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Passage Bio, Inc. (PASG) 10-Year Financial Performance & Capital Metrics

PASG • • Industrial / General
HealthcareBiotechnologyRare Genetic DiseasesGene Therapy & Rare Diseases
AboutPassage Bio, Inc., a genetic medicines company, develops transformative therapies for central nervous system diseases. It develops PBGM01, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GLB1 gene encoding lysosomal acid beta-galactosidase for infantile GM1; PBFT02, which utilizes an AAV1 capsid to deliver to the brain a functional granulin (GRN) and gene encoding progranulin (PGRN) for the treatment of FTD-GRN; and PBKR03, which utilizes a proprietary, AAVhu68 capsid to deliver to the brain and peripheral tissues a functional GALC gene encoding the hydrolytic enzyme galactosylceramidase for infantile Krabbe disease. The company also develops PBML04 for the treatment of metachromatic leukodystrophy; PBAL05 for the treatment of amyotrophic lateral sclerosis; and PBCM06 for the treatment of Charcot-Marie-Tooth Type 2A. Passage Bio, Inc. has a strategic research collaboration with the Trustees of the University of Pennsylvania's Gene Therapy Program; and collaboration agreement, and a development services and clinical supply agreement with Catalent Maryland, Inc. The company was incorporated in 2017 and is headquartered in Philadelphia, Pennsylvania.Show more
  • Revenue $0
  • EBITDA -$67M +30.2%
  • Net Income -$65M +36.5%
  • EPS (Diluted) -21.44 +42.5%
  • Gross Margin -
  • EBITDA Margin -
  • Operating Margin -
  • Net Margin -
  • ROE -75.07% -15.0%
  • ROIC -63.99% -32.0%
  • Debt/Equity 0.42 +76.0%
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Momentum leader: RS Rating 96 (top 4%)
  • ✓Trading at only 0.7x book value

✗Weaknesses

  • ✗Weak Piotroski F-Score: 2/9
  • ✗Shares diluted 10.3% 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.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y-
TTM-

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM34.21%

EPS CAGR

10Y-
5Y-
3Y-
TTM38.37%

ROCE

10Y Avg-50.39%
5Y Avg-55.28%
3Y Avg-56.93%
Latest-64.81%

Peer Comparison

Gene Therapy & Rare Diseases
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Valuation
Per Share
Growth
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Quality & Returns
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Momentum & Returns
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Technical
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Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
KRYSKrystal Biotech, Inc.8.18B282.0194.00473.02%53.3%17.48%1.46%0.01
BMRNBioMarin Pharmaceutical Inc.10.58B55.0724.9217.97%16.82%8.59%4.49%0.11
SRPTSarepta Therapeutics, Inc.2.23B21.319.1152.97%-11.25%-20.57%0.88
RAREUltragenyx Pharmaceutical Inc.2.27B23.50-3.7429.01%-91.95%-35.88%0.15
DYNDyne Therapeutics, Inc.2.7B16.42-4.87-61.26%0.04
TVTXTravere Therapeutics, Inc.2.54B28.40-6.9660.55%-20.32%-120.36%6.80
BEAMBeam Therapeutics Inc.3.25B32.05-7.00-83.18%-7.44%-42.92%0.22
SLNOSoleno Therapeutics, Inc.2.25B41.95-9.58-79.5%-15.85%0.22

Profit & Loss

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Sales/Revenue+0000000
Revenue Growth %-------
Cost of Goods Sold+000003.72M0
COGS % of Revenue-------
Gross Profit+00000-3.72M0
Gross Margin %-------
Gross Profit Growth %------1%
Operating Expenses+10.1M37.19M112.9M185.73M138.39M96.42M70.4M
OpEx % of Revenue-------
Selling, General & Admin928K6.95M30.11M60.06M49.34M41.58M24.99M
SG&A % of Revenue-------
Research & Development9.17M30.24M82.79M117.67M86.05M59.56M40.18M
R&D % of Revenue-------
Other Operating Expenses0008M3M-4.72M5.23M
Operating Income+-13.47M-37.19M-112.9M-185.73M-138.39M-100.14M-70.4M
Operating Margin %-------
Operating Income Growth %--1.76%-2.04%-0.65%0.25%0.28%0.3%
EBITDA+-7.42M-37.05M-112.1M-184.19M-134.72M-96.42M-67.32M
EBITDA Margin %-------
EBITDA Growth %--3.99%-2.03%-0.64%0.27%0.28%0.3%
D&A (Non-Cash Add-back)0134K800K1.54M3.68M3.72M3.08M
EBIT-12.77M-36.69M-111.9M-177.73M-135.39M-102.06M-65.17M
Net Interest Income+0696K670K343K2.27M5.6M4.3M
Interest Income0696K670K343K2.27M5.6M4.3M
Interest Expense0000000
Other Income/Expense696K-8.45M670K343K2.27M-1.93M5.63M
Pretax Income+-12.77M-45.63M-112.23M-185.39M-136.13M-102.06M-64.77M
Pretax Margin %-------
Income Tax+0000000
Effective Tax Rate %1%1%1%1%1%1%1%
Net Income+-12.77M-45.63M-112.23M-185.39M-136.13M-102.06M-64.77M
Net Margin %-------
Net Income Growth %--2.57%-1.46%-0.65%0.27%0.25%0.37%
Net Income (Continuing)-12.77M-45.63M-112.23M-185.39M-136.13M-102.06M-64.77M
Discontinued Operations0000000
Minority Interest0000000
EPS (Diluted)+-10.60-45.60-57.80-69.51-50.00-37.29-21.44
EPS Growth %--3.3%-0.27%-0.2%0.28%0.25%0.43%
EPS (Basic)-10.60-45.60-57.80-69.51-50.00-37.29-21.44
Diluted Shares Outstanding1.2M1.2M2.28M2.67M2.72M2.74M3.02M
Basic Shares Outstanding1.2M1.2M2.28M2.67M2.72M2.74M3.02M
Dividend Payout Ratio-------

Balance Sheet

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Total Current Assets+33.4M165.78M317.18M325.07M197.04M117.96M78.81M
Cash & Short-Term Investments24.86M158.87M304.82M315.77M189.61M114.29M76.76M
Cash Only24.86M158.87M135M128.97M34.6M21.71M37.57M
Short-Term Investments00169.81M186.81M155.01M92.58M39.18M
Accounts Receivable0000000
Days Sales Outstanding-------
Inventory0000000
Days Inventory Outstanding-------
Other Current Assets8.44M6.75M10.96M1.73M926K923K838K
Total Non-Current Assets+62K12.84M8.03M30.01M46.51M32.59M23.6M
Property, Plant & Equipment28K1.09M2.79M23.81M42.24M32.15M23.13M
Fixed Asset Turnover-------
Goodwill0000000
Intangible Assets0000000
Long-Term Investments0000000
Other Non-Current Assets34K11.75M5.23M6.2M4.27M433K463K
Total Assets+33.46M178.61M328.01M355.08M243.55M150.54M102.41M
Asset Turnover-------
Asset Growth %-4.34%0.84%0.08%-0.31%-0.38%-0.32%
Total Current Liabilities+307K3.68M21.18M29.5M18.35M16.34M19.36M
Accounts Payable212K629K5.26M9.45M4.07M1.3M742K
Days Payables Outstanding-----127.32-
Short-Term Debt0000003.69M
Deferred Revenue (Current)0000000
Other Current Liabilities7K46K541K661K85K6.64M10.53M
Current Ratio108.79x45.04x14.98x11.02x10.74x7.22x4.07x
Quick Ratio108.79x45.04x14.98x11.02x10.74x7.22x4.07x
Cash Conversion Cycle-------
Total Non-Current Liabilities+45.33M580K2.12M6.92M23.83M22.92M21.79M
Long-Term Debt0000000
Capital Lease Obligations000023.83M22.92M21.79M
Deferred Tax Liabilities0000000
Other Non-Current Liabilities45.33M580K2.12M6.92M000
Total Liabilities45.63M4.26M23.29M36.42M42.18M39.26M41.15M
Total Debt+000027.11M26.29M25.48M
Net Debt-24.86M-158.87M-135M-128.97M-7.49M4.58M-12.1M
Debt / Equity----0.13x0.24x0.42x
Debt / EBITDA-------
Net Debt / EBITDA-------
Interest Coverage-------
Total Equity+-12.17M174.35M304.71M318.66M201.37M111.28M61.26M
Equity Growth %-15.32%0.75%0.05%-0.37%-0.45%-0.45%
Book Value per Share-10.16145.52133.60119.4773.9940.6620.28
Total Shareholders' Equity-12.17M174.35M304.71M318.66M201.37M111.28M61.26M
Common Stock2K3K4K5K5K5K6K
Retained Earnings-13.03M-58.66M-170.9M-356.28M-492.41M-594.47M-659.24M
Treasury Stock0000000
Accumulated OCI0-230.6K-12K-413K-966K-43K8K
Minority Interest0000000

Cash Flow

Dec 2018Dec 2019Dec 2020Dec 2021Dec 2022Dec 2023Dec 2024
Cash from Operations+-18.57M-39.9M-80.52M-126.88M-118.21M-78.26M-47.96M
Operating CF Margin %-------
Operating CF Growth %--1.15%-1.02%-0.58%0.07%0.34%0.39%
Net Income-12.77M-45.63M-112.23M-185.39M-136.13M-102.06M-64.77M
Depreciation & Amortization0134K800K1.54M3.68M3.72M3.08M
Stock-Based Compensation01.45M14.58M32.69M010.92M5.82M
Deferred Taxes00633K2.78M000
Other Non-Cash Items2.73M10.09M1.26M10.07M22.73M3.82M3.71M
Working Capital Changes-8.52M-5.94M14.44M11.42M-8.49M5.34M4.2M
Change in Receivables212K398K00000
Change in Inventory0000000
Change in Payables212K398K4.59M2.2M-5.41M-2.79M-556K
Cash from Investing+-2.54M-1.69M-172.11M-45.81M25.2M65.24M54.95M
Capital Expenditures-2.54M-1.19M-1.65M-25.64M-5.27M-146K-34K
CapEx % of Revenue-------
Acquisitions-------
Investments-------
Other Investing-2.52K-500K-500K-8M000
Cash from Financing+45.97M175.6M228.75M166.66M-1.35M135K8.87M
Debt Issued (Net)-------
Equity Issued (Net)-------
Dividends Paid0000000
Share Repurchases-------
Other Financing0-587K284K-37K-1.79M0132K
Net Change in Cash-------
Free Cash Flow+-21.11M-41.59M-82.17M-152.52M-123.48M-78.41M-47.99M
FCF Margin %-------
FCF Growth %--0.97%-0.98%-0.86%0.19%0.37%0.39%
FCF per Share-17.62-34.71-36.03-57.18-45.37-28.65-15.89
FCF Conversion (FCF/Net Income)1.45x0.87x0.72x0.68x0.87x0.77x0.74x
Interest Paid0000000
Taxes Paid0000000

Key Ratios

Metric2018201920202021202220232024
Return on Equity (ROE)--56.28%-46.85%-59.48%-52.35%-65.29%-75.07%
Return on Invested Capital (ROIC)---91.45%-77.52%-54.12%-48.49%-63.99%
Debt / Equity----0.13x0.24x0.42x
FCF Conversion1.45x0.87x0.72x0.68x0.87x0.77x0.74x

Frequently Asked Questions

Growth & Financials

Passage Bio, Inc. (PASG) grew revenue by 0.0% over the past year. Growth has been modest.

Passage Bio, Inc. (PASG) reported a net loss of $45.3M for fiscal year 2024.

Dividend & Returns

Passage Bio, Inc. (PASG) has a return on equity (ROE) of -75.1%. Negative ROE indicates the company is unprofitable.

Passage Bio, Inc. (PASG) had negative free cash flow of $33.5M in fiscal year 2024, likely due to heavy capital investments.

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