Summit Therapeutics Inc. (SMMT) 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 5, 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 23, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the SMMT SEC filings page.
This page shows Summit Therapeutics Inc. (SMMT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 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).
Summit is funding an increasingly expensive development program with equity, while reported losses exceed the cash consumed by operations.
In FY2025, the net loss reached$1.1B , but operating cash flow was-$322.9M ; that wide gap indicates accounting charges or timing effects depressed earnings more than they consumed cash. Free cash flow nearly matched operating cash flow, showing that capital expenditures were not the main cash drain.
Development spending is the operating model: R&D was
Total assets expanded from
Financial Health Signals
Summit Therapeutics 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.
Summit Therapeutics 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).
Summit Therapeutics Inc. reported a net loss of $1.1B while operations used $322.9M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Summit Therapeutics Inc. reported -$215.7M in net income in Q2 2026. This represents an increase of 61.9% from the same quarter a year earlier. Against the prior quarter it is down 13.9%.
Summit Therapeutics Inc. earned -$0.28 per diluted share (EPS) in Q2 2026. This represents an increase of 63.2% from the same quarter a year earlier. Against the prior quarter it is down 16.7%.
Not reported for Q2 2026.
Not reported for Q2 2026.
Cash & Balance Sheet
Summit Therapeutics Inc. recorded an outflow of $142.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 112.8% from the same quarter a year earlier. Against the prior quarter it is down 15.9%.
Summit Therapeutics Inc. held $419.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Summit Therapeutics Inc.'s ROE was -34.2% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is up 183.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.5 percentage points.
Not reported for Q2 2026.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Summit Therapeutics Inc. invested $157.7M in research and development in Q2 2026. This represents a decrease of 24.2% from the same quarter a year earlier. Against the prior quarter it is up 18.9%.
Summit Therapeutics Inc. invested $909K in capex in Q2 2026, funding long-term assets and infrastructure. Against the prior quarter it is up 271.0%.
Not reported for Q2 2026.
SMMT 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 |
|---|---|---|---|---|---|---|---|---|
| Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | $0 |
| R&D Expenses | $157.7M-24.2% | $132.6M+158.7% | N/A | $131.1M+247.5% | $208.0M+575.4% | $51.3M+66.1% | N/A | $37.7M+146.2% |
| SG&A Expenses | $62.8M-82.6% | $62.6M+301.6% | N/A | $103.1M+399.2% | $360.4M+2509.4% | $15.6M+35.3% | N/A | $20.7M+280.1% |
| Operating Income | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$58.4M-184.9% |
| EBITDA | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -$58.4M-185.2% |
| Interest Expense | N/A | N/A | N/A | $0-100.0% | $0-100.0% | $0-100.0% | N/A | $2.5M-9.8% |
| Net Income | -$215.7M+61.9% | -$189.4M-201.1% | N/A | -$231.8M-312.0% | -$565.7M-836.8% | -$62.9M-44.7% | N/A | -$56.3M-164.5% |
| EPS (Basic) | -$0.28+63.2% | -$0.24-166.7% | -$0.28-211.1% | -$0.31-287.5% | -$0.76-744.4% | -$0.09-50.0% | -$0.09-800.0% | -$0.08-166.7% |
| EPS (Diluted) | -$0.28+63.2% | -$0.24-166.7% | -$0.28-211.1% | -$0.31-287.5% | -$0.76-744.4% | -$0.09-50.0% | -$0.09-800.0% | -$0.08-166.7% |
| Diluted Shares (Avg) | 778M+4.8% | 775M+5.1% | N/A | 743M+2.3% | 743M+4.9% | 738M+5.2% | N/A | 727M+4.1% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Income Tax.
SMMT 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 | $752.2M+132.1% | $647.9M+68.8% | $751.2M+72.5% | $261.7M-48.0% | $324.0M-5.2% | $383.8M+117.1% | $435.6M+114.6% | $502.9M+130.2% |
| Current Assets | $720.6M+133.0% | $616.6M+66.3% | $720.3M+70.0% | $246.5M-49.7% | $309.2M-5.9% | $370.8M+127.1% | $423.8M+123.4% | $490.3M+139.2% |
| Cash & Equivalents | $419.4M+40.8% | $106.5M-49.6% | $225.3M+114.8% | $238.6M+154.4% | $297.9M+947.6% | $211.5M+245.1% | $104.9M+46.8% | $93.8M+294.1% |
| Short-Term Investments | $271.3M | $492.2M+228.6% | $488.2M+58.8% | $0-100.0% | $0-100.0% | $149.8M+57.0% | $307.5M+167.8% | $393.1M+124.4% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill | $2.0M-3.5% | $2.0M+2.2% | $2.0M+7.3% | $2.0M+0.4% | $2.0M+8.5% | $1.9M+2.6% | $1.9M-1.5% | $2.0M+9.8% |
| Total Liabilities | $122.2M+89.2% | $101.9M+158.1% | $92.3M+97.2% | $69.5M+7.0% | $64.6M-56.0% | $39.5M-70.2% | $46.8M-62.6% | $64.9M-45.5% |
| Current Liabilities | $103.6M+71.7% | $83.3M+138.7% | $73.0M+74.9% | $64.9M+10.0% | $60.3M-57.0% | $34.9M+48.8% | $41.7M+104.5% | $59.0M-48.1% |
| Non-Current Liabilities | $18.6M+336.1% | $18.7M+304.3% | $19.3M+280.4% | $4.5M-23.4% | $4.3M-35.4% | $4.6M-95.8% | $5.1M-95.2% | $5.9M+10.6% |
| Total Equity | $630.0M+142.8% | $545.9M+58.5% | $658.9M+69.5% | $192.3M-56.1% | $259.4M+33.0% | $344.3M+678.9% | $388.7M+400.4% | $437.9M+340.7% |
| Retained Earnings | -$2.7B-46.4% | -$2.5B-94.4% | -$2.3B-88.9% | -$2.1B-79.9% | -$1.8B-68.0% | -$1.3B-23.2% | -$1.2B-22.3% | -$1.2B-20.6% |
Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.
SMMT 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 | -$141.1M-111.4% | -$122.3M-99.9% | -$101.9M-109.4% | -$93.1M-207.2% | -$66.7M-102.2% | -$61.2M-103.0% | -$48.7M-150.1% | -$30.3M-103.4% |
| Depreciation & Amortization | $46K+24.3% | $44K+76.0% | $42K+90.9% | $42K+110.0% | $37K+85.0% | $25K-7.4% | $22K-26.7% | $20K-37.5% |
| Stock-Based Compensation | $68.7M-85.6% | $72.8M+556.0% | N/A | $130.8M+575.0% | $478.8M+4218.0% | $11.1M+16.7% | N/A | $19.4M+2647.7% |
| Capital Expenditures | $909K | $245K-41.9% | $164K+1071.4% | $71K+22.4% | $0-100.0% | $422K+10450.0% | $14K+600.0% | $58K+9.4% |
| Free Cash Flow | -$142.0M-112.8% | -$122.5M-99.0% | -$102.1M-109.7% | -$93.2M-206.9% | -$66.7M-101.9% | -$61.6M-104.4% | -$48.7M-150.2% | -$30.4M-103.0% |
| Investing Cash Flow | $222.9M+47.8% | -$238K-100.1% | -$485.2M-681.2% | -$71K+99.9% | $150.8M+175.4% | $160.1M+705.7% | $83.5M+37.8% | -$108.6M-3015.7% |
| Financing Cash Flow | $231.1M+10299.5% | $3.8M-50.5% | $573.8M+2530.2% | $33.8M-83.4% | $2.2M-98.9% | $7.7M+1482.9% | -$23.6M-477.7% | $204.1M+89045.0% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
SMMT 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 | -34.2%+183.8pp | -34.7%-16.4pp | N/A | -120.6%-107.7pp | -218.0%-187.1pp | -18.3%+80.1pp | N/A | -12.8%+8.5pp |
| Return on Assets | -28.7%+145.9pp | -29.2%-12.8pp | N/A | -88.6%-77.4pp | -174.6%-156.9pp | -16.4%+8.2pp | N/A | -11.2%-1.5pp |
| Current Ratio | 6.96+1.8x | 7.41-3.2x | 9.87-0.3x | 3.80-4.5x | 5.13+2.8x | 10.63+3.7x | 10.15+0.9x | 8.31+6.5x |
| Debt-to-Equity | 0.19-0.1x | 0.19+0.1x | 0.140.0x | 0.36+0.2x | 0.25-0.5x | 0.11-2.9x | 0.12-1.5x | 0.15-1.1x |
| Asset Turnover | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.000.0x |
Not reported in any period shown, so not listed: Gross Margin, 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 |
|---|---|---|---|---|---|---|
| Summit Therapeutics Inc. SMMT | FY2025 | N/A | -$1.1B | N/A | $13.4B | — |
| Incyte Genomics Inc INCY | FY2025 | $5.1B | $1.3B | 25.0% | $23.4B | 63/100 |
| Exelixis Inc EXEL | FY2025 | $2.3B | $782.6M | 33.7% | $14.5B | 80/100 |
| BridgeBio Pharma, Inc. BBIO | FY2025 | $502.1M | -$732.9M | N/A | $13.1B | 58/100 |
| Genmab A/S GMAB | FY2025 | $3.7B | $963.0M | 25.9% | $21.7B | 55/100 |
Where Summit Therapeutics Inc. Ranks
Frequently Asked Questions
Is Summit Therapeutics Inc. profitable?
No, Summit Therapeutics Inc. (SMMT) reported a net income of -$1.1B in fiscal year 2025.
What is Summit Therapeutics Inc.'s return on equity (ROE)?
Summit Therapeutics Inc. (SMMT) has a return on equity of -163.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Summit Therapeutics Inc.'s free cash flow?
Summit Therapeutics Inc. (SMMT) recorded an outflow of $323.6M in free cash flow during fiscal year 2025. This represents a -127.5% 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 Summit Therapeutics Inc.'s operating cash flow?
Summit Therapeutics Inc. (SMMT) recorded an outflow of $322.9M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Summit Therapeutics Inc.'s total assets?
Summit Therapeutics Inc. (SMMT) had $751.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Summit Therapeutics Inc.'s capital expenditures?
Summit Therapeutics Inc. (SMMT) invested $657K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Summit Therapeutics Inc. spend on research and development?
Summit Therapeutics Inc. (SMMT) invested $537.7M in research and development during fiscal year 2025.
What is Summit Therapeutics Inc.'s current ratio?
Summit Therapeutics Inc. (SMMT) had a current ratio of 9.87 as of fiscal year 2025, which is generally considered healthy.
What is Summit Therapeutics Inc.'s debt-to-equity ratio?
Summit Therapeutics Inc. (SMMT) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Summit Therapeutics Inc.'s return on assets (ROA)?
Summit Therapeutics Inc. (SMMT) had a return on assets of -143.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Summit Therapeutics Inc.'s P/E ratio?
Summit Therapeutics Inc. (SMMT) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $13.4B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Summit Therapeutics Inc.'s price-to-sales ratio?
Summit Therapeutics Inc. (SMMT) has no price-to-sales ratio at the moment: no revenue reported. The market capitalization is $13.4B as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Summit Therapeutics Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Summit Therapeutics Inc. (SMMT) held $713.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $322.9M over that year. Dividing the one by the other, the reported balance equals about 27 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 Summit Therapeutics Inc.'s Piotroski F-Score?
Summit Therapeutics Inc. (SMMT) 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 Summit Therapeutics Inc.'s earnings high quality?
Summit Therapeutics Inc. (SMMT) reported a net loss of $1.1B while operations used $322.9M 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.