Pricing Log in Create free account
Monday 9 November 2026 Export STRO’s income statement to Excel — free account

Sutro Biopharma, Inc.

STRO

Healthcare Biotechnology

Sutro Biopharma, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $102.5 million, up 65.2% from fiscal 2024.

Revenue
−84.6%
EPS
−66.4%
Free cash flow
+14.6%

Quarter to June 2026, against a year earlier

9.62 0.42 +4.57%
Market cap
$159.5M
P/E
n/m
Fwd P/E
n/m
Dividend yield
—
F-score
3/9
ROIC
0.00%
Net debt / EBITDA
0.9×
Dividend safety
n/a
Overview
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios

Insider Decisions last twelve months

Net bought
—
Trades
0 sells · 0 buys
Ownership
13.3%

Capital & Financial Ratios $m

Size
Market Cap 160
Revenue ttm 46
Net income ttm (181)
Free cash flow ttm (146)
Net debt Q (164)
Valuation
P/E n/m
Forward P/E n/m
Price / sales 3.5
Forward P/S Powerpack
Price / FCF n/m
Price / book n/m
Financial health
Current ratio Q 3.3 (at or above 1.5: strong)
Debt / equity Q n/m
Interest coverage Q 4.0
Growth
Revenue growth Q −84.6% (below 0%: shrinking)
Operating income growth Q −793.5% (below 0%: shrinking)
EPS, this year +64.9% (at or above 15%: strong)
EPS, next year A +19.2% (at or above 15%: strong)
Revenue, next year A −48.6% (below 0%: weak)
EPS, past 5 yrs —
EPS, next 5 yrs A +33.9% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates; n/m is not meaningful, as a P/E on a loss. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 0.1×, against a ten-year median of 0.6×; over the ten years it ranged from −3.8× in 2023 to 16.3× in 2021.
P/S against its own 10 years 37.02%
10-year low 10-year high
EV/Sales against its own 10 years 1.17%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 376 317 141 164
Receivables 36 9 4 6
Inventory — — — —
Other — — — —
422 343 151 176
2023 2024 2025 Q'26
Payables 9 10 8 3
ST’ Debt 4 — — —
Other — — — —
94 132 75 53

Compound Annual Growth %

10y 5y 3y
Sales — 19.12% 14.78%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — 0.00% 0.00%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −2.04 Actual −2.33

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q2 FY25 −3.90 −1.40 Beat by 2.50
Q3 FY25 −4.20 −6.70 Miss by 2.50
Q1 FY26 −2.32 −2.94 Miss by 0.62
Q2 FY26 −2.04 −2.33 Miss by 0.29
Q3 FY26 −1.88 — Reports 5 November 2026

EPS $

Mar Jun Sep Dec Year
’26 (2.94) (2.33) — — —
’25 (9.10) (1.40) (6.70) (5.35) (22.49)
’24 (9.50) (5.90) (5.90) (8.90) (29.60)
’23 (8.50) (6.40) (8.10) 5.20 (17.80)
’22 (8.40) (5.50) (3.70) (6.10) (23.50)
’21 (6.60) (1.30) (6.70) (8.30) (22.90)
’20 (8.40) 9.40 4.50 (14.80) (9.90)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 15 10 — — —
’25 17 64 10 12 102
’24 13 26 9 15 62
’23 13 10 17 114 154
’22 6 28 25 9 68
’21 15 28 9 11 62
’20 7 9 18 8 43
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (42) (38) — — —
’25 (68) (45) (38) (26) (177)
’24 (65) 9 (65) (72) (192)
’23 (61) (31) (34) 14 (112)
’22 (35) (3) 66 (24) 4
’21 (30) (5) (24) (22) (82)
’20 (19) (12) (18) (19) (68)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (42) (38) — — —
’25 (69) (45) (38) (27) (179)
’24 (65) 9 (65) (73) (195)
’23 (62) (33) (34) 13 (116)
’22 (37) (5) 65 (27) (4)
’21 (33) (11) (29) (24) (97)
’20 (19) (14) (21) (21) (75)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.3
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 60 52 38 43 43 62 68 154 62 102 46 +6.2% 53 31 29 (34.6%)
Gross margin, % 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 0.0 pt
EBT 2 (20) (35) (56) (32) (106) (117) (89) (225) (191) (181) n/m
EBT margin, % 2.85 (38.05) (91.93) (130.44) (74.96) (170.55) (172.20) (57.63) (362.81) (186.55) (395.46) (189.4) pt
Net income 2 (20) (35) (56) (32) (106) (119) (107) (227) (191) (181) n/m
Per share, $
Per share, $ Revenue 1,464.00 1,154.93 66.71 18.61 13.12 13.42 13.36 25.55 8.02 12.06 2.76 (41.3%)
Earnings 41.72 (439.52) (61.30) (24.30) (9.90) (22.90) (23.50) (17.80) (29.60) (22.49) (17.32) n/m
Cash flow (322.38) (827.52) 22.02 (28.32) (20.82) (17.71) 0.70 (18.55) (24.76) (20.86) (8.76) (26.2%)
Capex (107.30) (74.02) (2.70) (1.52) (2.19) (3.32) (1.55) (0.72) (0.40) (0.20) (0.03) (50.3%)
Free cash flow (429.68) (901.54) 19.32 (29.84) (23.00) (21.03) (0.85) (19.27) (25.16) (21.06) (8.79) (28.5%)
Book value 284.83 (145.00) 228.41 42.59 101.94 54.76 42.78 24.87 5.76 (15.59) (6.23) n/m
Shares, m 0 0 1 2 3 5 5 6 8 8 12 +81.0%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.0
P/S 0.00 0.00 1.35 5.91 16.55 11.09 6.00 1.79 2.29 0.96 3.49 4.6
P/B 0.00 0.00 0.39 2.58 2.13 2.72 1.87 1.84 3.19 0.00 0.00 1.5
EV/Sales 0.00 0.00 (3.59) 3.38 8.53 8.30 1.31 (0.60) (2.69) (0.34) 0.06 1.4
EV/FCF 0.58 0.58 (12.39) (2.11) (4.87) (5.29) (20.62) 0.80 0.86 0.20 (0.02) (4.2)
Cash, $m
Cash, $m Operating cash flow (13) (37) 13 (65) (68) (82) 4 (112) (192) (177) (145) +33.5%
Capex (4) (3) (2) (3) (7) (15) (8) (4) (3) (2) 0 (10.0%)
Free cash flow (18) (40) 11 (69) (75) (97) (4) (116) (195) (179) (146) +29.4%
Balance, $m
Balance, $m Working capital 0 (6) 174 96 349 177 287 328 211 76 123 n/m
Net debt (46) (7) (190) (108) (344) (173) (318) (372) (317) (141) (164) +13.2%
Shareholders’ equity 12 (6) 132 98 332 253 217 150 45 (132) (103) n/m
Returns, %
Returns, % ROA 3.09 (35.78) (26.76) (29.38) (11.67) (28.70) (31.86) (24.34) (53.02) (68.12) (79.08) (71.2) pt
ROIC 0.00 0.00 0.00 0.00 0.00 (77.22) 0.00 0.00 0.00 0.00 0.00 0.0 pt
ROE (1.70) 19.70 (313.40) (48.62) (14.95) (36.11) (50.77) (58.25) (234.19) 435.02 266.76 +436.7 pt
People
People Employees — 128 147 168 191 224 278 324 310 137 — +0.9%
Revenue/emp, $m 0.00 0.40 0.26 0.25 0.22 0.28 0.24 0.47 0.20 0.75 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Sutro Biopharma, 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
PEPG PepGen, Inc. $171.1M — (loss-making) — — n/m +33.02% (above 0%: growing) 0.00% 0.00% Compare
CNTN Canton Strategic Holdings, Inc. $164.1M — (loss-making) — — n/m −600.39% (below 0%: shrinking) 100.00% (80.37%) Compare
IPHA Innate Pharma S.A. Sponsored ADR $160.9M — (loss-making) — +246.29% (above 0%: growing) +106.08% (above 0%: growing) −929.03% (below 0%: shrinking) 0.00% 0.00% Compare
ORMP Oramed Pharmaceuticals Inc. $160.6M 0.9× 0.9× +193.26% (above 0%: growing) +493.75% (above 0%: growing) +94.29% (above 0%: growing) 0.65% 0.00% Compare
ALXO ALX Oncology Holdings Inc. $159.7M — (loss-making) — (loss-making) −100.00% (below 0%: shrinking) n/m +31.65% (above 0%: growing) 0.00% 0.00% Compare
STRO Sutro Biopharma, Inc. $159.5M — (loss-making) — (loss-making) −84.57% (below 0%: shrinking) n/m +14.55% (above 0%: growing) 100.00% (303.77%)
ANTX AN2 Therapeutics, Inc. $150.9M — (loss-making) — — n/m +7.91% (above 0%: growing) 0.00% 0.00% Compare
SION Sionna Therapeutics, Inc. $148.3M — (loss-making) — — n/m −22.40% (below 0%: shrinking) — 0.00% Compare
INO Inovio Pharmaceuticals, Inc. $125.6M — (loss-making) — (loss-making) −83.19% (below 0%: shrinking) n/m +13.41% (above 0%: growing) 100.00% 0.00% Compare
Median of peers $160.1M — — +55.04% — +10.66% 0.00% 0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 22 April 2026

Ownership

Directors and executive officers, together 1.80%
Affiliates of Biotechnology Value Fund LP 7.60%
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

Sutro Biopharma, Inc. (STRO) Latest News

21 Oct

Impact 4 · · GlobeNewswire

12 Oct

Impact 3 · · GlobeNewswire

29 Sep

Impact 4 · · GlobeNewswire
Impact 3 · · GlobeNewswire

12 Aug

Impact 3 · · Stocktwits

17 May

Impact 3 · · Simply Wall St.

14 May

Impact 3 · · GlobeNewswire

1 May

Impact 3 · · Insider Monkey

19 Apr

Impact 3 ·

23 Mar

Impact 4 · · GlobeNewswire

11 Feb

Impact 3 · · ZacksSimply Wall St.BloombergSimply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

10 Feb

Impact 3 · · GlobeNewswire
Impact 3 · · Simply Wall St.

22 Jan

Impact 3 · · Zacks

7 Jan

Impact 3 · · GlobeNewswireMT NewswiresMT NewswiresInsider MonkeySimply Wall St.MT NewswiresMT Newswires

31 Dec

Impact 3 · · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

17 Dec

Impact 3 · · GlobeNewswireMT NewswiresMT NewswiresMT NewswiresMT NewswiresMT Newswires

3 Dec

Impact 4 · · GlobeNewswire

1 Dec

Impact 3 · · GlobeNewswire

12 Nov

Impact 4 · · GlobeNewswireBioPharma DiveBioPharma DivePharmaceutical TechnologyPharmaceutical TechnologyPharmaceutical TechnologyZacksPharmaceutical Technology

6 Nov

Impact 3 · · ZacksZacksZacks
Impact 3 · · GlobeNewswire

5 Nov

Impact 3 · · GlobeNewswire

3 Nov

Impact 3 · · GlobeNewswire

10 Aug

Impact 4 ·

7 Aug

Impact 4 · · GlobeNewswire
Impact 3 ·

23 Jul

Impact 4 · · Simply Wall St.

22 Jul

Impact 4 · · GlobeNewswire

2 Jun

Impact 3 ·
stockrow.com/STRO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com