Captor Therapeutics SA

Captor Therapeutics maintains a strong liquidity position, with cash and equivalents amounting to 64.89 million PLN, which significantly exceeds its total liabilities of 23.75 million PLN. The company's liquidity FPT (free cash flow to total liabilities) is robust, and its current ratio of 3.34 indicates a solid ability to meet short-term obligations. However, the company's operating cash flow is negative at -10.25 million PLN, and free cash flow is also negative at -8.32 million PLN, suggesting ongoing operational cash burn.

Profitability metrics are weak, with a return on equity of -15.81% and a return on assets of -11.31%, both significantly below the industry median for biotechnology firms. The company reported a net loss of 9.44 million PLN and an operating loss of 9.72 million PLN, indicating that it is not yet generating positive returns for shareholders or asset holders.

The company's revenue is concentrated in a single business segment, as disclosed in its latest financials, with no geographic diversification provided in the available data. This lack of segment or geographic diversification increases exposure to market-specific risks, particularly in the healthcare diagnostics space.

Looking ahead, the company is expected to continue experiencing negative revenue growth, as it has not yet achieved profitability. The absence of capital expenditures suggests a focus on cash preservation rather than expansion, which may limit long-term growth potential. The company's outlook for the current fiscal year is negative, with no clear path to positive earnings in the near term.

Risk factors include the company's negative operating and free cash flows, which could pressure liquidity if the trend continues. However, the risk assessment indicates low dilution and liquidity risk at this time, with no immediate filing-based flags detected. The company's debt-to-equity ratio of 0.05 is low, suggesting minimal leverage risk.

Recent events include the publication of the latest financial snapshot, which shows continued losses and negative cash flows. No significant regulatory or operational events were disclosed in the available data. Analysts have provided a mean price target of 67.00 PLN, with a mean recommendation of 1.67 (leaning toward buy), but the lack of positive earnings and cash flow remains a concern.

Cash conversion ratio of 1.09 exceeds the cohort median of 0.87, suggesting superior ability to convert earnings into cash.

Long-term debt decreased to 3.6 million PLN in FY2026, reflecting a reduced leverage position compared to prior periods.

Dilution and liquidity risks are assessed as low, providing a stable capital structure environment for near-term operations.

Gross profit reached 10.6 million PLN in FY2025, demonstrating the company's ability to generate positive gross margins.

The company faces high credit risk, which may impair its ability to secure favorable financing or maintain operational stability.

Free cash flow deteriorated to -37.8 million PLN in FY2026, worsening by 12.0% year-over-year and increasing cash burn.

Revenue PLN 44.0k, −98,5% YoY; Operating income −17,1% YoY.

• ▍Revenue PLN 44.0k, −98,5% YoY
• ▍Operating income −17,1% YoY
• ▍Net income −14,7% YoY
• ▍Free cash flow −15,9% YoY
• ▍Net margin -22831.8%

Revenue PLN 2.0M, −58,4% YoY; Operating income −6,2% YoY.

• ▍Revenue PLN 2.0M, −58,4% YoY
• ▍Operating income −6,2% YoY
• ▍Net income +2,3% YoY
• ▍Free cash flow +2,3% YoY
• ▍Net margin -485.3%

Revenue PLN 2.6M, −42,1% YoY; Operating income −10,2% YoY.

• ▍Revenue PLN 2.6M, −42,1% YoY
• ▍Operating income −10,2% YoY
• ▍Net income −13,6% YoY
• ▍Free cash flow −15,1% YoY
• ▍Net margin -411.3%

Revenue PLN 3.0M; Operating income -PLN 8.8M.

• ▍Revenue PLN 3.0M
• ▍Operating income -PLN 8.8M
• ▍Net margin -296.5%

Revenue PLN 3.5M; Operating income -PLN 10.3M.

• ▍Revenue PLN 3.5M
• ▍Operating income -PLN 10.3M
• ▍Net margin -290.1%

Revenue PLN 4.8M; Operating income -PLN 10.1M.

• ▍Revenue PLN 4.8M
• ▍Operating income -PLN 10.1M
• ▍Net margin -206.5%

Revenue PLN 4.5M; Operating income -PLN 9.7M.

• ▍Revenue PLN 4.5M
• ▍Operating income -PLN 9.7M
• ▍Net margin -209.5%

Revenue PLN 4.7M, −70,5% YoY; Operating income −11,8% YoY.

• ▍Revenue PLN 4.7M, −70,5% YoY
• ▍Operating income −11,8% YoY
• ▍Net income −9,3% YoY
• ▍Free cash flow −12,0% YoY
• ▍Net margin -901.2%

Revenue PLN 15.8M, +19,9% YoY; Operating income +46,6% YoY.

• ▍Revenue PLN 15.8M, +19,9% YoY
• ▍Operating income +46,6% YoY
• ▍Net income +45,6% YoY
• ▍Free cash flow +50,4% YoY
• ▍Net margin -242.8%

Revenue PLN 13.2M, +44,1% YoY; Operating income −90,3% YoY.

• ▍Revenue PLN 13.2M, +44,1% YoY
• ▍Operating income −90,3% YoY
• ▍Net income −96,7% YoY
• ▍Free cash flow −129,5% YoY
• ▍Net margin -534.7%

Revenue PLN 9.2M, +129,8% YoY; Operating income −21,0% YoY.

• ▍Revenue PLN 9.2M, +129,8% YoY
• ▍Operating income −21,0% YoY
• ▍Net income −10,2% YoY
• ▍Free cash flow +2,1% YoY
• ▍Net margin -391.9%

Revenue PLN 4.0M; Operating income -PLN 31.7M.

• ▍Revenue PLN 4.0M
• ▍Operating income -PLN 31.7M
• ▍Net margin -817.2%