Pliant Therapeutics, Inc. Financials

PLRX

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

Financial Health Signals

Piotroski F-Score Weak

1/9

Pliant Therapeutics, Inc. passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Low Quality

0.74x

For every $1 of reported earnings, Pliant Therapeutics, Inc. generates $0.74 in operating cash flow (-$155.5M OCF vs -$210.3M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-75.5x

Pliant Therapeutics, Inc. earns $-75.5 in operating income for every $1 of interest expense (-$228.4M vs $3.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Pliant Therapeutics, Inc. (PLRX) 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).

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Key Financial Metrics

Revenue

YoY-100.0%

Pliant Therapeutics, Inc. generated $0 in revenue in fiscal year 2024. This represents a decrease of 100.0% from the prior year.

EBITDA

-$226.2M

YoY-24.1%

Pliant Therapeutics, Inc.'s EBITDA was -$226.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 24.1% from the prior year.

Free Cash Flow

-$159.4M

YoY-35.9%

Pliant Therapeutics, Inc. generated -$159.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 35.9% from the prior year.

Net Income

-$210.3M

YoY-30.4%

Pliant Therapeutics, Inc. reported -$210.3M in net income in fiscal year 2024. This represents a decrease of 30.4% from the prior year.

EPS (Diluted)

$-3.47

YoY-26.2%

Pliant Therapeutics, Inc. earned $-3.47 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 26.2% from the prior year.

Cash & Debt

$71.2M

YoY+12.6%

5Y CAGR-3.7%

Pliant Therapeutics, Inc. held $71.2M in cash against $30.2M in long-term debt as of fiscal year 2024.

Dividends Per Share

$0.00

Pliant Therapeutics, Inc. paid $0.00 per share in dividends in fiscal year 2024.

Shares Outstanding

61M

YoY+1.6%

Pliant Therapeutics, Inc. had 61M shares outstanding in fiscal year 2024. This represents an increase of 1.6% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$169.3M

YoY+32.5%

5Y CAGR+29.0%

Pliant Therapeutics, Inc. invested $169.3M in research and development in fiscal year 2024. This represents an increase of 32.5% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$3.8M

YoY+317.8%

5Y CAGR+31.9%

Pliant Therapeutics, Inc. invested $3.8M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 317.8% from the prior year.

PLRX Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$0-100.0%	$1.6M-83.7%	$9.7M+27.9%	$7.6M-81.9%	$41.8M-26.7%	$57.1M
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	$169.3M+32.5%	$127.8M+31.8%	$96.9M+25.0%	$77.5M+17.2%	$66.2M+39.8%	$47.4M
SG&A Expenses	$59.1M+1.9%	$57.9M+45.0%	$39.9M+45.0%	$27.6M+59.6%	$17.3M+58.0%	$10.9M
Operating Income	-$228.4M-24.0%	-$184.1M-44.8%	-$127.2M-30.4%	-$97.5M-134.2%	-$41.6M-3283.0%	-$1.2M
Interest Expense	$3.0M+138.7%	$1.3M+60.2%	$791K	$0	N/A	N/A
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	-$210.3M-30.4%	-$161.3M-30.8%	-$123.3M-26.8%	-$97.3M-134.2%	-$41.5M-6482.1%	-$631K
EPS (Diluted)	$-3.47-26.2%	$-2.75+6.5%	$-2.94-8.5%	$-2.71-39.0%	$-1.95	$-4.22

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Revenue	N/A	$0	$0	$0	$0	$0-100.0%	$248K-81.4%	$1.3M
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	$17.9M-53.8%	$38.8M-15.0%	$45.6M+22.8%	$37.1M+11.9%	$33.2M+2.6%	$32.3M-2.0%	$33.0M+12.7%	$29.3M
SG&A Expenses	$10.3M-28.9%	$14.5M-3.3%	$15.0M-1.5%	$15.2M+10.0%	$13.9M-9.7%	$15.3M+5.3%	$14.6M+3.0%	$14.2M
Operating Income	-$28.3M+47.0%	-$53.3M+12.1%	-$60.6M-15.7%	-$52.4M-11.4%	-$47.0M+1.4%	-$47.7M-0.8%	-$47.3M-12.4%	-$42.1M
Interest Expense	$815K-2.3%	$834K-3.9%	$868K+95.1%	$445K+39.1%	$320K+0.9%	$317K-0.6%	$319K+2.6%	$311K
Income Tax	$0	$0	$0	$0	$0	$0	$0	$0
Net Income	-$26.3M+47.1%	-$49.7M+11.0%	-$55.9M-19.0%	-$47.0M-14.2%	-$41.1M+0.9%	-$41.5M-0.7%	-$41.2M-9.7%	-$37.5M
EPS (Diluted)	$-0.43+47.6%	$-0.82+10.9%	$-0.92-17.9%	$-0.78-14.7%	$-0.68+2.9%	$-0.700.0%	$-0.70-4.5%	$-0.67

PLRX Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$396.9M-22.5%	$512.2M+46.1%	$350.6M+58.5%	$221.2M-25.1%	$295.5M+148.2%	$119.1M
Current Assets	$362.3M-28.3%	$505.5M+48.5%	$340.3M+62.5%	$209.4M-28.0%	$290.8M+159.8%	$111.9M
Cash & Equivalents	$71.2M+12.6%	$63.2M+87.7%	$33.7M-34.8%	$51.7M+1.5%	$50.9M-40.7%	$85.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	$0-100.0%	$2.0M-0.8%	$2.0M-78.5%	$9.3M+31.6%	$7.1M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$92.9M+140.7%	$38.6M+3.5%	$37.3M+68.2%	$22.2M+77.7%	$12.5M-93.6%	$195.4M
Current Liabilities	$33.2M+16.5%	$28.5M+19.3%	$23.9M+42.1%	$16.8M+45.1%	$11.6M+41.9%	$8.2M
Long-Term Debt	$30.2M+200.5%	$10.1M+1.3%	$9.9M	$0	N/A	N/A
Total Equity	$304.1M-35.8%	$473.6M+51.1%	$313.3M+57.4%	$199.1M-29.7%	$283.1M+471.0%	-$76.3M
Retained Earnings	-$710.1M-42.1%	-$499.7M-47.7%	-$338.4M-57.3%	-$215.1M-82.5%	-$117.8M-54.4%	-$76.3M

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Total Assets	$276.6M-30.3%	$396.9M-17.9%	$483.7M-7.3%	$521.6M+1.8%	$512.2M-5.2%	$540.5M-6.0%	$574.9M-3.8%	$597.9M
Current Assets	$245.6M-32.2%	$362.3M-19.1%	$447.6M-8.6%	$489.9M-3.1%	$505.5M-5.4%	$534.3M-5.5%	$565.7M-3.8%	$588.2M
Cash & Equivalents	$93.7M+31.7%	$71.2M-11.4%	$80.4M-29.7%	$114.3M+80.8%	$63.2M+9.6%	$57.7M+5.0%	$55.0M-46.4%	$102.5M
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	$0	$0-100.0%	$1.6M-52.1%	$3.3M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$76.3M-17.8%	$92.9M+2.0%	$91.1M+8.0%	$84.3M+118.4%	$38.6M+3.1%	$37.4M-10.5%	$41.8M+16.3%	$36.0M
Current Liabilities	$17.6M-46.9%	$33.2M+7.4%	$30.9M+1.8%	$30.4M+6.5%	$28.5M+4.1%	$27.4M-7.2%	$29.5M+27.5%	$23.2M
Long-Term Debt	$30.4M+0.8%	$30.2M+0.5%	$30.1M+0.2%	$30.0M+198.4%	$10.1M+0.3%	$10.0M+0.3%	$10.0M+0.3%	$10.0M
Total Equity	$200.3M-34.1%	$304.1M-22.6%	$392.7M-10.2%	$437.3M-7.7%	$473.6M-5.9%	$503.0M-5.6%	$533.1M-5.1%	$561.9M
Retained Earnings	-$835.8M-17.7%	-$710.1M-17.8%	-$602.6M-10.2%	-$546.7M-9.4%	-$499.7M-9.0%	-$458.6M-9.9%	-$417.2M-11.0%	-$376.0M

PLRX Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$155.5M-33.6%	-$116.4M-23.0%	-$94.6M-25.4%	-$75.4M-102.4%	-$37.3M-1255.3%	-$2.8M
Capital Expenditures	$3.8M+317.8%	$921K-47.7%	$1.8M-9.9%	$2.0M+27.5%	$1.5M+58.9%	$964K
Free Cash Flow	-$159.4M-35.9%	-$117.3M-21.7%	-$96.4M-24.5%	-$77.4M-99.5%	-$38.8M-944.8%	-$3.7M
Investing Cash Flow	$140.3M+210.5%	-$127.0M+15.4%	-$150.2M-303.8%	$73.7M+135.0%	-$210.9M-1076.0%	-$17.9M
Financing Cash Flow	$23.1M-91.6%	$274.4M+21.0%	$226.9M+8877.2%	$2.5M-98.8%	$213.2M+368.2%	$45.5M
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	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Operating Cash Flow	-$21.1M+55.8%	-$47.7M-5.2%	-$45.3M-49.6%	-$30.3M-20.6%	-$25.1M+30.7%	-$36.2M-46.3%	-$24.8M+18.2%	-$30.3M
Capital Expenditures	$0-100.0%	$209K-83.3%	$1.3M-16.2%	$1.5M+2345.9%	$61K-35.1%	$94K-84.4%	$603K+269.9%	$163K
Free Cash Flow	-$21.1M+56.0%	-$47.9M-2.8%	-$46.5M-46.5%	-$31.8M-26.2%	-$25.2M+30.7%	-$36.3M-43.2%	-$25.4M+16.7%	-$30.4M
Investing Cash Flow	$27.9M-28.6%	$39.1M+265.7%	$10.7M-82.0%	$59.5M+86.5%	$31.9M-16.6%	$38.3M+266.5%	-$23.0M+86.8%	-$174.2M
Financing Cash Flow	$72K-29.4%	$102K-85.1%	$684K-96.9%	$21.8M+9848.9%	$219K-68.7%	$699K+334.2%	$161K-99.9%	$273.3M
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

PLRX Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	-11654.8%-10341.4pp	-1313.4%-25.3pp	-1288.1%-1188.5pp	-99.6%-97.4pp	-2.2%
Net Margin	N/A	-10211.1%-8937.8pp	-1273.3%+11.2pp	-1284.5%-1185.2pp	-99.3%-98.2pp	-1.1%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-53.0%-21.5pp	-31.5%+3.7pp	-35.2%+8.8pp	-44.0%-29.9pp	-14.1%-13.5pp	-0.5%
Current Ratio	10.91-6.8	17.72+3.5	14.23+1.8	12.44-12.6	25.07+11.4	13.69
Debt-to-Equity	0.10+0.1	0.02-0.0	0.03+0.0	0.00-0.0	0.04+2.6	-2.56
FCF Margin	N/A	-7422.9%-6427.6pp	-995.3%+26.9pp	-1022.1%-929.3pp	-92.8%-86.3pp	-6.5%

Metric	Q3'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23	Q1'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	-19083.9%-15923.6pp	-3160.3%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-16609.7%-13790.8pp	-2818.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-9.5%+3.0pp	-12.5%-1.0pp	-11.6%-2.6pp	-9.0%-1.0pp	-8.0%-0.4pp	-7.7%-0.5pp	-7.2%-0.9pp	-6.3%
Current Ratio	13.93+3.0	10.91-3.6	14.47-1.6	16.12-1.6	17.72-1.8	19.50+0.3	19.16-6.2	25.41
Debt-to-Equity	0.15+0.1	0.10+0.0	0.080.0	0.07+0.0	0.020.0	0.020.0	0.020.0	0.02
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-10226.6%-7941.4pp	-2285.2%

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Frequently Asked Questions

What is Pliant Therapeutics, Inc.'s annual revenue?

Pliant Therapeutics, Inc. (PLRX) reported $0 in total revenue for fiscal year 2024. This represents a -100.0% 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 Pliant Therapeutics, Inc.'s revenue growing?

Pliant Therapeutics, Inc. (PLRX) revenue declined by 100% year-over-year, from $1.6M to $0 in fiscal year 2024.

Is Pliant Therapeutics, Inc. profitable?

No, Pliant Therapeutics, Inc. (PLRX) reported a net income of -$210.3M in fiscal year 2024.

What is Pliant Therapeutics, Inc.'s earnings per share (EPS)?

Pliant Therapeutics, Inc. (PLRX) reported diluted earnings per share of $-3.47 for fiscal year 2024. This represents a -26.2% 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 Pliant Therapeutics, Inc.'s EBITDA?

Pliant Therapeutics, Inc. (PLRX) had EBITDA of -$226.2M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Pliant Therapeutics, Inc. have?

As of fiscal year 2024, Pliant Therapeutics, Inc. (PLRX) had $71.2M in cash and equivalents against $30.2M in long-term debt.

What is Pliant Therapeutics, Inc.'s free cash flow?

Pliant Therapeutics, Inc. (PLRX) generated -$159.4M in free cash flow during fiscal year 2024. This represents a -35.9% 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 Pliant Therapeutics, Inc.'s operating cash flow?

Pliant Therapeutics, Inc. (PLRX) generated -$155.5M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Pliant Therapeutics, Inc.'s total assets?

Pliant Therapeutics, Inc. (PLRX) had $396.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Pliant Therapeutics, Inc.'s capital expenditures?

Pliant Therapeutics, Inc. (PLRX) invested $3.8M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Pliant Therapeutics, Inc. spend on research and development?

Pliant Therapeutics, Inc. (PLRX) invested $169.3M in research and development during fiscal year 2024.

How many shares does Pliant Therapeutics, Inc. have outstanding?

Pliant Therapeutics, Inc. (PLRX) had 61M shares outstanding as of fiscal year 2024.

What is Pliant Therapeutics, Inc.'s current ratio?

Pliant Therapeutics, Inc. (PLRX) had a current ratio of 10.91 as of fiscal year 2024, which is generally considered healthy.

What is Pliant Therapeutics, Inc.'s debt-to-equity ratio?

Pliant Therapeutics, Inc. (PLRX) had a debt-to-equity ratio of 0.10 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pliant Therapeutics, Inc.'s return on assets (ROA)?

Pliant Therapeutics, Inc. (PLRX) had a return on assets of -53.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Pliant Therapeutics, Inc.'s cash runway?

Based on fiscal year 2024 data, Pliant Therapeutics, Inc. (PLRX) had $71.2M in cash against an annual operating cash burn of $155.5M. This gives an estimated cash runway of approximately 5 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 Pliant Therapeutics, Inc.'s Piotroski F-Score?

Pliant Therapeutics, Inc. (PLRX) has a Piotroski F-Score of 1 out of 9, indicating weak 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pliant Therapeutics, Inc.'s earnings high quality?

Pliant Therapeutics, Inc. (PLRX) has an earnings quality ratio of 0.74x, 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.

Can Pliant Therapeutics, Inc. cover its interest payments?

Pliant Therapeutics, Inc. (PLRX) has an interest coverage ratio of -75.5x, meaning it can struggle to cover its interest obligations. 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.