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

Phathom Pharmaceuticals, Inc.

Phathom Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $175.1 million, up 216.9% from fiscal 2024. In the quarter to June 2026, revenue grew 88.0%, EPS grew 80.0%, free cash flow grew 96.9% and total debt fell 19.8%, each against the same quarter a year earlier.

6.92 0.58 −7.73%

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Market cap: $606.8M
P/E: 0.0×
Fwd P/E: −15.9×
Dividend yield: —
F-score: 4/9
Altman Z: −7.89
Beneish M: −1.39
Dividend safety: n/a

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

Insider Decisions trades per month

Total sells 0.01

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	1	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 38.83%

Capital & Financial Ratios $m

Market Cap 606.76

Revenue 239.66

Net Income (99.07)

Free Cash Flow (36.91)

Net Debt (17.89)

Current Ratio 1.92

Debt/Equity (0.48)

P/E ratio 0.00

Fwd P/E (15.90)

P/S ratio 2.42

P/B ratio 0.00

Past 5Y EPS Growth —

This Y EPS Growth 76.56%

Next Y EPS Growth 209.80%

Next Y revenue growth 80.57%

Next 5Y EPS Growth 22.16%

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

Valuation vs history

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2025	Powerpack
2024	Powerpack
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2018	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	381	297	130	182
Receivables	2	39	78	97
Inventory	1	3	6	8
Other	—	—	—	—
	397	360	229	296

	2023	2024	2025	Q'26
Payables	13	11	5	5
ST’ Debt	—	—	—	—
Other	7	20	35	37
	39	86	132	154

Compound Annual Growth %

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

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	58	74	—	—	—
’25	29	40	50	58	175
’24	2	7	16	30	55

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(16)	(2)	—	—	—
’25	(85)	(63)	(14)	(5)	(167)
’24	(69)	(71)	(64)	(63)	(267)
’23	(40)	(22)	(32)	(44)	(138)
’22	(45)	(26)	(35)	(41)	(147)
’21	(50)	(28)	(29)	(41)	(148)
’20	(11)	(9)	(21)	(28)	(70)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(16)	(2)	—	—	—
’25	(85)	(63)	(14)	(5)	(167)
’24	(69)	(71)	(64)	(63)	(267)
’23	(40)	(22)	(33)	(44)	(139)
’22	(45)	(26)	(35)	(41)	(148)
’21	(50)	(28)	(29)	(41)	(149)
’20	(12)	(9)	(21)	(28)	(71)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.37)	(0.21)	—	—	—
’25	(1.31)	(1.05)	(0.41)	(0.29)	(3.03)
’24	(1.42)	(1.56)	(1.32)	(1.05)	(5.29)
’23	(0.89)	(0.84)	(0.76)	(1.39)	(3.93)
’22	(1.07)	(1.33)	(1.32)	(1.33)	(5.05)
’21	(0.96)	(1.00)	(0.98)	(0.95)	(3.89)
’20	(0.62)	(0.64)	(1.02)	(1.58)	(3.88)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	18.51	22.06	17.42	6.10	5.84	6.07	2.21	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	47.84	64.54	50.78	20.30	17.02	19.71	18.31
People
People	Employees	—	—	16	25	55	77	112	452	427	371
	Revenue/emp, $m	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.13	0.47
Income, $m
Income, $m	Revenue	—	—	—	—	—	—	—	1	55	175
	Gross margin, %	—	—	—	0.00	0.00	0.00	0.00	75.51	85.57	87.09
	EBT	—	—	(1)	(255)	(129)	(144)	(198)	(202)	(334)	(221)
	EBT margin, %	—	—	0.00	0.00	0.00	0.00	0.00	(29,558.94)	(605.09)	(126.35)
	Net income	—	0	(1)	(255)	(129)	(144)	(198)	(202)	(334)	(221)
	Depreciation	—	—	—	0	2	4	3	2	3	4
Per share, $
Per share, $	Revenue	—	—	0.00	0.00	0.00	0.00	0.00	0.01	0.87	2.40
	Earnings	—	—	(0.21)	(22.45)	(3.88)	(3.89)	(5.05)	(3.93)	(5.29)	(3.03)
	Cash flow	—	—	(0.17)	(3.21)	(2.10)	(4.01)	(3.75)	(2.68)	(4.22)	(2.29)
	Capex	—	—	0.00	(2.22)	(0.03)	(0.01)	(0.03)	(0.03)	0.00	0.00
	Free cash flow	—	—	(0.17)	(5.43)	(2.13)	(4.02)	(3.77)	(2.71)	(4.22)	(2.29)
	Book value	—	—	(0.21)	20.05	5.85	1.95	(1.91)	(1.42)	(4.01)	(6.01)
	Shares, m	—	—	6	11	33	37	39	51	63	73
Valuation, ×
Valuation, ×	P/E	—	—	—	—	—	—	—	0.00	0.00	0.00
	P/S	—	—	—	—	—	—	—	0.00	9.28	6.91
	P/B	—	—	—	—	—	—	—	0.00	0.00	0.00
	EV/Sales	—	—	—	—	—	—	—	0.00	7.74	7.42
	EV/FCF	—	—	—	—	—	—	—	(1.70)	(1.60)	(7.78)
Cash, $m
Cash, $m	Operating cash flow	—	—	(1)	(37)	(70)	(148)	(147)	(138)	(267)	(167)
	Capex	—	—	—	(25)	(1)	0	(1)	(2)	0	0
	Free cash flow	—	—	(1)	(62)	(71)	(149)	(148)	(139)	(267)	(167)
Balance, $m
Balance, $m	Working capital	—	—	(1)	252	236	168	134	359	274	97
	Total debt	—	—	2	23	47	90	95	138	201	209
	Net debt	—	—	1	(221)	(241)	(94)	(60)	(244)	(96)	79
	Shareholders’ equity	—	—	(1)	228	194	72	(75)	(73)	(254)	(438)
Returns, %
Returns, %	ROA	—	—	(285.59)	(197.71)	(46.74)	(59.39)	(111.63)	(69.68)	(84.41)	(69.41)
	ROIC	—	—	0.00	(931.32)	0.00	0.00	0.00	0.00	0.00	0.00
	ROE	—	—	(1.14)	(225.11)	(61.14)	(108.01)	14,877.58	273.21	204.89	63.97

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

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
WVE WAVE Life Sciences Ltd.	$628.6M	— (loss-making)	— (loss-making)	−73.88% (below 0%: shrinking)	n/m	−17.59% (below 0%: shrinking)	100.00%	(3,248.33%)	Compare
CLYM Climb Bio, Inc.	$626.6M	— (loss-making)	—	—	n/m	+3.73% (above 0%: growing)	—	0.00%	Compare
NVCT Nuvectis Pharma, Inc.	$618.0M	— (loss-making)	—	—	n/m	−34.57% (below 0%: shrinking)	—	0.00%	Compare
SLDB Solid Biosciences Inc.	$615.5M	— (loss-making)	— (loss-making)	−100.00% (below 0%: shrinking)	n/m	−39.56% (below 0%: shrinking)	0.00%	0.00%	Compare
ZVRA Zevra Therapeutics, Inc.	$609.9M	10.5×	10.5×	+53.25% (above 0%: growing)	−88.71% (below 0%: shrinking)	+670.87% (above 0%: growing)	96.16%	42.30%	Compare
PHAT Phathom Pharmaceuticals, Inc.	$606.8M	— (loss-making)	— (loss-making)	+88.02% (above 0%: growing)	n/m	+96.86% (above 0%: growing)	79.68%	(5.34%)
OLMA Olema Pharmaceuticals, Inc.	$601.1M	— (loss-making)	—	—	n/m	−54.33% (below 0%: shrinking)	0.00%	0.00%	Compare
CRMD CorMedix Inc	$581.5M	3.0×	16.5×	+156.52% (above 0%: growing)	+13.79% (above 0%: growing)	+185.90% (above 0%: growing)	75.66%	42.10%	Compare
SLN Silence Therapeutics PLC Sponsored ADR	$581.1M	— (loss-making)	— (loss-making)	+197.18% (above 0%: growing)	n/m	+106.95% (above 0%: growing)	97.39%	0.00%	Compare
Median of peers	$612.7M	—	—	+53.25%	—	−6.93%	85.91%	0.00%

All 614 Biotechnology stocks →

Phathom Pharmaceuticals, Inc. (PHAT) key facts

Strength: Phathom Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $175.1 million, up 216.9% from fiscal 2024.
Phathom Pharmaceuticals, Inc. (PHAT) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, PHAT traded at $6.92, a market capitalization of $606.8 million.
Return on equity was 64.0% and debt-to-equity -0.48.
Its Piotroski F-score is 4 out of 9 and its Altman Z-score is −7.89 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.