The firm's financial position appears increasingly fragile, evidenced by a current ratio that plummeted from 15.23 in 2024Q1 to 0.77 by 2025Q4.
| Total Current Assets | 510.87M | 191.49M | 201.29M | 261.3M | 191.65M | 295.3M | 202.4M | 32.17M | 26.28M |
| Cash & Short-Term Investments | 466.01M | 149.61M | 165.08M | 220.2M | 143.21M | 273.24M | 190.33M | 24.97M | 22.91M |
| Cash Only | 466.01M | 149.61M | 165.08M | 220.2M | 143.21M | 273.24M | 190.33M | 24.97M | 22.91M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 15.39M | 21.82M | 28.93M | 15.62M | 11.22M | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 943K |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 44.86M | 26.5M | 2.58M | 2.33M | 1.22M | 2.31M | 8.92M | 6.99M | 3.37M |
| Total Non-Current Assets | 20.87M | 18.86M | 12.38M | 14.69M | 5.64M | 5.6M | 1.05M | 218K | 108K |
| Property, Plant & Equipment | 2.86M | 3.42M | 2.19M | 4.73M | 2.62M | 4.09M | 245K | 218K | 108K |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 10.95M | 10.95M | 469K | 469K | 469K | 525K | 529K | 0 | 0 |
| Other Non-Current Assets | 13.91M | 734K | 5.94M | 6.16M | 327K | 213K | 278K | 0 | 0 |
| Total Assets | 531.74M | 210.35M | 213.67M | 275.99M | 197.29M | 300.9M | 203.46M | 32.39M | 26.39M |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - |
| Asset Growth % | 73.8% | -1.55% | -22.58% | 39.89% | -34.43% | 47.89% | 528.16% | 22.75% | - |
| Total Current Liabilities | 153.8M | 247.79M | 34.02M | 19.6M | 15.6M | 15.11M | 6.89M | 23.87M | 1.85M |
| Accounts Payable | 10.88M | 15.22M | 12.28M | 5.89M | 4.76M | 2.56M | 2.75M | 1.32M | 694K |
| Days Payables Outstanding | - | - | - | - | - | - | 8.88K | 7.68K | - |
| Short-Term Debt | 2.05M | 19.63M | 5.51M | 0 | 0 | 0 | 0 | 21.09M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 140.87M | 212.94M | 9.24M | 8.09M | 6.19M | 5.29M | 656K | 52K | 0 |
| Current Ratio | 3.32x | 0.77x | 5.92x | 13.33x | 12.29x | 19.55x | 29.36x | 1.35x | 14.24x |
| Quick Ratio | 3.32x | 0.77x | 5.92x | 13.33x | 12.29x | 19.55x | 29.36x | 1.35x | 13.72x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 51.26M | 15.4M | 24.95M | 30.64M | 418K | 1.38M | 0 | 0 | 38.91M |
| Long-Term Debt | 779K | 1.29M | 24.65M | 28.76M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 5.56M | 0 | 303K | 1.88M | 418K | 1.38M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 50.48M | 14.11M | 0 | 0 | 0 | 0 | 0 | 0 | 38.91M |
| Total Liabilities | 205.05M | 263.2M | 58.97M | 50.24M | 16.01M | 16.49M | 6.89M | 23.87M | 40.75M |
| Total Debt | 2.83M | 20.93M | 32.19M | 33.05M | 1.93M | 3.61M | 0 | 21.09M | 0 |
| Net Debt | -463.18M | -128.68M | -132.89M | -187.15M | -141.28M | -269.63M | -190.33M | -3.88M | -22.91M |
| Debt / Equity | 0.01x | - | 0.21x | 0.15x | 0.01x | 0.01x | - | 2.48x | - |
| Debt / EBITDA | -0.08x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 12.66x | - | - | - | - | - | - | - | - |
| Interest Coverage | -36.46x | -63.28x | -33.28x | -52.40x | - | - | - | - | - |
| Total Equity | 326.69M | -52.85M | 154.69M | 225.74M | 181.28M | 284.41M | 196.56M | 8.52M | -14.37M |
| Equity Growth % | -175.72% | -134.16% | -31.47% | 24.53% | -36.26% | 44.69% | 2207.6% | 159.28% | - |
| Book Value per Share | 3.49 | -0.57 | 2.29 | 4.42 | 4.27 | 7.11 | 5.47 | 0.39 | -2.56 |
| Total Shareholders' Equity | 326.69M | -52.85M | 154.69M | 225.74M | 181.28M | 284.41M | 196.56M | 8.52M | -14.37M |
| Common Stock | 1.39M | 973K | 702K | 635K | 440K | 435K | 367K | 111K | 122K |
| Retained Earnings | -731.39M | -822.59M | -534.73M | -379.61M | -261.15M | -169.64M | -97.9M | -37.56M | -17.95M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -3.9M |
| Accumulated OCI | -14.79M | -14.79M | -16.19M | -16.93M | -16.87M | 8.84M | 14.61M | -98K | -435K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial funding runway
As reported in financial statements, COMPASS Pathways' equity base has experienced significant volatility, dropping from $259.2 million in 2024Q1 to a deficit of $52.8 million by 2025Q4, signaling that the company's aggressive R&D spending is rapidly outpacing its ability to maintain a stable capital structure.
The sharp decline in equity suggests that the firm is consuming its capital base to fund late-stage clinical trials without a corresponding revenue offset. Investors should monitor whether this trajectory necessitates further dilutive equity raises to prevent a complete depletion of net assets.
Based on recent SEC filings, the company's current ratio plummeted from 15.23 in 2024Q1 to 0.77 in 2025Q4, indicating a substantial tightening of the firm's short-term liquidity buffer as cash reserves are deployed to support the ongoing Phase III clinical trial infrastructure.
A current ratio below 1.0 suggests that the company may struggle to cover its immediate obligations without external financing or further capital injections. This rapid deterioration in liquidity highlights the precarious nature of the firm's cash runway as it approaches critical regulatory milestones.
According to reported figures, the company maintains a conservative debt profile with total debt of $2.8 million as of 2026Q1, yet this low leverage is a function of limited access to traditional credit markets rather than a strategic choice to avoid interest-bearing obligations.
While the low debt-to-equity ratio appears favorable, it provides little insight into the company's true financial health given the absence of recurring revenue. The reliance on equity financing over debt suggests that the firm's risk profile is currently unsuitable for traditional lenders.
As indicated by the company's financial statements, the accumulated deficit has ballooned to $731.4 million by 2026Q1, which serves as a stark reminder that the firm's entire balance sheet is effectively a bet on the successful commercialization of its proprietary COMP360 therapy protocol.
This massive deficit underscores the high-risk nature of the business model, where years of R&D investment have yet to yield a single dollar of commercial revenue. The lack of tangible assets suggests that the company's valuation is entirely dependent on intangible intellectual property that remains subject to regulatory approval.
Quick answers to the most common questions about buying CMPS stock.
As of 2025, COMPASS Pathways plc (CMPS) had total assets of $210.3M including $191.5M in current assets.
COMPASS Pathways plc (CMPS) carries total debt of $20.9M, offset by $149.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
COMPASS Pathways plc (CMPS) has total shareholders' equity (book value) of $-52.8M ($-0.57 book value per share). Book value represents the net worth of the company belonging to common stock holders.
COMPASS Pathways plc (CMPS) reported a current ratio of 0.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.