The company's financial position appears vulnerable, with total assets contracting to $1.2 billion and retained earnings reflecting a substantial $660.8 million deficit as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 834.84M | 942.05M | 965.6M | 833.84M | 832.77M | 1.06B | 636.68M | 611.7M | 613.78M | 445.26M | 559.89M | 337.33M | 359.55M | 169.75M | 130.14M | 190.59M |
| Cash & Short-Term Investments | 737.04M | 854.42M | 893.71M | 776.93M | 783.12M | 1.02B | 572.93M | 564.88M | 805.42M | 567.75M | 573.56M | 375.91M | 342.06M | 166.77M | 127.98M | 179.17M |
| Cash Only | 113.6M | 89.13M | 76.25M | 88.2M | 139.26M | 203.13M | 127.44M | 80.93M | 805.42M | 567.75M | 573.56M | 375.91M | 14.03M | 71.56M | 91.3M | 117.66M |
| Short-Term Investments | 623.44M | 765.29M | 817.46M | 688.72M | 643.86M | 816.89M | 445.49M | 483.95M | 0 | 0 | 0 | 0 | 328.03M | 95.21M | 36.68M | 61.51M |
| Accounts Receivable | 16.13M | 10.58M | 4.11M | 2.81M | 2.21M | 4.38M | 0 | 15.32M | 10.44M | 3.67M | 8.31M | 11.6M | 12.67M | 476K | 0 | 0 |
| Days Sales Outstanding | 50.74 | 71.46 | 41.09 | 38.24 | 56.54 | - | - | 47.42 | 40.38 | 31.14 | 43.42 | 71.61 | 70.74 | 6.8 | - | - |
| Inventory | 35.09M | 32.92M | 27.62M | 19.08M | 8.49M | 0 | 0 | 7.33M | 869K | -143.81M | -32.25M | -58.91M | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 1.01K | 1.04K | 2.42K | 732.61 | 1.82K | - | - | 2.03K | 227.05 | - | - | - | - | - | - | - |
| Other Current Assets | 46.59M | 44.13M | 40.16M | 35.02M | 38.95M | 0 | 63.75M | 0 | 17.17M | 0 | 0 | 0 | 0 | 0 | 1.25M | 10.62M |
| Total Non-Current Assets | 350.15M | 355.17M | 697.6M | 103.28M | 405.95M | 373.5M | 216.27M | 279.04M | 244.68M | 169.14M | 59.2M | 82.74M | 132.36M | 31.46M | 6.86M | 3.88M |
| Property, Plant & Equipment | 37.76M | 41.23M | 54.55M | 69.79M | 88.12M | 104.23M | 116.07M | 126.11M | 24.32M | 24.43M | 25.34M | 23.22M | 6.39M | 3.76M | 3.56M | 3.22M |
| Fixed Asset Turnover | 1.55x | 1.31x | 0.67x | 0.38x | 0.16x | - | - | 0.94x | 3.88x | 1.76x | 2.76x | 2.55x | 10.23x | 6.80x | 7.04x | 6.78x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 1.32B | 310.01M | 638.32M | 29.43M | 313.87M | 266.38M | 97.61M | 152.93M | 220.12M | 143.81M | 32.25M | 58.91M | 125.38M | 27.13M | 0 | 0 |
| Other Non-Current Assets | 3.93M | 3.93M | 4.72M | 4.06M | 3.96M | 2.9M | 2.6M | 0 | 238K | 891K | 1.61M | 611K | 590K | 575K | 593K | 626K |
| Total Assets | 1.18B | 1.3B | 1.66B | 937.12M | 1.24B | 1.44B | 852.95M | 890.74M | 858.46M | 614.4M | 619.09M | 420.06M | 491.9M | 201.21M | 137.01M | 194.47M |
| Asset Turnover | 0.05x | 0.04x | 0.02x | 0.03x | 0.01x | - | - | 0.13x | 0.11x | 0.07x | 0.11x | 0.14x | 0.13x | 0.13x | 0.18x | 0.11x |
| Asset Growth % | 21.82% | -22% | 77.48% | -24.35% | -13.84% | 68.56% | -4.24% | 3.76% | 39.72% | -0.76% | 47.38% | -14.6% | 144.48% | 46.86% | -29.55% | - |
| Total Current Liabilities | 58.84M | 82.21M | 81.16M | 67.95M | 62.63M | 59.83M | 94.39M | 92.89M | 93.5M | 94.94M | 88.43M | 52.89M | 61.09M | 36.93M | 35.11M | 48.16M |
| Accounts Payable | 13.75M | 18.36M | 16.64M | 9.78M | 18.62M | 16.7M | 17.72M | 21.9M | 17.88M | 22.77M | 17.11M | 14.75M | 11.07M | 3.68M | 3.31M | 3.57M |
| Days Payables Outstanding | 533.17 | 581.46 | 1.46K | 375.6 | 3.99K | 324.63 | 344.62 | 6.07K | 4.67K | 28.39 | 28.36 | 37.95 | 40.25 | 24.63 | 29.42 | - |
| Short-Term Debt | 18.8M | 18.39M | 0 | 0 | 0 | 0 | 7.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 10.93M | 92.52M | 163.64M | 190.21M | 24.36M | 35.69M | 25.07M | 25.07M | 25.07M |
| Other Current Liabilities | 14.61M | 18.2M | 46.86M | 23.23M | 12.24M | 19.82M | 48.91M | 18.98M | 22.07M | 18.64M | 24.32M | 11.47M | 6M | 3.77M | 1.27M | 621K |
| Current Ratio | 14.19x | 11.46x | 11.90x | 12.27x | 13.30x | 17.79x | 6.74x | 6.59x | 6.56x | 4.69x | 6.33x | 6.38x | 5.89x | 4.60x | 3.71x | 3.96x |
| Quick Ratio | 13.59x | 11.06x | 11.56x | 11.99x | 13.16x | 17.79x | 6.74x | 6.51x | 6.55x | 6.20x | 6.70x | 7.49x | 5.89x | 4.60x | 3.71x | 3.96x |
| Cash Conversion Cycle | 526.23 | 532.85 | 1K | 395.25 | -2.11K | - | - | -3.99K | -4.4K | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 17.03M | 21.91M | 41.09M | 58.14M | 75.28M | 85.94M | 359.06M | 157.33M | 77.42M | 143.95M | 172.07M | 22.06M | 6.45M | 32.79M | 58M | 83.17M |
| Long-Term Debt | 0 | 21.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 96.45M | 21.82M | 40.21M | 56.99M | 72M | 85.94M | 97.79M | 106.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 90K | -21.73M | 880K | 1.16M | 3.28M | 0 | 261.27M | 0 | 17.61M | 18.16M | 17.77M | 17.36M | 3.72M | 226K | 358K | 33K |
| Total Liabilities | 75.88M | 104.11M | 122.24M | 126.1M | 137.9M | 145.76M | 453.45M | 250.21M | 170.92M | 238.89M | 260.5M | 74.95M | 67.54M | 69.72M | 93.11M | 131.33M |
| Total Debt | 35.74M | 62.02M | 56.99M | 72M | 85.66M | 97.09M | 105.2M | 113.66M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -77.86M | -27.11M | -19.26M | -16.21M | -53.6M | -106.03M | -22.24M | 32.73M | -805.42M | -567.75M | -573.56M | -375.91M | -14.03M | -71.56M | -91.3M | -117.66M |
| Debt / Equity | 0.03x | 0.05x | 0.04x | 0.09x | 0.08x | 0.08x | 0.26x | 0.18x | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.08x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.17x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | -18.47x | - | - | - | - | - | - | - | - | - |
| Total Equity | 1.11B | 1.19B | 1.54B | 811.02M | 1.1B | 1.29B | 399.5M | 640.53M | 687.54M | 375.5M | 358.59M | 345.12M | 424.37M | 131.48M | 43.9M | 63.14M |
| Equity Growth % | 39.36% | -22.57% | 90% | -26.33% | -14.8% | 223.4% | -37.63% | -6.84% | 83.1% | 4.72% | 3.9% | -18.67% | 222.76% | 199.52% | -30.48% | - |
| Book Value per Share | 18.87 | 20.58 | 26.62 | 14.57 | 20.09 | 21.37 | 5.79 | 10.68 | 11.97 | 8.06 | 9.16 | 9.22 | 12.60 | 8.53 | 1.88 | 2.70 |
| Total Shareholders' Equity | 1.11B | 1.19B | 1.54B | 811.02M | 1.1B | 1.29B | 399.5M | 640.53M | 687.54M | 375.5M | 358.59M | 345.12M | 424.37M | 131.48M | 43.9M | 63.14M |
| Common Stock | 76K | 75K | 73K | 72K | 71K | 71K | 69K | 68K | 58K | 49K | 42K | 38K | 37K | 31K | 3K | 3K |
| Retained Earnings | -660.82M | -561.71M | -148.92M | -822.65M | -470.56M | -238.76M | -1.84B | -1.52B | -1.1B | -798.06M | -483.15M | -284.68M | -166.95M | -113.44M | -74.04M | -53.94M |
| Treasury Stock | -802.49M | -802.49M | -802.49M | -802.49M | -802.49M | -802.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -314K | 2.19M | -1.52M | -441K | -12.54M | -1.2M | 105K | 202K | -2.17M | -1.39M | -313K | -318K | -57K | 14K | -2K | 23K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity shortfall
According to reported financial statements, AGIO's total assets have declined from $1.8B in 2024Q3 to $1.2B by 2026Q1, reflecting a significant reduction in the company's resource base as it aggressively funds its commercial transition and clinical development programs for the mitapivat platform.
The steady decline in total assets suggests that the company is consuming its capital reserves faster than it is generating new value through commercial operations. This trajectory warrants close monitoring, as the shrinking asset base may limit future strategic flexibility if the current burn rate persists.
As reported in recent quarterly filings, AGIO's cash position has fluctuated significantly, dropping to $89.1M in 2025Q4 before a slight recovery to $113.6M in 2026Q1, which remains insufficient given the company's persistent quarterly operating losses and high R&D intensity.
While the current ratio remains high due to low current liabilities, the absolute cash balance provides a very thin buffer against the company's substantial quarterly cash burn. Investors should consider the high probability of future dilutive financing, as the current liquidity profile appears inadequate to sustain long-term clinical trials.
Based on the provided balance sheet data, AGIO's retained earnings have deteriorated significantly, reaching a deficit of $660.8M in 2026Q1, which highlights the substantial capital consumption required to build the company's rare disease commercial infrastructure and advance its metabolic research pipeline.
The persistent growth of the accumulated deficit underscores the company's reliance on external capital rather than internally generated profits. This trend suggests that shareholder equity is being eroded by ongoing operational losses, necessitating a shift toward profitability to stabilize the capital structure.
Analysis of the balance sheet reveals that PPE net assets have steadily declined from $69.8M in 2023Q4 to $37.8M in 2026Q1, suggesting that the company is not reinvesting in physical infrastructure, which may indicate a reliance on third-party manufacturing or a strategic shift toward an asset-light model.
This reduction in physical capital intensity may be interpreted as a positive move toward efficiency, yet it also implies that the company lacks significant tangible collateral. The absence of goodwill on the balance sheet is notable, suggesting that the company's valuation is almost entirely dependent on intangible clinical assets and future regulatory success.
Quick answers to the most common questions about buying AGIO stock.
As of 2025, Agios Pharmaceuticals, Inc. (AGIO) had total assets of $1.30B including $942.1M in current assets.
Agios Pharmaceuticals, Inc. (AGIO) carries total debt of $62.0M, offset by $854.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Agios Pharmaceuticals, Inc. (AGIO) has total shareholders' equity (book value) of $1.19B ($20.58 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Agios Pharmaceuticals, Inc. (AGIO) reported a current ratio of 11.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.