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Friday 6 November 2026
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Mesoblast Limited
MESO Healthcare Biotechnology
Mesoblast Limited’s revenue for fiscal 2026 (year ended June 2026) was $120.3 million, up 599.2% from fiscal 2025.
14.23
0.13
+0.92%
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Analyst price targets
Free accountTen years at a glance Fiscal years to June
| Ten-year view | Analyst estimates Powerpack | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Trend | 10 yrs | 2027e | 2028e | 2029e | Next 3/yr |
| Income, $m | |||||||||||||||||
| Income, $m | Revenue | 2 | 17 | 17 | 32 | 7 | 10 | 8 | 6 | 17 | 120 | +54.4% | — | — | — | — | |
| Gross margin, % | (400.21) | 68.24 | 8.16 | 21.29 | (338.83) | (166.48) | (269.72) | 100.00 | 70.17 | 86.14 | +486.4 pt | ||||||
| EBT | (90) | (66) | (99) | (87) | (100) | (92) | (82) | (88) | (102) | (57) | (5.0%) | ||||||
| EBT margin, % | (3,740.26) | (380.47) | (590.56) | (271.66) | (1,336.24) | (896.93) | (1,094.53) | (1,493.51) | (592.00) | (47.31) | +3,693.0 pt | ||||||
| Net income | (77) | (35) | (90) | (78) | (99) | (91) | (82) | (88) | (102) | (57) | (3.2%) | ||||||
| Per share, $ | |||||||||||||||||
| Per share, $ | Revenue | 0.06 | 0.37 | 0.34 | 0.61 | 0.12 | 0.16 | 0.10 | 0.06 | 0.14 | 0.93 | +35.5% | |||||
| Earnings | (1.94) | (0.76) | (1.82) | (1.48) | (1.64) | (1.40) | (1.10) | (0.89) | (0.85) | (0.44) | (15.2%) | ||||||
| Cash flow | (2.39) | (1.61) | (1.17) | (1.07) | (1.67) | (1.01) | (0.81) | (0.49) | (0.41) | (0.34) | (19.5%) | ||||||
| Capex | (0.01) | 0.00 | (0.01) | (0.04) | (0.03) | 0.00 | 0.00 | 0.00 | (0.01) | (0.01) | (1.4%) | ||||||
| Free cash flow | (2.40) | (1.62) | (1.17) | (1.11) | (1.69) | (1.02) | (0.82) | (0.49) | (0.42) | (0.35) | (19.4%) | ||||||
| Book value | 12.95 | 11.72 | 9.73 | 10.39 | 9.61 | 7.66 | 6.45 | 4.87 | 4.95 | 4.39 | (11.3%) | ||||||
| Shares, m | 40 | 47 | 49 | 53 | 61 | 65 | 78 | 99 | 121 | 129 | +14.0% | ||||||
| Valuation, × | |||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 263.05 | 32.49 | 29.86 | 37.46 | 121.40 | 28.22 | 81.08 | 70.30 | 112.91 | 140.28 | 91.7 | ||||||
| P/B | 1.23 | 1.03 | 1.04 | 2.19 | 1.56 | 0.58 | 1.21 | 1.04 | 1.84 | 1.83 | 1.4 | ||||||
| EV/Sales | 244.08 | 33.74 | 31.71 | 36.22 | 115.68 | 31.76 | 86.07 | 75.39 | 123.70 | 139.87 | 91.8 | ||||||
| EV/FCF | (6.13) | (7.76) | (9.10) | (19.87) | (8.41) | (4.91) | (10.15) | (7.45) | (13.25) | (12.44) | (9.9) | ||||||
| Cash, $m | |||||||||||||||||
| Cash, $m | Operating cash flow | (95) | (75) | (58) | (56) | (101) | (66) | (63) | (48) | (50) | (44) | (8.3%) | |||||
| Capex | 0 | 0 | 0 | (2) | (2) | 0 | 0 | 0 | (1) | (1) | +12.5% | ||||||
| Free cash flow | (96) | (75) | (58) | (59) | (102) | (66) | (64) | (49) | (51) | (45) | (8.1%) | ||||||
| Balance, $m | |||||||||||||||||
| Balance, $m | Working capital | 27 | 77 | 18 | 46 | 54 | 18 | 40 | 13 | 102 | 116 | +17.7% | |||||
| Net debt | (46) | 22 | 31 | (40) | (43) | 36 | 37 | 51 | (40) | 16 | n/m | ||||||
| Shareholders’ equity | 517 | 546 | 481 | 549 | 581 | 497 | 502 | 480 | 597 | 568 | +1.1% | ||||||
| Returns, % | |||||||||||||||||
| Returns, % | ROA | (11.47) | (5.24) | (13.36) | (11.25) | (13.37) | (12.99) | (12.30) | (13.14) | (14.05) | (7.38) | +4.1 pt | |||||
| ROIC | (11.97) | (7.06) | (10.67) | (8.99) | (10.31) | (8.71) | (7.18) | (7.66) | (8.83) | (3.53) | +8.4 pt | ||||||
| ROE | (14.70) | (6.64) | (17.49) | (15.13) | (17.48) | (16.94) | (16.40) | (17.91) | (18.95) | (9.86) | +4.8 pt | ||||||
| People | |||||||||||||||||
| People | Employees | 75 | 81 | 83 | 102 | 83 | 77 | 83 | 73 | 81 | 108 | +4.1% | |||||
| Revenue/emp, $m | 0.03 | 0.21 | 0.20 | 0.32 | 0.09 | 0.13 | 0.09 | 0.08 | 0.21 | 1.11 | +48.3% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Jun 2026 · latest quarter Jun 2023
Mesoblast Limited 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 |
|---|---|---|---|---|---|---|---|---|---|
| TRAX First Tracks Biotherapeutics, Inc. | $1.9B | — (loss-making) | — | — | n/m | +55.91% (above 0%: growing) | — | 0.00% | Compare |
| REPL Replimune Group, Inc. | $1.9B | — (loss-making) | — | — | n/m | +42.22% (above 0%: growing) | 0.00% | 0.00% | Compare |
| HRMY Harmony Biosciences Holdings, Inc. | $1.9B | 10.7× | 9.9× | +12.30% (above 0%: growing) | −6.24% (below 0%: shrinking) | −29.42% (below 0%: shrinking) | 70.00% | 20.15% | Compare |
| SRPT Sarepta Therapeutics, Inc. | $1.9B | — (loss-making) | 6.3× | −4.51% (below 0%: shrinking) | n/m | +231.84% (above 0%: growing) | 0.00% | (2.37%) | Compare |
| VIR Vir Biotechnology, Inc. | $1.9B | — (loss-making) | — (loss-making) | −178.33% (below 0%: shrinking) | n/m | +200.47% (above 0%: growing) | 100.00% | 55,669.15% | Compare |
| MESO Mesoblast Limited | $1.8B | — (loss-making) | — | −13.41% (below 0%: shrinking) | n/m | −89.23% (below 0%: shrinking) | (353.35%) | (909.40%) | |
| TRVI Trevi Therapeutics, Inc. | $1.8B | — (loss-making) | — | — | n/m | −73.77% (below 0%: shrinking) | 0.00% | 0.00% | Compare |
| MAZE Maze Therapeutics, Inc. | $1.8B | — (loss-making) | — | — | n/m | +50.21% (above 0%: growing) | 100.00% | 0.00% | Compare |
| MRVI Maravai LifeSciences Holdings, Inc. | $1.8B | — (loss-making) | — (loss-making) | +10.14% (above 0%: growing) | n/m | +123.88% (above 0%: growing) | 35.31% | (44.97%) | Compare |
| Median of peers | $1.9B | — | — | +2.82% | — | +53.06% | 35.31% | 0.00% |