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Passage Bio, Inc.(PASG)Earnings, Financials & Key Ratios
PASG•NASDAQ
Price updated Jun 19, 2026
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-$42M+37.0%
- Net Income-$46M+29.7%
- EPS (Diluted)-14.35+33.1%
- ROE-113.78%-51.6%
PASG Key Insights
Passage Bio, Inc. (PASG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Strong 5Y profit CAGR of 16.5%
- ✓Trading at only 0.9x book value
✗Weaknesses
- ✗Weak Piotroski F-Score: 1/9
- ✗Weak momentum: RS Rating 7 (bottom 7%)
- ✗Trading more than 30% below 52-week high
- ✗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.
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PASG Price & Volume
Passage Bio, Inc. (PASG) stock price & volume — 10-year historical chart
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PASG Growth Metrics
Passage Bio, Inc. (PASG) 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-
TTM40.63%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM42.2%
Return on Capital
10 Years-52.92%
5 Years-60.02%
3 Years-63.71%
Last Year-70.6%
PASG Recent Earnings
Passage Bio, Inc. (PASG) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)
Q2 2026Latest
May 12, 2026Metric
Actual
Est
EPS
$2.36+14.6%
$2.76
Rev
—
—
Q2 2026
Mar 3, 2026Metric
Actual
Est
EPS
$4.08-86.3%
$2.19
Rev
—
—
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$2.44+7.6%
$2.64
Rev
—
—
Q3 2025
Aug 12, 2025Metric
Actual
Est
EPS
$2.96+26.0%
$4.00
Rev
—
—
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 12, 2026 | $2.36vs $2.76+14.6% | — |
| Q2 2026 | Mar 3, 2026 | $4.08vs $2.19-86.3% | — |
| Q4 2025 | Nov 10, 2025 | $2.44vs $2.64+7.6% | — |
| Q3 2025 | Aug 12, 2025 | $2.96vs $4.00+26.0% | — |
Based on last 12 quarters of dataView full earnings history →
PASG Peer Comparison
Passage Bio, Inc. (PASG) competitors in Cell and Gene Therapy Developers — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 KRYS | 10.26B | 348.06 | 50.89 | 33.94% | 53.92% | 19.25% | 0.01 | |
 RCKT | 365.8M | 3.35 | -1.67 | -70.79% | 0.09 | |||
 RARE | 2.7B | 27.44 | -4.71 | 20.13% | -91.03% | -6.08% | ||
 FOLD | 4.55B | 14.49 | -164.85 | 20.05% | -4.27% | -12.02% | 1.76 | |
 ACAD | 3.7B | 21.62 | 9.44 | 11.87% | 34.3% | 35.65% | 0.04 | |
 PRAX | 8.15B | 282.31 | -20.94 | -100% | -43.02% | 0.00 | ||
 SGMO | 74.57M | 0.18 | -0.41 | -31.57% | -356.89% | -28.92% | ||
 ARWR | 11.52B | 81.82 | -6706.56 | 232.58% | -48.38% | -55.09% | 0.73 |
Compare PASG vs Peers
Passage Bio, Inc. (PASG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
PASG Income Statement
Passage Bio, Inc. (PASG) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue Growth % | - | - | - | - | - | - | - | - | - |
Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 3.72M | 0 | 728K | 329K |
COGS % of Revenue | - | - | - | - | - | - | - | - | - |
Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | -3.72M▲ 0% | 0▲ 100.0% | -728K▲ 0% | -329K▲ 0% |
Gross Margin % | - | - | - | - | - | - | - | - | - |
Gross Profit Growth % | - | - | - | - | - | - | 100% | - | - |
Operating Expenses | 10.1M | 37.19M | 112.9M | 185.73M | 138.39M | 96.42M | 70.4M | 42.42M | 41.39M |
OpEx % of Revenue | - | - | - | - | - | - | - | - | - |
Selling, General & Admin | 928K | 6.95M | 30.11M | 60.06M | 49.34M | 41.58M | 24.99M | 19.88M | 18.58M |
SG&A % of Revenue | - | - | - | - | - | - | - | - | - |
Research & Development | 9.17M | 30.24M | 82.79M | 117.67M | 86.05M | 59.56M | 40.18M | 23.28M | 19.63M |
R&D % of Revenue | - | - | - | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 0 | 8M | 3M | -4.72M | 5.23M | -728K | 671K |
Operating Income | -13.47M▲ 0% | -37.19M▼ 176.2% | -112.9M▼ 203.6% | -185.73M▼ 64.5% | -138.39M▲ 25.5% | -100.14M▲ 27.6% | -70.4M▲ 29.7% | -43.15M▲ 38.7% | -41.72M▲ 0% |
Operating Margin % | - | - | - | - | - | - | - | - | - |
Operating Income Growth % | - | -176.17% | -203.59% | -64.5% | 25.49% | 27.64% | 29.7% | 38.71% | - |
EBITDA | -7.42M | -37.05M | -112.1M | -184.19M | -134.72M | -96.42M | -67.32M | -42.42M | -40.9M |
EBITDA Margin % | - | - | - | - | - | - | - | - | - |
EBITDA Growth % | - | -399.39% | -202.53% | -64.3% | 26.86% | 28.43% | 30.18% | 36.98% | 38.34% |
D&A (Non-Cash Add-back) | 0 | 134K | 800K | 1.54M | 3.68M | 3.72M | 3.08M | 728K | 816K |
EBIT | -12.77M | -36.69M | -111.9M | -177.73M | -135.39M | -102.06M | -65.17M | -43.15M | -36.35M |
Net Interest Income | 0 | 696K | 670K | 343K | 2.27M | 5.6M | 4.3M | 2.3M | 0 |
Interest Income | 0 | 696K | 670K | 343K | 2.27M | 5.6M | 4.3M | 2.3M | 0 |
Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Income/Expense | 696K | -8.45M | 670K | 343K | 2.27M | -1.93M | 5.63M | -2.37M | 4.04M |
Pretax Income | -12.77M▲ 0% | -45.63M▼ 257.4% | -112.23M▼ 145.9% | -185.39M▼ 65.2% | -136.13M▲ 26.6% | -102.06M▲ 25.0% | -64.77M▲ 36.5% | -45.52M▲ 29.7% | -37.68M▲ 0% |
Pretax Margin % | - | - | - | - | - | - | - | - | - |
Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Net Income | -12.77M▲ 0% | -45.63M▼ 257.4% | -112.23M▼ 145.9% | -185.39M▼ 65.2% | -136.13M▲ 26.6% | -102.06M▲ 25.0% | -64.77M▲ 36.5% | -45.52M▲ 29.7% | -37.68M▲ 0% |
Net Margin % | - | - | - | - | - | - | - | - | - |
Net Income Growth % | - | -257.35% | -145.94% | -65.18% | 26.57% | 25.02% | 36.54% | 29.71% | 40.63% |
Net Income (Continuing) | -12.77M | -45.63M | -112.23M | -185.39M | -136.13M | -102.06M | -64.77M | -45.52M | -37.68M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -10.60▲ 0% | -45.60▼ 330.2% | -57.80▼ 26.8% | -69.51▼ 20.3% | -50.00▲ 28.1% | -37.29▲ 25.4% | -21.44▲ 42.5% | -14.35▲ 33.1% | -11.75▲ 0% |
EPS Growth % | - | -330.19% | -26.75% | -20.26% | 28.07% | 25.42% | 42.5% | 33.07% | 42.2% |
EPS (Basic) | -10.60 | -45.60 | -57.80 | -69.51 | -50.00 | -37.29 | -21.44 | -14.35 | - |
Diluted Shares Outstanding | 1.2M | 1.2M | 2.28M | 2.67M | 2.72M | 2.74M | 3.02M | 3.17M | 3.21M |
Basic Shares Outstanding | 1.2M | 1.2M | 2.28M | 2.67M | 2.72M | 2.74M | 3.02M | 3.17M | 3.21M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
PASG Balance Sheet
Passage Bio, Inc. (PASG) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
Total Current Assets | 33.4M | 165.78M | 317.18M | 325.07M | 197.04M | 117.96M | 78.81M | 47.76M | 34.74M |
Cash & Short-Term Investments | 24.86M | 158.87M | 304.82M | 315.77M | 189.61M | 114.29M | 76.76M | 46.3M | 33.34M |
Cash Only | 24.86M | 158.87M | 135M | 128.97M | 34.6M | 21.71M | 37.57M | 46.3M | 33.34M |
Short-Term Investments | 0 | 0 | 169.81M | 186.81M | 155.01M | 92.58M | 39.18M | 0 | 0 |
Accounts Receivable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Sales Outstanding | - | - | - | - | - | - | - | - | - |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - | - |
Other Current Assets | 8.44M | 6.75M | 10.96M | 1.73M | 926K | 923K | 838K | 1.46M | 1.41M |
Total Non-Current Assets | 62K | 12.84M | 8.03M | 30.01M | 46.51M | 32.59M | 23.6M | 14.52M | 1.72M |
Property, Plant & Equipment | 28K | 1.09M | 2.79M | 23.81M | 42.24M | 32.15M | 23.13M | 14.28M | 1.48M |
Fixed Asset Turnover | - | - | - | - | - | - | - | - | 0.00x |
Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 34K | 11.75M | 5.23M | 6.2M | 4.27M | 433K | 463K | 244K | 244K |
Total Assets | 33.46M▲ 0% | 178.61M▲ 433.8% | 328.01M▲ 83.6% | 355.08M▲ 8.3% | 243.55M▼ 31.4% | 150.54M▼ 38.2% | 102.41M▼ 32.0% | 62.28M▼ 39.2% | 36.46M▲ 0% |
Asset Turnover | - | - | - | - | - | - | - | - | 0.00x |
Asset Growth % | - | 433.79% | 83.64% | 8.25% | -31.41% | -38.19% | -31.97% | -39.19% | -167.27% |
Total Current Liabilities | 307K | 3.68M | 21.18M | 29.5M | 18.35M | 16.34M | 19.36M | 23.08M | 20.1M |
Accounts Payable | 212K | 629K | 5.26M | 9.45M | 4.07M | 1.3M | 742K | 1.11M | 1.31M |
Days Payables Outstanding | - | - | - | - | - | 127.32 | - | 558.03 | 1.6K |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 3.69M | 3.57M | 1.15M |
Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 7K | 46K | 541K | 661K | 85K | 6.64M | 10.53M | 18.4M | 17.64M |
Current Ratio | 108.79x | 45.04x | 14.98x | 11.02x | 10.74x | 7.22x | 4.07x | 2.07x | 1.73x |
Quick Ratio | 108.79x | 45.04x | 14.98x | 11.02x | 10.74x | 7.22x | 4.07x | 2.07x | 1.73x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - | - |
Total Non-Current Liabilities | 45.33M | 580K | 2.12M | 6.92M | 23.83M | 22.92M | 21.79M | 20.44M | 4.61M |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 20.44M | 4.61M |
Capital Lease Obligations | 0 | 0 | 0 | 0 | 23.83M | 22.92M | 21.79M | 0 | 21.14M |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 45.33M | 580K | 2.12M | 6.92M | 0 | 0 | 0 | 0 | 0 |
Total Liabilities | 45.63M | 4.26M | 23.29M | 36.42M | 42.18M | 39.26M | 41.15M | 43.53M | 24.71M |
Total Debt | 0 | 0 | 0 | 0 | 27.11M | 26.29M | 25.48M | 24.01M | 5.75M |
Net Debt | -24.86M | -158.87M | -135M | -128.97M | -7.49M | 4.58M | -12.1M | -22.29M | -27.58M |
Debt / Equity | - | - | - | - | 0.13x | 0.24x | 0.42x | 1.28x | 0.49x |
Debt / EBITDA | - | - | - | - | - | - | - | - | -0.14x |
Net Debt / EBITDA | - | - | - | - | - | - | - | - | 0.67x |
Interest Coverage | - | - | - | - | - | - | - | - | - |
Total Equity | -12.17M▲ 0% | 174.35M▲ 1532.3% | 304.71M▲ 74.8% | 318.66M▲ 4.6% | 201.37M▼ 36.8% | 111.28M▼ 44.7% | 61.26M▼ 45.0% | 18.75M▼ 69.4% | 11.75M▲ 0% |
Equity Growth % | - | 1532.28% | 74.77% | 4.58% | -36.81% | -44.74% | -44.95% | -69.39% | -259.18% |
Book Value per Share | -10.16 | 145.52 | 133.60 | 119.47 | 73.99 | 40.66 | 20.28 | 5.91 | 3.67 |
Total Shareholders' Equity | -12.17M | 174.35M | 304.71M | 318.66M | 201.37M | 111.28M | 61.26M | 18.75M | 11.75M |
Common Stock | 2K | 3K | 4K | 5K | 5K | 5K | 6K | 0 | 0 |
Retained Earnings | -13.03M | -58.66M | -170.9M | -356.28M | -492.41M | -594.47M | -659.24M | -704.76M | -712.32M |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | -230.6K | -12K | -413K | -966K | -43K | 8K | 0 | 0 |
Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PASG Cash Flow Statement
Passage Bio, Inc. (PASG) cash flow — operating, investing & free cash flow history
| Metric | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|
Cash from Operations | -18.57M | -39.9M | -80.52M | -126.88M | -118.21M | -78.26M | -47.96M | -31.51M | -30.65M |
Operating CF Margin % | - | - | - | - | - | - | - | - | - |
Operating CF Growth % | - | -114.88% | -101.82% | -57.57% | 6.83% | 33.79% | 38.73% | 34.3% | 116.13% |
Net Income | -12.77M | -45.63M | -112.23M | -185.39M | -136.13M | -102.06M | -64.77M | -45.52M | -37.68M |
Depreciation & Amortization | 0 | 134K | 800K | 1.54M | 3.68M | 3.72M | 3.08M | 857K | 675K |
Stock-Based Compensation | 0 | 1.45M | 14.58M | 32.69M | 18.95M | 10.92M | 5.82M | 3M | 1.53M |
Deferred Taxes | 0 | 0 | 633K | 2.78M | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 2.73M | 10.09M | 1.26M | 10.07M | 3.77M | 3.82M | 3.71M | 6.16M | 22K |
Working Capital Changes | -8.52M | -5.94M | 14.44M | 11.42M | -8.49M | 5.34M | 4.2M | 4M | 4.8M |
Change in Receivables | 212K | 398K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 212K | 398K | 4.59M | 2.2M | -5.41M | -2.79M | -556K | 1.88M | 1.36M |
Cash from Investing | -2.54M | -1.69M | -172.11M | -45.81M | 25.2M | 65.24M | 54.95M | 40.22M | 605K |
Capital Expenditures | -2.54M | -1.19M | -1.65M | -25.64M | -5.27M | -146K | -34K | 0 | 0 |
CapEx % of Revenue | - | - | - | - | - | - | - | - | - |
Acquisitions | 0 | 0 | 500K | 8M | 0 | 0 | 0 | 1.17M | 605K |
Investments | - | - | - | - | - | - | - | - | - |
Other Investing | -2.52K | -500K | -500K | -8M | 0 | 0 | 0 | 0 | 0 |
Cash from Financing | 45.97M | 175.6M | 228.75M | 166.66M | -1.35M | 135K | 8.87M | 23K | 23K |
Debt Issued (Net) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Equity Issued (Net) | 45.97M | 176.19M | 228.47M | 166.69M | 433K | 135K | 8.74M | 23K | 23K |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14K |
Other Financing | 0 | -587K | 284K | -37K | -1.79M | 0 | 132K | 0 | 0 |
Net Change in Cash | 24.86M▲ 0% | 134.01M▲ 439.0% | -23.87M▼ 117.8% | -6.04M▲ 74.7% | -94.36M▼ 1463.1% | -12.89M▲ 86.3% | 15.86M▲ 223.1% | 8.73M▼ 45.0% | -30.02M▲ 0% |
Free Cash Flow | -21.11M▲ 0% | -41.59M▼ 97.0% | -82.17M▼ 97.6% | -152.52M▼ 85.6% | -123.48M▲ 19.0% | -78.41M▲ 36.5% | -47.99M▲ 38.8% | -31.51M▲ 34.3% | -30.65M▲ 0% |
FCF Margin % | - | - | - | - | - | - | - | - | - |
FCF Growth % | - | -97.01% | -97.57% | -85.63% | 19.04% | 36.5% | 38.8% | 34.34% | 28.57% |
FCF per Share | -17.62 | -34.71 | -36.03 | -57.18 | -45.37 | -28.65 | -15.89 | -9.93 | -9.56 |
FCF Conversion (FCF/Net Income) | 1.45x | 0.87x | 0.72x | 0.68x | 0.87x | 0.77x | 0.74x | 0.69x | 0.81x |
Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
PASG Key Ratios
Passage Bio, Inc. (PASG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -56.28% | -46.85% | -59.48% | -52.35% | -65.29% | -75.07% | -113.78% | -150.88% |
Return on Invested Capital (ROIC) | - | -91.45% | -77.52% | -54.12% | -48.49% | -63.99% | -141.86% | 1105.57% |
Debt / Equity | - | - | - | 0.13x | 0.24x | 0.42x | 1.28x | 0.49x |
FCF Conversion | 0.87x | 0.72x | 0.68x | 0.87x | 0.77x | 0.74x | 0.69x | 0.81x |
Related:PASG Dividend History·PASG Revenue History·PASG Price History·PASG P/E History·PASG Financial Ratios·PASG Institutional Holders
PASG SEC Filings & Documents
Passage Bio, Inc. (PASG) SEC filings — annual & quarterly reports (10-K, 10-Q)
PASG Frequently Asked Questions
Passage Bio, Inc. (PASG) stock FAQ — growth, dividends, profitability & financials explained
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 $37.7M for fiscal year 2025.
Dividend & Returns
Passage Bio, Inc. (PASG) has a return on equity (ROE) of -113.8%. Negative ROE indicates the company is unprofitable.
Passage Bio, Inc. (PASG) had negative free cash flow of $30.6M in fiscal year 2025, likely due to heavy capital investments.