Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Enlivex Ltd. 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
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Research and development
8.88
1.69
4.01
5.6
6.09
12.9
18.7
19
10.6
9.2
Selling and marketing
1.09
0.48
General and administrative
5.9
0.48
1.29
3.02
3.7
6.41
7.1
6.14
4.91
5.8
Operating expenses
15.9
2.17
5.3
8.62
9.79
19.3
25.8
29.4
15.9
15
Operating income
-15.9
-2.17
-5.3
-8.62
-9.79
-19.3
-25.8
-29.4
-15.9
-15
Interest income
0.03
0.04
0.14
0.24
0.23
0.12
0.84
1.57
1.07
0.79
Other non-operating income
0.06
0.04
-0
-0.77
-2.04
4.82
-5.26
0.33
0.87
1.93
Pre-tax income
-15.8
-5.92
-2.12
9.38
11.8
14.5
-29.1
-15
1,618
Income tax
0.22
0.03
-0
383
Income from continuing operations
-2.88
-2.5
-4.24
9.38
11.8
14.5
31.1
29.1
15
-1,236
Net income
-16
-2.5
-4.24
-9.38
-11.8
-14.5
-31.1
-29.1
-15
1,236
EBITDA
-15.8
-2.09
-5.18
-8.41
-9.5
-18.7
-25
-28.6
-15.3
-14.7
EPS, basic
-2.63
-0.94
-1.40
-1.11
-0.90
-0.81
-1.69
-1.56
-0.73
27.04
EPS, diluted
-2.63
-0.94
-1.40
-1.11
-0.90
-0.81
-1.69
-1.56
-0.73
25.48
Shares, basic (weighted)
6.09
3.43
3.51
8.65
13.2
17.9
18.4
18.6
20.5
45.7
Shares, diluted (weighted)
6.09
3.43
3.51
8.65
13.2
17.9
18.4
18.6
20.5
48.5
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
3.05
9.03
9.74
3.95
5.67
11.2
49.9
0.81
3.3
1.89
Short-term investments
62.9
5.11
0.2
Receivables
0.05
0.03
0.02
Other current assets
0.61
0.07
0.29
0.91
1.24
2.31
2.09
1.34
2.3
4.36
Total current assets
10.5
3.62
10.3
16.4
38.1
86.4
52.3
33.8
26
1,743
Property, plant and equipment
0.07
0.39
0.69
0.65
1.48
2.53
9.88
1.54
0.63
0.36
Lease right-of-use assets
0.41
0.66
5.03
1.04
0.53
0.58
Other non-current assets
5.44
1.53
1.07
0.95
Total assets
10.6
3.62
11
17.6
40.4
95.1
67.6
36.8
27.7
2,327
Accounts payable
0.7
0.02
0.17
0.32
0.46
0.88
1.95
0.83
0.81
3.81
Accrued liabilities
0.55
0.35
0.02
0.57
0.74
1.14
4.66
4
2.85
5.21
Total current liabilities
1.93
0.46
1.13
5.98
4.37
4.72
6.61
6.06
3.8
9.02
Lease liabilities
4.19
0.69
0.3
0.38
Other non-current liabilities
0.34
0.19
4.19
0.69
0.3
Total liabilities
7.82
1.05
1.33
6.28
4.87
10.1
10.8
6.75
4.1
392
Paid-in capital
48.5
48.9
27.3
37.1
70.4
134
137
139
147
797
Retained earnings
-39.8
-45.8
-16.3
-25.7
-37.5
-52
-83
-112
-127
1,108
Other comprehensive income
1.1
1.1
1.1
Shareholders' equity
2.81
8.49
9.71
11.3
35.5
85
56.8
30.1
23.6
1,935
Total equity
2.81
8.49
9.71
11.3
35.5
85
56.8
30.1
23.6
1,935
Total liabilities and equity
10.6
3.62
11
17.6
40.4
95.1
67.6
36.8
27.7
2,327
Shares outstanding
50
0.42
3.51
10.3
14.6
18.3
18.4
18.6
23.7
237
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-16
-2.5
-4.24
-9.38
-11.8
-14.5
-31.1
-29.1
-15
1,236
Depreciation and amortization
0.04
0.08
0.12
0.21
0.29
0.55
0.78
0.84
0.55
0.33
Stock-based compensation
0.7
0.12
1.01
0.81
0.67
2.91
2.71
1.95
2.07
1.78
Deferred income tax
383
Cash from operations
-15.5
-2.3
-3.16
-7.04
-11
-17.5
-24
-23.5
-13
-10.4
Capital expenditures
-0.02
-0.13
-0.46
-0.19
-1.02
-1.63
-8.12
-0.24
-0.1
-0.07
Purchases of investments
-104
-1.61
-26.2
-32.4
-24.5
Sales and maturities of investments
47.6
62.5
Cash from investing
8.98
-0.13
-0.5
-6.36
-21
-38.4
62.5
-26
9.06
-1.32
Stock issued
0.03
0
0.6
6.34
0.11
0.15
0.51
Cash from financing
6.09
8.06
5.19
8.31
33.1
61
0.15
0.36
6.45
10.4
Exchange rate effect
0.1
0.37
-0.77
0.83
0.39
-0.41
Net change in cash
-0.42
5.62
1.53
-5.09
1.1
5.03
38.7
-49.1
2.51
-1.36
Free cash flow
-15.5
-2.43
-3.62
-7.23
-12
-19.2
-32.1
-23.8
-13.1
-10.5
Interest paid
0.12
0.84
1.57
1.48
1.14
Income taxes paid
0.21
0.03
0.03
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $0.60 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Effective tax rate
23.6%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
126.2%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
104.9%
Net income / average total assets.
Return on invested capital (ROIC)
-1.2%
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
8,103.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
224.1%
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
122.5%
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
8,305.0%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
225.2%
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
125.0%
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
136.4%
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
38.1%
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
29.8%
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
193x
Current assets / current liabilities.
Quick ratio
0.21x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.21x
(Cash + short-term investments) / current liabilities.
Free cash flow / net income, when net income is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
$25.48
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.
EPS, basic
$27.04
Net income per basic share, as reported (split-adjusted).
FCF per share
-$0.22
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.21
Cash from operations / diluted weighted shares.
Book value per share
$8.15
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
0.01x
Market cap / net income. Only when net income is positive.
P/B
0.01x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.01x
Market cap / tangible book value, when positive.
FCF yield
-100.3%
Free cash flow / market cap.
Earnings yield
11,826.0%
Net income / market cap (the inverse of P/E).
Was Enlivex Ltd. profitable in fiscal 2025?
Yes. Net income was $1.24B, a net margin of -.
How much free cash flow did Enlivex Ltd. generate in fiscal 2025?
Cash from operations of $10.4M minus capital expenditures of $68.0K left free cash flow of -$10.5M.
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.