Compugen Ltd. (CGEN) 10-Year Financial Performance & Capital Metrics

CGEN • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

AboutCompugen Ltd., a clinical-stage therapeutic discovery and development company, researches, develops, and commercializes therapeutic and product candidates in Israel, the United States, and Europe. The company's immuno-oncology pipeline consists of COM701, an anti-PVRIG antibody that is in Phase I clinical study used for the treatment of solid tumors; COM902, a therapeutic antibody targeting TIGIT, which is in Phase I clinical study in patients with advanced malignancies as a monotherapy; Bapotulimab, a therapeutic antibody targeting ILDR2 that is in Phase I clinical study in patients with solid tumors; and AZD2936, a novel anti-TIGIT/PD-1 bispecific antibody, which is in Phase I/II clinical study in patients with advanced or metastatic non-small cell lung cancer. Its therapeutic pipeline also includes early-stage immuno-oncology programs focused primarily on myeloid targets. The company has collaboration agreement with Bayer Pharma AG for the research, development, and commercialization of antibody-based therapeutics against the company's immune checkpoint regulators; Bristol-Myers Squibb to evaluate the safety and tolerability of COM701 in combination with Bristol-Myers Squibb's PD-1 immune checkpoint inhibitor Opdivo in patients with advanced solid tumors; and Johns Hopkins School of Medicine to evaluate novel T cell and myeloid checkpoint targets. It has license agreement with AstraZeneca for the development of bi-specific and multi-specific immuno-oncology antibody products; and research collaboration with Johns Hopkins University for myeloid. Compugen Ltd. was incorporated in 1993 and is headquartered in Holon, Israel.Show more

Revenue $28M -16.7%
EBITDA -$14M -15.1%
Net Income -$14M +24.1%
EPS (Diluted) -0.16 +23.8%
Gross Margin 71.54% -23.9%
EBITDA Margin -51.7% -38.2%
Operating Margin -53.44% -37.6%
Net Margin -51.07% +8.9%
ROE -23.63% +9.8%
ROIC -24.12% -50.4%
Debt/Equity 0.05 +157.3%
Interest Coverage -437.97 -4.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 177.6% free cash flow margin

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.46%

5Y-

3Y66.84%

TTM275%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.05%

EPS CAGR

10Y-

5Y-

3Y-

TTM11.11%

ROCE

10Y Avg-39.4%

5Y Avg-26.22%

3Y Avg-22.06%

Latest-15.68%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.32B	9.83	70.21	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	728.57M	4.30	11.32	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	944.78M	2.38	-1.86	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	604.8M	7.71	-2.51			-117.82%	0.18
IMNMImmunome, Inc.	2.29B	20.76	-4.15	-35.5%	-23.01%	-84.4%	0.03
NKTRNektar Therapeutics	734.13M	36.09	-4.16	9.22%	-192.87%	-141.9%	1.69
IBRXImmunityBio, Inc.	2.97B	3.02	-4.87	22.71%	-422.28%
NRIXNurix Therapeutics, Inc.	1.93B	19.04	-6.61	-29.15%	-292.5%	-65.76%	0.05

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.28M	712K	0	17.8M	0	2M	6M	7.5M	33.46M	27.86M
Revenue Growth %	-0.25%	-0.92%	-1%	-	-1%	-	2%	0.25%	3.46%	-0.17%
Cost of Goods Sold+	1.63M	223K	1.59M	1.03M	989K	60K	680K	975K	2M	7.93M
COGS % of Revenue	0.18%	0.31%	-	0.06%	-	0.03%	0.11%	0.13%	0.06%	0.28%
Gross Profit+	7.64M	489K	-1.59M	16.77M	-989K	1.94M	5.32M	6.53M	31.45M	19.93M
Gross Margin %	0.82%	0.69%	-	0.94%	-	0.97%	0.89%	0.87%	0.94%	0.72%
Gross Profit Growth %	-0.15%	-0.94%	-4.26%	11.52%	-1.06%	2.96%	1.74%	0.23%	3.82%	-0.37%
Operating Expenses+	28.56M	33.07M	37.41M	39.99M	28.88M	33.44M	40.39M	41.9M	44.45M	34.83M
OpEx % of Revenue	3.08%	46.45%	-	2.25%	-	16.72%	6.73%	5.59%	1.33%	1.25%
Selling, General & Admin	7.32M	8.52M	8.82M	9.68M	9.06M	10.68M	11.7M	11.25M	9.97M	10.02M
SG&A % of Revenue	0.79%	11.97%	-	0.54%	-	5.34%	1.95%	1.5%	0.3%	0.36%
Research & Development	21.25M	24.55M	28.58M	30.32M	19.82M	22.76M	28.69M	30.65M	34.47M	24.81M
R&D % of Revenue	2.29%	34.48%	-	1.7%	-	11.38%	4.78%	4.09%	1.03%	0.89%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-20.92M	-32.58M	-37.41M	-23.23M	-28.88M	-31.5M	-35.07M	-35.37M	-12.99M	-14.89M
Operating Margin %	-2.25%	-45.76%	-	-1.3%	-	-15.75%	-5.85%	-4.72%	-0.39%	-0.53%
Operating Income Growth %	-0.7%	-0.56%	-0.15%	0.38%	-0.24%	-0.09%	-0.11%	-0.01%	0.63%	-0.15%
EBITDA+	-19.81M	-31.1M	-35.81M	-21.83M	-27.89M	-30.78M	-34.61M	-34.89M	-12.52M	-14.4M
EBITDA Margin %	-2.14%	-43.68%	-	-1.23%	-	-15.39%	-5.77%	-4.65%	-0.37%	-0.52%
EBITDA Growth %	-0.7%	-0.57%	-0.15%	0.39%	-0.28%	-0.1%	-0.12%	-0.01%	0.64%	-0.15%
D&A (Non-Cash Add-back)	1.11M	1.48M	1.59M	1.39M	989K	715K	461K	482K	476K	486K
EBIT	-20.92M	-32.58M	-37.05M	-23.23M	-28.03M	-29.66M	-35.07M	-33.61M	-12.99M	-14.89M
Net Interest Income+	755K	705K	15K	620K	903K	1.72M	869K	1.41M	3.21M	5.2M
Interest Income	815K	728K	523K	643K	935K	1.76M	894K	1.44M	3.24M	5.24M
Interest Expense	755K	705K	508K	620K	32K	42K	25K	27K	31K	34K
Other Income/Expense	1.15M	1.1M	339K	628K	820K	1.8M	871K	1.74M	3.21M	5.18M
Pretax Income+	-19.77M	-31.49M	-37.07M	-22.6M	-28.06M	-29.7M	-34.2M	-33.64M	-9.78M	-9.71M
Pretax Margin %	-2.13%	-44.22%	-	-1.27%	-	-14.85%	-5.7%	-4.48%	-0.29%	-0.35%
Income Tax+	390K	20K	0	0	-722K	0	0	58K	8.97M	4.52M
Effective Tax Rate %	1.02%	1%	1%	1%	0.97%	1%	1%	1%	1.92%	1.47%
Net Income+	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
Net Margin %	-2.17%	-44.25%	-	-1.27%	-	-14.85%	-5.7%	-4.49%	-0.56%	-0.51%
Net Income Growth %	-0.82%	-0.56%	-0.18%	0.39%	-0.21%	-0.09%	-0.15%	0.01%	0.44%	0.24%
Net Income (Continuing)	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
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)+	-0.40	-0.62	-0.72	-0.41	-0.43	-0.37	-0.41	-0.39	-0.21	-0.16
EPS Growth %	-0.74%	-0.55%	-0.16%	0.43%	-0.05%	0.14%	-0.11%	0.05%	0.46%	0.24%
EPS (Basic)	-0.40	-0.62	-0.72	-0.41	-0.43	-0.37	-0.41	-0.39	-0.21	-0.16
Diluted Shares Outstanding	50.44M	50.86M	51.18M	55.28M	63.64M	79.59M	84.2M	86.56M	87.63M	89.53M
Basic Shares Outstanding	50.44M	50.86M	51.18M	55.28M	63.64M	79.59M	84.2M	86.56M	87.63M	89.53M
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+	91M	62.68M	31.18M	46.58M	45M	129.09M	123.22M	86.13M	114.58M	106M
Cash & Short-Term Investments	81.85M	61.53M	30.44M	45.67M	43.88M	123.77M	117.05M	83.35M	50.69M	103.25M
Cash Only	81.42M	61.53M	30.44M	45.67M	9.84M	7.14M	7.8M	11.06M	13.89M	18.23M
Short-Term Investments	426K	0	0	0	34.04M	116.62M	109.25M	72.29M	36.8M	85.03M
Accounts Receivable	8.43M	82K	51K	167K	341K	2M	188K	317K	61.32M	269K
Days Sales Outstanding	331.48	42.04	-	3.42	-	365	11.44	15.43	668.91	3.52
Inventory	-1.8M	-2.06M	-1.74M	-1.34M	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	721K	713K	362K	365K	0
Total Non-Current Assets+	8.31M	8.46M	7.57M	6.6M	8.76M	9.23M	8.94M	8.05M	6.75M	9M
Property, Plant & Equipment	6.03M	5.96M	4.65M	3.37M	5.58M	4.48M	3.9M	3.36M	2.54M	3.69M
Fixed Asset Turnover	1.54x	0.12x	-	5.28x	-	0.45x	1.54x	2.23x	13.15x	7.54x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	69.57M	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	-67.29M	2.49M	2.92M	3.23M	3.18M	4.74M	5.04M	4.69M	4.21M	5.3M
Total Assets+	99.31M	71.14M	38.75M	53.18M	53.76M	138.32M	132.16M	94.18M	121.33M	115M
Asset Turnover	0.09x	0.01x	-	0.33x	-	0.01x	0.05x	0.08x	0.28x	0.24x
Asset Growth %	-0.14%	-0.28%	-0.46%	0.37%	0.01%	1.57%	-0.04%	-0.29%	0.29%	-0.05%
Total Current Liabilities+	6.85M	4.74M	6.19M	9.99M	6.82M	10.52M	17.1M	11.92M	26.27M	20.16M
Accounts Payable	2M	1.27M	3.44M	2.95M	1.09M	1.41M	4.62M	1.77M	3.5M	1.84M
Days Payables Outstanding	447.25	2.09K	789.34	1.04K	401.54	8.6K	2.48K	663.74	637.84	84.6
Short-Term Debt	0	0	0	0	600K	0	0	0	0	0
Deferred Revenue (Current)	312K	0	312K	1000K	774K	0	0	0	1000K	1000K
Other Current Liabilities	3.03M	2.07M	1.08M	3.45M	1.71M	668K	6.93M	3.14M	3.13M	3.07M
Current Ratio	13.28x	13.22x	5.03x	4.66x	6.60x	12.27x	7.21x	7.23x	4.36x	5.26x
Quick Ratio	13.54x	13.66x	5.31x	4.80x	6.60x	12.27x	7.21x	7.23x	4.36x	5.26x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	2.56M	2.88M	3.25M	5.95M	8.62M	8.01M	8.37M	4.58M	29.51M	39.92M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.98M	2.53M	1.98M	1.31M	719K	2.46M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.56M	2.88M	3.25M	2.94M	2.95M	5.48M	6.39M	3.27M	3.4M	3.41M
Total Liabilities	9.41M	7.62M	9.45M	15.94M	15.44M	18.53M	25.47M	16.5M	55.77M	60.08M
Total Debt+	0	0	0	0	3.58M	3.17M	2.75M	1.93M	1.35M	2.91M
Net Debt	-81.42M	-61.53M	-30.44M	-45.67M	-6.26M	-3.98M	-5.05M	-9.13M	-12.54M	-15.32M
Debt / Equity	-	-	-	-	0.09x	0.03x	0.03x	0.02x	0.02x	0.05x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-27.71x	-46.22x	-73.63x	-37.46x	-902.47x	-749.90x	-1402.96x	-1310.15x	-419.10x	-437.97x
Total Equity+	89.9M	63.52M	29.3M	37.24M	38.32M	119.78M	106.69M	77.68M	65.56M	54.91M
Equity Growth %	-0.15%	-0.29%	-0.54%	0.27%	0.03%	2.13%	-0.11%	-0.27%	-0.16%	-0.16%
Book Value per Share	1.78	1.25	0.57	0.67	0.60	1.50	1.27	0.90	0.75	0.61
Total Shareholders' Equity	89.9M	63.52M	29.3M	37.24M	38.32M	119.78M	106.69M	77.68M	65.56M	54.91M
Common Stock	138K	140K	140K	164K	187K	231K	239K	240K	247K	248K
Retained Earnings	-239.46M	-270.96M	-308.24M	-330.84M	-358.18M	-387.88M	-422.08M	-455.77M	-474.53M	-488.76M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	421K	7K	17K	0	0	0	0	0	2K	11K
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+	-25.61M	-19.82M	-30.66M	-13.29M	-27.89M	-28.32M	-23.22M	-33.92M	-35.89M	49.6M
Operating CF Margin %	-2.76%	-27.84%	-	-0.75%	-	-14.16%	-3.87%	-4.52%	-1.07%	1.78%
Operating CF Growth %	-1.3%	0.23%	-0.55%	0.57%	-1.1%	-0.02%	0.18%	-0.46%	-0.06%	2.38%
Net Income	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
Depreciation & Amortization	1.11M	1.48M	1.59M	1.39M	989K	715K	461K	482K	476K	486K
Stock-Based Compensation	3.77M	3.08M	2.63M	2.17M	2.41M	2.77M	4.28M	4.33M	3.55M	3.02M
Deferred Taxes	-279K	-383K	0	52K	-135K	-12K	0	0	0	0
Other Non-Cash Items	-421K	101K	-33K	46K	-22K	184K	-573K	515K	-452K	-1.72M
Working Capital Changes	-9.62M	7.4M	2.21M	5.65M	-3.79M	-2.28M	6.82M	-5.55M	-20.71M	62.05M
Change in Receivables	-7.8M	7.8M	422K	-179K	-142K	-2M	2M	3.04M	-61.11M	59.93M
Change in Inventory	-1.17M	518K	247K	-954K	3.5M	-3.82M	-3.37M	0	0	0
Change in Payables	823K	-605K	1.56M	2.69M	-3.5M	3.82M	3.37M	-1.6M	3.51M	-4.41M
Cash from Investing+	9.77M	16.29M	46.27M	-35.16M	5.33M	-82.17M	6.62M	37.06M	35.51M	-46.25M
Capital Expenditures	-3.12M	-2.6M	-385K	-158K	-155K	-166K	-292K	-487K	-172K	-118K
CapEx % of Revenue	0.34%	3.65%	-	0.01%	-	0.08%	0.05%	0.06%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-534K	84K	46.66M	2K	0	0	0	0	0	-329K
Cash from Financing+	972K	2.46M	201K	28.4M	25.93M	108.46M	16.84M	353K	3.08M	554K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	972K	2.46M	201K	685K	3.17M	34.32M	1.88M	0	0	10K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-28.73M	-22.42M	-31.04M	-13.45M	-28.04M	-28.49M	-23.04M	-34.99M	-36.06M	49.49M
FCF Margin %	-3.1%	-31.49%	-	-0.76%	-	-14.24%	-3.84%	-4.67%	-1.08%	1.78%
FCF Growth %	-1.2%	0.22%	-0.38%	0.57%	-1.09%	-0.02%	0.19%	-0.52%	-0.03%	2.37%
FCF per Share	-0.57	-0.44	-0.61	-0.24	-0.44	-0.36	-0.27	-0.40	-0.41	0.55
FCF Conversion (FCF/Net Income)	1.27x	0.63x	0.83x	0.59x	1.02x	0.95x	0.68x	1.01x	1.91x	-3.49x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	20K	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)	-20.59%	-41.07%	-79.87%	-67.93%	-72.35%	-37.57%	-30.2%	-36.55%	-26.19%	-23.63%
Return on Invested Capital (ROIC)	-75.05%	-466.89%	-6593.13%	-	-183.34%	-31.95%	-24.19%	-31.18%	-16.03%	-24.12%
Gross Margin	82.4%	68.68%	-	94.19%	-	97%	88.67%	87%	94.01%	71.54%
Net Margin	-217.34%	-4425%	-	-126.96%	-	-1484.9%	-570.05%	-449.25%	-56.05%	-51.07%
Debt / Equity	-	-	-	-	0.09x	0.03x	0.03x	0.02x	0.02x	0.05x
Interest Coverage	-27.71x	-46.22x	-73.63x	-37.46x	-902.47x	-749.90x	-1402.96x	-1310.15x	-419.10x	-437.97x
FCF Conversion	1.27x	0.63x	0.83x	0.59x	1.02x	0.95x	0.68x	1.01x	1.91x	-3.49x
Revenue Growth	-24.99%	-92.33%	-100%	-	-100%	-	200%	25%	346.12%	-16.72%

Revenue by Geography

	2013	2014	2015	2016	2018	2020	2021	2022	2023	2024
Unites States	-	-	-	-	-	-	-	-	23.46M	22.86M
Unites States Growth	-	-	-	-	-	-	-	-	-	-2.54%
Europe	3.29M	12.15M	9.24M	712K	17.8M	2M	6M	7.5M	10M	5M
Europe Growth	-	269.57%	-23.94%	-92.30%	2400.00%	-88.76%	200.00%	25.00%	33.33%	-50.00%
ISRAEL	260K	212K	32K	-	-	-	-	-	-	-
ISRAEL Growth	-	-18.46%	-84.91%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Compugen Ltd. (CGEN) reported $7.5M in revenue for fiscal year 2024.

Compugen Ltd. (CGEN) saw revenue decline by 16.7% over the past year.

Compugen Ltd. (CGEN) reported a net loss of $31.6M for fiscal year 2024.

Dividend & Returns

Compugen Ltd. (CGEN) has a return on equity (ROE) of -23.6%. Negative ROE indicates the company is unprofitable.

Compugen Ltd. (CGEN) had negative free cash flow of $23.4M in fiscal year 2024, likely due to heavy capital investments.

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Compugen Ltd. (CGEN) 10-Year Financial Performance & Capital Metrics

CGEN • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

Revenue $28M -16.7%
EBITDA -$14M -15.1%
Net Income -$14M +24.1%
EPS (Diluted) -0.16 +23.8%
Gross Margin 71.54% -23.9%
EBITDA Margin -51.7% -38.2%
Operating Margin -53.44% -37.6%
Net Margin -51.07% +8.9%
ROE -23.63% +9.8%
ROIC -24.12% -50.4%
Debt/Equity 0.05 +157.3%
Interest Coverage -437.97 -4.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 177.6% free cash flow margin

✗Weaknesses

✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.46%

5Y-

3Y66.84%

TTM275%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM14.05%

EPS CAGR

10Y-

5Y-

3Y-

TTM11.11%

ROCE

10Y Avg-39.4%

5Y Avg-26.22%

3Y Avg-22.06%

Latest-15.68%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.32B	9.83	70.21	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	728.57M	4.30	11.32	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	944.78M	2.38	-1.86	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	604.8M	7.71	-2.51			-117.82%	0.18
IMNMImmunome, Inc.	2.29B	20.76	-4.15	-35.5%	-23.01%	-84.4%	0.03
NKTRNektar Therapeutics	734.13M	36.09	-4.16	9.22%	-192.87%	-141.9%	1.69
IBRXImmunityBio, Inc.	2.97B	3.02	-4.87	22.71%	-422.28%
NRIXNurix Therapeutics, Inc.	1.93B	19.04	-6.61	-29.15%	-292.5%	-65.76%	0.05

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	9.28M	712K	0	17.8M	0	2M	6M	7.5M	33.46M	27.86M
Revenue Growth %	-0.25%	-0.92%	-1%	-	-1%	-	2%	0.25%	3.46%	-0.17%
Cost of Goods Sold+	1.63M	223K	1.59M	1.03M	989K	60K	680K	975K	2M	7.93M
COGS % of Revenue	0.18%	0.31%	-	0.06%	-	0.03%	0.11%	0.13%	0.06%	0.28%
Gross Profit+	7.64M	489K	-1.59M	16.77M	-989K	1.94M	5.32M	6.53M	31.45M	19.93M
Gross Margin %	0.82%	0.69%	-	0.94%	-	0.97%	0.89%	0.87%	0.94%	0.72%
Gross Profit Growth %	-0.15%	-0.94%	-4.26%	11.52%	-1.06%	2.96%	1.74%	0.23%	3.82%	-0.37%
Operating Expenses+	28.56M	33.07M	37.41M	39.99M	28.88M	33.44M	40.39M	41.9M	44.45M	34.83M
OpEx % of Revenue	3.08%	46.45%	-	2.25%	-	16.72%	6.73%	5.59%	1.33%	1.25%
Selling, General & Admin	7.32M	8.52M	8.82M	9.68M	9.06M	10.68M	11.7M	11.25M	9.97M	10.02M
SG&A % of Revenue	0.79%	11.97%	-	0.54%	-	5.34%	1.95%	1.5%	0.3%	0.36%
Research & Development	21.25M	24.55M	28.58M	30.32M	19.82M	22.76M	28.69M	30.65M	34.47M	24.81M
R&D % of Revenue	2.29%	34.48%	-	1.7%	-	11.38%	4.78%	4.09%	1.03%	0.89%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	-20.92M	-32.58M	-37.41M	-23.23M	-28.88M	-31.5M	-35.07M	-35.37M	-12.99M	-14.89M
Operating Margin %	-2.25%	-45.76%	-	-1.3%	-	-15.75%	-5.85%	-4.72%	-0.39%	-0.53%
Operating Income Growth %	-0.7%	-0.56%	-0.15%	0.38%	-0.24%	-0.09%	-0.11%	-0.01%	0.63%	-0.15%
EBITDA+	-19.81M	-31.1M	-35.81M	-21.83M	-27.89M	-30.78M	-34.61M	-34.89M	-12.52M	-14.4M
EBITDA Margin %	-2.14%	-43.68%	-	-1.23%	-	-15.39%	-5.77%	-4.65%	-0.37%	-0.52%
EBITDA Growth %	-0.7%	-0.57%	-0.15%	0.39%	-0.28%	-0.1%	-0.12%	-0.01%	0.64%	-0.15%
D&A (Non-Cash Add-back)	1.11M	1.48M	1.59M	1.39M	989K	715K	461K	482K	476K	486K
EBIT	-20.92M	-32.58M	-37.05M	-23.23M	-28.03M	-29.66M	-35.07M	-33.61M	-12.99M	-14.89M
Net Interest Income+	755K	705K	15K	620K	903K	1.72M	869K	1.41M	3.21M	5.2M
Interest Income	815K	728K	523K	643K	935K	1.76M	894K	1.44M	3.24M	5.24M
Interest Expense	755K	705K	508K	620K	32K	42K	25K	27K	31K	34K
Other Income/Expense	1.15M	1.1M	339K	628K	820K	1.8M	871K	1.74M	3.21M	5.18M
Pretax Income+	-19.77M	-31.49M	-37.07M	-22.6M	-28.06M	-29.7M	-34.2M	-33.64M	-9.78M	-9.71M
Pretax Margin %	-2.13%	-44.22%	-	-1.27%	-	-14.85%	-5.7%	-4.48%	-0.29%	-0.35%
Income Tax+	390K	20K	0	0	-722K	0	0	58K	8.97M	4.52M
Effective Tax Rate %	1.02%	1%	1%	1%	0.97%	1%	1%	1%	1.92%	1.47%
Net Income+	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
Net Margin %	-2.17%	-44.25%	-	-1.27%	-	-14.85%	-5.7%	-4.49%	-0.56%	-0.51%
Net Income Growth %	-0.82%	-0.56%	-0.18%	0.39%	-0.21%	-0.09%	-0.15%	0.01%	0.44%	0.24%
Net Income (Continuing)	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
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)+	-0.40	-0.62	-0.72	-0.41	-0.43	-0.37	-0.41	-0.39	-0.21	-0.16
EPS Growth %	-0.74%	-0.55%	-0.16%	0.43%	-0.05%	0.14%	-0.11%	0.05%	0.46%	0.24%
EPS (Basic)	-0.40	-0.62	-0.72	-0.41	-0.43	-0.37	-0.41	-0.39	-0.21	-0.16
Diluted Shares Outstanding	50.44M	50.86M	51.18M	55.28M	63.64M	79.59M	84.2M	86.56M	87.63M	89.53M
Basic Shares Outstanding	50.44M	50.86M	51.18M	55.28M	63.64M	79.59M	84.2M	86.56M	87.63M	89.53M
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+	91M	62.68M	31.18M	46.58M	45M	129.09M	123.22M	86.13M	114.58M	106M
Cash & Short-Term Investments	81.85M	61.53M	30.44M	45.67M	43.88M	123.77M	117.05M	83.35M	50.69M	103.25M
Cash Only	81.42M	61.53M	30.44M	45.67M	9.84M	7.14M	7.8M	11.06M	13.89M	18.23M
Short-Term Investments	426K	0	0	0	34.04M	116.62M	109.25M	72.29M	36.8M	85.03M
Accounts Receivable	8.43M	82K	51K	167K	341K	2M	188K	317K	61.32M	269K
Days Sales Outstanding	331.48	42.04	-	3.42	-	365	11.44	15.43	668.91	3.52
Inventory	-1.8M	-2.06M	-1.74M	-1.34M	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	0	0	0	0	0	721K	713K	362K	365K	0
Total Non-Current Assets+	8.31M	8.46M	7.57M	6.6M	8.76M	9.23M	8.94M	8.05M	6.75M	9M
Property, Plant & Equipment	6.03M	5.96M	4.65M	3.37M	5.58M	4.48M	3.9M	3.36M	2.54M	3.69M
Fixed Asset Turnover	1.54x	0.12x	-	5.28x	-	0.45x	1.54x	2.23x	13.15x	7.54x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	69.57M	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	-67.29M	2.49M	2.92M	3.23M	3.18M	4.74M	5.04M	4.69M	4.21M	5.3M
Total Assets+	99.31M	71.14M	38.75M	53.18M	53.76M	138.32M	132.16M	94.18M	121.33M	115M
Asset Turnover	0.09x	0.01x	-	0.33x	-	0.01x	0.05x	0.08x	0.28x	0.24x
Asset Growth %	-0.14%	-0.28%	-0.46%	0.37%	0.01%	1.57%	-0.04%	-0.29%	0.29%	-0.05%
Total Current Liabilities+	6.85M	4.74M	6.19M	9.99M	6.82M	10.52M	17.1M	11.92M	26.27M	20.16M
Accounts Payable	2M	1.27M	3.44M	2.95M	1.09M	1.41M	4.62M	1.77M	3.5M	1.84M
Days Payables Outstanding	447.25	2.09K	789.34	1.04K	401.54	8.6K	2.48K	663.74	637.84	84.6
Short-Term Debt	0	0	0	0	600K	0	0	0	0	0
Deferred Revenue (Current)	312K	0	312K	1000K	774K	0	0	0	1000K	1000K
Other Current Liabilities	3.03M	2.07M	1.08M	3.45M	1.71M	668K	6.93M	3.14M	3.13M	3.07M
Current Ratio	13.28x	13.22x	5.03x	4.66x	6.60x	12.27x	7.21x	7.23x	4.36x	5.26x
Quick Ratio	13.54x	13.66x	5.31x	4.80x	6.60x	12.27x	7.21x	7.23x	4.36x	5.26x
Cash Conversion Cycle	-	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities+	2.56M	2.88M	3.25M	5.95M	8.62M	8.01M	8.37M	4.58M	29.51M	39.92M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	2.98M	2.53M	1.98M	1.31M	719K	2.46M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	2.56M	2.88M	3.25M	2.94M	2.95M	5.48M	6.39M	3.27M	3.4M	3.41M
Total Liabilities	9.41M	7.62M	9.45M	15.94M	15.44M	18.53M	25.47M	16.5M	55.77M	60.08M
Total Debt+	0	0	0	0	3.58M	3.17M	2.75M	1.93M	1.35M	2.91M
Net Debt	-81.42M	-61.53M	-30.44M	-45.67M	-6.26M	-3.98M	-5.05M	-9.13M	-12.54M	-15.32M
Debt / Equity	-	-	-	-	0.09x	0.03x	0.03x	0.02x	0.02x	0.05x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-27.71x	-46.22x	-73.63x	-37.46x	-902.47x	-749.90x	-1402.96x	-1310.15x	-419.10x	-437.97x
Total Equity+	89.9M	63.52M	29.3M	37.24M	38.32M	119.78M	106.69M	77.68M	65.56M	54.91M
Equity Growth %	-0.15%	-0.29%	-0.54%	0.27%	0.03%	2.13%	-0.11%	-0.27%	-0.16%	-0.16%
Book Value per Share	1.78	1.25	0.57	0.67	0.60	1.50	1.27	0.90	0.75	0.61
Total Shareholders' Equity	89.9M	63.52M	29.3M	37.24M	38.32M	119.78M	106.69M	77.68M	65.56M	54.91M
Common Stock	138K	140K	140K	164K	187K	231K	239K	240K	247K	248K
Retained Earnings	-239.46M	-270.96M	-308.24M	-330.84M	-358.18M	-387.88M	-422.08M	-455.77M	-474.53M	-488.76M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	421K	7K	17K	0	0	0	0	0	2K	11K
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+	-25.61M	-19.82M	-30.66M	-13.29M	-27.89M	-28.32M	-23.22M	-33.92M	-35.89M	49.6M
Operating CF Margin %	-2.76%	-27.84%	-	-0.75%	-	-14.16%	-3.87%	-4.52%	-1.07%	1.78%
Operating CF Growth %	-1.3%	0.23%	-0.55%	0.57%	-1.1%	-0.02%	0.18%	-0.46%	-0.06%	2.38%
Net Income	-20.16M	-31.51M	-37.07M	-22.6M	-27.34M	-29.7M	-34.2M	-33.69M	-18.75M	-14.23M
Depreciation & Amortization	1.11M	1.48M	1.59M	1.39M	989K	715K	461K	482K	476K	486K
Stock-Based Compensation	3.77M	3.08M	2.63M	2.17M	2.41M	2.77M	4.28M	4.33M	3.55M	3.02M
Deferred Taxes	-279K	-383K	0	52K	-135K	-12K	0	0	0	0
Other Non-Cash Items	-421K	101K	-33K	46K	-22K	184K	-573K	515K	-452K	-1.72M
Working Capital Changes	-9.62M	7.4M	2.21M	5.65M	-3.79M	-2.28M	6.82M	-5.55M	-20.71M	62.05M
Change in Receivables	-7.8M	7.8M	422K	-179K	-142K	-2M	2M	3.04M	-61.11M	59.93M
Change in Inventory	-1.17M	518K	247K	-954K	3.5M	-3.82M	-3.37M	0	0	0
Change in Payables	823K	-605K	1.56M	2.69M	-3.5M	3.82M	3.37M	-1.6M	3.51M	-4.41M
Cash from Investing+	9.77M	16.29M	46.27M	-35.16M	5.33M	-82.17M	6.62M	37.06M	35.51M	-46.25M
Capital Expenditures	-3.12M	-2.6M	-385K	-158K	-155K	-166K	-292K	-487K	-172K	-118K
CapEx % of Revenue	0.34%	3.65%	-	0.01%	-	0.08%	0.05%	0.06%	0.01%	0%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-534K	84K	46.66M	2K	0	0	0	0	0	-329K
Cash from Financing+	972K	2.46M	201K	28.4M	25.93M	108.46M	16.84M	353K	3.08M	554K
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	972K	2.46M	201K	685K	3.17M	34.32M	1.88M	0	0	10K
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-28.73M	-22.42M	-31.04M	-13.45M	-28.04M	-28.49M	-23.04M	-34.99M	-36.06M	49.49M
FCF Margin %	-3.1%	-31.49%	-	-0.76%	-	-14.24%	-3.84%	-4.67%	-1.08%	1.78%
FCF Growth %	-1.2%	0.22%	-0.38%	0.57%	-1.09%	-0.02%	0.19%	-0.52%	-0.03%	2.37%
FCF per Share	-0.57	-0.44	-0.61	-0.24	-0.44	-0.36	-0.27	-0.40	-0.41	0.55
FCF Conversion (FCF/Net Income)	1.27x	0.63x	0.83x	0.59x	1.02x	0.95x	0.68x	1.01x	1.91x	-3.49x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	20K	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)	-20.59%	-41.07%	-79.87%	-67.93%	-72.35%	-37.57%	-30.2%	-36.55%	-26.19%	-23.63%
Return on Invested Capital (ROIC)	-75.05%	-466.89%	-6593.13%	-	-183.34%	-31.95%	-24.19%	-31.18%	-16.03%	-24.12%
Gross Margin	82.4%	68.68%	-	94.19%	-	97%	88.67%	87%	94.01%	71.54%
Net Margin	-217.34%	-4425%	-	-126.96%	-	-1484.9%	-570.05%	-449.25%	-56.05%	-51.07%
Debt / Equity	-	-	-	-	0.09x	0.03x	0.03x	0.02x	0.02x	0.05x
Interest Coverage	-27.71x	-46.22x	-73.63x	-37.46x	-902.47x	-749.90x	-1402.96x	-1310.15x	-419.10x	-437.97x
FCF Conversion	1.27x	0.63x	0.83x	0.59x	1.02x	0.95x	0.68x	1.01x	1.91x	-3.49x
Revenue Growth	-24.99%	-92.33%	-100%	-	-100%	-	200%	25%	346.12%	-16.72%

Revenue by Geography

	2013	2014	2015	2016	2018	2020	2021	2022	2023	2024
Unites States	-	-	-	-	-	-	-	-	23.46M	22.86M
Unites States Growth	-	-	-	-	-	-	-	-	-	-2.54%
Europe	3.29M	12.15M	9.24M	712K	17.8M	2M	6M	7.5M	10M	5M
Europe Growth	-	269.57%	-23.94%	-92.30%	2400.00%	-88.76%	200.00%	25.00%	33.33%	-50.00%
ISRAEL	260K	212K	32K	-	-	-	-	-	-	-
ISRAEL Growth	-	-18.46%	-84.91%	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Compugen Ltd. (CGEN) reported $7.5M in revenue for fiscal year 2024.

Compugen Ltd. (CGEN) saw revenue decline by 16.7% over the past year.

Compugen Ltd. (CGEN) reported a net loss of $31.6M for fiscal year 2024.

Dividend & Returns

Compugen Ltd. (CGEN) has a return on equity (ROE) of -23.6%. Negative ROE indicates the company is unprofitable.

Compugen Ltd. (CGEN) had negative free cash flow of $23.4M in fiscal year 2024, likely due to heavy capital investments.