What is Alx Oncology Holdings Inc's earnings per share (EPS)?

Alx Oncology Holdings Inc (ALXO) reported diluted earnings per share of $-1.90 for fiscal year 2025. This represents a 26.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Alx Oncology Holdings Inc Financials

ALXO

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Alx Oncology Holdings Inc (ALXO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI ALXO FY2025 2026-05-08

ALX Oncology’s business model still looks like a cash-funded R&D program, with lower burn but little evidence of self-funding operations.

In FY2025, free cash flow was nearly the same as operating cash flow because capex was only $212K; that means the cash drain is coming from research and overhead, not from maintaining a capital-heavy operating base. Total assets and equity have also shrunk over the last two years, which fits a company funding progress by using up financial resources rather than by generating them internally.

Research spending still defines the cost structure: FY2025 R&D was $77.0M versus $23.9M of SG&A, so resources are aimed mainly at development work rather than at supporting a mature selling organization. The narrower loss therefore reads more like expense compression than a change in the underlying funding model.

Liquidity is tighter than the low debt load first suggests. Current assets covered current liabilities by 2.1x, and debt-to-equity was 0.2x. But cash ended FY2025 at $16.4M, well below one year of operating outflow, so leverage is not the main financing constraint; ongoing burn is.

Financial Health Signals

Financial Profile 23/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Alx Oncology Holdings Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Alx Oncology Holdings Inc carries a low D/E ratio of 0.17, meaning only $0.17 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Alx Oncology Holdings Inc's current ratio of 2.07 indicates adequate short-term liquidity, earning a score of 38/100. The company can meet its near-term obligations, though with limited headroom.

Returns

Alx Oncology Holdings Inc generates a -391.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -118.7% the prior year.

Piotroski F-Score Weak

1/9

Alx Oncology Holdings Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.83x

For every $1 of reported earnings, Alx Oncology Holdings Inc generates $0.83 in operating cash flow (-$84.1M OCF vs -$101.7M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-64.9x

Alx Oncology Holdings Inc earns $-64.9 in operating income for every $1 of interest expense (-$104.0M vs $1.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

-$103.3M

YoY+27.0%

Alx Oncology Holdings Inc's EBITDA was -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 27.0% from the prior year.

Net Income

-$101.7M

YoY+24.6%

Alx Oncology Holdings Inc reported -$101.7M in net income in fiscal year 2025. This represents an increase of 24.6% from the prior year.

EPS (Diluted)

$-1.90

YoY+26.4%

Alx Oncology Holdings Inc earned $-1.90 per diluted share (EPS) in fiscal year 2025. This represents an increase of 26.4% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$84.4M

YoY+31.1%

Alx Oncology Holdings Inc generated -$84.4M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 31.1% from the prior year.

Cash & Debt

$16.4M

YoY-6.8%

5Y CAGR-48.1%

Alx Oncology Holdings Inc held $16.4M in cash against $4.5M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

54M

YoY+2.5%

5Y CAGR+6.4%

Alx Oncology Holdings Inc had 54M shares outstanding in fiscal year 2025. This represents an increase of 2.5% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-391.4%

YoY-272.7pp

5Y CAGR-380.8pp

Alx Oncology Holdings Inc's ROE was -391.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 272.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$77.0M

YoY-33.8%

5Y CAGR+21.6%

Alx Oncology Holdings Inc invested $77.0M in research and development in fiscal year 2025. This represents a decrease of 33.8% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$212K

YoY-52.6%

5Y CAGR+46.9%

Alx Oncology Holdings Inc invested $212K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 52.6% from the prior year.

ALXO Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	$0	$0-100.0%	$1.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$77.0M-33.8%	$116.4M-17.9%	$141.8M+44.1%	$98.4M+63.5%	$60.2M+107.8%	$29.0M
SG&A Expenses	$23.9M-8.6%	$26.1M-8.4%	$28.5M-1.9%	$29.0M+24.2%	$23.4M+57.9%	$14.8M
Operating Income	-$104.0M+27.0%	-$142.5M+16.3%	-$170.3M-33.6%	-$127.4M-52.5%	-$83.6M-91.4%	-$43.7M
Interest Expense	$1.6M-7.3%	$1.7M+10.5%	$1.6M+557.6%	$238K+1730.8%	$13K	N/A
Income Tax	$0	$0	$0-100.0%	$64K+404.8%	-$21K-108.7%	$241K
Net Income	-$101.7M+24.6%	-$134.8M+16.1%	-$160.8M-30.2%	-$123.5M-47.9%	-$83.5M-82.5%	-$45.7M
EPS (Diluted)	$-1.90+26.4%	$-2.58+31.0%	$-3.74-23.4%	$-3.03-46.4%	$-2.07+25.0%	$-2.76

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$13.6M	N/A	$17.4M-3.2%	$18.0M-24.6%	$23.9M	N/A	$26.5M-23.6%	$34.7M
SG&A Expenses	$5.4M	N/A	$5.1M-6.6%	$5.5M-31.3%	$7.9M	N/A	$6.1M-11.3%	$6.9M
Operating Income	-$19.0M	N/A	-$22.5M+15.4%	-$26.6M+16.3%	-$31.8M	N/A	-$32.6M+21.6%	-$41.5M
Interest Expense	$331K	N/A	$408K+0.7%	$405K-0.2%	$406K	N/A	$446K+4.0%	$429K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$17.9M	N/A	-$22.1M+14.7%	-$25.9M+15.6%	-$30.8M	N/A	-$30.7M+22.1%	-$39.4M
EPS (Diluted)	$-0.17	N/A	$-0.41+16.3%	$-0.49+15.5%	$-0.58	N/A	$-0.58+23.7%	$-0.76

ALXO Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$59.0M-60.0%	$147.8M-39.1%	$242.6M-20.9%	$306.5M-19.4%	$380.2M-12.8%	$436.1M
Current Assets	$50.7M-62.2%	$134.4M-28.8%	$188.7M-30.4%	$271.0M-26.2%	$367.0M-15.8%	$436.0M
Cash & Equivalents	$16.4M-6.8%	$17.6M-21.6%	$22.4M-54.1%	$48.8M-86.6%	$363.7M-16.2%	$434.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$33.1M-3.2%	$34.2M-35.4%	$52.8M+22.8%	$43.0M+151.1%	$17.1M+176.0%	$6.2M
Current Liabilities	$24.6M+32.7%	$18.5M-48.6%	$36.0M+27.1%	$28.3M+85.2%	$15.3M+146.5%	$6.2M
Long-Term Debt	$4.5M-52.1%	$9.5M-1.8%	$9.6M+2.7%	$9.4M	N/A	N/A
Total Equity	$26.0M-77.1%	$113.6M-40.1%	$189.7M-28.0%	$263.5M-27.4%	$363.0M-15.5%	$429.8M
Retained Earnings	-$722.8M-16.4%	-$621.1M-27.7%	-$486.3M-49.4%	-$325.5M-61.1%	-$202.0M-70.4%	-$118.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$178.3M+202.0%	$59.0M-28.6%	$82.7M-13.2%	$95.3M-21.2%	$120.9M-18.2%	$147.8M-20.4%	$185.7M-13.5%	$214.6M
Current Assets	$145.6M+187.0%	$50.7M-23.7%	$66.5M-22.0%	$85.3M-16.8%	$102.5M-23.7%	$134.4M-13.8%	$155.9M-7.6%	$168.7M
Cash & Equivalents	$32.3M+97.2%	$16.4M-30.2%	$23.4M+21.4%	$19.3M-6.4%	$20.6M+17.3%	$17.6M+9.1%	$16.1M+3.7%	$15.5M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$27.0M-18.4%	$33.1M-12.8%	$37.9M+22.7%	$30.9M-5.2%	$32.6M-4.5%	$34.2M-30.2%	$48.9M-11.6%	$55.3M
Current Liabilities	$20.2M-17.8%	$24.6M-11.4%	$27.7M+47.1%	$18.8M+0.6%	$18.7M+1.3%	$18.5M-42.8%	$32.3M-15.9%	$38.4M
Long-Term Debt	$3.3M-27.3%	$4.5M-21.4%	$5.8M-17.6%	$7.0M-15.0%	$8.2M-13.1%	$9.5M-3.7%	$9.8M+0.7%	$9.8M
Total Equity	$151.3M+482.5%	$26.0M-42.0%	$44.8M-30.5%	$64.4M-27.0%	$88.3M-22.3%	$113.6M-17.0%	$136.8M-14.1%	$159.3M
Retained Earnings	-$740.7M-2.5%	-$722.8M-3.3%	-$700.0M-3.3%	-$677.8M-4.0%	-$651.9M-5.0%	-$621.1M-4.9%	-$592.0M-5.5%	-$561.3M

ALXO Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$84.1M+31.0%	-$121.9M+6.5%	-$130.4M-46.1%	-$89.2M-31.0%	-$68.1M-77.9%	-$38.3M
Capital Expenditures	$212K-52.6%	$447K-64.9%	$1.3M-10.7%	$1.4M+114.3%	$666K+2048.4%	$31K
Free Cash Flow	-$84.4M+31.1%	-$122.4M+7.0%	-$131.6M-45.2%	-$90.7M-31.8%	-$68.8M-79.5%	-$38.3M
Investing Cash Flow	$82.6M-4.3%	$86.3M+93.2%	$44.7M+119.0%	-$235.4M-4682.0%	-$4.9M-907.0%	$610K
Financing Cash Flow	$362K-98.8%	$30.8M-48.0%	$59.3M+501.3%	$9.9M+298.9%	$2.5M-99.5%	$462.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$18.6M+1.7%	-$19.0M-11.0%	-$17.1M+27.0%	-$23.4M+5.1%	-$24.7M+23.0%	-$32.0M-26.3%	-$25.4M+4.5%	-$26.6M
Capital Expenditures	$50K+2.0%	$49K-12.5%	$56K+19.1%	$47K-21.7%	$60K0.0%	$60K-59.7%	$149K+65.6%	$90K
Free Cash Flow	-$18.7M+1.7%	-$19.0M-11.0%	-$17.1M+26.9%	-$23.5M+5.1%	-$24.7M+23.0%	-$32.1M-25.8%	-$25.5M+4.2%	-$26.7M
Investing Cash Flow	-$105.0M-1035.1%	$11.2M-47.5%	$21.4M-4.1%	$22.3M-19.3%	$27.6M-16.7%	$33.2M+29.2%	$25.7M+2732.7%	$907K
Financing Cash Flow	$139.6M+20489.2%	$678K+526.4%	-$159K+28.4%	-$222K-441.5%	$65K-80.2%	$328K+30.7%	$251K-99.1%	$27.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ALXO Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	-3694.0%
Net Margin	N/A	N/A	N/A	N/A	N/A	-3869.7%
Return on Equity	-391.4%-272.7pp	-118.7%-33.9pp	-84.8%-37.9pp	-46.9%-23.9pp	-23.0%-12.3pp	-10.6%
Return on Assets	-172.2%-81.0pp	-91.3%-24.9pp	-66.3%-26.0pp	-40.3%-18.3pp	-21.9%-11.5pp	-10.5%
Current Ratio	2.07-5.2	7.26+2.0	5.24-4.3	9.57-14.4	24.00-46.3	70.28
Debt-to-Equity	0.17+0.1	0.08+0.0	0.05+0.0	0.04-0.0	0.05+0.0	0.01
FCF Margin	N/A	N/A	N/A	N/A	N/A	-3242.0%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-11.8%	N/A	-49.4%-9.2pp	-40.3%-5.4pp	-34.8%	N/A	-22.4%+2.3pp	-24.7%
Return on Assets	-10.1%	N/A	-26.8%+0.5pp	-27.2%-1.8pp	-25.4%	N/A	-16.5%+1.8pp	-18.4%
Current Ratio	7.21+5.1	2.07-0.3	2.40-2.1	4.52-0.9	5.47-1.8	7.26+2.4	4.82+0.4	4.39
Debt-to-Equity	0.02-0.2	0.17+0.0	0.13+0.0	0.11+0.0	0.090.0	0.08+0.0	0.07+0.0	0.06
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

Is Alx Oncology Holdings Inc profitable?

No, Alx Oncology Holdings Inc (ALXO) reported a net income of -$101.7M in fiscal year 2025.

What is Alx Oncology Holdings Inc's EBITDA?

Alx Oncology Holdings Inc (ALXO) had EBITDA of -$103.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Alx Oncology Holdings Inc have?

As of fiscal year 2025, Alx Oncology Holdings Inc (ALXO) had $16.4M in cash and equivalents against $4.5M in long-term debt.

What is Alx Oncology Holdings Inc's return on equity (ROE)?

Alx Oncology Holdings Inc (ALXO) has a return on equity of -391.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Alx Oncology Holdings Inc's free cash flow?

Alx Oncology Holdings Inc (ALXO) generated -$84.4M in free cash flow during fiscal year 2025. This represents a 31.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Alx Oncology Holdings Inc's operating cash flow?

Alx Oncology Holdings Inc (ALXO) generated -$84.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Alx Oncology Holdings Inc's total assets?

Alx Oncology Holdings Inc (ALXO) had $59.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Alx Oncology Holdings Inc's capital expenditures?

Alx Oncology Holdings Inc (ALXO) invested $212K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Alx Oncology Holdings Inc spend on research and development?

Alx Oncology Holdings Inc (ALXO) invested $77.0M in research and development during fiscal year 2025.

How many shares does Alx Oncology Holdings Inc have outstanding?

Alx Oncology Holdings Inc (ALXO) had 54M shares outstanding as of fiscal year 2025.

What is Alx Oncology Holdings Inc's current ratio?

Alx Oncology Holdings Inc (ALXO) had a current ratio of 2.07 as of fiscal year 2025, which is generally considered healthy.

What is Alx Oncology Holdings Inc's debt-to-equity ratio?

Alx Oncology Holdings Inc (ALXO) had a debt-to-equity ratio of 0.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Alx Oncology Holdings Inc's return on assets (ROA)?

Alx Oncology Holdings Inc (ALXO) had a return on assets of -172.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Alx Oncology Holdings Inc's cash runway?

Based on fiscal year 2025 data, Alx Oncology Holdings Inc (ALXO) had $16.4M in cash against an annual operating cash burn of $84.1M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Alx Oncology Holdings Inc's Piotroski F-Score?

Alx Oncology Holdings Inc (ALXO) has a Piotroski F-Score of 1 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Alx Oncology Holdings Inc's earnings high quality?

Alx Oncology Holdings Inc (ALXO) has an earnings quality ratio of 0.83x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Alx Oncology Holdings Inc cover its interest payments?

Alx Oncology Holdings Inc (ALXO) has an interest coverage ratio of -64.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Alx Oncology Holdings Inc?

Alx Oncology Holdings Inc (ALXO) scores 23 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.