What is Cogent Biosciences, Inc.'s earnings per share (EPS)?

Cogent Biosciences, Inc. (COGT) reported diluted earnings per share of -$2.16 for fiscal year 2025. This represents a -11.3% 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.

Cogent Biosciences, Inc. (COGT) Financials

COGT

FY2025 annual

Net Income -$328.9M -28.6% YoY

EPS (Diluted) -$2.16 -11.3% YoY

Free Cash Flow -$266.0M -27.7% YoY

Operating Cash Flow -$264.4M -27.3% YoY

Market Cap $5.5B as of Oct 21, 2026

Price / Sales n/m no revenue reported

Price / Earnings n/m net loss, so no earnings multiple, FY2025

Price / Book 10.2x on $532.4M equity, Q2 FY2026

A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 21, 2026; every other figure is from the SEC filings on this page. Not financial advice.

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 10, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the COGT SEC filings page.

This page shows Cogent Biosciences, Inc. (COGT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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 COGT FY2025 2026-10-03

Cogent remains a development-stage business: escalating R&D drives cash consumption, while 2025 financing rebuilt assets faster than losses depleted them.

The near-match between a 2025 net loss of $329M and operating cash outflow of $264M shows that accounting losses are translating into substantial cash use. With capital spending of only $1.6M, the cash profile points to a research-led operating model rather than a physically capital-intensive one.

Losses and operating cash outflow widened each year from FY2021 through FY2025, while R&D rose from $56M to $270M; that combination describes a company scaling development investment before revenue appears in the supplied annual data.

The $878M financing inflow rebuilt the balance sheet, but $223M of long-term debt means the expansion was not created solely through equity. The reported liquidity comparison was 40.9 months of latest annual operating outflow and the current ratio was 14.2x, indicating substantial short-term resources relative to near-term liabilities at FY2025.

Financial Health Signals

Financial health score not available

Cogent Biosciences, Inc. does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.

Piotroski F-Score Partial

3/7

Cogent Biosciences, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

N/A

Cogent Biosciences, Inc. reported a net loss of $328.9M while operations used $264.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Cogent Biosciences, Inc. reported an operating loss of $333.4M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.

Key Financial Metrics

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Earnings & Revenue

EBITDA

-$101.9M

YoY-36.0%

QoQ+1.1%

Cogent Biosciences, Inc.'s EBITDA was -$101.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 36.0% from the same quarter a year earlier. Against the prior quarter it is up 1.1%.

Net Income

-$96.4M

YoY-31.1%

QoQ+1.0%

Cogent Biosciences, Inc. reported -$96.4M in net income in Q2 2026. This represents a decrease of 31.1% from the same quarter a year earlier. Against the prior quarter it is up 1.0%.

EPS (Diluted)

-$0.52

YoY+1.9%

QoQ+1.9%

Cogent Biosciences, Inc. earned -$0.52 per diluted share (EPS) in Q2 2026. This represents an increase of 1.9% from the same quarter a year earlier. Against the prior quarter it is up 1.9%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$77.6M

YoY-42.0%

QoQ+11.1%

Cogent Biosciences, Inc. recorded an outflow of $77.6M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 42.0% from the same quarter a year earlier. Against the prior quarter it is up 11.1%.

Cash & Debt

$181.2M

YoY+42.0%

QoQ-24.9%

5Y CAGR-3.6%

Cogent Biosciences, Inc. held $181.2M in cash against $223.5M in long-term debt as of Q2 2026.

Shares Outstanding

174M

YoY+24.2%

QoQ+1.6%

5Y CAGR+34.2%

Cogent Biosciences, Inc. had 174M shares outstanding in Q2 2026. This represents an increase of 24.2% from the same quarter a year earlier. Against the prior quarter it is up 1.6%.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-18.1%

YoY+29.3pp

QoQ-2.1pp

Cogent Biosciences, Inc.'s ROE was -18.1% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 29.3 percentage points from the same quarter a year earlier. Against the prior quarter it is down 2.1 percentage points.

Gross Margin

Not reported for Q2 2026.

Operating Margin

Not reported for Q2 2026.

Net Margin

Not reported for Q2 2026.

Capital Allocation

R&D Spending

$70.8M

YoY+13.8%

QoQ-6.0%

Cogent Biosciences, Inc. invested $70.8M in research and development in Q2 2026. This represents an increase of 13.8% from the same quarter a year earlier. Against the prior quarter it is down 6.0%.

Capital Expenditures

$370K

YoY+182.4%

QoQ-17.6%

Cogent Biosciences, Inc. invested $370K in capex in Q2 2026, funding long-term assets and infrastructure. This represents an increase of 182.4% from the same quarter a year earlier. Against the prior quarter it is down 17.6%.

Share Buybacks

Not reported for Q2 2026.

COGT Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

COGT quarterly income statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$7.9M-65.0%	$22.5M+131.1%	$9.7M+16.4%	$8.4M
R&D Expenses	N/A	$269.8M+16.0%	$232.7M+33.9%	$173.8M+42.9%	$121.6M+117.5%	$55.9M+117.2%	$25.7M-41.1%	$43.7M+14.2%	$38.3M+28.3%	$29.8M
SG&A Expenses	N/A	$63.6M+46.9%	$43.3M+25.9%	$34.4M+31.1%	$26.2M+33.5%	$19.6M+12.7%	$17.4M+58.8%	$11.0M+47.1%	$7.5M+59.3%	$4.7M
Operating Income	N/A	-$333.4M-20.8%	-$275.9M-32.6%	-$208.1M-40.8%	-$147.8M-95.7%	-$75.6M+8.1%	-$82.2M-155.5%	-$32.2M+10.6%	-$36.0M-37.7%	-$26.2M
EBITDA	N/A	-$330.8M-21.0%	-$273.4M-32.8%	-$205.8M-40.0%	-$147.0M-95.0%	-$75.4M+7.5%	-$81.5M-163.8%	-$30.9M+11.0%	-$34.7M-38.8%	-$25.0M
Interest Expense	N/A	$3.1M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	-$328.9M-28.6%	-$255.9M-33.0%	-$192.4M-37.2%	-$140.2M-94.0%	-$72.3M+3.4%	-$74.8M-135.0%	-$31.8M+7.8%	-$34.5M-35.5%	-$25.5M
EPS (Basic)	N/A	-$2.16-11.3%	-$1.940.0%	-$1.94-12.1%	-$1.73+7.5%	-$1.87	N/A	N/A	N/A	N/A
EPS (Diluted)	-$2.16	-$2.16-11.3%	-$1.940.0%	-$1.94-12.1%	-$1.73	-$1.87	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	129M+24.1%	104M+30.4%	80M+35.6%	59M	39M	N/A	N/A	N/A	N/A

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
R&D Expenses	$70.8M+13.8%	$75.4M+19.6%	N/A	$69.0M+8.4%	$62.2M+14.6%	$63.0M+19.6%	N/A	$63.6M+26.9%
SG&A Expenses	$31.8M+137.9%	$28.2M+137.2%	N/A	$14.4M+21.7%	$13.4M+32.6%	$11.9M+22.7%	N/A	$11.8M+24.8%
Operating Income	-$102.6M-35.8%	-$103.6M-38.3%	N/A	-$83.4M-10.5%	-$75.6M-17.4%	-$74.9M-20.1%	N/A	-$75.4M-26.6%
EBITDA	-$101.9M-36.0%	-$103.0M-38.6%	N/A	-$82.7M-10.6%	-$74.9M-17.5%	-$74.3M-20.2%	N/A	-$74.8M-26.8%
Interest Expense	$1.2M+287.6%	$1.2M	N/A	$1.5M	$314K	N/A	N/A	N/A
Net Income	-$96.4M-31.1%	-$97.4M-35.2%	N/A	-$80.9M-14.6%	-$73.5M-24.7%	-$72.0M-23.4%	N/A	-$70.6M-27.5%
EPS (Basic)	-$0.52+1.9%	-$0.53-1.9%	-$0.61-22.0%	-$0.50+3.8%	-$0.53-23.3%	-$0.52-6.1%	-$0.50-233.3%	-$0.52+18.8%
EPS (Diluted)	-$0.52+1.9%	-$0.53-1.9%	-$0.61-22.0%	-$0.50+3.8%	-$0.53-23.3%	-$0.52-6.1%	-$0.50-233.3%	-$0.52
Diluted Shares (Avg)	171M+49.4%	162M+43.1%	N/A	138M+24.9%	114M+15.3%	113M+19.5%	N/A	110M

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Income Tax.

COGT Balance Sheet

COGT quarterly balance sheet

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Total Assets	$937.6M+185.9%	$327.9M+4.6%	$313.4M+4.2%	$300.8M+29.6%	$232.1M-7.5%	$250.9M+407.7%	$49.4M-42.5%	$85.9M+75.0%	$49.1M
Current Assets	$910.4M+207.1%	$296.5M+9.5%	$270.8M+2.2%	$265.0M+19.0%	$222.6M-9.1%	$244.9M+503.4%	$40.6M-49.9%	$81.0M+91.1%	$42.4M
Cash & Equivalents	$312.0M+217.8%	$98.2M+84.4%	$53.2M-61.9%	$139.9M-36.3%	$219.7M-9.3%	$242.2M+547.2%	$37.4M-32.8%	$55.7M+96.9%	$28.3M
Short-Term Investments	$588.8M+211.7%	$188.9M-11.1%	$212.5M+78.0%	$119.4M	$0	$0	$0-100.0%	$22.9M+80.6%	$12.7M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	$2.0M+19.9%	$1.7M+101.0%	$830K
Long-Term Investments	$0	$0-100.0%	$7.5M	$0	$0	$0	$0	$0	$0
Total Liabilities	$301.2M+320.7%	$71.6M+28.7%	$55.6M+23.4%	$45.1M+151.7%	$17.9M+10.2%	$16.2M-8.0%	$17.7M-31.3%	$25.7M-73.8%	$98.0M
Current Liabilities	$64.0M+14.8%	$55.7M+46.0%	$38.2M+42.2%	$26.8M+57.2%	$17.1M+30.4%	$13.1M-1.2%	$13.2M-46.9%	$24.9M+122.9%	$11.2M
Non-Current Liabilities	$237.3M+1392.2%	$15.9M-9.0%	$17.5M-4.2%	$18.2M+2093.3%	$831K-73.7%	$3.2M-28.5%	$4.4M+490.0%	$748K-99.1%	$86.8M
Long-Term Debt	$222.9M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$636.4M+148.3%	$256.3M-0.6%	$257.8M+0.8%	$255.7M+19.4%	$214.2M-8.7%	$234.7M+638.8%	$31.8M-47.3%	$60.2M+223.3%	-$48.8M
Retained Earnings	-$1.2B-38.3%	-$859.5M-42.4%	-$603.6M-46.8%	-$411.2M-51.8%	-$271.0M-36.4%	-$198.7M-60.4%	-$123.9M-34.6%	-$92.1M-79.3%	-$51.3M

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Total Assets	$834.5M+203.7%	$903.0M+218.2%	$937.6M+185.9%	$425.9M+10.9%	$274.8M-36.1%	$283.8M-40.4%	$327.9M+4.6%	$384.0M+8.0%
Current Assets	$804.8M+228.5%	$877.8M+247.1%	$910.4M+207.1%	$397.2M+16.3%	$245.0M-33.8%	$252.9M-42.8%	$296.5M+9.5%	$341.5M+19.4%
Cash & Equivalents	$181.2M+42.0%	$241.2M+91.4%	$312.0M+217.8%	$125.3M+29.1%	$127.6M+44.6%	$126.0M-41.6%	$98.2M+84.4%	$97.0M+11.8%
Short-Term Investments	$611.1M+454.3%	$625.2M+422.5%	$588.8M+211.7%	$265.6M+11.4%	$110.3M-59.9%	$119.7M-45.6%	$188.9M-11.1%	$238.5M+24.1%
Long-Term Investments	$0	$0	$0	$0-100.0%	$0-100.0%	$0	$0-100.0%	$10.0M-70.3%
Total Liabilities	$302.2M+152.3%	$295.3M+355.7%	$301.2M+320.7%	$123.5M+78.0%	$119.8M+111.2%	$64.8M+20.5%	$71.6M+28.7%	$69.4M+32.0%
Current Liabilities	$59.3M+1.5%	$58.0M+17.6%	$64.0M+14.8%	$62.2M+17.3%	$58.4M+46.0%	$49.3M+34.4%	$55.7M+46.0%	$53.0M+52.8%
Non-Current Liabilities	$242.9M+295.8%	$237.3M+1432.7%	$237.3M+1392.2%	$61.2M+275.4%	$61.4M+267.2%	$15.5M-9.4%	$15.9M-9.0%	$16.3M-8.5%
Long-Term Debt	$223.5M+408.4%	$223.2M	$222.9M	$44.3M	$43.9M	N/A	$0	N/A
Total Equity	$532.4M+243.4%	$607.7M+177.5%	$636.4M+148.3%	$302.5M-3.9%	$155.0M-58.5%	$219.0M-48.1%	$256.3M-0.6%	$314.7M+3.9%
Retained Earnings	-$1.4B-37.5%	-$1.3B-38.0%	-$1.2B-38.3%	-$1.1B-37.2%	-$1.0B-39.4%	-$931.5M-40.7%	-$859.5M-42.4%	-$791.6M-44.1%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.

COGT Cash Flow Statement

COGT quarterly cash flow statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Operating Cash Flow	-$307.5M	-$264.4M-27.3%	-$207.8M-35.3%	-$153.6M-29.5%	-$118.6M-101.9%	-$58.8M-63.9%	-$35.9M+13.6%	-$41.5M-27.8%	-$32.5M-25.8%	-$25.8M
Depreciation & Amortization	N/A	$2.6M+4.0%	$2.5M+8.7%	$2.3M+187.5%	$800K+444.2%	$147K-79.6%	$720K-44.3%	$1.3M-2.1%	$1.3M+12.8%	$1.2M
Stock-Based Compensation	N/A	$46.1M+16.0%	$39.7M+29.8%	$30.6M+66.7%	$18.4M+57.2%	$11.7M+94.2%	$6.0M+85.7%	$3.2M+5.0%	$3.1M+130.3%	$1.3M
Capital Expenditures	$1.7M	$1.6M+171.2%	$573K-79.5%	$2.8M-59.3%	$6.9M+299.2%	$1.7M	N/A	$33K-94.0%	$549K-39.8%	$912K
Free Cash Flow	-$309.2M	-$266.0M-27.7%	-$208.4M-33.2%	-$156.4M-24.6%	-$125.5M-107.5%	-$60.5M	N/A	-$41.5M-25.8%	-$33.0M-23.5%	-$26.7M
Investing Cash Flow	-$500.0M	-$399.5M-1143.8%	$38.3M+139.1%	-$97.8M+21.6%	-$124.7M-7155.3%	-$1.7M-120.4%	$8.4M-63.6%	$23.2M+319.9%	-$10.5M-177.5%	$13.6M
Financing Cash Flow	$861.5M	$878.2M+309.5%	$214.5M+31.1%	$163.5M0.0%	$163.6M+330.7%	$38.0M-83.6%	$232.2M+214896.3%	$108K-99.8%	$70.3M+9749.7%	-$729K

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Operating Cash Flow	-$77.3M-41.7%	-$86.9M-30.6%	-$79.1M-30.6%	-$64.3M-23.7%	-$54.5M-27.7%	-$66.5M-26.6%	-$60.6M-37.5%	-$52.0M-36.9%
Depreciation & Amortization	$741K+13.1%	$626K-2.2%	$664K-1.6%	$641K+3.4%	$655K+8.1%	$640K+6.8%	$675K+7.5%	$620K+6.7%
Stock-Based Compensation	$17.1M+76.1%	$16.9M+68.9%	N/A	$10.6M+2.4%	$9.7M-3.0%	$10.0M+6.5%	N/A	$10.4M+18.3%
Capital Expenditures	$370K+182.4%	$449K-17.9%	$811K+981.3%	$65K-76.8%	$131K-11.5%	$547K+681.4%	$75K-76.2%	$280K+131.4%
Free Cash Flow	-$77.6M-42.0%	-$87.3M-30.2%	-$79.9M-31.8%	-$64.4M-23.1%	-$54.7M-27.6%	-$67.1M-27.5%	-$60.7M-36.6%	-$52.3M-37.2%
Investing Cash Flow	$14.3M+60.3%	-$36.5M-152.5%	-$322.8M-623.4%	-$155.0M-357.6%	$8.9M+110.5%	$69.4M+6545.5%	$61.7M+488.0%	$60.2M+166.5%
Financing Cash Flow	$3.0M-93.7%	$52.5M+110.4%	$588.7M+2264011.5%	$217.4M+34734.5%	$47.2M+18548.0%	$25.0M-88.3%	$26K	$624K-37.6%

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

COGT Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.

COGT quarterly financial ratios

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY22DEF 14A	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	-1044.3%	-143.0%	-369.9%	-312.8%
Net Margin	N/A	N/A	N/A	N/A	N/A	-950.4%	-141.5%	-354.8%	-304.9%
Return on Equity	-51.7%+48.1pp	-99.8%-25.2pp	-74.6%-19.8pp	-54.8%-21.1pp	-33.7%-1.9pp	-31.9%+68.3pp	-100.2%-42.9pp	-57.3%	N/A
Return on Assets	-35.1%+43.0pp	-78.0%-16.6pp	-61.4%-14.8pp	-46.6%-15.5pp	-31.1%-1.3pp	-29.8%+34.6pp	-64.4%-24.2pp	-40.2%+11.7pp	-51.9%
Current Ratio	14.23+8.9x	5.32-1.8x	7.09-2.8x	9.87-3.2x	13.04-5.7x	18.70+15.6x	3.06-0.2x	3.25-0.5x	3.79
Debt-to-Equity	0.35+0.4x	0.00-0.2x	0.220.0x	0.18+0.1x	0.080.0x	0.07-0.5x	0.56+0.1x	0.43	N/A
Asset Turnover	N/A	N/A	N/A	N/A	N/A	0.03-0.4x	0.46+0.3x	0.11-0.1x	0.17
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-184.7%	-339.4%	-319.9%

Metric	Q2'2610-Q	Q1'2610-Q	Q4'2510-Q	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-K	Q3'2410-Q
Return on Equity	-18.1%+29.3pp	-16.0%+16.8pp	N/A	-26.8%-4.3pp	-47.4%-31.6pp	-32.9%-19.1pp	N/A	-22.4%-4.2pp
Return on Assets	-11.6%+15.2pp	-10.8%+14.6pp	N/A	-19.0%-0.6pp	-26.8%-13.1pp	-25.4%-13.1pp	N/A	-18.4%-2.8pp
Current Ratio	13.57+9.4x	15.14+10.0x	14.23+8.9x	6.38-0.1x	4.19-5.1x	5.13-6.9x	5.32-1.8x	6.44-1.8x
Debt-to-Equity	0.42+0.1x	0.37+0.1x	0.35+0.4x	0.15-0.1x	0.28+0.1x	0.30+0.2x	0.00-0.2x	0.220.0x

Not reported in any period shown, so not listed: Gross Margin, Operating Margin, Net Margin, Asset Turnover, FCF Margin.

Similar Companies

Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.

Company	Fiscal year	Revenue	Net income	Net margin	Market cap	Health score
Cogent Biosciences, Inc. COGT	FY2025	N/A	-$328.9M	N/A	$5.5B	—
Celldex Therapeutics, Inc CLDX	FY2025	$1.5M	-$258.8M	N/A	$2.3B	54/100
Dyne Therapeutics, Inc. DYN	FY2025	N/A	-$446	N/A	$3.0B	—
Immunocore Holdings plc IMCR	FY2025	$400.0M	-$35.5M	-8.9%	$1.7B	65/100
Aurinia Pharmaceuticals Inc AUPH	FY2025	$283.1M	$287.2M	N/A	$2.2B	56/100
Mesoblast Limited MESO	FY2025	$17.2M	-$102.1M	N/A	$1.7B	28/100

Where Cogent Biosciences, Inc. Ranks

Frequently Asked Questions

Is Cogent Biosciences, Inc. profitable?

No, Cogent Biosciences, Inc. (COGT) reported a net income of -$328.9M in fiscal year 2025.

What is Cogent Biosciences, Inc.'s EBITDA?

Cogent Biosciences, Inc. (COGT) had EBITDA of -$330.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Cogent Biosciences, Inc. have?

As of fiscal year 2025, Cogent Biosciences, Inc. (COGT) had $312.0M in cash and equivalents against $222.9M in long-term debt.

What is Cogent Biosciences, Inc.'s return on equity (ROE)?

Cogent Biosciences, Inc. (COGT) has a return on equity of -51.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Cogent Biosciences, Inc.'s free cash flow?

Cogent Biosciences, Inc. (COGT) recorded an outflow of $266.0M in free cash flow during fiscal year 2025. This represents a -27.7% 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 Cogent Biosciences, Inc.'s operating cash flow?

Cogent Biosciences, Inc. (COGT) recorded an outflow of $264.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Cogent Biosciences, Inc.'s total assets?

Cogent Biosciences, Inc. (COGT) had $937.6M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Cogent Biosciences, Inc.'s capital expenditures?

Cogent Biosciences, Inc. (COGT) invested $1.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Cogent Biosciences, Inc. spend on research and development?

Cogent Biosciences, Inc. (COGT) invested $269.8M in research and development during fiscal year 2025.

How many shares does Cogent Biosciences, Inc. have outstanding?

Cogent Biosciences, Inc. (COGT) had 162M shares outstanding as of fiscal year 2025.

What is Cogent Biosciences, Inc.'s current ratio?

Cogent Biosciences, Inc. (COGT) had a current ratio of 14.23 as of fiscal year 2025, which is generally considered healthy.

What is Cogent Biosciences, Inc.'s debt-to-equity ratio?

Cogent Biosciences, Inc. (COGT) had a debt-to-equity ratio of 0.35 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cogent Biosciences, Inc.'s return on assets (ROA)?

Cogent Biosciences, Inc. (COGT) had a return on assets of -35.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Cogent Biosciences, Inc.'s P/E ratio?

Cogent Biosciences, Inc. (COGT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $5.5B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Cogent Biosciences, Inc.'s price-to-sales ratio?

Cogent Biosciences, Inc. (COGT) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $5.5B as of Oct 21, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

How does Cogent Biosciences, Inc.'s liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Cogent Biosciences, Inc. (COGT) held $900.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $264.4M over that year. Dividing the one by the other, the reported balance equals about 41 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.

What is Cogent Biosciences, Inc.'s Piotroski F-Score?

Cogent Biosciences, Inc. (COGT) has a Piotroski F-Score of 3 out of 7 computable signals; 2 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Cogent Biosciences, Inc.'s earnings high quality?

Cogent Biosciences, Inc. (COGT) reported a net loss of $328.9M while operations used $264.4M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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 Cogent Biosciences, Inc. cover its interest payments?

Cogent Biosciences, Inc. (COGT) reported an operating loss of $333.4M against $3.1M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.