CEL-SCI Corporation (CVM) 10-Year Financial Performance & Capital Metrics

CVM • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology

AboutCEL-SCI Corporation engages in the research and development of immunotherapy for the treatment of cancer and infectious diseases. The company's lead investigational immunotherapy is Multikine, which is under phase III clinical trial for the treatment of head and neck cancer. Its Ligand Epitope Antigen Presentation System (LEAPS), a pre-clinical patented T-cell modulation process that stimulates the human immune system to fight bacterial, viral, and parasitic infections, as well as autoimmune diseases, allergies, transplantation rejections, and cancer. The company also develops LEAPS-H1N1-DC; CEL-2000 and CEL-4000 are product candidates for the treatment of rheumatoid arthritis; and LEAPS COV-19, a product candidate to treat COVID-19 coronavirus. CEL-SCI Corporation has a collaboration agreement with the University of Georgia's Center for Vaccines and Immunology to develop LEAPS COVID-19 immunotherapy. The company was incorporated in 1983 and is headquartered in Vienna, Virginia.Show more

Revenue $0
EBITDA -$21M +6.5%
Net Income -$25M +5.6%
EPS (Diluted) -6.27 +53.6%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -0.32% +99.8%
ROIC -0.26% +99.7%
Debt/Equity 0.59 -34.9%
Interest Coverage -38.23 -8.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.0x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Weak momentum: RS Rating 19 (bottom 19%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-100%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.61%

EPS CAGR

10Y-

5Y-

3Y-

TTM49.67%

ROCE

10Y Avg-114.99%

5Y Avg-65.73%

3Y Avg-66.84%

Latest-0.22%

Peer Comparison

Solid Tumor Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TLXTelix Pharmaceuticals Limited	2.49B	7.43	53.07	55.85%	3.98%	15.63%	0.36%	1.02
EXELExelixis, Inc.	12.18B	45.44	25.82	18.49%	29.63%	31.37%	5.2%	0.09
BBOTBridgeBio Oncology Therapeutics Inc.	919.87M	11.50	25			-25.73%
INBXInhibrx Biosciences, Inc.	1.04B	71.80	0.62	-88.89%	-110.78%	-421.09%		0.06
NUVBNuvation Bio Inc.	2.1B	6.14	-2.91		-8.13%	-66.74%		0.02
RLAYRelay Therapeutics, Inc.	1.32B	7.63	-3.23	-60.83%	-26.71%	-48.97%		0.06
ORICORIC Pharmaceuticals, Inc.	1.12B	11.52	-6.30			-33.24%		0.01
ZLABZai Lab Limited	2.09B	18.82	-7.24	49.59%	-46.83%	-27.21%		0.18

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	285.06K	69.02K	476.56K	462.75K	558.66K	0	0	0	0	0
Revenue Growth %	-0.57%	-0.76%	5.9%	-0.03%	0.21%	-1%	-	-	-	-
Cost of Goods Sold+	17.45K	633K	10.91K	12.66K	17.84K	499K	3.88M	3.96M	3.97M	3.89M
COGS % of Revenue	0.06%	9.17%	0.02%	0.03%	0.03%	-	-	-	-	-
Gross Profit+	267.61K	-563.98K	465.64K	450.1K	540.82K	-499K	-3.88M	-3.96M	-3.97M	-3.89M
Gross Margin %	0.94%	-8.17%	0.98%	0.97%	0.97%	-	-	-	-	-
Gross Profit Growth %	-0.58%	-3.11%	1.83%	-0.03%	0.2%	-1.92%	-6.78%	-0.02%	-0%	0.02%
Operating Expenses+	25.55M	21.34M	16.77M	20.2M	28.99M	36.19M	36.06M	31.48M	22.38M	20.92M
OpEx % of Revenue	89.64%	309.16%	35.19%	43.64%	51.88%	-	-	-	-	-
Selling, General & Admin	6.49M	5.8M	7.85M	8M	11.7M	13.09M	10.71M	9M	4.22M	5.04M
SG&A % of Revenue	22.76%	84.04%	16.47%	17.28%	20.95%	-	-	-	-	-
Research & Development	19.35M	15.61M	9.4M	12.66M	17.84M	23.11M	25.36M	22.47M	18.16M	15.89M
R&D % of Revenue	67.89%	226.12%	19.73%	27.36%	31.93%	-	-	-	-	-
Other Operating Expenses	-285.06K	-69.02K	70.9K	-462.75K	-558.66K	1.68M	76.36K	-22.47M	0	0
Operating Income+	-25.55M	-21.34M	-16.77M	-20.2M	-28.99M	-36.19M	-36.06M	-31.48M	-26.35M	-24.81M
Operating Margin %	-89.64%	-309.16%	-35.19%	-43.64%	-51.88%	-	-	-	-	-
Operating Income Growth %	0.25%	0.16%	0.21%	-0.2%	-0.44%	-0.25%	0%	0.13%	0.16%	0.06%
EBITDA+	-24.89M	-20.71M	-16.12M	-19.56M	-26.83M	-35.7M	-32.18M	-27.52M	-22.38M	-20.92M
EBITDA Margin %	-87.31%	-299.99%	-33.83%	-42.27%	-48.02%	-	-	-	-	-
EBITDA Growth %	0.27%	0.17%	0.22%	-0.21%	-0.37%	-0.33%	0.1%	0.14%	0.19%	0.07%
D&A (Non-Cash Add-back)	664K	633K	650.13K	633.53K	2.16M	499K	3.88M	3.96M	3.97M	3.89M
EBIT	-24.75M	-21.41M	-16.77M	-20.34M	-29.22M	-35.21M	-35.62M	-31.52M	-26.17M	-24.76M
Net Interest Income+	0	-4.03M	0	-1.8M	-1.04M	-1.15M	-1.08M	-674.74K	-745.67K	-648.94K
Interest Income	0	0	0	1.8K	1.04K	1.13K	1.08K	675	0	0
Interest Expense	0	4.03M	0	1.8M	1.04M	1.15M	1.08M	675.42K	745.67K	648.94K
Other Income/Expense	12.18M	7.04M	-15.06M	-1.94M	-1.27M	-166.98K	-637.89K	-718.23K	-567.99K	-601.32K
Pretax Income+	-11.47M	-14.36M	-31.84M	-22.13M	-30.26M	-36.36M	-36.7M	-32.19M	-26.92M	-25.41M
Pretax Margin %	-40.23%	-208.1%	-66.81%	-47.83%	-54.16%	-	-	-	-	-
Income Tax+	-14.09M	0	0	0	0	2.83M	1.57M	0	0	0
Effective Tax Rate %	1%	1%	1%	1.12%	1.07%	1.08%	1.04%	1.01%	1%	1%
Net Income+	-11.47M	-14.36M	-31.84M	-24.69M	-32.22M	-39.19M	-38.27M	-32.37M	-26.92M	-25.41M
Net Margin %	-40.23%	-208.1%	-66.81%	-53.36%	-57.68%	-	-	-	-	-
Net Income Growth %	0.67%	-0.25%	-1.22%	0.22%	-0.3%	-0.22%	0.02%	0.15%	0.17%	0.06%
Net Income (Continuing)	-11.51M	-14.36M	-31.84M	-22.13M	-30.26M	-36.71M	-37.63M	-32.19M	-26.92M	-25.41M
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)+	-62.40	-1638.00	-1685.10	-21.60	-26.40	-28.80	-26.70	-21.90	-13.50	-6.27
EPS Growth %	0.76%	-25.25%	-0.03%	0.99%	-0.22%	-0.09%	0.07%	0.18%	0.38%	0.54%
EPS (Basic)	-62.70	-1638.00	-1685.10	-21.60	-26.40	-28.80	-26.70	-21.90	-13.50	-6.27
Diluted Shares Outstanding	184.16K	8.77K	18.89K	1.14M	1.23M	1.36M	1.44M	1.48M	1.99M	4.06M
Basic Shares Outstanding	182.66K	8.77K	18.89K	1.14M	1.23M	1.36M	1.44M	1.48M	1.99M	4.06M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	5.89M	4.24M	11.44M	9.81M	17.7M	45.27M	25.44M	6.92M	6.06M	11.6B
Cash & Short-Term Investments	2.92M	2.37M	10.31M	8.44M	15.51M	42.21M	22.67M	4.15M	4.74M	10.95B
Cash Only	2.92M	2.37M	10.31M	8.44M	15.51M	36.06M	22.67M	4.15M	4.74M	10.95B
Short-Term Investments	0	0	0	0	0	6.15M	0	0	0	0
Accounts Receivable	394.51K	218.48K	118.66K	62.77K	54.92K	54.92K	0	0	0	0
Days Sales Outstanding	505.16	1.16K	90.88	49.51	35.88	-	-	-	-	-
Inventory	1.01M	672.52K	645.24K	782.36K	820.05K	2.01M	2M	2.25M	1.02M	0
Days Inventory Outstanding	21.1K	387.79	21.58K	22.56K	16.78K	1.47K	188.14	207.3	93.79	-
Other Current Assets	155K	150K	0	0	0	0	0	4.25K	3.5K	642.67M
Total Non-Current Assets+	5.71M	18.69M	18.15M	17.81M	22.84M	30.6M	25.09M	23.61M	20.94M	16.56B
Property, Plant & Equipment	226.22K	16.79M	16.22M	15.83M	20.85M	28.41M	24.71M	21.02M	16.98M	12.9B
Fixed Asset Turnover	1.26x	0.00x	0.03x	0.03x	0.03x	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	256.55K	223.17K	258.09K	311.59K	313.42K	275.87K	212.2K	197.7K	165.49K	119.86K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	5.23M	1.67M	1.67M	1.67M	1.67M	1.91M	164.3K	2.39M	3.79M	3.66B
Total Assets+	11.6M	22.92M	29.59M	27.62M	40.54M	75.87M	50.52M	30.53M	26.99M	28.16B
Asset Turnover	0.02x	0.00x	0.02x	0.02x	0.01x	-	-	-	-	-
Asset Growth %	-0.25%	0.98%	0.29%	-0.07%	0.47%	0.87%	-0.33%	-0.4%	-0.12%	1042.12%
Total Current Liabilities+	4.01M	10.84M	9.23M	3.02M	4.27M	3.94M	4.66M	5.59M	4.62M	5.13B
Accounts Payable	3.09M	8.2M	5.74M	1.59M	2.02M	1.68M	1.62M	2.01M	1.45M	1.06M
Days Payables Outstanding	64.68K	4.73K	192.1K	45.74K	41.39K	1.23K	152.1	185.32	133.2	99.71
Short-Term Debt	0	994.26K	0	0	0	0	0	0	2.24M	2.44B
Deferred Revenue (Current)	125K	125K	126.8K	125K	958.54K	1000K	0	0	0	0
Other Current Liabilities	416.59K	835.13K	3.15M	1.27M	-296.73K	-421.84K	471.49K	0	-1.87M	2.69B
Current Ratio	1.47x	0.39x	1.24x	3.25x	4.15x	11.50x	5.45x	1.24x	1.31x	2.26x
Quick Ratio	1.22x	0.33x	1.17x	2.99x	3.96x	10.99x	5.02x	0.84x	1.09x	2.26x
Cash Conversion Cycle	-43.07K	-3.18K	-170.43K	-23.14K	-24.58K	-	-	-	-	-
Total Non-Current Liabilities+	8.54M	15.42M	20.36M	19.47M	16.54M	15.4M	13.7M	11.73M	9.51M	7.07B
Long-Term Debt	0	0	0	0	0	0	0	0	0	6.94B
Capital Lease Obligations	13.01M	13.21M	13.38M	13.51M	12.87M	15.27M	13.57M	11.6M	9.38M	6.94M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	8.42M	2.08M	6.85M	5.84M	3.68M	125K	125K	125K	125K	125M
Total Liabilities	12.55M	26.26M	29.59M	22.49M	20.81M	19.34M	18.36M	17.31M	14.12M	12.2B
Total Debt+	13.01M	14.21M	13.38M	13.51M	13.94M	15.97M	15.3M	13.57M	11.62M	9.38B
Net Debt	10.09M	11.84M	3.07M	5.06M	-1.57M	-20.09M	-7.37M	9.43M	6.88M	-1.57B
Debt / Equity	-	-	14606.95x	2.63x	0.71x	0.28x	0.48x	1.03x	0.90x	0.59x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-5.29x	-	-11.24x	-27.82x	-31.49x	-33.36x	-46.60x	-35.34x	-38.23x
Total Equity+	-956.07K	-3.34M	916	5.13M	19.73M	56.53M	32.16M	13.21M	12.87M	15.96B
Equity Growth %	0.82%	-2.49%	1%	5603.44%	2.84%	1.87%	-0.43%	-0.59%	-0.03%	1239.15%
Book Value per Share	-5.19	-380.56	0.05	4.52	16.10	41.68	22.36	8.91	6.47	3934.45
Total Shareholders' Equity	-956.07K	-3.34M	916	5.13M	19.73M	56.53M	32.16M	13.21M	12.87M	15.96M
Common Stock	1.56M	119.03K	280.35K	352.32K	387.3K	432.07K	434.48K	474.22K	637.87K	80.16K
Retained Earnings	-285.67M	-299.75M	-331.59M	-353.73M	-381.84M	-418.2M	-454.9M	-487.09M	-514.01M	-539.42M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-23.08M	-13.79M	-13.39M	-16.32M	-15.28M	-18.79M	-18.24M	-22.85M	-18.81M	-17.12B
Operating CF Margin %	-80.98%	-199.82%	-28.1%	-35.27%	-27.34%	-	-	-	-	-
Operating CF Growth %	0.03%	0.4%	0.03%	-0.22%	0.06%	-0.23%	0.03%	-0.25%	0.18%	-909.08%
Net Income	-11.47M	-14.36M	-31.84M	-22.13M	-30.26M	-36.36M	-36.7M	-32.19M	-26.92M	-25.41B
Depreciation & Amortization	150.24K	632.91K	650.13K	633.53K	2.16M	2.23M	3.83M	3.96M	3.97M	3.89B
Stock-Based Compensation	2.28M	1.53M	2.89M	4.57M	10.28M	13.89M	12.38M	7.15M	4.27M	1.91B
Deferred Taxes	-14.01M	-11.01M	9.11M	760.6K	1.16M	713.62K	0	0	0	0
Other Non-Cash Items	751.65K	2.66M	8.53M	4.38M	2.63M	1.23M	480.12K	15.29K	1.08M	2.49B
Working Capital Changes	-779.41K	6.75M	-2.74M	-4.54M	-1.25M	-483.47K	2.54M	-1.78M	-1.21M	1.16M
Change in Receivables	521.54K	-129.31K	-257.35K	-308.25K	-471.1K	497.08K	54.92K	444.78K	0	0
Change in Inventory	393.2K	336.12K	27.28K	-137.13K	-37.69K	-1.19M	-159.43K	-156.73K	-172.61K	973.66K
Change in Payables	-2.39M	5.42M	-2.51M	-4.08M	-766.07K	445.98K	374.89K	257.85K	-460.58K	-442.71K
Cash from Investing+	-34.22K	-17K	-58.14K	-335.84K	-2.69M	-15.18M	5.49M	-372.26K	-108.09K	-38.11M
Capital Expenditures	-34.22K	-17K	-58.14K	-335.84K	-2.69M	-9.04M	-660.63K	-361.89K	-94.88K	-38.11M
CapEx % of Revenue	0.12%	0.25%	0.12%	0.73%	4.82%	-	-	-	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-3	-6	-57	-158	-40	-6.17K	6.13K	-10.37K	-13.21K	0
Cash from Financing+	20.31M	13.26M	21.39M	14.79M	25.04M	54.52M	-638.43K	4.69M	19.51M	23.37B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	9.6M	14.8M	11.84M	6.41M	-38.38K	-297.62K	-2.37M	23.35B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-23.12M	-13.81M	-13.45M	-16.66M	-17.97M	-27.83M	-18.9M	-23.22M	-18.91M	-17.16B
FCF Margin %	-81.1%	-200.07%	-28.22%	-35.99%	-32.17%	-	-	-	-	-
FCF Growth %	0.03%	0.4%	0.03%	-0.24%	-0.08%	-0.55%	0.32%	-0.23%	0.19%	-906.53%
FCF per Share	-125.52	-1574.81	-711.75	-14.66	-14.67	-20.51	-13.14	-15.66	-9.51	-4230.51
FCF Conversion (FCF/Net Income)	2.01x	0.96x	0.42x	0.66x	0.47x	0.48x	0.48x	0.71x	0.70x	673.71x
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	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-3475677.4%	-961.82%	-259.23%	-102.77%	-86.29%	-142.65%	-206.43%	-0.32%
Return on Invested Capital (ROIC)	-209.75%	-181.48%	-217.43%	-228.32%	-153.35%	-99.43%	-88.33%	-99.53%	-93.25%	-0.26%
Gross Margin	93.88%	-817.13%	97.71%	97.26%	96.81%	-	-	-	-	-
Net Margin	-4022.56%	-20810.33%	-6680.68%	-5336.04%	-5767.93%	-	-	-	-	-
Debt / Equity	-	-	14606.95x	2.63x	0.71x	0.28x	0.48x	1.03x	0.90x	0.59x
Interest Coverage	-	-5.29x	-	-11.24x	-27.82x	-31.49x	-33.36x	-46.60x	-35.34x	-38.23x
FCF Conversion	2.01x	0.96x	0.42x	0.66x	0.47x	0.48x	0.48x	0.71x	0.70x	673.71x
Revenue Growth	-56.64%	-75.79%	590.46%	-2.9%	20.73%	-100%	-	-	-	-

Frequently Asked Questions

Growth & Financials

CEL-SCI Corporation (CVM) grew revenue by 0.0% over the past year. Growth has been modest.

CEL-SCI Corporation (CVM) reported a net loss of $25.4M for fiscal year 2025.

Dividend & Returns

CEL-SCI Corporation (CVM) has a return on equity (ROE) of -0.3%. Negative ROE indicates the company is unprofitable.

CEL-SCI Corporation (CVM) had negative free cash flow of $17.2M in fiscal year 2025, likely due to heavy capital investments.

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CEL-SCI Corporation (CVM) 10-Year Financial Performance & Capital Metrics

CVM • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsSolid Tumor Oncology

Revenue $0
EBITDA -$21M +6.5%
Net Income -$25M +5.6%
EPS (Diluted) -6.27 +53.6%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -0.32% +99.8%
ROIC -0.26% +99.7%
Debt/Equity 0.59 -34.9%
Interest Coverage -38.23 -8.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Trading at only 0.0x book value

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Weak momentum: RS Rating 19 (bottom 19%)
✗Shares diluted 100.0% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-100%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM5.61%

EPS CAGR

10Y-

5Y-

3Y-

TTM49.67%

ROCE

10Y Avg-114.99%

5Y Avg-65.73%

3Y Avg-66.84%

Latest-0.22%

Peer Comparison

Solid Tumor Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TLXTelix Pharmaceuticals Limited	2.49B	7.43	53.07	55.85%	3.98%	15.63%	0.36%	1.02
EXELExelixis, Inc.	12.18B	45.44	25.82	18.49%	29.63%	31.37%	5.2%	0.09
BBOTBridgeBio Oncology Therapeutics Inc.	919.87M	11.50	25			-25.73%
INBXInhibrx Biosciences, Inc.	1.04B	71.80	0.62	-88.89%	-110.78%	-421.09%		0.06
NUVBNuvation Bio Inc.	2.1B	6.14	-2.91		-8.13%	-66.74%		0.02
RLAYRelay Therapeutics, Inc.	1.32B	7.63	-3.23	-60.83%	-26.71%	-48.97%		0.06
ORICORIC Pharmaceuticals, Inc.	1.12B	11.52	-6.30			-33.24%		0.01
ZLABZai Lab Limited	2.09B	18.82	-7.24	49.59%	-46.83%	-27.21%		0.18

Profit & Loss

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Sales/Revenue+	285.06K	69.02K	476.56K	462.75K	558.66K	0	0	0	0	0
Revenue Growth %	-0.57%	-0.76%	5.9%	-0.03%	0.21%	-1%	-	-	-	-
Cost of Goods Sold+	17.45K	633K	10.91K	12.66K	17.84K	499K	3.88M	3.96M	3.97M	3.89M
COGS % of Revenue	0.06%	9.17%	0.02%	0.03%	0.03%	-	-	-	-	-
Gross Profit+	267.61K	-563.98K	465.64K	450.1K	540.82K	-499K	-3.88M	-3.96M	-3.97M	-3.89M
Gross Margin %	0.94%	-8.17%	0.98%	0.97%	0.97%	-	-	-	-	-
Gross Profit Growth %	-0.58%	-3.11%	1.83%	-0.03%	0.2%	-1.92%	-6.78%	-0.02%	-0%	0.02%
Operating Expenses+	25.55M	21.34M	16.77M	20.2M	28.99M	36.19M	36.06M	31.48M	22.38M	20.92M
OpEx % of Revenue	89.64%	309.16%	35.19%	43.64%	51.88%	-	-	-	-	-
Selling, General & Admin	6.49M	5.8M	7.85M	8M	11.7M	13.09M	10.71M	9M	4.22M	5.04M
SG&A % of Revenue	22.76%	84.04%	16.47%	17.28%	20.95%	-	-	-	-	-
Research & Development	19.35M	15.61M	9.4M	12.66M	17.84M	23.11M	25.36M	22.47M	18.16M	15.89M
R&D % of Revenue	67.89%	226.12%	19.73%	27.36%	31.93%	-	-	-	-	-
Other Operating Expenses	-285.06K	-69.02K	70.9K	-462.75K	-558.66K	1.68M	76.36K	-22.47M	0	0
Operating Income+	-25.55M	-21.34M	-16.77M	-20.2M	-28.99M	-36.19M	-36.06M	-31.48M	-26.35M	-24.81M
Operating Margin %	-89.64%	-309.16%	-35.19%	-43.64%	-51.88%	-	-	-	-	-
Operating Income Growth %	0.25%	0.16%	0.21%	-0.2%	-0.44%	-0.25%	0%	0.13%	0.16%	0.06%
EBITDA+	-24.89M	-20.71M	-16.12M	-19.56M	-26.83M	-35.7M	-32.18M	-27.52M	-22.38M	-20.92M
EBITDA Margin %	-87.31%	-299.99%	-33.83%	-42.27%	-48.02%	-	-	-	-	-
EBITDA Growth %	0.27%	0.17%	0.22%	-0.21%	-0.37%	-0.33%	0.1%	0.14%	0.19%	0.07%
D&A (Non-Cash Add-back)	664K	633K	650.13K	633.53K	2.16M	499K	3.88M	3.96M	3.97M	3.89M
EBIT	-24.75M	-21.41M	-16.77M	-20.34M	-29.22M	-35.21M	-35.62M	-31.52M	-26.17M	-24.76M
Net Interest Income+	0	-4.03M	0	-1.8M	-1.04M	-1.15M	-1.08M	-674.74K	-745.67K	-648.94K
Interest Income	0	0	0	1.8K	1.04K	1.13K	1.08K	675	0	0
Interest Expense	0	4.03M	0	1.8M	1.04M	1.15M	1.08M	675.42K	745.67K	648.94K
Other Income/Expense	12.18M	7.04M	-15.06M	-1.94M	-1.27M	-166.98K	-637.89K	-718.23K	-567.99K	-601.32K
Pretax Income+	-11.47M	-14.36M	-31.84M	-22.13M	-30.26M	-36.36M	-36.7M	-32.19M	-26.92M	-25.41M
Pretax Margin %	-40.23%	-208.1%	-66.81%	-47.83%	-54.16%	-	-	-	-	-
Income Tax+	-14.09M	0	0	0	0	2.83M	1.57M	0	0	0
Effective Tax Rate %	1%	1%	1%	1.12%	1.07%	1.08%	1.04%	1.01%	1%	1%
Net Income+	-11.47M	-14.36M	-31.84M	-24.69M	-32.22M	-39.19M	-38.27M	-32.37M	-26.92M	-25.41M
Net Margin %	-40.23%	-208.1%	-66.81%	-53.36%	-57.68%	-	-	-	-	-
Net Income Growth %	0.67%	-0.25%	-1.22%	0.22%	-0.3%	-0.22%	0.02%	0.15%	0.17%	0.06%
Net Income (Continuing)	-11.51M	-14.36M	-31.84M	-22.13M	-30.26M	-36.71M	-37.63M	-32.19M	-26.92M	-25.41M
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)+	-62.40	-1638.00	-1685.10	-21.60	-26.40	-28.80	-26.70	-21.90	-13.50	-6.27
EPS Growth %	0.76%	-25.25%	-0.03%	0.99%	-0.22%	-0.09%	0.07%	0.18%	0.38%	0.54%
EPS (Basic)	-62.70	-1638.00	-1685.10	-21.60	-26.40	-28.80	-26.70	-21.90	-13.50	-6.27
Diluted Shares Outstanding	184.16K	8.77K	18.89K	1.14M	1.23M	1.36M	1.44M	1.48M	1.99M	4.06M
Basic Shares Outstanding	182.66K	8.77K	18.89K	1.14M	1.23M	1.36M	1.44M	1.48M	1.99M	4.06M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Total Current Assets+	5.89M	4.24M	11.44M	9.81M	17.7M	45.27M	25.44M	6.92M	6.06M	11.6B
Cash & Short-Term Investments	2.92M	2.37M	10.31M	8.44M	15.51M	42.21M	22.67M	4.15M	4.74M	10.95B
Cash Only	2.92M	2.37M	10.31M	8.44M	15.51M	36.06M	22.67M	4.15M	4.74M	10.95B
Short-Term Investments	0	0	0	0	0	6.15M	0	0	0	0
Accounts Receivable	394.51K	218.48K	118.66K	62.77K	54.92K	54.92K	0	0	0	0
Days Sales Outstanding	505.16	1.16K	90.88	49.51	35.88	-	-	-	-	-
Inventory	1.01M	672.52K	645.24K	782.36K	820.05K	2.01M	2M	2.25M	1.02M	0
Days Inventory Outstanding	21.1K	387.79	21.58K	22.56K	16.78K	1.47K	188.14	207.3	93.79	-
Other Current Assets	155K	150K	0	0	0	0	0	4.25K	3.5K	642.67M
Total Non-Current Assets+	5.71M	18.69M	18.15M	17.81M	22.84M	30.6M	25.09M	23.61M	20.94M	16.56B
Property, Plant & Equipment	226.22K	16.79M	16.22M	15.83M	20.85M	28.41M	24.71M	21.02M	16.98M	12.9B
Fixed Asset Turnover	1.26x	0.00x	0.03x	0.03x	0.03x	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	256.55K	223.17K	258.09K	311.59K	313.42K	275.87K	212.2K	197.7K	165.49K	119.86K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	5.23M	1.67M	1.67M	1.67M	1.67M	1.91M	164.3K	2.39M	3.79M	3.66B
Total Assets+	11.6M	22.92M	29.59M	27.62M	40.54M	75.87M	50.52M	30.53M	26.99M	28.16B
Asset Turnover	0.02x	0.00x	0.02x	0.02x	0.01x	-	-	-	-	-
Asset Growth %	-0.25%	0.98%	0.29%	-0.07%	0.47%	0.87%	-0.33%	-0.4%	-0.12%	1042.12%
Total Current Liabilities+	4.01M	10.84M	9.23M	3.02M	4.27M	3.94M	4.66M	5.59M	4.62M	5.13B
Accounts Payable	3.09M	8.2M	5.74M	1.59M	2.02M	1.68M	1.62M	2.01M	1.45M	1.06M
Days Payables Outstanding	64.68K	4.73K	192.1K	45.74K	41.39K	1.23K	152.1	185.32	133.2	99.71
Short-Term Debt	0	994.26K	0	0	0	0	0	0	2.24M	2.44B
Deferred Revenue (Current)	125K	125K	126.8K	125K	958.54K	1000K	0	0	0	0
Other Current Liabilities	416.59K	835.13K	3.15M	1.27M	-296.73K	-421.84K	471.49K	0	-1.87M	2.69B
Current Ratio	1.47x	0.39x	1.24x	3.25x	4.15x	11.50x	5.45x	1.24x	1.31x	2.26x
Quick Ratio	1.22x	0.33x	1.17x	2.99x	3.96x	10.99x	5.02x	0.84x	1.09x	2.26x
Cash Conversion Cycle	-43.07K	-3.18K	-170.43K	-23.14K	-24.58K	-	-	-	-	-
Total Non-Current Liabilities+	8.54M	15.42M	20.36M	19.47M	16.54M	15.4M	13.7M	11.73M	9.51M	7.07B
Long-Term Debt	0	0	0	0	0	0	0	0	0	6.94B
Capital Lease Obligations	13.01M	13.21M	13.38M	13.51M	12.87M	15.27M	13.57M	11.6M	9.38M	6.94M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	8.42M	2.08M	6.85M	5.84M	3.68M	125K	125K	125K	125K	125M
Total Liabilities	12.55M	26.26M	29.59M	22.49M	20.81M	19.34M	18.36M	17.31M	14.12M	12.2B
Total Debt+	13.01M	14.21M	13.38M	13.51M	13.94M	15.97M	15.3M	13.57M	11.62M	9.38B
Net Debt	10.09M	11.84M	3.07M	5.06M	-1.57M	-20.09M	-7.37M	9.43M	6.88M	-1.57B
Debt / Equity	-	-	14606.95x	2.63x	0.71x	0.28x	0.48x	1.03x	0.90x	0.59x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-5.29x	-	-11.24x	-27.82x	-31.49x	-33.36x	-46.60x	-35.34x	-38.23x
Total Equity+	-956.07K	-3.34M	916	5.13M	19.73M	56.53M	32.16M	13.21M	12.87M	15.96B
Equity Growth %	0.82%	-2.49%	1%	5603.44%	2.84%	1.87%	-0.43%	-0.59%	-0.03%	1239.15%
Book Value per Share	-5.19	-380.56	0.05	4.52	16.10	41.68	22.36	8.91	6.47	3934.45
Total Shareholders' Equity	-956.07K	-3.34M	916	5.13M	19.73M	56.53M	32.16M	13.21M	12.87M	15.96M
Common Stock	1.56M	119.03K	280.35K	352.32K	387.3K	432.07K	434.48K	474.22K	637.87K	80.16K
Retained Earnings	-285.67M	-299.75M	-331.59M	-353.73M	-381.84M	-418.2M	-454.9M	-487.09M	-514.01M	-539.42M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Sep 2016	Sep 2017	Sep 2018	Sep 2019	Sep 2020	Sep 2021	Sep 2022	Sep 2023	Sep 2024	Sep 2025
Cash from Operations+	-23.08M	-13.79M	-13.39M	-16.32M	-15.28M	-18.79M	-18.24M	-22.85M	-18.81M	-17.12B
Operating CF Margin %	-80.98%	-199.82%	-28.1%	-35.27%	-27.34%	-	-	-	-	-
Operating CF Growth %	0.03%	0.4%	0.03%	-0.22%	0.06%	-0.23%	0.03%	-0.25%	0.18%	-909.08%
Net Income	-11.47M	-14.36M	-31.84M	-22.13M	-30.26M	-36.36M	-36.7M	-32.19M	-26.92M	-25.41B
Depreciation & Amortization	150.24K	632.91K	650.13K	633.53K	2.16M	2.23M	3.83M	3.96M	3.97M	3.89B
Stock-Based Compensation	2.28M	1.53M	2.89M	4.57M	10.28M	13.89M	12.38M	7.15M	4.27M	1.91B
Deferred Taxes	-14.01M	-11.01M	9.11M	760.6K	1.16M	713.62K	0	0	0	0
Other Non-Cash Items	751.65K	2.66M	8.53M	4.38M	2.63M	1.23M	480.12K	15.29K	1.08M	2.49B
Working Capital Changes	-779.41K	6.75M	-2.74M	-4.54M	-1.25M	-483.47K	2.54M	-1.78M	-1.21M	1.16M
Change in Receivables	521.54K	-129.31K	-257.35K	-308.25K	-471.1K	497.08K	54.92K	444.78K	0	0
Change in Inventory	393.2K	336.12K	27.28K	-137.13K	-37.69K	-1.19M	-159.43K	-156.73K	-172.61K	973.66K
Change in Payables	-2.39M	5.42M	-2.51M	-4.08M	-766.07K	445.98K	374.89K	257.85K	-460.58K	-442.71K
Cash from Investing+	-34.22K	-17K	-58.14K	-335.84K	-2.69M	-15.18M	5.49M	-372.26K	-108.09K	-38.11M
Capital Expenditures	-34.22K	-17K	-58.14K	-335.84K	-2.69M	-9.04M	-660.63K	-361.89K	-94.88K	-38.11M
CapEx % of Revenue	0.12%	0.25%	0.12%	0.73%	4.82%	-	-	-	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-3	-6	-57	-158	-40	-6.17K	6.13K	-10.37K	-13.21K	0
Cash from Financing+	20.31M	13.26M	21.39M	14.79M	25.04M	54.52M	-638.43K	4.69M	19.51M	23.37B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	9.6M	14.8M	11.84M	6.41M	-38.38K	-297.62K	-2.37M	23.35B
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-23.12M	-13.81M	-13.45M	-16.66M	-17.97M	-27.83M	-18.9M	-23.22M	-18.91M	-17.16B
FCF Margin %	-81.1%	-200.07%	-28.22%	-35.99%	-32.17%	-	-	-	-	-
FCF Growth %	0.03%	0.4%	0.03%	-0.24%	-0.08%	-0.55%	0.32%	-0.23%	0.19%	-906.53%
FCF per Share	-125.52	-1574.81	-711.75	-14.66	-14.67	-20.51	-13.14	-15.66	-9.51	-4230.51
FCF Conversion (FCF/Net Income)	2.01x	0.96x	0.42x	0.66x	0.47x	0.48x	0.48x	0.71x	0.70x	673.71x
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	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-	-	-3475677.4%	-961.82%	-259.23%	-102.77%	-86.29%	-142.65%	-206.43%	-0.32%
Return on Invested Capital (ROIC)	-209.75%	-181.48%	-217.43%	-228.32%	-153.35%	-99.43%	-88.33%	-99.53%	-93.25%	-0.26%
Gross Margin	93.88%	-817.13%	97.71%	97.26%	96.81%	-	-	-	-	-
Net Margin	-4022.56%	-20810.33%	-6680.68%	-5336.04%	-5767.93%	-	-	-	-	-
Debt / Equity	-	-	14606.95x	2.63x	0.71x	0.28x	0.48x	1.03x	0.90x	0.59x
Interest Coverage	-	-5.29x	-	-11.24x	-27.82x	-31.49x	-33.36x	-46.60x	-35.34x	-38.23x
FCF Conversion	2.01x	0.96x	0.42x	0.66x	0.47x	0.48x	0.48x	0.71x	0.70x	673.71x
Revenue Growth	-56.64%	-75.79%	590.46%	-2.9%	20.73%	-100%	-	-	-	-

Frequently Asked Questions

Growth & Financials

CEL-SCI Corporation (CVM) grew revenue by 0.0% over the past year. Growth has been modest.

CEL-SCI Corporation (CVM) reported a net loss of $25.4M for fiscal year 2025.

Dividend & Returns

CEL-SCI Corporation (CVM) has a return on equity (ROE) of -0.3%. Negative ROE indicates the company is unprofitable.

CEL-SCI Corporation (CVM) had negative free cash flow of $17.2M in fiscal year 2025, likely due to heavy capital investments.