The company's financial position is characterized by a significant $547.7 million accumulated deficit, though it maintains a conservative capital structure with a debt-to-equity ratio of only 0.01.
| Total Current Assets | 366.68M | 305.7M | 232.76M | 215.34M | 244.07M | 229.22M | 293.93M | 226.03M | 106.14M | 1.91M |
| Cash & Short-Term Investments | 343.55M | 284.67M | 216.9M | 201.39M | 229.59M | 219.81M | 287.31M | 222.47M | 105.4M | 1.8M |
| Cash Only | 155.66M | 84.22M | 127.98M | 191.44M | 113.56M | 144.9M | 287.31M | 222.47M | 105.4M | 1.8M |
| Short-Term Investments | 187.89M | 200.45M | 88.92M | 9.95M | 116.04M | 74.92M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 6.14M | 7.91M | 700K | 64K | 588K | 132K | 6K | 281K | 196K | 0 |
| Days Sales Outstanding | 75.39 | 15.65 | 6.99 | 2.66 | 17.3 | - | - | - | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 6.88M | 13.13M | 4.04M | 2.56M | 2.96M | 2.33M | 181K | 0 | 0 | 0 |
| Total Non-Current Assets | 76.6M | 112.73M | 38.8M | 13M | 12M | 9.65M | 4M | 2.72M | 1.4M | 529K |
| Property, Plant & Equipment | 5.89M | 6.25M | 8.25M | 12.43M | 11.43M | 9.08M | 3.79M | 2.51M | 1.19M | 473K |
| Fixed Asset Turnover | 5.03x | 29.52x | 4.43x | 0.71x | 1.09x | - | - | - | - | - |
| 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 | 258.28M | 0 | 29.82M | 0 | 0 | 0 | 0 | 0 | 204K | 56K |
| Other Non-Current Assets | 0 | 106.49M | 721K | 569K | 569K | 569K | 205K | 205K | 0 | 0 |
| Total Assets | 443.28M | 418.43M | 271.56M | 228.34M | 256.07M | 238.87M | 297.93M | 228.75M | 107.54M | 2.44M |
| Asset Turnover | 0.08x | 0.44x | 0.13x | 0.04x | 0.05x | - | - | - | - | - |
| Asset Growth % | 110.79% | 54.09% | 18.92% | -10.83% | 7.2% | -19.82% | 30.24% | 112.71% | 4309.14% | - |
| Total Current Liabilities | 40.81M | 57.88M | 40.06M | 30.82M | 31.39M | 17.14M | 11.43M | 4.1M | 2.47M | 3.71M |
| Accounts Payable | 6.84M | 4.94M | 2.5M | 1.7M | 766K | 2.38M | 1.5M | 751K | 1.07M | 141K |
| Days Payables Outstanding | 648.34 | - | - | - | - | - | 283.32 | 609.14 | 1.83K | 455.44 |
| Short-Term Debt | 2.43M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3M |
| Deferred Revenue (Current) | 36.48M | 11.9M | 18.99M | 15.31M | 14.88M | 0 | 0 | 0 | 0 | -3M |
| Other Current Liabilities | 18.39M | 41.03M | 8.44M | 6.47M | 6.26M | 5.92M | 4.58M | 2.11M | 0 | 0 |
| Current Ratio | 8.99x | 5.28x | 5.81x | 6.99x | 7.77x | 13.37x | 25.73x | 55.12x | 43.03x | 0.51x |
| Quick Ratio | 8.99x | 5.28x | 5.81x | 6.99x | 7.77x | 13.37x | 25.73x | 55.12x | 43.03x | 0.51x |
| Cash Conversion Cycle | -572.95 | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 7.59M | 8.1M | 2.48M | 37.96M | 39.82M | 3.95M | 422K | 221K | 4K | 16K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 990K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1K | 8.1M | 2.48M | 4.88M | 2.97M | 3.95M | 422K | 221K | 4K | 16K |
| Total Liabilities | 48.4M | 65.98M | 42.53M | 68.78M | 71.22M | 21.09M | 11.85M | 4.32M | 2.47M | 3.73M |
| Total Debt | 3.42M | 0 | 2.32M | 2.06M | 2.36M | 1.51M | 1.07M | 0 | 0 | 3M |
| Net Debt | -152.24M | -84.22M | -125.66M | -189.38M | -111.2M | -143.39M | -286.24M | -222.47M | -105.4M | 1.2M |
| Debt / Equity | 0.01x | - | 0.01x | 0.01x | 0.01x | 0.01x | 0.00x | - | - | - |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.84x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -53.42x | - | - | - | - | - | - | - | - | - |
| Total Equity | 394.88M | 352.46M | 229.02M | 159.56M | 184.85M | 217.78M | 286.08M | 224.43M | 105.07M | -1.29M |
| Equity Growth % | 137.44% | 53.9% | 43.53% | -13.68% | -15.12% | -23.88% | 27.47% | 113.6% | 8232.2% | - |
| Book Value per Share | 6.26 | 5.95 | 4.24 | 3.63 | 4.75 | 5.93 | 8.54 | 12.49 | 4.47 | -0.05 |
| Total Shareholders' Equity | 394.88M | 352.46M | 229.02M | 159.56M | 184.85M | 217.78M | 286.08M | 224.43M | 105.07M | -1.29M |
| Common Stock | 6K | 5K | 5K | 5K | 4K | 4K | 4K | 3K | 1K | 1K |
| Retained Earnings | -547.72M | -497.71M | -490.83M | -401.85M | -297.15M | -196.08M | -110.28M | -58.03M | -25.71M | -13.19M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -115K | 543K | -151K | -24K | -1.18M | -168K | 0 | 0 | -379K | -172K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Binary clinical trial dependency
As reported in financial statements, Stoke's total assets have fluctuated significantly, peaking at $443.3 million in 2026Q1, yet this growth is primarily driven by volatile cash inflows from milestone payments rather than a sustainable expansion of the company's underlying operational or productive asset base.
The trajectory of the balance sheet appears heavily tethered to the timing of collaboration-related cash receipts, which masks the underlying erosion of equity through persistent net losses. Investors should monitor whether the company can transition from milestone-dependent liquidity to a more stable asset-building phase as clinical programs mature.
Based on recent SEC filings, Stoke's cash and equivalents dropped from a peak of $274.8 million in 2025Q1 to $84.2 million by 2025Q4, indicating a rapid consumption of liquidity that may necessitate future capital raises to sustain ongoing research and development activities.
While the current ratio remains elevated, the absolute cash balance relative to the high burn rate suggests a narrowing window for achieving critical clinical milestones. This liquidity profile implies that the company remains highly sensitive to capital market conditions and the timing of future partnership-related payments.
According to the company's balance sheet data, retained earnings have reached a deficit of $547.7 million as of 2026Q1, reflecting the substantial capital required to fund the TANGO platform's development and the inherent lack of commercial revenue to offset these significant research expenditures.
The persistent negative retained earnings highlight the long-term nature of the company's investment cycle and the reliance on external financing to maintain operations. This structure suggests that shareholder value is currently tied entirely to the potential success of the pipeline rather than the accumulation of book value.
As indicated by the reported figures, deferred revenue has declined from $48.4 million in 2023Q4 to $16.7 million in 2026Q1, suggesting that the company is rapidly exhausting its existing contractual obligations without a commensurate replacement of long-term, high-value partnership agreements to sustain future operations.
The reliance on deferred revenue as a primary balance sheet component distorts the perception of financial stability, as these figures represent future work rather than earned capital. This trend warrants further investigation into the company's ability to secure new, non-dilutive funding sources to replace expiring contractual milestones.
Quick answers to the most common questions about buying STOK stock.
As of 2025, Stoke Therapeutics, Inc. (STOK) had total assets of $418.4M including $305.7M in current assets.
Stoke Therapeutics, Inc. (STOK) carries total debt of $0.0M, offset by $284.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Stoke Therapeutics, Inc. (STOK) has total shareholders' equity (book value) of $352.5M ($5.95 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Stoke Therapeutics, Inc. (STOK) reported a current ratio of 5.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.