Pacific Biosciences of California, Inc. (PACB) 10-Year Financial Performance & Capital Metrics

PACB • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems

AboutPacific Biosciences of California, Inc. designs, develops, and manufactures sequencing systems to resolve genetically complex problems. The company provides PacBio's Systems, which conduct, monitor, and analyse biochemical sequencing reactions; consumable products, including single molecule real-time (SMRT) cells; and various reagent kits designed for specific workflow, such as template preparation kit to convert DNA into SMRTbell double-stranded DNA library formats, including molecular biology reagents, such as ligase, buffers, and exonucleases. It also offers binding kits, such as modified DNA polymerase used to bind SMRTbell libraries to the polymerase in preparation for sequencing; and sequencing kits comprise reagents required for on-instrument, real-time sequencing, including the phospholinked nucleotides. The company serves research institutions; commercial laboratories; genome centers; public health labs, hospitals and clinical research institutes, contract research organizations, and academic institutions; pharmaceutical companies; and agricultural companies. It markets its products through a direct sales force in North America and Europe, as well as through distribution partners in Asia, Europe, the Middle East, Africa, and Latin America. Pacific Biosciences of California, Inc. has a development and commercialization agreement with Invitae Corporation. The company was formerly known as Nanofluidics, Inc. and changed its name to Pacific Biosciences of California, Inc. in 2005. Pacific Biosciences of California, Inc. was incorporated in 2000 and is headquartered in Menlo Park, California.Show more

Revenue $154M -23.2%
EBITDA -$421M -39.5%
Net Income -$310M -1.0%
EPS (Diluted) -1.07 +11.6%
Gross Margin 24.21% -8.0%
EBITDA Margin -273.33% -81.6%
Operating Margin -307.97% -84.6%
Net Margin -201.18% -31.5%
ROE -51.3% -5.7%
ROIC -27.59% -45.3%
Debt/Equity 1.33 -0.3%
Interest Coverage -35.36 -51.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 84 (top 16%)
✓Strong 5Y sales CAGR of 11.1%
✓Trading at only 1.3x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 13.7% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.78%

5Y11.12%

3Y5.67%

TTM-10.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-27.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM-16.6%

ROCE

10Y Avg-46.49%

5Y Avg-26.93%

3Y Avg-24.14%

Latest-33.34%

Peer Comparison

Medical Imaging Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRMDIRadimed Corporation	1.3B	102.57	68.38	11.71%	26.31%	21.54%	1.35%	0.00
BRKRBruker Corporation	7.52B	49.46	65.08	13.56%	-0.61%	-0.84%	1.81%	1.24
STESTERIS plc	26.33B	268.26	43.27	6.24%	12.07%	9.8%	2.95%	0.33
FONRFONAR Corporation	114.98M	18.64	15.15	1.43%	7.08%	4.62%	6.48%	0.24
HYPRHyperfine, Inc.	100.18M	1.22	-2.18	16.84%	-378.17%	-149.05%		0.01
PACBPacific Biosciences of California, Inc.	709.48M	2.35	-2.20	-23.19%	-325.8%	-13.95%		1.33
IRIXIRIDEX Corporation	23.21M	1.35	-2.50	-6.17%	-10.04%	-108.67%		2.21
MASS908 Devices Inc.	199.79M	5.52	-2.60	18.72%	-7.17%	-3.03%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	92.78M	90.71M	93.47M	78.63M	90.89M	78.89M	130.51M	128.3M	200.52M	154.01M
Revenue Growth %	0.53%	-0.02%	0.03%	-0.16%	0.16%	-0.13%	0.65%	-0.02%	0.56%	-0.23%
Cost of Goods Sold+	39.33M	46.55M	58.81M	53.53M	56.31M	46.33M	71.65M	79.27M	147.74M	116.73M
COGS % of Revenue	0.42%	0.51%	0.63%	0.68%	0.62%	0.59%	0.55%	0.62%	0.74%	0.76%
Gross Profit+	53.45M	44.16M	34.66M	25.1M	34.58M	32.57M	58.86M	49.03M	52.78M	37.28M
Gross Margin %	0.58%	0.49%	0.37%	0.32%	0.38%	0.41%	0.45%	0.38%	0.26%	0.24%
Gross Profit Growth %	1.28%	-0.17%	-0.22%	-0.28%	0.38%	-0.06%	0.81%	-0.17%	0.08%	-0.29%
Operating Expenses+	105.63M	115.4M	124.44M	126.08M	135.12M	136.95M	269.3M	356.23M	387.25M	511.6M
OpEx % of Revenue	1.14%	1.27%	1.33%	1.6%	1.49%	1.74%	2.06%	2.78%	1.93%	3.32%
Selling, General & Admin	45.19M	47.79M	59.12M	63.49M	75.49M	72.8M	124.12M	160.85M	169.82M	175.02M
SG&A % of Revenue	0.49%	0.53%	0.63%	0.81%	0.83%	0.92%	0.95%	1.25%	0.85%	1.14%
Research & Development	60.44M	67.62M	65.32M	62.59M	59.63M	64.15M	112.9M	193M	187.17M	134.92M
R&D % of Revenue	0.65%	0.75%	0.7%	0.8%	0.66%	0.81%	0.87%	1.5%	0.93%	0.88%
Other Operating Expenses	364K	103K	516K	848K	0	0	32.27M	2.38M	30.26M	201.66M
Operating Income+	-29.13M	-71.24M	-89.78M	-100.99M	-100.55M	-104.39M	-210.44M	-307.2M	-334.47M	-474.31M
Operating Margin %	-0.31%	-0.79%	-0.96%	-1.28%	-1.11%	-1.32%	-1.61%	-2.39%	-1.67%	-3.08%
Operating Income Growth %	0.54%	-1.45%	-0.26%	-0.12%	0%	-0.04%	-1.02%	-0.46%	-0.09%	-0.42%
EBITDA+	-25.46M	-67.37M	-81.34M	-93.77M	-90.6M	-95.08M	-198.85M	-289.88M	-301.78M	-420.96M
EBITDA Margin %	-0.27%	-0.74%	-0.87%	-1.19%	-1%	-1.21%	-1.52%	-2.26%	-1.5%	-2.73%
EBITDA Growth %	0.57%	-1.65%	-0.21%	-0.15%	0.03%	-0.05%	-1.09%	-0.46%	-0.04%	-0.39%
D&A (Non-Cash Add-back)	3.68M	3.88M	8.44M	7.21M	9.95M	9.3M	11.59M	17.32M	32.69M	53.35M
EBIT	-28.77M	-71.14M	-89.27M	-100.14M	-81.52M	29.67M	-262.34M	-299.56M	-303.82M	-296.12M
Net Interest Income+	-2.93M	-3.23M	-2.92M	-2.42M	-2.61M	-267K	-12.53M	-14.69M	-14.34M	-13.41M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	2.93M	3.23M	2.92M	2.42M	2.61M	267K	12.53M	14.69M	14.34M	13.41M
Other Income/Expense	-2.56M	-3.13M	-2.4M	-1.57M	16.41M	133.79M	-64.44M	-7.05M	16.31M	164.78M
Pretax Income+	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-274.87M	-314.25M	-318.16M	-309.54M
Pretax Margin %	-0.34%	-0.82%	-0.99%	-1.3%	-0.93%	0.37%	-2.11%	-2.45%	-1.59%	-2.01%
Income Tax+	0	0	0	848K	0	0	-93.65M	0	-11.42M	316K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.66%	1%	0.96%	1%
Net Income+	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Net Margin %	-0.34%	-0.82%	-0.99%	-1.3%	-0.93%	0.37%	-1.39%	-2.45%	-1.53%	-2.01%
Net Income Growth %	0.52%	-1.35%	-0.24%	-0.11%	0.18%	1.35%	-7.16%	-0.73%	0.02%	-0.01%
Net Income (Continuing)	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.42	-0.83	-0.87	-0.76	-0.51	0.17	-0.89	-1.40	-1.21	-1.07
EPS Growth %	0.55%	-0.98%	-0.05%	0.13%	0.33%	1.33%	-6.24%	-0.57%	0.14%	0.12%
EPS (Basic)	-0.42	-0.83	-0.87	-0.76	-0.51	0.18	-0.89	-1.40	-1.21	-1.13
Diluted Shares Outstanding	75.61M	89.15M	105.68M	135.09M	152.53M	174.97M	204.14M	224.55M	253.63M	288.37M
Basic Shares Outstanding	75.61M	89.15M	105.68M	134.95M	152.53M	165.19M	203.62M	224.55M	253.63M	274.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	110.54M	109.01M	101.62M	131.66M	81.05M	355.59M	1.1B	852.07M	742.05M	495.68M
Cash & Short-Term Investments	82.27M	71.98M	62.87M	102.35M	49.1M	318.81M	1.04B	772.32M	631.42M	389.93M
Cash Only	82.27M	16.77M	62.87M	18.84M	29.63M	81.61M	460.73M	325.09M	179.91M	55.37M
Short-Term Investments	0	55.21M	0	83.51M	19.47M	237.2M	583.67M	447.23M	451.5M	334.56M
Accounts Receivable	15.24M	16.42M	13.43M	8.6M	15.27M	16.84M	24.24M	18.79M	36.62M	27.52M
Days Sales Outstanding	59.97	66.07	52.46	39.9	61.31	77.9	67.79	53.44	66.65	65.23
Inventory	10.96M	15.63M	23.07M	17.88M	13.31M	14.23M	24.6M	50.38M	56.68M	58.76M
Days Inventory Outstanding	101.66	122.58	143.15	121.9	86.28	112.11	125.31	231.98	140.02	183.72
Other Current Assets	741K	476K	0	0	300K	836K	500K	300K	17.34M	19.47M
Total Non-Current Assets+	20.57M	28.87M	42.47M	38.62M	66.94M	58.39M	905.84M	915.01M	1B	764.77M
Property, Plant & Equipment	8.55M	14.56M	37.92M	34.07M	62.9M	54.85M	79.12M	81.34M	69.03M	46.6M
Fixed Asset Turnover	10.85x	6.23x	2.46x	2.31x	1.45x	1.44x	1.65x	1.58x	2.91x	3.31x
Goodwill	0	0	0	0	0	0	409.97M	409.97M	462.26M	317.76M
Intangible Assets	0	0	0	0	0	0	410.98M	410.25M	456.98M	389.57M
Long-Term Investments	9.5M	4.5M	4.5M	4.5M	0	0	0	0	0	0
Other Non-Current Assets	2.52M	9.81M	45K	43K	4.04M	3.54M	5.76M	13.45M	15.7M	10.84M
Total Assets+	131.11M	137.88M	144.08M	170.28M	147.99M	413.98M	2.01B	1.77B	1.75B	1.26B
Asset Turnover	0.71x	0.66x	0.65x	0.46x	0.61x	0.19x	0.07x	0.07x	0.11x	0.12x
Asset Growth %	0.05%	0.05%	0.04%	0.18%	-0.13%	1.8%	3.85%	-0.12%	-0.01%	-0.28%
Total Current Liabilities+	21.93M	33.77M	22.32M	20.35M	49.15M	38.5M	71.71M	263.33M	95.03M	66.3M
Accounts Payable	4.75M	8.36M	9.09M	6.74M	8.37M	3.58M	11M	12.03M	15.06M	16.59M
Days Payables Outstanding	44.07	65.54	56.44	45.93	54.24	28.2	56.04	55.38	37.21	51.87
Short-Term Debt	0	0	0	0	15.87M	0	1.61M	1.84M	490K	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.66M	9.72M	5.65M	5.09M	225K	4.52M	4.15M	175.5M	7.84M	3.22M
Current Ratio	5.04x	3.23x	4.55x	6.47x	1.65x	9.24x	15.36x	3.24x	7.81x	7.48x
Quick Ratio	4.54x	2.76x	3.52x	5.59x	1.38x	8.87x	15.01x	3.04x	7.21x	6.59x
Cash Conversion Cycle	117.56	123.11	139.17	115.87	93.35	161.81	137.06	230.04	169.46	197.07
Total Non-Current Liabilities+	35.64M	19.44M	35.66M	35.87M	43.91M	39.99M	1.14B	940.85M	949.68M	687.55M
Long-Term Debt	14.95M	16.11M	13.63M	14.66M	0	0	896.07M	896.68M	892.24M	647.49M
Capital Lease Obligations	0	0	0	0	41.96M	37.67M	49.97M	41.07M	31.61M	14.91M
Deferred Tax Liabilities	-786K	356K	0	0	0	0	-25.05M	0	0	0
Other Non-Current Liabilities	4.44M	2.04M	14.64M	13.78M	0	752K	198.24M	1.3M	20.3M	19.25M
Total Liabilities	57.57M	53.22M	57.98M	56.21M	93.07M	78.49M	1.22B	1.2B	1.04B	753.85M
Total Debt+	14.95M	16.11M	13.63M	14.66M	61.67M	42M	955.36M	948.48M	933.93M	672.43M
Net Debt	-67.32M	-659K	-49.24M	-4.18M	32.05M	-39.61M	494.63M	623.39M	754.02M	617.06M
Debt / Equity	0.20x	0.19x	0.16x	0.13x	1.12x	0.13x	1.21x	1.68x	1.33x	1.33x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-9.96x	-22.03x	-30.74x	-41.68x	-38.51x	-390.96x	-16.79x	-20.91x	-23.32x	-35.36x
Total Equity+	73.54M	84.67M	86.1M	114.06M	54.92M	335.49M	790.99M	562.9M	701.3M	506.59M
Equity Growth %	0.34%	0.15%	0.02%	0.32%	-0.52%	5.11%	1.36%	-0.29%	0.25%	-0.28%
Book Value per Share	0.97	0.95	0.81	0.84	0.36	1.92	3.87	2.51	2.77	1.76
Total Shareholders' Equity	73.54M	84.67M	86.1M	114.06M	54.92M	335.49M	790.99M	562.9M	701.3M	506.59M
Common Stock	80K	93K	116K	150K	153K	192K	221K	227K	268K	294K
Retained Earnings	-713.17M	-787.54M	-879.73M	-982.11M	-1.07B	-1.04B	-1.22B	-1.53B	-1.84B	-2.15B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7K	5K	-32K	-36K	5K	85K	-1.09M	-4.76M	219K	422K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-47.89M	-67.93M	-67.52M	-66.43M	-78.31M	19.5M	-111.18M	-263.21M	-266.55M	-206.06M
Operating CF Margin %	-0.52%	-0.75%	-0.72%	-0.84%	-0.86%	0.25%	-0.85%	-2.05%	-1.33%	-1.34%
Operating CF Growth %	0.07%	-0.42%	0.01%	0.02%	-0.18%	1.25%	-6.7%	-1.37%	-0.01%	0.23%
Net Income	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Depreciation & Amortization	3.68M	3.88M	8.44M	7.21M	9.95M	9.3M	11.59M	17.32M	32.69M	53.34M
Stock-Based Compensation	13.84M	19.56M	20.35M	23.15M	16.4M	17.53M	80.73M	78.61M	0	0
Deferred Taxes	0	0	653K	-925K	-735K	-107K	-93.65M	0	-11.42M	-205K
Other Non-Cash Items	-2.32M	1.01M	1.25M	1.02M	-16.79M	-33.87M	50.37M	9.08M	77.88M	91.24M
Working Capital Changes	-31.39M	-18M	-6.03M	5.67M	-3M	-2.76M	21M	-53.97M	-58.96M	-40.58M
Change in Receivables	-1.74M	-6.18M	-2.01M	4.84M	-6.67M	-1.6M	-7.17M	5.46M	-17.83M	9.09M
Change in Inventory	-2.47M	-6.15M	-8.44M	3.62M	3.92M	-1.1M	-12.43M	-33.91M	-13.84M	-8.32M
Change in Payables	-716K	3.4M	764K	-2.24M	1.71M	-5.07M	6.36M	1.02M	206K	1.41M
Cash from Investing+	8.61M	-14.86M	-1.55M	-38.41M	62.05M	-219.32M	-678.53M	116.08M	4.6M	124M
Capital Expenditures	-3.01M	-8.21M	-10.43M	-1.85M	-2.84M	-1.04M	-5.93M	-16.93M	-8.84M	-6.19M
CapEx % of Revenue	0.03%	0.09%	0.11%	0.02%	0.03%	0.01%	0.05%	0.13%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.5M	10K	41K	-36.56M	64.88M	0	0	-179K	0	0
Cash from Financing+	36.46M	65.93M	68.81M	107.18M	26.55M	251.84M	1.17B	9.62M	116.27M	-42.99M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	7.36M	7.73M	8.91M	9.65M	18M	80.36M	-20.44M	0	-86.41M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-50.9M	-76.14M	-77.95M	-68.28M	-81.15M	18.46M	-117.11M	-280.14M	-275.39M	-212.25M
FCF Margin %	-0.55%	-0.84%	-0.83%	-0.87%	-0.89%	0.23%	-0.9%	-2.18%	-1.37%	-1.38%
FCF Growth %	0.04%	-0.5%	-0.02%	0.12%	-0.19%	1.23%	-7.34%	-1.39%	0.02%	0.23%
FCF per Share	-0.67	-0.85	-0.74	-0.51	-0.53	0.11	-0.57	-1.25	-1.09	-0.74
FCF Conversion (FCF/Net Income)	1.51x	0.91x	0.73x	0.65x	0.93x	0.66x	0.61x	0.84x	0.87x	0.67x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-49.34%	-94.02%	-107.97%	-102.48%	-99.58%	15.06%	-32.18%	-46.42%	-48.53%	-51.3%
Return on Invested Capital (ROIC)	-112.51%	-118.44%	-111.42%	-103.23%	-76.62%	-40.9%	-19.96%	-18.64%	-18.99%	-27.59%
Gross Margin	57.61%	48.68%	37.08%	31.92%	38.04%	41.28%	45.1%	38.22%	26.32%	24.21%
Net Margin	-34.16%	-81.99%	-98.63%	-130.44%	-92.57%	37.27%	-138.85%	-244.92%	-152.97%	-201.18%
Debt / Equity	0.20x	0.19x	0.16x	0.13x	1.12x	0.13x	1.21x	1.68x	1.33x	1.33x
Interest Coverage	-9.96x	-22.03x	-30.74x	-41.68x	-38.51x	-390.96x	-16.79x	-20.91x	-23.32x	-35.36x
FCF Conversion	1.51x	0.91x	0.73x	0.65x	0.93x	0.66x	0.61x	0.84x	0.87x	0.67x
Revenue Growth	53.12%	-2.23%	3.04%	-15.88%	15.6%	-13.2%	65.43%	-1.69%	56.29%	-23.19%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2024
Product	-	-	-	-	66.36M	77.74M	65.42M	113.5M	108.7M	136.15M
Product Growth	-	-	-	-	-	17.16%	-15.84%	73.49%	-4.23%	25.25%
Consumable	-	-	-	-	37.86M	32.62M	31.14M	52.18M	59.98M	70.37M
Consumable Growth	-	-	-	-	-	-13.86%	-4.52%	67.56%	14.95%	17.33%
Instrument	-	-	-	-	28.49M	45.13M	34.28M	61.32M	48.72M	65.78M
Instrument Growth	-	-	-	-	-	58.38%	-24.03%	78.88%	-20.55%	35.01%
Service And Other	-	-	-	-	12.27M	13.15M	13.47M	17.01M	19.61M	17.86M
Service And Other Growth	-	-	-	-	-	7.16%	2.43%	26.28%	15.27%	-8.88%

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2024
Americas	-	-	-	-	-	-	-	-	-	78.71M
Americas Growth	-	-	-	-	-	-	-	-	-	-
UNITED STATES	-	-	-	-	-	-	-	-	-	75.3M
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
Asia Pacific	-	-	-	39.7M	29.07M	26.61M	22.55M	35.72M	36.15M	40.71M
Asia Pacific Growth	-	-	-	-	-26.78%	-8.46%	-15.25%	58.40%	1.19%	12.63%
EMEA	-	-	-	-	-	-	-	-	-	34.59M
EMEA Growth	-	-	-	-	-	-	-	-	-	-
North America	-	68.8M	50.8M	40.6M	35.6M	44.68M	37.28M	64.52M	69.56M	-
North America Growth	-	-	-26.16%	-20.08%	-12.32%	25.52%	-16.57%	73.09%	7.81%	-
Europe	10.1M	9M	20M	13.2M	13.96M	19.6M	19.07M	30.27M	22.6M	-
Europe Growth	-	-10.89%	122.22%	-34.00%	5.74%	40.42%	-2.73%	58.78%	-25.35%	-
Asia	15.7M	15M	19.9M	-	-	-	-	-	-	-
Asia Growth	-	-4.46%	32.67%	-	-	-	-	-	-	-
U	34.8M	-	-	-	-	-	-	-	-	-
U Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Pacific Biosciences of California, Inc. (PACB) reported $154.6M in revenue for fiscal year 2024. This represents a 356% increase from $33.9M in 2011.

Pacific Biosciences of California, Inc. (PACB) saw revenue decline by 23.2% over the past year.

Pacific Biosciences of California, Inc. (PACB) reported a net loss of $503.6M for fiscal year 2024.

Dividend & Returns

Pacific Biosciences of California, Inc. (PACB) has a return on equity (ROE) of -51.3%. Negative ROE indicates the company is unprofitable.

Pacific Biosciences of California, Inc. (PACB) had negative free cash flow of $131.3M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Pacific Biosciences of California, Inc. (PACB) 10-Year Financial Performance & Capital Metrics

PACB • • Industrial / General

HealthcareMedical DevicesDiagnostic & Imaging EquipmentMedical Imaging Systems

Revenue $154M -23.2%
EBITDA -$421M -39.5%
Net Income -$310M -1.0%
EPS (Diluted) -1.07 +11.6%
Gross Margin 24.21% -8.0%
EBITDA Margin -273.33% -81.6%
Operating Margin -307.97% -84.6%
Net Margin -201.18% -31.5%
ROE -51.3% -5.7%
ROIC -27.59% -45.3%
Debt/Equity 1.33 -0.3%
Interest Coverage -35.36 -51.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 84 (top 16%)
✓Strong 5Y sales CAGR of 11.1%
✓Trading at only 1.3x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Shares diluted 13.7% in last year
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y9.78%

5Y11.12%

3Y5.67%

TTM-10.72%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-27.75%

EPS CAGR

10Y-

5Y-

3Y-

TTM-16.6%

ROCE

10Y Avg-46.49%

5Y Avg-26.93%

3Y Avg-24.14%

Latest-33.34%

Peer Comparison

Medical Imaging Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
IRMDIRadimed Corporation	1.3B	102.57	68.38	11.71%	26.31%	21.54%	1.35%	0.00
BRKRBruker Corporation	7.52B	49.46	65.08	13.56%	-0.61%	-0.84%	1.81%	1.24
STESTERIS plc	26.33B	268.26	43.27	6.24%	12.07%	9.8%	2.95%	0.33
FONRFONAR Corporation	114.98M	18.64	15.15	1.43%	7.08%	4.62%	6.48%	0.24
HYPRHyperfine, Inc.	100.18M	1.22	-2.18	16.84%	-378.17%	-149.05%		0.01
PACBPacific Biosciences of California, Inc.	709.48M	2.35	-2.20	-23.19%	-325.8%	-13.95%		1.33
IRIXIRIDEX Corporation	23.21M	1.35	-2.50	-6.17%	-10.04%	-108.67%		2.21
MASS908 Devices Inc.	199.79M	5.52	-2.60	18.72%	-7.17%	-3.03%		0.06

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	92.78M	90.71M	93.47M	78.63M	90.89M	78.89M	130.51M	128.3M	200.52M	154.01M
Revenue Growth %	0.53%	-0.02%	0.03%	-0.16%	0.16%	-0.13%	0.65%	-0.02%	0.56%	-0.23%
Cost of Goods Sold+	39.33M	46.55M	58.81M	53.53M	56.31M	46.33M	71.65M	79.27M	147.74M	116.73M
COGS % of Revenue	0.42%	0.51%	0.63%	0.68%	0.62%	0.59%	0.55%	0.62%	0.74%	0.76%
Gross Profit+	53.45M	44.16M	34.66M	25.1M	34.58M	32.57M	58.86M	49.03M	52.78M	37.28M
Gross Margin %	0.58%	0.49%	0.37%	0.32%	0.38%	0.41%	0.45%	0.38%	0.26%	0.24%
Gross Profit Growth %	1.28%	-0.17%	-0.22%	-0.28%	0.38%	-0.06%	0.81%	-0.17%	0.08%	-0.29%
Operating Expenses+	105.63M	115.4M	124.44M	126.08M	135.12M	136.95M	269.3M	356.23M	387.25M	511.6M
OpEx % of Revenue	1.14%	1.27%	1.33%	1.6%	1.49%	1.74%	2.06%	2.78%	1.93%	3.32%
Selling, General & Admin	45.19M	47.79M	59.12M	63.49M	75.49M	72.8M	124.12M	160.85M	169.82M	175.02M
SG&A % of Revenue	0.49%	0.53%	0.63%	0.81%	0.83%	0.92%	0.95%	1.25%	0.85%	1.14%
Research & Development	60.44M	67.62M	65.32M	62.59M	59.63M	64.15M	112.9M	193M	187.17M	134.92M
R&D % of Revenue	0.65%	0.75%	0.7%	0.8%	0.66%	0.81%	0.87%	1.5%	0.93%	0.88%
Other Operating Expenses	364K	103K	516K	848K	0	0	32.27M	2.38M	30.26M	201.66M
Operating Income+	-29.13M	-71.24M	-89.78M	-100.99M	-100.55M	-104.39M	-210.44M	-307.2M	-334.47M	-474.31M
Operating Margin %	-0.31%	-0.79%	-0.96%	-1.28%	-1.11%	-1.32%	-1.61%	-2.39%	-1.67%	-3.08%
Operating Income Growth %	0.54%	-1.45%	-0.26%	-0.12%	0%	-0.04%	-1.02%	-0.46%	-0.09%	-0.42%
EBITDA+	-25.46M	-67.37M	-81.34M	-93.77M	-90.6M	-95.08M	-198.85M	-289.88M	-301.78M	-420.96M
EBITDA Margin %	-0.27%	-0.74%	-0.87%	-1.19%	-1%	-1.21%	-1.52%	-2.26%	-1.5%	-2.73%
EBITDA Growth %	0.57%	-1.65%	-0.21%	-0.15%	0.03%	-0.05%	-1.09%	-0.46%	-0.04%	-0.39%
D&A (Non-Cash Add-back)	3.68M	3.88M	8.44M	7.21M	9.95M	9.3M	11.59M	17.32M	32.69M	53.35M
EBIT	-28.77M	-71.14M	-89.27M	-100.14M	-81.52M	29.67M	-262.34M	-299.56M	-303.82M	-296.12M
Net Interest Income+	-2.93M	-3.23M	-2.92M	-2.42M	-2.61M	-267K	-12.53M	-14.69M	-14.34M	-13.41M
Interest Income	0	0	0	0	0	0	0	0	0	0
Interest Expense	2.93M	3.23M	2.92M	2.42M	2.61M	267K	12.53M	14.69M	14.34M	13.41M
Other Income/Expense	-2.56M	-3.13M	-2.4M	-1.57M	16.41M	133.79M	-64.44M	-7.05M	16.31M	164.78M
Pretax Income+	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-274.87M	-314.25M	-318.16M	-309.54M
Pretax Margin %	-0.34%	-0.82%	-0.99%	-1.3%	-0.93%	0.37%	-2.11%	-2.45%	-1.59%	-2.01%
Income Tax+	0	0	0	848K	0	0	-93.65M	0	-11.42M	316K
Effective Tax Rate %	1%	1%	1%	1%	1%	1%	0.66%	1%	0.96%	1%
Net Income+	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Net Margin %	-0.34%	-0.82%	-0.99%	-1.3%	-0.93%	0.37%	-1.39%	-2.45%	-1.53%	-2.01%
Net Income Growth %	0.52%	-1.35%	-0.24%	-0.11%	0.18%	1.35%	-7.16%	-0.73%	0.02%	-0.01%
Net Income (Continuing)	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.42	-0.83	-0.87	-0.76	-0.51	0.17	-0.89	-1.40	-1.21	-1.07
EPS Growth %	0.55%	-0.98%	-0.05%	0.13%	0.33%	1.33%	-6.24%	-0.57%	0.14%	0.12%
EPS (Basic)	-0.42	-0.83	-0.87	-0.76	-0.51	0.18	-0.89	-1.40	-1.21	-1.13
Diluted Shares Outstanding	75.61M	89.15M	105.68M	135.09M	152.53M	174.97M	204.14M	224.55M	253.63M	288.37M
Basic Shares Outstanding	75.61M	89.15M	105.68M	134.95M	152.53M	165.19M	203.62M	224.55M	253.63M	274.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	110.54M	109.01M	101.62M	131.66M	81.05M	355.59M	1.1B	852.07M	742.05M	495.68M
Cash & Short-Term Investments	82.27M	71.98M	62.87M	102.35M	49.1M	318.81M	1.04B	772.32M	631.42M	389.93M
Cash Only	82.27M	16.77M	62.87M	18.84M	29.63M	81.61M	460.73M	325.09M	179.91M	55.37M
Short-Term Investments	0	55.21M	0	83.51M	19.47M	237.2M	583.67M	447.23M	451.5M	334.56M
Accounts Receivable	15.24M	16.42M	13.43M	8.6M	15.27M	16.84M	24.24M	18.79M	36.62M	27.52M
Days Sales Outstanding	59.97	66.07	52.46	39.9	61.31	77.9	67.79	53.44	66.65	65.23
Inventory	10.96M	15.63M	23.07M	17.88M	13.31M	14.23M	24.6M	50.38M	56.68M	58.76M
Days Inventory Outstanding	101.66	122.58	143.15	121.9	86.28	112.11	125.31	231.98	140.02	183.72
Other Current Assets	741K	476K	0	0	300K	836K	500K	300K	17.34M	19.47M
Total Non-Current Assets+	20.57M	28.87M	42.47M	38.62M	66.94M	58.39M	905.84M	915.01M	1B	764.77M
Property, Plant & Equipment	8.55M	14.56M	37.92M	34.07M	62.9M	54.85M	79.12M	81.34M	69.03M	46.6M
Fixed Asset Turnover	10.85x	6.23x	2.46x	2.31x	1.45x	1.44x	1.65x	1.58x	2.91x	3.31x
Goodwill	0	0	0	0	0	0	409.97M	409.97M	462.26M	317.76M
Intangible Assets	0	0	0	0	0	0	410.98M	410.25M	456.98M	389.57M
Long-Term Investments	9.5M	4.5M	4.5M	4.5M	0	0	0	0	0	0
Other Non-Current Assets	2.52M	9.81M	45K	43K	4.04M	3.54M	5.76M	13.45M	15.7M	10.84M
Total Assets+	131.11M	137.88M	144.08M	170.28M	147.99M	413.98M	2.01B	1.77B	1.75B	1.26B
Asset Turnover	0.71x	0.66x	0.65x	0.46x	0.61x	0.19x	0.07x	0.07x	0.11x	0.12x
Asset Growth %	0.05%	0.05%	0.04%	0.18%	-0.13%	1.8%	3.85%	-0.12%	-0.01%	-0.28%
Total Current Liabilities+	21.93M	33.77M	22.32M	20.35M	49.15M	38.5M	71.71M	263.33M	95.03M	66.3M
Accounts Payable	4.75M	8.36M	9.09M	6.74M	8.37M	3.58M	11M	12.03M	15.06M	16.59M
Days Payables Outstanding	44.07	65.54	56.44	45.93	54.24	28.2	56.04	55.38	37.21	51.87
Short-Term Debt	0	0	0	0	15.87M	0	1.61M	1.84M	490K	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	7.66M	9.72M	5.65M	5.09M	225K	4.52M	4.15M	175.5M	7.84M	3.22M
Current Ratio	5.04x	3.23x	4.55x	6.47x	1.65x	9.24x	15.36x	3.24x	7.81x	7.48x
Quick Ratio	4.54x	2.76x	3.52x	5.59x	1.38x	8.87x	15.01x	3.04x	7.21x	6.59x
Cash Conversion Cycle	117.56	123.11	139.17	115.87	93.35	161.81	137.06	230.04	169.46	197.07
Total Non-Current Liabilities+	35.64M	19.44M	35.66M	35.87M	43.91M	39.99M	1.14B	940.85M	949.68M	687.55M
Long-Term Debt	14.95M	16.11M	13.63M	14.66M	0	0	896.07M	896.68M	892.24M	647.49M
Capital Lease Obligations	0	0	0	0	41.96M	37.67M	49.97M	41.07M	31.61M	14.91M
Deferred Tax Liabilities	-786K	356K	0	0	0	0	-25.05M	0	0	0
Other Non-Current Liabilities	4.44M	2.04M	14.64M	13.78M	0	752K	198.24M	1.3M	20.3M	19.25M
Total Liabilities	57.57M	53.22M	57.98M	56.21M	93.07M	78.49M	1.22B	1.2B	1.04B	753.85M
Total Debt+	14.95M	16.11M	13.63M	14.66M	61.67M	42M	955.36M	948.48M	933.93M	672.43M
Net Debt	-67.32M	-659K	-49.24M	-4.18M	32.05M	-39.61M	494.63M	623.39M	754.02M	617.06M
Debt / Equity	0.20x	0.19x	0.16x	0.13x	1.12x	0.13x	1.21x	1.68x	1.33x	1.33x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-9.96x	-22.03x	-30.74x	-41.68x	-38.51x	-390.96x	-16.79x	-20.91x	-23.32x	-35.36x
Total Equity+	73.54M	84.67M	86.1M	114.06M	54.92M	335.49M	790.99M	562.9M	701.3M	506.59M
Equity Growth %	0.34%	0.15%	0.02%	0.32%	-0.52%	5.11%	1.36%	-0.29%	0.25%	-0.28%
Book Value per Share	0.97	0.95	0.81	0.84	0.36	1.92	3.87	2.51	2.77	1.76
Total Shareholders' Equity	73.54M	84.67M	86.1M	114.06M	54.92M	335.49M	790.99M	562.9M	701.3M	506.59M
Common Stock	80K	93K	116K	150K	153K	192K	221K	227K	268K	294K
Retained Earnings	-713.17M	-787.54M	-879.73M	-982.11M	-1.07B	-1.04B	-1.22B	-1.53B	-1.84B	-2.15B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	-7K	5K	-32K	-36K	5K	85K	-1.09M	-4.76M	219K	422K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-47.89M	-67.93M	-67.52M	-66.43M	-78.31M	19.5M	-111.18M	-263.21M	-266.55M	-206.06M
Operating CF Margin %	-0.52%	-0.75%	-0.72%	-0.84%	-0.86%	0.25%	-0.85%	-2.05%	-1.33%	-1.34%
Operating CF Growth %	0.07%	-0.42%	0.01%	0.02%	-0.18%	1.25%	-6.7%	-1.37%	-0.01%	0.23%
Net Income	-31.7M	-74.38M	-92.19M	-102.56M	-84.13M	29.4M	-181.22M	-314.25M	-306.74M	-309.85M
Depreciation & Amortization	3.68M	3.88M	8.44M	7.21M	9.95M	9.3M	11.59M	17.32M	32.69M	53.34M
Stock-Based Compensation	13.84M	19.56M	20.35M	23.15M	16.4M	17.53M	80.73M	78.61M	0	0
Deferred Taxes	0	0	653K	-925K	-735K	-107K	-93.65M	0	-11.42M	-205K
Other Non-Cash Items	-2.32M	1.01M	1.25M	1.02M	-16.79M	-33.87M	50.37M	9.08M	77.88M	91.24M
Working Capital Changes	-31.39M	-18M	-6.03M	5.67M	-3M	-2.76M	21M	-53.97M	-58.96M	-40.58M
Change in Receivables	-1.74M	-6.18M	-2.01M	4.84M	-6.67M	-1.6M	-7.17M	5.46M	-17.83M	9.09M
Change in Inventory	-2.47M	-6.15M	-8.44M	3.62M	3.92M	-1.1M	-12.43M	-33.91M	-13.84M	-8.32M
Change in Payables	-716K	3.4M	764K	-2.24M	1.71M	-5.07M	6.36M	1.02M	206K	1.41M
Cash from Investing+	8.61M	-14.86M	-1.55M	-38.41M	62.05M	-219.32M	-678.53M	116.08M	4.6M	124M
Capital Expenditures	-3.01M	-8.21M	-10.43M	-1.85M	-2.84M	-1.04M	-5.93M	-16.93M	-8.84M	-6.19M
CapEx % of Revenue	0.03%	0.09%	0.11%	0.02%	0.03%	0.01%	0.05%	0.13%	0.04%	0.04%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-4.5M	10K	41K	-36.56M	64.88M	0	0	-179K	0	0
Cash from Financing+	36.46M	65.93M	68.81M	107.18M	26.55M	251.84M	1.17B	9.62M	116.27M	-42.99M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	7.36M	7.73M	8.91M	9.65M	18M	80.36M	-20.44M	0	-86.41M	0
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-50.9M	-76.14M	-77.95M	-68.28M	-81.15M	18.46M	-117.11M	-280.14M	-275.39M	-212.25M
FCF Margin %	-0.55%	-0.84%	-0.83%	-0.87%	-0.89%	0.23%	-0.9%	-2.18%	-1.37%	-1.38%
FCF Growth %	0.04%	-0.5%	-0.02%	0.12%	-0.19%	1.23%	-7.34%	-1.39%	0.02%	0.23%
FCF per Share	-0.67	-0.85	-0.74	-0.51	-0.53	0.11	-0.57	-1.25	-1.09	-0.74
FCF Conversion (FCF/Net Income)	1.51x	0.91x	0.73x	0.65x	0.93x	0.66x	0.61x	0.84x	0.87x	0.67x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-49.34%	-94.02%	-107.97%	-102.48%	-99.58%	15.06%	-32.18%	-46.42%	-48.53%	-51.3%
Return on Invested Capital (ROIC)	-112.51%	-118.44%	-111.42%	-103.23%	-76.62%	-40.9%	-19.96%	-18.64%	-18.99%	-27.59%
Gross Margin	57.61%	48.68%	37.08%	31.92%	38.04%	41.28%	45.1%	38.22%	26.32%	24.21%
Net Margin	-34.16%	-81.99%	-98.63%	-130.44%	-92.57%	37.27%	-138.85%	-244.92%	-152.97%	-201.18%
Debt / Equity	0.20x	0.19x	0.16x	0.13x	1.12x	0.13x	1.21x	1.68x	1.33x	1.33x
Interest Coverage	-9.96x	-22.03x	-30.74x	-41.68x	-38.51x	-390.96x	-16.79x	-20.91x	-23.32x	-35.36x
FCF Conversion	1.51x	0.91x	0.73x	0.65x	0.93x	0.66x	0.61x	0.84x	0.87x	0.67x
Revenue Growth	53.12%	-2.23%	3.04%	-15.88%	15.6%	-13.2%	65.43%	-1.69%	56.29%	-23.19%

Revenue by Segment

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2024
Product	-	-	-	-	66.36M	77.74M	65.42M	113.5M	108.7M	136.15M
Product Growth	-	-	-	-	-	17.16%	-15.84%	73.49%	-4.23%	25.25%
Consumable	-	-	-	-	37.86M	32.62M	31.14M	52.18M	59.98M	70.37M
Consumable Growth	-	-	-	-	-	-13.86%	-4.52%	67.56%	14.95%	17.33%
Instrument	-	-	-	-	28.49M	45.13M	34.28M	61.32M	48.72M	65.78M
Instrument Growth	-	-	-	-	-	58.38%	-24.03%	78.88%	-20.55%	35.01%
Service And Other	-	-	-	-	12.27M	13.15M	13.47M	17.01M	19.61M	17.86M
Service And Other Growth	-	-	-	-	-	7.16%	2.43%	26.28%	15.27%	-8.88%

Revenue by Geography

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2024
Americas	-	-	-	-	-	-	-	-	-	78.71M
Americas Growth	-	-	-	-	-	-	-	-	-	-
UNITED STATES	-	-	-	-	-	-	-	-	-	75.3M
UNITED STATES Growth	-	-	-	-	-	-	-	-	-	-
Asia Pacific	-	-	-	39.7M	29.07M	26.61M	22.55M	35.72M	36.15M	40.71M
Asia Pacific Growth	-	-	-	-	-26.78%	-8.46%	-15.25%	58.40%	1.19%	12.63%
EMEA	-	-	-	-	-	-	-	-	-	34.59M
EMEA Growth	-	-	-	-	-	-	-	-	-	-
North America	-	68.8M	50.8M	40.6M	35.6M	44.68M	37.28M	64.52M	69.56M	-
North America Growth	-	-	-26.16%	-20.08%	-12.32%	25.52%	-16.57%	73.09%	7.81%	-
Europe	10.1M	9M	20M	13.2M	13.96M	19.6M	19.07M	30.27M	22.6M	-
Europe Growth	-	-10.89%	122.22%	-34.00%	5.74%	40.42%	-2.73%	58.78%	-25.35%	-
Asia	15.7M	15M	19.9M	-	-	-	-	-	-	-
Asia Growth	-	-4.46%	32.67%	-	-	-	-	-	-	-
U	34.8M	-	-	-	-	-	-	-	-	-
U Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Pacific Biosciences of California, Inc. (PACB) reported $154.6M in revenue for fiscal year 2024. This represents a 356% increase from $33.9M in 2011.

Pacific Biosciences of California, Inc. (PACB) saw revenue decline by 23.2% over the past year.

Pacific Biosciences of California, Inc. (PACB) reported a net loss of $503.6M for fiscal year 2024.

Dividend & Returns

Pacific Biosciences of California, Inc. (PACB) has a return on equity (ROE) of -51.3%. Negative ROE indicates the company is unprofitable.

Pacific Biosciences of California, Inc. (PACB) had negative free cash flow of $131.3M in fiscal year 2024, likely due to heavy capital investments.