The company's equity base has contracted significantly from $207.7 million in 2023Q4 to $149.3 million in 2026Q1, reflecting the ongoing erosion of shareholder value through persistent operational deficits.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 615.74M | 655.99M | 390.29M | 651.85M | 476.77M | 628.24M | 258.91M | 384.21M | 236.58M | 162.78M | 143.95M | 229.03M | 69.78M | 38.19M | 1.46M | 2.83M |
| Cash & Short-Term Investments | 586.55M | 622.54M | 367.52M | 617.89M | 352.84M | 556.26M | 244.93M | 377.79M | 234.9M | 159.37M | 132.5M | 222.52M | 64.71M | 32.88M | 347.82K | 1.43M |
| Cash Only | 139.99M | 80.24M | 158.93M | 241.36M | 228.01M | 556.26M | 244.93M | 377.79M | 234.9M | 159.37M | 132.5M | 222.52M | 64.71M | 32.88M | 347.82K | 1.43M |
| Short-Term Investments | 446.56M | 542.3M | 208.59M | 376.53M | 124.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 12.61M | 12.94M | 5.88M | 4.19M | 102.38M | 58.77M | 6.62M | 947K | 233K | 1.59M | 9.18M | 4.13M | 4.18M | 3.57M | 1.11M | 1.4M |
| Days Sales Outstanding | 176.68 | 293.37 | 79.15 | 96.6 | 350.92 | 40.94 | 64.39 | 47.47 | 7.54 | 44.17 | 133.5 | 146.26 | 267.7 | 320.66 | - | - |
| Inventory | 0 | 0 | 0 | 12.02M | 6.92M | 0 | 0 | 0 | 1.12M | 1.14M | 996K | 475.59K | 243.2K | 1.19M | -1.11M | 0 |
| Days Inventory Outstanding | - | - | - | 322.04 | 755.99 | - | - | - | 5.58 | 6.17 | 5 | 271.87 | 2.04 | 394.66 | - | - |
| Other Current Assets | 16.59M | 20.51M | 7.61M | 2.65M | 2.81M | 2.67M | 3.02M | -3.97M | 329K | 687K | 1.27M | 1.19M | 321.74K | 2.98M | 0 | 0 |
| Total Non-Current Assets | 162.96M | 168.92M | 166.25M | 179.84M | 228.19M | 180.94M | 81.48M | 64.42M | 37.33M | 46.09M | 46.32M | 35.66M | 46.69M | 15.62M | 5.9M | 4.69M |
| Property, Plant & Equipment | 24.27M | 26.32M | 34.07M | 75.34M | 83.26M | 69.08M | 58.41M | 55.57M | 29.18M | 34.28M | 35.7M | 26.04M | 23.92M | 3.61M | 1.57M | 1.16M |
| Fixed Asset Turnover | 0.66x | 0.61x | 0.80x | 0.21x | 1.28x | 7.59x | 0.64x | 0.13x | 0.39x | 0.38x | 0.70x | 0.40x | 0.24x | 1.13x | - | - |
| Goodwill | 24.81M | 25.36M | 22.41M | 26.38M | 25.58M | 27.63M | 542K | 496K | 506K | 530K | 465K | 483.24K | 1.63M | 0 | 0 | 0 |
| Intangible Assets | 69.99M | 72.79M | 71.04M | 60.48M | 58.78M | 62.69M | 3.36M | 5.43M | 5.2M | 8.8M | 8.32M | 7.88M | 19.9M | 10.74M | 4.34M | 3.53M |
| Long-Term Investments | 120.12M | 30.24M | 27.46M | 2.18M | 39.98M | 0 | 2.75M | 2.93M | 2.44M | 2.48M | 1.83M | 1.24M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 5.54M | 5.56M | 1.4M | 3.18M | 6.06M | 5.9M | 0 | 2.93M | 2.44M | 2.48M | 1.83M | 1.25M | 1.24M | 1.27M | 0 | 0 |
| Total Assets | 778.71M | 824.91M | 556.54M | 831.69M | 704.96M | 809.18M | 340.39M | 448.63M | 273.91M | 208.88M | 190.26M | 264.69M | 116.48M | 53.81M | 7.36M | 7.52M |
| Asset Turnover | 0.02x | 0.02x | 0.05x | 0.02x | 0.15x | 0.65x | 0.11x | 0.02x | 0.04x | 0.06x | 0.13x | 0.04x | 0.05x | 0.08x | - | - |
| Asset Growth % | 94.44% | 48.22% | -33.08% | 17.98% | -12.88% | 137.72% | -24.13% | 63.79% | 31.13% | 9.78% | -28.12% | 127.25% | 116.45% | 630.89% | -2.13% | - |
| Total Current Liabilities | 59.2M | 62.92M | 40.05M | 73.67M | 75.92M | 36.76M | 27.33M | 31.63M | 19.97M | 19.29M | 22.72M | 26.65M | 14.92M | 14.43M | 7.36M | 4.76M |
| Accounts Payable | 4.4M | 5.17M | 7.23M | 6.59M | 10.98M | 2.5M | 3.77M | 5.68M | 3.79M | 2.91M | 5.52M | 4.06M | 3.93M | 4.83M | 759.76K | 2.25M |
| Days Payables Outstanding | 416.22 | 1.12K | 143.93 | 176.39 | 1.2K | 36.56 | 11.25 | - | 18.94 | 15.75 | 27.74 | 2.32K | 32.9 | 1.6K | 20.56 | - |
| Short-Term Debt | 2.99M | 3.86M | 0 | 0 | 8.38M | 5.77M | 5.52M | 0 | 0 | 1.05M | 605K | 5.58M | 829.32K | 1.17M | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 11.12M | 13.01M | 2.08M | 7.63M | 7.63M | 4.61M | 6.14M | 6.81M | 1.61M | 1.77M | 0 | 0 |
| Other Current Liabilities | 51.81M | 53.89M | 19.12M | 45.91M | 28.23M | 2.87M | 8.27M | 0 | 856K | 2.67M | 1.07M | 10.3M | 6.6M | 6.66M | 4.59M | 2.51M |
| Current Ratio | 10.40x | 10.43x | 9.74x | 8.85x | 6.28x | 17.09x | 9.47x | 12.15x | 11.85x | 8.44x | 6.34x | 8.59x | 4.68x | 2.65x | 0.20x | 0.59x |
| Quick Ratio | 10.40x | 10.43x | 9.74x | 8.68x | 6.19x | 17.09x | 9.47x | 12.15x | 11.79x | 8.38x | 6.29x | 8.58x | 4.66x | 2.56x | 0.35x | 0.59x |
| Cash Conversion Cycle | -239.54 | - | - | 242.25 | -92.36 | - | - | - | -5.83 | 34.59 | 110.77 | -1.9K | 236.84 | -880.41 | - | - |
| Total Non-Current Liabilities | 570.17M | 563.09M | 523.24M | 550.34M | 153.04M | 176.64M | 69.16M | 93.94M | 74.33M | 99.64M | 103.91M | 107.41M | 49.16M | 31.7M | 595.13K | 6.12M |
| Long-Term Debt | 60.33M | 522.9M | 51.32M | 101.75M | 102.79M | 100.96M | 35.62M | 36.06M | 35.47M | 19.74M | 19.63M | 14.63M | 19.96M | 8.69M | 0 | 0 |
| Capital Lease Obligations | 31.14M | 9.83M | 11.14M | 28.32M | 31.72M | 28.99M | 30.4M | 31.13M | 0 | 0 | 0 | 0 | 162.94K | 417.02K | 595.13K | 233.3K |
| Deferred Tax Liabilities | 31.68M | 7.97M | 7.04M | 7.54M | 8.26M | 12.91M | 0 | 0 | 9.56M | 10.41M | 6.78M | 6.85M | 1.68M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 502.04M | 22.39M | 453.73M | 412.74M | 10.27M | 33.78M | 3.14M | 3.61M | 10M | 13.91M | 8.67M | 85.92M | 8.41M | -7.8M | 0 | 5.89M |
| Total Liabilities | 629.36M | 626.01M | 563.29M | 624.02M | 228.96M | 213.4M | 96.49M | 125.57M | 94.3M | 118.93M | 126.63M | 134.06M | 64.09M | 46.13M | 7.95M | 10.88M |
| Total Debt | 63.32M | 536.59M | 66.06M | 138.41M | 142.89M | 135.72M | 71.54M | 73.06M | 35.47M | 20.18M | 20.24M | 21.18M | 20.96M | 11.17M | 595.13K | 233.3K |
| Net Debt | -76.67M | 456.35M | -92.87M | -102.95M | -85.12M | -420.53M | -173.39M | -304.73M | -199.43M | -139.2M | -112.26M | -201.34M | -43.76M | -21.71M | 247.31K | -1.19M |
| Debt / Equity | 0.42x | 2.70x | - | 0.67x | 0.30x | 0.23x | 0.29x | 0.23x | 0.20x | 0.22x | 0.32x | 0.16x | 0.40x | 1.45x | - | - |
| Debt / EBITDA | -0.36x | - | - | - | - | 0.43x | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.43x | - | - | - | - | -1.32x | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -2.76x | -2.12x | -2.72x | -6.38x | -9.96x | 41.70x | -35.98x | -31.60x | -37.46x | -31.20x | -32.25x | -31.37x | -22.06x | -28.93x | -171.23x | -46.04x |
| Total Equity | 149.34M | 198.9M | -6.75M | 207.67M | 476.01M | 595.78M | 243.91M | 323.06M | 179.61M | 89.94M | 63.63M | 130.63M | 52.39M | 7.68M | -592.48K | -3.36M |
| Equity Growth % | 3594.81% | 3045.81% | -103.25% | -56.37% | -20.1% | 144.27% | -24.5% | 79.87% | 99.68% | 41.35% | -51.29% | 149.34% | 581.89% | 1396.78% | 82.37% | - |
| Book Value per Share | 2.38 | 3.46 | -0.14 | 4.36 | 10.19 | 12.72 | 5.49 | 8.08 | 5.04 | 3.33 | 2.54 | 5.92 | 3.06 | 0.44 | -0.03 | -0.19 |
| Total Shareholders' Equity | 149.34M | 198.9M | -6.75M | 207.67M | 476.01M | 595.78M | 243.91M | 323.06M | 179.61M | 89.94M | 63.63M | 130.63M | 52.39M | 7.68M | -592.48K | -3.36M |
| Common Stock | 3.73M | 3.69M | 2.94M | 2.88M | 2.84M | 2.8M | 2.71M | 2.65M | 2.3M | 1.95M | 1.59M | 1.33M | 1.1M | 842.33K | 638.77K | 307.17K |
| Retained Earnings | -1.38B | -1.33B | -1.13B | -890.41M | -581.93M | -455.14M | -784.73M | -659.71M | -535.51M | -467.12M | -396.06M | -276.13M | -220.2M | -198.9M | -155.04M | -136.74M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -59.88M | -58.22M | -52.8M | -53.55M | -58.29M | -28.86M | 9.91M | -6.69M | -7.26M | 39.08M | -6.56M | 28.45M | 20.85M | 9.03M | 1.99M | 3.54M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Clinical trial binary outcomes
As reported in recent financial statements, uniQure's equity base has experienced significant contraction, falling from $207.7 million in 2023Q4 to $149.3 million by 2026Q1, reflecting the persistent impact of accumulated losses on the company's overall financial position during this intensive clinical development phase.
The consistent decline in retained earnings, which reached -$1.4 billion in 2026Q1, indicates that the company is consuming capital at a rate that outpaces its ability to generate internal value. This trajectory suggests that the balance sheet is becoming increasingly reliant on external financing or asset monetization to maintain operations.
Based on the company's reported figures, debt levels have fluctuated significantly, with the debt-to-equity ratio spiking to 2.70 in 2025Q4 before settling at 0.42 in 2026Q1, highlighting the company's reliance on debt instruments to bridge liquidity gaps during periods of high clinical trial expenditure.
The volatility in leverage metrics suggests that management is utilizing debt as a tactical stopgap rather than a strategic capital structure choice. Investors should monitor whether these debt obligations create restrictive covenants that could limit future operational flexibility as the company approaches critical data readouts.
According to quarterly balance sheet data, uniQure's cash position has been highly unstable, dropping from $241.4 million in 2023Q4 to $140.0 million in 2026Q1, which underscores the ongoing pressure on the firm's liquidity buffer as it funds its specialized manufacturing and R&D infrastructure.
While the current ratio remains elevated at 10.40, this metric is heavily influenced by the composition of current assets and may not accurately reflect the immediate cash availability for operational burn. The rapid depletion of cash reserves warrants close investigation into the company's ability to sustain its current pipeline without further dilutive events.
As detailed in recent SEC filings, the company's asset base is increasingly dominated by intangible assets and goodwill, which totaled $24.8 million in 2026Q1, potentially overstating the tangible value available to shareholders should the clinical pipeline fail to meet its primary efficacy endpoints.
The reliance on intangible assets suggests that the balance sheet's book value is highly sensitive to impairment risks if the underlying gene therapy programs do not achieve commercial success. This creates a disconnect between the reported asset value and the potential liquidation value of the firm's specialized manufacturing assets.
Quick answers to the most common questions about buying QURE stock.
As of 2025, uniQure N.V. (QURE) had total assets of $824.9M including $656.0M in current assets.
uniQure N.V. (QURE) carries total debt of $536.6M, offset by $622.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
uniQure N.V. (QURE) has total shareholders' equity (book value) of $198.9M ($3.46 book value per share). Book value represents the net worth of the company belonging to common stock holders.
uniQure N.V. (QURE) reported a current ratio of 10.43x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.