Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Solid Biosciences 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
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
0
0
0
13.6
8.09
Research and development
20.1
39.9
58
94.7
64.9
58.7
78.4
76.6
96.4
140
General and administrative
5.46
15
17.7
24.6
21.6
27.1
28.9
27.8
33.3
38.9
Operating expenses
25.6
54.9
75.7
119
88.4
85.9
115
104
130
179
Operating income
-25.6
-54.9
-75.7
-119
-88.4
-72.3
-106
-104
-130
-179
Interest expense
0.44
0.34
-0.2
Interest income
0.37
0.22
0.62
1.58
0.12
0.06
2.62
7.58
9.47
9.9
Other non-operating income
1.8
1.68
0.89
2.1
0.12
0.07
20.5
8.24
5.03
4.88
Pre-tax income
-125
-174
Income tax
0
0
0
0
0
0
0
0
Net income to minority interests
-2.23
-1.06
0
Net income
-21.5
-52.1
-74.8
-117
-88.3
-72.2
-86
-96
-125
-174
EBITDA
-25.5
-54.4
-74.1
-116
-84.5
-69.3
-104
-102
-127
-178
EPS, basic
-152.10
-43.20
-33.75
-43.65
-25.50
-10.14
-10.10
-4.83
-3.06
-1.99
EPS, diluted
-152.10
-43.20
-33.75
-43.65
-25.50
-10.14
-10.10
-4.83
-3.06
-1.99
Shares, basic (weighted)
0.11
0.91
2.22
2.69
3.46
7.12
8.51
19.9
40.8
87.5
Shares, diluted (weighted)
0.11
0.91
2.22
2.69
3.46
7.12
8.51
19.9
40.8
87.5
Balance sheet
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
7.68
52.1
86.4
76
155
119
155
74
80.2
59.9
Short-term investments
17
36.1
7.48
88.6
58.3
49.6
68.7
128
Other current assets
1.5
6.18
2.78
4.16
14.7
5.92
6.09
8.38
16.4
Total current assets
70.7
129
86.3
159
223
220
130
157
205
Property, plant and equipment
2.43
10.4
11.6
8.15
6.46
9.66
6.62
4.75
4.17
Lease right-of-use assets
4.99
3.58
1.14
28.9
26.5
24.3
21.9
Other non-current assets
0.21
0.21
0.21
0.09
0.18
0.21
0.37
0.22
Total assets
76.2
140
103
171
232
260
165
189
233
Accounts payable
5.07
3.69
7.12
3.27
4.46
3.24
2.03
4.24
3.22
Accrued liabilities
5.97
8.24
9.18
8.64
9.53
16.7
10.2
19.9
18.9
Deferred revenue
10.4
8.08
Total current liabilities
11.3
12.5
18.3
24.5
23.6
22.5
14.5
30.3
33.5
Lease liabilities
4.41
2.42
0.28
24.3
22.7
21.2
19.1
Other non-current liabilities
1.07
1.3
0.1
Total liabilities
11.3
14.4
23.4
39.1
24.2
48.6
38.5
51.4
52.5
Paid-in capital
324
396
537
685
774
785
921
1,138
Retained earnings
-124
-199
-316
-405
-477
-563
-659
-783
-958
Other comprehensive income
-0.01
-0.01
0
0
-0.05
-0.07
0.02
0.05
0.05
Shareholders' equity
-59.3
125
80
132
208
212
126
137
180
Total equity
-37.9
-59.3
125
80
132
208
212
126
137
180
Total liabilities and equity
76.2
140
103
171
232
260
165
189
233
Shares outstanding
0
2.36
3.07
84.9
7.36
19.6
20.4
40.5
79
Cash flow statement
FY2016
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-23.8
-53.2
-74.8
-117
-88.3
-72.2
-86
-96
-125
-174
Depreciation and amortization
0.06
0.45
1.57
2.82
3.92
2.96
2.41
2.58
2.46
1.64
Stock-based compensation
1.47
5.33
5.96
14.2
11.6
13.4
7.54
7.63
10.5
16.9
Change in payables
2.21
1.58
-1.61
3.78
-3.43
1.21
-5.25
-0.76
2.21
-1.09
Cash from operations
-20.1
-43.2
-70.2
-92.7
-56.6
-77.8
-98
-94.2
-100
-156
Capital expenditures
-0.39
-2.28
-7.78
-4.39
-0.9
-1.28
-3.02
-1.52
-0.65
-1.15
Purchases of investments
-25.7
-18.9
-44.3
-31.5
-0.4
-141
-183
-117
-204
-236
Cash from investing
-4.05
10.4
-26.8
24.5
6.6
-91.1
59.2
9.69
-16.1
-58.5
Stock issued
49.3
113
135
72.6
2.97
0.46
0.01
Cash from financing
3.42
77.1
132
57.9
129
135
74.8
3.12
122
194
Net change in cash
-20.8
44.3
34.5
-10.3
78.7
-33.9
36
-81.4
6.34
-20.3
Free cash flow
-20.5
-45.5
-78
-97.1
-57.5
-79
-101
-95.7
-101
-157
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 $7.29 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-55.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-49.2%
Net income / average total assets.
Return on invested capital (ROIC)
-78.1%
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
31.2%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-5.3%
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
6.4%
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
23.3%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-3.7%
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
6.3%
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
114.4%
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
117.4%
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
90.8%
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
13.8x
Current assets / current liabilities.
Quick ratio
13.2x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
13.2x
(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
-$1.31
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$1.30
Cash from operations / diluted weighted shares.
Book value per share
$3.56
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
2.09x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
2.09x
Market cap / tangible book value, when positive.
FCF yield
-24.0%
Free cash flow / market cap.
Earnings yield
-26.5%
Net income / market cap (the inverse of P/E).
Was Solid Biosciences Inc. profitable in fiscal 2025?
No. It reported a net loss of $174.3M.
How much free cash flow did Solid Biosciences Inc. generate in fiscal 2025?
Cash from operations of $156.3M minus capital expenditures of $1.2M left free cash flow of -$157.4M.
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.