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

HCW Biologics Inc.

HCW Biologics Inc.’s revenue for fiscal 2025 (year ended December 2025) was $54,200.00, down 97.9% from fiscal 2024. In the quarter to June 2026, revenue grew 1,954.6%, EPS grew 71.6%, free cash flow fell 20.8% and total debt fell 3.34%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

1.24 0.01 +0.81%

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Market cap: $2.8M
P/E: 0.0×
Fwd P/E: −3.4×
Dividend yield: —
F-score: 3/9
Altman Z: −8.83
Beneish M: −9.28
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Dec '17	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	Dec '24	Dec '25
Piotroski F-Score Full definition →	—	—	—	—	—	—	3	3
P/E ratio Full definition →	—	—	0.00	—	0.00	0.00	0.00	0.00
Altman Z-Score Full definition →	—	—	—	—	2.91	(4.68)	(8.45)	(8.83)
P/S ratio Full definition →	—	—	0.00	—	10.45	15.17	6.74	37.55
Altman Z″-Score (non-manufacturers) Full definition →	—	—	(1.88)	—	3.21	(13.72)	(22.77)	(22.93)
P/FCF ratio Full definition →	—	—	0.00	—	0.00	0.00	0.00	0.00
Beneish M-Score Full definition →	—	—	—	—	—	3.67	(6.27)	(9.28)
P/Operating CF Full definition →	—	—	(31.30)	—	(18.53)	(11.07)	(6.11)	(0.61)
P/B ratio Full definition →	—	—	0.00	—	1.88	3.20	0.00	0.74
Price to Tangible BV Full definition →	—	—	0.00	—	1.88	3.20	0.00	0.74
EV/Sales Full definition →	—	—	0.00	—	6.63	16.18	10.26	133.75
EV/EBITDA Full definition →	—	—	0.00	—	0.00	0.00	0.00	0.00
EV/Operating CF Full definition →	—	—	(2.96)	—	(4.29)	(2.04)	(1.85)	(0.54)
EV/FCF Full definition →	—	—	(2.90)	—	(2.16)	(1.60)	(1.82)	(0.53)
Quick Ratio Full definition →	—	6.90	10.94	15.87	10.99	0.59	0.18	0.09
Current Ratio Full definition →	—	7.53	12.14	17.44	11.52	0.73	0.19	0.11
Net Debt/EBITDA Full definition →	—	1.06	1.50	2.86	1.79	(0.11)	(0.32)	(0.40)
Debt/Assets Full definition →	0.00%	0.00%	3.68%	0.00%	13.69%	22.11%	45.28%	27.77%
Debt/Equity Full definition →	—	0.00	(0.03)	0.00	0.17	0.47	(2.02)	2.46
Asset Turnover Full definition →	—	0.00	0.32	0.00	0.13	0.08	0.09	0.00
Operating CF/Net income Full definition →	—	0.87	1.47	0.85	0.70	0.90	0.47	0.60
Capex/Depreciation Full definition →	—	0.00	(0.33)	(0.09)	(14.31)	(5.46)	(0.22)	0.00
Interest Coverage Full definition →	—	(203.46)	(261.19)	—	(119.01)	(90.87)	(45.02)	(15.58)
ROE Full definition →	—	58.97%	53.60%	(74.62%)	(33.63%)	(98.23%)	(897.37%)	1,113.43%
ROA Full definition →	—	(154.63%)	(55.56%)	(37.33%)	(29.71%)	(66.37%)	(102.21%)	(81.45%)
ROIC Full definition →	—	0.00%	0.00%	(57.70%)	(80.03%)	(99.40%)	(819.04%)	(107.94%)
Return on Tangible Assets Full definition →	—	(86.80%)	(55.43%)	(32.75%)	(35.55%)	(138.02%)	2,942.07%	(1,060.53%)
Average Days of Receivables Full definition →	—	—	222.57	0.00	22.68	197.26	82.79	216.85
Research and Development Expense of Revenue Full definition →	—	0.00%	176.96%	0.00%	138.92%	270.12%	248.91%	10,042.25%
Selling, General and Administrative Expense of Revenue Full definition →	—	0.00%	65.10%	0.00%	123.87%	238.56%	265.56%	14,209.04%
Intangible Assets out of Total Assets Full definition →	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →	—	—	0.53%	0.00%	16.66%	35.32%	39.31%	1,418.08%
Graham Net Nets Full definition →	—	—	(0.85)	—	0.35	(0.20)	(1.81)	(9.55)
Graham Number Full definition →	—	—	3,057.84	—	0.00	0.00	363.65	0.00
Earnings Yield Full definition →	—	—	(38.19%)	—	(21.38%)	(58.32%)	(131.14%)	(1,214.07%)
Free Cash Flow Yield Full definition →	—	—	(28.82%)	—	(29.42%)	(66.61%)	(83.71%)	(669.68%)
Revenue per Share Full definition →	—	0.00	208.11	0.00	45.02	18.98	15.87	0.16
Operating CF per Share Full definition →	—	(0.18)	(529.51)	(140.35)	(69.57)	(150.39)	(87.99)	(38.29)
Capex per Share Full definition →	—	0.00	(9.48)	(0.60)	(68.82)	(41.43)	(1.62)	0.00
Free Cash Flow per Share Full definition →	—	(0.18)	(538.98)	(140.96)	(138.39)	(191.83)	(89.60)	(38.29)
Cash per Share Full definition →	—	0.20	429.23	469.49	214.75	24.02	28.91	5.58
Shareholders Equity per Share Full definition →	—	0.25	(848.65)	654.64	250.69	89.92	(41.87)	7.91
Interest Debt per Share Full definition →	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Book value per Share Full definition →	—	0.25	(848.65)	654.64	250.69	89.92	(41.87)	7.91
Free Cash Flow Full definition →	—	(6.77)	(10.62)	(11.02)	(20.66)	(28.72)	(14.49)	(13.39)
Working Capital Full definition →	—	6.96	11.15	38.16	31.11	(2.34)	(23.93)	(18.78)
Capital Expenditures Full definition →	—	(1.46)	(0.19)	(0.05)	(10.28)	(6.20)	(0.26)	—
Net Current Asset Value Full definition →	—	6.96	(19.97)	38.16	24.69	(8.65)	(31.31)	(19.47)
EV/EBIT Full definition →	—	—	0.00	—	0.00	0.00	0.00	0.00
Capex to Sales Full definition →	—	—	0.05	0.00	1.53	2.18	0.10	0.00
Price to Operating Income Full definition →	—	—	0.00	—	0.00	0.00	0.00	0.00
Other line items
Depreciation/Fixed assets Full definition →	—	0.21	0.35	0.49	0.07	0.06	0.05	0.05
Cash ROIC Full definition →	—	(41.36%)	137.98%	(12.54%)	(27.22%)	(122.93%)	(124.94%)	(116.18%)
Accounts Receivable Turnover Full definition →	—	—	3.11	0.00	24.41	2.91	2.42	0.18
Accounts Payable Turnover Full definition →	—	1.54	0.00	2.87	5.70	0.62	0.11	0.00
Inventory Turnover Full definition →	—	0.00	—	0.00	0.00	0.00	0.00	0.00
Average Days of Payables Full definition →	—	339.47	0.00	150.20	108.22	986.69	5,071.10	110,537.81
Days of Inventory on Hand Full definition →	—	0.00	—	0.00	0.00	0.00	0.00	0.00
Average Receivables Full definition →	—	—	1.32	1.32	0.28	0.98	1.06	0.31
Average Payables Full definition →	—	0.27	0.27	0.19	0.72	3.70	14.25	17.74
Average Assets Full definition →	—	5.03	12.73	34.46	50.16	37.66	29.38	27.38
Average Common Equity Full definition →	—	(13.20)	(13.20)	17.24	44.31	25.45	3.35	(2.00)

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Columns are period end dates

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