Barinthus Biotherapeutics PLC

Barinthus maintains a strong liquidity position, with $117.8 million in cash and equivalents and a current ratio of 8.46, indicating a robust ability to meet short-term obligations. The company has no long-term debt, and its debt-to-equity ratio is 0.0, reflecting a conservative capital structure. However, the company has negative net income of $16.9 million and operating income of $18.3 million, indicating ongoing operational losses.

Profitability metrics are weak, with a return on equity of -10.81% and a return on assets of -9.07%, both significantly below the industry median for biotechnology firms. The company's price-to-book ratio of 0.19 suggests that the market values the company at a substantial discount to its book value, which may reflect concerns about its ability to generate future earnings.

Barinthus does not report segment or geographic revenue data, and its financial snapshot does not include revenue, suggesting that the company is in the early stages of development and has not yet commercialized any products. The absence of revenue concentration data implies that the company is not yet generating income from specific product lines or geographic regions.

The company's growth trajectory is uncertain, as it has not reported any revenue and is currently in a net loss position. Analysts have assigned a mean price target of $5.50, with a median of $5.50 and a high of $7.00, suggesting a potential upside from the current market price of $0.71. However, the company has not provided specific guidance for the current or next fiscal year.

Risk factors include the company's reliance on external financing to fund operations, as it has negative operating cash flow of $23.8 million and free cash flow of $15.6 million. The risk assessment indicates low liquidity and dilution risk, with no immediate filing-based flags detected. However, the company's equity position is vulnerable to dilution if it raises additional capital through equity offerings.

Recent events include the absence of notable filings or transcripts, and the company has not disclosed any material developments in its operations or financial position. The lack of recent events suggests that the company is in a development phase without significant public announcements or regulatory milestones.

Analysts project 807.6% upside to a mean price target of $5.50, signaling strong institutional confidence in future value.

The company maintains zero long-term debt, providing a clean balance sheet and reducing financial distress risk during development.

Barinthus demonstrates a current ratio of 7.77, indicating robust short-term liquidity to fund ongoing operations and R&D.

Cash conversion metrics rank above the 75th percentile of the biotechnology cohort, highlighting superior operational efficiency relative to peers.

The company faces high credit risk, potentially limiting access to external financing and increasing the cost of capital.

Barinthus reported a net loss of $66.4 million in FY2026, reflecting significant ongoing operational deficits without offsetting revenue.

Free cash flow deteriorated to -$60.6 million in FY2026, demonstrating heavy cash burn that requires continuous capital raising.

Revenue $0.00; Operating income +50,6% YoY.

• ▍Revenue $0.00
• ▍Operating income +50,6% YoY
• ▍Net income +46,0% YoY
• ▍Free cash flow +47,6% YoY

Revenue $0.00, −100,0% YoY; Operating income −60,6% YoY.

• ▍Revenue $0.00, −100,0% YoY
• ▍Operating income −60,6% YoY
• ▍Net income −79,5% YoY
• ▍Free cash flow −102,7% YoY

Operating income −27,6% YoY; Net income −24,8% YoY.

• ▍Operating income −27,6% YoY
• ▍Net income −24,8% YoY
• ▍Free cash flow −22,5% YoY

Revenue $0.00; Operating income -$20.6M.

• ▍Revenue $0.00
• ▍Operating income -$20.6M

Revenue $0.00; Operating income -$23.4M.

• ▍Revenue $0.00
• ▍Operating income -$23.4M

Revenue $15.0M; Operating income -$9.4M.

• ▍Revenue $15.0M
• ▍Operating income -$9.4M
• ▍Net margin -54.2%

Revenue $0.00; Operating income -$18.3M.

• ▍Revenue $0.00
• ▍Operating income -$18.3M

Revenue $0.00, −100,0% YoY; Operating income −3,8% YoY.

• ▍Revenue $0.00, −100,0% YoY
• ▍Operating income −3,8% YoY
• ▍Net income −8,8% YoY
• ▍Free cash flow −7,7% YoY

Revenue $15.0M, +1 766,5% YoY; Operating income +19,0% YoY.

• ▍Revenue $15.0M, +1 766,5% YoY
• ▍Operating income +19,0% YoY
• ▍Net income +16,7% YoY
• ▍Free cash flow +23,3% YoY
• ▍Net margin -408.0%

Revenue $802.0k, −98,2% YoY; Operating income −1 976,6% YoY.

• ▍Revenue $802.0k, −98,2% YoY
• ▍Operating income −1 976,6% YoY
• ▍Net income −1 473,0% YoY
• ▍Free cash flow −2 192,4% YoY
• ▍Net margin -9145.5%

Revenue $44.7M, +16 580,2% YoY; Operating income +93,2% YoY.

• ▍Revenue $44.7M, +16 580,2% YoY
• ▍Operating income +93,2% YoY
• ▍Net income +110,5% YoY
• ▍Free cash flow +106,8% YoY
• ▍Net margin 11.9%

Revenue $268.0k; Operating income -$59.0M.

• ▍Revenue $268.0k
• ▍Operating income -$59.0M
• ▍Net margin -18979.5%