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Pulmatrix, Inc.

PULM Healthcare Biotechnology

Pulmatrix, Inc.’s revenue for fiscal 2024 (year ended December 2024) was $7.8 million, up 6.96% from fiscal 2023.

Revenue
−99.9%
EPS
+31.0%
Free cash flow
+41.3%

Quarter to June 2026, against a year earlier

1.39 0.01 −0.71%
Market cap
$5.1M
P/E
0.0×
Fwd P/E
−0.3×
Dividend yield
—
F-score
4/9
Altman Z
−27.85
Beneish M
n/a
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 0.05%

Capital & Financial Ratios $m

Size
Market Cap 5.11
Revenue ttm 7.81
Net income ttm (4.01)
Free cash flow ttm (3.91)
Net debt Q (2.87)
Valuation
P/E 0.00
Forward P/E (0.34) (negative: loss-making)
Price / sales 0.65
Forward P/S Powerpack
Price / FCF 0.00
Price / book 3.19
Financial health
Current ratio Q 4.70 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q (18.15)
Growth
Revenue growth Q −99.86% (below 0%: shrinking)
Operating income growth Q +32.43% (above 0%: growing)
EPS, this year −16.28% (below 0%: weak)
EPS, next year A −3.69% (below 0%: weak)
Revenue, next year A −10.26% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A —

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.8×, against a ten-year median of 1.0×; over the ten years it ranged from −6.3× in 2022 to 74.7× in 2017.
P/S against its own 10 years 4.77%
10-year low 10-year high
P/B against its own 10 years 86.44%
10-year low 10-year high
EV/Sales against its own 10 years 14.81%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 19 10 4 3
Receivables 1 — — —
Inventory — — — —
Other — — — —
21 10 4 3
2023 2024 2025 Q'26
Payables 2 1 0 1
ST’ Debt — — — —
Other — — — —
4 1 0 1

Compound Annual Growth %

10y 5y 3y
Sales 36.33% (0.26%) 14.73%
Cash Flow 0.00% 0.00% 0.00%
Earnings 0.00% 0.00% 0.00%
Book Value (19.32%) (30.29%) (50.34%)

Earnings Trends EPS, adjusted, against the consensus

Q3 FY23 Estimate −1.05 Actual −1.03

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY22 −1.51 −1.45 Beat by 0.06
Q4 FY22 −1.44 −1.14 Beat by 0.30
Q2 FY23 −1.23 −1.04 Beat by 0.19
Q3 FY23 −1.05 −1.03 Beat by 0.02

EPS $

Mar Jun Sep Dec Year
’26 (0.32) (0.29) — — —
’25 (0.50) (0.42) (0.24) (0.25) (1.41)
’24 0.23 (1.59) (0.71) (0.54) (2.62)
’23 (1.22) (1.04) (1.03) (0.57) (3.87)
’22 (1.51) (1.36) (1.45) (1.14) (5.46)
’21 (1.80) (1.40) (3.00) (1.38) (8.63)
’20 (4.60) (1.00) (6.20) (1.67) (13.40)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 — — — — —
’24 6 2 0 0 8
’23 1 2 2 2 7
’22 1 1 2 2 6
’21 1 2 1 0 5
’20 3 4 4 2 13
’19 — 5 1 2 8
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (1) — — —
’25 (2) (2) (1) (1) (5)
’24 (3) (4) (3) (1) (11)
’23 (5) (5) (4) (2) (16)
’22 (6) (5) (4) (5) (19)
’21 (5) (7) (3) (4) (20)
’20 1 (5) (6) (3) (12)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (1) (1) — — —
’25 (2) (2) (1) (1) (5)
’24 (3) (4) (3) (1) (11)
’23 (5) (5) (4) (2) (17)
’22 (6) (5) (4) (5) (19)
’21 (5) (7) (3) (4) (20)
’20 1 (5) (6) (3) (13)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1
1Buy 2 3Hold 4 5Sell

Ten 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 1 0 0 8 13 5 6 7 8 — 8 +32.2% — — — —
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 — 100.00 0.0 pt
EBT (31) (18) (21) (21) (19) (20) (19) (14) (10) (5) (4) (18.0%)
EBT margin, % (3,688.86) (5,389.85) (13,439.87) (260.38) (152.83) (390.23) (310.26) (193.49) (122.46) 0.00 0.00 +3,688.9 pt
Net income (28) (18) (21) (21) (19) (20) (19) (14) (10) (5) (4) (17.1%)
Per share, $
Per share, $ Revenue 11.27 3.46 0.74 9.45 8.79 1.91 1.76 2.00 2.14 0.00 0.00 n/m
Earnings (376.00) (186.00) (99.60) (24.60) (13.40) (8.63) (5.46) (3.87) (2.62) (1.41) (1.10) (46.2%)
Cash flow (178.72) (149.40) (81.25) 3.86 (8.68) (7.28) (5.61) (4.38) (2.93) (1.49) (1.07) (41.3%)
Capex (5.82) (0.76) (0.09) (0.07) (0.20) (0.05) (0.02) (0.19) (0.11) 0.00 0.00 n/m
Free cash flow (184.53) (150.17) (81.34) 3.79 (8.88) (7.34) (5.64) (4.56) (3.04) (1.49) (1.07) (41.5%)
Book value 118.23 104.61 57.41 13.17 16.09 17.52 9.02 4.93 2.45 1.04 0.70 (40.9%)
Shares, m 0 0 0 1 1 3 3 4 4 4 4 +54.2%
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 10.65 35.56 14.85 1.78 2.71 4.59 2.42 0.98 3.27 — 0.65 8.5
P/B 1.01 2.71 0.84 1.31 1.48 0.51 0.47 0.40 2.85 — 3.19 1.3
EV/Sales 12.59 37.46 17.50 (0.59) 0.55 (4.99) (2.76) (1.06) 2.60 — 0.84 6.8
EV/FCF (0.77) (1.99) (0.69) (1.49) (0.54) 1.29 0.86 0.46 (1.83) — (1.52) (0.5)
Cash, $m
Cash, $m Operating cash flow (13) (14) (17) 3 (12) (20) (19) (16) (11) (5) (4) (9.4%)
Capex 0 0 0 0 0 0 0 (1) 0 — 0 (1.0%)
Free cash flow (14) (15) (17) 3 (13) (20) (19) (17) (11) (5) (4) (9.7%)
Balance, $m
Balance, $m Working capital 0 (2) 0 14 24 50 33 17 9 4 3 +48.4%
Net debt 2 0 (3) (23) (32) (54) (36) (19) (10) (4) (3) n/m
Shareholders’ equity 9 10 12 11 23 47 31 18 9 4 3 (8.8%)
Returns, %
Returns, % ROA (90.49) (110.63) (133.96) (81.05) (52.05) (48.23) (37.76) (37.70) (43.55) (73.31) (85.74) +17.2 pt
ROIC (149.69) (111.36) (137.38) 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 +149.7 pt
ROE (134.61) (191.09) (187.10) (180.17) (113.05) (67.24) (48.62) (57.51) (70.96) (80.93) (111.99) +53.7 pt
People
People Employees 24 24 22 23 22 25 29 22 2 2 — (24.1%)
Revenue/emp, $m 0.03 0.01 0.01 0.34 0.57 0.21 0.21 0.33 3.90 0.00 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2024 · latest quarter Dec 2024

Pulmatrix, 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
ACXP Acurx Pharmaceuticals, Inc. $5.3M — (loss-making) — — n/m −2.36% (below 0%: shrinking) — 0.00% Compare
PCSA Heatwurx Inc. $5.1M — (loss-making) — −64.29% (below 0%: shrinking) n/m +20.29% (above 0%: growing) 0.00% 0.00% Compare
SNTI Senti Biosciences, Inc. $5.1M — (loss-making) — (loss-making) −98.68% (below 0%: shrinking) n/m −7.48% (below 0%: shrinking) 100.00% (85,229.41%) Compare
PULM Pulmatrix, Inc. $5.1M — (loss-making) — (loss-making) −99.86% (below 0%: shrinking) n/m +41.26% (above 0%: growing) 100.00% 0.00%
CNSY Cerenome, Inc. $5.1M — (loss-making) — (loss-making) −70.43% (below 0%: shrinking) n/m −31.46% (below 0%: shrinking) 100.00% (2,203.65%) Compare
IMNN Imunon, Inc. $5.1M — (loss-making) — (loss-making) 0.00% n/m −4.24% (below 0%: shrinking) 0.00% 0.00% Compare
RVPH Reviva Pharmaceuticals Holdings, Inc. $5.0M — (loss-making) — — n/m +57.80% (above 0%: growing) — 0.00% Compare
CDIO Cardio Diagnostics Holdings, Inc. $5.0M — (loss-making) — (loss-making) +23.79% (above 0%: growing) n/m +2.59% (above 0%: growing) 100.00% (48,193.84%) Compare
CANF Can-Fite Biopharma Ltd $4.9M — (loss-making) — (loss-making) −1.18% (below 0%: shrinking) n/m +12.63% (above 0%: growing) 0.00% 0.00% Compare
Median of peers $5.1M — — −32.74% — +0.12% 50.00% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 8 November 2024

Ownership

Directors and executive officers, together less than 1%
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Pulmatrix, Inc. (PULM) Latest News

22 Oct

Impact 4 · · GlobeNewswire

22 Sep

Impact 4 · · GlobeNewswire

13 Aug

Impact 4 ·
Impact 4 · · PR Newswire

15 May

Impact 4 ·
Impact 4 ·
Impact 4 · · PR Newswire

21 Apr

Impact 4 ·

26 Mar

Impact 4 · · PR Newswire

2 Mar

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26 Feb

Impact 3 · · PR Newswire

18 Dec

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16 Oct

Impact 4 · · PR NewswireMT NewswiresClinical Trials ArenaGuruFocus.comMT NewswiresMT Newswires

6 Aug

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21 Mar

Impact 4 ·

22 Jan

Impact 3 · · GlobeNewswire

13 Nov

Impact 4 ·

15 Aug

Impact 4 · · Simply Wall St.

29 May

Impact 4 · · PR Newswire

12 May

Impact 3 · · Simply Wall St.

10 May

Impact 4 · · PR Newswire

28 Mar

Impact 4 · · PR Newswire

8 Jan

Impact 4 · · PR Newswire

9 Nov

Impact 4 · · PR Newswire

19 Sep

Impact 4 · · PR Newswire

23 Aug

Impact 4 · · PR Newswire

10 Aug

Impact 4 · · PR Newswire

11 Jul

Impact 4 · · PR Newswire

15 Jun

Impact 4 · · PR Newswire

24 May

Impact 4 · · PR Newswire
stockrow.com/PULM · Data as of Dec 31, 2024 · For information only; not investment advice. · © 2026 stockrow.com