Saturday 7 November 2026 Export VYGR’s income statement to Excel — free account

Voyager Therapeutics, Inc.

Voyager Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $40.4 million, down 49.5% from fiscal 2024.

Revenue: −70.0%
EPS: +14.9%
Free cash flow: +37.1%

Quarter to September 2026, against a year earlier

1.90 0.18 +10.47%

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Market cap: $106.0M
P/E: 0.0×
Fwd P/E: −1.0×
Dividend yield: —
F-score: 2/9
Altman Z: −0.74
Beneish M: −2.87
Dividend safety: n/a

Overview

Insider Decisions last twelve months

Sold, $m 0.30

Trades a month
	Jan 26			Apr 26			Jul 26			Oct 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	10	—	1	—	—	—	—	—	—	—

Insider Ownership 16.55%

Capital & Financial Ratios $m

Size

Market Cap 105.99

Revenue ttm 25.11

Net income ttm (104.53)

Free cash flow ttm (109.19)

Net debt Q (106.81)

Valuation

P/E 0.00

Forward P/E (1.02)

Price / sales 4.68

Forward P/S Powerpack

Price / FCF 0.00

Price / book 0.87

Financial health

Current ratio Q 6.81

Debt / equity Q 0.00

Interest coverage Q —

Growth

Revenue growth Q −69.97%

Operating income growth Q +13.64%

EPS, this year +17.19%

EPS, next year A +19.44%

Revenue, next year A −49.77%

EPS, past 5 yrs —

EPS, next 5 yrs A +14.51%

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

P/S against its own 10 years 43.44%

10-year low 10-year high

P/B against its own 10 years 7.66%

10-year low 10-year high

EV/Sales against its own 10 years 12.78%

10-year low 10-year high

Dividends

Yield: —
Annual rate: —
Payout ratio: —

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	231	267	196	107
Receivables	83	2	2	4
Inventory	—	—	—	—
Other	—	—	—	—
	320	277	203	114

	2023	2024	2025	Q'26
Payables	2	4	5	2
ST’ Debt	—	—	—	—
Other	3	7	—	—
	65	50	27	17

Compound Annual Growth %

	10y	5y	3y
Sales	8.82%	(25.09%)	(0.44%)
Cash Flow	0.00%	0.00%	0.00%
Earnings	0.00%	0.00%	0.00%
Book Value	1.49%	4.91%	49.21%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY26 Estimate −0.55 Actual −0.40

−0.57 −0.52 −0.47 −0.43 −0.38

Q3 FY25 Beat +0.06

Q4 FY25 Beat +0.08

Q1 FY26 Beat +0.07

Q2 FY26 Beat +0.15

Q3 FY26 — Nov 9

Earnings per share against the consensus, by quarter
Quarter	Estimate	Reported	Result
Q3 FY25	−0.53	−0.47	Beat by 0.06
Q4 FY25	−0.54	−0.46	Beat by 0.08
Q1 FY26	−0.54	−0.47	Beat by 0.07
Q2 FY26	−0.55	−0.40	Beat by 0.15
Q3 FY26	−0.41	—	Reports 9 November 2026

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.47)	(0.40)	(0.40)	—	—
’25	(0.53)	(0.57)	(0.47)	(0.46)	(2.04)
’24	(0.20)	(0.18)	(0.16)	(0.59)	(1.13)
’23	2.94	(0.51)	(0.59)	1.25	2.97
’22	(0.56)	(0.50)	0.45	(0.61)	(1.21)
’21	(0.58)	(0.80)	(0.67)	0.15	(1.89)
’20	(0.66)	(0.23)	2.27	(0.43)	0.98

Fiscal quarters ending in the months shown.

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3	3	4	—	—
’25	6	5	13	15	40
’24	20	30	25	6	80
’23	150	5	5	90	250
’22	1	1	41	(2)	41
’21	7	1	1	28	37
’20	18	29	118	7	171

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(33)	(26)	(20)	—	—
’25	(38)	(33)	(31)	(30)	(132)
’24	59	(32)	(28)	(15)	(15)
’23	124	(1)	(21)	(24)	78
’22	34	(18)	(16)	(12)	(13)
’21	(21)	(23)	(21)	11	(54)
’20	(29)	(21)	(25)	(22)	(97)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(33)	(26)	(20)	—	—
’25	(39)	(34)	(31)	(31)	(135)
’24	57	(33)	(28)	(15)	(19)
’23	123	(2)	(22)	(25)	75
’22	34	(20)	(16)	(13)	(15)
’21	(22)	(23)	(21)	11	(55)
’20	(30)	(23)	(30)	(26)	(109)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	TTM Sep ’26	Trend	10 yrs	2026e	2027e	2028e	Next 3/yr
													Ten-year view		Analyst estimates Powerpack
Income, $m
Income, $m	Revenue	14	10	8	104	171	37	41	250	80	40	25		+12.3%	20	47	83	+27.0%
	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	Powerpack Voyager Therapeutics, Inc.’s next three years, line by line Analysts expect revenue to grow 27.0% a year to 2028 — faster than the 12.3% of the last 9 years. See the consensus for every other line: earnings, margins, cash flow, valuation and returns. Unlock estimates Try Powerpack free for 7 days, then $99 / year ($8.25 a month). Cancel any time. Also in Powerpack: every quarter, Excel exports, API & MCP access. Compare plans
	EBT	(40)	(71)	(88)	(44)	37	(71)	(46)	134	(64)	(120)	(104)		+12.9%
	EBT margin, %	(282.29)	(697.56)	(1,161.15)	(41.76)	21.47	(190.29)	(113.41)	53.49	(80.42)	(296.17)	(416.08)		(13.9) pt
	Net income	(40)	(71)	(88)	(44)	37	(71)	(46)	132	(65)	(120)	(105)		+12.9%
Per share, $
Per share, $	Revenue	0.56	0.38	0.24	2.91	4.61	0.99	1.07	5.81	1.39	0.69	0.41		+2.3%
	Earnings	(1.59)	(2.64)	(2.75)	(1.21)	0.99	(1.89)	(1.21)	3.08	(1.13)	(2.04)	(1.74)		+2.8%
	Cash flow	(1.68)	(2.29)	(0.50)	1.36	(2.60)	(1.42)	(0.33)	1.81	(0.27)	(2.26)	(1.77)		+3.3%
	Capex	(0.20)	(0.15)	(0.13)	(0.21)	(0.33)	(0.04)	(0.06)	(0.08)	(0.06)	(0.04)	0.00		(15.4%)
	Free cash flow	(1.88)	(2.44)	(0.63)	1.15	(2.93)	(1.46)	(0.39)	1.74	(0.33)	(2.30)	(1.77)		+2.3%
	Book value	5.37	5.00	1.45	2.77	4.16	2.52	1.54	5.49	5.20	3.34	2.19		(5.1%)
	Shares, m	25	27	32	36	37	38	38	43	58	59	60		+9.8%
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	7.30	0.00	0.00	2.79	0.00	0.00	0.00		1.0
	P/S	21.30	46.63	39.56	4.80	1.55	2.74	5.67	1.55	4.09	5.71	4.68		13.4
	P/B	2.23	3.53	6.49	5.03	1.72	1.08	3.93	1.64	1.09	1.18	0.87		2.8
	EV/Sales	9.03	29.95	19.11	2.10	0.49	(0.80)	2.77	0.63	0.75	0.85	0.42		6.5
	EV/FCF	(2.70)	(4.65)	(7.21)	5.33	(0.78)	0.55	(7.55)	2.09	(3.20)	(0.25)	(0.10)		(1.8)
Cash, $m
Cash, $m	Operating cash flow	(42)	(61)	(16)	49	(97)	(54)	(13)	78	(15)	(132)	(109)		+13.5%
	Capex	(5)	(4)	(4)	(8)	(12)	(2)	(2)	(3)	(4)	(3)	(1)		(7.1%)
	Free cash flow	(48)	(65)	(20)	41	(109)	(55)	(15)	75	(19)	(135)	(109)		+12.3%
Balance, $m
Balance, $m	Working capital	165	156	131	229	171	86	52	255	227	176	98		+0.7%
	Net debt	(174)	(169)	(156)	(282)	(181)	(133)	(119)	(231)	(267)	(196)	(107)		+1.3%
	Shareholders’ equity	136	134	46	100	154	95	59	236	300	196	135		+4.2%
Returns, %
Returns, %	ROA	(19.18)	(37.80)	(48.84)	(16.40)	11.92	(31.27)	(26.28)	51.83	(17.47)	(37.10)	(44.92)		(17.9) pt
	ROIC	0.00	0.00	0.00	0.00	0.00	0.00	0.00	1,400.53	(157.38)	0.00	(249.55)		0.0 pt
	ROE	(26.36)	(52.37)	(97.83)	(59.74)	28.95	(57.10)	(60.24)	89.61	(24.25)	(48.29)	(58.90)		(21.9) pt
People
People	Employees	77	88	123	185	177	101	125	162	172	141	—		+7.0%
	Revenue/emp, $m	0.18	0.12	0.06	0.56	0.97	0.37	0.33	1.54	0.47	0.29	—		+5.0%

Negative figures in brackets.

estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
HUMA Humacyte, Inc.	$109.9M	— (loss-making)	— (loss-making)	+34.88% (above 0%: growing)	n/m	+17.85% (above 0%: growing)	(203.20%)	(6,649.26%)	Compare
NERV Minerva Neurosciences, Inc	$109.8M	— (loss-making)	— (loss-making)	—	n/m	−553.48% (below 0%: shrinking)	0.00%	0.00%	Compare
OTLK Outlook Therapeutics, Inc.	$106.9M	— (loss-making)	— (loss-making)	−99.42% (below 0%: shrinking)	n/m	−76.54% (below 0%: shrinking)	(95.40%)	(124,255.17%)	Compare
VYGR Voyager Therapeutics, Inc.	$106.0M	— (loss-making)	— (loss-making)	−69.97% (below 0%: shrinking)	n/m	+37.08% (above 0%: growing)	100.00%	(658.25%)
ANIX ANIXA BIOSCIENCES INC	$105.3M	— (loss-making)	— (loss-making)	0.00%	n/m	−17.14% (below 0%: shrinking)	0.00%	0.00%	Compare
NBP NovaBridge Biosciences	$105.3M	— (loss-making)	— (loss-making)	−88.54% (below 0%: shrinking)	n/m	+34.25% (above 0%: growing)	100.00%	0.00%	Compare
AVXL Anavex Life Sciences Corp.	$102.9M	— (loss-making)	—	—	n/m	+27.02% (above 0%: growing)	—	0.00%	Compare
HURA TuHURA Biosciences, Inc.	$102.6M	— (loss-making)	—	—	n/m	−70.46% (below 0%: shrinking)	0.00%	0.00%	Compare
OKUR OnKure Therapeutics, Inc.	$102.3M	— (loss-making)	—	—	n/m	+22.05% (above 0%: growing)	0.00%	0.00%	Compare
Median of peers	$105.3M	—	—	−44.27%	—	+0.35%	0.00%	0.00%

All 621 Biotechnology stocks →

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Year	Total pay	Actually paid	$100 invested
2025	2.51m	2.05m	64.43
2024	3.38m	891.41k	92.95
2023	3.17m	5.14m	138.36

Ownership

Directors and executive officers, together 12.70%

Entities affiliated with Neurocrine Biosciences, Inc. 14.20%

Entities affiliated with Armistice Capital LLC 6.60%

Entities affiliated with EcoR1 Capital, LLC 6.60%

Entities affiliated with BlackRock, Inc. 5.80%

Entities affiliated with Millennium Management LLC 5.70%

Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. 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

Voyager Therapeutics, Inc. (VYGR) Latest News

5 Nov

Impact 3 · 4:01 PM · GlobeNewswire

Voyager Reports Third Quarter 2026 Financial and Operating Results

27 Oct

Impact 3 · 8:01 AM · GlobeNewswire

Voyager’s Tau-Targeted Gene Therapy VY1706 and Anti-Tau Antibody VY7523 for Alzheimer’s Disease to Be Featured in Poster Presentations at CTAD 2026

21 Oct

Impact 4 · 8:01 AM · GlobeNewswire

Voyager Announces CEO Succession Plan, Appoints Robin Swartz President

6 Aug

Impact 3 · 4:01 PM

Voyager Reports Second Quarter 2026 Financial and Operating Results

Impact 3 · 5:30 PM · Zacks

Voyager Therapeutics (VYGR) Reports Q2 Loss, Lags Revenue Estimates

Impact 3 · 4:29 PM · Associated Press Finance

Voyager Therapeutics: Q2 Earnings Snapshot

Impact 3 · 4:01 PM · GlobeNewswire

Voyager Reports Second Quarter 2025 Financial and Operating Results

13 Jul

Impact 4 · 8:01 AM

Voyager Demonstrates Single IV Dose of VY1706 Well Tolerated, Reduced Tau in 6-Month GLP Toxicology Study; Initiation of Clinical Trial in Alzheimer’s Disease Expected H2 2026

29 Jun

Impact 3 · 8:01 AM

Voyager’s Tau-Targeted Gene Therapy VY1706 for Alzheimer’s Disease to Be Featured in Developing Topics Poster Presentation at AAIC 2026

9 Jun

Impact 3 · 6:39 AM · Simply Wall St.

Here's Why We're A Bit Worried About Voyager Therapeutics' (NASDAQ:VYGR) Cash Burn Situation

1 Jun

Impact 4 · 8:00 AM · GlobeNewswire

Voyager Receives FDA IND Clearance for VY1706, First Gene Therapy Approach to Reducing Tau Production in the Brain for Alzheimer’s Disease

20 May

Impact 4 · 8:35 AM · Insider Monkey

What Voyager Therapeutics Inc (VYGR) Has Gained on Its Therapy Programs

13 May

Impact 4 · 6:01 AM · GlobeNewswire

Voyager ASGCT Late Breaker: Single IV Dose of VY1706 Well Tolerated, Reduced Tau in 3-Month GLP Toxicology Data; Clinical Trial in Alzheimer’s Disease Expected H2 2026

7 May

Impact 4 · 4:01 PM · GlobeNewswire

Voyager Reports First Quarter 2026 Financial and Operating Results

27 Apr

Impact 4 · 4:31 PM · GlobeNewswire

Voyager IV-Delivered CNS Gene Therapies Featured in Multiple Presentations at ASGCT 2026, Including Late Breaker on Tau-Targeted VY1706 for Alzheimer’s Disease

22 Mar

Impact 4 · 11:03 PM · MarketBeat

Voyager Therapeutics Conference: CEO Calls 2026 “Year of Tau,” Eyes BBB Capsid Clinic Debut

12 Mar

Impact 3 · 6:06 PM · Simply Wall St.

Does Voyager Therapeutics’ (VYGR) Widening Annual Loss Redefine the Risk-Reward in Its Neurology Pipeline?

9 Mar

Impact 4 · 4:22 PM · Associated Press Finance

Voyager Therapeutics: Q4 Earnings Snapshot

Impact 4 · 4:01 PM · GlobeNewswire

Voyager Reports Fourth Quarter and Full Year 2025 Financial and Operating Results

Impact 3 · 5:15 PM · Zacks

Voyager Therapeutics (VYGR) Reports Q4 Loss, Beats Revenue Estimates

2 Mar

Impact 4 · 5:03 AM · MarketBeat

Voyager Therapeutics Touts Tau, Gene Therapy and NeuroShuttle Roadmap, Sees Cash Runway Into 2028

10 Dec

Impact 4 · 2:14 PM · Insider Monkey

Voyager Therapeutics (VYGR): Strong Q3 Prompts Bullish Coverage

24 Nov

Impact 3 · 7:21 AM · Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.Simply Wall St.

We're A Little Worried About Voyager Therapeutics' (NASDAQ:VYGR) Cash Burn Rate

10 Nov

Impact 4 · 8:01 AM · GlobeNewswire

Transition Bio and Voyager Announce Collaboration to Advance Small Molecules Targeting TDP-43 in ALS and Frontotemporal Dementia

Impact 3 · 9:15 AM · ZacksZacksZacksGuruFocus.comZacksZacksGuruFocus.comZacks

Voyager Therapeutics (VYGR) Reports Q3 Loss, Tops Revenue Estimates

Impact 3 · 8:14 AM · Associated Press Finance

Voyager Therapeutics: Q3 Earnings Snapshot

Impact 3 · 8:01 AM · GlobeNewswire

Voyager Reports Third Quarter 2025 Financial and Operating Results

28 Oct

Impact 3 · 7:52 AM · Simply Wall St.

Owning 44% shares,institutional owners seem interested in Voyager Therapeutics, Inc. (NASDAQ:VYGR),

9 Oct

Impact 3 · 10:19 AM · Zacks

Voyager Therapeutics (VYGR) Soars 11.6%: Is Further Upside Left in the Stock?

15 Sep

Impact 4 · 2:00 PM · Benzinga

Voyager Therapeutics Alzheimer's Portfolio And ALPL NeuroShuttle Underscore Platform Momentum: Analyst

Insider Decisions last twelve months

Capital & Financial Ratios $m

Valuation vs history

Dividends

Assets vs Liabilities $m

Compound Annual Growth %

Earnings Trends EPS, adjusted, against the consensus

EPS $

Revenue $m

Operating Cash Flow $m

Free Cash Flow $m

Target Price Range

Recommendation Rating

Ten years at a glance Fiscal years to December

Voyager Therapeutics, Inc. vs peers in Biotechnology (Q) = latest quarter vs a year earlier

Pay and ownership Proxy statement filed 28 April 2026

Chief executive’s pay

Ownership

Voyager Therapeutics, Inc. (VYGR) Latest News

5 Nov

27 Oct

21 Oct

6 Aug

13 Jul

29 Jun

9 Jun

1 Jun

20 May

13 May

7 May

27 Apr

22 Mar

12 Mar

9 Mar

2 Mar

10 Dec

24 Nov

10 Nov

28 Oct

9 Oct

15 Sep

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