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FATE logoFate Therapeutics, Inc.(FATE)Earnings, Financials & Key Ratios

FATE•NASDAQ
$2.29
$264M mkt cap·Price updated May 6, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryCell and Gene Therapy Developers
AboutFate Therapeutics, Inc., a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Its NK- and T-cell immuno-oncology programs under development include FT516 for the treatment of acute myeloid leukemia (AML) B-cell lymphoma, and advanced solid tumor; FT596 to treat B-cell lymphoma and chronic lymphocytic leukemia; FT538 to treat AML and multiple myeloma; FT576 to treat multiple myeloma; FT819 to treat hematologic malignancies and solid tumors; FT536 to treat solid tumors; and FT500 for the treatment of advanced solid tumors. The company has a collaboration and option agreement with Ono Pharmaceutical Co. Ltd. for the development and commercialization of two off-the-shelf iPSC-derived CAR T-cell product candidates; strategic research collaboration and license agreement with Juno Therapeutics, Inc. to screen for and identify small molecule modulators that enhance the therapeutic properties of genetically-engineered T-cell immunotherapies; and a collaboration and option agreement with Janssen Biotech, Inc. Fate Therapeutics, Inc. was incorporated in 2007 and is headquartered in San Diego, California.Show more
  • Revenue$7M-51.2%
  • EBITDA-$148M+22.8%
  • Net Income-$136M+26.8%
  • EPS (Diluted)-1.15+29.9%
  • EBITDA Margin-2222.45%-58.3%
  • Operating Margin-2222.45%-44.1%
  • Net Margin-2051.08%-50.1%
  • ROE-51.84%+4.4%
  • ROIC-36.54%+7.6%
  • Debt/Equity0.38+40.5%
Technical→

FATE Key Insights

Fate Therapeutics, Inc. (FATE) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Trading near 52-week high
  • ✓Trading at only 1.3x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Negative free cash flow
  • ✗Sales declining 26.7% over 5 years
  • ✗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.

FATE Price & Volume

Fate Therapeutics, Inc. (FATE) stock price & volume — 10-year historical chart

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FATE Growth Metrics

Fate Therapeutics, Inc. (FATE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years10.58%
5 Years-26.71%
3 Years-58.98%
TTM-51.24%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM26.82%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM29.88%

Return on Capital

10 Years-42.13%
5 Years-40.42%
3 Years-42.5%
Last Year-43.12%

FATE Recent Earnings

Fate Therapeutics, Inc. (FATE) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 10/12 qtrs (83%)●Beat Revenue 11/12 qtrs (92%)
Q1 2026Latest
Feb 26, 2026
EPS
$0.27
Est $0.27
+0.0%
Revenue
$1M
Est $1M
+2.4%
Q4 2025
Nov 13, 2025
EPS
$0.27
Est $0.29
+6.9%
Revenue
$2M
Est $1M
+45.3%
Q3 2025
Aug 12, 2025
EPS
$0.29
Est $0.35
+17.1%
Revenue
$2M
Est $1M
+66.0%
Q2 2025
May 13, 2025
EPS
$0.32
Est $0.39
+17.9%
Revenue
$2M
Est $1M
+37.5%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q1 2026LatestFeb 26, 2026
$0.27vs $0.27+0.0%
$1Mvs $1M+2.4%
Q4 2025Nov 13, 2025
$0.27vs $0.29+6.9%
$2Mvs $1M+45.3%
Q3 2025Aug 12, 2025
$0.29vs $0.35+17.1%
$2Mvs $1M+66.0%
Q2 2025May 13, 2025
$0.32vs $0.39+17.9%
$2Mvs $1M+37.5%
Based on last 12 quarters of dataView full earnings history →

FATE Peer Comparison

Fate Therapeutics, Inc. (FATE) competitors in Cell and Gene Therapy Developers — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
CRSP logoCRSPCRISPR Therapeutics AGDirect Competitor5.31B55.08-8.51-89.97%-138.57%-30.88%0.21
NTLA logoNTLAIntellia Therapeutics, Inc.Direct Competitor1.61B13.85-3.64-100%-61.47%0.14
BEAM logoBEAMBeam Therapeutics Inc.Direct Competitor3.32B32.33-39.92120.01%-57.24%-7.31%0.24
EDIT logoEDITEditas Medicine, Inc.Direct Competitor310.73M3.18-1.76-100%-5.23%0.66
SANA logoSANASana Biotechnology, Inc.Direct Competitor954.64M3.64-3.14-120.02%0.38
ALNY logoALNYAlnylam Pharmaceuticals, Inc.Product Competitor40.43B303.00130.0465.19%13.46%98.29%1.62
KYMR logoKYMRKymera Therapeutics, Inc.Product Competitor7.04B86.26-23.38-16.72%-6.12%-25.02%0.05
CELC logoCELCCelcuity Inc.Product Competitor6.03B139.44-49.27-179%0.85

Compare FATE vs Peers

Fate Therapeutics, Inc. (FATE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CRSP

Most directly comparable listed peer for FATE.

Scale Benchmark

vs JNJ

Larger-name benchmark to compare FATE against a more recognizable public peer.

Peer Set

Compare Top 5

vs CRSP, NTLA, BEAM, EDIT

FATE Income Statement

Fate Therapeutics, Inc. (FATE) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Sales/Revenue4.11M4.74M10.68M31.43M55.85M96.3M63.53M13.63M6.65M
Revenue Growth %-6.72%15.44%125.32%194.33%77.66%72.44%-34.03%-78.55%-51.24%
Cost of Goods Sold34.36M56.02M0125.62M5.85M13.76M157.19M00
COGS % of Revenue836.78%1181.94%-399.64%10.48%14.29%247.41%--
Gross Profit
-30.25M▲ 0%
-51.28M▼ 69.5%
10.68M▲ 120.8%
-94.19M▼ 981.9%
50M▲ 153.1%
82.54M▲ 65.1%
-93.65M▼ 213.5%
13.63M▲ 114.6%
0▼ 100.0%
Gross Margin %-736.78%-1081.94%100%-299.64%89.52%85.71%-147.41%100%-
Gross Profit Growth %-37.2%-69.52%120.83%-981.92%153.08%65.1%-213.46%114.55%-100%
Operating Expenses46.23M71.83M111.41M33.9M266.99M390.93M96.86M223.91M154.35M
OpEx % of Revenue1125.94%1515.44%1043.14%107.83%478.08%405.95%152.45%1642.63%2322.45%
Selling, General & Admin11.87M15.81M23.64M33.9M57.32M84.23M96.86M74.17M46.52M
SG&A % of Revenue289.16%333.5%221.32%107.83%102.64%87.47%152.45%544.12%699.99%
Research & Development34.36M56.02M87.77M125.62M215.52M320.45M172.6M135M107.83M
R&D % of Revenue836.78%1181.94%821.82%399.64%385.92%332.77%271.66%990.4%1622.46%
Other Operating Expenses000-125.62M-5.85M-13.76M-172.6M14.74M0
Operating Income
-42.13M▲ 0%
-67.09M▼ 59.3%
-100.73M▼ 50.1%
-128.09M▼ 27.2%
-216.99M▼ 69.4%
-308.39M▼ 42.1%
-190.51M▲ 38.2%
-210.28M▼ 10.4%
-147.7M▲ 29.8%
Operating Margin %-1025.94%-1415.44%-943.14%-407.47%-388.56%-320.23%-299.86%-1542.63%-2222.45%
Operating Income Growth %-31.79%-59.27%-50.13%-27.16%-69.41%-42.12%38.22%-10.37%29.76%
EBITDA-41.15M-65.89M-98.53M-125M-211.14M-294.63M-172.23M-191.31M-147.7M
EBITDA Margin %-1002.29%-1390.04%-922.6%-397.65%-378.08%-305.95%-271.09%-1403.52%-2222.45%
EBITDA Growth %-32.4%-60.1%-49.55%-26.86%-68.92%-39.54%41.54%-11.08%22.8%
D&A (Non-Cash Add-back)971K1.2M2.19M3.09M5.85M13.76M18.28M18.96M0
EBIT-41.68M-64.9M-96.4M-128.09M-216.99M-308.39M-190.51M-195.54M0
Net Interest Income-709K494K2.58M2.4M1.31M5.84M17.19M17.29M0
Interest Income559K2.19M4.33M2.4M1.31M5.84M17.19M17.29M11.05M
Interest Expense1.27M1.7M1.75M000000
Other Income/Expense-827K494K2.58M-45.3M4.84M26.66M29.58M24.01M11.39M
Pretax Income
-42.95M▲ 0%
-66.6M▼ 55.1%
-98.15M▼ 47.4%
-173.39M▼ 76.7%
-212.15M▼ 22.4%
-281.72M▼ 32.8%
-160.93M▲ 42.9%
-186.26M▼ 15.7%
-136.31M▲ 26.8%
Pretax Margin %-1046.08%-1405.02%-919%-551.59%-379.89%-292.55%-253.3%-1366.46%-2051.08%
Income Tax297K00000000
Effective Tax Rate %-0.69%0%0%0%0%0%0%0%0%
Net Income
-42.95M▲ 0%
-66.6M▼ 55.1%
-98.15M▼ 47.4%
-173.39M▼ 76.7%
-212.15M▼ 22.4%
-281.72M▼ 32.8%
-160.93M▲ 42.9%
-186.26M▼ 15.7%
-136.31M▲ 26.8%
Net Margin %-1046.08%-1405.02%-919%-551.59%-379.89%-292.55%-253.3%-1366.46%-2051.08%
Net Income Growth %-28.36%-55.05%-47.38%-76.66%-22.36%-32.79%42.88%-15.74%26.82%
Net Income (Continuing)-42.95M-66.6M-98.15M-173.39M-212.15M-281.72M-160.93M-186.26M-136.31M
Discontinued Operations000000000
Minority Interest000000000
EPS (Diluted)
-1.02▲ 0%
-1.19▼ 16.7%
-1.43▼ 20.2%
-2.10▼ 46.9%
-2.24▼ 6.7%
-2.91▼ 29.9%
-1.64▲ 43.6%
-1.64▲ 0.0%
-1.15▲ 29.9%
EPS Growth %2.86%-16.67%-20.17%-46.85%-6.67%-29.91%43.64%0%29.88%
EPS (Basic)-1.02-1.19-1.43-2.10-2.24-2.91-1.64-1.64-1.15
Diluted Shares Outstanding41.98M56.2M68.19M82.39M94.75M96.83M98.41M113.69M118.79M
Basic Shares Outstanding41.98M56.2M68.19M82.39M94.75M96.83M98.41M113.69M118.79M
Dividend Payout Ratio---------

FATE Balance Sheet

Fate Therapeutics, Inc. (FATE) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Total Current Assets102.6M205.2M227.09M494.32M633.41M502.07M331.54M291.91M208.7M
Cash & Short-Term Investments100.95M201.01M221.43M482.92M615.91M436.23M315.18M279.07M203.66M
Cash Only88.95M190.51M99.81M167.35M133.58M61.33M41.87M36.06M46.63M
Short-Term Investments12M10.49M121.61M315.57M482.33M374.89M273.31M243.01M157.03M
Accounts Receivable0500K05.51M8.68M38.48M1.83M3.54M916K
Days Sales Outstanding-38.5-64.0456.7145.8510.4994.7650.31
Inventory000000000
Days Inventory Outstanding---------
Other Current Assets1.65M05.66M5.89M027.37M900K9.3M4.13M
Total Non-Current Assets2.7M7.84M75.19M128.13M288.04M203.49M174.68M148.78M110.23M
Property, Plant & Equipment2.55M5.13M22.75M99.39M162.25M66.07M158.51M110.89M98.53M
Fixed Asset Turnover1.61x0.92x0.47x0.32x0.34x1.46x0.40x0.12x0.07x
Goodwill000000000
Intangible Assets000000000
Long-Term Investments122K2.19M39.44M28.73M100.66M4.94M980K27.66M1.47M
Other Non-Current Assets24K526K12.99M9K25.13M132.48M15.19M10.24M10.23M
Total Assets
105.29M▲ 0%
213.03M▲ 102.3%
302.27M▲ 41.9%
622.46M▲ 105.9%
921.46M▲ 48.0%
705.56M▼ 23.4%
506.22M▼ 28.3%
440.69M▼ 12.9%
318.94M▼ 27.6%
Asset Turnover0.04x0.02x0.04x0.05x0.06x0.14x0.13x0.03x0.02x
Asset Growth %10.78%102.33%41.89%105.92%48.04%-23.43%-28.25%-12.94%-27.63%
Total Current Liabilities11.05M27.26M27.81M85.56M81.28M114.05M39.09M38.52M36.07M
Accounts Payable1.68M4.21M5.82M6.28M8.61M8.27M4.72M9.37M2.66M
Days Payables Outstanding17.8327.4-18.26537.33219.2710.96--
Short-Term Debt02.44M03.35M00004.56M
Deferred Revenue (Current)2.1M7.59M2.79M21.14M21.48M42.23M0393K381K
Other Current Liabilities5.5M10.09M12.18M49.97M3.2M40.03M685K11.64M31.13M
Current Ratio9.29x7.53x8.17x5.78x7.79x4.40x8.48x7.58x5.79x
Quick Ratio9.29x7.53x8.17x5.78x7.79x4.40x8.48x7.58x5.79x
Cash Conversion Cycle---------
Total Non-Current Liabilities17.05M25.3M29.71M152.45M161.33M107.57M98.71M83.45M75.68M
Long-Term Debt14.81M12.45M00000073.29M
Capital Lease Obligations0025.23M93.94M109.24M103.71M97.36M77.85M0
Deferred Tax Liabilities000000000
Other Non-Current Liabilities1.52M5.35M702K12.48M24.97M3.86M1.35M5.6M2.4M
Total Liabilities28.1M52.56M57.52M238.01M242.62M221.62M137.8M121.97M111.75M
Total Debt14.81M14.88M26.93M97.3M114.82M109.34M103.54M85.27M77.85M
Net Debt-74.14M-175.63M-72.89M-70.05M-18.77M48.01M61.67M49.21M31.22M
Debt / Equity0.19x0.09x0.11x0.25x0.17x0.23x0.28x0.27x0.38x
Debt / EBITDA---------
Net Debt / EBITDA---------
Interest Coverage-33.22x-39.56x-57.49x------
Total Equity
77.19M▲ 0%
160.47M▲ 107.9%
244.76M▲ 52.5%
384.44M▲ 57.1%
678.84M▲ 76.6%
483.94M▼ 28.7%
368.42M▼ 23.9%
318.73M▼ 13.5%
207.18M▼ 35.0%
Equity Growth %5.52%107.89%52.53%57.07%76.58%-28.71%-23.87%-13.49%-35%
Book Value per Share1.842.863.594.677.165.003.742.801.74
Total Shareholders' Equity77.19M160.47M244.76M384.44M678.84M483.94M368.42M318.73M207.18M
Common Stock53K65K76K88K96K97K99K114K115K
Retained Earnings-218.8M-285.4M-383.55M-556.93M-769.08M-1.05B-1.21B-1.4B-1.53B
Treasury Stock000000000
Accumulated OCI-3K-2K22K70K-762K-1.85M15K268K116K
Minority Interest000000000

FATE Cash Flow Statement

Fate Therapeutics, Inc. (FATE) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-36.91M-38.65M-83.17M-39.23M-162.87M-248.21M-132.26M-122.87M-106.08M
Operating CF Margin %-898.81%-815.4%-778.79%-124.8%-291.64%-257.74%-208.18%-901.43%-1596.21%
Operating CF Growth %-23.75%-4.73%-115.2%52.84%-315.18%-52.4%46.71%7.1%13.66%
Net Income-42.95M-66.6M-98.15M-173.39M-212.15M-281.72M-160.93M-186.26M-136.31M
Depreciation & Amortization971K1.2M2.19M3.09M5.85M13.76M18.28M18.96M9.29M
Stock-Based Compensation3.61M6.29M17.41M30.75M54.36M78.73M43.46M41.5M24.92M
Deferred Taxes5K-335K-478K000000
Other Non-Cash Items-613K19.04M-7.79M113.09M-13.03M-24.27M-52.26M4.89M-3.99M
Working Capital Changes2.08M1.74M3.64M-12.77M2.1M-34.71M19.18M-1.96M0
Change in Receivables0-500K500K-5.51M-3.16M-29.8M36.65M-1.11M2.62M
Change in Inventory0-4.25M-4.28M000000
Change in Payables2.51M4.25M4.28M-1.55M014.25M-28.94M-1.66M-9.03M
Cash from Investing-10.2M-463K-157.45M-161.08M-324.02M166.75M112.67M12.22M111.17M
Capital Expenditures-1.73M-2.3M-7.39M-4.93M-50.7M-35.57M-6.15M-730K-5.95M
CapEx % of Revenue42.01%48.59%69.24%15.69%90.79%36.93%9.68%5.36%89.57%
Acquisitions00150.06M000000
Investments---------
Other Investing-8.47M1.84M-150.06M00000362K
Cash from Financing47.44M140.78M149.93M282.84M453.13M9.21M85K99.89M5.49M
Debt Issued (Net)4.15M0-15M000000
Equity Issued (Net)1000K1000K1000K1000K1000K1000K85K1000K0
Dividends Paid000000000
Share Repurchases000000000
Other Financing283K6.2M2.52M490K41.39M005.07M5.49M
Net Change in Cash
343K▲ 0%
101.67M▲ 29540.5%
-90.7M▼ 189.2%
67.53M▲ 174.5%
-33.76M▼ 150.0%
-72.25M▼ 114.0%
-19.46M▲ 73.1%
-5.81M▲ 70.1%
10.57M▲ 281.8%
Free Cash Flow
-38.63M▲ 0%
-40.95M▼ 6.0%
-90.57M▼ 121.2%
-44.16M▲ 51.2%
-213.57M▼ 383.6%
-283.77M▼ 32.9%
-138.42M▲ 51.2%
-123.6M▲ 10.7%
-112.04M▲ 9.4%
FCF Margin %-940.82%-863.99%-848.03%-140.49%-382.43%-294.68%-217.86%-906.79%-1685.78%
FCF Growth %-27.58%-6.01%-121.16%51.24%-383.63%-32.87%51.22%10.7%9.36%
FCF per Share-0.92-0.73-1.33-0.54-2.25-2.93-1.41-1.09-0.94
FCF Conversion (FCF/Net Income)0.86x0.58x0.85x0.23x0.77x0.88x0.82x0.66x0.78x
Interest Paid000000000
Taxes Paid000000000

FATE Key Ratios

Fate Therapeutics, Inc. (FATE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)-60.19%-57.14%-56.05%-48.44%-55.11%-39.9%-48.46%-37.76%-54.21%-51.84%
Return on Invested Capital (ROIC)--1037.56%--96.42%-39.51%-33.4%-38.81%-29.7%-39.52%-36.54%
Gross Margin-500.91%-736.78%-1081.94%100%-299.64%89.52%85.71%-147.41%100%-
Net Margin-760.15%-1046.08%-1405.02%-919%-551.59%-379.89%-292.55%-253.3%-1366.46%-2051.08%
Debt / Equity0.15x0.19x0.09x0.11x0.25x0.17x0.23x0.28x0.27x0.38x
Interest Coverage-19.53x-33.22x-39.56x-57.49x------
FCF Conversion0.89x0.86x0.58x0.85x0.23x0.77x0.88x0.82x0.66x0.78x
Revenue Growth81.08%-6.72%15.44%125.32%194.33%77.66%72.44%-34.03%-78.55%-51.24%

FATE SEC Filings & Documents

Fate Therapeutics, Inc. (FATE) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Feb 26, 2026·SEC

Material company update

Nov 13, 2025·SEC

Material company update

Oct 27, 2025·SEC

10-K Annual Reports

4
FY 2026

Feb 26, 2026·SEC

FY 2025

Mar 5, 2025·SEC

FY 2024

Feb 26, 2024·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 13, 2025·SEC

FY 2025

Aug 12, 2025·SEC

FY 2025

May 13, 2025·SEC

FATE Frequently Asked Questions

Fate Therapeutics, Inc. (FATE) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Fate Therapeutics, Inc. (FATE) reported $6.6M in revenue for fiscal year 2025. This represents a 468% increase from $1.2M in 2011.

Fate Therapeutics, Inc. (FATE) saw revenue decline by 51.2% over the past year.

Fate Therapeutics, Inc. (FATE) reported a net loss of $136.3M for fiscal year 2025.

Dividend & Returns

Fate Therapeutics, Inc. (FATE) has a return on equity (ROE) of -51.8%. Negative ROE indicates the company is unprofitable.

Fate Therapeutics, Inc. (FATE) had negative free cash flow of $87.5M in fiscal year 2025, likely due to heavy capital investments.

Explore More FATE

Fate Therapeutics, Inc. (FATE) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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