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Saturday 7 November 2026
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HCW Biologics Inc.
HCWB Healthcare Biotechnology
HCW Biologics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $54,200.00, down 97.9% from fiscal 2024.
- Revenue
- +1,954.6%
- EPS
- +71.6%
- Free cash flow
- −20.8%
- Total debt
- −3.34%
Quarter to June 2026, against a year earlier
1.02
0.02
−1.92%
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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 | — | — | — | — | 4 | — | 7 | 3 | 3 | 0 | 7 | (57.9%) | 7 | 7 | 7 | +397.6% | |
| Gross margin, % | — | — | — | 0.00 | 100.00 | 0.00 | 38.48 | 19.72 | 37.38 | 19.93 | 95.91 | +19.9 pt | ||||||
| EBT | — | — | — | (7) | (6) | (13) | (15) | (25) | (30) | (8) | (5) | +1.5% | ||||||
| EBT margin, % | — | — | — | 0.00 | (141.52) | 0.00 | (221.67) | (879.52) | (1,169.70) | (14,685.79) | (78.13) | (14,685.8) pt | ||||||
| Net income | — | 0 | — | (7) | (6) | (13) | (15) | (25) | (30) | (8) | (6) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 0.00 | 208.11 | 0.00 | 45.02 | 18.98 | 15.87 | 0.16 | 5.06 | n/m | |||||
| Earnings | — | — | — | (0.21) | (358.22) | (165.57) | (100.78) | (167.97) | (184.76) | (63.77) | (28.43) | +159.3% | ||||||
| Cash flow | — | — | — | (0.18) | (529.51) | (140.35) | (69.57) | (150.39) | (87.99) | (38.29) | (9.14) | +143.4% | ||||||
| Capex | — | — | — | 0.00 | (9.48) | (0.60) | (68.82) | (41.43) | (1.62) | 0.00 | 0.00 | n/m | ||||||
| Free cash flow | — | — | — | (0.18) | (538.98) | (140.96) | (138.39) | (191.83) | (89.60) | (38.29) | (9.14) | +143.4% | ||||||
| Book value | — | — | — | 0.25 | (848.65) | 654.64 | 250.69 | 89.92 | (41.87) | 7.91 | 5.59 | +78.4% | ||||||
| Shares, m | — | — | — | 37 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | (54.0%) | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | 0.00 | — | 10.45 | 15.17 | 6.74 | 37.48 | 0.20 | 14.0 | ||||||
| P/B | — | — | — | — | 0.00 | — | 1.88 | 3.20 | 0.00 | 0.74 | 0.18 | 1.2 | ||||||
| EV/Sales | — | — | — | — | 0.00 | — | 6.63 | 16.18 | 10.26 | 133.69 | 1.12 | 33.4 | ||||||
| EV/FCF | — | — | — | — | (2.90) | — | (2.16) | (1.60) | (1.82) | (0.53) | (0.61) | (1.8) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | (7) | (10) | (11) | (10) | (23) | (14) | (13) | (12) | +12.1% | |||||
| Capex | — | — | — | (1) | 0 | 0 | (10) | (6) | 0 | — | 0 | (29.1%) | ||||||
| Free cash flow | — | — | — | (7) | (11) | (11) | (21) | (29) | (14) | (13) | (12) | +12.1% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | 7 | 11 | 38 | 31 | (2) | (24) | (19) | (18) | n/m | |||||
| Net debt | — | — | — | (7) | (8) | (37) | (26) | 3 | 9 | 5 | 6 | n/m | ||||||
| Shareholders’ equity | — | — | — | 9 | (17) | 51 | 37 | 13 | (7) | 3 | 7 | (17.9%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | (154.63) | (55.56) | (37.33) | (29.71) | (66.37) | (102.21) | (81.45) | (79.52) | +73.2 pt | |||||
| ROIC | — | — | — | 0.00 | 0.00 | (57.70) | (80.03) | (99.40) | (819.04) | (107.94) | (36.15) | (107.9) pt | ||||||
| ROE | — | — | — | 58.97 | 53.60 | (74.62) | (33.63) | (98.23) | (897.37) | 1,113.43 | (600.32) | +1,054.5 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | 44 | 44 | 45 | 36 | 35 | — | (5.6%) | |||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 0.00 | 0.15 | 0.06 | 0.07 | 0.00 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
HCW Biologics 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 |
|---|---|---|---|---|---|---|---|---|---|
| EOCN Eocene Ltd. | $2.6M | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | −67.74% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| BIORQ Biora Therapeutics, Inc. | $2.5M | — (loss-making) | — (loss-making) | +1,500.00% (above 0%: growing) | n/m | +20.72% (above 0%: growing) | 100.00% | (50,709.38%) | Compare |
| CLDI Calidi Biotherapeutics, Inc. | $2.5M | — (loss-making) | — | — | n/m | +11.16% (above 0%: growing) | — | 0.00% | Compare |
| WINT Windtree Therapeutics, Inc. | $2.4M | — (loss-making) | — (loss-making) | −100.00% (below 0%: shrinking) | n/m | +1.12% (above 0%: growing) | 0.00% | 0.00% | Compare |
| VIVS VivoSim Labs, Inc. | $2.3M | — (loss-making) | — (loss-making) | −51.35% (below 0%: shrinking) | n/m | +17.87% (above 0%: growing) | 100.00% | (15,327.78%) | Compare |
| HCWB HCW Biologics Inc. | $2.3M | — (loss-making) | — (loss-making) | +1,954.55% (above 0%: growing) | n/m | −20.84% (below 0%: shrinking) | (69.25%) | (2,335.03%) | |
| APVO Aptevo Therapeutics Inc. | $2.3M | — (loss-making) | — (loss-making) | +28.62% (above 0%: growing) | n/m | +23.11% (above 0%: growing) | 0.00% | 0.00% | Compare |
| SLXN Silexion Therapeutics Corp | $2.2M | — (loss-making) | — | — | n/m | −16.63% (below 0%: shrinking) | — | 0.00% | Compare |
| BRTX Biorestorative Therapies, Inc. | $2.1M | — (loss-making) | — (loss-making) | −7.20% (below 0%: shrinking) | n/m | −35.26% (below 0%: shrinking) | 68.10% | (14,593.53%) | Compare |
| Median of peers | $2.3M | — | — | −29.27% | — | +6.14% | 34.05% | 0.00% |