Maze Therapeutics, Inc. (MAZE) 10-Year Financial Performance & Capital Metrics

MAZE • • Industrial / General

HealthcareBiotechnologyMetabolic & Liver DiseasesNASH & Liver Diseases

AboutMaze Therapeutics, Inc., a clinical stage biopharmaceutical company, develops small molecule precision medicines for the treatment of renal, cardiovascular, related metabolic diseases, and obesity in the United States. Its lead programs includes MZE829, an oral small molecule inhibitor of apolipoprotein L1, which is in phase II clinical trial for the treatment of patients with APOL1 kidney disease; and MZE782, an oral small molecule inhibitor of the solute transporter SLC6A19, which is in phase I clinical trial for the treatment of chronic kidney disease. Maze Therapeutics, Inc. was formerly known as Modulus Therapeutics, Inc. and changed its name to Maze Therapeutics, Inc. in September 2018. The company was incorporated in 2017 and is based in South San Francisco, California.Show more

Revenue $168M
EBITDA $61M +164.5%
Net Income $52M +152.0%
EPS (Diluted) 0.08 +103.4%
Gross Margin 100%
EBITDA Margin 36.35%
Operating Margin 34.38%
Net Margin 31.18%
ROE 50.48% +128.0%
ROIC 150.91% +165.4%
Debt/Equity 0.14 -97.3%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓FCF machine: 44.7% free cash flow margin
✓Momentum leader: RS Rating 96 (top 4%)
✓High quality earnings: Operating CF exceeds net income
✓Healthy 5Y average net margin of 31.2%

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-

EPS CAGR

10Y-

5Y-

3Y-

TTM-

ROCE

10Y Avg-50.33%

5Y Avg-50.33%

3Y Avg-50.33%

Latest41.87%

Peer Comparison

NASH & Liver Diseases

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
MAZEMaze Therapeutics, Inc.	1.92B	39.81	511.70		31.18%	-33.24%	3.91%	0.14
GNFTGenfit S.A.	313.52M	6.27	209	134.56%	-14.12%	-31.42%	4.54%	0.90
GYREGyre Therapeutics, Inc.	741.77M	7.70	154	-6.78%	6.2%	4.84%		0.02
TVRDTvardi Therapeutics, Inc.	42.31M	4.51	-0.10	-65.96%	-317.54%	-63.46%
UNCYUnicycive Therapeutics, Inc.	134.75M	6.27	-1.12	-100%		-89.15%		0.10
GLTOGalecto, Inc.	38.32M	23.95	-1.29			-237.68%		0.00
IVAInventiva S.A.	1.17B	6.12	-1.73	-47.37%	-13.75%
AKBAAkebia Therapeutics, Inc.	355.59M	1.34	-4.06	-17.7%	-7.07%	-38.24%

Profit & Loss

	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	167.5M
Revenue Growth %	-	-	-
Cost of Goods Sold+	0	0	0
COGS % of Revenue	-	-	-
Gross Profit+	0	0	167.5M
Gross Margin %	-	-	1%
Gross Profit Growth %	-	-	-
Operating Expenses+	111.03M	98.55M	109.91M
OpEx % of Revenue	-	-	0.66%
Selling, General & Admin	22.83M	24.61M	26.42M
SG&A % of Revenue	-	-	0.16%
Research & Development	88.19M	73.94M	83.5M
R&D % of Revenue	-	-	0.5%
Other Operating Expenses	0	0	0
Operating Income+	-111.03M	-98.55M	57.59M
Operating Margin %	-	-	0.34%
Operating Income Growth %	-	0.11%	1.58%
EBITDA+	-107.21M	-94.46M	60.88M
EBITDA Margin %	-	-	0.36%
EBITDA Growth %	-	0.12%	1.64%
D&A (Non-Cash Add-back)	3.82M	4.09M	3.3M
EBIT	-111.03M	-98.55M	57.59M
Net Interest Income+	2.03M	1.97M	4.65M
Interest Income	2.03M	1.97M	4.65M
Interest Expense	0	0	0
Other Income/Expense	-3.91M	-1.86M	-4.18M
Pretax Income+	-114.94M	-100.42M	53.4M
Pretax Margin %	-	-	0.32%
Income Tax+	0	0	1.17M
Effective Tax Rate %	1%	1%	0.98%
Net Income+	-114.94M	-100.42M	52.23M
Net Margin %	-	-	0.31%
Net Income Growth %	-	0.13%	1.52%
Net Income (Continuing)	-114.94M	-100.42M	52.23M
Discontinued Operations	0	0	0
Minority Interest	0	0	0
EPS (Diluted)+	-2.63	-2.29	0.08
EPS Growth %	-	0.13%	1.03%
EPS (Basic)	-2.63	-2.29	0.08
Diluted Shares Outstanding	43.78M	43.78M	43.8M
Basic Shares Outstanding	43.78M	43.78M	43.8M
Dividend Payout Ratio	-	-	-

Balance Sheet

	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	106.15M	34.11M	201.67M
Cash & Short-Term Investments	99.92M	29.16M	196.81M
Cash Only	99.92M	29.16M	196.81M
Short-Term Investments	0	0	0
Accounts Receivable	0	0	0
Days Sales Outstanding	-	-	-
Inventory	0	0	0
Days Inventory Outstanding	-	-	-
Other Current Assets	6.23M	4.95M	4.86M
Total Non-Current Assets+	43.81M	37.39M	38.87M
Property, Plant & Equipment	41.23M	34.98M	29.92M
Fixed Asset Turnover	-	-	5.60x
Goodwill	0	0	0
Intangible Assets	0	0	0
Long-Term Investments	1.21M	1.09M	1.09M
Other Non-Current Assets	1.37M	1.32M	7.87M
Total Assets+	149.96M	71.5M	240.54M
Asset Turnover	-	-	0.70x
Asset Growth %	-	-0.52%	2.36%
Total Current Liabilities+	20.78M	16.32M	20.67M
Accounts Payable	1.58M	2.02M	1.94M
Days Payables Outstanding	-	-	-
Short-Term Debt	0	0	0
Deferred Revenue (Current)	0	0	0
Other Current Liabilities	7.49M	2.93M	6.02M
Current Ratio	5.11x	2.09x	9.76x
Quick Ratio	5.11x	2.09x	9.76x
Cash Conversion Cycle	-	-	-
Total Non-Current Liabilities+	27.73M	45.13M	22.96M
Long-Term Debt	0	20.08M	0
Capital Lease Obligations	27.73M	25.05M	22M
Deferred Tax Liabilities	0	0	0
Other Non-Current Liabilities	0	0	969K
Total Liabilities	48.51M	61.45M	43.64M
Total Debt+	32.05M	49.62M	26.63M
Net Debt	-67.86M	20.46M	-170.18M
Debt / Equity	0.32x	4.94x	0.14x
Debt / EBITDA	-	-	0.44x
Net Debt / EBITDA	-	-	-2.80x
Interest Coverage	-	-	-
Total Equity+	101.44M	10.05M	196.9M
Equity Growth %	-	-0.9%	18.58%
Book Value per Share	2.32	0.23	4.50
Total Shareholders' Equity	101.44M	10.05M	196.9M
Common Stock	21K	22K	2K
Retained Earnings	-295.27M	-395.69M	-358.43M
Treasury Stock	0	0	0
Accumulated OCI	0	0	0
Minority Interest	0	0	0

Cash Flow

	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-99.2M	-86.83M	75.95M
Operating CF Margin %	-	-	0.45%
Operating CF Growth %	-	0.12%	1.87%
Net Income	-114.94M	-100.42M	52.23M
Depreciation & Amortization	3.82M	4.09M	3.3M
Stock-Based Compensation	6.74M	8.75M	9.65M
Deferred Taxes	0	0	0
Other Non-Cash Items	8.42M	7.07M	12.3M
Working Capital Changes	-3.24M	-6.32M	-1.52M
Change in Receivables	0	0	0
Change in Inventory	0	0	0
Change in Payables	-3.78M	399K	-204K
Cash from Investing+	-3.17M	-441K	-1.15M
Capital Expenditures	-1.97M	-441K	-1.15M
CapEx % of Revenue	-	-	0.01%
Acquisitions	-	-	-
Investments	-	-	-
Other Investing	0	0	0
Cash from Financing+	1.73M	16.39M	92.85M
Debt Issued (Net)	-	-	-
Equity Issued (Net)	-	-	-
Dividends Paid	0	0	0
Share Repurchases	-	-	-
Other Financing	0	0	0
Net Change in Cash	-	-	-
Free Cash Flow+	-101.17M	-87.27M	74.81M
FCF Margin %	-	-	0.45%
FCF Growth %	-	0.14%	1.86%
FCF per Share	-2.31	-1.99	1.71
FCF Conversion (FCF/Net Income)	0.86x	0.86x	1.45x
Interest Paid	0	0	0
Taxes Paid	0	0	1.23M

Key Ratios

Metric	2022	2023	2024
Return on Equity (ROE)	-113.3%	-180.12%	50.48%
Return on Invested Capital (ROIC)	-	-230.63%	150.91%
Gross Margin	-	-	100%
Net Margin	-	-	31.18%
Debt / Equity	0.32x	4.94x	0.14x
FCF Conversion	0.86x	0.86x	1.45x

Frequently Asked Questions

Growth & Financials

Maze Therapeutics, Inc. (MAZE) reported $167.5M in revenue for fiscal year 2024.

Maze Therapeutics, Inc. (MAZE) grew revenue by 0.0% over the past year. Growth has been modest.

Maze Therapeutics, Inc. (MAZE) reported a net loss of $126.1M for fiscal year 2024.

Dividend & Returns

Maze Therapeutics, Inc. (MAZE) has a return on equity (ROE) of 50.5%. This is excellent, indicating efficient use of shareholder capital.

Maze Therapeutics, Inc. (MAZE) had negative free cash flow of $108.0M in fiscal year 2024, likely due to heavy capital investments.

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