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

Fate Therapeutics, Inc.

Fate Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.6 million, down 51.2% from fiscal 2024. In the quarter to June 2026, revenue grew 9.18%, EPS grew 13.8% and free cash flow grew 8.96%, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years.

1.79 0.14 −7.25%

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Market cap: $230.7M
P/E: 0.0×
Fwd P/E: −1.8×
Dividend yield: —
F-score: 3/9
Altman Z: −6.97
Beneish M: −4.02
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 0.32

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	2	—	—	—	2	—	—	2	—	—

Insider Ownership 5.12%

Capital & Financial Ratios $m

Market Cap 230.65

Revenue 6.49

Net Income (126.00)

Free Cash Flow (105.42)

Net Debt (153.77)

Current Ratio 4.85

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (1.83)

P/S ratio 33.20

P/B ratio 1.40

Past 5Y EPS Growth —

This Y EPS Growth 7.34%

Next Y EPS Growth 1.36%

Next Y revenue growth (15.00%)

Next 5Y EPS Growth 1.60%

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

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 42.76%

10-year low 10-year high

P/B against its own 10 years 31.85%

10-year low 10-year high

EV/Sales against its own 10 years 27.45%

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	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%)

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.

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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	1.46	2.44	5.90	11.70	16.75	43.60	9.56	1.63	1.55	0.66	Analyst estimates 2026–2028 Powerpack
	High	3.82	6.75	17.98	22.82	103.66	121.16	60.43	11.44	8.83	1.99
People
People	Employees	66	80	104	178	279	449	551	181	181	161
	Revenue/emp, $m	0.07	0.05	0.05	0.06	0.11	0.12	0.17	0.35	0.08	0.04
Income, $m
Income, $m	Revenue	4	4	5	11	31	56	96	64	14	7
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	(33)	(43)	(67)	(98)	(173)	(212)	(282)	(161)	(186)	(136)
	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)
	Net income	(33)	(43)	(67)	(98)	(173)	(212)	(282)	(161)	(186)	(136)
	Depreciation	1	1	1	2	8	15	16	14	10	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
	Earnings	(1.05)	(1.02)	(1.19)	(1.44)	(2.10)	(2.24)	(2.91)	(1.64)	(1.64)	(1.15)
	Cash flow	(0.94)	(0.88)	(0.69)	(1.22)	(0.48)	(1.72)	(2.56)	(1.34)	(1.08)	(0.89)
	Capex	(0.01)	(0.04)	(0.04)	(0.11)	(0.06)	(0.54)	(0.37)	(0.06)	(0.01)	(0.05)
	Free cash flow	(0.95)	(0.92)	(0.73)	(1.33)	(0.54)	(2.25)	(2.93)	(1.41)	(1.09)	(0.94)
	Book value	2.30	1.84	2.86	3.59	4.67	7.16	5.00	3.74	2.80	1.74
	Shares, m	32	42	56	68	82	95	97	98	114	119
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	19.40	64.41	152.11	124.95	238.32	99.27	10.23	5.72	13.76	17.52
	P/B	1.17	3.43	4.49	5.45	19.49	8.17	2.03	0.99	0.59	0.56
	EV/Sales	0.91	45.29	112.84	106.41	223.70	88.66	5.94	1.12	(4.99)	(9.61)
	EV/FCF	(0.13)	(4.82)	(13.06)	(12.55)	(159.23)	(23.18)	(2.02)	(0.52)	0.55	0.57
Cash, $m
Cash, $m	Operating cash flow	(30)	(37)	(39)	(83)	(39)	(163)	(248)	(132)	(123)	(106)
	Capex	0	(2)	(2)	(7)	(5)	(51)	(36)	(6)	(1)	(6)
	Free cash flow	(30)	(39)	(41)	(91)	(44)	(214)	(284)	(138)	(124)	(112)
Balance, $m
Balance, $m	Working capital	78	92	178	199	409	552	388	292	253	173
	Total debt	11	15	15	27	97	115	109	—	—	—
	Net debt	(81)	(86)	(186)	(221)	(483)	(616)	(436)	(315)	(279)	(204)
	Shareholders’ equity	73	77	160	245	384	679	484	368	319	207
Returns, %
Returns, %	ROA	(41.06)	(42.88)	(41.84)	(38.09)	(37.50)	(27.48)	(34.63)	(26.56)	(39.34)	(35.89)
	ROIC	0.00	0.00	0.00	(269.85)	0.00	(215.52)	(403.97)	(223.64)	(331.39)	(2,617.38)
	ROE	(60.19)	(57.14)	(56.05)	(48.44)	(55.11)	(39.91)	(48.46)	(37.76)	(54.21)	(51.84)

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

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
BBOT BridgeBio Oncology Therapeutics, Inc	$236.5M	— (loss-making)	—	—	n/m	−88.78% (below 0%: shrinking)	—	0.00%	Compare
SABS SAB Biotherapeutics, Inc.	$235.7M	— (loss-making)	19.9×	−90.95% (below 0%: shrinking)	n/m	−59.75% (below 0%: shrinking)	100.00%	0.00%	Compare
IMRX Immuneering Corporation	$235.5M	— (loss-making)	— (loss-making)	−99.74% (below 0%: shrinking)	n/m	−74.94% (below 0%: shrinking)	0.00%	0.00%	Compare
QTTB Q32 Bio Inc.	$231.3M	2.5×	— (loss-making)	−1,928.18% (below 0%: shrinking)	n/m	+71.13% (above 0%: growing)	100.00%	0.00%	Compare
FATE Fate Therapeutics, Inc.	$230.7M	— (loss-making)	— (loss-making)	+9.18% (above 0%: growing)	n/m	+8.96% (above 0%: growing)	100.00%	(1,495.39%)
LXEO Lexeo Therapeutics, Inc.	$226.6M	— (loss-making)	— (loss-making)	—	n/m	+35.58% (above 0%: growing)	0.00%	0.00%	Compare
SLGL Sol-Gel Technologies Ltd.	$224.9M	— (loss-making)	— (loss-making)	−96.58% (below 0%: shrinking)	n/m	−8.76% (below 0%: shrinking)	100.00%	(704.23%)	Compare
GLSI Greenwich LifeSciences, Inc.	$224.9M	— (loss-making)	—	—	n/m	+13.14% (above 0%: growing)	0.00%	0.00%	Compare
KROS Keros Therapeutics, Inc.	$220.1M	— (loss-making)	— (loss-making)	−99.83% (below 0%: shrinking)	n/m	+32.19% (above 0%: growing)	100.00%	0.00%	Compare
Median of peers	$228.9M	—	—	−99.74%	—	+2.19%	100.00%	0.00%

All 614 Biotechnology stocks →

Fate Therapeutics, Inc. (FATE) key facts

Concern: Fate Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.6 million, down 51.2% from fiscal 2024.
Concern: Fate Therapeutics, Inc. reported a net loss of $136.3 million, or a loss of $1.15 per share, for fiscal 2025.
Fate Therapeutics, Inc. (FATE) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, FATE traded at $1.79, a market capitalization of $230.7 million.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 33.2× sales.
Return on equity was −51.8% and debt-to-equity 0.00.
Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −6.97 (distress zone) for fiscal 2025.