Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Scholar Rock Holding Corp 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
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
20.5
15.4
18.8
33.2
0
Research and development
19.9
36.3
54.2
74.1
108
124
122
185
208
General and administrative
5.09
14.4
20.8
28.2
40.3
43.1
49.4
67.5
176
Operating expenses
25
50.7
75
102
149
168
171
252
385
Operating income
-25
-50.7
-54.5
-86.9
-130
-134
-171
-252
-385
Interest expense
0.03
0.4
2.1
4.7
6.5
6.84
6.89
Other non-operating income
0.03
1.37
3.54
0.4
-1.88
-0.13
5.51
5.76
6.71
Pre-tax income
-246
-378
Net income
-25
-49.3
-51
-86.5
-132
-135
-166
-246
-378
EBITDA
-24.4
-49.9
-53.2
-85.4
-127
-131
-168
-250
-383
EPS, basic
-15.30
-3.15
-1.85
-2.81
-3.59
-2.26
-1.99
-2.47
-3.29
EPS, diluted
-15.30
-3.15
-1.85
-2.81
-3.59
-2.26
-1.99
-2.47
-3.29
Shares, basic (weighted)
1.63
15.7
27.5
30.7
36.7
59.6
83.3
99.8
115
Shares, diluted (weighted)
1.63
15.7
27.5
30.7
36.7
59.6
83.3
99.8
115
Balance sheet
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
56.5
115
36.3
160
213
103
102
178
324
Short-term investments
1.5
60.6
121
181
40.2
212
178
259
44
Receivables
25
Other current assets
1.24
2.3
2.72
3.37
12.3
12.7
8.26
13.9
17.6
Total current assets
59.2
178
185
344
265
328
288
451
385
Property, plant and equipment
2.18
3.19
4.17
8.12
9.56
7.38
4.6
2.76
1.71
Lease right-of-use assets
4.45
32.3
25.4
18.5
11.4
15.6
10.4
Other non-current assets
0.05
0.1
1.02
1.62
1.72
4.42
2.95
3.23
Total assets
61.6
181
196
388
304
358
311
475
404
Accounts payable
1.36
3.3
1.13
3.41
4.43
3.99
3.47
10.1
10.3
Accrued liabilities
2.8
7.16
9.61
15
17.5
24.3
20.4
31.1
39.6
Deferred revenue
20.2
20.9
18.8
33.2
Short-term debt
0.64
0.44
1.58
1.33
Total current liabilities
5.02
31.1
32.8
42.6
64.3
36.4
32.7
46.9
55.4
Long-term debt
0.4
0.02
24.7
48.4
49.7
48.7
50.1
99.7
Lease liabilities
4.17
27.1
19.7
11.8
4.39
9.21
3.66
Other non-current liabilities
0.01
0.01
Total liabilities
5.93
74.7
83.5
128
132
97.9
85.8
106
159
Total debt
0.4
0.46
26
52
51
51
50.1
99.7
Paid-in capital
4
213
271
505
548
772
901
1,291
1,546
Retained earnings
-57.5
-107
-158
-244
-376
-511
-676
-923
-1,301
Other comprehensive income
-0
-0.01
0.04
-0
-0.04
-0.88
0.09
0.16
0.09
Shareholders' equity
-53.5
107
113
261
172
260
225
369
245
Total equity
-53.5
107
113
261
172
260
225
369
245
Total liabilities and equity
61.6
181
196
388
304
358
311
475
404
Shares outstanding
3.97
26.2
29.8
34.2
35.2
51.7
76
93.8
108
Cash flow statement
FY2018
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-25
-49.3
-51
-86.5
-132
-135
-166
-246
-378
Depreciation and amortization
0.67
0.81
1.3
1.49
2.63
2.99
2.84
1.94
1.66
Stock-based compensation
1.48
5.21
7.97
11.2
23.1
27.7
27.1
36.6
75.6
Change in receivables
-25
25
Change in payables
0.64
1.66
-1.34
2.1
1.02
-0.25
-0.53
6.63
0.21
Cash from operations
-21.7
24.6
-63.1
-60.3
-127
-133
-145
-201
-300
Capital expenditures
-0.36
-1.49
-3.12
-4.09
-5.25
-1.06
-0.07
-0.1
-0.6
Purchases of investments
-75.2
-235
-200
-60.4
-301
-291
-293
-98
Sales and maturities of investments
18
16.5
176
141
200
130
332
217
317
Cash from investing
17.7
-60.2
-62.2
-63.5
134
-172
41.1
-76.1
219
Debt issued
24.6
25
24.7
Debt repaid
-0.67
-0.37
-25.5
Stock issued
94.9
48.3
216
13.1
195
97.7
324
91.7
Cash from financing
50.5
94.3
48.9
248
45
195
103
353
228
Exchange rate effect
-0
Net change in cash
46.4
58.6
-76.5
124
52.5
-110
-1.51
76
147
Free cash flow
-22.1
23.1
-66.2
-64.4
-132
-134
-145
-201
-301
Interest paid
0.05
0.03
0.25
2.08
4.37
6.4
6.62
6.07
Income taxes paid
0.05
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 $48.63 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Return on equity (ROE)
-161.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-78.0%
Net income / average total assets.
Return on invested capital (ROIC)
-2,489.0%
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
-33.4%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-1.9%
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
-1.2%
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
-14.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
4.1%
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
0.8%
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
14.9%
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
24.4%
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
30.1%
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
7.02x
Current assets / current liabilities.
Quick ratio
6.81x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
6.81x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.77x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
37.5%
Total debt / total assets.
Liabilities / assets
51.5%
Total liabilities / total assets.
Net debt
-$295.9M
Total debt - cash - short-term investments. Negative means more cash than debt.
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.
Revenue per share
$0.00
Revenue / diluted weighted shares.
FCF per share
-$2.27
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$2.27
Cash from operations / diluted weighted shares.
Book value per share
$2.09
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/B
23.3x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
23.3x
Market cap / tangible book value, when positive.
FCF yield
-5.0%
Free cash flow / market cap.
Earnings yield
-6.9%
Net income / market cap (the inverse of P/E).
What was Scholar Rock Holding Corp's revenue in fiscal 2025?
Scholar Rock Holding Corp reported revenue of $0.0 for fiscal 2025.
Was Scholar Rock Holding Corp profitable in fiscal 2025?
No. It reported a net loss of $377.9M.
How much free cash flow did Scholar Rock Holding Corp generate in fiscal 2025?
Cash from operations of $300.0M minus capital expenditures of $602.0K left free cash flow of -$300.6M.
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.