Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data DBV Technologies S.A. 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
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
14.7
11.3
5.71
4.84
15.7
4.15
5.64
Research and development
115
102
70.3
75.5
60.2
89.3
117
Selling and marketing
21.6
9.88
4.39
1.61
2.44
2.66
3.22
General and administrative
49.1
35.1
30.5
24.3
29.5
28.7
32.8
Operating expenses
186
170
104
101
92.2
121
153
Operating income
-171
-159
-98.6
-96.6
-76.4
-117
-147
Pre-tax income
-171
-160
-98.2
-96.2
-72.7
-114
-146
Income tax
0.61
-0.01
-0.38
0.07
0.01
0.06
0.49
Net income
-172
-160
-97.8
96.3
72.7
-114
-147
EBITDA
-154
-94.2
-93.9
-72.9
-114
-144
EPS, basic
-4.65
-2.95
-1.78
-1.24
-0.76
-1.17
-1.05
EPS, diluted
-4.65
-2.95
-1.78
-1.24
-0.76
-1.17
-1.05
Shares, basic (weighted)
37
54.1
54.9
77.4
95.1
97
140
Shares, diluted (weighted)
37
54.1
54.9
77.4
95.1
97
140
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
193
196
77.3
209
141
32.5
194
Receivables
2.23
0
0
0
Inventory
2.29
0
Other current assets
9.01
8.79
37.1
13.9
17.5
11.9
18.8
Total current assets
205
207
114
223
159
44.4
213
Property, plant and equipment
25
24.8
18.1
15.1
12.6
11.3
10.4
Lease right-of-use assets
23.6
10.1
7.34
2.51
5.25
5.5
4.6
Intangible assets
0.05
0.04
0.02
0.01
0.06
0.04
0
Other non-current assets
18.5
29.9
6.83
5.82
6.14
4.42
5.8
Total assets
272
272
147
247
183
65.7
234
Accounts payable
24
20.3
11.4
14.5
23.3
22
11.3
Short-term debt
0.81
Total current liabilities
54
52.7
31.4
29.5
37.3
31.1
58
Long-term debt
0.65
Lease liabilities
22
10.5
7.15
1.13
4.53
6.3
5.4
Other non-current liabilities
0.08
0.48
2.15
4.74
0
0
Total liabilities
78.5
66.8
47.4
52.1
42.8
38.3
64.9
Total debt
1.46
1.27
0.51
Paid-in capital
1,004
1,152
358
458
377
316
541
Retained earnings
-799
-959
-259
-260
-239
-286
-393
Treasury stock
-0.23
-1.17
-1.23
-1.11
-1.26
-1.31
-0.8
Other comprehensive income
0.11
0.48
0.52
0.78
0.74
0.91
0.5
Shareholders' equity
193
205
99.3
194
140
27.4
169
Total equity
193
205
99.3
194
140
27.4
169
Total liabilities and equity
272
272
147
247
183
65.7
234
Shares outstanding
103
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-172
-160
-97.8
96.3
72.7
-114
-147
Depreciation and amortization
4.4
4.4
2.7
3.57
2.72
2.99
Stock-based compensation
17.2
-1.13
3.12
5.03
6.02
4.62
5.39
Deferred income tax
0
0
Change in receivables
0.03
-2.07
2.15
0
0
Change in inventory
-0.53
2.33
0
0
0
-1.39
-16.1
Cash from operations
-148
-166
-108
-55.7
-79.7
-104
-121
Capital expenditures
-5.57
-2.79
-0.91
-0.75
-0.68
-2.34
-0.53
Purchases of investments
-0.07
-0.1
-0.12
-0.12
0
-0
Cash from investing
-5.66
-2.87
-0.43
-0.1
-0.81
-0.76
-1.37
Debt repaid
-1.37
Stock issued
150
150
Cash from financing
208
150
0.27
194
6.77
0.59
276
Exchange rate effect
-0.89
22
-10.7
Net change in cash
52.7
3.1
-119
132
-67.8
-109
162
Free cash flow
-154
-168
-109
-56.4
-80.3
-107
-122
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 $11.64 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-3,603.0%
Operating income / revenue.
Pre-tax margin
-3,550.0%
Pre-tax income / revenue.
Net margin
-3,565.0%
Net income / revenue.
FCF margin
-3,457.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-3,430.0%
Cash from operations / revenue.
Return on equity (ROE)
-109.7%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-78.8%
Net income / average total assets.
R&D / revenue
2,555.0%
Research and development expense / revenue.
Stock-based pay / revenue
171.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
27.0%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
35.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
5.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-13.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
516.1%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-4.6%
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
-3.9%
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
255.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-1.8%
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
-3.0%
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
43.9%
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
21.7%
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
20.9%
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
3.72x
Current assets / current liabilities.
Quick ratio
3.22x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.22x
(Cash + short-term investments) / current liabilities.
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.
Revenue per share
$0.01
Revenue / diluted weighted shares.
FCF per share
-$0.39
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.39
Cash from operations / diluted weighted shares.
Book value per share
$0.37
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
140x
Market cap / revenue.
P/B
4.30x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.30x
Market cap / tangible book value, when positive.
EV/Sales
104x
Enterprise value / revenue.
FCF yield
-24.8%
Free cash flow / market cap.
Earnings yield
-25.5%
Net income / market cap (the inverse of P/E).
What was DBV Technologies S.A.'s revenue in fiscal 2025?
DBV Technologies S.A. reported revenue of $5.6M for fiscal 2025, 35.8% higher than the year before.
Was DBV Technologies S.A. profitable in fiscal 2025?
No. It reported a net loss of $146.9M.
How much free cash flow did DBV Technologies S.A. generate in fiscal 2025?
Cash from operations of $121.2M minus capital expenditures of $532.0K left free cash flow of -$121.7M.
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.