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Saturday 7 November 2026
Export FHTX’s income statement to Excel — free account
Foghorn Therapeutics Inc.
FHTX Healthcare Biotechnology
Foghorn Therapeutics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $30.9 million, up 36.8% from fiscal 2024.
- Revenue
- +112.7%
- EPS
- +64.3%
- Free cash flow
- +14.9%
Quarter to June 2026, against a year earlier
1.87
0.04
−2.09%
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Target Price Range
Analyst price targets
Free accountTen 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 | — | — | — | — | 0 | 1 | 19 | 34 | 23 | 31 | 37 | +135.1% | 29 | 6 | 7 | (38.7%) | |
| Gross margin, % | — | — | 0.00 | 0.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | 100.00 | +100.0 pt | ||||||
| EBT | — | — | (26) | (51) | (69) | (101) | (109) | (94) | (87) | (74) | (65) | +16.0% | ||||||
| EBT margin, % | — | — | 0.00 | 0.00 | (16,000.00) | (7,681.58) | (566.27) | (275.80) | (383.24) | (240.33) | (175.78) | (240.3) pt | ||||||
| Net income | — | 0 | (26) | (51) | (69) | (101) | (109) | (98) | (87) | (74) | (65) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | 0.00 | 0.00 | 0.04 | 0.04 | 0.46 | 0.81 | 0.41 | 0.49 | 0.52 | n/m | |||||
| Earnings | — | — | (0.72) | (12.20) | (6.23) | (2.73) | (2.62) | (2.34) | (1.58) | (1.18) | (0.98) | +7.3% | ||||||
| Cash flow | — | — | (0.62) | (11.05) | (2.83) | (1.35) | 4.66 | (2.81) | (1.83) | (1.37) | (1.19) | +12.1% | ||||||
| Capex | — | — | 0.00 | (0.23) | (1.44) | (0.09) | (0.03) | (0.03) | (0.02) | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | — | (0.62) | (11.28) | (4.27) | (1.44) | 4.63 | (2.84) | (1.85) | (1.37) | (1.19) | +12.1% | ||||||
| Book value | — | — | (1.07) | (0.35) | 13.23 | 2.61 | 0.00 | (1.84) | (0.83) | (1.72) | (1.15) | +7.1% | ||||||
| Shares, m | — | — | 37 | 4 | 11 | 37 | 42 | 42 | 55 | 63 | 67 | +8.0% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | 0.00 | 644.51 | 14.06 | 7.93 | 11.46 | 11.00 | 3.60 | 114.8 | ||||||
| P/B | — | — | — | — | 1.53 | 8.78 | 2,413.79 | 0.00 | 0.00 | 0.00 | 0.00 | 404.0 | ||||||
| EV/Sales | — | — | — | — | 0.00 | 542.63 | (2.89) | 1.66 | 1.56 | 6.47 | (0.42) | 91.6 | ||||||
| EV/FCF | — | — | — | — | (1.22) | (13.36) | (0.29) | (0.47) | (0.35) | (2.32) | 0.18 | (3.0) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | (23) | (46) | (31) | (50) | 194 | (118) | (100) | (86) | (84) | +21.0% | |||||
| Capex | — | — | (2) | (1) | (16) | (3) | (1) | (1) | (1) | 0 | 0 | (38.7%) | ||||||
| Free cash flow | — | — | (23) | (47) | (47) | (54) | 192 | (119) | (101) | (86) | (84) | +21.0% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | 37 | 4 | 172 | 411 | 296 | 182 | 183 | 103 | 119 | +15.9% | |||||
| Net debt | — | — | 38 | (5) | (166) | (154) | (346) | (234) | (244) | (160) | (168) | n/m | ||||||
| Shareholders’ equity | — | — | (39) | (1) | 146 | 97 | 0 | (77) | (46) | (108) | (81) | +15.6% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | (122.33) | (156.35) | (49.51) | (26.13) | (23.55) | (28.50) | (30.40) | (30.82) | (30.06) | +91.5 pt | |||||
| ROIC | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | 41.38 | 80.33 | (236.54) | (83.37) | (224.54) | 255.39 | 141.17 | 96.45 | 81.90 | +55.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | 85 | 95 | 119 | 161 | 116 | 112 | 106 | — | +3.7% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.00 | 0.01 | 0.12 | 0.29 | 0.20 | 0.29 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026
Foghorn 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 |
|---|---|---|---|---|---|---|---|---|---|
| CHRS Coherus Oncology, Inc. | $115.7M | — (loss-making) | — (loss-making) | +39.53% (above 0%: growing) | n/m | −33.15% (below 0%: shrinking) | 70.35% | (225.98%) | Compare |
| PYPD PolyPid Ltd. | $115.2M | — (loss-making) | — | — | n/m | −64.96% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| FHTX Foghorn Therapeutics Inc. | $113.1M | — (loss-making) | — (loss-making) | +112.68% (above 0%: growing) | n/m | +14.88% (above 0%: growing) | 100.00% | (54.78%) | |
| ENGN enGene Therapeutics Inc | $112.6M | — (loss-making) | — | — | n/m | +28.07% (above 0%: growing) | — | 0.00% | Compare |
| NKTX Nkarta, Inc. | $112.5M | — (loss-making) | — | — | n/m | −29.19% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| CDXS Codexis, Inc. | $111.7M | — (loss-making) | — (loss-making) | −2.69% (below 0%: shrinking) | n/m | +48.60% (above 0%: growing) | 76.45% | (75.29%) | Compare |
| ARMP Armata Pharmaceuticals, Inc. | $111.5M | — (loss-making) | — (loss-making) | +15.72% (above 0%: growing) | n/m | −17.98% (below 0%: shrinking) | 100.00% | (410.84%) | Compare |
| HUMA Humacyte, Inc. | $109.9M | — (loss-making) | — (loss-making) | +34.88% (above 0%: growing) | n/m | +17.85% (above 0%: growing) | (203.20%) | (6,649.26%) | Compare |
| NERV Minerva Neurosciences, Inc | $109.8M | — (loss-making) | — (loss-making) | — | n/m | −553.48% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| Median of peers | $112.1M | — | — | +25.30% | — | −23.58% | 0.00% | (37.64%) |
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 2.36m | 3.07m | 83.72 |
| 2024 | 1.56m | 2.38m | 73.18 |
Ownership
Directors and executive officers, together
9.02%
Funds affiliated with Flagship Pioneering, Inc.
27.14%
Entities affiliated with Fidelity Investments
10.96%
Entities affiliated with Biotechnology Value Fund
10.33%
Eli Lilly and Company
6.81%
Deerfield Partners LP
6.27%
Cigall Kadoch, Ph.D.
6.22%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
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