What is Dbv Technologies S A's earnings per share (EPS)?

Dbv Technologies S A (DBVT) reported diluted earnings per share of $-1.05 for fiscal year 2025. This represents a 10.3% 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.

Dbv Technologies S A Financials

DBVT

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

This page shows Dbv Technologies S A (DBVT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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 DBVT FY2025 2026-04-30

DBV’s economics are driven by cash-funded R&D, with financing inflows — not revenue — supporting operations.

In FY2025, free cash flow of -$121.7M was almost the same as operating cash flow of -$121.2M while capital spending was only $532K, so the cash drain came from ongoing research and overhead rather than from building long-lived assets. That matters because revenue was just $5.6M against $116.7M of R&D, which makes the business mechanically dependent on outside funding instead of self-financing through sales.

FY2024 showed how quickly liquidity can tighten when financing pauses: cash fell to $32.5M and the current ratio dropped to 1.4x. FY2025 brought a financing reset with $276.2M of financing inflow, and cash recovered to $194.2M.

Because capital expenditures were only $532K in FY2025 and $2.3M in FY2024, this is not a plant-heavy business; it is cash-hungry because of research intensity. The funding burden therefore sits more on repeated capital raises than on borrowing, with debt-to-equity moving from 1.4x in FY2024 to 0.4x in FY2025.

Financial Health Signals

Financial Health Score 46/100

Scored as: Emerging companies peer group

Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Dbv Technologies S A'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.

Cash Runway

R&D Intensity

Revenue Progress

Burn Trend

Balance Sheet

Altman Z-Score Safe

5.19

Dbv Technologies S A scores 5.19, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($951.7M) relative to total liabilities ($64.9M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial

3/6

Dbv Technologies S A passes 3 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 2 of 4 profitability signals pass, all 1 leverage/liquidity signals pass, neither operating efficiency signal passes.

Earnings Quality Low Quality

0.82x

For every $1 of reported earnings, Dbv Technologies S A generates $0.82 in operating cash flow (-$121.2M OCF vs -$146.9M 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

$5.6M

YoY+35.8%

5Y CAGR-13.0%

Dbv Technologies S A generated $5.6M in revenue in fiscal year 2025. This represents an increase of 35.8% from the prior year.

EBITDA

-$144.1M

YoY-26.5%

Dbv Technologies S A's EBITDA was -$144.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 26.5% from the prior year.

Net Income

-$146.9M

YoY-29.0%

Dbv Technologies S A reported -$146.9M in net income in fiscal year 2025. This represents a decrease of 29.0% from the prior year.

EPS (Diluted)

$-1.05

YoY+10.3%

Dbv Technologies S A earned $-1.05 per diluted share (EPS) in fiscal year 2025. This represents an increase of 10.3% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$121.7M

YoY-14.0%

Dbv Technologies S A generated -$121.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 14.0% from the prior year.

Cash & Debt

$194.2M

YoY+498.3%

5Y CAGR-0.2%

Dbv Technologies S A held $194.2M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

N/A

Operating Margin

-2609.2%

YoY+199.5pp

5Y CAGR-1200.6pp

Dbv Technologies S A's operating margin was -2609.2% in fiscal year 2025, reflecting core business profitability. This is up 199.5 percentage points from the prior year.

Net Margin

-2607.3%

YoY+137.1pp

5Y CAGR-1192.3pp

Dbv Technologies S A's net profit margin was -2607.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 137.1 percentage points from the prior year.

Return on Equity

-87.1%

YoY+328.7pp

5Y CAGR-9.4pp

Dbv Technologies S A's ROE was -87.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 328.7 percentage points from the prior year.

Capital Allocation

R&D Spending

$116.7M

YoY+30.6%

5Y CAGR+2.8%

Dbv Technologies S A invested $116.7M in research and development in fiscal year 2025. This represents an increase of 30.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$532K

YoY-77.2%

5Y CAGR-28.2%

Dbv Technologies S A invested $532K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 77.2% from the prior year.

DBVT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$5.6M+35.8%	$4.2M-73.6%	$15.7M+224.7%	$4.8M-15.1%	$5.7M-49.4%	$11.3M
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	$116.7M+30.6%	$89.3M+48.4%	$60.2M-20.3%	$75.5M+7.4%	$70.3M-30.8%	$101.6M
SG&A Expenses	$32.8M+14.1%	$28.7M-2.6%	$29.5M+21.3%	$24.3M-20.3%	$30.5M-13.0%	$35.1M
Operating Income	-$147.1M-26.1%	-$116.6M-52.5%	-$76.4M+20.9%	-$96.6M+2.0%	-$98.6M+37.9%	-$158.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$491K+792.7%	$55K+685.7%	$7K-90.0%	$70K+118.4%	-$381K-3710.0%	-$10K
Net Income	-$146.9M-29.0%	-$113.9M-56.7%	-$72.7M-175.5%	$96.3M+198.4%	-$97.8M+38.7%	-$159.6M
EPS (Diluted)	$-1.05+10.3%	$-1.17-53.9%	$-0.76+38.7%	$-1.24+30.3%	$-1.78	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	$900K+50.8%	$597K-78.5%	$2.8M+89.4%	$1.5M+83.1%	$800K+56.6%	$511K-52.3%	$1.1M-7.7%	$1.2M
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	$33.4M+1.6%	$32.9M+14.9%	$28.6M-15.1%	$33.7M+56.7%	$21.5M+13.7%	$18.9M-20.1%	$23.7M-6.7%	$25.4M
SG&A Expenses	$10.5M-8.4%	$11.5M+58.0%	$7.3M-14.2%	$8.5M+51.1%	$5.6M+10.4%	$5.1M-29.8%	$7.2M-16.5%	$8.6M
Operating Income	-$47.9M-6.3%	-$45.1M-31.5%	-$34.3M+16.6%	-$41.1M-54.6%	-$26.6M-11.5%	-$23.9M+21.3%	-$30.3M+10.4%	-$33.8M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$200K-46.5%	$374K	$0-100.0%	$117K	$0-100.0%	$7K	$0	$0
Net Income	-$47.6M-6.2%	-$44.8M-35.1%	-$33.2M+20.8%	-$41.9M-54.5%	-$27.1M-17.7%	-$23.0M+24.4%	-$30.4M+8.1%	-$33.1M
EPS (Diluted)	$-0.11	N/A	$-0.24+22.6%	$-0.31-19.2%	$-0.26	N/A	$-0.32+5.9%	$-0.34

DBVT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$233.7M+255.9%	$65.7M-64.1%	$183.0M-25.8%	$246.5M+68.0%	$146.7M-46.1%	$272.2M
Current Assets	$212.9M+379.6%	$44.4M-72.1%	$158.9M-28.8%	$223.1M+95.0%	$114.4M-44.8%	$207.4M
Cash & Equivalents	$194.2M+498.3%	$32.5M-77.0%	$141.4M-32.4%	$209.2M+170.6%	$77.3M-60.6%	$196.4M
Inventory	N/A	N/A	N/A	N/A	N/A	$0
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	$64.9M+69.6%	$38.3M-10.6%	$42.8M-17.8%	$52.1M+9.7%	$47.4M-28.9%	$66.8M
Current Liabilities	$58.0M+86.3%	$31.1M-16.6%	$37.3M+26.5%	$29.5M-6.0%	$31.4M-40.4%	$52.7M
Long-Term Debt	N/A	N/A	N/A	N/A	$510K-59.7%	$1.3M
Total Equity	$168.8M+516.1%	$27.4M-80.5%	$140.2M-27.9%	$194.5M+95.9%	$99.3M-51.7%	$205.5M
Retained Earnings	-$393.1M-37.3%	-$286.4M-19.9%	-$238.9M+8.0%	-$259.6M-0.4%	-$258.5M+73.0%	-$958.5M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$266.4M+14.0%	$233.7M+111.5%	$110.5M-23.0%	$143.4M+183.7%	$50.6M-23.0%	$65.7M-29.4%	$93.1M-18.5%	$114.2M
Current Assets	$246.7M+15.9%	$212.9M+139.5%	$88.9M-26.7%	$121.2M+315.9%	$29.1M-34.3%	$44.4M-35.4%	$68.8M-23.6%	$90.0M
Cash & Equivalents	$229.2M+18.0%	$194.2M+178.1%	$69.8M-32.3%	$103.2M+696.2%	$13.0M-60.1%	$32.5M-30.1%	$46.4M-29.9%	$66.2M
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	$58.4M-10.0%	$64.9M+12.6%	$57.6M+0.8%	$57.2M+20.0%	$47.7M+24.6%	$38.3M-1.9%	$39.0M+11.2%	$35.1M
Current Liabilities	$51.8M-10.7%	$58.0M+17.2%	$49.5M+0.1%	$49.4M+22.4%	$40.4M+29.7%	$31.1M+0.7%	$30.9M+12.9%	$27.4M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$207.9M+23.2%	$168.8M+219.4%	$52.9M-38.7%	$86.2M+2873.2%	$2.9M-89.4%	$27.4M-49.3%	$54.0M-31.7%	$79.1M
Retained Earnings	-$440.7M-12.1%	-$393.1M-12.9%	-$348.3M-10.5%	-$315.1M-0.5%	-$313.5M-9.5%	-$286.4M-8.8%	-$263.3M-13.1%	-$232.9M

DBVT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$121.2M-16.0%	-$104.5M-31.2%	-$79.7M-43.1%	-$55.7M+48.6%	-$108.2M+34.6%	-$165.6M
Capital Expenditures	$532K-77.2%	$2.3M+245.3%	$677K-10.2%	$754K-17.1%	$910K-67.4%	$2.8M
Free Cash Flow	-$121.7M-14.0%	-$106.8M-33.0%	-$80.3M-42.4%	-$56.4M+48.3%	-$109.2M+35.2%	-$168.4M
Investing Cash Flow	-$1.4M-80.8%	-$757K+6.3%	-$808K-708.0%	-$100K+76.9%	-$433K+84.9%	-$2.9M
Financing Cash Flow	$276.2M+46949.7%	$587K-91.3%	$6.8M-96.5%	$194.1M+70746.7%	$274K-99.8%	$149.5M
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	-$49.1M-39.6%	-$35.2M-8.4%	-$32.4M+4.2%	-$33.9M-71.9%	-$19.7M-60.8%	-$12.3M+45.4%	-$22.5M+36.0%	-$35.1M
Capital Expenditures	$400K+7.2%	$373K+218.8%	$117K+178.6%	$42K	$0+100.0%	-$125K-131.6%	$396K-45.9%	$732K
Free Cash Flow	-$49.5M-39.3%	-$35.5M-9.2%	-$32.6M+4.0%	-$33.9M-72.2%	-$19.7M-59.2%	-$12.4M+45.8%	-$22.9M+36.2%	-$35.8M
Investing Cash Flow	-$300K+58.0%	-$715K-196.7%	-$241K-1753.8%	-$13K+96.8%	-$400K-150.4%	$793K+827.5%	-$109K-115.8%	$691K
Financing Cash Flow	$88.9M-44.1%	$159.1M+122253.8%	$130K-99.9%	$117.0M	$0-100.0%	$675K+9542.9%	$7K+121.2%	-$33K
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

DBVT 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	-2609.2%+199.5pp	-2808.7%-2322.7pp	-486.0%+1508.9pp	-1994.9%-267.2pp	-1727.6%-319.0pp	-1408.7%
Net Margin	-2607.3%+137.1pp	-2744.3%-2282.0pp	-462.3%-2449.8pp	1987.5%+3701.0pp	-1713.5%-298.5pp	-1415.0%
Return on Equity	-87.1%+328.7pp	-415.8%-363.9pp	-51.9%-101.4pp	49.5%+148.0pp	-98.5%-20.9pp	-77.6%
Return on Assets	-62.9%+110.6pp	-173.5%-133.8pp	-39.7%-78.8pp	39.1%+105.7pp	-66.7%-8.1pp	-58.6%
Current Ratio	3.67+2.2	1.43-2.8	4.26-3.3	7.56+3.9	3.64-0.3	3.93
Debt-to-Equity	0.38-1.0	1.40+1.1	0.31+0.0	0.27+0.3	0.010.0	0.01
FCF Margin	-2159.6%+413.6pp	-2573.2%-2062.4pp	-510.8%+654.0pp	-1164.7%+747.5pp	-1912.3%-418.9pp	-1493.4%

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	-5322.2%+2226.9pp	-7549.1%-6313.4pp	-1235.7%+1570.6pp	-2806.2%+518.8pp	-3325.0%+1344.5pp	-4669.5%-1840.4pp	-2829.1%+85.8pp	-2914.9%
Net Margin	-5288.9%+2216.6pp	-7505.5%-6310.0pp	-1195.5%+1662.8pp	-2858.4%+529.1pp	-3387.5%+1116.4pp	-4503.9%-1664.2pp	-2839.7%+12.6pp	-2852.4%
Return on Equity	-22.9%+3.6pp	-26.5%+36.2pp	-62.7%-14.2pp	-48.6%+885.9pp	-934.5%-850.5pp	-84.0%-27.7pp	-56.3%-14.5pp	-41.9%
Return on Assets	-17.9%+1.3pp	-19.2%+10.8pp	-30.0%-0.8pp	-29.2%+24.4pp	-53.6%-18.6pp	-35.0%-2.3pp	-32.7%-3.7pp	-29.0%
Current Ratio	4.76+1.1	3.67+1.9	1.80-0.7	2.45+1.7	0.72-0.7	1.43-0.8	2.22-1.1	3.29
Debt-to-Equity	0.28-0.1	0.38-0.7	1.09+0.4	0.66-15.8	16.44+15.0	1.40+0.7	0.72+0.3	0.44
FCF Margin	-5500.0%+454.1pp	-5954.1%-4780.6pp	-1173.5%+1141.6pp	-2315.0%+147.5pp	-2462.5%-40.4pp	-2422.1%-290.3pp	-2131.8%+952.2pp	-3084.0%

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Frequently Asked Questions

What is Dbv Technologies S A's annual revenue?

Dbv Technologies S A (DBVT) reported $5.6M in total revenue for fiscal year 2025. This represents a 35.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Dbv Technologies S A's revenue growing?

Dbv Technologies S A (DBVT) revenue grew by 35.8% year-over-year, from $4.2M to $5.6M in fiscal year 2025.

Is Dbv Technologies S A profitable?

No, Dbv Technologies S A (DBVT) reported a net income of -$146.9M in fiscal year 2025, with a net profit margin of -2607.3%.

What is Dbv Technologies S A's EBITDA?

Dbv Technologies S A (DBVT) had EBITDA of -$144.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Dbv Technologies S A's operating margin?

Dbv Technologies S A (DBVT) had an operating margin of -2609.2% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Dbv Technologies S A's net profit margin?

Dbv Technologies S A (DBVT) had a net profit margin of -2607.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Dbv Technologies S A's return on equity (ROE)?

Dbv Technologies S A (DBVT) has a return on equity of -87.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Dbv Technologies S A's free cash flow?

Dbv Technologies S A (DBVT) generated -$121.7M in free cash flow during fiscal year 2025. This represents a -14.0% 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 Dbv Technologies S A's operating cash flow?

Dbv Technologies S A (DBVT) generated -$121.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Dbv Technologies S A's total assets?

Dbv Technologies S A (DBVT) had $233.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Dbv Technologies S A's capital expenditures?

Dbv Technologies S A (DBVT) invested $532K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Dbv Technologies S A spend on research and development?

Dbv Technologies S A (DBVT) invested $116.7M in research and development during fiscal year 2025.

What is Dbv Technologies S A's current ratio?

Dbv Technologies S A (DBVT) had a current ratio of 3.67 as of fiscal year 2025, which is generally considered healthy.

What is Dbv Technologies S A's debt-to-equity ratio?

Dbv Technologies S A (DBVT) had a debt-to-equity ratio of 0.38 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Dbv Technologies S A's return on assets (ROA)?

Dbv Technologies S A (DBVT) had a return on assets of -62.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Dbv Technologies S A's cash runway?

Based on fiscal year 2025 data, Dbv Technologies S A (DBVT) had $194.2M in cash against an annual operating cash burn of $121.2M. This gives an estimated cash runway of approximately 19 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 Dbv Technologies S A's Altman Z-Score?

Dbv Technologies S A (DBVT) has an Altman Z-Score of 5.19, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

What is Dbv Technologies S A's Piotroski F-Score?

Dbv Technologies S A (DBVT) has a Piotroski F-Score of 3 out of 6 computable signals; 3 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 Dbv Technologies S A's earnings high quality?

Dbv Technologies S A (DBVT) has an earnings quality ratio of 0.82x, 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 Dbv Technologies S A?

Dbv Technologies S A (DBVT) scores 46 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.