MiNK Therapeutics, Inc.
INKT Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2020โFY2025
Last close ยท Oct 23, 2026
$10.71
6.5%
Revenue
Total sales reported in the income statement.
$0.2M
4.4%
vs prior year
Operating margin
Operating income as a share of revenue.
โ7,015.6%
475.4ย pts
Net income
Profit after all expenses, interest and tax.
โ$12.5M
Free cash flow
Cash from operations minus capital spending.
โ
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
$53.8M
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$2.36 EPS (TTM)
What MiNK Therapeutics, Inc. does
No business description yet.
- Legal name
- MiNK Therapeutics, Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K ยท Mar 31, 2026
- Accession ยท CIK
- 0001193125-26-134813
0001840229
Revenue and margins
MiNK Therapeutics, Inc. had $0.2M of revenue in fiscal 2025, up 4.4% on the year before.
FY20
Revenue โ
FY21
Revenue โ$2.4M
FY22
Revenue $0.3M
FY23
Revenue $0.5M
FY24
Revenue $0.2M
FY25
Revenue $0.2M
Q3 '23
Revenue $0.1M
Q4 '23
Revenue $0.0M
Q1 '24
Revenue $0.0M
Q2 '24
Revenue $0.0M
Q3 '24
Revenue $0.1M
Q4 '24
Revenue $0.0M
Q1 '25
Revenue $0.0M
Q2 '25
Revenue $0.0M
Q3 '25
Revenue $0.1M
Q4 '25
Revenue $0.1M
Q1 '26
Revenue $0.1M
Q2 '26
Revenue $0.1M
FY20
Gross โ
Operating โ
Net โ
FCF โ
FY21
Gross โ
Operating 1,166.3%
Net 1,242.5%
FCF 537.8%
FY22
Gross โ
Operating โ12,218.4%
Net โ11,050.6%
FCF โ7,547.1%
FY23
Gross โ
Operating โ4,947.4%
Net โ4,847.4%
FCF โ3,418.1%
FY24
Gross โ
Operating โ6,540.2%
Net โ6,248.4%
FCF โ
FY25
Gross โ
Operating โ7,015.6%
Net โ6,933.6%
FCF โ
Gross
Operating
Net
FCF
Q3 '23
Gross โ
Operating โ4,868.2%
Net โ4,768.2%
FCF โ3,944.2%
Q4 '23
Gross โ
Operating โ13,253.3%
Net โ13,153.3%
FCF โ7,315.4%
Q1 '24
Gross โ
Operating โ23,071.7%
Net โ22,971.7%
FCF โ
Q2 '24
Gross โ
Operating โ7,997.7%
Net โ7,035.9%
FCF โ
Q3 '24
Gross โ
Operating โ2,416.2%
Net โ2,316.2%
FCF โ
Q4 '24
Gross โ
Operating โ6,319.9%
Net โ6,219.9%
FCF โ
Q1 '25
Gross โ
Operating โ20,005.2%
Net โ20,494.1%
FCF โ
Q2 '25
Gross โ
Operating โ1,350,800.0%
Net โ1,412,600.0%
FCF โ
Q3 '25
Gross โ
Operating โ5,767.4%
Net โ5,231.3%
FCF โ
Q4 '25
Gross โ
Operating โ2,433.0%
Net โ2,340.0%
FCF โ
Q1 '26
Gross โ
Operating โ3,566.6%
Net โ3,394.1%
FCF โ
Q2 '26
Gross โ
Operating โ4,412.8%
Net โ4,291.1%
FCF โ
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income โ$16.2M
FY21
Net income โ$30.2M
FY22
Net income โ$28.0M
FY23
Net income โ$22.5M
FY24
Net income โ$10.8M
FY25
Net income โ$12.5M
Q3 '23
Net income โ$5.1M
Q4 '23
Net income โ$5.5M
Q1 '24
Net income โ$3.8M
Q2 '24
Net income โ$2.7M
Q3 '24
Net income โ$1.8M
Q4 '24
Net income โ$2.5M
Q1 '25
Net income โ$2.8M
Q2 '25
Net income โ$4.2M
Q3 '25
Net income โ$2.9M
Q4 '25
Net income โ$2.6M
Q1 '26
Net income โ$2.7M
Q2 '26
Net income โ$3.1M
FY20
Diluted EPS โ$0.67
FY21
Diluted EPS โ$1.16
FY22
Diluted EPS โ$0.83
FY23
Diluted EPS โ$6.54
FY24
Diluted EPS โ$2.86
FY25
Diluted EPS โ$2.93
Q3 '23
Diluted EPS โ$0.15
Q4 '23
Diluted EPS โ$6.04
Q1 '24
Diluted EPS โ$1.10
Q2 '24
Diluted EPS โ$0.73
Q3 '24
Diluted EPS โ$0.46
Q4 '24
Diluted EPS โ$0.57
Q1 '25
Diluted EPS โ$0.70
Q2 '25
Diluted EPS โ$1.06
Q3 '25
Diluted EPS โ$0.65
Q4 '25
Diluted EPS โ$0.52
Q1 '26
Diluted EPS โ$0.57
Q2 '26
Diluted EPS โ$0.62
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital โ
Return on equity โ
Return on assets โ356.5%
FY21
Return on capital โ
Return on equity โ
Return on assets โ134.9%
FY22
Return on capital โ
Return on equity โ239.5%
Return on assets โ90.7%
FY23
Return on capital โ
Return on equity โ
Return on assets โ172.6%
FY24
Return on capital โ
Return on equity โ
Return on assets โ210.0%
FY25
Return on capital โ
Return on equity โ
Return on assets โ125.2%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ in fiscal 2025, โ of revenue. Cash from operations minus capital spending.
FY20
Free cash flow โ$8.4M
FY21
Free cash flow โ$13.1M
FY22
Free cash flow โ$19.1M
FY23
Free cash flow โ$15.8M
FY24
Free cash flow โ
FY25
Free cash flow โ
Q3 '23
Free cash flow โ$4.2M
Q4 '23
Free cash flow โ$3.0M
Q1 '24
Free cash flow โ
Q2 '24
Free cash flow โ
Q3 '24
Free cash flow โ
Q4 '24
Free cash flow โ
Q1 '25
Free cash flow โ
Q2 '25
Free cash flow โ
Q3 '25
Free cash flow โ
Q4 '25
Free cash flow โ
Q1 '26
Free cash flow โ
Q2 '26
Free cash flow โ
FY20
Cash from operations โ$8.3M
Capital spending $0.1M
FY21
Cash from operations โ$12.8M
Capital spending $0.2M
FY22
Cash from operations โ$18.9M
Capital spending $0.3M
FY23
Cash from operations โ$15.8M
Capital spending $0.1M
FY24
Cash from operations โ$9.6M
Capital spending โ
FY25
Cash from operations โ$5.9M
Capital spending โ
Cash from operations
Capital spending
Q3 '23
Cash from operations โ$4.2M
Capital spending $0.0M
Q4 '23
Cash from operations โ$3.0M
Capital spending $0.0M
Q1 '24
Cash from operations โ$2.5M
Capital spending โ
Q2 '24
Cash from operations โ$2.3M
Capital spending โ
Q3 '24
Cash from operations โ$3.0M
Capital spending โ
Q4 '24
Cash from operations โ$1.7M
Capital spending โ
Q1 '25
Cash from operations โ$1.3M
Capital spending โ
Q2 '25
Cash from operations โ$1.6M
Capital spending โ
Q3 '25
Cash from operations โ$0.9M
Capital spending โ
Q4 '25
Cash from operations โ$2.1M
Capital spending โ
Q1 '26
Cash from operations โ$1.7M
Capital spending โ
Q2 '26
Cash from operations โ$2.1M
Capital spending โ
Cash from operations
Capital spending
Dividends, buybacks and share count
MiNK Therapeutics, Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 13.2%.
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY20
Diluted shares 0.02B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.03B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.00B
Balance sheet
Cash, debt and the ratios that show how comfortably MiNK Therapeutics, Inc. can carry it.
FY20
Cash $2.7M
Debt โ
FY21
Cash $38.9M
Debt โ
FY22
Cash $19.6M
Debt โ
FY23
Cash $3.4M
Debt โ
FY24
Cash $4.6M
Debt โ
FY25
Cash $13.4M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $38.9M | $19.6M | $3.4M | $4.6M | $13.4M |
| Interest coverage | โ11.7x | โ | โ | โ | โ |
| Current ratio | 2.4x | 1.6x | 0.3x | 0.7x | 1.1x |
| Quick ratio | 2.4x | 1.6x | 0.3x | 0.7x | 1.1x |
| Total assets | $40.2M | $21.5M | $4.6M | $5.7M | $14.2M |
| Total liabilities | $16.5M | $21.9M | $22.6M | $25.3M | $28.5M |
| Shareholders' equity | $23.8M | โ$0.4M | โ$18.1M | โ$19.6M | โ$14.2M |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ 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. 8โ9 is strong, 0โ2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ |
| F-score | โ / 3 | โ / 6 | 2 / 7 | 3 / 7 | 3 / 7 | 3 / 7 |
| Accruals ratio | โ173.5% | โ77.6% | โ29.6% | โ51.5% | โ23.9% | โ65.8% |
| Altman Z'' | โ74.88 | โ6.16 | โ24.19 | โ141.45 | โ98.50 | โ41.99 |
6 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | โ | โ$2.4M | $0.3M | $0.5M | $0.2M | $0.2M |
| Net interest income | โ | โ$2.4M | $0.3M | $0.5M | $0.2M | $0.2M |
| Research and development | $9.5M | $14.0M | $23.1M | $15.5M | $6.3M | $5.8M |
| Operating income | โ$14.6M | โ$28.4M | โ$30.9M | โ$22.9M | โ$11.3M | โ$12.6M |
| Interest expense | $2.4M | $2.4M | โ | โ$0.0M | โ$0.1M | โ$0.1M |
| Net income | โ$16.2M | โ$30.2M | โ$28.0M | โ$22.5M | โ$10.8M | โ$12.5M |
| Diluted EPS | โ$0.67 | โ$1.16 | โ$0.83 | โ$6.54 | โ$2.86 | โ$2.93 |
| Diluted shares | 0.02B | 0.03B | 0.03B | 0.00B | 0.00B | 0.00B |
| Cash flow | ||||||
| Cash from operations | โ$8.3M | โ$12.8M | โ$18.9M | โ$15.8M | โ$9.6M | โ$5.9M |
| Capital expenditure | $0.1M | $0.2M | $0.3M | $0.1M | โ | โ |
| Free cash flow | โ$8.4M | โ$13.1M | โ$19.1M | โ$15.8M | โ | โ |
| Depreciation and amortization | $0.1M | $0.1M | $0.1M | $0.2M | $0.2M | $0.2M |
| Stock-based compensation | $0.1M | $1.7M | $3.0M | $3.9M | $1.8M | $2.7M |
| Balance sheet | ||||||
| Cash and short-term investments | $2.7M | $38.9M | $19.6M | $3.4M | $4.6M | $13.4M |
| Current assets | $4.1M | $39.6M | $20.4M | $3.6M | $5.0M | $13.8M |
| Current liabilities | $14.2M | $16.5M | $12.7M | $11.4M | $7.0M | $13.0M |
| Property and equipment, net | $0.5M | $0.6M | $1.1M | $1.0M | $0.7M | $0.4M |
| Total assets | $4.6M | $40.2M | $21.5M | $4.6M | $5.7M | $14.2M |
| Total liabilities | $58.4M | $16.5M | $21.9M | $22.6M | $25.3M | $28.5M |
| Shareholders' equity | โ$53.9M | $23.8M | โ$0.4M | โ$18.1M | โ$19.6M | โ$14.2M |
| Margins | ||||||
| Operating margin | โ | 1,166.3% | โ12,218.4% | โ4,947.4% | โ6,540.2% | โ7,015.6% |
| EBITDA margin | โ | 1,163.0% | โ12,170.4% | โ4,903.2% | โ6,415.4% | โ6,914.8% |
| Net margin | โ | 1,242.5% | โ11,050.6% | โ4,847.4% | โ6,248.4% | โ6,933.6% |
| FCF margin | โ | 537.8% | โ7,547.1% | โ3,418.1% | โ | โ |
| Net interest share of revenue | โ | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Returns | ||||||
| Return on capital employed | 151.4% | โ119.3% | โ352.2% | 334.6% | 911.2% | โ1,047.1% |
| Return on equity | โ | โ | โ239.5% | โ | โ | โ |
| Return on assets | โ356.5% | โ134.9% | โ90.7% | โ172.6% | โ210.0% | โ125.2% |
| Return on tangible equity | โ | โ127.1% | โ | โ | โ | โ |
| Growth | ||||||
| Revenue growth | โ | โ | โ | 82.9% | โ62.7% | 4.4% |
| Share count change | โ | 8.0% | 29.4% | โ89.8% | 9.8% | 13.2% |
| Financial health | ||||||
| Interest coverage | โ6.0x | โ11.7x | โ | โ | โ | โ |
| Current ratio | 0.3x | 2.4x | 1.6x | 0.3x | 0.7x | 1.1x |
| Quick ratio | 0.3x | 2.4x | 1.6x | 0.3x | 0.7x | 1.1x |
| Capital allocation | ||||||
| Capex / revenue | โ | โ10.2% | 98.7% | 15.9% | โ | โ |
| Stock comp / revenue | โ | โ71.8% | 1,194.9% | 833.2% | 1,048.8% | 1,483.9% |
| Quality scores | ||||||
| Piotroski F-score | โ | โ | 2.0 | 3.0 | 3.0 | 3.0 |
| Altman Z'' | โ74.9 | โ6.2 | โ24.2 | โ141.4 | โ98.5 | โ42.0 |
| Accruals ratio | โ173.5% | โ77.6% | โ29.6% | โ51.5% | โ23.9% | โ65.8% |
Source: SEC EDGAR XBRL filings (CIK 0001840229). 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.