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Data is in US dollars, converted at the ECB reference rate of Oct 23, 2026.

GH Research PLC

GHRS Nasdaq Pharmaceutical Preparations Financials FY2019โ€“FY2025

Last close ยท Oct 23, 2026

$18.07

2.3%
Compare
Revenue Total sales reported in the income statement.
โ€”
vs prior year
Operating margin Operating income as a share of revenue.
โ€”
Net income Profit after all expenses, interest and tax.
โˆ’$48.3M
Free cash flow Cash from operations minus capital spending.
โˆ’$43.7M
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โˆ’143.4%
92.5ย pts
Market cap Last close times the latest diluted share count, so it is approximate.
$1.1B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
โ€”
On โˆ’$0.79 EPS (TTM)

What GH Research PLC does

No business description yet.

Legal name
GH Research PLC
Fiscal year ends
December 31, 2025
Latest annual report
20-F ยท Mar 5, 2026
Accession ยท CIK
0001140361-26-007986
0001855129

Revenue and margins

GH Research PLC had โ€” of revenue in fiscal 2025.

Revenue
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was โˆ’$43.7M in fiscal 2025, โ€” of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

GH Research PLC returned โ€” to shareholders in fiscal 2025. The diluted share count rose 17.3%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably GH Research PLC can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $277M$166M$78.4M$101M$246M
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$0.0M
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Interest coverage โˆ’1,677.8xโ€”โˆ’654.3xโˆ’70.2xโˆ’131.1x
Current ratio 101.8x37.1x24.5x17.2x34.1x
Quick ratio 101.8x37.1x24.5x17.2x34.1x
Total assets $280M$254M$226M$188M$288M
Total liabilities $2.7M$4.5M$7.3M$9.3M$8.5M
Shareholders' equity $277M$250M$219M$179M$280M
Net debt (โˆ’ = net cash) โˆ’$277Mโˆ’$166Mโˆ’$78.4Mโˆ’$101Mโˆ’$246M

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โ€œPlanโ€ marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$0.0M

0 insiders

Of sales under plans

โ€”

$0.0M

No open-market insider trades in the last 12 months.

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8โ€“9 is strong, 0โ€“2 weak.

TestFY19FY20FY21FY22FY23FY24FY25
Net income is positive โœ• โœ• โœ• โœ• โœ• โœ• โœ•
Cash from operations is positive โœ• โœ• โœ• โœ• โœ• โœ• โœ•
Return on assets rose โ€” โ€” โœ“ โœ• โœ• โœ• โœ“
Cash from operations exceeds net income โœ“ โœ“ โœ• โœ• โœ“ โœ• โœ“
Debt fell relative to assets โ€” โ€” โ€” โœ• โœ• โœ• โœ•
Current ratio rose โ€” โ€” โœ“ โœ• โœ• โœ• โœ“
Share count didn't rise โ€” โœ• โœ• โœ• โœ• โœ• โœ•
Gross margin rose โ€” โ€” โ€” โ€” โ€” โ€” โ€”
Revenue rose relative to assets โ€” โ€” โ€” โ€” โ€” โ€” โ€”
F-score โ€” / 3โ€” / 4โ€” / 60 / 71 / 70 / 73 / 7
Accruals ratio โ€”โˆ’2.0%4.3%1.4%โˆ’0.9%1.6%โˆ’2.0%
Altman Z'' โ€”29.50111.8860.7133.7221.5837.60

7 years of figures

Amounts in USD. Hover a ratioโ€™s name for its definition.

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Research and development $0.3M $0.3M $8.6M $20.5M $29.8M $35.0M $38.8M
Operating income โˆ’$0.3M โˆ’$0.4M โˆ’$15.1M โˆ’$30.6M โˆ’$41.2M โˆ’$50.3M โˆ’$60.7M
Interest expense $0.0M $0.0M $0.0M $0.0M $0.1M $0.7M $0.5M
Pretax income โˆ’$0.3M โˆ’$0.4M โˆ’$9.2M โˆ’$22.5M โˆ’$35.6M โˆ’$39.0M โˆ’$48.3M
Income tax $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Net income โˆ’$0.3M โˆ’$0.4M โˆ’$9.2M โˆ’$22.5M โˆ’$35.6M โˆ’$39.0M โˆ’$48.3M
Net income to common โˆ’$0.3M โˆ’$0.4M โˆ’$9.2M โˆ’$22.5M โˆ’$35.6M โˆ’$39.0M โˆ’$48.3M
Diluted EPS โˆ’$0.01 โˆ’$0.02 โˆ’$0.21 โˆ’$0.43 โˆ’$0.68 โˆ’$0.75 โˆ’$0.79
Diluted shares 0.03B 0.03B 0.04B 0.05B 0.05B 0.05B 0.06B
Cash flow
Cash from operations โˆ’$0.3M โˆ’$0.3M โˆ’$15.3M โˆ’$26.2M โˆ’$33.3M โˆ’$42.3M โˆ’$43.6M
Capital expenditure $0.0M $0.0M $0.1M $0.1M $0.1M $0.0M $0.1M
Free cash flow โˆ’$0.3M โˆ’$0.3M โˆ’$15.4M โˆ’$26.3M โˆ’$33.4M โˆ’$42.3M โˆ’$43.7M
Depreciation and amortization $0.0M $0.0M $0.0M $0.0M $0.3M $0.3M $0.3M
Stock-based compensation $0.0M $0.0M $0.4M $1.7M $2.3M $1.2M $8.5M
Balance sheet
Cash and short-term investments $0.5M $5.9M $277M $166M $78.4M $101M $246M
Total debt โ€” โ€” $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets โ€” $5.9M $280M $169M $164M $154M $286M
Current liabilities โ€” $0.2M $2.7M $4.5M $6.7M $9.0M $8.4M
Property and equipment, net โ€” $0.0M $0.1M $0.1M $1.1M $0.7M $0.6M
Total assets โ€” $5.9M $280M $254M $226M $188M $288M
Total liabilities โ€” $0.2M $2.7M $4.5M $7.3M $9.3M $8.5M
Shareholders' equity $0.4M $5.7M $277M $250M $219M $179M $280M
Returns
Return on capital โ€” โ€” โˆ’2,989.7% โˆ’28.8% โˆ’23.2% โˆ’50.9% โˆ’143.4%
Return on capital employed โ€” โˆ’7.9% โˆ’5.4% โˆ’12.2% โˆ’18.8% โˆ’28.1% โˆ’21.7%
Return on equity โˆ’77.5% โˆ’14.7% โˆ’6.5% โˆ’8.5% โˆ’15.2% โˆ’19.6% โˆ’21.0%
Return on assets โ€” โˆ’7.5% โˆ’6.4% โˆ’8.4% โˆ’14.8% โˆ’18.8% โˆ’20.3%
Return on tangible equity โˆ’77.5% โˆ’7.9% โˆ’3.3% โˆ’9.0% โˆ’16.3% โˆ’21.8% โˆ’17.3%
Growth
Share count change โ€” 1.3% 54.0% 19.1% 0.0% 0.0% 17.3%
Financial health
Debt / equity โ€” โ€” 0.0x 0.0x 0.0x 0.0x 0.0x
Interest coverage โ€” โ€” โˆ’1,677.8x โ€” โˆ’654.3x โˆ’70.2x โˆ’131.1x
Current ratio โ€” 24.0x 101.8x 37.1x 24.5x 17.2x 34.1x
Quick ratio โ€” 24.0x 101.8x 37.1x 24.5x 17.2x 34.1x
Quality scores
Piotroski F-score โ€” โ€” โ€” 0.0 1.0 0.0 3.0
Altman Z'' โ€” 29.5 111.9 60.7 33.7 21.6 37.6
Accruals ratio โ€” โˆ’2.0% 4.3% 1.4% โˆ’0.9% 1.6% โˆ’2.0%

Source: SEC EDGAR XBRL filings (CIK 0001855129). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only โ€” not investment advice. Check the original filings before relying on any figure.

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