HCW Biologics Inc.
HCWB Nasdaq· Pharmaceutical Preparations
Last close · Oct 26, 2026
$1.10
KIRA · Stoqly’s AI analyst, in plain words
- HCW Biologics Inc. had $0.1M of revenue in fiscal 2025, down 97.9% on the year before. Over five years, revenue changed −57.9% a year on average.
- Its operating margin was −24,285.1%, down 23,137.5 pts: of every 100 in sales, about −24,285 is left after running the business.
- HCW Biologics Inc. lost $8.0M in fiscal 2025.
- Free cash flow was −$13.4M in fiscal 2025, −24,707.7% of revenue.
- HCW Biologics Inc. owes $4.9M more than it holds in cash.
Market cap
$1.5M
P/E
0.0x
Revenue
$0.1M
Net income
−$8.0M
Free cash flow
−$13.4M
Operating margin
−24,285.1%
HCW Biologics Inc. in 30 seconds · fiscal 2025
Are sales growing?
−97.9%
No. Sales fell 97.9% last year.
Does it make a profit?
−14,685.8%
No. It lost money last year.
Does profit turn into cash?
−24,707.7%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 9
Weak. It passes 2 of 9 health tests.
How is the share priced?
0.0x
One share costs 0.0 times its yearly profit per share.
What HCW Biologics Inc. does
No business description yet.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 31, 2026
- Legal name
- HCW Biologics Inc.
- CIK
- 0001828673
HCW Biologics Inc. · HCWB
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $0.0M | $6.7M | $2.8M | $2.6M | $0.1M |
| Revenue growth | −100.0% | — | −57.7% | −9.7% | −97.9% |
| Gross margin | — | 38.5% | 19.7% | 37.4% | 19.9% |
| Operating margin | — | −224.3% | −905.0% | −1,147.6% | −24,285.1% |
| Net income | −$12.9M | −$14.9M | −$25.0M | −$30.0M | −$8.0M |
| Net margin | — | −221.7% | −879.5% | −1,169.7% | −14,685.8% |
| Diluted EPS | −$0.69 | −$0.42 | −$0.70 | −$30.96 | −$10.63 |
| Cash | |||||
| Cash from operations | −$11.0M | −$10.4M | −$22.5M | −$14.2M | −$13.4M |
| Capital expenditure | $0.0M | $10.3M | $6.2M | $0.3M | $0.0M |
| Free cash flow | −$11.0M | −$20.7M | −$28.7M | −$14.5M | −$13.4M |
| FCF margin | — | −307.4% | −1,010.5% | −564.5% | −24,707.7% |
| Share count change | 296.1% | 90.8% | 0.3% | −97.3% | 116.3% |
| Debt and strength | |||||
| Cash and short-term investments | $36.7M | $32.1M | $3.6M | $4.7M | $2.0M |
| Debt incl. finance leases | $0.0M | $6.4M | $6.3M | $13.7M | $6.8M |
| Shareholders' equity | $51.2M | $37.4M | $13.5M | −$6.8M | $2.8M |
| Current ratio | 17.4x | 11.5x | 0.7x | 0.2x | 0.1x |
| Interest coverage | — | −119.0x | −90.9x | −45.0x | −15.6x |
| Returns and quality | |||||
| Return on capital | −72.9% | −101.2% | −125.6% | −1,035.3% | −136.4% |
| Return on equity | −74.6% | −33.6% | −98.2% | −897.4% | — |
| Return on tangible equity | −25.1% | −39.8% | −185.7% | — | −806.5% |
| Piotroski F-score | 3 | 2 | 1 | 3 | 2 |
| Altman Z'' | 24.3 | 3.2 | −13.7 | −22.8 | −22.9 |
Insiders bought, 12 months
$0.5M
4 insiders
Insiders sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
HCW Biologics Inc. · HCWB
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
KIRA
At $1.10 a share, the company is worth $1.5M: 0.0 times its earnings of the last four quarters.
Source: SEC EDGAR XBRL filings (CIK 0001828673). Data updated October 24, 2026. For information only — not investment advice. Check the original filings before relying on any figure.