —
Other — — 8 10
39 39 36 33

Compound Annual Growth %

10y 5y 3y
Sales 10.58% (26.71%) (58.98%)
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value 18.47% (11.63%) (24.63%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.27 Actual −0.25

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 −0.27 −0.27 Met by 0.00
Q1 FY26 −0.29 −0.26 Beat by 0.03
Q2 FY26 −0.28 −0.25 Beat by 0.03
Q3 FY26 −0.27 −0.25 Beat by 0.02
Q4 FY26 −0.29 — Reports 25 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.26) (0.25) — — —
’25 (0.32) (0.29) (0.27) (0.27) (1.15)
’24 (0.47) (0.33) (0.40) (0.44) (1.64)
’23 (0.19) (0.54) (0.46) (0.45) (1.64)
’22 (0.68) (0.79) (0.86) (0.58) (2.91)
’21 (0.48) (0.58) (0.45) (0.72) (2.24)
’20 (0.44) (0.35) (0.68) (0.61) (2.10)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 1 2 — — —
’25 2 2 2 1 7
’24 2 7 3 2 14
’23 59 1 2 2 64
’22 18 19 15 44 96
’21 11 13 14 17 56
’20 3 5 8 16 31
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (31) (23) — — —
’25 (34) (25) (24) (23) (106)
’24 (33) (32) (29) (28) (123)
’23 (29) (28) (38) (37) (132)
’22 (65) (53) (55) (75) (248)
’21 (27) (32) (33) (70) (163)
’20 (27) 39 (31) (21) (39)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (31) (24) — — —
’25 (35) (26) (27) (24) (112)
’24 (33) (32) (30) (28) (124)
’23 (32) (31) (39) (37) (138)
’22 (75) (63) (64) (82) (284)
’21 (31) (46) (48) (89) (214)
’20 (28) 38 (32) (23) (44)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

2.1
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Jun ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 4 4 5 11 31 56 96 64 14 7 6 +4.7% 5 5 4 (15.5%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT (33) (43) (67) (98) (173) (212) (282) (161) (186) (136) (126) +16.9%
EBT margin, % (760.15) (1,046.08) (1,405.02) (919.00) (551.59) (379.89) (292.55) (253.30) (1,366.46) (2,051.08) (1,941.09) (1,290.9) pt
Net income (33) (43) (67) (98) (173) (212) (282) (161) (186) (136) (126) +16.9%
Per share, $
Per share, $ Revenue 0.14 0.10 0.08 0.16 0.38 0.59 0.99 0.65 0.12 0.06 0.05 (9.6%)
Earnings (1.05) (1.02) (1.19) (1.44) (2.10) (2.24) (2.91) (1.64) (1.64) (1.15) (1.05) +1.0%
Cash flow (0.94) (0.88) (0.69) (1.22) (0.48) (1.72) (2.56) (1.34) (1.08) (0.89) (0.85) (0.6%)
Capex (0.01) (0.04) (0.04) (0.11) (0.06) (0.54) (0.37) (0.06) (0.01) (0.05) (0.03) +14.6%
Free cash flow (0.95) (0.92) (0.73) (1.33) (0.54) (2.25) (2.93) (1.41) (1.09) (0.94) (0.88) (0.2%)
Book value 2.30 1.84 2.86 3.59 4.67 7.16 5.00 3.74 2.80 1.74 1.27 (3.0%)
Shares, m 32 42 56 68 82 95 97 98 114 119 120 +15.8%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 19.40 64.41 152.11 124.95 238.32 99.27 10.23 5.72 13.76 17.52 34.13 74.6
P/B 1.17 3.43 4.49 5.45 19.49 8.17 2.03 0.99 0.59 0.56 1.44 4.6
EV/Sales 0.91 45.29 112.84 106.41 223.70 88.66 5.94 1.12 (4.99) (9.61) 14.04 57.0
EV/FCF (0.13) (4.82) (13.06) (12.55) (159.23) (23.18) (2.02) (0.52) 0.55 0.57 (0.86) (21.4)
Cash, $m
Cash, $m Operating cash flow (30) (37) (39) (83) (39) (163) (248) (132) (123) (106) (102) +15.1%
Capex 0 (2) (2) (7) (5) (51) (36) (6) (1) (6) (3) +32.7%
Free cash flow (30) (39) (41) (91) (44) (214) (284) (138) (124) (112) (105) +15.6%
Balance, $m
Balance, $m Working capital 78 92 178 199 409 552 388 292 253 173 125 +9.2%
Net debt (81) (86) (186) (221) (483) (616) (436) (315) (279) (204) (154) +10.7%
Shareholders’ equity 73 77 160 245 384 679 484 368 319 207 153 +12.3%
Returns, %
Returns, % ROA (41.06) (42.88) (41.84) (38.09) (37.50) (27.48) (34.63) (26.56) (39.34) (35.89) (39.89) +5.2 pt
ROIC 0.00 0.00 0.00 (269.85) 0.00 (215.52) (403.97) (223.64) (331.39) (2,617.38) 0.00 (2,617.4) pt
ROE (60.19) (57.14) (56.05) (48.44) (55.11) (39.91) (48.46) (37.76) (54.21) (51.84) (60.75) +8.4 pt
People
People Employees 66 80 104 178 279 449 551 181 181 161 — +10.4%
Revenue/emp, $m 0.07 0.05 0.05 0.06 0.11 0.12 0.17 0.35 0.08 0.04 — (5.2%)
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Fate 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
CABA Cabaletta Bio, Inc. $280.4M — (loss-making) — — n/m −35.72% (below 0%: shrinking) 0.00% 0.00% Compare
EVMN Evommune Inc. $241.3M — (loss-making) — (loss-making) — n/m +21.78% (above 0%: growing) 100.00% 0.00% Compare
ABEO Abeona Therapeutics Inc. $238.5M — (loss-making) — (loss-making) +225.14% (above 0%: growing) n/m +17.11% (above 0%: growing) 63.30% (119.97%) Compare
IMRX Immuneering Corporation $238.3M — (loss-making) — (loss-making) −99.74% (below 0%: shrinking) n/m −40.19% (below 0%: shrinking) 0.00% 0.00% Compare
VNDA Vanda Pharmaceuticals Inc. $231.0M — (loss-making) — (loss-making) +24.10% (above 0%: growing) n/m +9.57% (above 0%: growing) 94.05% (33.69%) Compare
ACIU AC Immune $227.0M — (loss-making) — (loss-making) +152.31% (above 0%: growing) n/m +4.66% (above 0%: growing) 100.00% (302.13%) Compare
FATE Fate Therapeutics, Inc. $223.1M — (loss-making) — (loss-making) +9.18% (above 0%: growing) n/m +8.96% (above 0%: growing) 100.00% (1,495.39%)
GLSI Greenwich LifeSciences, Inc. $222.7M — (loss-making) — — n/m +13.14% (above 0%: growing) 0.00% 0.00% Compare
KRRO Korro Bio, Inc. $202.5M — (loss-making) — (loss-making) −86.28% (below 0%: shrinking) n/m +12.07% (above 0%: growing) 100.00% 0.00% Compare
Median of peers $234.7M — — +24.10% — +10.82% 78.68% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 24 April 2026

Ownership

Directors and executive officers, together 37.13%
Entities affiliated with Redmile Group, LLC 14.99%
ARK Investment Management LLC 8.87%
Vanguard Group Inc. 7.54%
BlackRock, Inc. 6.75%
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

Fate Therapeutics, Inc. (FATE) Latest News

5 Nov

Impact 3 · · GlobeNewswire

26 Oct

Impact 4 · · GlobeNewswire

12 Oct

Impact 4 · · GlobeNewswire

25 Sep

Impact 4 · · GlobeNewswire

16 Sep

Impact 3 ·

9 Sep

Impact 3 ·

2 Sep

Impact 4 · · biopharmadive.com

14 Aug

Impact 4 ·

13 Aug

Impact 4 ·

9 Jul

Impact 4 · · Stocktwits
Impact 4 ·

4 Jun

Impact 3 · · GlobeNewswire

1 Jun

Impact 3 · · GlobeNewswire

13 May

Impact 3 · · Zacks
Impact 3 · · GlobeNewswire

11 May

Impact 4 · · GlobeNewswire

5 May

Impact 4 · · GlobeNewswire

4 May

Impact 3 · · GlobeNewswire

30 Apr

Impact 3 ·

16 Apr

Impact 4 · · GlobeNewswire
Impact 3 · · MarketBeat

16 Mar

Impact 4 · · MarketBeat

26 Feb

Impact 4 · · Associated Press Finance
Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

21 Dec

Impact 4 · · Simply Wall St.

8 Dec

Impact 4 ·

13 Nov

Impact 4 · · GlobeNewswire
Impact 3 · · Zacks

4 Nov

Impact 3 · · Zacks
stockrow.com/FATE · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com