Forte Biosciences, Inc. (FBRX) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Forte Biosciences, Inc. (FBRX) stock price & volume — 10-year historical chart
Forte Biosciences, Inc. (FBRX) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Forte Biosciences, Inc. (FBRX) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 31, 2026 | $1.45vs $1.42-2.1% | — |
| Q4 2025 | Nov 14, 2025 | $0.99vs $1.04+4.8% | — |
| Q3 2025 | Aug 14, 2025 | $0.96vs $1.21+20.7% | — |
| Q2 2025 | May 15, 2025 | $1.37vs $0.89-53.9% | — |
Forte Biosciences, Inc. (FBRX) competitors in Immunology and Inflammation Therapies — business model, growth, and fundamentals comparison
Forte Biosciences, Inc. (FBRX) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Forte Biosciences, Inc. (FBRX) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 49K | 41K | 18.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | -3.92% | -16.33% | 43890.24% | -100% | - | - | - | - | - | - |
| Cost of Goods Sold | 0 | 0 | 0 | 11K | 54K | 36K | 0 | 9K | 39K | 55K |
| 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 Expenses | 31.48M | 37.38M | 63.26M | 4.05M | 14.17M | 21.49M | 13.9M | 32.48M | 36.56M | 53.38M |
| OpEx % of Revenue | 64255.1% | 91165.85% | 350.77% | - | - | - | - | - | - | - |
| Selling, General & Admin | 4.27M | 8.27M | 12.81M | 1.38M | 4.22M | 7.63M | 8.3M | 10.62M | 15.37M | 11.69M |
| SG&A % of Revenue | 8708.16% | 20158.54% | 71.02% | - | - | - | - | - | - | - |
| Research & Development | 27.22M | 29.11M | 50.45M | 2.67M | 9.95M | 13.85M | 5.59M | 21.86M | 21.19M | 41.44M |
| R&D % of Revenue | 55546.94% | 71007.32% | 279.75% | - | - | - | - | - | - | - |
| Other Operating Expenses | -50K | 0 | 0 | 0 | 0 | 0 | 17K | 0 | 0 | 300K |
| 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) | 255K | 292K | 625K | 11K | 54K | 36K | 36K | 9K | 39K | 55K |
| EBIT | -31.43M | -37M | -44.32M | -4.07M | -46.49M | -21.49M | -13.9M | -32.49M | -35.48M | -52.54M |
| Net Interest Income | 0 | 1.9M | -173.38K | 0 | 0 | 0 | 0 | 1.12M | 1.31M | 1.31M |
| Interest Income | 0 | 595K | 0 | 0 | 0 | 0 | 0 | 1.12M | 1.31M | 1.31M |
| Interest Expense | -1.84M | 1.93M | 173.38K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -1.79M | -1.3M | -1.4M | -5K | -32.26M | -222K | 17K | 1.01M | 1.12M | 1.7M |
| 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 Tax | 0 | 0 | 1.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 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 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) | -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 Outstanding | 52.74K | 38.95K | 53.49K | 84.33K | 294.36K | 558.71K | 695.34K | 1.26M | 2.92M | 17.79M |
| Basic Shares Outstanding | 52.74K | 38.95K | 53.49K | 84.33K | 294.36K | 558.71K | 695.34K | 1.26M | 2.92M | 17.79M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
Forte Biosciences, Inc. (FBRX) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 32.46M | 90.63M | 97.75M | 7.51M | 59.9M | 42.52M | 41.51M | 38.33M | 61.35M | 95.41M |
| Cash & Short-Term Investments | 31.25M | 88.72M | 96.09M | 6.94M | 58.77M | 42.04M | 41.1M | 37.13M | 58.37M | 93.41M |
| Cash Only | 5.51M | 35.93M | 40.81M | 6.94M | 58.77M | 42.04M | 41.1M | 11.96M | 22.24M | 93.41M |
| Short-Term Investments | 25.73M | 52.79M | 55.27M | 0 | 0 | 0 | 0 | 25.16M | 36.12M | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.22M | 1.9M | 1.66M | 3K | 76K | 89K | 70K | 165K | 336K | 2M |
| Total Non-Current Assets | 2.89M | 1.44M | 5.33M | 152K | 1.34M | 786K | 486K | 653K | 215K | 1.68M |
| Property, Plant & Equipment | 743K | 1.22M | 3.97M | 152K | 97K | 0 | 0 | 109K | 77K | 148K |
| Fixed Asset Turnover | 0.07x | 0.03x | 4.54x | - | - | - | - | - | - | 0.00x |
| 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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.15M | 227K | 1.36M | 0 | 1.24M | 786K | 486K | 544K | 138K | 1.9M |
| 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 Turnover | 0.00x | 0.00x | 0.17x | - | - | - | - | - | - | 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 Liabilities | 14.38M | 17.33M | 16.53M | 1.91M | 2.26M | 1.76M | 3.18M | 3.67M | 9.08M | 12.99M |
| Accounts Payable | 1.67M | 1.95M | 78.38K | 1.57M | 1.24M | 946K | 1.15M | 1.42M | 4.88M | 5.49M |
| Days Payables Outstanding | - | - | - | 52.06K | 8.38K | 9.59K | - | 57.75K | 45.66K | 34.33K |
| Short-Term Debt | 7.2M | 7.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 79K | 59K | 36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 4.71M | 8.12M | 10.25M | 168K | 0 | 0 | 890K | 947K | 1.55M | 7.5M |
| Current Ratio | 2.26x | 5.23x | 5.91x | 3.93x | 26.52x | 24.19x | 13.06x | 10.45x | 6.76x | 6.76x |
| Quick Ratio | 2.26x | 5.23x | 5.91x | 3.93x | 26.52x | 24.19x | 13.06x | 10.45x | 6.76x | 6.76x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 13.97M | 3.66M | 28.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 13.78M | 3.63M | 26.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | -36K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 126K | 0 | 2.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 28.36M | 20.99M | 44.94M | 1.91M | 2.26M | 1.76M | 3.18M | 3.67M | 9.08M | 12.99M |
| Total Debt | 20.98M | 10.82M | 26.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | 15.47M | -25.11M | -14.61M | -6.94M | -58.77M | -42.04M | -41.1M | -11.96M | -22.24M | -93.41M |
| Debt / Equity | 3.00x | 0.15x | 0.45x | - | - | - | - | - | - | 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 Share | 132.66 | 1824.81 | 1086.98 | 68.14 | 200.37 | 74.36 | 55.83 | 27.96 | 18.00 | 4.73 |
| Total Shareholders' Equity | 7M | 71.08M | 58.15M | 5.75M | 58.98M | 41.55M | 38.82M | 35.31M | 52.48M | 84.1M |
| Common Stock | 2K | 20K | 23K | 2K | 13K | 15K | 21K | 36K | 6K | 13K |
| Retained Earnings | -128M | -166.93M | -215.88M | -4.97M | -51.46M | -73.17M | -87.04M | -118.52M | -154M | -198.59M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.41M | -34K | -23K | 0 | -61.24M | -43.31M | 0 | 4K | 11K | -6K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Forte Biosciences, Inc. (FBRX) cash flow — operating, investing & free cash flow history
| Line item | Dec'16 | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 & Amortization | 255K | 292K | 625K | 11K | 54K | 36K | 0 | 9K | 39K | 55K |
| Stock-Based Compensation | 0 | 4.45M | 6.87M | 0 | 956K | 0 | 4.01M | 3.28M | 3.1M | 3.81M |
| Deferred Taxes | 0 | -4.45M | -6.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 1.74M | 5.26M | 7.77M | 36K | 30.89M | 4.28M | 0 | -131K | -158K | 1.08M |
| Working Capital Changes | 1.87M | 2.52M | 6.08M | 1.25M | -3.83M | 720K | 1.68M | -392K | 1.76M | 2.37M |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 586K | 304K | 1.26M | 976K | -369K | -294K | 207K | 271K | 3.02M | 332K |
| Cash from Investing | 24.57M | -27.71M | -4.19M | -162K | 3.58M | 0 | 0 | 47K | -35.99M | 247K |
| Capital Expenditures | -525K | -655K | -1.97M | -162K | 0 | 0 | 0 | -88K | -37K | -147K |
| CapEx % of Revenue | 1071.43% | 1597.56% | 10.91% | - | - | - | - | - | - | - |
| Acquisitions | 0 | 20K | 2.22M | 0 | 3.58K | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 25.09M | -27.05M | -2.22M | 0 | 3.58M | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 2.33M | 89.26M | 43.54M | 4.86M | 66.67M | -44K | 7.24M | 24.68M | 51.86M | 121.23M |
| Debt Issued (Net) | 2.91M | 138K | 23.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 10K | 1000K | 1000K | 1000K | 1000K | 62K | 1000K | 1000K | 1000K | 2M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 3.38M | 89K | 0 | 0 | 0 | 0 | 0 | 0 | -1K | -2K |
| Other Financing | -592K | 0 | -8.63M | 0 | -32K | -106K | 12K | -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) | 0.88x | 0.80x | 0.70x | 0.68x | 0.40x | 0.77x | 0.59x | 0.91x | 0.87x | 0.86x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Forte Biosciences, Inc. (FBRX) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 Margin | 100% | 100% | 100% | - | - | - | - | - | - | - |
| Net Margin | -68322.45% | -94948.78% | -271.43% | - | - | - | - | - | - | - |
| Debt / Equity | 3.00x | 0.15x | 0.45x | - | - | - | - | - | - | 0.00x |
| Interest Coverage | - | -19.48x | -264.47x | - | - | - | - | - | - | - |
| FCF Conversion | 0.88x | 0.80x | 0.70x | 0.68x | 0.40x | 0.77x | 0.59x | 0.91x | 0.87x | 0.86x |
| Revenue Growth | -3.92% | -16.33% | 43890.24% | -100% | - | - | - | - | - | - |
Forte Biosciences, Inc. (FBRX) stock FAQ — growth, dividends, profitability & financials explained
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.
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.
Forte Biosciences, Inc. (FBRX) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates