What is Mesoblast Limited's earnings per share (EPS)?

Mesoblast Limited (MESO) reported diluted earnings per share of -$0.08 for fiscal year 2025. This represents a 5.1% 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.

Mesoblast Limited (MESO) Financials

MESO

FY2025 annual

Revenue $17.2M +191.4% YoY

Net Income -$102.1M -16.1% YoY

EPS (Diluted) -$0.08 +5.1% YoY

Free Cash Flow -$50.6M -3.9% YoY

Market Cap $1.7B as of Oct 17, 2026

Price / Sales 100x on $17.2M revenue, FY2025

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

Price / Book 3.0x on $574.7M 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 17, 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 Dec 31, 2025 Reported Feb 27, 2026 Currency USD FYE June

Newest figures come from the 10-K for Q2 FY2026, filed Feb 27, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the MESO SEC filings page.

Mesoblast Limited (MESO) reported $17.2M in revenue for fiscal year 2025, up 191.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 10 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 MESO FY2025 2026-10-04

Mesoblast’s reported scale improved, but losses remain cash-consuming while a goodwill-heavy balance sheet carries little conventional debt.

Revenue expansion took reported revenue from $5.9M in FY2024 to $17.2M in FY2025, showing a meaningful commercial step-up. Operating cash outflow stayed near $48.5M and $50.0M across those years, so growth improved cash intensity without making operations cash-generative.

FY2025 assets included $571.8M of goodwill against $784.7M of total assets; asset composition, rather than sales scale, is therefore central to reading the balance sheet. Total liabilities were $187.2M and long-term debt was $3.6M, producing debt-to-equity of 0.006x; the structure is funded mainly by equity and other liabilities, not conventional borrowing.

The $102.1M net loss was more than double the $50.0M operating cash outflow, indicating a large accounting-to-cash gap rather than cash use matching reported loss. Current ratio reached nearly 2.0x in FY2025 alongside $147.3M of financing cash inflow, so stronger short-term coverage coincided with financing support rather than internally generated cash.

Financial Health Signals

Financial health score not available

Mesoblast Limited 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

4/8

Mesoblast Limited passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality No Cash Backing

N/A

Mesoblast Limited reported a net loss of $102.1M while operations used $50.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Key Financial Metrics

Export CSV

Earnings & Revenue

None of these metrics is reported for Q2 2026.

Cash & Balance Sheet

Cash & Debt

$130.0M

YoY+241.8%

QoQ-19.5%

5Y CAGR+30.4%

Mesoblast Limited held $130.0M in cash against $5.9M in long-term debt as of Q2 2026.

Free Cash Flow

Not reported for Q2 2026.

Dividends Per Share

Not reported for Q2 2026.

Shares Outstanding

Not reported for Q2 2026.

Margins & Returns

None of these metrics is reported for Q2 2026.

Capital Allocation

None of these metrics is reported for Q2 2026.

MESO 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.

MESO quarterly income statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Revenue	$17.2M+191.4%	$5.9M-21.3%	$7.5M-26.5%	$10.2M+37.4%	$7.4M-76.9%	$32.2M+92.3%	$16.7M-3.6%	$17.3M+618.9%	$2.4M-94.3%	$42.5M
Interest Expense	$21.8M+5.3%	$20.7M+6.2%	$19.4M+15.0%	$16.9M+6.1%	$15.9M+8.3%	$14.7M+25.7%	$11.7M+539.9%	$1.8M	N/A	N/A
Income Tax	$330K+272.8%	-$191K+9.9%	-$212K+11.3%	-$239K+70.8%	-$819K+91.3%	-$9.4M-5.1%	-$9.0M+70.8%	-$30.7M-129.0%	-$13.4M+84.5%	-$86.7M
Net Income	-$102.1M-16.1%	-$88.0M-7.4%	-$81.9M+10.4%	-$91.3M+7.6%	-$98.8M-26.8%	-$77.9M+13.2%	-$89.8M-154.5%	-$35.3M+54.1%	-$76.8M-1761.3%	-$4.1M
EPS (Basic)	-$0.08+5.1%	-$0.09+15.4%	-$0.11+21.3%	-$0.13+18.1%	-$0.16-10.8%	-$0.15+18.8%	-$0.18-139.6%	-$0.08+60.6%	-$0.19-1603.5%	-$0.01
EPS (Diluted)	-$0.08+5.1%	-$0.09+15.4%	-$0.11+21.3%	-$0.13+18.1%	-$0.16-10.8%	-$0.15+18.8%	-$0.18-139.6%	-$0.08+60.6%	-$0.19-1603.5%	-$0.01
Diluted Shares (Avg)	1.21B+22.4%	987M+26.9%	778M+13.9%	683M+12.9%	605M+14.4%	529M+7.0%	494M+6.2%	466M+16.7%	399M+9.6%	364M

Metric	Q2'2610-K	Q4'2510-K	Q2'2510-Q	Q4'2420-F	Q2'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q
Revenue	N/A	N/A	N/A	N/A	N/A	$1.9M-13.4%	$1.9M-3.6%	$2.1M-10.4%
Interest Expense	N/A	N/A	N/A	N/A	N/A	$5.1M+15.6%	$4.9M+13.9%	$4.9M+20.7%
Income Tax	N/A	N/A	N/A	N/A	N/A	-$40K+23.1%	-$46K-2.2%	-$71K+11.3%
Net Income	N/A	N/A	N/A	N/A	N/A	-$21.9M-2.2%	-$18.6M+12.7%	-$24.5M+5.6%
EPS (Basic)	N/A	N/A	N/A	N/A	N/A	-$0.03+15.5%	-$0.03+22.9%	-$0.03+17.0%
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	-$0.03+15.5%	-$0.03+22.9%	-$0.03+17.0%
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	N/A	737M+13.4%	737M+13.7%

Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA.

MESO Balance Sheet

MESO quarterly balance sheet

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Total Assets	$784.7M+17.3%	$669.2M0.0%	$669.4M+1.1%	$662.1M-11.1%	$744.7M+1.5%	$733.6M+12.5%	$652.1M-5.8%	$692.4M+5.6%	$655.7M	N/A
Current Assets	$204.3M+136.3%	$86.5M+5.9%	$81.7M+16.9%	$69.8M-52.9%	$148.2M+8.6%	$136.5M+118.4%	$62.5M-38.1%	$101.1M+58.9%	$63.6M	N/A
Cash & Equivalents	$161.6M+156.6%	$63.0M-11.7%	$71.3M+18.0%	$60.4M-55.8%	$136.9M+5.8%	$129.3M+156.5%	$50.4M+33.5%	$37.8M-17.5%	$45.8M-43.5%	$80.9M
Inventory	$22.2M	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$14.9M-29.0%	$21.0M+199.4%	$7.0M+58.9%	$4.4M-9.1%	$4.8M+207.6%	$1.6M-61.2%	$4.1M-91.9%	$50.4M+1245.6%	$3.7M	N/A
Goodwill	$571.8M-0.7%	$575.7M-0.3%	$577.2M-0.3%	$578.7M-0.3%	$580.5M-0.2%	$581.6M-0.3%	$583.1M-0.3%	$584.6M-0.3%	$586.4M-0.3%	$587.8M
Total Liabilities	$187.2M-0.8%	$188.8M+12.7%	$167.6M+1.5%	$165.1M+1.1%	$163.3M-11.4%	$184.3M+7.7%	$171.1M+16.8%	$146.4M+5.4%	$138.9M	N/A
Current Liabilities	$102.6M+40.1%	$73.2M+74.5%	$42.0M-18.3%	$51.4M-45.5%	$94.3M+4.6%	$90.1M+103.3%	$44.3M+84.7%	$24.0M-34.5%	$36.7M	N/A
Non-Current Liabilities	$84.6M-26.8%	$115.6M-8.0%	$125.6M+10.4%	$113.7M+64.7%	$69.0M-26.6%	$94.1M-25.7%	$126.7M+3.5%	$122.4M+19.7%	$102.3M	N/A
Long-Term Debt	$3.6M+83.6%	$2.0M-46.8%	$3.7M-48.2%	$7.1M-16.5%	$8.5M+34.3%	$6.3M	$0-100.0%	$59.4M	$0	N/A
Total Equity	$597.4M+24.4%	$480.4M-4.3%	$501.8M+1.0%	$497.0M-14.5%	$581.4M+5.8%	$549.3M+14.2%	$481.1M-11.9%	$546.0M+5.7%	$516.8M-2.2%	$528.2M
Retained Earnings	-$1.0B-11.2%	-$908.8M-10.7%	-$820.8M-11.1%	-$738.9M-14.1%	-$647.6M-18.0%	-$548.8M-16.8%	-$470.0M-23.6%	-$380.2M-10.2%	-$344.9M	N/A

Metric	Q2'2610-K	Q4'2510-K	Q2'2510-Q	Q4'2420-F	Q2'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q
Total Assets	$782.3M+19.7%	$784.7M+17.3%	$653.3M-2.5%	$669.2M0.0%	$670.3M+0.3%	$669.4M+1.1%	$650.4M-4.6%	$668.1M-5.2%
Current Assets	$202.5M+190.6%	$204.3M+136.3%	$69.7M-18.2%	$86.5M+5.9%	$85.2M+9.0%	$81.7M+16.9%	$61.4M-30.4%	$78.1M-28.2%
Cash & Equivalents	$130.0M+241.8%	$161.6M+156.6%	$38.0M-51.0%	$63.0M-11.7%	$77.6M+14.7%	$71.3M+18.0%	$48.8M-36.4%	$67.6M-28.7%
Inventory	$21.7M-10.5%	$22.2M	$24.2M	$0	N/A	N/A	N/A	N/A
Accounts Receivable	$43.3M+1345.3%	$14.9M-29.0%	$3.0M-25.1%	$21.0M+199.4%	$4.0M-21.8%	$7.0M+58.9%	$8.4M+49.0%	$5.1M-15.4%
Goodwill	$568.8M-1.1%	$571.8M-0.7%	$574.9M-0.3%	$575.7M-0.3%	$576.6M-0.2%	$577.2M-0.3%	$577.5M-0.2%	$577.9M-0.3%
Total Liabilities	$207.6M+8.1%	$187.2M-0.8%	$192.1M+18.9%	$188.8M+12.7%	$161.6M-3.9%	$167.6M+1.5%	$168.3M+2.3%	$168.1M-0.5%
Current Liabilities	$128.1M+76.0%	$102.6M+40.1%	$72.8M+131.9%	$73.2M+74.5%	$31.4M-42.5%	$42.0M-18.3%	$53.9M+3.3%	$54.6M-5.8%
Non-Current Liabilities	$79.6M-33.3%	$84.6M-26.8%	$119.3M-8.4%	$115.6M-8.0%	$130.2M+14.7%	$125.6M+10.4%	$114.4M+1.8%	$113.5M+2.3%
Long-Term Debt	$5.9M+24.0%	$3.6M+83.6%	$4.8M+40.3%	$2.0M-46.8%	$3.4M-32.3%	$3.7M-48.2%	$4.6M-42.3%	$5.0M-37.0%
Total Equity	$574.7M+24.6%	$597.4M+24.4%	$461.3M-9.3%	$480.4M-4.3%	$508.7M+1.7%	$501.8M+1.0%	$482.2M-6.8%	$500.0M-6.6%
Retained Earnings	-$1.1B-9.9%	-$1.0B-11.2%	-$956.7M-12.1%	-$908.8M-10.7%	-$853.3M-9.4%	-$820.8M-11.1%	-$798.9M-11.3%	-$780.3M-12.1%

Not reported in any period shown, so not listed: Short-Term Investments, Long-Term Investments.

MESO Cash Flow Statement

MESO quarterly cash flow statement

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Operating Cash Flow	-$50.0M-3.1%	-$48.5M+23.4%	-$63.3M+3.8%	-$65.8M+34.7%	-$100.7M-99.8%	-$50.4M+12.8%	-$57.8M+23.0%	-$75.0M+21.4%	-$95.5M-8.5%	-$88.0M
Depreciation & Amortization	$6.4M+37.2%	$4.7M+13.6%	$4.1M-6.2%	$4.4M+2.7%	$4.3M+16.3%	$3.7M+71.4%	$2.1M-19.3%	$2.6M-13.3%	$3.1M+39.5%	$2.2M
Capital Expenditures	$680K+150.9%	$271K+2.7%	$264K	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	-$50.6M-3.9%	-$48.7M+23.3%	-$63.5M	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	$120K+223.7%	-$97K+50.0%	-$194K+16.4%	-$232K+85.9%	-$1.6M+49.7%	-$3.3M-227.3%	-$1.0M+13.3%	-$1.2M-912.0%	$142K+108.2%	-$1.7M
Financing Cash Flow	$147.3M+266.0%	$40.3M-46.0%	$74.5M+854.8%	-$9.9M-109.1%	$108.5M-17.2%	$131.1M+83.1%	$71.6M+4.4%	$68.6M+14.3%	$60.0M-3.3%	$62.1M

Metric	Q2'2610-K	Q4'2510-K	Q2'2510-Q	Q4'2420-F	Q2'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	-$16.3M-17.2%	-$16.3M-5.0%	-$16.5M+9.7%
Depreciation & Amortization	N/A	N/A	N/A	N/A	N/A	$927K-13.4%	$990K-11.1%	$1.1M-1.5%
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	$16K+134.0%	$27K+148.2%	-$34K-13.3%
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	$38.8M+1849.0%	-$2.5M+1.2%	-$2.0M+31.4%

Not reported in any period shown, so not listed: Stock-Based Compensation, Capital Expenditures, Free Cash Flow, Dividends Paid, Share Buybacks.

MESO 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.

MESO quarterly financial ratios

Metric	FY2520-F	FY2420-F	FY2320-F	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K
Net Margin	-593.9%	-1490.3%	-1091.7%	-894.6%	-1329.2%	-242.4%	-537.0%	-203.5%	-3184.7%	-9.7%
Return on Equity	-17.1%+1.2pp	-18.3%-2.0pp	-16.3%+2.1pp	-18.4%-1.4pp	-17.0%-2.8pp	-14.2%+4.5pp	-18.7%-12.2pp	-6.5%+8.4pp	-14.9%-14.1pp	-0.8%
Return on Assets	-13.0%+0.1pp	-13.1%-0.9pp	-12.2%+1.6pp	-13.8%-0.5pp	-13.3%-2.7pp	-10.6%+3.1pp	-13.8%-8.7pp	-5.1%+6.6pp	-11.7%	N/A
Current Ratio	1.99+0.8x	1.18-0.8x	1.95+0.6x	1.36-0.2x	1.57+0.1x	1.51+0.1x	1.41-2.8x	4.21+2.5x	1.73	N/A
Debt-to-Equity	0.010.0x	0.000.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x	0.00-0.1x	0.11+0.1x	0.00	N/A
Asset Turnover	0.020.0x	0.010.0x	0.010.0x	0.020.0x	0.010.0x	0.040.0x	0.030.0x	0.030.0x	0.00	N/A
FCF Margin	-294.4%	-825.6%	-847.0%	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q2'2610-K	Q4'2510-K	Q2'2510-Q	Q4'2420-F	Q2'2410-Q	Q4'2310-K	Q3'2310-Q	Q2'2310-Q
Net Margin	N/A	N/A	N/A	N/A	N/A	-1138.7%	-959.3%	-1147.4%
Return on Equity	N/A	N/A	N/A	N/A	N/A	-4.4%-0.1pp	-3.9%+0.3pp	-4.9%-0.1pp
Return on Assets	N/A	N/A	N/A	N/A	N/A	-3.3%0.0pp	-2.9%+0.3pp	-3.7%0.0pp
Current Ratio	1.58+0.6x	1.99+0.8x	0.96-1.8x	1.18-0.8x	2.71+1.3x	1.95+0.6x	1.14-0.6x	1.43-0.4x
Debt-to-Equity	0.010.0x	0.010.0x	0.010.0x	0.000.0x	0.010.0x	0.010.0x	0.010.0x	0.010.0x
Asset Turnover	N/A	N/A	N/A	N/A	N/A	0.000.0x	0.000.0x	0.000.0x

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

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: Net 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
Mesoblast Limited MESO	FY2025	$17.2M	-$102.1M	N/A	$1.7B	—
Sarepta Therapeutics,, Inc. SRPT	FY2025	$2.2B	-$713.4M	-32.5%	$1.8B	44/100
Dyne Therapeutics, Inc. DYN	FY2025	N/A	-$446	N/A	$2.7B	—
Immunocore Holdings plc IMCR	FY2025	$400.0M	-$35.5M	-8.9%	$1.5B	65/100
Aurinia Pharmaceuticals Inc AUPH	FY2025	$283.1M	$287.2M	N/A	$2.2B	56/100
Harmony Biosciences Holdings, Inc. HRMY	FY2025	$868.5M	$158.7M	18.3%	$2.2B	88/100

Where Mesoblast Limited Ranks

Frequently Asked Questions

What is Mesoblast Limited's annual revenue?

Mesoblast Limited (MESO) reported $17.2M in total revenue for fiscal year 2025. This represents a 191.4% 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 Mesoblast Limited's revenue growing?

Mesoblast Limited (MESO) revenue grew by 191.4% year-over-year, from $5.9M to $17.2M in fiscal year 2025.

Is Mesoblast Limited profitable?

No, Mesoblast Limited (MESO) reported a net income of -$102.1M in fiscal year 2025.

How much debt does Mesoblast Limited have?

As of fiscal year 2025, Mesoblast Limited (MESO) had $161.6M in cash and equivalents against $3.6M in long-term debt.

What is Mesoblast Limited's return on equity (ROE)?

Mesoblast Limited (MESO) has a return on equity of -17.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Mesoblast Limited's free cash flow?

Mesoblast Limited (MESO) recorded an outflow of $50.6M in free cash flow during fiscal year 2025. This represents a -3.9% 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 Mesoblast Limited's operating cash flow?

Mesoblast Limited (MESO) recorded an outflow of $50.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.

What are Mesoblast Limited's total assets?

Mesoblast Limited (MESO) had $784.7M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Mesoblast Limited's capital expenditures?

Mesoblast Limited (MESO) invested $680K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Mesoblast Limited have outstanding?

Mesoblast Limited (MESO) had 1.28B shares outstanding as of fiscal year 2025.

What is Mesoblast Limited's current ratio?

Mesoblast Limited (MESO) had a current ratio of 1.99 as of fiscal year 2025, which is generally considered healthy.

What is Mesoblast Limited's debt-to-equity ratio?

Mesoblast Limited (MESO) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Mesoblast Limited's return on assets (ROA)?

Mesoblast Limited (MESO) had a return on assets of -13.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Mesoblast Limited's P/E ratio?

Mesoblast Limited (MESO) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $1.7B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mesoblast Limited's price-to-sales ratio?

Mesoblast Limited (MESO) trades at 100x sales, its market capitalization divided by revenue of $17.2M revenue, FY2025. The market capitalization is $1.7B as of Oct 17, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.

What is Mesoblast Limited's Piotroski F-Score?

Mesoblast Limited (MESO) has a Piotroski F-Score of 4 out of 8 computable signals; 1 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 Mesoblast Limited's earnings high quality?

Mesoblast Limited (MESO) reported a net loss of $102.1M while operations used $50.0M 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.