Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Erasca, 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
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Research and development
29.6
73.9
112
104
115
92.9
General and administrative
7.96
22.6
33
37.7
41.7
38.6
Operating expenses
109
125
247
142
180
141
Operating income
-109
-125
-247
-142
-180
-141
Other non-operating income
7.59
2.12
4.65
16.5
17.9
16.4
Pre-tax income
-162
-125
Income tax
0
0
Net income
-102
-123
-243
-125
-162
-125
EBITDA
-109
-124
-245
-138
-176
-138
EPS, basic
-4.83
-1.85
-1.99
-0.83
-0.69
-0.44
EPS, diluted
-4.83
-1.85
-1.99
-0.83
-0.69
-0.44
Shares, basic (weighted)
21
66.3
122
150
234
284
Shares, diluted (weighted)
21
66.3
122
150
234
284
Dividend per share
0.00
0.00
0.00
0.00
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
65.4
360
284
93.1
67.7
73.8
Short-term investments
53.3
54
151
219
231
202
Other current assets
1.29
5.54
8.88
8.33
10.5
10.2
Total current assets
120
420
444
321
309
286
Property, plant and equipment
1.85
16
24.8
22.3
16.3
13.3
Lease right-of-use assets
2.23
17.4
40.4
37.9
32.2
29
Long-term investments
44.8
9.64
142
65.7
Other non-current assets
0.45
2.91
4.77
4.38
2.62
1.45
Total assets
125
501
515
395
503
396
Accounts payable
0.88
4.68
23
2
0.47
0.98
Accrued liabilities
6.65
Total current liabilities
13.7
26.2
48.7
26.2
31.4
28.5
Lease liabilities
2.11
18.5
53.8
51.9
47.3
42.1
Other non-current liabilities
0.16
0.57
0.57
0.36
0.4
Total liabilities
17.4
44.9
103
78.6
79
71
Paid-in capital
1.41
695
894
923
1,191
1,217
Retained earnings
-115
-238
-481
-606
-768
-892
Other comprehensive income
0
-0.16
-1.04
0.08
0.41
0.63
Shareholders' equity
-114
457
412
317
423
325
Total equity
-114
457
412
317
423
325
Total liabilities and equity
125
501
515
395
503
396
Shares outstanding
21.9
119
149
151
283
284
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-102
-123
-243
-125
-162
-125
Depreciation and amortization
0.54
0.83
2.64
3.73
3.81
3.11
Stock-based compensation
0.8
8.33
20.1
26.2
27
24.9
Change in payables
-0.38
1.34
0.68
-0.89
-1.53
0.51
Cash from operations
-32.7
-79.6
-103
-101
-109
-95.5
Capital expenditures
-0.95
-11.2
-14.6
-1.78
-0.06
-0.13
Purchases of investments
-99.2
-106
-132
-314
-403
-151
Sales and maturities of investments
66.7
60.1
79.8
245
269
261
Cash from investing
-71.2
-64.6
-71.1
-91.2
-157
100
Stock issued
3.02
1.39
95.3
0.51
0.84
0.37
Cash from financing
140
439
98.1
1.3
241
1.1
Net change in cash
36.1
295
-76.3
-191
-25.3
6.07
Free cash flow
-33.6
-90.8
-118
-103
-109
-95.6
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 $14.25 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-79.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-66.0%
Net income / average total assets.
Return on invested capital (ROIC)
-74.9%
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
-23.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-7.6%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
-21.2%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-8.4%
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
26.0%
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
21.3%
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
32.5%
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
68.2%
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
8.29x
Current assets / current liabilities.
Quick ratio
8.01x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
8.01x
(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.
FCF per share
-$0.32
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.31
Cash from operations / diluted weighted shares.
Book value per share
$1.16
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
13.8x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
13.8x
Market cap / tangible book value, when positive.
FCF yield
-2.0%
Free cash flow / market cap.
Earnings yield
-5.8%
Net income / market cap (the inverse of P/E).
Was Erasca, Inc. profitable in fiscal 2025?
No. It reported a net loss of $124.5M.
How much free cash flow did Erasca, Inc. generate in fiscal 2025?
Cash from operations of $95.5M minus capital expenditures of $128.0K left free cash flow of -$95.6M.
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.