Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data ALX ONCOLOGY HOLDINGS INC files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
2.07
4.8
1.18
0
0
Research and development
11.3
16.3
29
60.2
98.4
142
116
77
General and administrative
2.6
3.31
14.8
23.4
29
28.5
26.1
23.9
Operating expenses
15.8
24
44.8
83.6
127
170
142
104
Operating income
-13.7
-19.2
-43.7
-83.6
-127
-170
-142
-104
Interest expense
0.01
0.24
1.57
1.73
1.6
Interest income
0.09
4.28
10.6
9.37
3.96
Other non-operating income
-0.01
-1.34
-0.01
-0.02
0.39
-0.02
-0.04
Pre-tax income
-13.7
-19.2
-45.5
-83.5
-123
-161
-135
-102
Income tax
0.05
0.03
0.24
-0.02
0.06
0
0
0
Net income
-13.7
-19.2
-45.7
-83.5
-123
-161
-135
-102
EBITDA
-13.3
-18.8
-43.5
-83.5
-127
-169
-142
-103
EPS, basic
-6.33
-7.56
-2.76
-2.07
-3.03
-3.74
-2.58
-1.90
EPS, diluted
-6.33
-7.56
-2.76
-2.07
-3.03
-3.74
-2.58
-1.90
Shares, basic (weighted)
2.75
3.08
18.5
40.3
40.7
43
52.2
53.7
Shares, diluted (weighted)
2.75
3.08
18.5
40.3
40.7
43
52.2
53.7
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
8.26
9.02
434
364
48.8
22.4
17.6
16.4
Short-term investments
217
160
110
28.4
Other current assets
0.26
1.77
3.35
4.76
0.44
0.03
0.02
Total current assets
9.81
436
367
271
189
134
50.7
Property, plant and equipment
0.86
0.05
0.9
3.89
3.59
2.91
1.2
Lease right-of-use assets
1.83
5.63
4.85
4.02
1.16
Long-term investments
16.7
35.4
3.52
3.49
Other non-current assets
0.01
0.01
12.3
14.9
14.9
6.99
3.63
Total assets
10.7
436
380
306
243
148
59
Accounts payable
3.75
0
3.76
8.07
8.59
4.5
4.91
Accrued liabilities
0.92
1.97
3.29
3.71
6.07
5.31
4.36
Short-term debt
0
0
0.44
5.22
Total current liabilities
4.98
6.2
15.3
28.3
36
18.5
24.6
Long-term debt
5.42
9.39
9.64
9.47
4.53
Lease liabilities
1.56
5.26
4.41
3.46
2.56
Other non-current liabilities
0.55
0.01
1.84
5.31
7.2
6.19
3.98
Total liabilities
11
6.21
17.1
43
52.8
34.2
33.1
Total debt
5.42
10.6
10.6
10.6
10.2
Paid-in capital
2.14
548
565
590
676
734
749
Retained earnings
-72.8
-119
-202
-325
-486
-621
-723
Other comprehensive income
-0.85
0.26
0.28
0.03
Shareholders' equity
-51.8
-70.6
430
363
263
190
114
26
Total equity
-51.8
-70.6
430
363
263
190
114
26
Total liabilities and equity
10.7
436
380
306
243
148
59
Shares outstanding
3.17
39.8
40.6
40.9
50
53.1
54.4
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-13.7
-19.2
-45.7
-83.5
-123
-161
-135
-102
Depreciation and amortization
0.43
0.43
0.2
0.05
0.34
0.84
0.87
0.71
Stock-based compensation
0.27
0.3
5.44
13.9
23.8
26.3
27.1
12.6
Deferred income tax
0
0
0
Change in payables
-0.27
2.98
-3.74
3.29
4.51
0.46
-4.02
0.42
Cash from operations
-13.2
-14.2
-38.3
-68.1
-89.2
-130
-122
-84.1
Capital expenditures
-0.65
-0.35
-0.03
-0.67
-1.43
-1.27
-0.45
-0.21
Purchases of investments
-377
-247
-107
-51.6
Sales and maturities of investments
143
293
194
134
Cash from investing
-0.65
-0.35
0.61
-4.92
-235
44.7
86.3
82.6
Debt issued
5.92
10
Debt repaid
-0.44
Stock issued
0.01
0.01
368
2.55
0.57
0.27
29.7
1.69
Share buybacks
-0.01
Cash from financing
0
15.4
463
2.47
9.86
59.3
30.8
0.36
Net change in cash
-13.8
0.76
425
-70.6
-315
-26.4
-4.84
-1.19
Free cash flow
-13.8
-14.6
-38.3
-68.8
-90.7
-132
-122
-84.4
Interest paid
0.43
0.01
0.1
1.18
1.39
1.26
Income taxes paid
0.05
0.27
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.31 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-59.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-50.3%
Net income / average total assets.
Return on invested capital (ROIC)
-52.7%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
-77.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-53.8%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y
-42.9%
Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-60.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-42.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-33.0%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
2.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
9.7%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
23.8%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
9.71x
Current assets / current liabilities.
Quick ratio
9.35x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.35x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.07x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
6.3%
Total debt / total assets.
Liabilities / assets
15.3%
Total liabilities / total assets.
Net debt
-$128.0M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
FCF per share
-$0.52
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.52
Cash from operations / diluted weighted shares.
Book value per share
$0.99
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
1.33x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.33x
Market cap / tangible book value, when positive.
FCF yield
-39.2%
Free cash flow / market cap.
Earnings yield
-44.7%
Net income / market cap (the inverse of P/E).
Was ALX ONCOLOGY HOLDINGS INC profitable in fiscal 2025?
No. It reported a net loss of $101.7M.
How much free cash flow did ALX ONCOLOGY HOLDINGS INC generate in fiscal 2025?
Cash from operations of $84.1M minus capital expenditures of $212.0K left free cash flow of -$84.4M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.