What is Check Cap's earnings per share (EPS)?

Check Cap (CHEK) reported diluted earnings per share of $0.66 for fiscal year 2025. This represents a 115.3% 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.

Check Cap Financials

CHEK

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Check Cap (CHEK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 13 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 CHEK FY2024 2026-04-27

A cash-burning development model steadily consumed assets until liquidity, not debt, became the binding constraint.

FY2023's cash balance improvement was not an operating recovery: operating cash flow stayed at -$17.0M, but investing cash flow flipped to $21.4M, temporarily offsetting the burn. By FY2024, with cash down to $265K and the current ratio at 0.1x, that non-operating cushion had effectively run out.

In FY2022 and FY2023, net losses of -$19.1M and -$17.6M closely matched operating cash outflows, so the losses were not mainly accounting noise or working-capital timing. For a company with no reported revenue, that means the operating model depended on external funding or asset monetization, not on customers replenishing cash.

The expense mix also tilted away from pure development: SG&A exceeded R&D in FY2023 at $9.6M versus $8.3M, after R&D had been the larger line through FY2022. Meanwhile equity swung from $23.7M in FY2023 to negative equity of -$1.5M in FY2024, even though liabilities were only $1.8M, pointing to asset depletion rather than debt-funded expansion.

Financial Health Signals

Financial Profile 30/100

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 Check Cap'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

Check Cap carries a low D/E ratio of 1.18, meaning only $1.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 78/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Check Cap's current ratio of 0.05 is below the typical benchmark, resulting in a score of 0/100. This tight liquidity could limit financial flexibility if cash inflows slow.

Returns

100

Check Cap earns a strong 120.4% return on equity (ROE), meaning it generates $120 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Weak

1/9

Check Cap passes 1 of 9 financial strength tests. 1 of 3 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

-0.01x

For every $1 of reported earnings, Check Cap generates $-0.01 in operating cash flow (-$46K OCF vs $4.1M 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

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Earnings & Revenue

Revenue

N/A

EBITDA

-$2.4M

Check Cap's EBITDA was -$2.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Net Income

$4.1M

Check Cap reported $4.1M in net income in fiscal year 2025.

EPS (Diluted)

$0.66

YoY+115.3%

Check Cap earned $0.66 per diluted share (EPS) in fiscal year 2025. This represents an increase of 115.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$129K

Check Cap generated -$129K in free cash flow in fiscal year 2025, representing cash available after capex.

Cash & Debt

$2K

YoY-99.2%

5Y CAGR-80.8%

10Y CAGR-57.1%

Check Cap held $2K in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

YoY+20.0%

Check Cap had 7M shares outstanding in fiscal year 2025. This represents an increase of 20.0% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

120.4%

5Y CAGR+205.0pp

10Y CAGR+217.6pp

Check Cap's ROE was 120.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$8.3M

5Y CAGR-3.6%

10Y CAGR+3.6%

Check Cap invested $8.3M in research and development in fiscal year 2025.

Share Buybacks

N/A

Capital Expenditures

$83K

5Y CAGR-26.2%

10Y CAGR-11.1%

Check Cap invested $83K in capex in fiscal year 2025, funding long-term assets and infrastructure.

CHEK Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	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
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$8.3M	N/A	$8.3M-41.8%	$14.3M+15.6%	$12.3M+23.4%	$10.0M
SG&A Expenses	$2.4M	N/A	$9.6M+65.7%	$5.8M+15.9%	$5.0M+26.7%	$3.9M
Operating Income	-$2.4M	N/A	-$19.3M+3.7%	-$20.0M-15.7%	-$17.3M-24.3%	-$13.9M
Interest Expense	N/A	N/A	$13K+8.3%	$12K-7.7%	$13K+8.3%	$12K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	$4.1M	N/A	-$17.6M+8.1%	-$19.1M-11.1%	-$17.2M-24.2%	-$13.8M
EPS (Diluted)	$0.66+115.3%	$-4.30-43.3%	$-3.00-189.0%	$3.37	$4.14-54.1%	$9.01

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q1'23	Q4'22
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	N/A	N/A	N/A	N/A	N/A	$4.5M	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	$1.6M	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	-$7.4M	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	-$6.9M-54.8%	-$4.4M	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	$1.18	N/A	N/A

CHEK Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$7.5M+1885.7%	$377K-98.5%	$25.0M-44.9%	$45.4M-18.4%	$55.7M+183.4%	$19.6M
Current Assets	$219K-17.4%	$265K-98.9%	$24.9M-41.7%	$42.6M-19.2%	$52.8M+186.4%	$18.4M
Cash & Equivalents	$2K-99.2%	$265K-97.0%	$8.8M+116.2%	$4.1M-84.5%	$26.5M+243.5%	$7.7M
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	$4.0M+121.6%	$1.8M+37.4%	$1.3M-67.8%	$4.1M-16.9%	$5.0M+52.4%	$3.3M
Current Liabilities	$4.0M+123.6%	$1.8M+36.2%	$1.3M-61.0%	$3.4M-15.7%	$4.0M+35.6%	$3.0M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.4M+337.0%	-$1.4M-106.1%	$23.7M-42.7%	$41.3M-18.5%	$50.7M+209.5%	$16.4M
Retained Earnings	-$165.9M+2.4%	-$170.0M-17.4%	-$144.9M-13.8%	-$127.3M-17.7%	-$108.2M-18.9%	-$91.0M

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q1'23	Q4'22
Total Assets	$7.5M+29.9%	$5.8M+1428.9%	$377K-97.9%	$18.1M-27.7%	$25.0M-25.8%	$33.7M	N/A	$45.4M
Current Assets	$219K-84.5%	$1.4M+434.3%	$265K-98.5%	$18.0M-27.8%	$24.9M-25.3%	$33.3M	N/A	$42.6M
Cash & Equivalents	$2K-99.8%	$1.2M+335.8%	$265K-98.5%	$17.8M+101.5%	$8.8M+292.4%	$2.3M	N/A	$4.1M
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	$4.0M+102.3%	$2.0M+9.5%	$1.8M+100.1%	$913K-31.4%	$1.3M-62.4%	$3.5M	N/A	$4.1M
Current Liabilities	$4.0M+104.0%	$2.0M+9.6%	$1.8M+98.4%	$913K-31.4%	$1.3M-62.4%	$3.5M	N/A	$3.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$3.4M-8.7%	$3.8M+359.5%	-$1.4M-108.4%	$17.2M-27.5%	$23.7M-21.5%	$30.2M-18.5%	$37.0M-10.4%	$41.3M
Retained Earnings	-$165.9M-0.7%	-$164.8M+3.1%	-$170.0M-12.5%	-$151.2M-4.4%	-$144.9M-4.5%	-$138.6M	N/A	-$127.3M

CHEK Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$46K	N/A	-$17.0M+9.4%	-$18.7M-15.0%	-$16.3M-24.0%	-$13.1M
Capital Expenditures	$83K	N/A	$83K-82.9%	$486K-51.7%	$1.0M+165.4%	$379K
Free Cash Flow	-$129K	N/A	-$17.0M+11.2%	-$19.2M-11.1%	-$17.3M-28.0%	-$13.5M
Investing Cash Flow	$48K+105.7%	-$840K-103.9%	$21.4M+270.7%	-$12.5M+21.9%	-$16.0M-53.2%	-$10.5M
Financing Cash Flow	N/A	N/A	N/A	$8.8M-82.7%	$51.0M+116.4%	$23.6M
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	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q1'23	Q4'22
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
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

CHEK 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	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	120.4%	N/A	-74.2%-27.9pp	-46.3%-12.3pp	-33.9%+50.6pp	-84.5%
Return on Assets	55.3%	N/A	-70.2%-28.2pp	-42.0%-11.1pp	-30.9%+39.6pp	-70.5%
Current Ratio	0.05-0.1	0.15-18.5	18.69+6.2	12.51-0.5	13.05+6.9	6.18
Debt-to-Equity	1.18+2.4	-1.26-1.3	0.06-0.0	0.100.0	0.10-0.1	0.20
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q2'25	Q4'24	Q2'24	Q4'23	Q2'23	Q1'23	Q4'22
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	N/A	N/A	N/A	N/A	N/A	-22.8%-10.8pp	-12.0%	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	-20.4%	N/A	N/A
Current Ratio	0.05-0.7	0.71+0.6	0.15-19.5	19.66+1.0	18.69+9.3	9.41	N/A	12.51
Debt-to-Equity	1.18+0.6	0.53+1.8	-1.26-1.3	0.050.0	0.06-0.1	0.12	N/A	0.10
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Note: The current ratio is below 1.0 (0.05), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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Frequently Asked Questions

Is Check Cap profitable?

Yes, Check Cap (CHEK) reported a net income of $4.1M in fiscal year 2025.

What is Check Cap's EBITDA?

Check Cap (CHEK) had EBITDA of -$2.4M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Check Cap's return on equity (ROE)?

Check Cap (CHEK) has a return on equity of 120.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Check Cap's free cash flow?

Check Cap (CHEK) generated -$129K in free cash flow during fiscal year 2025. 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 Check Cap's operating cash flow?

Check Cap (CHEK) generated -$46K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Check Cap's total assets?

Check Cap (CHEK) had $7.5M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Check Cap's capital expenditures?

Check Cap (CHEK) invested $83K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Check Cap spend on research and development?

Check Cap (CHEK) invested $8.3M in research and development during fiscal year 2025.

How many shares does Check Cap have outstanding?

Check Cap (CHEK) had 7M shares outstanding as of fiscal year 2025.

What is Check Cap's current ratio?

Check Cap (CHEK) had a current ratio of 0.05 as of fiscal year 2025, which is below 1.0, which may suggest potential liquidity concerns.

What is Check Cap's debt-to-equity ratio?

Check Cap (CHEK) had a debt-to-equity ratio of 1.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Check Cap's return on assets (ROA)?

Check Cap (CHEK) had a return on assets of 55.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Check Cap's cash runway?

Based on fiscal year 2025 data, Check Cap (CHEK) had $2K in cash against an annual operating cash burn of $46K. This gives an estimated cash runway of approximately 1 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 Check Cap's Piotroski F-Score?

Check Cap (CHEK) 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 Check Cap's earnings high quality?

Check Cap (CHEK) has an earnings quality ratio of -0.01x, 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 Check Cap?

Check Cap (CHEK) scores 30 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.