Disc Medicine, Inc. (IRON) Financials
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 12, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Jul 30, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the IRON SEC filings page.
This page shows Disc Medicine, Inc. (IRON) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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).
Disc Medicine is a development-stage business where rising research spending creates larger cash losses despite a lightly indebted balance sheet.
From FY2023 to FY2025, operating losses widened from$91.1M to$236.0M , revealing a sharply expanding investment cycle rather than a stable cost base. In FY2025, operating cash flow was-$180.4M against a net loss of$212.2M , so reported losses were largely translating into cash use rather than being mainly noncash.
In FY2025, research and development was
Free cash flow nearly matched operating cash flow in FY2025 at
Financial Health Signals
Disc Medicine, 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.
Disc Medicine, Inc. passes 3 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.
Disc Medicine, Inc. reported a net loss of $212.2M while operations used $180.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Disc Medicine, Inc. reported an operating loss of $236.0M against $3.6M 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
Earnings & Revenue
Disc Medicine, Inc.'s EBITDA was -$65.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 6.0% from the same quarter a year earlier. Against the prior quarter it is up 6.4%.
Disc Medicine, Inc. reported -$59.5M in net income in Q2 2026. This represents a decrease of 7.8% from the same quarter a year earlier. Against the prior quarter it is up 6.3%.
Disc Medicine, Inc. earned -$1.54 per diluted share (EPS) in Q2 2026. This represents an increase of 2.5% from the same quarter a year earlier. Against the prior quarter it is up 6.7%.
Not reported for Q2 2026.
Cash & Balance Sheet
Disc Medicine, Inc. recorded an outflow of $44.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 7.8% from the same quarter a year earlier. Against the prior quarter it is up 29.0%.
Disc Medicine, Inc. held $98.7M in cash against $59.3M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
Disc Medicine, Inc.'s ROE was -9.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 0.2 percentage points from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Disc Medicine, Inc. invested $46.9M in research and development in Q2 2026. This represents an increase of 1.3% from the same quarter a year earlier. Against the prior quarter it is up 2.2%.
Disc Medicine, Inc. reported no capital expenditure in Q2 2026. This represents a decrease of 100.0% from the same quarter a year earlier.
Not reported for Q2 2026.
IRON 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.
| 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 | $46.9M+1.3% | $45.9M+65.3% | N/A | $50.3M+103.9% | $46.3M+97.2% | $27.8M+17.1% | N/A | $24.7M+71.2% |
| SG&A Expenses | $18.1M+20.2% | $23.6M+93.9% | N/A | $17.4M+112.5% | $15.1M+104.8% | $12.2M+57.0% | N/A | $8.2M+80.0% |
| Operating Income | -$65.1M-6.0% | -$69.5M-74.0% | N/A | -$67.7M-106.0% | -$61.4M-99.0% | -$39.9M-27.0% | N/A | -$32.9M-73.3% |
| EBITDA | -$65.0M-6.0% | -$69.4M-73.9% | N/A | -$67.6M-105.8% | -$61.3M-99.5% | -$39.9M-27.0% | N/A | -$32.8M-73.5% |
| Interest Expense | $908K-0.2% | $844K-5.9% | N/A | $917K | $910K | $897K | N/A | $0 |
| Income Tax | $69K+32.7% | $51K-57.1% | N/A | $102K-10.5% | $52K-13.3% | $119K+2280.0% | N/A | $114K+470.0% |
| Net Income | -$59.5M-7.8% | -$63.5M-86.3% | N/A | -$62.3M-134.3% | -$55.2M-109.7% | -$34.1M-26.5% | N/A | -$26.6M-88.4% |
| EPS (Basic) | -$1.54+2.5% | -$1.65-61.8% | -$1.62-65.3% | -$1.77-98.9% | -$1.58-53.4% | -$1.02+6.4% | -$0.98-1.0% | -$0.89-53.4% |
| EPS (Diluted) | -$1.54+2.5% | -$1.65-61.8% | -$1.62-65.3% | -$1.77-98.9% | -$1.58-53.4% | -$1.02+6.4% | -$0.98-1.0% | -$0.89-53.4% |
| Diluted Shares (Avg) | 39M+10.5% | 38M+15.5% | N/A | 35M+17.5% | 35M+36.6% | 33M+34.3% | N/A | 30M+23.1% |
Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit.
IRON Balance Sheet
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.
| 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 | $735.1M+10.5% | $750.2M+5.8% | $806.9M+62.4% | $630.5M+27.3% | $665.1M+30.3% | $709.3M+100.3% | $496.8M+35.0% | $495.1M+31.5% |
| Current Assets | $732.8M+10.8% | $747.5M+5.9% | $803.9M+62.9% | $627.2M+27.2% | $661.6M+30.2% | $705.6M+100.5% | $493.6M+35.0% | $493.2M+31.8% |
| Cash & Equivalents | $98.7M-22.5% | $88.9M-27.5% | $91.1M-52.6% | $140.7M-27.0% | $127.3M-54.6% | $122.7M-64.2% | $192.4M-46.6% | $192.6M-48.0% |
| Short-Term Investments | $619.1M+18.5% | $641.2M+12.1% | $700.0M+135.3% | $475.3M+61.3% | $522.6M+137.3% | $572.0M | $297.4M | $294.7M |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $90.9M+78.6% | $61.8M+26.3% | $67.1M+26.1% | $57.1M+109.9% | $50.9M+138.0% | $48.9M+203.5% | $53.2M+132.5% | $27.2M+55.1% |
| Current Liabilities | $30.4M+47.3% | $31.1M+66.2% | $36.6M+57.1% | $26.7M+5.0% | $20.6M+1.5% | $18.7M+26.2% | $23.3M+8.8% | $25.5M+76.7% |
| Non-Current Liabilities | $60.5M+99.9% | $30.6M+1.6% | $30.4M+1.8% | $30.3M+1671.1% | $30.3M+2709.8% | $30.2M+2295.8% | $29.9M+1980.1% | $1.7M-44.9% |
| Long-Term Debt | $59.3M+106.5% | $29.4M+2.9% | $29.2M+3.0% | $28.9M | $28.7M | $28.5M | $28.3M | N/A |
| Total Equity | $644.2M+4.9% | $688.4M+4.3% | $739.8M+66.8% | $573.4M+22.5% | $614.2M+25.6% | $660.4M+95.3% | $443.6M+28.5% | $468.0M+30.4% |
| Retained Earnings | -$633.2M-63.5% | -$573.7M-72.8% | -$510.2M-71.2% | -$449.7M-67.4% | -$387.3M-60.1% | -$332.1M-54.0% | -$298.0M-58.0% | -$268.5M-62.7% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Goodwill.
IRON Cash Flow 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.
| 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 | -$44.2M+7.8% | -$62.2M-50.4% | -$43.3M-57.0% | -$47.8M-175.3% | -$47.9M-211.3% | -$41.4M-23.1% | -$27.6M-54.9% | -$17.4M-132.2% |
| Depreciation & Amortization | $90K+5.9% | $89K+345.0% | $89K+888.9% | $87K+690.9% | $85K-22.7% | $20K-23.1% | $9K-64.0% | $11K-56.0% |
| Stock-Based Compensation | $13.9M+65.7% | $11.9M+87.7% | N/A | $9.5M+119.6% | $8.4M+105.8% | $6.4M+56.8% | N/A | $4.3M+241.1% |
| Capital Expenditures | $0-100.0% | $0-100.0% | $20K-95.5% | $26K+225.0% | $36K+1100.0% | $851K+1170.1% | $449K+14866.7% | -$8K-82.2% |
| Free Cash Flow | -$44.2M+7.8% | -$62.2M-47.4% | -$43.3M-54.6% | -$47.8M-175.3% | -$48.0M-211.5% | -$42.2M-25.4% | -$28.0M-57.4% | -$17.4M-130.9% |
| Investing Cash Flow | $21.6M-58.2% | $58.3M+121.4% | -$222.9M-15530.6% | $49.5M+169.7% | $51.7M+123.5% | -$272.6M-406814.9% | -$1.4M-47433.3% | -$71.1M-157877.8% |
| Financing Cash Flow | $32.3M+3525.0% | $1.7M-99.3% | $216.7M+652.4% | $11.6M+2620.2% | $892K-99.5% | $244.3M+1436.2% | $28.8M+271.2% | $426K-7.4% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
IRON 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.
| 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 | -9.2%-0.2pp | -9.2%-4.1pp | N/A | -10.9%-5.2pp | -9.0%-3.6pp | -5.2%+2.8pp | N/A | -5.7%-1.8pp |
| Return on Assets | -8.1%+0.2pp | -8.5%-3.6pp | N/A | -9.9%-4.5pp | -8.3%-3.1pp | -4.8%+2.8pp | N/A | -5.4%-1.6pp |
| Current Ratio | 24.14-8.0x | 24.00-13.6x | 21.94+0.8x | 23.45+4.1x | 32.11+7.1x | 37.65+14.0x | 21.17+4.1x | 19.36-6.6x |
| Debt-to-Equity | 0.090.0x | 0.040.0x | 0.040.0x | 0.050.0x | 0.050.0x | 0.040.0x | 0.06+0.1x | 0.060.0x |
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 |
|---|---|---|---|---|---|---|
| Disc Medicine, Inc. IRON | FY2025 | N/A | -$212.2M | N/A | $2.3B | — |
| Tarsus Pharmaceuticals, Inc. TARS | FY2025 | $451.4M | -$66.0M | -14.6% | $3.4B | 49/100 |
| Agios Pharmaceuticals, Inc. AGIO | FY2025 | $54.0M | -$413.0M | N/A | $1.9B | 70/100 |
| Travere Therapeutics, Inc. TVTX | FY2025 | $490.7M | -$25.5M | -5.2% | $4.9B | 71/100 |
| Arcutis Biotherapeutics, Inc. ARQT | FY2025 | $376.1M | -$16.1M | -4.3% | $3.3B | 45/100 |
| Ocular Therapeutix, Inc. OCUL | FY2025 | $52.0M | -$265.9M | N/A | $1.7B | 53/100 |
Where Disc Medicine, Inc. Ranks
Frequently Asked Questions
Is Disc Medicine, Inc. profitable?
No, Disc Medicine, Inc. (IRON) reported a net income of -$212.2M in fiscal year 2025.
What is Disc Medicine, Inc.'s EBITDA?
Disc Medicine, Inc. (IRON) had EBITDA of -$235.7M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Disc Medicine, Inc. have?
As of fiscal year 2025, Disc Medicine, Inc. (IRON) had $91.1M in cash and equivalents against $29.2M in long-term debt.
What is Disc Medicine, Inc.'s return on equity (ROE)?
Disc Medicine, Inc. (IRON) has a return on equity of -28.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Disc Medicine, Inc.'s free cash flow?
Disc Medicine, Inc. (IRON) recorded an outflow of $181.3M in free cash flow during fiscal year 2025. This represents a -92.0% 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 Disc Medicine, Inc.'s operating cash flow?
Disc Medicine, Inc. (IRON) recorded an outflow of $180.4M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Disc Medicine, Inc.'s total assets?
Disc Medicine, Inc. (IRON) had $806.9M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Disc Medicine, Inc.'s capital expenditures?
Disc Medicine, Inc. (IRON) invested $933K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Disc Medicine, Inc. spend on research and development?
Disc Medicine, Inc. (IRON) invested $170.6M in research and development during fiscal year 2025.
What is Disc Medicine, Inc.'s current ratio?
Disc Medicine, Inc. (IRON) had a current ratio of 21.94 as of fiscal year 2025, which is generally considered healthy.
What is Disc Medicine, Inc.'s debt-to-equity ratio?
Disc Medicine, Inc. (IRON) had a debt-to-equity ratio of 0.04 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Disc Medicine, Inc.'s return on assets (ROA)?
Disc Medicine, Inc. (IRON) had a return on assets of -26.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Disc Medicine, Inc.'s P/E ratio?
Disc Medicine, Inc. (IRON) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $2.3B as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Disc Medicine, Inc.'s price-to-sales ratio?
Disc Medicine, Inc. (IRON) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $2.3B as of Oct 12, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Disc Medicine, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Disc Medicine, Inc. (IRON) held $791.2M in cash, cash equivalents and investments, and reported an operating cash outflow of $180.4M over that year. Dividing the one by the other, the reported balance equals about 53 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 Disc Medicine, Inc.'s Piotroski F-Score?
Disc Medicine, Inc. (IRON) 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 Disc Medicine, Inc.'s earnings high quality?
Disc Medicine, Inc. (IRON) reported a net loss of $212.2M while operations used $180.4M 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 Disc Medicine, Inc. cover its interest payments?
Disc Medicine, Inc. (IRON) reported an operating loss of $236.0M against $3.6M 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.