WINDTREE THERAPEUTICS NEW (WINT) Financials

WINT

FY2024 annual

Revenue Not reported for FY2024

Net Income -$1.8M +91.2% YoY

Free Cash Flow -$15.4M -14.6% YoY

Operating Cash Flow -$15.4M -14.6% YoY

Source SEC Filings (10-K/10-Q) Latest period Q3 FY2025, ended Sep 30, 2025 Reported Nov 19, 2025 Currency USD FYE December

Newest figures come from the 10-Q for Q3 FY2025, filed Nov 19, 2025. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the WINT SEC filings page.

This page shows WINDTREE THERAPEUTICS NEW (WINT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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 WINT FY2024 2026-10-04

Windtree’s development-stage model is funding heavier research spending while recurring cash outflows leave short-term liquidity tight.

FY2024’s net loss narrowed to $1.8M from $20.3M, but that accounting improvement did not translate into cash generation. Operating cash flow worsened to -$15.4M from -$13.4M, revealing a widening gap between reported earnings and the cash required to operate.

The cost structure shifted toward research investment: R&D reached $16.3M against SG&A of $8.7M. With no reported revenue in these periods, the company is spending ahead of commercial receipts rather than scaling an established sales base.

The balance sheet became more constrained for near-term obligations: current liabilities were $5.7M versus current assets of $2.6M. The current ratio fell from 1.3x in FY2023 to 0.5x in FY2024, while the supplied liquidity measure equates reported cash and investments to 1.4 months of the latest annual operating outflow.

Financial Health Signals

Financial health score not available

WINDTREE THERAPEUTICS NEW 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

2/6

WINDTREE THERAPEUTICS NEW passes 2 of 6 computable financial strength tests (3 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality No Cash Backing

N/A

WINDTREE THERAPEUTICS NEW reported a net loss of $1.8M while operations used $15.4M of cash. With neither figure positive, the ratio between the two carries no quality signal.

Interest Coverage At Risk

N/A

WINDTREE THERAPEUTICS NEW reported an operating loss of $26.1M against $235K 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

Export CSV

Earnings & Revenue

EBITDA

-$19.5M

YoY-313.6%

QoQ-392.1%

WINDTREE THERAPEUTICS NEW's EBITDA was -$19.5M in Q3 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 313.6% from the same quarter a year earlier. Against the prior quarter it is down 392.1%.

Net Income

-$28.1M

YoY-921.6%

QoQ-164.2%

WINDTREE THERAPEUTICS NEW reported -$28.1M in net income in Q3 2025. This represents a decrease of 921.6% from the same quarter a year earlier. Against the prior quarter it is down 164.2%.

Revenue

Not reported for Q3 2025.

EPS (Diluted)

Not reported for Q3 2025.

Cash & Balance Sheet

Free Cash Flow

-$6.4M

YoY+1.1%

WINDTREE THERAPEUTICS NEW recorded an outflow of $6.4M in free cash flow in Q3 2025, representing a cash shortfall after capex. This represents an increase of 1.1% from the same quarter a year earlier.

Cash & Debt

$204K

YoY-91.1%

QoQ-32.2%

5Y CAGR-60.9%

10Y CAGR-41.9%

WINDTREE THERAPEUTICS NEW held $204K in cash as of Q3 2025; long-term debt is not reported for that period.

Shares Outstanding

34M

QoQ+14.9%

5Y CAGR+14.8%

10Y CAGR-11.3%

WINDTREE THERAPEUTICS NEW had 34M shares outstanding in Q3 2025. Against the prior quarter it is up 14.9%.

Dividends Per Share

Not reported for Q3 2025.

Margins & Returns

None of these metrics is reported for Q3 2025.

Capital Allocation

R&D Spending

$1.9M

YoY-3.6%

QoQ-13.1%

WINDTREE THERAPEUTICS NEW invested $1.9M in research and development in Q3 2025. This represents a decrease of 3.6% from the same quarter a year earlier. Against the prior quarter it is down 13.1%.

Capital Expenditures

WINDTREE THERAPEUTICS NEW reported no capital expenditure in Q3 2025.

Share Buybacks

Not reported for Q3 2025.

WINT 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.

WINT quarterly income statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$198K-88.9%	$1.8M+20.4%	$1.5M-27.3%	$2.0M+106.9%	$987K-65.2%	$2.8M+630.7%	$388K+99.0%	$195K	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$929K-65.2%	$2.7M+416.6%	$517K	$0	$0	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$58K-64.6%	$164K+227.1%	-$129K-166.2%	$195K	N/A	N/A
R&D Expenses	N/A	$16.3M+95.1%	$8.3M-24.8%	$11.1M-37.6%	$17.8M+15.7%	$15.4M+21.2%	$12.7M+20.1%	$10.6M	N/A	$31.7M+9.8%	$28.9M+8.2%	$26.7M-3.5%	$27.7M+28.2%	$21.6M+25.2%	$17.2M+0.5%	$17.1M
SG&A Expenses	N/A	$8.7M-4.9%	$9.2M-14.8%	$10.8M-25.4%	$14.5M-3.2%	$14.9M+20.5%	$12.4M+67.1%	$7.4M+11.5%	$6.7M-20.5%	$8.4M-23.9%	$11.0M-34.2%	$16.7M+0.1%	$16.7M+1.7%	$16.4M+109.1%	$7.9M-6.3%	$8.4M
Operating Income	N/A	-$26.1M-26.9%	-$20.6M+50.2%	-$41.3M+46.5%	-$77.3M-154.9%	-$30.3M-21.8%	-$24.9M-53.7%	-$16.2M	N/A	-$38.0M+4.5%	-$39.8M+7.9%	-$43.3M+2.8%	-$44.5M-17.7%	-$37.8M-54.3%	-$24.5M+4.0%	-$25.5M
EBITDA	N/A	-$26.1M-27.0%	-$20.5M+49.7%	-$40.8M+47.1%	-$77.1M-155.7%	-$30.1M-22.1%	-$24.7M-54.0%	-$16.0M	N/A	-$37.8M+3.4%	-$39.1M+7.8%	-$42.4M+3.1%	-$43.8M-19.4%	-$36.7M-57.5%	-$23.3M+2.9%	-$24.0M
Interest Expense	N/A	$235K+370.0%	$50K-5.7%	$53K-53.5%	$114K-8.8%	$125K-74.7%	$495K-64.9%	$1.4M-24.4%	$1.9M-26.0%	$2.5M-45.1%	$4.6M-0.2%	$4.6M+50922.2%	$9K-30.8%	$13K-35.0%	$20K-94.4%	$357K
Income Tax	N/A	-$6K	$0+100.0%	-$1.4M+86.3%	-$10.0M	$0	N/A	N/A	N/A	N/A	$0	$0	$0	$0	N/A	N/A
Net Income	N/A	-$1.8M+91.2%	-$20.3M+48.2%	-$39.2M+42.0%	-$67.6M-107.7%	-$32.6M-18.5%	-$27.5M-33.8%	-$20.5M	N/A	-$39.5M+28.4%	-$55.2M-25.2%	-$44.1M+2.6%	-$45.2M-21.2%	-$37.3M-78.0%	-$21.0M-9.3%	-$19.2M
EPS (Basic)	N/A	-$0.10+100.0%	-$4718.84-7482.9%	-$62.23+54.5%	-$136.64	N/A	N/A	-$7.74+67.9%	-$24.14-409.3%	-$4.74+40.6%	-$7.98-9.6%	-$7.28-787.8%	-$0.82+13.7%	-$0.95	N/A	N/A
EPS (Diluted)	—	N/A	N/A	N/A	N/A	N/A	N/A	-$7.74	-$24.14	-$4.74+40.6%	-$7.98	-$7.84	-$0.82	-$0.95	N/A	N/A
Diluted Shares (Avg)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	4M	1M	8M+19.5%	7M	6M	55M	39M+73.9%	23M	12M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
R&D Expenses	$1.9M-3.6%	$2.2M-77.9%	$2.3M+0.8%	N/A	$2.0M-6.7%	$9.9M+459.4%	$2.3M+59.2%	N/A
SG&A Expenses	$1.9M-33.1%	$1.8M+13.4%	$1.8M-15.4%	N/A	$2.8M+7.5%	$1.6M-34.3%	$2.2M-6.1%	N/A
Operating Income	-$19.9M-319.4%	-$4.0M+65.2%	-$4.1M+7.2%	N/A	-$4.7M-1.1%	-$11.5M-69.5%	-$4.4M-5.1%	N/A
EBITDA	-$19.5M-313.6%	-$4.0M+65.3%	-$4.1M+7.1%	N/A	-$4.7M-0.9%	-$11.4M-69.7%	-$4.4M-5.2%	N/A
Interest Expense	$328K+543.1%	$79K-28.2%	$20K+53.8%	N/A	$51K+292.3%	$110K+746.2%	$13K+8.3%	N/A
Income Tax	-$3.4M-1329.6%	$0-100.0%	$0-100.0%	N/A	-$240K	$197K	$114K	N/A
Net Income	-$28.1M-921.6%	-$10.6M+11.6%	-$4.0M-139.6%	N/A	-$2.7M+37.9%	-$12.0M-82.2%	$10.2M+348.6%	N/A
EPS (Basic)	-$1.08+99.5%	-$3.06+99.7%	-$4.63-521.1%	-$95.71+97.9%	-$211.38-1266.4%	-$1045.84-3448.8%	$1.10+101.3%	-$4637.89-7474.5%

Not reported in any period shown, so not listed: Revenue, Cost of Revenue, Gross Profit, EPS (Diluted), Diluted Shares (Avg).

WINT Balance Sheet

WINT quarterly balance sheet

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Total Assets	$27.9M-14.0%	$32.4M-14.6%	$38.0M-49.3%	$74.8M-33.7%	$112.9M-5.1%	$119.0M-0.4%	$119.4M+3467.3%	$3.3M-65.5%	$9.7M-78.1%	$44.4M-6.6%	$47.5M-46.8%	$89.3M+198.3%	$29.9M+124.7%	$13.3M-8.3%	$14.5M
Current Assets	$2.6M-52.1%	$5.4M-27.1%	$7.4M-68.6%	$23.5M+29.7%	$18.1M-24.1%	$23.9M-7.0%	$25.7M+1046.8%	$2.2M-68.9%	$7.2M-82.4%	$40.8M-10.5%	$45.6M-47.8%	$87.2M+213.7%	$27.8M+161.6%	$10.6M+1.3%	$10.5M
Cash & Equivalents	$1.8M-58.8%	$4.3M-30.0%	$6.2M-72.4%	$22.3M+32.0%	$16.9M-25.0%	$22.6M+101.8%	$11.2M+516.4%	$1.8M-67.5%	$5.6M-85.6%	$38.7M-13.4%	$44.7M-48.2%	$86.3M+220.9%	$26.9M+163.9%	$10.2M-0.2%	$10.2M
Short-Term Investments	$0	$0	$0	$0	$0	$0-100.0%	$14.0M	$0	$0	$0	$0	$0	$0	$0	$0
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$27K-75.9%	$112K-42.6%	$195K	$0	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$0-100.0%	$67K	$0	N/A	N/A
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	$0-100.0%	$3.1M-80.5%	$15.7M0.0%	$15.7M0.0%	$15.7M0.0%	$15.7M	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$14.7M-49.3%	$29.0M+3.8%	$27.9M-15.1%	$32.9M-24.1%	$43.3M-1.6%	$44.0M-14.1%	$51.3M+88.1%	$27.3M-29.2%	$38.5M+6.7%	$36.1M+27.6%	$28.3M-8.2%	$30.8M+150.7%	$12.3M+1.9%	$12.1M+41.7%	$8.5M
Current Liabilities	$5.7M+43.1%	$4.0M+62.6%	$2.5M-50.1%	$4.9M-19.7%	$6.1M-21.6%	$7.8M-62.1%	$20.6M+75.5%	$11.8M-12.2%	$13.4M+21.0%	$11.1M+41.4%	$7.8M-34.0%	$11.9M+1.3%	$11.7M+5.0%	$11.1M+47.1%	$7.6M
Non-Current Liabilities	$9.0M-64.1%	$25.0M-1.8%	$25.5M-8.9%	$28.0M-24.8%	$37.2M+2.7%	$36.2M+18.2%	$30.7M+97.7%	$15.5M-38.3%	$25.1M+0.4%	$25.0M+22.3%	$20.5M+8.0%	$19.0M+3108.3%	$591K-35.3%	$913K-2.4%	$935K
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	$25.0M0.0%	$25.0M+23.1%	$20.3M+10.6%	$18.4M	$0-100.0%	$224K-25.6%	$301K
Total Equity	$10.0M+194.8%	$3.4M-66.1%	$10.0M-76.1%	$41.9M-39.8%	$69.6M-7.2%	$74.9M+10.0%	$68.1M+384.8%	-$23.9M+17.0%	-$28.8M-448.8%	$8.3M-56.9%	$19.2M-67.2%	$58.5M+231.4%	$17.7M+1296.6%	$1.3M-79.0%	$6.0M
Retained Earnings	-$846.6M-0.2%	-$844.8M-2.5%	-$824.5M-5.0%	-$785.3M-9.4%	-$717.7M-4.8%	-$685.1M-4.2%	-$657.6M-3.2%	-$637.1M-3.0%	-$618.7M-6.8%	-$579.2M-10.5%	-$524.0M-9.2%	-$479.9M-10.4%	-$434.7M-9.4%	-$397.4M-5.6%	-$376.5M

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Total Assets	$16.0M-47.5%	$31.8M+10.9%	$26.8M-11.1%	$27.9M-14.0%	$30.4M-15.6%	$28.7M-29.2%	$30.1M-14.4%	$32.4M-14.6%
Current Assets	$7.2M+83.4%	$6.8M+229.5%	$1.6M-52.3%	$2.6M-52.1%	$3.9M-55.9%	$2.1M-84.5%	$3.3M-36.1%	$5.4M-27.1%
Cash & Equivalents	$204K-91.1%	$301K-83.3%	$1.2M-53.9%	$1.8M-58.8%	$2.3M-68.8%	$1.8M-84.3%	$2.5M-39.9%	$4.3M-30.0%
Short-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Long-Term Investments	$0	$0	$0	$0	$0	$0	$0	$0
Goodwill	N/A	N/A	N/A	N/A	$0	$0	$0-100.0%	$0-100.0%
Total Liabilities	$27.6M+15.4%	$25.0M-0.9%	$15.4M+5.1%	$14.7M-49.3%	$23.9M-16.4%	$25.2M-13.0%	$14.7M-47.9%	$29.0M+3.8%
Current Liabilities	$21.9M+51.8%	$15.7M+79.2%	$6.5M+29.9%	$5.7M+43.1%	$14.4M+288.9%	$8.8M+131.3%	$5.0M+80.4%	$4.0M+62.6%
Non-Current Liabilities	$5.7M-40.0%	$9.3M-43.7%	$9.0M-7.6%	$9.0M-64.1%	$9.5M-61.9%	$16.4M-34.7%	$9.7M-61.8%	$25.0M-1.8%
Total Equity	-$11.6M-363.3%	$3.6M+3.2%	$10.3M-33.3%	$10.0M+194.8%	$4.4M-41.1%	$3.5M-69.9%	$15.4M+119.4%	$3.4M-66.1%
Retained Earnings	-$889.4M-4.8%	-$861.3M-1.7%	-$850.7M-1.9%	-$846.6M-0.2%	-$848.8M-1.1%	-$846.6M-1.4%	-$834.6M-0.7%	-$844.8M-2.5%

Not reported in any period shown, so not listed: Inventory, Accounts Receivable, Long-Term Debt.

WINT Cash Flow Statement

WINT quarterly cash flow statement

Metric	TTM	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Operating Cash Flow	-$15.1M	-$15.4M-14.6%	-$13.4M+30.9%	-$19.5M+17.8%	-$23.7M+6.5%	-$25.3M-2.6%	-$24.7M-56.3%	-$15.8M	N/A	-$33.6M-0.3%	-$33.5M+18.6%	-$41.2M-1.8%	-$40.5M-23.0%	-$32.9M-44.9%	-$22.7M+6.5%	-$24.3M
Depreciation & Amortization	N/A	$84K+2.4%	$82K-84.6%	$533K+177.6%	$192K+14.3%	$168K-13.8%	$195K+21.9%	$160K-16.7%	$192K-24.7%	$255K-64.2%	$712K-13.0%	$818K+15.7%	$707K-38.5%	$1.1M-6.8%	$1.2M-20.3%	$1.5M
Stock-Based Compensation	N/A	$455K-64.4%	$1.3M-58.6%	$3.1M-57.4%	$7.2M+27.3%	$5.7M-15.4%	$6.7M+603.8%	$955K-38.8%	$1.6M+9.7%	$1.4M-16.1%	$1.7M-42.3%	$2.9M+33.1%	$2.2M-8.3%	$2.4M+178.1%	$867K-38.5%	$1.4M
Capital Expenditures	N/A	$12K-20.0%	$15K+15.4%	$13K-95.3%	$279K-4.1%	$291K+52.4%	$191K	N/A	$24K-91.5%	$281K-38.6%	$458K-41.3%	$780K+28.3%	$608K-4.4%	$636K+500.0%	$106K+5.0%	$101K
Free Cash Flow	N/A	-$15.4M-14.6%	-$13.5M+30.9%	-$19.5M+18.7%	-$23.9M+6.5%	-$25.6M-3.0%	-$24.9M	N/A	N/A	-$33.9M+0.3%	-$34.0M+19.0%	-$41.9M-2.2%	-$41.1M-22.5%	-$33.5M-47.0%	-$22.8M+6.4%	-$24.4M
Investing Cash Flow	N/A	-$12K+20.0%	-$15K-107.6%	$197K+170.6%	-$279K+4.1%	-$291K-102.1%	$13.8M+200.5%	-$13.7M-57095.8%	-$24K+90.6%	-$254K	N/A	N/A	-$608K+4.4%	-$636K-500.0%	-$106K-5.0%	-$101K
Financing Cash Flow	$19.0M	$12.7M+9.8%	$11.6M+276.6%	$3.1M-89.5%	$29.4M+47.1%	$20.0M-8.3%	$21.8M-43.8%	$38.7M	N/A	$709K	N/A	N/A	$100.5M+100.0%	$50.2M+120.5%	$22.8M+20.9%	$18.8M
Dividends Paid	$400K	$657K	$0	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Operating Cash Flow	-$6.4M+1.1%	-$2.7M-14.2%	-$2.4M+18.3%	-$3.7M-3.3%	-$6.4M-67.2%	-$2.3M+33.5%	-$2.9M-17.0%	-$3.6M-5.5%
Depreciation & Amortization	$360K+1614.3%	$17K-29.2%	$17K-19.0%	$18K-18.2%	$21K+50.0%	$24K+4.3%	$21K-8.7%	$22K-8.3%
Stock-Based Compensation	$17K-80.2%	$31K-68.0%	$72K-71.3%	N/A	$86K-71.8%	$97K-74.6%	$251K-11.9%	N/A
Capital Expenditures	$0	N/A	N/A	$0	$0-100.0%	N/A	N/A	$0
Free Cash Flow	-$6.4M+1.1%	N/A	N/A	-$3.7M-3.3%	-$6.4M-66.6%	N/A	N/A	-$3.6M-5.5%
Investing Cash Flow	-$789K	N/A	N/A	$0	$0+100.0%	N/A	N/A	$0
Financing Cash Flow	$7.1M+1.8%	$7.0M+337.2%	$1.8M+74.2%	$3.2M+507.3%	$6.9M+3079.0%	$1.6M-85.1%	$1.0M+75.0%	$521K-53.3%
Dividends Paid	$0-100.0%	$0	$90K	$310K	$347K	$0	$0	$0

Not reported in any period shown, so not listed: Share Buybacks.

WINT 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.

WINT quarterly financial ratios

Metric	FY2410-K	FY2310-K	FY2210-K	FY2110-K	FY2010-K	FY1910-K	FY1810-K	FY1710-K	FY1610-K	FY1510-K	FY1410-K	FY1310-K	FY1210-K	FY1110-K	FY1010-K
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	5.9%+0.1pp	5.8%+39.0pp	-33.3%-133.3pp	100.0%	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	-12572.2%	-905.8%	N/A	-1862.7%	-4035.9%	-1525.9%	-11471.1%	-19394.4%	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	-13876.3%	-1148.4%	N/A	-1933.9%	-5589.7%	-1554.1%	-11653.4%	-19135.9%	N/A	N/A
Return on Equity	-17.9%+580.5pp	-598.4%-206.8pp	-391.6%-230.1pp	-161.5%-114.7pp	-46.8%-10.1pp	-36.7%-6.5pp	-30.1%	N/A	N/A	-667.4%-438.0pp	-229.5%-152.2pp	-77.3%+134.1pp	-211.4%+1447.2pp	-1658.6%-1340.4pp	-318.2%
Return on Assets	-6.4%+56.2pp	-62.6%+40.7pp	-103.3%-12.9pp	-90.4%-61.6pp	-28.8%-5.8pp	-23.1%-5.9pp	-17.2%	N/A	-407.2%-282.8pp	-124.3%-31.6pp	-92.8%-42.1pp	-50.6%+74.0pp	-124.6%+32.7pp	-157.3%-25.4pp	-131.9%
Current Ratio	0.45-0.9x	1.35-1.7x	3.00-1.8x	4.77+1.8x	2.96-0.1x	3.05+1.8x	1.24+1.1x	0.19-0.3x	0.54-3.1x	3.69-2.1x	5.82-1.5x	7.36+5.0x	2.38+1.4x	0.95-0.4x	1.39
Debt-to-Equity	1.47-7.1x	8.56+5.8x	2.79+2.0x	0.79+0.2x	0.620.0x	0.59-0.2x	0.75	N/A	N/A	3.02+2.0x	1.06+0.7x	0.31+0.3x	0.00-0.2x	0.18+0.1x	0.05
Asset Turnover	N/A	N/A	N/A	N/A	N/A	0.000.0x	0.01-0.4x	0.44+0.2x	0.21+0.2x	0.020.0x	0.06+0.1x	0.000.0x	0.01	N/A	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	-12552.5%	N/A	N/A	-1658.7%	-3440.9%	-1479.7%	-10583.0%	-17189.7%	N/A	N/A

Metric	Q3'2510-Q	Q2'2510-Q	Q1'2510-Q	Q4'2410-Q	Q3'2410-Q	Q2'2410-Q	Q1'2410-Q	Q4'2310-K
Return on Equity	N/A	-294.8%+49.3pp	-39.3%-105.6pp	N/A	-62.4%-3.2pp	-344.1%-287.2pp	66.3%+124.8pp	N/A
Return on Assets	-175.7%-166.7pp	-33.4%+8.5pp	-15.1%-49.1pp	N/A	-9.0%+3.2pp	-41.9%-25.6pp	34.0%+45.6pp	N/A
Current Ratio	0.33+0.1x	0.43+0.2x	0.25-0.4x	0.45-0.9x	0.27-2.1x	0.23-3.3x	0.67-1.2x	1.35-1.7x
Debt-to-Equity	N/A	6.93-0.3x	1.50+0.5x	1.47-7.1x	5.42+1.6x	7.22+4.7x	0.95-3.1x	8.56+5.8x

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

Note: The current ratio is below 1.0 (0.45), indicating current liabilities exceed current assets, which may suggest potential short-term liquidity concerns.

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
WINDTREE THERAPEUTICS NEW WINT	FY2024	N/A	-$1.8M	N/A	N/A	—
CDT Equity Inc. CDT	FY2025	N/A	N/A	N/A	$617K	—
Purple Biotech Ltd. PPBT	FY2025	N/A	-$26.5M	N/A	$2.3M	—
Psyence Biomedical Ltd. PBM	FY2026	N/A	-$6.9M	N/A	$19.5M	—
LIPELLA PHARMS INC LIPO	FY2024	$536K	-$5.0M	N/A	$11.8M	—
Scinai Immunotherapeutics Ltd. SCNI	FY2025	$1.3M	-$8.3M	N/A	$820K	46/100

Where WINDTREE THERAPEUTICS NEW Ranks

Frequently Asked Questions

Is WINDTREE THERAPEUTICS NEW profitable?

No, WINDTREE THERAPEUTICS NEW (WINT) reported a net income of -$1.8M in fiscal year 2024.

What is WINDTREE THERAPEUTICS NEW's EBITDA?

WINDTREE THERAPEUTICS NEW (WINT) had EBITDA of -$26.1M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

What is WINDTREE THERAPEUTICS NEW's return on equity (ROE)?

WINDTREE THERAPEUTICS NEW (WINT) has a return on equity of -17.9% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is WINDTREE THERAPEUTICS NEW's free cash flow?

WINDTREE THERAPEUTICS NEW (WINT) recorded an outflow of $15.4M in free cash flow during fiscal year 2024. This represents a -14.6% 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 WINDTREE THERAPEUTICS NEW's operating cash flow?

WINDTREE THERAPEUTICS NEW (WINT) recorded an outflow of $15.4M in operating cash flow during fiscal year 2024, representing cash used by core business activities.

What are WINDTREE THERAPEUTICS NEW's total assets?

WINDTREE THERAPEUTICS NEW (WINT) had $27.9M in total assets as of fiscal year 2024, including both current and long-term assets.

What are WINDTREE THERAPEUTICS NEW's capital expenditures?

WINDTREE THERAPEUTICS NEW (WINT) invested $12K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How much does WINDTREE THERAPEUTICS NEW spend on research and development?

WINDTREE THERAPEUTICS NEW (WINT) invested $16.3M in research and development during fiscal year 2024.

How many shares does WINDTREE THERAPEUTICS NEW have outstanding?

WINDTREE THERAPEUTICS NEW (WINT) had 4M shares outstanding as of fiscal year 2024.

What is WINDTREE THERAPEUTICS NEW's current ratio?

WINDTREE THERAPEUTICS NEW (WINT) had a current ratio of 0.45 as of fiscal year 2024, which is below 1.0, which may suggest potential liquidity concerns.

What is WINDTREE THERAPEUTICS NEW's debt-to-equity ratio?

WINDTREE THERAPEUTICS NEW (WINT) had a debt-to-equity ratio of 1.47 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is WINDTREE THERAPEUTICS NEW's return on assets (ROA)?

WINDTREE THERAPEUTICS NEW (WINT) had a return on assets of -6.4% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

How does WINDTREE THERAPEUTICS NEW's liquidity compare with its operating cash outflow?

At the end of fiscal year 2024, WINDTREE THERAPEUTICS NEW (WINT) held $1.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $15.4M over that year. Dividing the one by the other, the reported balance equals about 1 month 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 WINDTREE THERAPEUTICS NEW's Piotroski F-Score?

WINDTREE THERAPEUTICS NEW (WINT) has a Piotroski F-Score of 2 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 WINDTREE THERAPEUTICS NEW's earnings high quality?

WINDTREE THERAPEUTICS NEW (WINT) reported a net loss of $1.8M while operations used $15.4M 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 WINDTREE THERAPEUTICS NEW cover its interest payments?

WINDTREE THERAPEUTICS NEW (WINT) reported an operating loss of $26.1M against $235K 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.