Ginkgo Bioworks Holdings, Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Ginkgo Bioworks 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
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
54.2
76.7
314
478
251
227
170
Research and development
96.3
160
1,150
1,053
581
424
244
General and administrative
29.5
38.3
863
1,430
385
246
183
Operating expenses
126
214
2,142
2,687
1,116
787
485
Operating income
-71.6
-137
-1,828
-2,209
-864
-560
-315
Interest expense
2.42
2.39
2.37
0.11
0.09
0.09
0
Interest income
5.76
2.58
0.84
20.3
57.2
38.6
22.6
Other non-operating income
12.2
-9.66
87.6
-28.5
12.2
1.68
Pre-tax income
-120
-125
-1,838
-2,121
-893
-548
-314
Income tax
0.02
1.89
-1.48
-15
-0.07
-0.48
-0.84
Net income to minority interests
-0.53
-0.11
-6.6
-1.44
0
0
Net income
-119
-127
-1,830
-2,105
-893
-547
-313
EBITDA
-60.8
-123
-1,799
-2,166
-794
-497
-256
EPS, basic
-4.02
-4.02
-54.22
-50.15
-18.37
-10.54
-5.64
EPS, diluted
-4.02
-4.02
-55.82
-50.20
-18.37
-10.54
-5.64
Shares, basic (weighted)
28.6
31.7
33.9
42
48.6
51.9
55.5
Shares, diluted (weighted)
28.6
31.7
33.9
42
48.6
51.9
55.5
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
495
381
1,550
1,316
944
562
167
Short-term investments
0
255
Receivables
16.7
132
80.9
17.2
21.9
24
Inventory
2.74
3.36
4.36
0.05
Other current assets
0.68
0.7
0.49
0.36
18.7
25
Total current assets
427
1,723
1,450
1,002
603
472
Property, plant and equipment
121
146
315
188
204
167
Lease right-of-use assets
0
401
207
394
361
Goodwill
1.86
1.86
21.3
60.2
49.2
0
Intangible assets
3.29
21.6
111
82.7
72.5
53.5
Other non-current assets
5.6
44
88.7
58.1
55.3
9.03
Total assets
675
2,071
2,539
1,665
1,377
1,120
Accounts payable
13.9
8.19
10.5
9.32
14.2
10.6
Accrued liabilities
30.5
93.3
115
15.7
9.89
4.26
Deferred revenue
28.8
33.2
47.8
44.5
27.7
18.9
Total current liabilities
73.2
135
173
164
107
96
Lease liabilities
0
413
222
439
417
Other non-current liabilities
3.03
36
31.2
24.4
16.6
22.9
Total liabilities
205
504
803
568
661
611
Paid-in capital
929
3,805
6,136
6,386
6,555
6,657
Retained earnings
-468
-2,298
-4,398
-5,291
-5,838
-6,150
Other comprehensive income
0
-1.72
-2.63
1.48
-1.81
1.85
Shareholders' equity
461
1,505
1,736
1,097
716
509
Minority interests
8.68
62
0
Total equity
502
470
1,567
1,736
1,097
716
509
Total liabilities and equity
675
2,071
2,539
1,665
1,377
1,120
Shares outstanding
32.1
40.1
1,892
50
54.4
58.2
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-120
-127
-1,837
-2,106
-893
-547
-313
Depreciation and amortization
10.8
13.9
29.1
42.6
70.5
63
59
Stock-based compensation
0.77
0.48
1,606
1,931
230
112
81.5
Deferred income tax
0
0
-14.6
-0.8
-0.94
-1.36
Change in receivables
-1.84
-14.2
-114
55
50.1
-4.73
-1.47
Change in inventory
-2.74
-0.63
0.16
Change in payables
0.66
7.02
-2.25
-10.8
-1.18
4.77
-2.99
Cash from operations
-44.7
-136
-254
-252
-296
-320
-171
Capital expenditures
-22.2
-57.8
-56.5
-52.3
-40.8
-62.5
-7.67
Acquisitions
0
-12
82.4
0
-5.4
0
Purchases of investments
0
0
-419
Sales and maturities of investments
0
0
0
159
Cash from investing
-74.6
-67.1
-73.3
-67.4
-80.7
-62.2
-240
Stock issued
0.01
0.03
0.17
0.24
0
0
19.5
Share buybacks
-0.41
0
-25
0
0
Cash from financing
410
90.3
1,534
95.3
-3.22
-1.74
17.8
Exchange rate effect
-0.02
0.91
-0.59
-0.28
0.2
Net change in cash
291
-113
1,207
-223
-380
-384
-393
Free cash flow
-66.9
-194
-310
-304
-336
-382
-179
Interest paid
2.35
2.57
2.37
0.09
0.08
0.03
0
Income taxes paid
0.03
0
9.46
0.98
0.02
0
0.19
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 $10.46 on September 28, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-231.1%
Operating income / revenue.
EBITDA margin
-190.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-223.1%
Pre-tax income / revenue.
Net margin
-219.6%
Net income / revenue.
FCF margin
-132.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-128.6%
Cash from operations / revenue.
Return on equity (ROE)
-69.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-29.4%
Net income / average total assets.
Return on invested capital (ROIC)
-72.0%
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%.
R&D / revenue
162.8%
Research and development expense / revenue.
Stock-based pay / revenue
47.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
3.4%
Capital expenditures / revenue.
D&A / revenue
40.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-25.1%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-29.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
17.3%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-29.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-33.6%
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
2.0%
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
-18.7%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-23.9%
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
10.6%
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
6.9%
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
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
11.8%
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
4.57x
Current assets / current liabilities.
Quick ratio
1.34x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.16x
(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
$2.13
Revenue / diluted weighted shares.
FCF per share
-$2.82
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.74
Cash from operations / diluted weighted shares.
Book value per share
$6.60
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
5.08x
Market cap / revenue.
P/B
1.60x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.79x
Market cap / tangible book value, when positive.
EV/Sales
4.44x
Enterprise value / revenue.
FCF yield
-26.0%
Free cash flow / market cap.
Earnings yield
-43.2%
Net income / market cap (the inverse of P/E).
What was Ginkgo Bioworks Holdings, Inc.'s revenue in fiscal 2025?
Ginkgo Bioworks Holdings, Inc. reported revenue of $170.2M for fiscal 2025, 25.1% lower than the year before.
Was Ginkgo Bioworks Holdings, Inc. profitable in fiscal 2025?
No. It reported a net loss of $312.8M.
How much free cash flow did Ginkgo Bioworks Holdings, Inc. generate in fiscal 2025?
Cash from operations of $171.1M minus capital expenditures of $7.7M left free cash flow of -$178.7M.
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.