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FBRX logoForte Biosciences, Inc.(FBRX)Earnings, Financials & Key Ratios

FBRX•NASDAQ
$26.17
$76M mkt cap·Price updated May 7, 2026
SectorHealthcareIndustryBiotechnologySub-IndustryImmunology and Inflammation Therapies
AboutForte Biosciences, Inc. operates as a clinical-stage biopharmaceutical company in the United States. It is developing FB-102 program that addresses various autoimmune diseases, such as vitiligo and alopecia areata. The company is headquartered in Dallas, Texas.Show more
  • Revenue$0
  • EBITDA-$37M-12.6%
  • Net Income-$35M-12.7%
  • EPS (Diluted)-12.17+51.2%
  • ROE-80.82%+4.8%
  • ROIC-102.45%+55.7%
Technical→

FBRX Key Insights

Forte Biosciences, Inc. (FBRX) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 90 (top 10%)
  • ✓Trading at only 1.5x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Shares diluted 100.0% in last year
  • ✗Low asset turnover indicates capital-intensive operations

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

FBRX Price & Volume

Forte Biosciences, Inc. (FBRX) stock price & volume — 10-year historical chart

Loading chart...

FBRX Growth Metrics

Forte Biosciences, Inc. (FBRX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years-
5 Years-
3 Years-
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-51.31%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM77.94%

Return on Capital

10 Years-55.95%
5 Years-58.46%
3 Years-68.54%
Last Year-83.38%

FBRX Recent Earnings

Forte Biosciences, Inc. (FBRX) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 5/12 qtrs (50%)
Q2 2026Latest
Mar 31, 2026
EPS
$1.45
Est $1.42
-2.1%
Revenue
—
Q4 2025
Nov 14, 2025
EPS
$0.99
Est $1.04
+4.8%
Revenue
—
Q3 2025
Aug 14, 2025
EPS
$0.96
Est $1.21
+20.7%
Revenue
—
Q2 2025
May 15, 2025
EPS
$1.37
Est $0.89
-53.9%
Revenue
—
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 31, 2026
$1.45vs $1.42-2.1%
—
Q4 2025Nov 14, 2025
$0.99vs $1.04+4.8%
—
Q3 2025Aug 14, 2025
$0.96vs $1.21+20.7%
—
Q2 2025May 15, 2025
$1.37vs $0.89-53.9%
—
Based on last 12 quarters of dataView full earnings history →

FBRX Peer Comparison

Forte Biosciences, Inc. (FBRX) competitors in Immunology and Inflammation Therapies — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ETON logoETONEton Pharmaceuticals, Inc.Direct Competitor839M31.02-182.47104.94%-5.75%-18.84%0.35
PRAX logoPRAXPraxis Precision Medicines, Inc.Direct Competitor9.63B333.28-24.72-100%-43.02%0.00
SLDB logoSLDBSolid Biosciences Inc.Direct Competitor550.63M7.07-3.55-73.63%0.12
TARS logoTARSTarsus Pharmaceuticals, Inc.Direct Competitor2.72B63.96-40.23146.71%-9.02%-14.19%0.27
NUVL logoNUVLNuvalent, Inc.Direct Competitor7.53B102.40-17.50-42.78%
DERM logoDERMJourney Medical CorporationProduct Competitor102.16M5.00-6.94-29.11%-15.49%-45.4%1.28
ACLX logoACLXArcellx, Inc.Product Competitor6.73B115.07-28.27-79.35%-10.27%-55.42%0.24
RCKT logoRCKTRocket Pharmaceuticals, Inc.Product Competitor397.53M3.67-1.83-80.49%0.09

Compare FBRX vs Peers

Forte Biosciences, Inc. (FBRX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ETON

Most directly comparable listed peer for FBRX.

Scale Benchmark

vs ABBV

Larger-name benchmark to compare FBRX against a more recognizable public peer.

Peer Set

Compare Top 5

vs ETON, PRAX, SLDB, TARS

FBRX Income Statement

Forte Biosciences, Inc. (FBRX) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Sales/Revenue49K41K18.04M0000000
Revenue Growth %-3.92%-16.33%43890.24%-100%------
Cost of Goods Sold00011K54K36K09K39K55K
COGS % of Revenue----------
Gross Profit
49K▲ 0%
41K▼ 16.3%
18.04M▲ 43890.2%
-11K▼ 100.1%
-54K▼ 390.9%
-36K▲ 33.3%
0▲ 100.0%
-9K▲ 0%
-39K▼ 333.3%
-55K▲ 0%
Gross Margin %100%100%100%-------
Gross Profit Growth %-3.92%-16.33%43890.24%-100.06%-390.91%33.33%100%--333.33%-
Operating Expenses31.48M37.38M63.26M4.05M14.17M21.49M13.9M32.48M36.56M53.38M
OpEx % of Revenue64255.1%91165.85%350.77%-------
Selling, General & Admin4.27M8.27M12.81M1.38M4.22M7.63M8.3M10.62M15.37M11.69M
SG&A % of Revenue8708.16%20158.54%71.02%-------
Research & Development27.22M29.11M50.45M2.67M9.95M13.85M5.59M21.86M21.19M41.44M
R&D % of Revenue55546.94%71007.32%279.75%-------
Other Operating Expenses-50K0000017K00300K
Operating Income
-31.69M▲ 0%
-37.63M▼ 18.7%
-45.85M▼ 21.9%
-4.06M▲ 91.1%
-14.22M▼ 250.0%
-21.49M▼ 51.0%
-13.9M▲ 35.3%
-32.49M▼ 133.8%
-36.6M▼ 12.7%
-53.44M▲ 0%
Operating Margin %-64675.51%-91778.05%-254.23%-------
Operating Income Growth %-38.06%-18.74%-21.86%91.14%-250.02%-51.04%35.33%-133.78%-12.67%-
EBITDA-31.44M-37.34M-45.23M-4.05M-14.17M-21.45M-13.86M-32.48M-36.56M-53.38M
EBITDA Margin %-64155.1%-91065.85%-250.77%-------
EBITDA Growth %-38.35%-18.77%-21.13%91.04%-249.64%-51.37%35.38%-134.32%-12.58%-49.96%
D&A (Non-Cash Add-back)255K292K625K11K54K36K36K9K39K55K
EBIT-31.43M-37M-44.32M-4.07M-46.49M-21.49M-13.9M-32.49M-35.48M-52.54M
Net Interest Income01.9M-173.38K00001.12M1.31M1.31M
Interest Income0595K000001.12M1.31M1.31M
Interest Expense-1.84M1.93M173.38K0000000
Other Income/Expense-1.79M-1.3M-1.4M-5K-32.26M-222K17K1.01M1.12M1.7M
Pretax Income
-33.48M▲ 0%
-38.93M▼ 16.3%
-47.26M▼ 21.4%
-4.07M▲ 91.4%
-46.49M▼ 1042.5%
-21.71M▲ 53.3%
-13.88M▲ 36.1%
-31.48M▼ 126.8%
-35.48M▼ 12.7%
-51.74M▲ 0%
Pretax Margin %-68322.45%-94948.78%-262.01%-------
Income Tax001.7M0000000
Effective Tax Rate %0%0%-3.6%0%0%0%0%0%0%0%
Net Income
-33.48M▲ 0%
-38.93M▼ 16.3%
-48.95M▼ 25.8%
-4.07M▲ 91.7%
-46.49M▼ 1042.5%
-21.71M▲ 53.3%
-13.86M▲ 36.1%
-31.48M▼ 127.1%
-35.48M▼ 12.7%
-51.74M▲ 0%
Net Margin %-68322.45%-94948.78%-271.43%-------
Net Income Growth %-45.2%-16.28%-25.75%91.69%-1042.47%53.3%36.14%-127.07%-12.71%-51.31%
Net Income (Continuing)-33.48M-38.93M-48.95M-4.07M-46.49M-21.71M-13.88M-31.48M-35.48M-51.74M
Discontinued Operations0000000000
Minority Interest0000000000
EPS (Diluted)
-634.80▲ 0%
-997.50▼ 57.1%
-915.18▲ 8.3%
-48.25▲ 94.7%
-157.93▼ 227.3%
-38.85▲ 75.4%
-19.96▲ 48.6%
-24.92▼ 24.8%
-12.17▲ 51.2%
-2.91▲ 0%
EPS Growth %-33.88%-57.14%8.25%94.73%-227.3%75.4%48.63%-24.85%51.16%77.94%
EPS (Basic)-634.80-997.50-915.18-48.25-157.93-38.85-19.96-24.92-12.17-
Diluted Shares Outstanding52.74K38.95K53.49K84.33K294.36K558.71K695.34K1.26M2.92M17.79M
Basic Shares Outstanding52.74K38.95K53.49K84.33K294.36K558.71K695.34K1.26M2.92M17.79M
Dividend Payout Ratio----------

FBRX Balance Sheet

Forte Biosciences, Inc. (FBRX) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Total Current Assets32.46M90.63M97.75M7.51M59.9M42.52M41.51M38.33M61.35M95.41M
Cash & Short-Term Investments31.25M88.72M96.09M6.94M58.77M42.04M41.1M37.13M58.37M93.41M
Cash Only5.51M35.93M40.81M6.94M58.77M42.04M41.1M11.96M22.24M93.41M
Short-Term Investments25.73M52.79M55.27M000025.16M36.12M0
Accounts Receivable0000000000
Days Sales Outstanding----------
Inventory0000000000
Days Inventory Outstanding----------
Other Current Assets1.22M1.9M1.66M3K76K89K70K165K336K2M
Total Non-Current Assets2.89M1.44M5.33M152K1.34M786K486K653K215K1.68M
Property, Plant & Equipment743K1.22M3.97M152K97K00109K77K148K
Fixed Asset Turnover0.07x0.03x4.54x------0.00x
Goodwill0000000000
Intangible Assets0000000000
Long-Term Investments0000000000
Other Non-Current Assets2.15M227K1.36M01.24M786K486K544K138K1.9M
Total Assets
35.35M▲ 0%
92.07M▲ 160.5%
103.08M▲ 12.0%
7.66M▼ 92.6%
61.24M▲ 699.7%
43.31M▼ 29.3%
42M▼ 3.0%
38.98M▼ 7.2%
61.56M▲ 57.9%
97.09M▲ 0%
Asset Turnover0.00x0.00x0.17x------0.00x
Asset Growth %-43.14%160.45%11.96%-92.57%699.67%-29.28%-3.02%-7.18%57.93%860.48%
Total Current Liabilities14.38M17.33M16.53M1.91M2.26M1.76M3.18M3.67M9.08M12.99M
Accounts Payable1.67M1.95M78.38K1.57M1.24M946K1.15M1.42M4.88M5.49M
Days Payables Outstanding---52.06K8.38K9.59K-57.75K45.66K34.33K
Short-Term Debt7.2M7.2M00000000
Deferred Revenue (Current)79K59K36K0000000
Other Current Liabilities4.71M8.12M10.25M168K00890K947K1.55M7.5M
Current Ratio2.26x5.23x5.91x3.93x26.52x24.19x13.06x10.45x6.76x6.76x
Quick Ratio2.26x5.23x5.91x3.93x26.52x24.19x13.06x10.45x6.76x6.76x
Cash Conversion Cycle----------
Total Non-Current Liabilities13.97M3.66M28.4M0000000
Long-Term Debt13.78M3.63M26.2M0000000
Capital Lease Obligations0000000000
Deferred Tax Liabilities0-36K00000000
Other Non-Current Liabilities126K02.2M0000000
Total Liabilities28.36M20.99M44.94M1.91M2.26M1.76M3.18M3.67M9.08M12.99M
Total Debt20.98M10.82M26.2M0000000
Net Debt15.47M-25.11M-14.61M-6.94M-58.77M-42.04M-41.1M-11.96M-22.24M-93.41M
Debt / Equity3.00x0.15x0.45x------0.00x
Debt / EBITDA----------0.00x
Net Debt / EBITDA---------1.75x
Interest Coverage--19.48x-264.47x-------
Total Equity
7M▲ 0%
71.08M▲ 916.0%
58.15M▼ 18.2%
5.75M▼ 90.1%
58.98M▲ 926.5%
41.55M▼ 29.6%
38.82M▼ 6.6%
35.31M▼ 9.0%
52.48M▲ 48.6%
84.1M▲ 0%
Equity Growth %-82.1%916.04%-18.2%-90.12%926.45%-29.56%-6.57%-9.03%48.61%1361.88%
Book Value per Share132.661824.811086.9868.14200.3774.3655.8327.9618.004.73
Total Shareholders' Equity7M71.08M58.15M5.75M58.98M41.55M38.82M35.31M52.48M84.1M
Common Stock2K20K23K2K13K15K21K36K6K13K
Retained Earnings-128M-166.93M-215.88M-4.97M-51.46M-73.17M-87.04M-118.52M-154M-198.59M
Treasury Stock0000000000
Accumulated OCI-2.41M-34K-23K0-61.24M-43.31M04K11K-6K
Minority Interest0000000000

FBRX Cash Flow Statement

Forte Biosciences, Inc. (FBRX) cash flow — operating, investing & free cash flow history

Line itemDec'16Dec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24TTM
Cash from Operations-29.54M-31.13M-34.47M-2.77M-18.42M-16.68M-8.19M-28.71M-30.75M-30.75M
Operating CF Margin %-60283.67%-75934.15%-191.11%-------
Operating CF Growth %-40.38%-5.4%-10.72%91.96%-564.85%9.48%50.92%-250.71%-7.1%-208.54%
Net Income-33.48M-38.93M-48.95M-4.07M-46.49M-21.71M-13.88M-31.48M-35.48M-51.74M
Depreciation & Amortization255K292K625K11K54K36K09K39K55K
Stock-Based Compensation04.45M6.87M0956K04.01M3.28M3.1M3.81M
Deferred Taxes0-4.45M-6.87M0000000
Other Non-Cash Items1.74M5.26M7.77M36K30.89M4.28M0-131K-158K1.08M
Working Capital Changes1.87M2.52M6.08M1.25M-3.83M720K1.68M-392K1.76M2.37M
Change in Receivables0000000000
Change in Inventory0000000000
Change in Payables586K304K1.26M976K-369K-294K207K271K3.02M332K
Cash from Investing24.57M-27.71M-4.19M-162K3.58M0047K-35.99M247K
Capital Expenditures-525K-655K-1.97M-162K000-88K-37K-147K
CapEx % of Revenue1071.43%1597.56%10.91%-------
Acquisitions020K2.22M03.58K00000
Investments----------
Other Investing25.09M-27.05M-2.22M03.58M00000
Cash from Financing2.33M89.26M43.54M4.86M66.67M-44K7.24M24.68M51.86M121.23M
Debt Issued (Net)2.91M138K23.32M0000000
Equity Issued (Net)10K1000K1000K1000K1000K62K1000K1000K1000K2M
Dividends Paid0000000000
Share Repurchases3.38M89K000000-1K-2K
Other Financing-592K0-8.63M0-32K-106K12K-44K-1.14M-1.15M
Net Change in Cash
-2.64M▲ 0%
30.42M▲ 1252.4%
4.88M▼ 84.0%
-33.87M▼ 794.1%
51.83M▲ 253.0%
-16.72M▼ 132.3%
-944K▲ 94.4%
-3.98M▼ 321.1%
-14.88M▼ 274.4%
77.05M▲ 0%
Free Cash Flow
-30.06M▲ 0%
-31.79M▼ 5.7%
-36.44M▼ 14.6%
-2.93M▲ 92.0%
-18.42M▼ 528.1%
-16.68M▲ 9.5%
-8.19M▲ 50.9%
-28.79M▼ 251.8%
-30.78M▼ 6.9%
-44.57M▲ 0%
FCF Margin %-61355.1%-77531.71%-202.02%-------
FCF Growth %-41.32%-5.73%-14.63%91.95%-528.13%9.48%50.92%-251.79%-6.9%-49.93%
FCF per Share-570.06-816.06-681.17-34.78-62.59-29.85-11.77-22.80-10.56-10.56
FCF Conversion (FCF/Net Income)0.88x0.80x0.70x0.68x0.40x0.77x0.59x0.91x0.87x0.86x
Interest Paid0000000000
Taxes Paid0000000000

FBRX Key Ratios

Forte Biosciences, Inc. (FBRX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric201620172018201920202021202220232024TTM
Return on Equity (ROE)-145.31%-99.72%-75.77%-12.74%-143.64%-43.19%-34.5%-84.92%-80.82%-61.53%
Return on Invested Capital (ROIC)-67.07%-82.47%-76.84%-14.4%----231.26%-102.45%-102.45%
Gross Margin100%100%100%-------
Net Margin-68322.45%-94948.78%-271.43%-------
Debt / Equity3.00x0.15x0.45x------0.00x
Interest Coverage--19.48x-264.47x-------
FCF Conversion0.88x0.80x0.70x0.68x0.40x0.77x0.59x0.91x0.87x0.86x
Revenue Growth-3.92%-16.33%43890.24%-100%------

FBRX Frequently Asked Questions

Forte Biosciences, Inc. (FBRX) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

Forte Biosciences, Inc. (FBRX) grew revenue by 0.0% over the past year. Growth has been modest.

Forte Biosciences, Inc. (FBRX) reported a net loss of $51.7M for fiscal year 2024.

Dividend & Returns

Forte Biosciences, Inc. (FBRX) has a return on equity (ROE) of -80.8%. Negative ROE indicates the company is unprofitable.

Forte Biosciences, Inc. (FBRX) had negative free cash flow of $44.6M in fiscal year 2024, likely due to heavy capital investments.

Explore More FBRX

Forte Biosciences, Inc. (FBRX) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

→

Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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