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

Rani Therapeutics Holdings, Inc.

Rani Therapeutics Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 million, up 58.9% from fiscal 2024. In the quarter to June 2026, revenue was flat, EPS grew 77.8% and free cash flow fell 55.3%, each against the same quarter a year earlier. Insiders bought in the last twelve months.

0.64 0.04 −5.88%

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Market cap: $94.8M
P/E: 0.0×
Fwd P/E: −4.3×
Dividend yield: —
F-score: n/a
Altman Z: −1.33
Beneish M: n/a
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 buys 0.05

Total sells 0.00

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	2	—	—	—
Sell	—	—	—	—	1	—	—	—	—	—	—	—

Insider Ownership 52.98%

Capital & Financial Ratios $m

Market Cap 94.79

Revenue 5.05

Net Income (33.42)

Free Cash Flow (20.34)

Net Debt (53.39)

Current Ratio 5.31

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (4.29)

P/S ratio 23.73

P/B ratio 2.50

Past 5Y EPS Growth —

This Y EPS Growth 61.11%

Next Y EPS Growth (8.57%)

Next Y revenue growth 283.22%

Next 5Y EPS Growth 28.43%

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

Valuation vs history

EV/Sales, ten years

P/S against its own 10 years 26.26%

10-year low 10-year high

P/B against its own 10 years 43.73%

10-year low 10-year high

EV/Sales against its own 10 years 25.34%

10-year low 10-year high

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

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	49	28	50	53
Receivables	—	—	2	2
Inventory	—	—	—	—
Other	—	0	—	—
	51	30	53	57

	2023	2024	2025	Q'26
Payables	1	1	0	1
ST’ Debt	5	15	—	—
Other	—	—	—	—
	8	20	13	11

Compound Annual Growth %

	10y	5y	3y
Sales	—	—	52.33%
Cash Flow	—	0.00%	0.00%
Earnings	—	0.00%	0.00%
Book Value	—	(10.27%)	(17.53%)

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	2	2	—	—	—
’25	0	—	—	1	2
’24	—	—	—	—	1
’21	1	2	—	0	3
’20	0	0	0	—	0

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(6)	(9)	—	—	—
’25	(8)	(6)	(5)	0	(19)
’24	(9)	(9)	(8)	(9)	(35)
’23	(12)	(12)	(14)	(12)	(51)
’22	(9)	(10)	(12)	(15)	(47)
’21	(4)	(6)	(11)	(11)	(32)
’20	(6)	(9)	1	(7)	(15)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(7)	(9)	—	—	—
’25	(8)	(6)	(5)	0	(19)
’24	(9)	(9)	(9)	(9)	(36)
’23	(12)	(13)	(15)	(13)	(52)
’22	(10)	(11)	(13)	(15)	(48)
’21	(4)	(6)	(11)	(12)	(33)
’20	(6)	(10)	1	(7)	(16)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.04)	(0.04)	—	—	—
’25	(0.22)	(0.18)	(0.12)	(0.07)	(0.45)
’24	(0.29)	(0.26)	(0.24)	(0.27)	(1.05)
’23	(0.33)	(0.37)	(0.36)	(0.27)	(1.33)
’22	(0.29)	(0.31)	(0.33)	(0.35)	(1.28)
’21	(0.28)	(0.12)	(0.16)	(0.27)	(0.43)
’20	(0.27)	(0.06)	(0.15)	—	(0.85)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	9.24	5.11	1.82	1.30	0.39	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	36.27	27.13	6.98	8.75	3.87
People
People	Employees	—	—	—	—	71	114	163	140	106	71
	Revenue/emp, $m	—	—	—	0.00	0.01	0.02	0.00	0.00	0.01	0.02
Income, $m
Income, $m	Revenue	—	—	—	1	0	3	—	—	1	2
	Gross margin, %	—	—	—	0.00	100.00	100.00	0.00	—	100.00	100.00
	EBT	—	—	—	(27)	(17)	(53)	(63)	(68)	(57)	(41)
	EBT margin, %	—	—	—	(2,715.73)	(3,607.79)	(1,952.41)	0.00	0.00	(5,504.28)	(2,507.65)
	Net income	—	0	—	(27)	(17)	(53)	(63)	(68)	(57)	(41)
	Depreciation	—	—	—	1	1	0	0	(1)	0	1
Per share, $
Per share, $	Revenue	—	—	—	0.05	0.02	0.14	0.00	0.00	0.04	0.02
	Earnings	—	—	—	(1.35)	(0.85)	(0.43)	(1.28)	(1.33)	(1.05)	(0.45)
	Cash flow	—	—	—	(1.33)	(0.76)	(1.65)	(1.95)	(2.01)	(1.25)	(0.28)
	Capex	—	—	—	0.00	(0.06)	(0.03)	(0.07)	(0.05)	(0.01)	0.00
	Free cash flow	—	—	—	(1.33)	(0.82)	(1.68)	(2.02)	(2.06)	(1.26)	(0.28)
	Book value	—	—	—	(4.90)	3.62	6.22	3.11	1.00	0.12	0.63
	Shares, m	—	—	—	20	20	20	24	26	28	66
Valuation, ×
Valuation, ×	P/E	—	—	—	0.00	0.00	0.00	—	—	0.00	0.00
	P/S	—	—	—	75.17	75.17	113.06	—	—	13.81	24.84
	P/B	—	—	—	0.00	0.00	2.63	—	—	11.17	2.15
	EV/Sales	—	—	—	118.71	118.71	140.48	—	—	12.74	15.40
	EV/FCF	—	—	—	(21.14)	(21.14)	(12.12)	—	—	(1.01)	(2.94)
Cash, $m
Cash, $m	Operating cash flow	—	—	—	(26)	(15)	(32)	(47)	(51)	(35)	(19)
	Capex	—	—	—	(2)	(1)	(1)	(2)	(1)	0	0
	Free cash flow	—	—	—	(26)	(16)	(33)	(48)	(52)	(36)	(19)
Balance, $m
Balance, $m	Working capital	—	—	—	13	70	117	96	43	10	41
	Total debt	—	—	—	116	4	—	30	29	25	—
	Net debt	—	—	—	99	(69)	(117)	(68)	(19)	(3)	(50)
	Shareholders’ equity	—	—	—	(97)	71	122	74	25	3	42
Returns, %
Returns, %	ROA	—	—	—	(230.97)	(32.61)	(8.18)	(26.34)	(40.94)	(63.50)	(62.30)
	ROIC	—	—	—	0.00	(495.21)	(783.89)	(698.55)	(657.31)	(7,135.17)	0.00
	ROE	—	—	—	25.32	15.91	(202.50)	(31.28)	(68.32)	(207.48)	(131.87)

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
PMVP PMV Pharmaceuticals, Inc.	$97.4M	— (loss-making)	—	—	n/m	+20.27% (above 0%: growing)	0.00%	0.00%	Compare
NRXS Neuraxis, Inc.	$97.2M	— (loss-making)	— (loss-making)	+115.71% (above 0%: growing)	n/m	+29.76% (above 0%: growing)	85.87%	(110.16%)	Compare
IMUX Immunic, Inc.	$96.9M	— (loss-making)	—	—	n/m	−26.79% (below 0%: shrinking)	0.00%	0.00%	Compare
ATRA Atara Biotherapeutics, Inc.	$96.9M	— (loss-making)	— (loss-making)	−96.42% (below 0%: shrinking)	n/m	+52.10% (above 0%: growing)	69.68%	(749.21%)	Compare
ANIX ANIXA BIOSCIENCES INC	$96.7M	— (loss-making)	— (loss-making)	0.00%	n/m	−17.14% (below 0%: shrinking)	0.00%	0.00%	Compare
ICCC ImmuCell Corporation	$95.9M	126×	— (loss-making)	+11.50% (above 0%: growing)	+233.33% (above 0%: growing)	+54.86% (above 0%: growing)	33.92%	26.93%	Compare
RANI Rani Therapeutics Holdings, Inc.	$94.8M	— (loss-making)	— (loss-making)	0.00%	n/m	−55.29% (below 0%: shrinking)	100.00%	(516.86%)
VXRT VAXART, INC.	$92.4M	2.8×	2.1×	−31.58% (below 0%: shrinking)	n/m	+117.38% (above 0%: growing)	100.00%	(48.45%)	Compare
TNYA Tenaya Therapeutics, Inc.	$91.6M	— (loss-making)	—	—	n/m	+76.45% (above 0%: growing)	100.00%	(3,971.89%)	Compare
Median of peers	$96.8M	—	—	0.00%	—	+40.93%	51.80%	(24.22%)

All 614 Biotechnology stocks →

Rani Therapeutics Holdings, Inc. (RANI) key facts

Strength: Rani Therapeutics Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.6 million, up 58.9% from fiscal 2024.
Rani Therapeutics Holdings, Inc. (RANI) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, RANI traded at $0.64, a market capitalization of $94.8 million.
Return on equity was −131.9% and debt-to-equity 0.00.
Its Altman Z-score is −1.33 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.