Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) Financials

FBIOP

Trailing 12 months to June 30, 2026

Revenue $68.5M +15.5% YoY

Net Income $142.0M +171.7% YoY

EPS (Diluted) $2.64 +351.4% YoY

Operating Cash Flow $125.9M +257.2% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 13, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 13, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FBIOP SEC filings page.

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) reported $68.5M in revenue over the twelve months to Jun 30, 2026, up 15.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 FBIOP FY2025 2026-10-03

The business still spends more on operations than gross profit supports, while reported net income is being generated outside core operations.

In FY2025, reported net income of $37M sat beside an operating loss of $70.2M, so earnings were not coming from the core business. Operating cash flow remained negative, and FY2024 showed the same mismatch between positive net income and cash generation, pointing to non-operating or non-cash items rather than cash conversion.

Gross margin improved to 66.9% in FY2025 from 63.8% in FY2024, but the operating margin stayed deeply negative at -111.0%. The narrower operating loss therefore reflects a changed expense mix—especially much lower R&D—rather than a business model that has reached operating profitability.

Current ratio rose to 2.5x as debt-to-equity fell to 1.1x, indicating less near-term and leverage pressure than FY2024. Yet financing supplied $77.4M while operating cash flow remained negative, so the balance-sheet improvement was funded externally rather than by operations.

Financial Health Signals

Financial Health Score 28/100

Scored against operating 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 Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock'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.

Profitability

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's reported operating margin for fiscal year 2025 is below the lowest share of revenue this page publishes, so the figure is not shown here. This dimension scores 22/100.

Growth

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's revenue grew 9.7% year-over-year to $63.3M, a solid pace of expansion. This earns a growth score of 7/100.

Leverage

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock has a moderate D/E ratio of 1.09. This balance of debt and equity financing earns a leverage score of 45/100.

Liquidity

With a current ratio of 2.49, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock holds $2.49 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 70/100.

Cash Flow

Returns

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock generates a 74.2% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 20/100. This is down from 92.4% the prior year.

Piotroski F-Score Neutral

5/9

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality No Cash Backing

$1.78used

For every $1 of reported earnings, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock used $1.78 of operating cash (-$65.8M OCF vs $37.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely.

Interest Coverage At Risk

N/A

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock reported an operating loss of $70.2M against $10.1M 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

Revenue

$18.7M

YoY+14.0%

QoQ+16.7%

5Y CAGR+1.0%

10Y CAGR+23.7%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock generated $18.7M in revenue in Q2 2026. This represents an increase of 14.0% from the same quarter a year earlier. Against the prior quarter it is up 16.7%.

EBITDA

-$8.9M

YoY+74.7%

QoQ-37.1%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's EBITDA was -$8.9M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 74.7% from the same quarter a year earlier. Against the prior quarter it is down 37.1%.

Net Income

-$468K

YoY-103.0%

QoQ-100.4%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock reported -$468K in net income in Q2 2026. This represents a decrease of 103.0% from the same quarter a year earlier. Against the prior quarter it is down 100.4%.

EPS (Diluted)

-$0.08

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock earned -$0.08 per diluted share (EPS) in Q2 2026.

Cash & Balance Sheet

Cash & Debt

$196.6M

YoY+164.3%

QoQ-23.2%

5Y CAGR-6.5%

10Y CAGR+10.7%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock held $196.6M in cash against $35.0M in long-term debt as of Q2 2026.

Shares Outstanding

33M

5Y CAGR-19.3%

10Y CAGR-3.7%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock had 33M shares outstanding in Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Gross Margin

67.2%

YoY-2.7pp

QoQ+5.9pp

5Y change+9.1pp

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's gross margin was 67.2% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is down 2.7 percentage points from the same quarter a year earlier. Against the prior quarter it is up 5.9 percentage points.

Operating Margin

-53.5%

QoQ-5.2pp

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's operating margin was -53.5% in Q2 2026, reflecting core business profitability. Against the prior quarter it is down 5.2 percentage points. No change is given against Q2 2025: its reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.

Net Margin

-2.5%

YoY-96.9pp

5Y change+17.3pp

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's net profit margin was -2.5% in Q2 2026, showing the share of revenue converted to profit. This is down 96.9 percentage points from the same quarter a year earlier.

Return on Equity

-0.3%

YoY-35.6pp

QoQ-68.3pp

5Y change+3.0pp

10Y change+35.0pp

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's ROE was -0.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 35.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 68.3 percentage points.

Capital Allocation

R&D Spending

$805K

YoY-90.1%

QoQ+49.1%

5Y CAGR-52.7%

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock invested $805K in research and development in Q2 2026. This represents a decrease of 90.1% from the same quarter a year earlier. Against the prior quarter it is up 49.1%.

Share Buybacks

Not reported for Q2 2026.

Capital Expenditures

Not reported for Q2 2026.

FBIOP 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.

FBIOP quarterly income statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Revenue	$68.5M	$63.3M+9.7%	$57.7M-31.8%	$84.5M+11.6%	$75.7M+10.1%	$68.8M+50.9%	$45.6M+24.5%	$36.6M+36.3%	$26.9M+55.9%	$17.2M+4.6%	$16.5M+1809.6%	$863K	$0	$0	N/A	N/A
Cost of Revenue	$23.6M	$20.9M+0.2%	$20.9M-8.8%	$22.9M-25.6%	$30.8M-4.1%	$32.1M+119.8%	$14.6M+38.6%	$10.5M+72.0%	$6.1M+67.4%	$3.7M+363.0%	$790K	$0	N/A	N/A	N/A	N/A
Gross Profit	$44.9M	$42.3M+15.1%	$36.8M-40.3%	$61.6M+37.0%	$45.0M+22.5%	$36.7M+18.4%	$31.0M+18.8%	$26.1M+25.7%	$20.8M+52.8%	$13.6M-13.4%	$15.7M+1718.1%	$863K	N/A	N/A	N/A	N/A
R&D Expenses	$1.2M	$11.9M-79.0%	$56.6M-46.6%	$106.1M-21.4%	$134.9M+4.7%	$128.9M+101.0%	$64.1M-21.2%	$81.3M-6.9%	$87.4M+80.8%	$48.3M+37.5%	$35.1M+17.9%	$29.8M+191.1%	$10.2M-60.1%	$25.7M+47.0%	$17.5M+103.5%	$8.6M
SG&A Expenses	$68.7M	$96.4M+9.9%	$87.7M-3.6%	$91.0M-20.0%	$113.7M+30.9%	$86.8M+42.0%	$61.2M+10.0%	$55.6M+4.2%	$53.4M+4.9%	$50.9M+80.3%	$28.2M+50.7%	$18.7M+79.9%	$10.4M+3.1%	$10.1M+16.5%	$8.7M+50.6%	$5.8M
Operating Income	-$29.2M	-$70.2M+36.4%	-$110.4M+22.5%	-$142.3M+30.1%	-$203.6M-8.0%	-$188.5M-100.0%	-$94.3M+14.9%	-$110.8M+7.6%	-$120.0M-33.6%	-$89.8M-36.7%	-$65.7M-30.0%	-$50.5M-144.7%	-$20.7M+42.3%	-$35.8M-31.7%	-$27.2M+22.5%	-$35.0M
EBITDA	N/A	-$65.6M+38.1%	-$105.9M+22.3%	-$136.3M+30.5%	-$196.2M-5.5%	-$185.9M-105.3%	-$90.6M+15.9%	-$107.7M+9.2%	-$118.6M-33.8%	-$88.6M-36.8%	-$64.8M-28.2%	-$50.5M-144.8%	-$20.6M+42.3%	-$35.8M-31.6%	-$27.2M+22.4%	-$35.0M
Interest Expense	$9.6M	$10.1M-25.3%	$13.5M-11.7%	$15.3M+22.7%	$12.5M-18.5%	$15.3M-0.1%	$15.3M+29.3%	$11.8M+114493.8%	$10K-99.8%	$5.9M+58.8%	$3.7M+148.7%	$1.5M+10.9%	$1.3M-30.4%	$1.9M+187.0%	$670K+805.4%	$74K
Income Tax	$4.8M	-$620K-298.7%	$312K-40.1%	$521K+16.0%	$449K-5.1%	$473K-5.4%	$500K	$0	$0-100.0%	$1.5M	$0	$0	N/A	N/A	N/A	N/A
Net Income	$142.0M	$37.0M+76.2%	$21.0M-32.3%	$31.0M+135.8%	-$86.6M-33.8%	-$64.7M-39.1%	-$46.5M-16.4%	-$40.0M+52.5%	-$84.1M-25.8%	-$66.9M-21.4%	-$55.1M-13.8%	-$48.4M-137.6%	-$20.4M+45.1%	-$37.2M-34.6%	-$27.6M+24.1%	-$36.4M
EPS (Basic)	N/A	-$0.07+97.4%	-$2.69+68.2%	-$8.47+47.0%	-$15.97-1921.5%	-$0.79	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	$2.64	-$0.07+97.4%	-$2.69	-$8.47	-$15.97	-$0.79	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	28M+34.2%	21M	8M	6M	82M	N/A	N/A	N/A	N/A	N/A	N/A	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
Revenue	$18.7M+14.0%	$16.0M+22.1%	$16.1M+6.3%	$17.6M+20.5%	$16.4M+10.2%	$13.1M+0.8%	$15.1M-24.2%	$14.6M-57.9%
Cost of Revenue	$6.1M+24.4%	$6.2M+29.8%	$5.4M+16.3%	$5.8M+28.7%	$4.9M-13.8%	$4.8M-20.2%	$4.7M+108.1%	$4.5M-30.5%
Gross Profit	$12.6M+9.6%	$9.8M+17.6%	$10.6M+1.9%	$11.9M+16.9%	$11.5M+25.1%	$8.3M+18.8%	$10.4M-41.0%	$10.2M-64.1%
R&D Expenses	$805K-90.1%	$540K-86.3%	-$371K-96.2%	$208K-97.8%	$8.1M-35.9%	$3.9M-84.1%	$9.7M-31.3%	$9.4M-53.6%
SG&A Expenses	$20.8M-46.3%	$15.9M-38.1%	$14.6M-46.0%	$17.4M-20.8%	$38.8M+86.1%	$25.7M+43.0%	$27.0M+38.6%	$22.0M+1.2%
Operating Income	-$10.0M+72.6%	-$7.7M+65.3%	-$4.6M+80.7%	-$6.8M+69.2%	-$36.5M-31.3%	-$22.3M+39.0%	-$23.9M-22.0%	-$22.1M-60.6%
EBITDA	-$8.9M+74.7%	-$6.5M+69.1%	-$3.5M+84.7%	-$5.6M+73.3%	-$35.3M-32.9%	-$21.1M+40.3%	-$22.8M-22.4%	-$21.2M-68.9%
Interest Expense	$1.5M-41.4%	$3.4M+20.1%	$2.0M-21.3%	$2.7M-55.8%	$2.5M+18.7%	$2.8M+7.8%	$2.6M+25.9%	$6.2M+145.0%
Income Tax	$320K	$5.1M	-$646K-365.8%	$26K-62.3%	$0	$0	$243K-36.1%	$69K-51.1%
Net Income	-$468K-103.0%	$110.4M+1142.8%	$26.2M-56.4%	$5.8M+145.5%	$15.5M+241.5%	-$10.6M+31.3%	$60.2M-26.9%	-$12.9M-155.0%
EPS (Basic)	-$0.08-116.0%	$3.44+816.7%	-$0.23+11.5%	$0.13+117.1%	$0.50+168.5%	-$0.48+53.8%	-$0.26+50.9%	-$0.76+19.1%
EPS (Diluted)	-$0.08	$2.82	-$0.21+19.2%	$0.11	$0.45	-$0.48+53.8%	-$0.26	-$0.76
Diluted Shares (Avg)	32M	38M	N/A	33M	30M	26M+54.2%	N/A	20M

FBIOP Balance Sheet

FBIOP quarterly balance sheet

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Total Assets	$185.5M+28.7%	$144.2M-13.9%	$167.5M-43.1%	$294.3M-25.8%	$396.5M+18.9%	$333.4M+47.3%	$226.4M+60.6%	$141.0M-42.7%	$245.9M+44.1%	$170.7M+43.9%	$118.6M+32.8%	$89.3M-11.2%	$100.6M+145.4%	$41.0M+75.4%	$23.4M
Current Assets	$123.8M+37.0%	$90.4M-22.8%	$117.0M-49.2%	$230.4M-33.5%	$346.5M+30.2%	$266.1M+70.3%	$156.3M+40.5%	$111.2M-39.3%	$183.2M+67.1%	$109.6M+9.7%	$99.9M+41.8%	$70.5M-29.6%	$100.0M+146.4%	$40.6M+73.7%	$23.4M
Cash & Equivalents	$79.4M+38.6%	$57.3M-29.2%	$80.9M-54.6%	$178.3M-41.7%	$305.7M+31.0%	$233.4M+70.5%	$136.9M+108.9%	$65.5M-31.0%	$95.0M-9.7%	$105.2M+7.1%	$98.2M+97.3%	$49.8M-50.0%	$99.5M+147.6%	$40.2M+73.6%	$23.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0-100.0%	$17.6M-51.1%	$36.0M	$0	$0-100.0%	$20.0M	$0	$0	$0
Inventory	$9.6M-33.3%	$14.4M+41.4%	$10.2M-27.9%	$14.2M+43.6%	$9.9M+602.4%	$1.4M+63.8%	$857K+26.4%	$678K+296.5%	$171K-15.8%	$203K	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$29.8M+191.1%	$10.2M-32.8%	$15.2M-46.0%	$28.2M+22.0%	$23.1M-3.4%	$23.9M+76.7%	$13.5M+146.3%	$5.5M-29.1%	$7.8M+323.9%	$1.8M	$0	N/A	N/A	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0-100.0%	$17.6M+57.6%	$11.1M	$0-100.0%	$1.4M-1.7%	$1.4M-43.1%	$2.5M-40.3%	$4.2M	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$18.6M0.0%	$18.6M	$0	N/A	N/A	N/A	N/A
Total Liabilities	$123.4M-15.4%	$145.9M-12.1%	$165.9M-32.1%	$244.3M-15.1%	$287.8M+23.5%	$233.1M+16.4%	$200.2M+65.1%	$121.3M-37.3%	$193.4M+46.2%	$132.2M+114.1%	$61.8M+228.5%	$18.8M-2.6%	$19.3M+1.8%	$19.0M+346.8%	$4.2M
Current Liabilities	$49.7M-30.3%	$71.4M-15.9%	$84.9M-33.5%	$127.7M+26.4%	$101.0M+95.2%	$51.8M+13.5%	$45.6M-18.0%	$55.6M-22.2%	$71.4M+26.3%	$56.6M+434.7%	$10.6M+159.5%	$4.1M-63.6%	$11.2M+118.4%	$5.1M+46.9%	$3.5M
Non-Current Liabilities	$73.6M-1.1%	$74.5M-8.1%	$81.0M-30.5%	$116.6M-37.6%	$186.8M+3.0%	$181.3M+17.3%	$154.6M+135.5%	$65.6M-46.2%	$121.9M+61.1%	$75.7M+47.8%	$51.2M+247.6%	$14.7M+1267.2%	$1.1M-92.2%	$13.8M+1743.6%	$750K
Long-Term Debt	$54.5M-6.0%	$58.0M-4.8%	$60.9M-33.7%	$91.7M+113.6%	$42.9M-16.9%	$51.7M-39.0%	$84.7M+0.3%	$84.4M+25.0%	$67.5M+123.5%	$30.2M+25.9%	$24.0M+71.4%	$14.0M	N/A	N/A	N/A
Total Equity	$49.9M+119.3%	$22.7M+0.9%	$22.5M-46.0%	$41.7M-61.6%	$108.7M+8.3%	$100.3M+282.8%	$26.2M+1315.5%	$1.9M-96.5%	$52.6M+36.6%	$38.5M-32.3%	$56.8M-19.4%	$70.5M-13.2%	$81.3M+268.9%	$22.0M+15.2%	$19.1M
Retained Earnings	-$734.1M+0.9%	-$740.9M-6.6%	-$694.9M-9.6%	-$634.2M-15.8%	-$547.5M-13.4%	-$482.8M-10.7%	-$436.2M-10.1%	-$396.3M-27.0%	-$312.1M-27.3%	-$245.3M-29.0%	-$190.2M-34.2%	-$141.7M-16.8%	-$121.3M-44.1%	-$84.2M-48.8%	-$56.6M

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	$316.7M+98.1%	$356.9M+100.4%	$185.5M+28.7%	$181.4M+42.7%	$159.9M+9.8%	$178.1M+8.2%	$144.2M-13.9%	$127.1M-15.6%
Current Assets	$245.5M+122.4%	$295.5M+132.8%	$123.8M+37.0%	$118.5M+37.4%	$110.4M+6.7%	$126.9M+8.9%	$90.4M-22.8%	$86.3M-11.8%
Cash & Equivalents	$196.6M+164.3%	$255.8M+180.1%	$79.4M+38.6%	$86.2M+46.5%	$74.4M-2.4%	$91.3M+9.0%	$57.3M-29.2%	$58.9M-18.6%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	$8.2M-36.5%	$9.3M-25.6%	$9.6M-33.3%	$11.8M+0.3%	$12.9M+32.7%	$12.5M+18.1%	$14.4M+41.4%	$11.8M+6.9%
Accounts Receivable	$36.2M+131.7%	$25.0M+38.7%	$29.8M+191.1%	$18.0M+68.5%	$15.6M+49.5%	$18.0M+83.9%	$10.2M-32.8%	$10.7M+33.6%
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$110.6M-9.7%	$154.5M+6.1%	$123.4M-15.4%	$116.2M+9.7%	$122.5M-23.6%	$145.6M-13.6%	$145.9M-12.1%	$105.9M-35.3%
Current Liabilities	$62.0M+7.8%	$103.4M+40.3%	$49.7M-30.3%	$54.1M-23.1%	$57.5M-23.9%	$73.7M-16.0%	$71.4M-15.9%	$70.3M-27.8%
Non-Current Liabilities	$48.6M-25.2%	$51.1M-28.9%	$73.6M-1.1%	$62.2M+74.5%	$65.0M-23.3%	$71.9M-11.1%	$74.5M-8.1%	$35.6M-46.4%
Long-Term Debt	$35.0M-30.0%	$37.5M-33.5%	$54.5M-6.0%	$47.8M-9.0%	$50.0M-25.3%	$56.4M-8.2%	$58.0M-4.8%	$52.5M+14.6%
Total Equity	$164.1M+273.7%	$162.2M+629.0%	$49.9M+119.3%	$55.9M+164.0%	$43.9M+145.7%	$22.3M-3.4%	$22.7M+0.9%	$21.2M+26.9%
Retained Earnings	-$624.1M+15.2%	-$623.7M+17.0%	-$734.1M+0.9%	-$730.1M+0.5%	-$736.0M-2.0%	-$751.5M-5.8%	-$740.9M-6.6%	-$734.1M-7.1%

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

FBIOP Cash Flow Statement

FBIOP quarterly cash flow statement

Metric	TTM	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Operating Cash Flow	$125.9M	-$65.8M+18.0%	-$80.2M+37.5%	-$128.2M+28.5%	-$179.4M-53.9%	-$116.5M-39.3%	-$83.7M+11.9%	-$95.0M+3.9%	-$98.8M-21.6%	-$81.3M-77.5%	-$45.8M-124.8%	-$20.4M-24.8%	-$16.3M+44.9%	-$29.6M-27.8%	-$23.2M-111.8%	-$11.0M
Depreciation & Amortization	N/A	$4.7M+4.4%	$4.5M-25.6%	$6.0M-18.8%	$7.4M+181.1%	$2.6M-29.0%	$3.7M+19.5%	$3.1M+122.3%	$1.4M+19.6%	$1.2M+23.4%	$944K+3530.8%	$26K+13.0%	$23K+35.3%	$17K+466.7%	$3K-86.4%	$22K
Stock-Based Compensation	N/A	$28.7M-11.9%	$32.6M+91.5%	$17.0M-25.9%	$23.0M+18.0%	$19.5M+44.9%	$13.5M+2.0%	$13.2M-12.2%	$15.0M+12.0%	$13.4M+10.5%	$12.1M-15.1%	$14.3M+157.7%	$5.5M-6.0%	$5.9M+62.2%	$3.6M	N/A
Capital Expenditures	N/A	N/A	$0-100.0%	$63K-97.7%	$2.7M-40.5%	$4.6M+137.1%	$1.9M-17.9%	$2.3M-66.9%	$7.1M+992.9%	$648K-89.8%	$6.4M+2150.9%	$283K	$0-100.0%	$40K-25.9%	$54K	$0
Free Cash Flow	N/A	N/A	-$80.2M+37.5%	-$128.3M+29.6%	-$182.1M-50.4%	-$121.1M-41.5%	-$85.6M+12.0%	-$97.3M+8.1%	-$105.9M-29.3%	-$82.0M-57.1%	-$52.2M-152.6%	-$20.7M-26.5%	-$16.3M+45.0%	-$29.7M-27.7%	-$23.2M-112.3%	-$11.0M
Investing Cash Flow	$2.8M	$10.1M+167.5%	-$15.0M-613.3%	-$2.1M+90.8%	-$22.9M-156.6%	$40.5M+665.5%	-$7.2M-135.6%	$20.1M+6.8%	$18.8M+146.8%	-$40.2M-563.8%	-$6.1M-176.9%	$7.9M	N/A	-$188K+32.6%	-$279K+92.7%	-$3.8M
Financing Cash Flow	-$6.5M	$77.4M+9.6%	$70.6M+115.8%	$32.7M-56.5%	$75.3M-49.4%	$149.0M-13.6%	$172.4M+17.5%	$146.7M+189.7%	$50.6M-66.3%	$150.4M+250.5%	$42.9M-29.6%	$60.9M	N/A	$89.2M+120.1%	$40.5M+75.4%	$23.1M
Dividends Paid	N/A	$664K-4.3%	$694K-5.7%	$736K-1.7%	$749K0.0%	$749K+216.0%	$237K	$0	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	$70K	$0	N/A	N/A	N/A	N/A	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
Operating Cash Flow	-$59.3M-115.1%	$203.9M+1142.0%	-$12.5M+2.8%	-$6.1M+69.5%	-$27.6M-26.2%	-$19.6M+22.9%	-$12.9M+63.1%	-$20.1M-19.5%
Depreciation & Amortization	$1.1M-8.2%	$1.2M+2.4%	$1.2M+2.8%	$1.2M+27.4%	$1.2M-4.1%	$1.2M0.0%	$1.1M-5.6%	$914K-24.7%
Stock-Based Compensation	$2.9M-82.9%	$1.8M-72.1%	N/A	$3.2M-51.4%	$16.8M+236.0%	$6.3M+29.5%	N/A	$6.6M+50.2%
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	-$1.4M+139400.0%
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	-$12.9M+63.1%	-$21.5M-27.9%
Investing Cash Flow	-$79K-101.3%	$0-100.0%	$0+100.0%	$2.9M	$6.1M	$1.2M	-$15.0M-23709.5%	$0-100.0%
Financing Cash Flow	$91K-98.0%	-$27.4M-152.5%	$5.7M-77.9%	$15.1M+456.0%	$4.5M-68.3%	$52.1M+87.2%	$25.8M-40.8%	$2.7M+201.0%
Dividends Paid	N/A	$0-100.0%	$166K0.0%	$166K-5.7%	$166K-5.7%	$166K-5.7%	$166K-7.8%	$176K-4.9%

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

FBIOP 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.

FBIOP quarterly financial ratios

Metric	FY2510-K	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K
Gross Margin	66.9%+3.1pp	63.8%-9.1pp	72.9%+13.5pp	59.4%+6.0pp	53.4%-14.6pp	68.0%-3.3pp	71.3%-6.0pp	77.2%-1.6pp	78.8%-16.4pp	95.2%-4.8pp	100.0%	N/A	N/A	N/A	N/A
Operating Margin	-111.0%	-191.4%	-168.4%	-268.8%	-274.1%	-206.7%	-302.5%	-446.4%	-520.7%	-398.7%	-5855.3%	N/A	N/A	N/A	N/A
Net Margin	58.5%+22.1pp	36.4%-0.3pp	36.7%	-114.3%	-94.1%	-102.0%	-109.1%	-313.0%	-387.8%	-334.3%	-5611.6%	N/A	N/A	N/A	N/A
Return on Equity	74.2%-18.2pp	92.4%-45.1pp	137.5%+345.0pp	-207.5%-148.0pp	-59.5%-13.2pp	-46.4%+106.1pp	-152.4%+4391.1pp	-4543.6%-4416.4pp	-127.2%+15.9pp	-143.1%-57.9pp	-85.2%-56.3pp	-28.9%+16.8pp	-45.7%+79.6pp	-125.3%+64.7pp	-190.1%
Return on Assets	19.9%+5.4pp	14.6%-3.9pp	18.5%+47.9pp	-29.4%-13.1pp	-16.3%-2.4pp	-14.0%+3.7pp	-17.6%+42.0pp	-59.7%-32.5pp	-27.2%+5.1pp	-32.3%+8.6pp	-40.8%-18.0pp	-22.8%+14.1pp	-36.9%+30.4pp	-67.3%+88.2pp	-155.6%
Current Ratio	2.49+1.2x	1.27-0.1x	1.38-0.4x	1.80-1.6x	3.43-1.7x	5.14+1.7x	3.43+1.4x	2.00-0.6x	2.56+0.6x	1.94-7.5x	9.45-7.8x	17.28+8.4x	8.92+1.0x	7.91+1.2x	6.69
Debt-to-Equity	1.09-1.5x	2.55-0.2x	2.70+0.5x	2.20+1.8x	0.40-0.1x	0.52-2.7x	3.23-42.3x	45.58+44.3x	1.28+0.5x	0.79+0.4x	0.42+0.2x	0.200.0x	0.24-0.6x	0.86+0.6x	0.22
Asset Turnover	0.34-0.1x	0.40-0.1x	0.50+0.2x	0.26+0.1x	0.170.0x	0.140.0x	0.160.0x	0.19+0.1x	0.070.0x	0.10+0.1x	0.010.0x	0.000.0x	0.00	N/A	N/A
FCF Margin	N/A	-139.0%	-151.8%	-240.4%	-176.0%	-187.7%	-265.6%	-394.1%	-475.2%	-316.6%	-2394.1%	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
Gross Margin	67.2%-2.7pp	61.2%-2.3pp	66.2%-2.9pp	67.4%-2.1pp	69.9%+8.4pp	63.5%+9.6pp	69.0%-19.7pp	69.4%-12.1pp
Operating Margin	-53.5%	-48.3%	-28.7%	-38.6%	-222.2%	-169.8%	-158.3%	-151.0%
Net Margin	-2.5%-96.9pp	688.2%	163.2%	33.2%+121.1pp	94.3%+167.9pp	-80.5%	398.4%	-88.0%-73.4pp
Return on Equity	-0.3%-35.6pp	68.0%+115.6pp	52.6%-212.3pp	10.5%+71.3pp	35.3%+96.5pp	-47.6%+19.4pp	264.9%-100.4pp	-60.8%-30.6pp
Return on Assets	-0.1%-9.8pp	30.9%+36.9pp	14.1%-27.6pp	3.2%+13.3pp	9.7%+17.2pp	-5.9%+3.4pp	41.8%-7.4pp	-10.1%-6.8pp
Current Ratio	3.96+2.0x	2.86+1.1x	2.49+1.2x	2.19+1.0x	1.92+0.6x	1.72+0.4x	1.27-0.1x	1.23+0.2x
Debt-to-Equity	0.21-0.9x	0.23-2.3x	1.09-1.5x	0.86-1.6x	1.14-2.6x	2.53-0.1x	2.55-0.2x	2.48-0.3x
Asset Turnover	0.060.0x	0.040.0x	0.090.0x	0.100.0x	0.100.0x	0.070.0x	0.100.0x	0.12-0.1x
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-85.4%	-146.6%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, 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
Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock FBIOP	FY2025	$63.3M	$37.0M	58.5%	N/A	28/100
Tempest Therapeutics, Inc. TPST	FY2025	N/A	-$26.3M	N/A	$8.9M	—
Acrivon Therapeutics, Inc. ACRV	FY2025	N/A	-$77.9M	N/A	$78.2M	—
Radiopharm Theranostics Limited RADX	FY2025	$3.6M	-$38.3M	N/A	$14.3M	20/100
Outlook Therapeutics, Inc. OTLK	FY2025	$1.4M	-$62.4M	N/A	$136.6M	37/100
Verrica Pharmaceuticals Inc. VRCA	FY2025	$35.6M	-$17.9M	-50.3%	$62.4M	68/100

Where Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock Ranks

Frequently Asked Questions

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's annual revenue?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) reported $63.3M in total revenue for fiscal year 2025. This represents a 9.7% 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 Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's revenue growing?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) revenue grew by 9.7% year-over-year, from $57.7M to $63.3M in fiscal year 2025.

Is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock profitable?

Yes, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) reported a net income of $37.0M in fiscal year 2025, with a net profit margin of 58.5%.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's earnings per share (EPS)?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) reported diluted earnings per share of -$0.07 for fiscal year 2025. This represents a 97.4% 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.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's EBITDA?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had EBITDA of -$65.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock have?

As of fiscal year 2025, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had $79.4M in cash and equivalents against $54.5M in long-term debt.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's gross margin?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had a gross margin of 66.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's net profit margin?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had a net profit margin of 58.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's return on equity (ROE)?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) has a return on equity of 74.2% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's operating cash flow?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) recorded an outflow of $65.8M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's total assets?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had $185.5M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock spend on research and development?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) invested $11.9M in research and development during fiscal year 2025.

How many shares does Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock have outstanding?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had 31M shares outstanding as of fiscal year 2025.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's current ratio?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had a current ratio of 2.49 as of fiscal year 2025, which is generally considered healthy.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's debt-to-equity ratio?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had a debt-to-equity ratio of 1.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's return on assets (ROA)?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) had a return on assets of 19.9% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

How does Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's liquidity compare with its operating cash outflow?

At the end of fiscal year 2025, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) held $79.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $65.8M over that year. Dividing the one by the other, the reported balance equals about 14 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 Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's Piotroski F-Score?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) has a Piotroski F-Score of 5 out of 9, indicating neutral 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 Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock's earnings high quality?

For every $1 of reported earnings, Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) used $1.78 of operating cash (-$65.8M OCF vs $37.0M net income). Earnings that no cash stands behind rest on accounting accruals, which cannot be repeated indefinitely. 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 Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock cover its interest payments?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) reported an operating loss of $70.2M against $10.1M 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.

How financially healthy is Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock?

Fortress Biotech, Inc. 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock (FBIOP) scores 28 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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.