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Saturday 7 November 2026
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Voyager Therapeutics, Inc.
VYGR Healthcare Biotechnology
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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| Dec '16 | Dec '17 | Dec '18 | Dec '19 | Dec '20 | Dec '21 | Dec '22 | Dec '23 | Dec '24 | Dec '25 | |
|---|---|---|---|---|---|---|---|---|---|---|
Piotroski F-Score |
— | 2 | 2 | 5 | 5 | 2 | 4 | 6 | 3 | 2 |
P/E ratio |
0.00 | 0.00 | 0.00 | 0.00 | 7.30 | 0.00 | 0.00 | 2.79 | 0.00 | 0.00 |
Altman Z-Score |
3.34 | 3.86 | (1.51) | 0.53 | 1.79 | (2.42) | (2.46) | 3.58 | 1.14 | (0.74) |
P/S ratio |
21.30 | 46.63 | 39.56 | 4.80 | 1.55 | 2.74 | 5.67 | 1.55 | 4.09 | 5.71 |
P/FCF ratio |
0.00 | 0.00 | 0.00 | 12.18 | 0.00 | 0.00 | 0.00 | 5.19 | 0.00 | 0.00 |
Altman Z″-Score (non-manufacturers) |
5.36 | 2.88 | (3.19) | 0.79 | 3.06 | (4.48) | (7.44) | 6.83 | 3.03 | (1.03) |
P/Operating CF |
(23.13) | (31.86) | (12.38) | (21.44) | (12.08) | 9.15 | (18.95) | (16.30) | (22.50) | (7.62) |
Beneish M-Score |
— | (3.38) | (6.03) | 16.22 | 0.14 | (5.26) | (4.41) | 51.39 | (2.76) | (2.87) |
P/B ratio |
2.23 | 3.53 | 6.49 | 5.03 | 1.72 | 1.08 | 3.93 | 1.64 | 1.09 | 1.18 |
Price to Tangible BV |
2.23 | 3.53 | 6.49 | 5.03 | 1.72 | 1.08 | 3.93 | 1.64 | 1.09 | 1.18 |
EV/Sales |
9.03 | 29.95 | 19.11 | 2.10 | 0.49 | (0.80) | 2.77 | 0.63 | 0.75 | 0.85 |
EV/EBITDA |
0.00 | 0.00 | 0.00 | 0.00 | 2.70 | 0.44 | 0.00 | 1.27 | 0.00 | 0.00 |
EV/Operating CF |
(3.02) | (4.95) | (9.17) | 4.51 | (0.87) | 0.56 | (9.05) | 2.01 | (3.94) | (0.26) |
EV/FCF |
(2.70) | (4.65) | (7.21) | 5.33 | (0.78) | 0.55 | (7.55) | 2.09 | (3.20) | (0.25) |
Quick Ratio |
12.80 | 10.73 | 4.93 | 3.95 | 7.07 | 2.61 | 1.64 | 4.87 | 5.40 | 7.47 |
Current Ratio |
12.95 | 10.81 | 5.13 | 4.01 | 7.39 | 2.68 | 1.72 | 4.96 | 5.56 | 7.64 |
Net Debt/EBITDA |
4.36 | 2.41 | 1.71 | 5.36 | (5.80) | 1.95 | 2.66 | (1.88) | 3.08 | 1.50 |
Debt/Assets |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Debt/Equity |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Asset Turnover |
0.07 | 0.05 | 0.04 | 0.39 | 0.56 | 0.16 | 0.23 | 0.98 | 0.22 | 0.13 |
Operating CF/Net income |
1.06 | 0.87 | 0.18 | (1.12) | (2.63) | 0.75 | 0.27 | 0.59 | 0.24 | 1.11 |
Capex/Depreciation |
(3.84) | (2.54) | 93.59 | 9.21 | (3.15) | (0.29) | (0.40) | (4.00) | 1.09 | (2.39) |
| (26.36%) | (52.37%) | (97.83%) | (59.74%) | 28.95% | (57.10%) | (60.24%) | 89.61% | (24.25%) | (48.29%) | |
| (19.18%) | (37.80%) | (48.84%) | (16.40%) | 11.92% | (31.27%) | (26.28%) | 51.83% | (17.47%) | (37.10%) | |
ROIC |
0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1,400.53% | (157.38%) | 0.00% |
Return on Tangible Assets |
(23.25%) | (42.54%) | (61.49%) | (17.68%) | 18.70% | (66.15%) | (66.52%) | 48.71% | (26.93%) | (63.25%) |
Average Days of Receivables |
59.11 | 52.29 | 9.63 | 64.67 | 17.09 | 7.14 | 2.29 | 121.89 | 9.95 | 17.29 |
Research and Development Expense of Revenue |
297.11% | 614.31% | 851.88% | 114.70% | 63.55% | 197.21% | 148.54% | 36.87% | 159.21% | 333.57% |
Selling, General and Administrative Expense of Revenue |
93.32% | 194.75% | 443.75% | 34.81% | 20.45% | 99.55% | 75.73% | 14.33% | 44.90% | 92.99% |
Intangible Assets out of Total Assets |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Share Based Compensation of Revenue |
44.37% | 91.15% | 206.20% | 14.98% | 8.73% | 30.27% | 22.84% | 4.46% | 18.48% | 36.63% |
Graham Net Nets |
0.41 | 0.26 | 0.11 | 0.10 | 0.34 | 0.37 | 0.10 | 0.53 | 0.56 | 0.64 |
Graham Number |
0.00 | 0.00 | 0.00 | 0.00 | 9.57 | 0.00 | 0.00 | 19.98 | 0.00 | 0.00 |
Earnings Yield |
(13.20%) | (15.14%) | (29.36%) | (9.03%) | 13.71% | (70.11%) | (20.10%) | 35.89% | (19.93%) | (51.91%) |
Free Cash Flow Yield |
(15.69%) | (13.83%) | (6.70%) | 8.21% | (40.99%) | (53.82%) | (6.46%) | 19.28% | (5.76%) | (58.56%) |
Revenue per Share |
0.56 | 0.38 | 0.24 | 2.91 | 4.61 | 0.99 | 1.07 | 5.81 | 1.39 | 0.69 |
Operating CF per Share |
(1.68) | (2.29) | (0.50) | 1.36 | (2.60) | (1.42) | (0.33) | 1.81 | (0.27) | (2.26) |
Capex per Share |
(0.20) | (0.15) | (0.13) | (0.21) | (0.33) | (0.04) | (0.06) | (0.08) | (0.06) | (0.04) |
Free Cash Flow per Share |
(1.88) | (2.44) | (0.63) | 1.15 | (2.93) | (1.46) | (0.39) | 1.74 | (0.33) | (2.30) |
Cash per Share |
6.89 | 6.31 | 4.86 | 7.84 | 4.88 | 3.52 | 3.10 | 5.37 | 4.62 | 3.35 |
Shareholders Equity per Share |
5.37 | 5.00 | 1.45 | 2.77 | 4.16 | 2.52 | 1.54 | 5.49 | 5.20 | 3.34 |
Interest Debt per Share |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Book value per Share |
5.37 | 5.00 | 1.45 | 2.77 | 4.16 | 2.52 | 1.54 | 5.49 | 5.20 | 3.34 |
Free Cash Flow |
(47.51) | (65.33) | (20.19) | 41.12 | (108.81) | (55.13) | (15.00) | 74.66 | (18.83) | (135.06) |
Working Capital |
164.98 | 155.89 | 130.81 | 228.65 | 171.00 | 85.72 | 51.91 | 255.18 | 227.02 | 176.15 |
Capital Expenditures |
(5.03) | (3.98) | (4.30) | (7.55) | (12.10) | (1.61) | (2.49) | (3.26) | (3.52) | (2.60) |
Net Current Asset Value |
125.14 | 121.36 | 31.90 | 49.41 | 90.51 | 37.90 | 24.16 | 204.72 | 183.52 | 146.49 |
EV/EBIT |
0.00 | 0.00 | 0.00 | 0.00 | 3.08 | 0.41 | 0.00 | 1.28 | 0.00 | 0.00 |
Capex to Sales |
0.35 | 0.39 | 0.57 | 0.07 | 0.07 | 0.04 | 0.06 | 0.01 | 0.04 | 0.06 |
Price to Operating Income |
0.00 | 0.00 | 0.00 | 0.00 | 9.70 | 0.00 | 0.00 | 3.17 | 0.00 | 0.00 |
| Other line items | ||||||||||
Depreciation/Fixed assets |
0.17 | 0.15 | 0.00 | (0.05) | 0.15 | 0.25 | 0.35 | 0.05 | (0.23) | 0.08 |
Cash ROIC |
(15.31%) | (21.56%) | (9.98%) | 10.79% | (32.44%) | (24.22%) | (8.43%) | 15.98% | (3.32%) | (34.41%) |
Accounts Receivable Turnover |
7.57 | 5.40 | 9.22 | 11.17 | 12.91 | 8.56 | 82.72 | 5.97 | 1.87 | 19.73 |
Accounts Payable Turnover |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Inventory Turnover |
— | — | — | — | — | — | 0.00 | — | — | — |
Average Days of Payables |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Days of Inventory on Hand |
— | — | — | — | — | — | 0.00 | — | — | — |
Average Receivables |
1.88 | 1.88 | 0.83 | 9.35 | 13.25 | 4.37 | 0.49 | 41.87 | 42.84 | 2.05 |
Average Payables |
0.58 | 0.79 | 1.03 | 2.55 | 2.35 | 0.60 | 1.57 | 2.09 | 2.80 | 4.50 |
Average Assets |
209.51 | 187.02 | 180.75 | 265.89 | 308.17 | 227.72 | 176.61 | 255.32 | 372.17 | 322.67 |
Average Common Equity |
152.50 | 134.99 | 90.25 | 72.98 | 126.92 | 124.69 | 77.04 | 147.67 | 268.04 | 247.92 |
Columns are period end dates · fundamentals updated 5 Nov 2026