PRQR Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
ProQR Therapeutics N.V. had $17.9M of revenue in fiscal 2025, down 12.3% on the year before.
Hi! I read ProQR Therapeutics N.V.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β12.3%
No. Sales fell 12.3% last year.
Does it make a profit?
β265.2%
No. It lost money last year.
Does profit turn into cash?
β338.3%
No. It spent more cash than it brought in.
How healthy are the accounts?
1 / 8
Weak. It passes 1 of 8 health tests.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days ProQR Therapeutics N.V. did it, and the next one. Share prices often move a lot on those days.
Next results
November 5, 2026
Thursday Β· in 10 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Mar 12, 2026 | Q4 '25 | Before the market opens | 20-F β |
| Mar 13, 2025 | Q4 '24 | Before the market opens | 20-F β |
| Mar 13, 2024 | Q4 '23 | Before the market opens | 20-F β |
| Mar 29, 2023 | Period ended Dec 31, 2022 | After the market closes | 20-F β |
| Apr 29, 2022 | Period ended Dec 31, 2021 | Before the market opens | 20-F β |
| Mar 24, 2021 | Period ended Dec 31, 2020 | Before the market opens | 20-F β |
| Mar 31, 2020 | Period ended Dec 31, 2019 | After the market closes | 20-F β |
| Mar 28, 2019 | Period ended Dec 31, 2018 | Before the market opens | 20-F β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· ProQR Therapeutics N.V. had $17.9M of revenue in fiscal 2025, down 12.3% on the year before. Its operating margin was β273.1%, down 112.0Β pts: of every 100 in sales, about β273 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· ProQR Therapeutics N.V. lost $47.6M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$60.7M in fiscal 2025, β338.3% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· ProQR Therapeutics N.V. has $103M more cash than debt.
Cash, debt and the ratios that show how comfortably ProQR Therapeutics N.V. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $212M | $101M | $131M | $155M | $109M |
| Debt incl. finance leases | $49.9M | $7.2M | $4.7M | $4.8M | $5.7M |
| Debt / equity | 0.4x | 0.1x | 0.1x | 0.1x | 0.1x |
| Interest coverage | β16.8x | β12.7x | β26.5x | β28.3x | β46.8x |
| Current ratio | 6.9x | 7.4x | 3.5x | 4.0x | 3.1x |
| Quick ratio | 6.9x | 7.4x | 3.5x | 4.0x | 3.1x |
| Total assets | $237M | $183M | $152M | $174M | $132M |
| Total liabilities | $109M | $112M | $107M | $82.5M | $74.5M |
| Shareholders' equity | $129M | $71.5M | $45.7M | $92.0M | $58.0M |
| Net debt (β = net cash) | β$162M | β$93.9M | β$127M | β$150M | β$103M |
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· ProQR Therapeutics N.V. passes 1 of 8 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 1 / 7 | 4 / 7 | 1 / 7 | 1 / 7 | 2 / 7 | 3 / 8 | 5 / 8 | 4 / 8 | 1 / 8 |
| Accruals ratio | β7.8% | β14.8% | β10.4% | β10.8% | 0.4% | β22.9% | 2.0% | β32.1% | 5.7% | 7.8% |
| Altman Z'' | 2.01 | β3.95 | 4.65 | 0.82 | β5.14 | β0.49 | β3.95 | β6.42 | β3.90 | β11.25 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | β | β | β | β | β | $1.6M | $3.8M | $7.0M | $20.5M | $17.9M |
| Research and development | $35.3M | $35.1M | $34.8M | $52.0M | $43.5M | $49.9M | $53.5M | $27.2M | $39.3M | $50.4M |
| Operating income | β$43.8M | β$45.7M | β$42.8M | β$64.3M | β$48.3M | β$67.7M | β$68.5M | β$34.5M | β$33.0M | β$49.0M |
| Interest expense | β | β | β | $1.2M | $2.3M | $4.0M | $5.4M | $1.3M | $1.2M | $1.0M |
| Pretax income | β$43.2M | β$49.2M | β$43.8M | β$63.4M | β$53.0M | β$71.8M | β$67.4M | β$30.1M | β$30.2M | β$47.5M |
| Income tax | β | $0.0M | $0.0M | $0.1M | $0.1M | $0.1M | $0.1M | β$0.1M | β$0.2M | $0.0M |
| Net income | β$43.2M | β$49.2M | β$43.5M | β$63.2M | β$53.1M | β$71.8M | β$67.7M | β$30.4M | β$30.0M | β$47.6M |
| Net income to common | β$43.2M | β$49.2M | β$43.5M | β$63.2M | β$53.1M | β$71.8M | β$67.7M | β$30.4M | β$30.0M | β$47.6M |
| Diluted EPS | β$1.85 | β$1.94 | β$1.27 | β$1.54 | β$1.06 | β$1.12 | β$0.95 | β$0.38 | β$0.35 | β$0.45 |
| Diluted shares | 0.02B | 0.03B | 0.03B | 0.04B | 0.05B | 0.06B | 0.07B | 0.08B | 0.09B | 0.11B |
| Cash flow | ||||||||||
| Cash from operations | β$37.8M | β$39.4M | β$33.6M | β$49.2M | β$53.6M | β$30.8M | β$72.0M | $23.3M | β$39.4M | β$59.5M |
| Capital expenditure | $2.8M | $0.1M | $0.4M | $0.6M | $1.1M | $0.6M | $0.7M | $1.5M | $1.5M | $1.2M |
| Free cash flow | β$40.7M | β$39.5M | β$34.0M | β$49.9M | β$54.7M | β$31.3M | β$72.7M | $21.8M | β$40.9M | β$60.7M |
| Depreciation and amortization | $1.4M | $1.2M | $1.2M | $2.3M | $2.7M | $2.8M | β | β | β | β |
| Stock-based compensation | $2.7M | $4.5M | $6.4M | $10.2M | $8.9M | $7.4M | $3.0M | $3.4M | $2.8M | $4.5M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $62.4M | $57.7M | $121M | $126M | $93.1M | $212M | $101M | $131M | $155M | $109M |
| Total debt | $6.0M | $8.7M | $10.7M | $14.7M | $21.3M | $49.9M | $7.2M | $4.7M | $4.8M | $5.7M |
| Current assets | $65.4M | $60.6M | $124M | $129M | $98.2M | $217M | $165M | $134M | $160M | $118M |
| Current liabilities | $7.1M | $10.2M | $9.3M | $12.3M | $12.6M | $31.3M | $22.4M | $37.8M | $40.4M | $38.1M |
| Property and equipment, net | $3.6M | $3.0M | $4.8M | $2.7M | $22.8M | $19.8M | $17.3M | β | β | β |
| Intangible assets | $0.1M | $0.0M | β | β | β | β | β | β | β | β |
| Total assets | $69.1M | $63.7M | $126M | $132M | $121M | $237M | $183M | $152M | $174M | $132M |
| Total liabilities | $13.1M | $16.5M | $20.1M | $26.6M | $51.8M | $109M | $112M | $107M | $82.5M | $74.5M |
| Shareholders' equity | $56.0M | $47.2M | $106M | $106M | $70.1M | $129M | $71.5M | $45.7M | $92.0M | $58.0M |
| Margins | ||||||||||
| Operating margin | β | β | β | β | β | β4,225.3% | β1,813.0% | β489.1% | β161.2% | β273.1% |
| EBITDA margin | β | β | β | β | β | β4,053.3% | β | β | β | β |
| Net margin | β | β | β | β | β | β4,486.1% | β1,792.5% | β431.7% | β146.9% | β265.2% |
| FCF margin | β | β | β | β | β | β1,956.9% | β1,925.9% | 309.7% | β200.0% | β338.3% |
| Returns | ||||||||||
| Return on capital employed | β70.6% | β85.3% | β36.6% | β53.7% | β44.5% | β32.8% | β42.7% | β30.1% | β24.6% | β51.9% |
| Return on equity | β77.2% | β95.3% | β56.7% | β59.5% | β60.3% | β72.2% | β67.6% | β51.9% | β43.6% | β63.4% |
| Return on assets | β62.6% | β74.1% | β45.8% | β49.0% | β41.9% | β40.1% | β32.2% | β18.1% | β18.4% | β31.0% |
| Return on tangible equity | β77.3% | β104.3% | β40.9% | β59.7% | β75.8% | β55.7% | β94.7% | β66.5% | β32.6% | β82.0% |
| Growth | ||||||||||
| Revenue growth | β | β | β | β | β | β | 135.9% | 86.5% | 190.3% | β12.3% |
| FCF growth | β | β | β | β | β | β | β | β | β287.5% | β |
| Share count change | β | 8.7% | 34.2% | 20.5% | 22.0% | 28.2% | 11.6% | 13.1% | 6.3% | 22.4% |
| Financial health | ||||||||||
| Debt / equity | 0.1x | 0.2x | 0.1x | 0.1x | 0.3x | 0.4x | 0.1x | 0.1x | 0.1x | 0.1x |
| Interest coverage | β | β | β | β53.0x | β20.8x | β16.8x | β12.7x | β26.5x | β28.3x | β46.8x |
| Current ratio | 9.2x | 6.0x | 13.3x | 10.4x | 7.8x | 6.9x | 7.4x | 3.5x | 4.0x | 3.1x |
| Quick ratio | 9.2x | 6.0x | 13.3x | 10.4x | 7.8x | 6.9x | 7.4x | 3.5x | 4.0x | 3.1x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | β | β | 35.7% | 19.7% | 21.0% | 7.5% | 6.4% |
| Stock comp / revenue | β | β | β | β | β | 459.1% | 79.8% | 47.7% | 13.5% | 25.2% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 1.0 | 4.0 | 1.0 | 1.0 | 2.0 | 3.0 | 5.0 | 4.0 | 1.0 |
| Altman Z'' | 2.0 | β3.9 | 4.6 | 0.8 | β5.1 | β0.5 | β3.9 | β6.4 | β3.9 | β11.2 |
| Accruals ratio | β7.8% | β14.8% | β10.4% | β10.8% | 0.4% | β22.9% | 2.0% | β32.1% | 5.7% | 7.8% |
Source: SEC EDGAR XBRL filings (CIK 0001612940). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in EUR under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only β not investment advice. Check the original filings before relying on any figure.
