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

Forte Biosciences, Inc. (FBRX) reported diluted earnings per share of -$4.71 for fiscal year 2025. 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.

Forte Biosciences, Inc. (FBRX) Financials

FBRX

FY2025 annual

Net Income -$69.4M -95.5% YoY

EPS (Diluted) -$4.71 YoY not available

Free Cash Flow -$51.0M -65.7% YoY

Operating Cash Flow -$50.9M -65.5% YoY

Source SEC Filings (10-K/10-Q) Latest period Q2 FY2026, ended Jun 30, 2026 Reported Aug 12, 2026 Currency USD FYE December

Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the FBRX SEC filings page.

This page shows Forte Biosciences, Inc. (FBRX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 11 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 FBRX FY2025 2026-10-03

Forte remains a development-stage business: escalating research spending drives larger losses and cash needs, funded mainly through new capital.

Operating cash outflow of $50.9M nearly matched free cash flow of -$51.0M, showing little cash was absorbed by reported capital spending rather than non-cash adjustments. That cash use accompanied a net loss of $69.4M as R&D reached $57.6M, linking the deterioration to heavier development investment rather than capital-intensive facilities.

R&D spending was $57.6M in FY2025 versus $20.7M in FY2024, making research the central cost driver. SG&A fell from $15.4M to $12.4M, so the latest expense surge was concentrated in development rather than broad administrative expansion.

Liabilities were $21.8M against $61.0M of equity, indicating equity remains the primary funding base. The reported liquidity comparison was 18.1 months of annual outflow, while the current ratio stood at 3.9x, showing substantial short-term assets relative to near-term liabilities but a thinner cushion than FY2024.

Financial Health Signals

Financial health score not available

Forte 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

1/6

Forte Biosciences, Inc. passes 1 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality No Cash Backing

N/A

Forte Biosciences, Inc. reported a net loss of $69.4M while operations used $50.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

Forte Biosciences, Inc. reported an operating loss of $70.7M against $2.7M 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

Export CSV

Earnings & Revenue

EBITDA

-$24.6M

YoY-112.6%

QoQ-9.6%

Forte Biosciences, Inc.'s EBITDA was -$24.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 112.6% from the same quarter a year earlier. Against the prior quarter it is down 9.6%.

Net Income

-$23.3M

YoY-107.4%

QoQ-5.4%

Forte Biosciences, Inc. reported -$23.3M in net income in Q2 2026. This represents a decrease of 107.4% from the same quarter a year earlier. Against the prior quarter it is down 5.4%.

EPS (Diluted)

-$0.97

QoQ+21.8%

Forte Biosciences, Inc. earned -$0.97 per diluted share (EPS) in Q2 2026. Against the prior quarter it is up 21.8%.

Revenue

Not reported for Q2 2026.

Cash & Balance Sheet

Free Cash Flow

-$22.7M

YoY-125.6%

QoQ-20.7%

Forte Biosciences, Inc. recorded an outflow of $22.7M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 125.6% from the same quarter a year earlier. Against the prior quarter it is down 20.7%.

Cash & Debt

$49.6M

YoY-53.2%

QoQ-14.8%

5Y CAGR-0.5%

10Y CAGR+25.1%

Forte Biosciences, Inc. held $49.6M in cash as of Q2 2026; long-term debt is not reported for that period.

Shares Outstanding

21M

Forte Biosciences, Inc. had 21M shares outstanding in Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Margins & Returns

Return on Equity

-12.7%

YoY-1.3pp

QoQ+39.9pp

Forte Biosciences, Inc.'s ROE was -12.7% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 1.3 percentage points from the same quarter a year earlier. Against the prior quarter it is up 39.9 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

$22.2M

YoY+162.0%

QoQ+9.2%

Forte Biosciences, Inc. invested $22.2M in research and development in Q2 2026. This represents an increase of 162.0% from the same quarter a year earlier. Against the prior quarter it is up 9.2%.

Capital Expenditures

Forte Biosciences, Inc. reported no capital expenditure in Q2 2026.

Share Buybacks

Not reported for Q2 2026.

FBRX 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.

FBRX quarterly income statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$36K-99.8%	$18.0M+43890.2%	$41K-16.3%	$49K	N/A
R&D Expenses	N/A	$57.6M+178.3%	$20.7M-5.3%	$21.9M+290.8%	$5.6M-59.6%	$13.9M+38.5%	$10.0M	N/A	$51.1M+75.5%	$29.1M+7.0%	$27.2M+42.0%	$19.2M
SG&A Expenses	N/A	$12.4M-19.5%	$15.4M+45.0%	$10.6M+28.0%	$8.3M+8.8%	$7.6M+80.8%	$4.2M+205.9%	$1.4M-89.2%	$12.8M+49.7%	$8.6M+89.3%	$4.5M+17.9%	$3.8M
Operating Income	N/A	-$70.7M-93.0%	-$36.6M-12.7%	-$32.5M-133.8%	-$13.9M+35.3%	-$21.5M+53.6%	-$46.3M-1038.8%	-$4.1M+91.1%	-$45.9M-21.9%	-$37.6M-18.7%	-$31.7M-38.1%	-$23.0M
EBITDA	N/A	-$70.6M-93.1%	-$36.6M-12.6%	-$32.5M	N/A	-$21.4M+53.6%	-$46.2M-1040.6%	-$4.1M+91.0%	-$45.2M-21.1%	-$37.3M-18.8%	-$31.4M-38.3%	-$22.7M
Interest Expense	N/A	$2.7M+106.6%	$1.3M+16.9%	$1.1M+593.8%	$162K	N/A	N/A	$3.8M+30.4%	$2.9M+51.7%	$1.9M-5.8%	$2.1M+505.3%	$339K
Income Tax	N/A	$1.0M	$0	N/A	N/A	N/A	N/A	$1K-99.9%	$1.7M+169800.0%	$1K0.0%	$1K	N/A
Net Income	N/A	-$69.4M-95.5%	-$35.5M-12.7%	-$31.5M-126.8%	-$13.9M+36.1%	-$21.7M+53.3%	-$46.5M-1042.5%	-$4.1M+91.7%	-$49.0M-25.8%	-$38.9M-16.3%	-$33.5M-45.2%	-$23.1M
EPS (Basic)	N/A	-$4.71+61.3%	-$12.17+51.2%	-$24.92-3015.0%	-$0.80+48.4%	-$1.55	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	—	-$4.71	-$12.17	-$24.92	-$0.80+48.4%	-$1.55	N/A	N/A	N/A	N/A	N/A	N/A
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	17M+24.5%	14M	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
R&D Expenses	$22.2M+162.0%	$20.3M+62.0%	N/A	$15.1M+163.1%	$8.5M+51.5%	$12.5M+190.1%	N/A	$5.7M-10.2%
SG&A Expenses	$2.3M-23.4%	$2.0M-42.6%	N/A	$3.2M+15.4%	$3.0M-58.2%	$3.4M-0.6%	N/A	$2.8M-28.3%
Operating Income	-$24.6M-112.5%	-$22.4M-39.2%	N/A	-$18.4M-113.0%	-$11.6M+9.7%	-$16.1M-106.6%	N/A	-$8.6M+15.5%
EBITDA	-$24.6M-112.6%	-$22.4M-39.2%	N/A	-$18.4M-113.1%	-$11.6M+9.7%	-$16.1M-106.7%	N/A	-$8.6M
Income Tax	$193K	$373K	N/A	N/A	$0	$0	N/A	N/A
Net Income	-$23.3M-107.4%	-$22.1M-41.4%	N/A	-$17.7M-110.7%	-$11.2M+10.1%	-$15.7M-111.0%	N/A	-$8.4M+15.7%
EPS (Basic)	-$0.97-1.0%	-$1.24+9.5%	-$1.45-145.6%	-$0.99+78.2%	-$0.96+85.8%	-$1.37+66.0%	$3.18+8050.0%	-$4.54+30.9%
EPS (Diluted)	-$0.97	-$1.24	-$1.45	-$0.99	-$0.96	-$1.37	$3.18	-$4.54

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, Interest Expense, Diluted Shares (Avg).

FBRX Balance Sheet

FBRX quarterly balance sheet

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Total Assets	$82.8M+34.5%	$61.6M+57.9%	$39.0M-7.2%	$42.0M-3.0%	$43.3M-29.3%	$61.2M+699.7%	$7.7M-92.6%	$103.1M+12.0%	$92.1M+160.5%	$35.4M	N/A
Current Assets	$80.6M+31.4%	$61.3M+60.1%	$38.3M-7.7%	$41.5M-2.4%	$42.5M-29.0%	$59.9M+698.0%	$7.5M-92.3%	$97.7M+7.9%	$90.6M+179.2%	$32.5M	N/A
Cash & Equivalents	$77.0M+246.0%	$22.2M-40.1%	$37.1M-9.7%	$41.1M-2.2%	$42.0M-28.5%	$58.8M+746.9%	$6.9M-83.0%	$40.8M+13.6%	$35.9M+552.1%	$5.5M-32.4%	$8.2M
Short-Term Investments	$0-100.0%	$36.1M	$0	$0	$0	$0	$0-100.0%	$55.3M+4.7%	$52.8M+105.1%	$25.7M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$21.8M+139.9%	$9.1M+147.7%	$3.7M+15.3%	$3.2M+80.8%	$1.8M-22.2%	$2.3M-81.8%	$12.4M-88.0%	$103.8M+394.6%	$21.0M-86.9%	$159.8M	N/A
Current Liabilities	$20.8M+128.5%	$9.1M+147.7%	$3.7M+15.3%	$3.2M+80.8%	$1.8M-22.2%	$2.3M+18.1%	$1.9M-88.4%	$16.5M-4.6%	$17.3M+20.5%	$14.4M	N/A
Non-Current Liabilities	$1.0M	$0	$0	$0	$0	$0-100.0%	$10.5M-88.0%	$87.3M+2284.1%	$3.7M-97.5%	$145.4M	N/A
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$26.2M+622.8%	$3.6M-64.6%	$10.2M	N/A
Total Equity	$61.0M+16.2%	$52.5M+48.6%	$35.3M-9.0%	$38.8M-6.6%	$41.5M-29.6%	$59.0M+1336.7%	-$4.8M-548.0%	-$736K-101.0%	$71.1M+157.1%	-$124.4M-34.8%	-$92.3M
Retained Earnings	-$223.4M-45.0%	-$154.0M-29.9%	-$118.5M-36.2%	-$87.0M-19.0%	-$73.2M-42.2%	-$51.5M-935.4%	-$5.0M+97.7%	-$215.9M-29.3%	-$166.9M-30.4%	-$128.0M	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
Total Assets	$205.7M+90.9%	$67.2M+41.6%	$82.8M+34.5%	$97.1M+441.0%	$107.8M+313.3%	$47.5M+48.2%	$61.6M+57.9%	$17.9M-62.5%
Current Assets	$203.1M+88.7%	$65.1M+38.1%	$80.6M+31.4%	$95.4M+440.0%	$107.6M+318.6%	$47.2M+49.7%	$61.3M+60.1%	$17.7M-62.5%
Cash & Equivalents	$49.6M-53.2%	$58.2M+27.0%	$77.0M+246.0%	$93.4M+470.9%	$106.1M+333.3%	$45.9M+50.6%	$22.2M-40.1%	$16.4M-64.6%
Short-Term Investments	$148.8M	$0	$0-100.0%	$0	$0	$0	$36.1M	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Total Liabilities	$21.9M+139.4%	$25.1M+178.2%	$21.8M+139.9%	$13.0M+51.4%	$9.2M+0.6%	$9.0M+171.1%	$9.1M+147.7%	$8.6M+14.8%
Current Liabilities	$20.3M+121.3%	$23.6M+161.8%	$20.8M+128.5%	$13.0M+51.4%	$9.2M+0.6%	$9.0M+171.1%	$9.1M+147.7%	$8.6M+14.8%
Non-Current Liabilities	$1.7M	$1.5M	$1.0M	$0	$0	$0	$0	$0
Total Equity	$183.8M+86.4%	$42.1M+9.6%	$61.0M+16.2%	$84.1M+797.9%	$98.6M+481.4%	$38.4M+34.0%	$52.5M+48.6%	$9.4M-76.8%
Retained Earnings	-$268.8M-48.6%	-$245.5M-44.7%	-$223.4M-45.0%	-$198.6M-35.2%	-$180.9M-30.7%	-$169.7M-34.7%	-$154.0M-29.9%	-$146.8M-30.4%

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

FBRX Cash Flow Statement

FBRX quarterly cash flow statement

Metric	TTM	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Cash Flow	-$72.0M	-$50.9M-65.5%	-$30.7M-7.1%	-$28.7M-250.7%	-$8.2M+50.9%	-$16.7M+9.5%	-$18.4M-564.9%	-$2.8M+92.0%	-$34.5M-10.7%	-$31.1M-5.4%	-$29.5M-40.4%	-$21.0M
Depreciation & Amortization	N/A	$64K+64.1%	$39K+333.3%	$9K	N/A	$36K-33.3%	$54K+390.9%	$11K-98.2%	$625K+114.0%	$292K+14.5%	$255K+9.9%	$232K
Stock-Based Compensation	N/A	$6.3M+102.2%	$3.1M-5.8%	$3.3M-18.2%	$4.0M-4.7%	$4.2M+340.8%	$956K+2555.6%	$36K-99.5%	$6.9M+54.3%	$4.5M+236.4%	$1.3M+24.6%	$1.1M
Capital Expenditures	$55K	$116K+213.5%	$37K-58.0%	$88K	N/A	N/A	N/A	$162K-91.8%	$2.0M+200.5%	$655K+24.8%	$525K+127.3%	$231K
Free Cash Flow	-$72.0M	-$51.0M-65.7%	-$30.8M-6.9%	-$28.8M	N/A	N/A	N/A	-$2.9M+92.0%	-$36.4M-14.6%	-$31.8M-5.7%	-$30.1M-41.3%	-$21.3M
Investing Cash Flow	-$147.9M	$36.2M+200.7%	-$36.0M-76680.9%	$47K	N/A	N/A	$3.6M+2311.1%	-$162K+96.1%	-$4.2M+84.9%	-$27.7M-212.8%	$24.6M	N/A
Financing Cash Flow	$163.4M	$69.4M+33.8%	$51.9M+110.1%	$24.7M+240.9%	$7.2M+16556.8%	-$44K-100.1%	$66.7M+1272.9%	$4.9M-88.8%	$43.5M-51.2%	$89.3M+3727.7%	$2.3M	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	-$22.7M-125.6%	-$18.8M-81.6%	-$16.5M-64.5%	-$14.0M-72.1%	-$10.1M-69.5%	-$10.4M-55.3%	-$10.0M-11.6%	-$8.1M+10.2%
Depreciation & Amortization	$20K+33.3%	$19K+46.2%	$19K+90.0%	$17K+70.0%	$15K+50.0%	$13K+44.4%	$10K+66.7%	$10K
Stock-Based Compensation	$3.7M+145.2%	$3.2M+96.1%	N/A	$1.5M+87.0%	$1.5M+86.4%	$1.6M+101.2%	N/A	$791K+2.5%
Capital Expenditures	$0	$0-100.0%	$0-100.0%	$55K	$0	$61K+916.7%	$31K+82.4%	$0
Free Cash Flow	-$22.7M-125.6%	-$18.8M-80.6%	-$16.5M-64.0%	-$14.1M-72.8%	-$10.1M-69.5%	-$10.4M-56.1%	-$10.0M-11.7%	-$8.1M
Investing Cash Flow	-$147.8M	$0-100.0%	$0+100.0%	-$55K	$0	$36.3M+604916.7%	-$36.0M-224818.8%	$0-100.0%
Financing Cash Flow	$161.9M+130.2%	$74K+103.2%	$9K-100.0%	$1.3M+66350.0%	$70.3M+703590.0%	-$2.3M-28925.0%	$51.9M+69269.3%	-$2K-100.0%

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

FBRX 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.

FBRX quarterly financial ratios

Metric	FY25DEF 14A	FY24DEF 14A	FY23DEF 14A	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	-11288.9%	-254.2%	-91775.6%	-64673.5%	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-11302.8%	-271.4%	-94948.8%	-68322.4%	N/A
Return on Equity	-113.8%-46.1pp	-67.6%+21.5pp	-89.1%-53.4pp	-35.8%+16.5pp	-52.3%+26.6pp	-78.8%	N/A	N/A	-54.8%	N/A	N/A
Return on Assets	-83.8%-26.2pp	-57.6%+23.1pp	-80.8%-47.7pp	-33.1%+17.1pp	-50.1%+25.8pp	-75.9%-22.8pp	-53.1%-5.6pp	-47.5%-5.2pp	-42.3%+52.4pp	-94.7%	N/A
Current Ratio	3.88-2.9x	6.76-3.7x	10.45-2.6x	13.06-11.1x	24.19-2.3x	26.52+22.6x	3.93-2.0x	5.91+0.7x	5.23+3.0x	2.26	N/A
Debt-to-Equity	0.36+0.2x	0.17+0.1x	0.100.0x	0.080.0x	0.040.0x	0.04	N/A	N/A	0.05	N/A	N/A
Asset Turnover	N/A	N/A	N/A	N/A	N/A	N/A	0.00-0.2x	0.17+0.2x	0.000.0x	0.00	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-8147.2%	-202.0%	-77531.7%	-61355.1%	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
Return on Equity	-12.7%-1.3pp	-52.6%-11.8pp	N/A	-21.0%+68.6pp	-11.4%+62.4pp	-40.7%-14.9pp	N/A	-89.6%-65.0pp
Return on Assets	-11.3%-0.9pp	-32.9%+0.1pp	N/A	-18.2%+28.5pp	-10.4%+37.5pp	-33.0%-9.8pp	N/A	-46.8%-26.0pp
Current Ratio	10.01-1.7x	2.75-2.5x	3.88-2.9x	7.34+5.3x	11.74+8.9x	5.22-4.2x	6.76-3.7x	2.06-4.2x
Debt-to-Equity	0.120.0x	0.60+0.4x	0.36+0.2x	0.15-0.8x	0.09-0.4x	0.23+0.1x	0.17+0.1x	0.92+0.7x

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
Forte Biosciences, Inc. FBRX	FY2025	N/A	-$69.4M	N/A	$1.6B	—
Zura Bio Limited ZURA	FY2025	N/A	-$68.7M	N/A	$383.3M	—
Inhibikase Therapeutics, Inc. IKT	FY2025	N/A	-$48.3M	N/A	$274.9M	—
Fate Therapeutics, Inc. FATE	FY2025	$6.6M	-$136.3M	N/A	$261.2M	54/100
Avalo Therapeutics, Inc. AVTX	FY2025	$59K	-$78.3M	N/A	$732.0M	—

Where Forte Biosciences, Inc. Ranks

Frequently Asked Questions

Is Forte Biosciences, Inc. profitable?

No, Forte Biosciences, Inc. (FBRX) reported a net income of -$69.4M in fiscal year 2025.

What is Forte Biosciences, Inc.'s EBITDA?

Forte Biosciences, Inc. (FBRX) had EBITDA of -$70.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

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

Forte Biosciences, Inc. (FBRX) has a return on equity of -113.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

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

Forte Biosciences, Inc. (FBRX) recorded an outflow of $51.0M in free cash flow during fiscal year 2025. This represents a -65.7% 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 Forte Biosciences, Inc.'s operating cash flow?

Forte Biosciences, Inc. (FBRX) recorded an outflow of $50.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

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

Forte Biosciences, Inc. (FBRX) had $82.8M in total assets as of fiscal year 2025, including both current and long-term assets.

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

Forte Biosciences, Inc. (FBRX) invested $116K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

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

Forte Biosciences, Inc. (FBRX) invested $57.6M in research and development during fiscal year 2025.

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

Forte Biosciences, Inc. (FBRX) had 14M shares outstanding as of fiscal year 2025.

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

Forte Biosciences, Inc. (FBRX) had a current ratio of 3.88 as of fiscal year 2025, which is generally considered healthy.

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

Forte Biosciences, Inc. (FBRX) had a debt-to-equity ratio of 0.36 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

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

Forte Biosciences, Inc. (FBRX) had a return on assets of -83.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

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

At the end of fiscal year 2025, Forte Biosciences, Inc. (FBRX) held $77.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $50.9M over that year. Dividing the one by the other, the reported balance equals about 18 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 Forte Biosciences, Inc.'s Piotroski F-Score?

Forte Biosciences, Inc. (FBRX) has a Piotroski F-Score of 1 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 Forte Biosciences, Inc.'s earnings high quality?

Forte Biosciences, Inc. (FBRX) reported a net loss of $69.4M while operations used $50.9M 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 Forte Biosciences, Inc. cover its interest payments?

Forte Biosciences, Inc. (FBRX) reported an operating loss of $70.7M against $2.7M 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.