Sunday 18 October 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. In the quarter to June 2026, revenue fell 39.1%, EPS grew 29.8% and free cash flow grew 24.8%, each against the same quarter a year earlier.

1.90 0.16 −7.77%

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Market cap: $126.9M
P/E: 0.0×
Fwd P/E: −2.1×
Dividend yield: —
F-score: 2/9
Altman Z: −0.74
Beneish M: −2.87
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 sells 0.30

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	10	—	1	—	—	—	—	—	—

Insider Ownership 14.79%

Capital & Financial Ratios $m

Market Cap 126.93

Revenue 34.46

Net Income (107.73)

Free Cash Flow (121.42)

Net Debt (116.34)

Current Ratio 7.51

Debt/Equity 0.00

P/E ratio 0.00

Fwd P/E (2.07)

P/S ratio 3.34

P/B ratio 0.75

Past 5Y EPS Growth —

This Y EPS Growth 16.44%

Next Y EPS Growth 23.25%

Next Y revenue growth (49.77%)

Next 5Y EPS Growth 17.58%

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 32.03%

10-year low 10-year high

P/B against its own 10 years 4.46%

10-year low 10-year high

EV/FCF against its own 10 years 0.66%

10-year low 10-year high

Dividends

Payout Ratio —

Annual Dividend Rate —

Annual Dividend Yield —

	total	individual payouts
2023	Powerpack
2022	Powerpack
2021	Powerpack
2020	Powerpack
2019	Powerpack
2017	Powerpack

special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	231	267	196	116
Receivables	83	2	2	3
Inventory	—	—	—	—
Other	—	—	—	—
	320	277	203	125

	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%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	3	3	—	—	—
’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)	—	—	—
’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)	—	—	—
’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.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	(0.47)	(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.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	8.12	8.10	8.30	7.76	6.26	2.46	2.60	5.87	5.19	2.65	Analyst estimates 2026–2028 Powerpack
	High	21.92	25.99	31.91	28.79	14.80	9.15	10.60	14.34	11.72	6.27
People
People	Employees	77	88	123	185	177	101	125	162	172	141
	Revenue/emp, $m	0.18	0.12	0.06	0.56	0.97	0.37	0.33	1.54	0.47	0.29
Income, $m
Income, $m	Revenue	14	10	8	104	171	37	41	250	80	40
	Gross margin, %	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	(40)	(71)	(88)	(44)	37	(71)	(46)	134	(64)	(120)
	EBT margin, %	(282.29)	(697.56)	(1,161.15)	(41.76)	21.47	(190.29)	(113.41)	53.49	(80.42)	(296.17)
	Net income	(40)	(71)	(88)	(44)	37	(71)	(46)	132	(65)	(120)
	Depreciation	1	2	0	(1)	4	6	6	1	(3)	1
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
	Earnings	(1.59)	(2.64)	(2.75)	(1.21)	0.99	(1.89)	(1.21)	3.08	(1.13)	(2.04)
	Cash flow	(1.68)	(2.29)	(0.50)	1.36	(2.60)	(1.42)	(0.33)	1.81	(0.27)	(2.26)
	Capex	(0.20)	(0.15)	(0.13)	(0.21)	(0.33)	(0.04)	(0.06)	(0.08)	(0.06)	(0.04)
	Free cash flow	(1.88)	(2.44)	(0.63)	1.15	(2.93)	(1.46)	(0.39)	1.74	(0.33)	(2.30)
	Book value	5.37	5.00	1.45	2.77	4.16	2.52	1.54	5.49	5.20	3.34
	Shares, m	25	27	32	36	37	38	38	43	58	59
Valuation, ×
Valuation, ×	P/E	0.00	0.00	0.00	0.00	7.30	0.00	0.00	2.79	0.00	0.00
	P/S	21.30	46.63	39.56	4.80	1.55	2.74	5.67	1.55	4.09	5.71
	P/B	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/FCF	(2.70)	(4.65)	(7.21)	5.33	(0.78)	0.55	(7.55)	2.09	(3.20)	(0.25)
Cash, $m
Cash, $m	Operating cash flow	(42)	(61)	(16)	49	(97)	(54)	(13)	78	(15)	(132)
	Capex	(5)	(4)	(4)	(8)	(12)	(2)	(2)	(3)	(4)	(3)
	Free cash flow	(48)	(65)	(20)	41	(109)	(55)	(15)	75	(19)	(135)
Balance, $m
Balance, $m	Working capital	165	156	131	229	171	86	52	255	227	176
	Total debt	—	—	—	34	48	44	23	—	—	—
	Net debt	(174)	(169)	(156)	(282)	(181)	(133)	(119)	(231)	(267)	(196)
	Shareholders’ equity	136	134	46	100	154	95	59	236	300	196
Returns, %
Returns, %	ROA	(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
	ROE	(26.36)	(52.37)	(97.83)	(59.74)	28.95	(57.10)	(60.24)	89.61	(24.25)	(48.29)

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
KRRO Korro Bio, Inc.	$137.1M	— (loss-making)	— (loss-making)	−86.28% (below 0%: shrinking)	n/m	+12.07% (above 0%: growing)	100.00%	0.00%	Compare
ANTX AN2 Therapeutics, Inc.	$135.9M	— (loss-making)	—	—	n/m	+7.91% (above 0%: growing)	0.00%	0.00%	Compare
CUE Cue Biopharma, Inc.	$135.6M	— (loss-making)	— (loss-making)	+166.66% (above 0%: growing)	n/m	−742.65% (below 0%: shrinking)	100.00%	(1,113.30%)	Compare
TLSA Tiziana Life Sciences Ltd	$134.7M	— (loss-making)	—	—	−258.11% (below 0%: shrinking)	+18.03% (above 0%: growing)	0.00%	—	Compare
VYGR Voyager Therapeutics, Inc.	$126.9M	— (loss-making)	— (loss-making)	−39.13% (below 0%: shrinking)	n/m	+24.80% (above 0%: growing)	100.00%	(833.87%)
HUMA Humacyte, Inc.	$122.1M	— (loss-making)	— (loss-making)	+34.88% (above 0%: growing)	n/m	+17.85% (above 0%: growing)	(203.20%)	(6,649.26%)	Compare
OTLK Outlook Therapeutics, Inc.	$121.7M	— (loss-making)	— (loss-making)	−99.42% (below 0%: shrinking)	n/m	−76.54% (below 0%: shrinking)	(95.40%)	(124,255.17%)	Compare
ABOS Acumen Pharmaceuticals, Inc.	$120.8M	— (loss-making)	—	—	n/m	+43.23% (above 0%: growing)	0.00%	0.00%	Compare
SPRB Spruce Biosciences, Inc.	$119.2M	— (loss-making)	— (loss-making)	−75.86% (below 0%: shrinking)	n/m	−152.10% (below 0%: shrinking)	100.00%	0.00%	Compare
Median of peers	$128.4M	—	—	−75.86%	—	+9.99%	0.00%	0.00%

All 614 Biotechnology stocks →

Voyager Therapeutics, Inc. (VYGR) key facts

Concern: Voyager Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $40.4 million, down 49.5% from fiscal 2024.
Concern: Voyager Therapeutics, Inc. reported a net loss of $119.7 million, or a loss of $2.04 per share, for fiscal 2025.
Voyager Therapeutics, Inc. (VYGR) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
As of October 16, 2026, VYGR traded at $1.90, a market capitalization of $126.9 million.
Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 3.3× sales.
Return on equity was −48.3% and debt-to-equity 0.00.
Its Piotroski F-score is 2 out of 9 and its Altman Z-score is −0.74 (distress zone) for fiscal 2025.