Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Summit 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
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
57.1
0.86
1.81
0.71
0
0
Research and development
52
53.3
85.4
52
59.5
151
538
General and administrative
17
19.2
23.6
26.7
29.3
60.2
557
Operating expenses
74.3
73.4
109
87.2
610
226
1,094
Operating income
5.39
-53.2
-86.2
-72.1
-610
-226
Interest expense
0.62
0.26
0.24
4.4
16.5
8.69
0
Interest income
0.01
0
0
1.51
Other non-operating income
3.69
0.28
-2.42
-2.29
11.2
13.4
14.8
Pre-tax income
9.08
-52.9
-88.6
-78.8
-615
-221
-1,080
Income tax
-1.79
-0.21
0
0
0
0
Net income
10.9
-52.7
-88.6
-78.8
-615
-221
-1,080
EBITDA
5.8
-52.9
-85.9
-71.7
-609
-226
EPS, basic
0.44
-0.53
-0.67
-0.41
-0.99
-0.31
-1.44
EPS, diluted
0.44
-0.53
-0.67
-0.41
-0.99
-0.31
-1.44
Shares, basic (weighted)
24.6
99.6
132
193
620
719
748
Shares, diluted (weighted)
24.7
99.6
132
193
620
719
748
Balance sheet
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
35.2
66.4
71.8
349
71.4
105
225
Short-term investments
0
115
307
488
Receivables
0.33
1.46
0.35
0
Other current assets
1.52
1.2
0.49
0.18
11.1
6.54
Total current assets
87.7
97.3
657
190
424
720
Property, plant and equipment
0.73
0.69
0.91
0.2
0.25
1.06
Lease right-of-use assets
0.55
2.79
4.18
5.86
7.14
20.6
Goodwill
1.95
2.03
2.01
1.8
1.89
1.86
2
Intangible assets
11.5
10.4
0
0
0
Other non-current assets
0
0.17
0.58
4.32
2.55
7.21
Total assets
102
113
664
203
436
751
Accounts payable
6.14
4.37
0.36
2.67
4.64
20.3
Accrued liabilities
3.28
7.2
10.7
8.78
19.6
32.1
Deferred revenue
8.37
7.94
0
Total current liabilities
19.9
25.6
38.8
20.4
41.7
73
Long-term debt
495
100
0
Lease liabilities
0.08
1.69
2.76
3.29
3.45
17.5
Other non-current liabilities
2.51
2.78
1.43
1.56
1.63
1.83
Total liabilities
23
30.1
538
125
46.8
92.3
Paid-in capital
293
384
505
1,066
1,598
2,948
Retained earnings
-211
-300
-378
-993
-1,215
-2,294
Other comprehensive income
-3.79
-2.2
-1.89
-2.45
-2.29
-2.54
Shareholders' equity
57.6
79.5
83.3
127
77.7
389
659
Total equity
57.6
79.5
83.3
127
77.7
389
659
Total liabilities and equity
102
113
664
203
436
751
Shares outstanding
118
98
211
702
738
775
Cash flow statement
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
10.9
-52.7
-88.6
-78.8
-615
-221
-1,080
Depreciation and amortization
0.41
0.3
0.33
0.35
0.2
0.09
0.15
Stock-based compensation
6.3
1.77
12.8
11.9
14.1
51
732
Deferred income tax
-1.91
0
0
Change in receivables
-2.47
0.21
-1.14
0.98
0.36
0
Change in payables
-0.01
1.64
-1.71
-4.13
2.26
2.02
15.3
Cash from operations
-35.1
-48.1
-72.6
-41.6
-76.8
-142
-323
Capital expenditures
-0.16
-0.42
-0.31
-0.62
-0.13
-0.14
-0.66
Purchases of investments
0
-321
-680
-485
Cash from investing
-0.33
-0.42
-0.31
-0.62
-588
-205
-174
Stock issued
46.1
50
75
100
105
Dividends paid
0
0
Cash from financing
44.5
50.6
77.9
620
86.5
381
618
Exchange rate effect
-2.32
0.56
0.35
Net change in cash
6.75
2.58
5.37
577
-577
33.8
120
Free cash flow
-35.3
-48.5
-72.9
-42.2
-76.9
-142
-324
Interest paid
0
0.09
0.43
10.7
8.81
0
Income taxes paid
0.07
-0.07
0.01
0
0.05
0
0
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 $15.61 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-135.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-113.8%
Net income / average total assets.
Growth
Metric
Value
How it is calculated
Book value growth, 1y
69.5%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
73.3%
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
52.7%
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
72.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
4.2%
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
48.9%
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
4.1%
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
57.0%
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
49.7%
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
6.96x
Current assets / current liabilities.
Quick ratio
6.67x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
6.67x
(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
-$0.59
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.59
Cash from operations / diluted weighted shares.
Book value per share
$0.79
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
19.8x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
19.8x
Market cap / tangible book value, when positive.
FCF yield
-3.7%
Free cash flow / market cap.
Earnings yield
-6.9%
Net income / market cap (the inverse of P/E).
Was Summit Therapeutics Inc. profitable in fiscal 2025?
No. It reported a net loss of $1.08B.
How much free cash flow did Summit Therapeutics Inc. generate in fiscal 2025?
Cash from operations of $322.9M minus capital expenditures of $657.0K left free cash flow of -$323.6M.
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.