Molecular Partners AG (MOLN) 10-Year Financial Performance & Capital Metrics

MOLN •

HealthcareBiotechnologyDrug Discovery and Antibody Platforms

AboutMolecular Partners AG operates as a clinical-stage biopharmaceutical company, focuses on the discovery, development, and commercialization of therapeutic proteins. Its products candidates include Abicipar, a DARPin therapeutic candidate, which is in Phase III clinical trials for the treatment of neovascular wet age-related macular degeneration, as well as for diabetic macular edema; and MP0420, a multi-specific DARPin therapeutic candidate for the SARS-CoV-2 virus. The company develops MP0310, which is in Phase Ia clinical trials for immuno-oncology; MP0317, a tumor-localized immune agonist that activates immune cells in the tumor, which is in Phase I clinical trials; and MP0274 that is in Phase I clinical trials for HER2-positive cancers. It also develops MP0423 for treating COVID-19; MP0533, a CD3 T cell candidate for acute myeloid leukemia; and MP0250 for vascular endothelial growth factor, hepatocyte growth factor, and human serum albumin to increase half-life. Molecular Partners AG has agreements and collaboration with Novartis AG to develop, manufacture, and commercialize DARPin-conjugated radioligand therapies; Amgen SA; Allergan, Inc.; and discovery alliance with AbbVie Inc. in ophthalmology, as well as other third-party collaborators. The company was incorporated in 2004 and is headquartered in Schlieren, Switzerland.Show more

Revenue $5M -29.4%
EBITDA -$59M -0.3%
Net Income -$54M +12.8%
EPS (Diluted) -1.59 +15.9%
Gross Margin -855.81% -47.6%
EBITDA Margin -1184.06% -42.0%
Operating Margin -1231.73% -41.9%
Net Margin -1087.38% -23.5%
ROE -33.98% -12.8%
ROIC -47.58% -37.5%
Debt/Equity 0.02 -16.6%
Interest Coverage -2448.68 -96.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 82 (top 18%)
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.6%
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Sales declining 24.6% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-15.45%

5Y-24.59%

3Y-18.94%

TTM-100%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM3.76%

EPS CAGR

10Y-

5Y-

3Y-

TTM12.23%

ROCE

10Y Avg-20.58%

5Y Avg-21.74%

3Y Avg-0.84%

Latest-36.91%

Peer Comparison

Drug Discovery and Antibody Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
REGNRegeneron Pharmaceuticals, Inc.	107.56B	781.67	18.84	0.99%	31.41%	14.41%	3.79%	0.09
CTMXCytomX Therapeutics, Inc.	430.14M	5.37	14.13	36.45%	24.66%	26.09%
PRTCPureTech Health plc	405.3M	16.77	8.39	44.98%	-495.91%	-8.53%		0.05
DNAGinkgo Bioworks Holdings, Inc.	327.53M	6.75	-1.20	-25.06%	-183.81%	-61.5%		0.82
BCYCBicycle Therapeutics plc	111.38M	5.73	-1.98	30.76%	-8.85%	-40.53%		0.01
CCCCC4 Therapeutics, Inc.	261.67M	2.70	-2.13	-100%		-40.92%		0.23
MOLNMolecular Partners AG	187.84M	5.02	-2.43	-29.38%	-10.87%	-63.06%		0.02
RXRXRecursion Pharmaceuticals, Inc.	1.94B	3.67	-2.55	26.92%	-8.65%	-57.01%		0.07

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	29.12M	23.04M	20.02M	10.36M	20.38M	9.34M	9.33M	189.56M	7.04M	4.97M
Revenue Growth %	9.37%	-20.88%	-13.13%	-48.27%	96.84%	-54.16%	-0.15%	1931.68%	-96.29%	-29.38%
Cost of Goods Sold+	1.17M	14.57M	17.82M	15.6M	43.5M	56.08M	55.72M	50.75M	47.84M	47.5M
COGS % of Revenue	4%	63.24%	89.04%	150.67%	213.4%	600.12%	597.19%	26.77%	679.8%	955.81%
Gross Profit+	27.95M	8.47M	2.19M	-5.25M	-23.11M	-46.73M	-46.39M	138.81M	-40.81M	-42.53M
Gross Margin %	96%	36.76%	10.96%	-50.67%	-113.4%	-500.12%	-497.19%	73.23%	-579.8%	-855.81%
Gross Profit Growth %	5.67%	-69.7%	-74.09%	-339.15%	-340.54%	-102.17%	0.73%	399.23%	-129.4%	-4.23%
Operating Expenses+	31.34M	42.53M	45.86M	47.77M	57.04M	67.67M	72.75M	72.94M	20.3M	18.68M
OpEx % of Revenue	107.62%	184.57%	229.12%	461.27%	279.86%	724.21%	779.73%	38.48%	288.46%	375.92%
Selling, General & Admin	6.22M	7.24M	8.28M	9.46M	13.16M	11.03M	16.91M	21.82M	19M	17.16M
SG&A % of Revenue	21.36%	31.41%	41.37%	91.38%	64.58%	118.01%	181.2%	11.51%	269.89%	345.35%
Research & Development	23.92M	35.19M	37.45M	38.2M	43.5M	56.08M	55.72M	50.75M	48.78M	48.6M
R&D % of Revenue	82.14%	152.71%	187.12%	368.93%	213.4%	600.12%	597.19%	26.77%	693.15%	977.95%
Other Operating Expenses	1.2M	103K	126K	100K	381K	568K	125K	372K	-47.48M	-47.09M
Operating Income+	-2.22M	-19.49M	-25.84M	-37.41M	-36.66M	-58.33M	-63.42M	116.61M	-61.11M	-61.22M
Operating Margin %	-7.62%	-84.57%	-129.12%	-361.27%	-179.86%	-624.21%	-679.72%	61.52%	-868.26%	-1231.73%
Operating Income Growth %	-220.5%	-778.5%	-32.63%	-44.75%	2%	-59.1%	-8.73%	283.88%	-152.4%	-0.18%
EBITDA+	-1.31M	-18.4M	-24.7M	-36.49M	-34.19M	-55.44M	-60.85M	119M	-58.69M	-58.85M
EBITDA Margin %	-4.49%	-79.85%	-123.4%	-352.35%	-167.74%	-593.31%	-652.23%	62.78%	-833.87%	-1184.06%
EBITDA Growth %	-149.38%	-1305.74%	-34.26%	-47.72%	6.29%	-62.14%	-9.77%	295.55%	-149.32%	-0.27%
D&A (Non-Cash Add-back)	909.39K	1.09M	1.15M	924K	2.47M	2.89M	2.56M	2.39M	2.42M	2.37M
EBIT	5K	-18.61M	-25.84M	-37.04M	-36.17M	-62.47M	-63.23M	116.61M	-61.95M	-54.02M
Net Interest Income+	204K	246K	524K	591K	1.51M	63K	-457K	547.61K	4.23M	3.35M
Interest Income	358K	335K	610K	693K	1.61M	367K	99K	1.2M	4.28M	3.38M
Interest Expense	154K	89K	197K	102K	100.63K	271K	548K	648.12K	49K	25K
Other Income/Expense	2.07M	874K	414K	374K	389K	-4.45M	-365K	1.24M	-876K	7.18M
Pretax Income+	-148.82K	-18.61M	-25.43M	-37.04M	-36.27M	-62.77M	-63.78M	117.85M	-61.98M	-54.04M
Pretax Margin %	-0.51%	-80.78%	-127.05%	-357.66%	-177.95%	-671.82%	-683.63%	62.17%	-880.7%	-1087.34%
Income Tax+	-1.78M	0	-1K	-156K	17K	-11K	2K	0	0	2K
Effective Tax Rate %	100%	100%	100%	100%	100.05%	99.98%	100%	100%	100%	100%
Net Income+	-148.82K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
Net Margin %	-0.51%	-80.78%	-127.05%	-357.66%	-178.03%	-671.7%	-683.65%	62.17%	-880.7%	-1087.38%
Net Income Growth %	93.48%	-12406.13%	-36.63%	-45.64%	2.02%	-72.96%	-1.63%	284.77%	-152.59%	12.81%
Net Income (Continuing)	-149K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
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)+	-0.01	-0.91	-1.22	-1.75	-1.69	-2.51	-2.06	3.54	-1.89	-1.59
EPS Growth %	94.93%	-	-34.07%	-43.44%	3.43%	-48.52%	17.93%	271.84%	-153.39%	15.87%
EPS (Basic)	-0.01	-0.91	-1.22	-1.75	-1.69	-2.51	-2.06	3.63	-1.89	-1.59
Diluted Shares Outstanding	19.54M	20.43M	20.86M	21.17M	21.41M	25M	31.01M	33.27M	32.77M	34.03M
Basic Shares Outstanding	19.54M	20.43M	20.86M	21.17M	21.41M	25M	31.01M	32.47M	32.77M	34.03M
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+	216.86M	181.56M	142.53M	153.32M	99.92M	177.81M	164.19M	254.75M	192.46M	154.28M
Cash & Short-Term Investments	215.39M	180.23M	141.06M	98.96M	95.08M	173.72M	132.81M	249.14M	186.89M	149.44M
Cash Only	195.37M	149.74M	131.32M	98.96M	75.71M	133.72M	71.81M	87.95M	67.31M	63.87M
Short-Term Investments	20.02M	30.49M	9.74M	0	19.37M	40M	61M	161.2M	119.58M	85.56M
Accounts Receivable	1.34M	844K	1.15M	51.62M	2.55M	2.84M	25.73M	1.7M	1.75M	286K
Days Sales Outstanding	16.85	13.37	21.03	1.82K	45.63	110.9	1.01K	3.27	90.5	21
Inventory	126.48K	0	-9.43M	-2.29M	-486K	-199K	2	0	0	0
Days Inventory Outstanding	39.61	-	-	-	-	-	0	-	-	-
Other Current Assets	0	0	0	0	0	0	0	0	0	2.31M
Total Non-Current Assets+	2.54M	2.54M	1.9M	1.84M	5.01M	9.73M	8.48M	7.51M	5.89M	4.25M
Property, Plant & Equipment	2.52M	2.5M	1.87M	1.46M	4.24M	9.39M	8.15M	7.24M	5.68M	4.2M
Fixed Asset Turnover	11.56x	9.23x	10.70x	7.12x	4.81x	1.00x	1.15x	26.20x	1.24x	1.18x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	17.47K	47K	27K	382K	772K	347K	330K	271K	212K	49K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	-5.01M	-9.73M	1K	-7.51M	0	0
Total Assets+	219.4M	184.1M	144.42M	155.16M	104.94M	187.55M	172.67M	262.26M	198.35M	158.53M
Asset Turnover	0.13x	0.13x	0.14x	0.07x	0.19x	0.05x	0.05x	0.72x	0.04x	0.03x
Asset Growth %	13.08%	-16.09%	-21.55%	7.43%	-32.37%	78.73%	-7.93%	51.89%	-24.37%	-20.08%
Total Current Liabilities+	26.45M	15.77M	14.14M	36.87M	28.61M	57.67M	46.87M	17.25M	14.42M	10.79M
Accounts Payable	1.23M	1.03M	716K	2.11M	2.02M	2.8M	4.86M	997K	410K	679K
Days Payables Outstanding	385.53	25.73	14.66	49.32	16.94	18.23	31.85	7.17	3.13	5.22
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	22.15M	10.48M	8.88M	27.83M	18.31M	42.95M	28.31M	6.41M	4.33M	0
Other Current Liabilities	22.7M	0	0	0	0	0	0	0	0	0
Current Ratio	8.20x	11.52x	10.08x	4.16x	3.49x	3.08x	3.50x	14.77x	13.35x	14.31x
Quick Ratio	8.20x	11.52x	10.75x	4.22x	3.51x	3.09x	3.50x	14.77x	13.35x	14.31x
Cash Conversion Cycle	-329.07	-	-	-	-	-	974.58	-	-	-
Total Non-Current Liabilities+	41.15M	32.54M	13.55M	26.59M	22.19M	22.66M	18.51M	9.84M	7.51M	6.11M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.28M	6.04M	4.85M	3.65M	2.44M	1.23M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	41.15M	5.72M	4.01M	5.71M	10.9M	13.68M	6.74M	2.55M	5.06M	4.88M
Total Liabilities	67.6M	48.3M	27.69M	63.45M	50.8M	80.33M	65.38M	27.09M	21.92M	16.89M
Total Debt+	0	0	0	0	2.54M	7.22M	6.04M	4.85M	3.65M	2.44M
Net Debt	-195.37M	-149.74M	-131.32M	-98.96M	-73.17M	-126.5M	-65.77M	-83.1M	-63.66M	-61.43M
Debt / Equity	-	-	-	-	0.05x	0.07x	0.06x	0.02x	0.02x	0.02x
Debt / EBITDA	-	-	-	-	-	-	-	0.04x	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-0.70x	-	-
Interest Coverage	-14.40x	-218.94x	-131.19x	-366.76x	-364.32x	-215.23x	-115.73x	179.92x	-1247.10x	-2448.68x
Total Equity+	151.79M	135.79M	116.73M	91.7M	54.14M	107.22M	107.29M	235.17M	176.43M	141.64M
Equity Growth %	2.23%	-10.54%	-14.04%	-21.44%	-40.96%	98.05%	0.06%	119.19%	-24.98%	-19.72%
Book Value per Share	7.77	6.65	5.60	4.33	2.53	4.29	3.46	7.07	5.38	4.16
Total Shareholders' Equity	151.79M	135.79M	116.73M	91.7M	54.14M	107.22M	107.29M	235.17M	176.43M	141.64M
Common Stock	1.96M	2.07M	2.1M	2.12M	2.16M	2.92M	3.23M	3.6M	3.63M	4.04M
Retained Earnings	-18.02M	-37.27M	-60.72M	-89.86M	-130.87M	-195.17M	-250.95M	-127.78M	-191.75M	-246.29M
Treasury Stock	-1.29M	-152K	0	0	0	0	0	-981K	-981K	-981K
Accumulated OCI	-4.1M	-5.11M	-6.11M	-6.86M	0	0	0	-981K	0	0
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+	26.5M	-35.38M	-40.02M	-42.47M	-1.19M	-28.98M	-90.95M	118.57M	-59.01M	-59.25M
Operating CF Margin %	90.99%	-153.56%	-199.95%	-410.18%	-5.83%	-310.18%	-974.84%	62.55%	-838.38%	-1192.11%
Operating CF Growth %	333.79%	-233.53%	-13.12%	-6.13%	97.2%	-2337.59%	-213.81%	230.36%	-149.77%	-0.41%
Net Income	-148.82K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
Depreciation & Amortization	909.39K	1.09M	1.15M	924K	2.47M	2.89M	2.56M	2.39M	2.42M	2.37M
Stock-Based Compensation	3.76M	2.85M	3.59M	3.72M	2.44M	2.93M	4.08M	5.09M	5.21M	4.11M
Deferred Taxes	530.12K	794K	176K	520K	17K	-11K	2K	0	0	2K
Other Non-Cash Items	-29.04M	-22.68M	-19.29M	-10.73M	-16K	5.49M	848K	-753K	1.36M	-7.88M
Working Capital Changes	50.49M	1.18M	-217K	131K	30.19M	22.49M	-34.67M	-6.01M	-6.01M	-3.8M
Change in Receivables	1.87M	525K	-317K	-50.83M	49.57M	-552K	-23.37M	25.26M	-933K	-347K
Change in Inventory	0	0	0	0	-49.57M	-2.84M	21.72M	-19.93M	0	0
Change in Payables	649.91K	-370K	-118K	1.39M	-270K	3.4M	1.66M	-5.34M	-812K	524K
Cash from Investing+	-20.74M	-11.25M	20.86M	9.61M	-19.84M	-21.75M	-22.24M	-101.12M	44.64M	40.49M
Capital Expenditures	-1.39M	-1.1M	-500K	-867K	-1.86M	-1.68M	-1.31M	-1.42M	-808K	-705K
CapEx % of Revenue	4.77%	4.76%	2.5%	8.37%	9.14%	18.01%	14.01%	0.75%	11.48%	14.19%
Acquisitions	0	0	-19K	-411K	833K	232K	374K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	669.41K	318K	637K	1.15M	563K	337K	-304K	494K	3.83M	4.22M
Cash from Financing+	229.2K	395K	799K	392K	-227K	113.2M	50.58M	-1.57M	-1.17M	14.43M
Debt Issued (Net)	0	0	0	0	-1.24M	-1.25M	-1.18M	-1.19M	-1.2M	-1.21M
Equity Issued (Net)	0	395K	799K	392K	0	1000K	1000K	-631K	0	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-631K	0	0
Other Financing	230K	0	0	0	1.01M	840K	267K	250K	31K	-1.7M
Net Change in Cash	6.99M	-45.63M	-18.42M	-32.36M	-23.25M	58.01M	-61.91M	16.13M	-20.64M	-3.44M
Free Cash Flow+	25.11M	-36.48M	-40.52M	-43.34M	-3.05M	-30.67M	-92.26M	117.15M	-59.81M	-59.97M
FCF Margin %	86.22%	-158.32%	-202.45%	-418.55%	-14.98%	-328.19%	-988.85%	61.8%	-849.86%	-1206.66%
FCF Growth %	311.36%	-245.28%	-11.09%	-6.96%	92.96%	-904.45%	-200.85%	226.98%	-151.06%	-0.26%
FCF per Share	1.28	-1.79	-1.94	-2.05	-0.14	-1.23	-2.98	3.52	-1.83	-1.76
FCF Conversion (FCF/Net Income)	-178.03x	1.90x	1.57x	1.15x	0.03x	0.46x	1.43x	1.01x	0.95x	1.10x
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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.1%	-12.94%	-20.14%	-35.54%	-49.76%	-77.79%	-59.47%	68.83%	-30.12%	-33.98%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-427.88%	90.36%	-34.61%	-47.58%
Gross Margin	96%	36.76%	10.96%	-50.67%	-113.4%	-500.12%	-497.19%	73.23%	-579.8%	-855.81%
Net Margin	-0.51%	-80.78%	-127.05%	-357.66%	-178.03%	-671.7%	-683.65%	62.17%	-880.7%	-1087.38%
Debt / Equity	-	-	-	-	0.05x	0.07x	0.06x	0.02x	0.02x	0.02x
Interest Coverage	-14.40x	-218.94x	-131.19x	-366.76x	-364.32x	-215.23x	-115.73x	179.92x	-1247.10x	-2448.68x
FCF Conversion	-178.03x	1.90x	1.57x	1.15x	0.03x	0.46x	1.43x	1.01x	0.95x	1.10x
Revenue Growth	9.37%	-20.88%	-13.13%	-48.27%	96.84%	-54.16%	-0.15%	1931.68%	-96.29%	-29.38%

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Molecular Partners AG (MOLN) 10-Year Financial Performance & Capital Metrics

MOLN •

HealthcareBiotechnologyDrug Discovery and Antibody Platforms

Revenue $5M -29.4%
EBITDA -$59M -0.3%
Net Income -$54M +12.8%
EPS (Diluted) -1.59 +15.9%
Gross Margin -855.81% -47.6%
EBITDA Margin -1184.06% -42.0%
Operating Margin -1231.73% -41.9%
Net Margin -1087.38% -23.5%
ROE -33.98% -12.8%
ROIC -47.58% -37.5%
Debt/Equity 0.02 -16.6%
Interest Coverage -2448.68 -96.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Momentum leader: RS Rating 82 (top 18%)
✓Trading at only 0.9x book value

✗Weaknesses

✗Weak 3Y average ROE of 1.6%
✗Weak Piotroski F-Score: 2/9
✗Negative free cash flow
✗Sales declining 24.6% over 5 years
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-15.45%

5Y-24.59%

3Y-18.94%

TTM-100%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM3.76%

EPS CAGR

10Y-

5Y-

3Y-

TTM12.23%

ROCE

10Y Avg-20.58%

5Y Avg-21.74%

3Y Avg-0.84%

Latest-36.91%

Peer Comparison

Drug Discovery and Antibody Platforms

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
REGNRegeneron Pharmaceuticals, Inc.	107.56B	781.67	18.84	0.99%	31.41%	14.41%	3.79%	0.09
CTMXCytomX Therapeutics, Inc.	430.14M	5.37	14.13	36.45%	24.66%	26.09%
PRTCPureTech Health plc	405.3M	16.77	8.39	44.98%	-495.91%	-8.53%		0.05
DNAGinkgo Bioworks Holdings, Inc.	327.53M	6.75	-1.20	-25.06%	-183.81%	-61.5%		0.82
BCYCBicycle Therapeutics plc	111.38M	5.73	-1.98	30.76%	-8.85%	-40.53%		0.01
CCCCC4 Therapeutics, Inc.	261.67M	2.70	-2.13	-100%		-40.92%		0.23
MOLNMolecular Partners AG	187.84M	5.02	-2.43	-29.38%	-10.87%	-63.06%		0.02
RXRXRecursion Pharmaceuticals, Inc.	1.94B	3.67	-2.55	26.92%	-8.65%	-57.01%		0.07

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	29.12M	23.04M	20.02M	10.36M	20.38M	9.34M	9.33M	189.56M	7.04M	4.97M
Revenue Growth %	9.37%	-20.88%	-13.13%	-48.27%	96.84%	-54.16%	-0.15%	1931.68%	-96.29%	-29.38%
Cost of Goods Sold+	1.17M	14.57M	17.82M	15.6M	43.5M	56.08M	55.72M	50.75M	47.84M	47.5M
COGS % of Revenue	4%	63.24%	89.04%	150.67%	213.4%	600.12%	597.19%	26.77%	679.8%	955.81%
Gross Profit+	27.95M	8.47M	2.19M	-5.25M	-23.11M	-46.73M	-46.39M	138.81M	-40.81M	-42.53M
Gross Margin %	96%	36.76%	10.96%	-50.67%	-113.4%	-500.12%	-497.19%	73.23%	-579.8%	-855.81%
Gross Profit Growth %	5.67%	-69.7%	-74.09%	-339.15%	-340.54%	-102.17%	0.73%	399.23%	-129.4%	-4.23%
Operating Expenses+	31.34M	42.53M	45.86M	47.77M	57.04M	67.67M	72.75M	72.94M	20.3M	18.68M
OpEx % of Revenue	107.62%	184.57%	229.12%	461.27%	279.86%	724.21%	779.73%	38.48%	288.46%	375.92%
Selling, General & Admin	6.22M	7.24M	8.28M	9.46M	13.16M	11.03M	16.91M	21.82M	19M	17.16M
SG&A % of Revenue	21.36%	31.41%	41.37%	91.38%	64.58%	118.01%	181.2%	11.51%	269.89%	345.35%
Research & Development	23.92M	35.19M	37.45M	38.2M	43.5M	56.08M	55.72M	50.75M	48.78M	48.6M
R&D % of Revenue	82.14%	152.71%	187.12%	368.93%	213.4%	600.12%	597.19%	26.77%	693.15%	977.95%
Other Operating Expenses	1.2M	103K	126K	100K	381K	568K	125K	372K	-47.48M	-47.09M
Operating Income+	-2.22M	-19.49M	-25.84M	-37.41M	-36.66M	-58.33M	-63.42M	116.61M	-61.11M	-61.22M
Operating Margin %	-7.62%	-84.57%	-129.12%	-361.27%	-179.86%	-624.21%	-679.72%	61.52%	-868.26%	-1231.73%
Operating Income Growth %	-220.5%	-778.5%	-32.63%	-44.75%	2%	-59.1%	-8.73%	283.88%	-152.4%	-0.18%
EBITDA+	-1.31M	-18.4M	-24.7M	-36.49M	-34.19M	-55.44M	-60.85M	119M	-58.69M	-58.85M
EBITDA Margin %	-4.49%	-79.85%	-123.4%	-352.35%	-167.74%	-593.31%	-652.23%	62.78%	-833.87%	-1184.06%
EBITDA Growth %	-149.38%	-1305.74%	-34.26%	-47.72%	6.29%	-62.14%	-9.77%	295.55%	-149.32%	-0.27%
D&A (Non-Cash Add-back)	909.39K	1.09M	1.15M	924K	2.47M	2.89M	2.56M	2.39M	2.42M	2.37M
EBIT	5K	-18.61M	-25.84M	-37.04M	-36.17M	-62.47M	-63.23M	116.61M	-61.95M	-54.02M
Net Interest Income+	204K	246K	524K	591K	1.51M	63K	-457K	547.61K	4.23M	3.35M
Interest Income	358K	335K	610K	693K	1.61M	367K	99K	1.2M	4.28M	3.38M
Interest Expense	154K	89K	197K	102K	100.63K	271K	548K	648.12K	49K	25K
Other Income/Expense	2.07M	874K	414K	374K	389K	-4.45M	-365K	1.24M	-876K	7.18M
Pretax Income+	-148.82K	-18.61M	-25.43M	-37.04M	-36.27M	-62.77M	-63.78M	117.85M	-61.98M	-54.04M
Pretax Margin %	-0.51%	-80.78%	-127.05%	-357.66%	-177.95%	-671.82%	-683.63%	62.17%	-880.7%	-1087.34%
Income Tax+	-1.78M	0	-1K	-156K	17K	-11K	2K	0	0	2K
Effective Tax Rate %	100%	100%	100%	100%	100.05%	99.98%	100%	100%	100%	100%
Net Income+	-148.82K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
Net Margin %	-0.51%	-80.78%	-127.05%	-357.66%	-178.03%	-671.7%	-683.65%	62.17%	-880.7%	-1087.38%
Net Income Growth %	93.48%	-12406.13%	-36.63%	-45.64%	2.02%	-72.96%	-1.63%	284.77%	-152.59%	12.81%
Net Income (Continuing)	-149K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
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)+	-0.01	-0.91	-1.22	-1.75	-1.69	-2.51	-2.06	3.54	-1.89	-1.59
EPS Growth %	94.93%	-	-34.07%	-43.44%	3.43%	-48.52%	17.93%	271.84%	-153.39%	15.87%
EPS (Basic)	-0.01	-0.91	-1.22	-1.75	-1.69	-2.51	-2.06	3.63	-1.89	-1.59
Diluted Shares Outstanding	19.54M	20.43M	20.86M	21.17M	21.41M	25M	31.01M	33.27M	32.77M	34.03M
Basic Shares Outstanding	19.54M	20.43M	20.86M	21.17M	21.41M	25M	31.01M	32.47M	32.77M	34.03M
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+	216.86M	181.56M	142.53M	153.32M	99.92M	177.81M	164.19M	254.75M	192.46M	154.28M
Cash & Short-Term Investments	215.39M	180.23M	141.06M	98.96M	95.08M	173.72M	132.81M	249.14M	186.89M	149.44M
Cash Only	195.37M	149.74M	131.32M	98.96M	75.71M	133.72M	71.81M	87.95M	67.31M	63.87M
Short-Term Investments	20.02M	30.49M	9.74M	0	19.37M	40M	61M	161.2M	119.58M	85.56M
Accounts Receivable	1.34M	844K	1.15M	51.62M	2.55M	2.84M	25.73M	1.7M	1.75M	286K
Days Sales Outstanding	16.85	13.37	21.03	1.82K	45.63	110.9	1.01K	3.27	90.5	21
Inventory	126.48K	0	-9.43M	-2.29M	-486K	-199K	2	0	0	0
Days Inventory Outstanding	39.61	-	-	-	-	-	0	-	-	-
Other Current Assets	0	0	0	0	0	0	0	0	0	2.31M
Total Non-Current Assets+	2.54M	2.54M	1.9M	1.84M	5.01M	9.73M	8.48M	7.51M	5.89M	4.25M
Property, Plant & Equipment	2.52M	2.5M	1.87M	1.46M	4.24M	9.39M	8.15M	7.24M	5.68M	4.2M
Fixed Asset Turnover	11.56x	9.23x	10.70x	7.12x	4.81x	1.00x	1.15x	26.20x	1.24x	1.18x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	17.47K	47K	27K	382K	772K	347K	330K	271K	212K	49K
Long-Term Investments	0	0	0	0	0	0	0	0	0	0
Other Non-Current Assets	0	0	0	0	-5.01M	-9.73M	1K	-7.51M	0	0
Total Assets+	219.4M	184.1M	144.42M	155.16M	104.94M	187.55M	172.67M	262.26M	198.35M	158.53M
Asset Turnover	0.13x	0.13x	0.14x	0.07x	0.19x	0.05x	0.05x	0.72x	0.04x	0.03x
Asset Growth %	13.08%	-16.09%	-21.55%	7.43%	-32.37%	78.73%	-7.93%	51.89%	-24.37%	-20.08%
Total Current Liabilities+	26.45M	15.77M	14.14M	36.87M	28.61M	57.67M	46.87M	17.25M	14.42M	10.79M
Accounts Payable	1.23M	1.03M	716K	2.11M	2.02M	2.8M	4.86M	997K	410K	679K
Days Payables Outstanding	385.53	25.73	14.66	49.32	16.94	18.23	31.85	7.17	3.13	5.22
Short-Term Debt	0	0	0	0	0	0	0	0	0	0
Deferred Revenue (Current)	22.15M	10.48M	8.88M	27.83M	18.31M	42.95M	28.31M	6.41M	4.33M	0
Other Current Liabilities	22.7M	0	0	0	0	0	0	0	0	0
Current Ratio	8.20x	11.52x	10.08x	4.16x	3.49x	3.08x	3.50x	14.77x	13.35x	14.31x
Quick Ratio	8.20x	11.52x	10.75x	4.22x	3.51x	3.09x	3.50x	14.77x	13.35x	14.31x
Cash Conversion Cycle	-329.07	-	-	-	-	-	974.58	-	-	-
Total Non-Current Liabilities+	41.15M	32.54M	13.55M	26.59M	22.19M	22.66M	18.51M	9.84M	7.51M	6.11M
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	0	0	0	0	1.28M	6.04M	4.85M	3.65M	2.44M	1.23M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	41.15M	5.72M	4.01M	5.71M	10.9M	13.68M	6.74M	2.55M	5.06M	4.88M
Total Liabilities	67.6M	48.3M	27.69M	63.45M	50.8M	80.33M	65.38M	27.09M	21.92M	16.89M
Total Debt+	0	0	0	0	2.54M	7.22M	6.04M	4.85M	3.65M	2.44M
Net Debt	-195.37M	-149.74M	-131.32M	-98.96M	-73.17M	-126.5M	-65.77M	-83.1M	-63.66M	-61.43M
Debt / Equity	-	-	-	-	0.05x	0.07x	0.06x	0.02x	0.02x	0.02x
Debt / EBITDA	-	-	-	-	-	-	-	0.04x	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-0.70x	-	-
Interest Coverage	-14.40x	-218.94x	-131.19x	-366.76x	-364.32x	-215.23x	-115.73x	179.92x	-1247.10x	-2448.68x
Total Equity+	151.79M	135.79M	116.73M	91.7M	54.14M	107.22M	107.29M	235.17M	176.43M	141.64M
Equity Growth %	2.23%	-10.54%	-14.04%	-21.44%	-40.96%	98.05%	0.06%	119.19%	-24.98%	-19.72%
Book Value per Share	7.77	6.65	5.60	4.33	2.53	4.29	3.46	7.07	5.38	4.16
Total Shareholders' Equity	151.79M	135.79M	116.73M	91.7M	54.14M	107.22M	107.29M	235.17M	176.43M	141.64M
Common Stock	1.96M	2.07M	2.1M	2.12M	2.16M	2.92M	3.23M	3.6M	3.63M	4.04M
Retained Earnings	-18.02M	-37.27M	-60.72M	-89.86M	-130.87M	-195.17M	-250.95M	-127.78M	-191.75M	-246.29M
Treasury Stock	-1.29M	-152K	0	0	0	0	0	-981K	-981K	-981K
Accumulated OCI	-4.1M	-5.11M	-6.11M	-6.86M	0	0	0	-981K	0	0
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+	26.5M	-35.38M	-40.02M	-42.47M	-1.19M	-28.98M	-90.95M	118.57M	-59.01M	-59.25M
Operating CF Margin %	90.99%	-153.56%	-199.95%	-410.18%	-5.83%	-310.18%	-974.84%	62.55%	-838.38%	-1192.11%
Operating CF Growth %	333.79%	-233.53%	-13.12%	-6.13%	97.2%	-2337.59%	-213.81%	230.36%	-149.77%	-0.41%
Net Income	-148.82K	-18.61M	-25.43M	-37.04M	-36.29M	-62.76M	-63.78M	117.85M	-61.98M	-54.04M
Depreciation & Amortization	909.39K	1.09M	1.15M	924K	2.47M	2.89M	2.56M	2.39M	2.42M	2.37M
Stock-Based Compensation	3.76M	2.85M	3.59M	3.72M	2.44M	2.93M	4.08M	5.09M	5.21M	4.11M
Deferred Taxes	530.12K	794K	176K	520K	17K	-11K	2K	0	0	2K
Other Non-Cash Items	-29.04M	-22.68M	-19.29M	-10.73M	-16K	5.49M	848K	-753K	1.36M	-7.88M
Working Capital Changes	50.49M	1.18M	-217K	131K	30.19M	22.49M	-34.67M	-6.01M	-6.01M	-3.8M
Change in Receivables	1.87M	525K	-317K	-50.83M	49.57M	-552K	-23.37M	25.26M	-933K	-347K
Change in Inventory	0	0	0	0	-49.57M	-2.84M	21.72M	-19.93M	0	0
Change in Payables	649.91K	-370K	-118K	1.39M	-270K	3.4M	1.66M	-5.34M	-812K	524K
Cash from Investing+	-20.74M	-11.25M	20.86M	9.61M	-19.84M	-21.75M	-22.24M	-101.12M	44.64M	40.49M
Capital Expenditures	-1.39M	-1.1M	-500K	-867K	-1.86M	-1.68M	-1.31M	-1.42M	-808K	-705K
CapEx % of Revenue	4.77%	4.76%	2.5%	8.37%	9.14%	18.01%	14.01%	0.75%	11.48%	14.19%
Acquisitions	0	0	-19K	-411K	833K	232K	374K	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	669.41K	318K	637K	1.15M	563K	337K	-304K	494K	3.83M	4.22M
Cash from Financing+	229.2K	395K	799K	392K	-227K	113.2M	50.58M	-1.57M	-1.17M	14.43M
Debt Issued (Net)	0	0	0	0	-1.24M	-1.25M	-1.18M	-1.19M	-1.2M	-1.21M
Equity Issued (Net)	0	395K	799K	392K	0	1000K	1000K	-631K	0	1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	0	0	0	0	0	-631K	0	0
Other Financing	230K	0	0	0	1.01M	840K	267K	250K	31K	-1.7M
Net Change in Cash	6.99M	-45.63M	-18.42M	-32.36M	-23.25M	58.01M	-61.91M	16.13M	-20.64M	-3.44M
Free Cash Flow+	25.11M	-36.48M	-40.52M	-43.34M	-3.05M	-30.67M	-92.26M	117.15M	-59.81M	-59.97M
FCF Margin %	86.22%	-158.32%	-202.45%	-418.55%	-14.98%	-328.19%	-988.85%	61.8%	-849.86%	-1206.66%
FCF Growth %	311.36%	-245.28%	-11.09%	-6.96%	92.96%	-904.45%	-200.85%	226.98%	-151.06%	-0.26%
FCF per Share	1.28	-1.79	-1.94	-2.05	-0.14	-1.23	-2.98	3.52	-1.83	-1.76
FCF Conversion (FCF/Net Income)	-178.03x	1.90x	1.57x	1.15x	0.03x	0.46x	1.43x	1.01x	0.95x	1.10x
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	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-0.1%	-12.94%	-20.14%	-35.54%	-49.76%	-77.79%	-59.47%	68.83%	-30.12%	-33.98%
Return on Invested Capital (ROIC)	-	-	-	-	-	-	-427.88%	90.36%	-34.61%	-47.58%
Gross Margin	96%	36.76%	10.96%	-50.67%	-113.4%	-500.12%	-497.19%	73.23%	-579.8%	-855.81%
Net Margin	-0.51%	-80.78%	-127.05%	-357.66%	-178.03%	-671.7%	-683.65%	62.17%	-880.7%	-1087.38%
Debt / Equity	-	-	-	-	0.05x	0.07x	0.06x	0.02x	0.02x	0.02x
Interest Coverage	-14.40x	-218.94x	-131.19x	-366.76x	-364.32x	-215.23x	-115.73x	179.92x	-1247.10x	-2448.68x
FCF Conversion	-178.03x	1.90x	1.57x	1.15x	0.03x	0.46x	1.43x	1.01x	0.95x	1.10x
Revenue Growth	9.37%	-20.88%	-13.13%	-48.27%	96.84%	-54.16%	-0.15%	1931.68%	-96.29%	-29.38%

Molecular Partners AG (MOLN) 10-Year Financial Performance & Capital Metrics

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✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

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Molecular Partners AG (MOLN) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare MOLN vs Peers

vs REGN

vs CNTA

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Profit & Loss

Balance Sheet

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Deep Dive Analysis

Valuation Overview

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Dividend History

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