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AbCellera Biologics Inc. (ABCL) 10-Year Financial Performance & Capital Metrics

ABCL • • Industrial / General
HealthcareBiotechnologyPlatform & Technology CompaniesAntibody Discovery Platforms
AboutAbCellera Biologics Inc. develops antibody discovery platform. Its full-stack, artificial intelligence-powered antibody discovery platform searches and analyzes the database of natural immune systems to find antibodies that could be developed as drugs. As of December 31, 2021, the company had 156 discovery programs that are either completed, in progress, or under contract with 36 partners. AbCellera Biologics Inc. has a research collaboration and license agreement with Eli Lilly and Company. The company was incorporated in 2012 and is headquartered in Vancouver, Canada.Show more
  • Revenue $29M -24.2%
  • EBITDA -$218M -5.6%
  • Net Income -$163M -11.2%
  • EPS (Diluted) -0.55 -7.8%
  • Gross Margin 100%
  • EBITDA Margin -755.27% -39.2%
  • Operating Margin -1091.69% -75.0%
  • Net Margin -564.83% -46.7%
  • ROE -14.75% -20.2%
  • ROIC -22.9% -30.4%
  • Debt/Equity 0.06 -7.8%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Momentum leader: RS Rating 82 (top 18%)
  • ✓Strong 5Y sales CAGR of 19.9%
  • ✓Trading at only 1.2x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Trading more than 30% below 52-week high
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y19.95%
3Y-57.49%
TTM7.16%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM2.34%

EPS CAGR

10Y-
5Y-
3Y-
TTM3.33%

ROCE

10Y Avg-0.37%
5Y Avg5.86%
3Y Avg-8.07%
Latest-23.73%

Peer Comparison

Antibody Discovery Platforms
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RPRXRoyalty Pharma plc16.97B39.7220.80-3.86%32.55%7.95%16.32%0.74
REGNRegeneron Pharmaceuticals, Inc.76.63B741.9219.358.27%32.13%14.79%4.78%0.09
GMABGenmab A/S20.85B33.852.7930.67%46.8%114.25%36.37%0.03
DNAGinkgo Bioworks Holdings, Inc.464.86M9.58-0.91-9.71%-188%-60.66%0.65
PRMEPrime Medicine, Inc.720.24M3.99-2.42-33.02%-121.95%0.27

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+8.83M11.61M233.16M375.2M485.42M38.02M28.83M
Revenue Growth %-0.31%19.08%0.61%0.29%-0.92%-0.24%
Cost of Goods Sold+5.8M027.14M45.52M66.44M00
COGS % of Revenue0.66%-0.12%0.12%0.14%--
Gross Profit+3.03M11.61M206.01M329.69M418.99M38.02M28.83M
Gross Margin %0.34%1%0.88%0.88%0.86%1%1%
Gross Profit Growth %-2.83%16.74%0.6%0.27%-0.91%-0.24%
Operating Expenses+7.99M15.73M49.98M125.27M202.48M275.23M343.6M
OpEx % of Revenue0.9%1.35%0.21%0.33%0.42%7.24%11.92%
Selling, General & Admin2.86M4.01M15.75M48.76M66.75M75.18M85.49M
SG&A % of Revenue0.32%0.35%0.07%0.13%0.14%1.98%2.97%
Research & Development5.8M10.11M29.39M62.06M107.88M175.66M167.26M
R&D % of Revenue0.66%0.87%0.13%0.17%0.22%4.62%5.8%
Other Operating Expenses-675.51K1.6M4.84M14.45M27.84M24.39M90.85M
Operating Income+-753K-4.12M156.03M204.41M216.51M-237.21M-314.77M
Operating Margin %-0.09%-0.35%0.67%0.54%0.45%-6.24%-10.92%
Operating Income Growth %--4.47%38.9%0.31%0.06%-2.1%-0.33%
EBITDA+165.46K-2.27M161.3M221.66M249.61M-206.31M-217.77M
EBITDA Margin %0.02%-0.2%0.69%0.59%0.51%-5.43%-7.55%
EBITDA Growth %--14.72%72.06%0.37%0.13%-1.83%-0.06%
D&A (Non-Cash Add-back)918.46K1.85M5.27M17.25M33.1M30.89M97M
EBIT521K-2M164.34M221.9M227.06M-223.05M-301.15M
Net Interest Income+-170K-54K-6.22M-1.9M12.03M42.25M38.47M
Interest Income42K155K293K3.33M16.08M42.25M38.47M
Interest Expense212K209K6.51M5.22M4.04M00
Other Income/Expense1.06M1.91M1.8M14.74M22.59M63.18M114.37M
Pretax Income+309K-2.21M157.83M219.15M239.1M-174.03M-200.4M
Pretax Margin %0.03%-0.19%0.68%0.58%0.49%-4.58%-6.95%
Income Tax+0038.91M65.69M80.58M-27.63M-37.54M
Effective Tax Rate %1%1%0.75%0.7%0.66%0.84%0.81%
Net Income+309K-2.21M118.92M153.46M158.52M-146.4M-162.86M
Net Margin %0.03%-0.19%0.51%0.41%0.33%-3.85%-5.65%
Net Income Growth %--8.16%54.78%0.29%0.03%-1.92%-0.11%
Net Income (Continuing)309K-2.21M118.92M153.46M158.52M-146.4M-162.86M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+0.00-0.010.450.480.50-0.51-0.55
EPS Growth %--44.69%0.07%0.04%-2.02%-0.08%
EPS (Basic)0.00-0.010.320.560.56-0.51-0.55
Diluted Shares Outstanding151.04M237.72M263.13M318.29M314.83M289.17M294.33M
Basic Shares Outstanding151.06M215.41M267.82M275.76M285.06M289.17M294.33M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+15.16M12.64M813.33M929.8M1.03B871.99M751.37M
Cash & Short-Term Investments10.44M7.55M594.12M722.98M886.49M760.59M625.61M
Cash Only10.44M7.55M594.12M476.14M386.54M133.32M156.32M
Short-Term Investments000246.84M499.95M627.26M469.29M
Accounts Receivable1.4M2.12M213.73M160.58M38.59M64.38M92.13M
Days Sales Outstanding58.0566.76334.59156.2129.026181.17K
Inventory0163K1.41M1.67M1.53M1.11M0
Days Inventory Outstanding--18.9313.418.42--
Other Current Assets2.76M2.25M039.28M89.82M45.91M33.63M
Total Non-Current Assets+6.33M10.85M192.21M388.77M515.42M616.11M609.18M
Property, Plant & Equipment6.33M8.48M17.92M111.62M217.25M287.7M340.43M
Fixed Asset Turnover1.40x1.37x13.01x3.36x2.23x0.13x0.08x
Goodwill0031.5M47.81M47.81M47.81M47.81M
Intangible Assets00115.15M148.39M131.5M120.42M42.11M
Long-Term Investments0020.03M50.31M72.52M65.94M82.3M
Other Non-Current Assets02.37M1.71M23.23M41.03M94.24M96.54M
Total Assets+21.49M23.49M1.01B1.32B1.54B1.49B1.36B
Asset Turnover0.41x0.49x0.23x0.28x0.32x0.03x0.02x
Asset Growth %-0.09%41.81%0.31%0.17%-0.03%-0.09%
Total Current Liabilities+6.43M7.89M103.49M120.68M118.32M119.01M76.61M
Accounts Payable1.52M1.64M7.32M14.92M14.83M25.51M34.35M
Days Payables Outstanding95.49-98.43119.6881.47--
Short-Term Debt2.53M2.47M190K0000
Deferred Revenue (Current)1000K01000K1000K1000K1000K1000K
Other Current Liabilities50.12K3.37M9.08M54.85M69.84M60.68M8.09M
Current Ratio2.36x1.60x7.86x7.70x8.67x7.33x9.81x
Quick Ratio2.36x1.58x7.85x7.69x8.65x7.32x9.81x
Cash Conversion Cycle--255.0949.94-44.03--
Total Non-Current Liabilities+3.45M5.34M71.54M172.16M189.31M216.76M227.86M
Long-Term Debt911.22K1.36M2.2M0000
Capital Lease Obligations02.64M3.71M36.41M76.67M71.22M60.74M
Deferred Tax Liabilities0026.16M37.37M33.18M30.61M10.05M
Other Non-Current Liabilities277.13K1.34M13.57M37.62M19.14M10.82M1.47M
Total Liabilities9.88M13.24M175.03M292.84M307.63M335.78M304.47M
Total Debt+3.44M6.89M6.78M40.06M82.26M77.38M65.36M
Net Debt-7M-662K-587.34M-436.08M-304.28M-55.94M-90.96M
Debt / Equity0.30x0.67x0.01x0.04x0.07x0.07x0.06x
Debt / EBITDA20.81x-0.04x0.18x0.33x--
Net Debt / EBITDA-42.32x--3.64x-1.97x-1.22x--
Interest Coverage-3.55x-19.70x23.96x39.12x53.53x--
Total Equity+11.61M10.25M830.51M1.03B1.23B1.15B1.06B
Equity Growth %--0.12%80.01%0.24%0.2%-0.07%-0.08%
Book Value per Share0.080.043.163.223.923.983.59
Total Shareholders' Equity11.61M10.25M830.51M1.03B1.23B1.15B1.06B
Common Stock5.07M5.12M710.39M722.43M734.37M753.2M777.17M
Retained Earnings-2.5M-4.72M114.2M267.67M426.19M279.79M116.93M
Treasury Stock0000000
Accumulated OCI000280K-1.39M-1.72M-4.38M
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+3.56M2.69M22.69M244.58M277.36M-43.88M-108.56M
Operating CF Margin %0.4%0.23%0.1%0.65%0.57%-1.15%-3.76%
Operating CF Growth %--0.24%7.42%9.78%0.13%-1.16%-1.47%
Net Income309K-2.21M118.92M153.46M158.52M-146.4M-162.86M
Depreciation & Amortization918K1.85M5.27M17.25M33.1M30.89M97M
Stock-Based Compensation615K890K8.4M049.48M64.18M67.58M
Deferred Taxes002.1M-2.02M-2.11M1.96M0
Other Non-Cash Items-188K194K4.71M34.22M8.55M-7.74M-84.44M
Working Capital Changes1.91M1.97M-116.7M41.67M29.82M13.22M-25.84M
Change in Receivables-477K-1.8M-203.02M22.48M-22.71M-45.93M-75.12M
Change in Inventory-897.77K000018.25M0
Change in Payables180K150K6.6M1.4M1.07M-15.1M10.63M
Cash from Investing+-5.31M-5.78M-119.78M-332.25M-352.63M-221.11M121.41M
Capital Expenditures-5.31M-4M-9.67M-58.45M-72.66M-77.51M-78.4M
CapEx % of Revenue0.6%0.34%0.04%0.16%0.15%2.04%2.72%
Acquisitions-------
Investments-------
Other Investing0-1.78M-3.22M32.62M16.43M25.31M35.71M
Cash from Financing+12.19M195K683.65M-3.89M-1.63M10.36M12.77M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing37K25K1M-7.55M-4.38M-1.23M-729K
Net Change in Cash-------
Free Cash Flow+-1.74M-1.3M8.02M186.13M204.7M-121.38M-186.95M
FCF Margin %-0.2%-0.11%0.03%0.5%0.42%-3.19%-6.48%
FCF Growth %-0.25%7.15%22.22%0.1%-1.59%-0.54%
FCF per Share-0.01-0.010.030.580.65-0.42-0.64
FCF Conversion (FCF/Net Income)11.54x-1.22x0.19x1.59x1.75x0.30x0.67x
Interest Paid0000000
Taxes Paid0000000

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)2.66%-20.23%28.29%16.53%14.03%-12.27%-14.75%
Return on Invested Capital (ROIC)--43.5%92.6%36.82%21.39%-17.57%-22.9%
Gross Margin34.29%100%88.36%87.87%86.31%100%100%
Net Margin3.5%-19.04%51%40.9%32.66%-385%-564.83%
Debt / Equity0.30x0.67x0.01x0.04x0.07x0.07x0.06x
Interest Coverage-3.55x-19.70x23.96x39.12x53.53x--
FCF Conversion11.54x-1.22x0.19x1.59x1.75x0.30x0.67x
Revenue Growth-31.49%1907.88%60.92%29.38%-92.17%-24.17%

Revenue by Segment

2021202220232024
Research Fees19.08M40.8M35.56M26.28M
Research Fees Growth-113.89%-12.86%-26.08%
Milestone Payments8M900K1.5M1.5M
Milestone Payments Growth--88.75%66.67%0.00%
License20.78M696K969K1.05M
License Growth--96.65%39.22%8.26%
Royalty327.3M443M--
Royalty Growth-35.35%--

Revenue by Geography

2021202220232024
CANADA353.4M484.2M36M26.2M
CANADA Growth-37.01%-92.57%-27.22%
UNITED STATES21.8M1.2M2M2.7M
UNITED STATES Growth--94.50%66.67%35.00%

Frequently Asked Questions

Growth & Financials

AbCellera Biologics Inc. (ABCL) reported $35.3M in revenue for fiscal year 2024. This represents a 300% increase from $8.8M in 2018.

AbCellera Biologics Inc. (ABCL) saw revenue decline by 24.2% over the past year.

AbCellera Biologics Inc. (ABCL) reported a net loss of $171.7M for fiscal year 2024.

Dividend & Returns

AbCellera Biologics Inc. (ABCL) has a return on equity (ROE) of -14.7%. Negative ROE indicates the company is unprofitable.

AbCellera Biologics Inc. (ABCL) had negative free cash flow of $153.1M in fiscal year 2024, likely due to heavy capital investments.

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