Adlai Nortye Ltd. Financials
This page shows Adlai Nortye Ltd. (ANL) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 5 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).
Adlai Nortye behaves like a cash-consuming, low-capex business where funding the burn, not leverage, is the central mechanic.
Free cash flow stayed nearly identical to operating cash flow across FY2023-FY2025, while capex was only$170K -$200K in the latest two years; the drain is coming from operating spend, not asset buildout. With cash of$60.9M and long-term debt of just$425K in the latest year, the financing question is replacing consumed cash rather than servicing borrowings.
Liquidity improved sharply versus FY2022: the current ratio moved from 0.2x to 1.4x and total liabilities fell from
Accounting losses are also cash losses: net loss and operating cash outflow both clustered around
Financial Health Signals
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 Adlai Nortye Ltd.'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.
Adlai Nortye Ltd. carries a low D/E ratio of 0.02, meaning only $0.02 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
Adlai Nortye Ltd.'s current ratio of 1.41 is below the typical benchmark, resulting in a score of 24/100. However, the company holds substantial cash reserves (134% of current liabilities), which buffers actual liquidity risk. Large mature operators often run tight current ratios by design.
While Adlai Nortye Ltd. generated -$56.7M in operating cash flow, capex of $200K consumed most of it, leaving -$56.9M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Adlai Nortye Ltd. generates a -428.6% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -203.5% the prior year.
Adlai Nortye Ltd. 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).
For every $1 of reported earnings, Adlai Nortye Ltd. generates $0.52 in operating cash flow (-$56.7M OCF vs -$109.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Adlai Nortye Ltd. generated $5.0M in revenue in fiscal year 2025.
Adlai Nortye Ltd. reported -$109.2M in net income in fiscal year 2025. This represents a decrease of 110.6% from the prior year.
Cash & Balance Sheet
Adlai Nortye Ltd. generated -$56.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 9.4% from the prior year.
Adlai Nortye Ltd. held $60.9M in cash against $425K in long-term debt as of fiscal year 2025.
Adlai Nortye Ltd. had 103M shares outstanding in fiscal year 2025.
Margins & Returns
Adlai Nortye Ltd.'s net profit margin was -2184.6% in fiscal year 2025, showing the share of revenue converted to profit.
Adlai Nortye Ltd.'s ROE was -428.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 225.1 percentage points from the prior year.
Capital Allocation
Adlai Nortye Ltd. invested $200K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 17.6% from the prior year.
ANL Income Statement
| Metric | Q3'25 | Q3'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A |
| Cost of Revenue | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A |
| SG&A Expenses | N/A | N/A | N/A | N/A |
| Operating Income | N/A | N/A | N/A | N/A |
| Interest Expense | N/A | N/A | N/A | N/A |
| Income Tax | N/A | N/A | N/A | N/A |
| Net Income | N/A | N/A | N/A | N/A |
| EPS (Diluted) | N/A | N/A | N/A | N/A |
ANL Balance Sheet
| Metric | Q3'25 | Q3'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|
| Total Assets | $71.3M-45.3% | $130.2M+79.3% | $72.6M | N/A |
| Current Assets | $64.1M-36.7% | $101.2M+52.6% | $66.3M | N/A |
| Cash & Equivalents | $60.9M-33.4% | $91.5M+114.0% | $42.8M-33.3% | $64.1M |
| Inventory | N/A | N/A | N/A | N/A |
| Accounts Receivable | N/A | N/A | N/A | N/A |
| Goodwill | N/A | N/A | N/A | N/A |
| Total Liabilities | $45.8M-17.0% | $55.1M-82.4% | $313.9M | N/A |
| Current Liabilities | $45.4M-8.7% | $49.7M-84.1% | $312.7M | N/A |
| Long-Term Debt | $425K-9.4% | $469K-62.1% | $1.2M-88.2% | $10.5M |
| Total Equity | $25.5M-66.0% | $75.0M+131.1% | -$241.3M-30.1% | -$185.4M |
| Retained Earnings | -$429.3M-13.7% | -$377.4M-40.7% | -$268.2M | N/A |
ANL Cash Flow Statement
| Metric | Q3'25 | Q3'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | N/A | N/A |
| Capital Expenditures | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A |
| Investing Cash Flow | N/A | N/A | N/A | N/A |
| Financing Cash Flow | N/A | N/A | N/A | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A |
ANL Financial Ratios
| Metric | Q3'25 | Q3'24 | Q3'23 | Q3'22 |
|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A |
| Operating Margin | N/A | N/A | N/A | N/A |
| Net Margin | N/A | N/A | N/A | N/A |
| Return on Equity | N/A | N/A | N/A | N/A |
| Return on Assets | N/A | N/A | N/A | N/A |
| Current Ratio | 1.41-0.6 | 2.04+1.8 | 0.21 | N/A |
| Debt-to-Equity | 0.02+0.0 | 0.01+0.0 | -0.01+0.1 | -0.06 |
| FCF Margin | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Adlai Nortye Ltd.'s annual revenue?
Adlai Nortye Ltd. (ANL) reported $5.0M in total revenue for fiscal year 2025. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
Is Adlai Nortye Ltd. profitable?
No, Adlai Nortye Ltd. (ANL) reported a net income of -$109.2M in fiscal year 2025, with a net profit margin of -2184.6%.
How much debt does Adlai Nortye Ltd. have?
As of fiscal year 2025, Adlai Nortye Ltd. (ANL) had $60.9M in cash and equivalents against $425K in long-term debt.
What is Adlai Nortye Ltd.'s net profit margin?
Adlai Nortye Ltd. (ANL) had a net profit margin of -2184.6% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Adlai Nortye Ltd.'s return on equity (ROE)?
Adlai Nortye Ltd. (ANL) has a return on equity of -428.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Adlai Nortye Ltd.'s free cash flow?
Adlai Nortye Ltd. (ANL) generated -$56.9M in free cash flow during fiscal year 2025. This represents a -9.4% 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 Adlai Nortye Ltd.'s operating cash flow?
Adlai Nortye Ltd. (ANL) generated -$56.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Adlai Nortye Ltd.'s total assets?
Adlai Nortye Ltd. (ANL) had $71.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Adlai Nortye Ltd.'s capital expenditures?
Adlai Nortye Ltd. (ANL) invested $200K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Adlai Nortye Ltd.'s current ratio?
Adlai Nortye Ltd. (ANL) had a current ratio of 1.41 as of fiscal year 2025, which is considered adequate.
What is Adlai Nortye Ltd.'s debt-to-equity ratio?
Adlai Nortye Ltd. (ANL) had a debt-to-equity ratio of 0.02 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Adlai Nortye Ltd.'s return on assets (ROA)?
Adlai Nortye Ltd. (ANL) had a return on assets of -153.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Adlai Nortye Ltd.'s cash runway?
Based on fiscal year 2025 data, Adlai Nortye Ltd. (ANL) had $60.9M in cash against an annual operating cash burn of $56.7M. This gives an estimated cash runway of approximately 13 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 Adlai Nortye Ltd.'s Piotroski F-Score?
Adlai Nortye Ltd. (ANL) 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 Adlai Nortye Ltd.'s earnings high quality?
Adlai Nortye Ltd. (ANL) has an earnings quality ratio of 0.52x, 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.
How financially healthy is Adlai Nortye Ltd.?
Adlai Nortye Ltd. (ANL) scores 26 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.