Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data LianBio 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
Research and development
121
159
59.8
General and administrative
14
36.9
65.6
Operating expenses
135
196
125
Operating income
-135
-196
-125
Other non-operating income
0.12
-0.46
10.4
Pre-tax income
-140
-196
-111
Income tax
0
0.52
-0.33
Net income to minority interests
0
0
0
Net income
-140
-196
-110
EBITDA
-135
-195
-124
EPS, basic
-11.58
-5.71
-1.02
EPS, diluted
-11.58
-5.71
-1.02
Shares, basic (weighted)
12.1
34.4
108
Shares, diluted (weighted)
12.1
34.4
108
Balance sheet
FY2021
FY2021
FY2022
Cash and equivalents
254
228
79.2
Short-term investments
0
155
223
Other current assets
2.4
10.4
8.64
Total current assets
277
400
313
Property, plant and equipment
0.82
1.88
3.12
Lease right-of-use assets
1.71
4.76
3.98
Other non-current assets
0.01
0.05
0.02
Total assets
279
426
320
Accounts payable
4.33
3.23
1.45
Accrued liabilities
1
9.98
19.8
Total current liabilities
6.23
15.1
23.6
Lease liabilities
1.34
3.71
2.49
Other non-current liabilities
0
0.21
0.21
Total liabilities
27.6
39
26.3
Paid-in capital
31.1
713
732
Retained earnings
-164
-360
-471
Other comprehensive income
-0.04
0.53
-2.08
Shareholders' equity
-133
354
260
Minority interests
34.8
33.8
33.8
Total equity
-98.1
387
294
Total liabilities and equity
279
426
320
Shares outstanding
20.5
107
107
Cash flow statement
FY2021
FY2021
FY2022
Net income
-140
-196
-110
Depreciation and amortization
0.08
0.53
1.01
Stock-based compensation
5.18
8.66
19.1
Deferred income tax
0
0
0
Change in payables
4.16
-1.71
-1.71
Cash from operations
-98.1
-164
-99.2
Capital expenditures
-0.89
-0.95
-1.85
Purchases of investments
0
-155
-303
Sales and maturities of investments
0
236
Cash from investing
-0.89
-156
-69.2
Stock issued
0
5.55
1.71
Cash from financing
310
313
1.71
Exchange rate effect
0.33
0.45
-2.21
Net change in cash
211
-6.17
-169
Free cash flow
-99
-165
-101
Income taxes paid
0
0.38
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2023; growth uses fiscal years. Valuation uses the share price of $0.06 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-43.5%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-33.5%
Net income / average total assets.
Return on invested capital (ROIC)
-85.1%
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
-26.5%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-25.0%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
213.8%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
10.1x
Current assets / current liabilities.
Quick ratio
9.84x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
9.84x
(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
-$0.78
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.78
Cash from operations / diluted weighted shares.
Book value per share
$1.89
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
0.03x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
0.03x
Market cap / tangible book value, when positive.
FCF yield
-1,295.0%
Free cash flow / market cap.
Earnings yield
-1,357.0%
Net income / market cap (the inverse of P/E).
Was LianBio profitable in fiscal 2022?
No. It reported a net loss of $110.3M.
How much free cash flow did LianBio generate in fiscal 2022?
Cash from operations of $99.2M minus capital expenditures of $1.8M left free cash flow of -$101.0M.
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.