Scholar Rock Holding Financials

SRRK

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

Financial Health Signals

Piotroski F-Score Neutral

4/9

Scholar Rock Holding passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass.

Earnings Quality Low Quality

0.82x

For every $1 of reported earnings, Scholar Rock Holding generates $0.82 in operating cash flow (-$200.9M OCF vs -$246.3M 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

-38.2x

Scholar Rock Holding earns $-38.2 in operating income for every $1 of interest expense (-$252.1M vs $6.6M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Scholar Rock Holding (SRRK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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

N/A

EBITDA

-$250.1M

YoY-48.5%

Scholar Rock Holding's EBITDA was -$250.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 48.5% from the prior year.

Free Cash Flow

-$201.0M

YoY-38.4%

Scholar Rock Holding generated -$201.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 38.4% from the prior year.

Net Income

-$246.3M

YoY-48.6%

Scholar Rock Holding reported -$246.3M in net income in fiscal year 2024. This represents a decrease of 48.6% from the prior year.

EPS (Diluted)

$-2.47

YoY-24.1%

Scholar Rock Holding earned $-2.47 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 24.1% from the prior year.

Cash & Debt

$177.9M

YoY+74.6%

5Y CAGR+37.4%

Scholar Rock Holding held $177.9M in cash against $50.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

94M

YoY+23.5%

5Y CAGR+25.8%

Scholar Rock Holding had 94M shares outstanding in fiscal year 2024. This represents an increase of 23.5% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

N/A

R&D Spending

$184.6M

YoY+51.4%

5Y CAGR+27.8%

Scholar Rock Holding invested $184.6M in research and development in fiscal year 2024. This represents an increase of 51.4% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$98K

YoY+38.0%

5Y CAGR-49.9%

Scholar Rock Holding invested $98K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 38.0% from the prior year.

SRRK Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	N/A	N/A	$33.2M+76.4%	$18.8M+22.2%	$15.4M-24.8%	$20.5M
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	$184.6M+51.4%	$121.9M-2.0%	$124.4M+14.7%	$108.5M+46.5%	$74.1M+36.6%	$54.2M
SG&A Expenses	$67.5M+36.7%	$49.4M+14.6%	$43.1M+7.1%	$40.3M+42.7%	$28.2M+35.6%	$20.8M
Operating Income	-$252.1M-47.1%	-$171.3M-27.5%	-$134.4M-3.4%	-$129.9M-49.5%	-$86.9M-59.3%	-$54.5M
Interest Expense	$6.6M+1.5%	$6.5M+38.3%	$4.7M+123.8%	$2.1M+425.0%	$400K+1381.5%	$27K
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$246.3M-48.6%	-$165.8M-23.3%	-$134.5M-2.1%	-$131.8M-52.4%	-$86.5M-69.6%	-$51.0M
EPS (Diluted)	$-2.47-24.1%	$-1.99+11.9%	$-2.26+37.0%	$-3.59-27.8%	$-2.81	N/A

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q1'22	Q4'21
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$33.2M+719.8%	$4.0M
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	$50.5M+3.6%	$48.7M	N/A	$30.3M	N/A	$33.4M+13.7%	$29.4M+1.1%	$29.1M
SG&A Expenses	$53.1M+230.4%	$16.1M	N/A	$13.3M	N/A	$10.5M-2.7%	$10.8M+3.8%	$10.4M
Operating Income	-$103.5M-59.8%	-$64.8M	N/A	-$43.7M	N/A	-$43.9M-532.7%	-$6.9M+80.4%	-$35.4M
Interest Expense	$1.3M-23.5%	$1.7M	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$102.2M-58.5%	-$64.5M	N/A	-$42.4M	N/A	-$43.3M-444.6%	-$8.0M+77.9%	-$35.9M
EPS (Diluted)	$-0.90-36.4%	$-0.66	N/A	$-0.53	N/A	$-0.55-161.9%	$-0.21+78.4%	$-0.97

SRRK Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$474.9M+52.7%	$311.0M-13.2%	$358.2M+17.6%	$304.4M-21.6%	$388.3M+97.7%	$196.4M
Current Assets	$451.2M+56.5%	$288.2M-12.1%	$328.0M+23.6%	$265.3M-23.0%	$344.4M+86.0%	$185.2M
Cash & Equivalents	$177.9M+74.6%	$101.9M-1.4%	$103.3M-51.5%	$212.8M+32.7%	$160.4M+341.7%	$36.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	$25.0M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$106.3M+23.9%	$85.8M-12.4%	$97.9M-26.0%	$132.4M+3.8%	$127.5M+52.8%	$83.5M
Current Liabilities	$46.9M+43.4%	$32.7M-10.0%	$36.4M-43.4%	$64.3M+51.1%	$42.6M+29.7%	$32.8M
Long-Term Debt	$50.1M+3.0%	$48.7M-2.1%	$49.7M+2.7%	$48.4M+96.2%	$24.7M	N/A
Total Equity	$368.6M+63.7%	$225.2M-13.5%	$260.2M+51.2%	$172.1M-34.0%	$260.8M+131.0%	$112.9M
Retained Earnings	-$922.7M-36.4%	-$676.4M-32.5%	-$510.6M-35.8%	-$376.1M-53.9%	-$244.3M-54.8%	-$157.8M

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q1'22	Q4'21
Total Assets	$411.7M-13.3%	$474.9M+52.7%	$311.0M+24.1%	$250.7M-30.0%	$358.2M-8.2%	$390.3M+46.7%	$266.0M-12.6%	$304.4M
Current Assets	$390.7M-13.4%	$451.2M+56.5%	$288.2M+26.1%	$228.5M-30.4%	$328.0M-8.3%	$357.6M+56.4%	$228.6M-13.8%	$265.3M
Cash & Equivalents	$286.8M+61.2%	$177.9M+74.6%	$101.9M+50.7%	$67.6M-34.5%	$103.3M-22.4%	$133.1M+32.8%	$100.2M-52.9%	$212.8M
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	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$166.7M+56.9%	$106.3M+23.9%	$85.8M+3.4%	$83.0M-15.2%	$97.9M+0.9%	$97.0M+2.5%	$94.7M-28.5%	$132.4M
Current Liabilities	$62.0M+32.0%	$46.9M+43.4%	$32.7M+22.5%	$26.7M-26.5%	$36.4M+7.9%	$33.7M+1.1%	$33.4M-48.1%	$64.3M
Long-Term Debt	$99.6M+98.6%	$50.1M+3.0%	$48.7M-2.6%	$50.0M+0.4%	$49.7M0.0%	$49.8M+14.1%	$43.6M-9.9%	$48.4M
Total Equity	$245.0M-33.5%	$368.6M+63.7%	$225.2M+34.3%	$167.7M-35.6%	$260.2M-11.3%	$293.3M+71.2%	$171.3M-0.4%	$172.1M
Retained Earnings	-$1.2B-31.1%	-$922.7M-36.4%	-$676.4M-7.3%	-$630.3M-23.4%	-$510.6M-8.3%	-$471.4M-22.7%	-$384.1M-2.1%	-$376.1M

SRRK Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$200.9M-38.4%	-$145.2M-9.4%	-$132.7M-4.7%	-$126.8M-110.4%	-$60.3M+4.5%	-$63.1M
Capital Expenditures	$98K+38.0%	$71K-93.3%	$1.1M-79.7%	$5.2M+28.4%	$4.1M+31.2%	$3.1M
Free Cash Flow	-$201.0M-38.4%	-$145.3M-8.6%	-$133.8M-1.3%	-$132.0M-105.2%	-$64.4M+2.8%	-$66.2M
Investing Cash Flow	-$76.1M-284.9%	$41.1M+124.0%	-$171.7M-227.8%	$134.3M+311.5%	-$63.5M-2.0%	-$62.2M
Financing Cash Flow	$353.0M+244.2%	$102.6M-47.4%	$194.8M+333.4%	$45.0M-81.9%	$247.8M+407.0%	$48.9M
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	Q4'23	Q3'23	Q4'22	Q3'22	Q1'22	Q4'21
Operating Cash Flow	-$68.9M-39.2%	-$49.5M-32.6%	-$37.3M-15.7%	-$32.3M-11.6%	-$28.9M-9.2%	-$26.5M+37.8%	-$42.6M-31.2%	-$32.5M
Capital Expenditures	$84K+281.8%	$22K	$0	$0-100.0%	$117K+333.3%	$27K-93.9%	$443K-18.3%	$542K
Free Cash Flow	-$69.0M-39.3%	-$49.5M-32.6%	-$37.3M-15.7%	-$32.3M-11.2%	-$29.0M-9.5%	-$26.5M+38.4%	-$43.0M-30.3%	-$33.0M
Investing Cash Flow	$59.7M+130.6%	-$195.4M-677.5%	-$25.1M-196.6%	-$8.5M-11103.9%	$77K+100.1%	-$145.7M-106.5%	-$70.6M-339.6%	$29.5M
Financing Cash Flow	$144.5M-58.3%	$346.4M+258.8%	$96.5M+34374.6%	$280K+128.9%	-$970K-115.1%	-$451K-193.8%	$481K-98.8%	$39.7M
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

SRRK 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	N/A	-404.8%+285.7pp	-690.5%-126.4pp	-564.0%-297.9pp	-266.2%
Net Margin	N/A	N/A	-405.2%+295.2pp	-700.5%-139.0pp	-561.5%-312.6pp	-248.9%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-51.9%+1.4pp	-53.3%-15.8pp	-37.5%+5.7pp	-43.3%-21.0pp	-22.3%+3.7pp	-26.0%
Current Ratio	9.61+0.8	8.80-0.2	9.01+4.9	4.13-4.0	8.09+2.4	5.64
Debt-to-Equity	0.14-0.1	0.22+0.0	0.19-0.1	0.28+0.2	0.09-0.6	0.74
FCF Margin	N/A	N/A	-403.0%+298.8pp	-701.7%-283.9pp	-417.8%-94.6pp	-323.2%

Metric	Q3'25	Q3'24	Q4'23	Q3'23	Q4'22	Q3'22	Q1'22	Q4'21
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	-20.9%+852.5pp	-873.4%
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	-23.9%+863.0pp	-887.0%
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-24.8%+11.2pp	-36.0%	N/A	-16.9%	N/A	-11.1%-8.1pp	-3.0%+8.8pp	-11.8%
Current Ratio	6.30-3.3	9.61+0.8	8.80+0.3	8.55-0.5	9.01-1.6	10.60+3.8	6.85+2.7	4.13
Debt-to-Equity	0.41+0.3	0.14-0.1	0.22-0.1	0.30+0.1	0.19+0.0	0.17-0.1	0.25-0.0	0.28
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	-129.6%+685.4pp	-814.9%

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Frequently Asked Questions

Is Scholar Rock Holding profitable?

No, Scholar Rock Holding (SRRK) reported a net income of -$246.3M in fiscal year 2024.

What is Scholar Rock Holding's earnings per share (EPS)?

Scholar Rock Holding (SRRK) reported diluted earnings per share of $-2.47 for fiscal year 2024. This represents a -24.1% 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.

What is Scholar Rock Holding's EBITDA?

Scholar Rock Holding (SRRK) had EBITDA of -$250.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Scholar Rock Holding have?

As of fiscal year 2024, Scholar Rock Holding (SRRK) had $177.9M in cash and equivalents against $50.1M in long-term debt.

What is Scholar Rock Holding's free cash flow?

Scholar Rock Holding (SRRK) generated -$201.0M in free cash flow during fiscal year 2024. This represents a -38.4% 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 Scholar Rock Holding's operating cash flow?

Scholar Rock Holding (SRRK) generated -$200.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Scholar Rock Holding's total assets?

Scholar Rock Holding (SRRK) had $474.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Scholar Rock Holding's capital expenditures?

Scholar Rock Holding (SRRK) invested $98K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does Scholar Rock Holding spend on research and development?

Scholar Rock Holding (SRRK) invested $184.6M in research and development during fiscal year 2024.

How many shares does Scholar Rock Holding have outstanding?

Scholar Rock Holding (SRRK) had 94M shares outstanding as of fiscal year 2024.

What is Scholar Rock Holding's current ratio?

Scholar Rock Holding (SRRK) had a current ratio of 9.61 as of fiscal year 2024, which is generally considered healthy.

What is Scholar Rock Holding's debt-to-equity ratio?

Scholar Rock Holding (SRRK) had a debt-to-equity ratio of 0.14 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Scholar Rock Holding's return on assets (ROA)?

Scholar Rock Holding (SRRK) had a return on assets of -51.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Scholar Rock Holding's cash runway?

Based on fiscal year 2024 data, Scholar Rock Holding (SRRK) had $177.9M in cash against an annual operating cash burn of $200.9M. This gives an estimated cash runway of approximately 11 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 Scholar Rock Holding's Piotroski F-Score?

Scholar Rock Holding (SRRK) has a Piotroski F-Score of 4 out of 9, indicating neutral 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 Scholar Rock Holding's earnings high quality?

Scholar Rock Holding (SRRK) has an earnings quality ratio of 0.82x, 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 Scholar Rock Holding cover its interest payments?

Scholar Rock Holding (SRRK) has an interest coverage ratio of -38.2x, 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.