Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Oruka Therapeutics, 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
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2025
Revenue
0
0
0
0
0
0
0
0
0
Research and development
7.06
12.3
14.1
4.24
1.83
4.99
13.8
4.75
1.01
101
General and administrative
4.39
4.27
4.64
3.88
3.98
4.77
5.5
5.85
6.28
21.4
Operating expenses
11.5
16.6
18.7
8.12
5.81
9.77
19.3
10.6
7.3
122
Operating income
-11.5
-16.6
-18.7
-8.12
-5.81
-9.77
-19.3
-10.6
-7.3
-122
Interest expense
0
0.01
0.01
0.01
0.01
Interest income
16.6
Other non-operating income
16.6
Pre-tax income
-16.4
-18.6
-7.96
-5.65
-9.75
-19.3
-105
Income tax
0
0
-0.06
-0.03
-0.17
-0.01
0
0
0
Net income
-11.4
-16.4
-18.5
-7.93
-5.48
-9.74
-19.3
-9.93
-5.34
-105
EBITDA
-11.4
-16.6
-18.7
-8.1
-5.8
-9.76
-19.3
-10.6
-7.28
-122
EPS, basic
-32.92
-32.74
-32.02
-10.31
-4.15
-2.07
-1.39
-0.69
-0.37
EPS, diluted
-32.92
-32.74
-32.02
-10.31
-4.15
-2.07
-1.39
-0.69
-0.37
Shares, basic (weighted)
0.35
0.5
0.58
0.77
1.32
4.71
13.9
14.4
14.4
Shares, diluted (weighted)
0.35
0.5
0.58
0.77
1.32
4.71
13.9
14.4
14.4
Balance sheet
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2025
Cash and equivalents
38.8
7.4
8.7
6.61
8.36
49.1
53.4
42.4
37.4
46.9
Short-term investments
13.8
3.05
290
Other current assets
0.11
0.28
0.55
0.17
0.12
0.9
1.06
0.25
0.16
6.81
Total current assets
38.9
21.4
12.3
6.78
8.48
50
54.4
42.7
37.6
344
Property, plant and equipment
0.03
0.07
0.04
0.02
0.01
0.02
0.05
0.03
0.01
0.29
Lease right-of-use assets
0.02
0.43
0.44
0.34
0.25
1.83
Long-term investments
2.35
143
Other non-current assets
0.63
0.77
0.02
0.02
0.02
0.01
0.02
0.02
0.01
0.1
Total assets
39.6
24.6
12.4
6.83
8.54
50.4
54.9
43.1
37.9
489
Accounts payable
0.36
1.21
0.62
0.23
0.42
1.77
1.12
0.33
0.36
4.16
Accrued liabilities
0.67
0.72
0.76
0.15
0.13
0.82
0.93
0.17
0.1
Total current liabilities
1.5
2.4
2.07
0.79
0.93
3.5
3.5
1.13
0.64
15.4
Lease liabilities
0.41
0.38
0.28
0.2
1.31
Total liabilities
1.5
2.44
2.09
0.79
0.93
3.91
3.88
1.41
0.84
16.7
Paid-in capital
134
135
141
145
152
201
225
225
226
658
Retained earnings
-96.1
-113
-131
-139
-144
-154
-173
-183
-189
-189
Other comprehensive income
-0.02
-0
0.55
Shareholders' equity
38.1
22.2
10.3
6.03
7.61
46.5
51
41.7
37
472
Total equity
38.1
22.2
10.3
6.03
7.61
46.5
51
41.7
37
472
Total liabilities and equity
39.6
24.6
12.4
6.83
8.54
50.4
54.9
43.1
37.9
489
Shares outstanding
0.5
0.5
0.65
0.77
1.59
9.55
14.4
14.4
14.5
48.7
Cash flow statement
FY2015
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2025
Net income
-11.4
-16.4
-18.5
-7.93
-5.48
-9.74
-19.3
-9.93
-5.34
-105
Depreciation and amortization
0.02
0.02
0.03
0.02
0.02
0.01
0.02
0.02
0.02
0.08
Stock-based compensation
0.6
0.58
0.46
0.27
0.15
0.04
0.5
0.56
0.69
24.2
Change in payables
-0.43
0.84
-0.58
-0.39
0.19
1.1
-0.41
-0.78
0.03
Cash from operations
-10.5
-15
-17.5
-8.24
-4.8
-7.73
-18.8
-10.9
-5.01
-88.2
Capital expenditures
-0.01
-0.01
-0
-0
-0
-0.02
-0.04
-0
0
-0.21
Purchases of investments
-5.47
-521
Sales and maturities of investments
424
Cash from investing
-0.01
-16.4
12.9
3.05
-0
-0.02
-0.04
-0
0
-96.7
Stock issued
37
6.55
3.53
7.28
50.9
24.1
0.67
Cash from financing
34
5.85
3.1
6.56
48.5
23.1
0
0
170
Net change in cash
1.3
-2.09
1.76
40.7
4.29
-10.9
-5.01
-14.6
Free cash flow
-10.5
-15
-17.5
-8.25
-4.81
-7.74
-18.8
-10.9
-5.01
-88.4
Interest paid
0
0.01
0.01
0.01
0.01
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 $84.46 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-11.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-11.7%
Net income / average total assets.
Return on invested capital (ROIC)
-14.5%
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%.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
38.5x
Current assets / current liabilities.
Quick ratio
38.0x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
38.0x
(Cash + short-term investments) / current liabilities.
Market cap + total debt - cash - short-term investments.
P/B
5.02x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
5.02x
Market cap / tangible book value, when positive.
FCF yield
-1.8%
Free cash flow / market cap.
Earnings yield
-2.4%
Net income / market cap (the inverse of P/E).
Was Oruka Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $105.4M.
How much free cash flow did Oruka Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $88.2M minus capital expenditures of $209.0K left free cash flow of -$88.4M.
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.