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

IO Biotech, Inc.

In the quarter to September 2025, EPS grew 63.9% and free cash flow grew 11.2%, each against the same quarter a year earlier.

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Market cap: $3.5M
P/E: 0.0×
Fwd P/E: —
Dividend yield: —
F-score: n/a
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

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

Insider Ownership 9.85%

Capital & Financial Ratios $m

Market Cap 3.45

Revenue —

Net Income (88.35)

Free Cash Flow (81.06)

Net Debt (14.00)

Current Ratio 2.01

Debt/Equity 18.29

P/E ratio 0.00

Fwd P/E —

P/S ratio 0.00

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 59.09%

Next Y EPS Growth 66.67%

Next Y revenue growth —

Next 5Y EPS Growth 41.92%

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

Valuation vs history

EV/FCF against its own 10 years 23.74%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2022	2023	2024	Q'25
Cash	143	143	60	31
Receivables	—	—	—	—
Inventory	—	—	—	—
Other	—	—	—	—
	148	147	65	37

	2022	2023	2024	Q'25
Payables	4	4	5	6
ST’ Debt	—	—	—	—
Other	—	—	—	—
	11	16	19	18

Compound Annual Growth %

	10y	5y	3y
Sales	—	—	—
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	0.00%	(39.46%)

Revenue $m

	Year

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(23)	(20)	(18)	—	—
’24	(25)	(17)	(21)	(20)	(82)
’23	(15)	(18)	(16)	(23)	(72)
’22	(21)	(13)	(13)	(13)	(60)
’21	(4)	(9)	(8)	(19)	(41)
’20	—	—	(7)	(3)	(10)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(23)	(20)	(18)	—	—
’24	(25)	(17)	(21)	(20)	(82)
’23	(15)	(18)	(16)	(23)	(72)
’22	(21)	(13)	(13)	(13)	(60)
’21	(4)	(9)	(8)	(19)	(41)
’20	—	—	(7)	(3)	(10)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.34)	(0.40)	(0.13)	—	—
’24	(0.30)	(0.31)	(0.36)	(0.48)	(1.45)
’23	(0.59)	(0.74)	(0.43)	(0.40)	(1.98)
’22	(0.60)	(0.64)	(0.56)	(0.69)	(2.48)
’21	(21.15)	(216.47)	(36.88)	247.15	(17.30)
’20	—	—	(19.68)	—	(67.96)

Fiscal quarters ending in the months shown.

Group	Line	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025e
Price, $
Price, $	Low	—	—	—	—	—	—	6.02	2.15	0.82	0.66	Analyst estimates 2025–2027 Powerpack
	High	—	—	—	—	—	—	17.88	9.77	3.30	2.10
People
People	Employees	—	—	—	—	—	19	32	57	68	80
	Revenue/emp, $m	—	—	—	—	—	0.00	0.00	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	—	—	—	—	—	—	—	—	—	—
	Gross margin, %	—	—	—	—	—	—	—	0.00	—	—
	EBT	—	—	—	—	(11)	(12)	(68)	(70)	(85)	(94)
	EBT margin, %	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
	Net income	—	—	0	—	(11)	(12)	(68)	(71)	(86)	(95)
	Depreciation	—	—	—	—	—	—	0	0	0	0
Per share, $
Per share, $	Revenue	—	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00
	Earnings	—	—	—	—	(0.43)	(67.96)	(17.30)	(2.48)	(1.98)	(1.45)
	Cash flow	—	—	—	—	(0.31)	(56.19)	(9.37)	(2.07)	(1.65)	(1.25)
	Capex	—	—	—	—	0.00	0.00	(0.04)	(0.02)	(0.01)	0.00
	Free cash flow	—	—	—	—	(0.31)	(56.19)	(9.41)	(2.10)	(1.65)	(1.25)
	Book value	—	—	—	—	(0.05)	(199.23)	48.88	4.82	3.06	0.71
	Shares, m	—	—	—	—	29	0	4	29	44	66
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	—	—	—	—	—
	P/S	—	—	—	—	—	—	—	—	—	—
	P/B	—	—	—	—	—	—	—	—	—	—
	EV/Sales	—	—	—	—	—	—	—	—	—	—
	EV/FCF	—	—	—	—	—	—	—	—	—	—
Cash, $m
Cash, $m	Operating cash flow	—	—	—	—	(9)	(10)	(41)	(60)	(72)	(82)
	Capex	—	—	—	—	—	—	0	(1)	0	0
	Free cash flow	—	—	—	—	(9)	(10)	(41)	(60)	(72)	(82)
Balance, $m
Balance, $m	Working capital	—	—	—	—	(1)	3	211	138	132	45
	Total debt	—	—	—	—	9	—	—	3	—	—
	Net debt	—	—	—	—	1	(3)	(212)	(143)	(143)	(60)
	Shareholders’ equity	—	—	—	—	(1)	(35)	212	139	133	47
Returns, %
Returns, %	ROA	—	—	—	—	(265.67)	(193.61)	(65.80)	(38.20)	(56.91)	(87.44)
	ROIC	—	—	—	—	0.00	0.00	(6,557.57)	0.00	0.00	0.00
	ROE	—	—	—	—	42.55	49.61	(84.91)	(40.74)	(63.29)	(106.00)

Negative figures in brackets.

All 10 years →

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
ERNA Ernexa Therapeutics Inc.	$3.5M	— (loss-making)	— (loss-making)	−94.12% (below 0%: shrinking)	n/m	−64.10% (below 0%: shrinking)	100.00%	0.00%	Compare
PPCB Propanc Biopharma Inc	$3.5M	— (loss-making)	—	—	−99.64% (below 0%: shrinking)	−1,637.42% (below 0%: shrinking)	—	0.00%	Compare
CVKD Cadrenal Therapeutics, Inc.	$3.5M	— (loss-making)	—	—	n/m	+26.24% (above 0%: growing)	0.00%	0.00%	Compare
IOBTQ IO Biotech, Inc.	$3.5M	— (loss-making)	—	—	n/m	+11.22% (above 0%: growing)	0.00%	0.00%
UNBX UNITY Biotechnology, Inc.	$3.4M	— (loss-making)	— (loss-making)	—	n/m	−23.10% (below 0%: shrinking)	0.00%	0.00%	Compare
LIPO Lipella Pharmaceuticals Inc.	$3.4M	— (loss-making)	— (loss-making)	−36.44% (below 0%: shrinking)	n/m	−41.79% (below 0%: shrinking)	100.00%	0.00%	Compare
PBLA Panbela Therapeutics Inc.	$3.4M	— (loss-making)	—	—	n/m	+66.23% (above 0%: growing)	—	0.00%	Compare
CMND Clearmind Medicine Inc.	$3.3M	— (loss-making)	—	—	n/m	−77.94% (below 0%: shrinking)	0.00%	0.00%	Compare
ADXN Addex Therapeutics Ltd. Sponsored ADR	$3.2M	— (loss-making)	— (loss-making)	−100.78% (below 0%: shrinking)	n/m	−2.73% (below 0%: shrinking)	100.00%	0.00%	Compare
Median of peers	$3.4M	—	—	−94.12%	—	−32.44%	50.00%	0.00%