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

4D Molecular Therapeutics, Inc.

4D Molecular Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $85.2 million, up 230,194.6% from fiscal 2024. In the quarter to June 2026, revenue grew 25,106.7%, EPS fell 6.12% and free cash flow fell 61.3%, each against the same quarter a year earlier.

12.14 0.73 −5.67%

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Market cap: $711.0M
P/E: 0.0×
Fwd P/E: −2.2×
Dividend yield: —
F-score: 4/9
Altman Z: 2.50
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 5.33

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	2	—	—	1	—	—	4	1	4	3	1

Insider Ownership 28.16%

Capital & Financial Ratios $m

Market Cap 710.99

Revenue 92.01

Net Income (179.17)

Free Cash Flow (155.96)

Net Debt (341.75)

Current Ratio 8.03

Debt/Equity 0.05

P/E ratio 0.00

Fwd P/E (2.18)

P/S ratio 9.27

P/B ratio 2.09

Past 5Y EPS Growth —

This Y EPS Growth (71.53%)

Next Y EPS Growth 1.37%

Next Y revenue growth (84.44%)

Next 5Y EPS Growth (15.84%)

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 10.01%

10-year low 10-year high

P/B against its own 10 years 63.71%

10-year low 10-year high

EV/Sales against its own 10 years 18.03%

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

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	288	425	403	361
Receivables	—	—	—	5
Inventory	—	—	—	—
Other	—	—	—	—
	297	435	413	383

	2023	2024	2025	Q'26
Payables	4	4	11	13
ST’ Debt	—	—	—	—
Other	—	—	—	—
	19	29	44	48

Compound Annual Growth %

	10y	5y	3y
Sales	—	44.32%	200.86%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	14.55%	29.78%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3	4	—	—	—
’25	0	0	0	85	85
’24	0	0	0	0	0
’23	0	0	20	0	21
’22	1	0	1	1	3
’21	2	15	1	0	18
’20	4	4	7	(1)	14

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(68)	(70)	—	—	—
’25	(48)	(43)	(46)	29	(109)
’24	(29)	(30)	(29)	(46)	(135)
’23	(28)	(22)	(1)	(25)	(76)
’22	(24)	(20)	(21)	(22)	(87)
’21	(15)	(16)	(16)	(22)	(69)
’20	(14)	(6)	(13)	(17)	(51)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(68)	(70)	—	—	—
’25	(48)	(43)	(46)	29	(110)
’24	(30)	(31)	(31)	(47)	(138)
’23	(29)	(23)	(2)	(25)	(79)
’22	(30)	(22)	(23)	(23)	(98)
’21	(16)	(17)	(18)	(27)	(78)
’20	(15)	(6)	(13)	(18)	(52)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(1.01)	(1.04)	—	—	—
’25	(0.86)	(0.98)	(1.01)	0.43	(2.42)
’24	(0.66)	(0.63)	(0.79)	(0.90)	(2.98)
’23	(0.88)	(0.77)	(0.24)	(0.77)	(2.58)
’22	(0.82)	(0.87)	(0.79)	(0.84)	(3.32)
’21	(0.61)	(0.28)	(0.82)	(0.85)	(2.57)
’20	(2.54)	(2.92)	(1.51)	(1.85)	(8.82)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	36.10	18.57	5.32	9.44	5.22	2.24	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	49.06	55.11	26.49	24.10	36.25	12.34
People
People	Employees	—	—	—	—	83	124	140	147	227	196
	Revenue/emp, $m	—	0.00	0.00	0.00	0.16	0.15	0.02	0.14	0.00	0.43
Income, $m
Income, $m	Revenue	—	6	14	7	14	18	3	21	0	85
	Gross margin, %	—	0.00	0.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	—	(11)	(10)	(49)	(57)	(71)	(107)	(101)	(161)	(140)
	EBT margin, %	—	(193.83)	(67.59)	(705.78)	(416.49)	(395.37)	(3,435.41)	(486.59)	(434,778.38)	(164.43)
	Net income	—	0	(10)	(49)	(57)	(71)	(107)	(101)	(161)	(140)
	Depreciation	—	1	1	1	1	2	3	3	(3)	0
Per share, $
Per share, $	Revenue	—	0.23	0.57	1.36	2.12	0.65	0.10	0.53	0.00	1.47
	Earnings	—	(0.45)	(0.38)	(9.59)	(8.82)	(2.57)	(3.32)	(2.58)	(2.98)	(2.42)
	Cash flow	—	0.33	(0.65)	(7.14)	(7.92)	(2.49)	(2.68)	(1.94)	(2.49)	(1.88)
	Capex	—	0.00	0.00	(0.62)	(0.16)	(0.33)	(0.36)	(0.07)	(0.07)	(0.01)
	Free cash flow	—	0.33	(0.65)	(7.76)	(8.07)	(2.82)	(3.04)	(2.01)	(2.57)	(1.89)
	Book value	—	(0.04)	3.03	(14.19)	39.87	11.51	7.15	7.87	9.47	8.73
	Shares, m	—	25	25	5	6	28	32	39	54	58
Valuation, ×
Valuation, ×	P/E	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	P/S	—	12.67	12.67	12.67	19.58	33.73	213.40	40.13	8,120.76	5.10
	P/B	—	0.00	0.00	0.00	1.04	1.91	2.89	2.70	0.59	0.86
	EV/Sales	—	9.68	9.68	9.68	(0.75)	20.84	149.45	26.80	(3,037.24)	0.51
	EV/FCF	—	(2.18)	(2.18)	(2.18)	0.20	(4.80)	(4.76)	(7.07)	0.81	(0.40)
Cash, $m
Cash, $m	Operating cash flow	—	8	(16)	(37)	(51)	(69)	(87)	(76)	(135)	(109)
	Capex	—	(1)	0	(3)	(1)	(9)	(12)	(3)	(4)	(1)
	Free cash flow	—	8	(16)	(40)	(52)	(78)	(98)	(79)	(138)	(110)
Balance, $m
Balance, $m	Working capital	—	19	86	40	266	240	205	278	406	369
	Total debt	—	—	—	—	—	16	16	—	—	—
	Net debt	—	(24)	(92)	(50)	(277)	(248)	(214)	(288)	(425)	(403)
	Shareholders’ equity	—	(1)	75	(73)	256	319	231	308	511	506
Returns, %
Returns, %	ROA	—	(18.06)	(19.70)	(63.54)	(32.72)	(22.22)	(34.94)	(33.52)	(35.74)	(24.86)
	ROIC	—	0.00	0.00	0.00	0.00	(62.50)	(386.72)	(359.96)	(136.94)	(96.80)
	ROE	—	47.58	40.49	98.07	(61.82)	(24.78)	(39.06)	(37.40)	(39.31)	(27.57)

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
SANA Sana Biotechnology, Inc.	$740.9M	— (loss-making)	—	—	n/m	−5.46% (below 0%: shrinking)	0.00%	0.00%	Compare
IVA Inventiva S.A. Sponsored ADR	$740.0M	— (loss-making)	— (loss-making)	−10.77% (below 0%: shrinking)	n/m	−20,989.22% (below 0%: shrinking)	0.00%	0.00%	Compare
LXRX Lexicon Pharmaceuticals, Inc.	$734.2M	— (loss-making)	— (loss-making)	−97.60% (below 0%: shrinking)	n/m	−154.09% (below 0%: shrinking)	94.36%	(3,835.26%)	Compare
IMMX Immix Biopharma, Inc.	$719.6M	— (loss-making)	—	—	n/m	−116.22% (below 0%: shrinking)	—	0.00%	Compare
ACHV Achieve Life Sciences, Inc.	$717.2M	— (loss-making)	—	+54.44% (above 0%: growing)	n/m	−19.01% (below 0%: shrinking)	0.00%	0.00%	Compare
FDMT 4D Molecular Therapeutics, Inc.	$711.0M	— (loss-making)	— (loss-making)	+25,106.67% (above 0%: growing)	n/m	−61.28% (below 0%: shrinking)	100.00%	(2,037.16%)
ANL Adlai Nortye Ltd. Sponsored ADR	$710.1M	—	—	—	—	+46.03% (above 0%: growing)	—	—	Compare
OABI OmniAb, Inc.	$687.7M	— (loss-making)	— (loss-making)	+244.24% (above 0%: growing)	n/m	+211.16% (above 0%: growing)	95.45%	(49.47%)	Compare
ANNX Annexon, Inc.	$682.5M	— (loss-making)	—	—	n/m	−26.41% (below 0%: shrinking)	0.00%	0.00%	Compare
Median of peers	$718.4M	—	—	+21.84%	—	−22.71%	0.00%	0.00%

All 614 Biotechnology stocks →

4D Molecular Therapeutics, Inc. (FDMT) key facts

Strength: 4D Molecular Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $85.2 million, up 230,194.6% from fiscal 2024.
4D Molecular Therapeutics, Inc. (FDMT) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, FDMT traded at $12.14, a market capitalization of $711.0 million.
Return on equity was −27.6% and debt-to-equity 0.05.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is 2.50 (grey zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.