Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Rapport 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
FY2024
FY2024
FY2025
Research and development
28
60.9
94.8
General and administrative
8.18
22.1
30.3
Operating expenses
36.2
83.1
125
Operating income
-36.2
-83.1
-125
Interest income
2.53
12.1
13.6
Other non-operating income
1.4
4.75
13.6
Pre-tax income
-34.8
-78.3
Income tax
0.01
0
0
Net income
-34.8
-78.3
-111
EBITDA
-36.1
-82.2
-124
EPS, basic
-23.10
-3.78
-2.86
EPS, diluted
-23.10
-3.78
-2.86
Shares, basic (weighted)
1.51
20.7
38.9
Shares, diluted (weighted)
1.51
20.7
38.9
Balance sheet
FY2024
FY2024
FY2025
Cash and equivalents
70.2
56.8
52.6
Short-term investments
77.3
248
438
Receivables
0
Other current assets
3.31
4.42
7.92
Total current assets
151
310
499
Property, plant and equipment
1.92
3.53
2.98
Lease right-of-use assets
2.08
1.44
9.91
Other non-current assets
0.55
0.16
0.99
Total assets
155
315
512
Accounts payable
2.5
1.95
4.19
Accrued liabilities
5.63
6.08
12.1
Total current liabilities
8.8
8.77
19
Lease liabilities
1.48
0.74
8.73
Total liabilities
14.5
9.51
27.8
Paid-in capital
19.8
430
719
Retained earnings
-45.4
-124
-235
Other comprehensive income
0
-0.52
0.55
Shareholders' equity
-25.6
305
485
Total equity
-25.6
305
485
Total liabilities and equity
155
315
512
Shares outstanding
4.17
36.6
47.8
Cash flow statement
FY2024
FY2024
FY2025
Net income
-34.8
-78.3
-111
Depreciation and amortization
0.11
0.84
1.02
Stock-based compensation
3.53
10.2
18.9
Change in payables
0.86
-0.35
2.22
Cash from operations
-27.2
-64.8
-87.5
Capital expenditures
-1.64
-2.41
-0.62
Purchases of investments
-77.2
-378
-355
Sales and maturities of investments
210
168
Cash from investing
-78.9
-170
-187
Stock issued
0.05
0.01
1.35
Cash from financing
145
222
271
Net change in cash
39.1
-13.3
-4.16
Free cash flow
-28.8
-67.2
-88.1
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 $33.91 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-32.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-29.9%
Net income / average total assets.
Return on invested capital (ROIC)
-33.8%
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
58.7%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
62.7%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
87.7%
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
15.7x
Current assets / current liabilities.
Quick ratio
15.4x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
15.3x
(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
-$2.05
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.04
Cash from operations / diluted weighted shares.
Book value per share
$8.82
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
3.85x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.85x
Market cap / tangible book value, when positive.
FCF yield
-6.0%
Free cash flow / market cap.
Earnings yield
-8.4%
Net income / market cap (the inverse of P/E).
Was Rapport Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $111.5M.
How much free cash flow did Rapport Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $87.5M minus capital expenditures of $616.0K left free cash flow of -$88.1M.
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.