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Molecular Partners Ag

MOLN Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2019โ€“FY2025

Revenue Total sales reported in the income statement.
$0.0M
100.0% vs prior year
Operating margin Operating income as a share of revenue.
โ€”
Net income Profit after all expenses, interest and tax.
โˆ’$74.2M
Free cash flow Cash from operations minus capital spending.
โˆ’$62.5M
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.
โ€”
P/E Last close divided by diluted earnings per share over the last four quarters.
โ€”

What Molecular Partners Ag does

No business description yet.

Legal name
MOLECULAR PARTNERS AG
Fiscal year ends
December 31, 2025
Latest annual report
20-F ยท Mar 12, 2026
Accession ยท CIK
0001745114-26-000009
0001745114

Revenue and margins

Molecular Partners Ag had $0.0M of revenue in fiscal 2025, down 100.0% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
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’$62.5M in fiscal 2025, โ€” of revenue. Cash from operations minus capital spending.

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

Dividends, buybacks and share count

Molecular Partners Ag returned โ€” to shareholders in fiscal 2025. The diluted share count rose 9.5%.

Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Balance sheet

Cash, debt and the ratios that show how comfortably Molecular Partners Ag can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $78.7M$95.3M$80.3M$70.5M$104M
Interest coverage โˆ’114.1x188.4xโˆ’11.9xโˆ’1,609.2xโˆ’11.5x
Current ratio 3.5x14.8x13.4x14.3x8.8x
Quick ratio 3.5x14.8x13.4x14.3x8.8x
Total assets $189M$284M$237M$175M$129M
Total liabilities $71.7M$29.3M$26.2M$18.6M$27.5M
Shareholders' equity $118M$255M$211M$156M$101M
Net debt (โˆ’ = net cash) โ€”โ€”โ€”โ€”โ€”

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€” โ€” โ€” โ€” โ€”
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€” โœ“ โœ“ โœ• โœ• โœ•
F-score โ€” / 3โ€” / 42 / 76 / 72 / 71 / 71 / 7
Accruals ratio โ€”โˆ’16.9%14.8%โˆ’0.3%โˆ’1.3%2.9%โˆ’8.2%
Altman Z'' โ€”0.25โˆ’1.0216.369.267.01โˆ’4.21

7 years of figures

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

Download CSV
Fiscal yearFY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $20.5M $10.0M $10.7M $199M $7.8M $5.6M $0.0M
Research and development $43.8M $59.7M $61.0M $53.1M $54.3M $55.2M $48.4M
Operating income โˆ’$36.9M โˆ’$62.1M โˆ’$69.4M $122M โˆ’$68.0M โˆ’$69.5M โˆ’$69.9M
Interest expense $1.2M $5.1M $0.6M $0.6M $5.7M $0.0M $6.1M
Pretax income โˆ’$36.5M โˆ’$66.9M โˆ’$69.8M $123M โˆ’$69.0M โˆ’$61.4M โˆ’$74.2M
Income tax $0.0M โˆ’$0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Net income โˆ’$36.5M โˆ’$66.9M โˆ’$69.8M $123M โˆ’$69.0M โˆ’$61.4M โˆ’$74.2M
Diluted EPS โˆ’$1.70 โˆ’$2.67 โˆ’$2.25 $3.71 โˆ’$2.10 โˆ’$1.81 โˆ’$1.99
Diluted shares 0.02B 0.03B 0.03B 0.03B 0.03B 0.03B 0.04B
Cash flow
Cash from operations โˆ’$1.2M โˆ’$30.9M โˆ’$99.5M $124M โˆ’$65.7M โˆ’$67.3M โˆ’$61.7M
Capital expenditure $1.0M $1.5M $1.0M $1.2M $0.6M $0.8M $0.9M
Free cash flow โˆ’$2.2M โˆ’$32.4M โˆ’$101M $123M โˆ’$66.3M โˆ’$68.1M โˆ’$62.5M
Depreciation and amortization $2.5M $3.1M $2.8M $2.5M $2.7M $2.7M $2.6M
Stock-based compensation $2.5M $3.1M $4.5M $5.3M $5.8M $4.7M $5.3M
Share buybacks โ€” $0.0M $0.0M $0.7M $0.0M $0.0M โ€”
Dividends and buybacks โ€” $0.0M $0.0M $0.7M $0.0M $0.0M โ€”
Balance sheet
Cash and short-term investments $78.4M $152M $78.7M $95.3M $80.3M $70.5M $104M
Current assets โ€” $202M $180M $276M $230M $170M $122M
Current liabilities โ€” $65.5M $51.4M $18.7M $17.2M $11.9M $13.9M
Property and equipment, net โ€” $10.7M $8.9M $7.8M โ€” โ€” โ€”
Intangible assets โ€” $0.4M $0.4M $0.3M $0.3M $0.1M $0.0M
Total assets โ€” $213M $189M $284M $237M $175M $129M
Total liabilities โ€” $91.2M $71.7M $29.3M $26.2M $18.6M $27.5M
Shareholders' equity $56.0M $122M $118M $255M $211M $156M $101M
Margins
Operating margin โˆ’179.9% โˆ’624.2% โˆ’650.2% 61.5% โˆ’868.3% โˆ’1,231.7% โ€”
EBITDA margin โˆ’167.7% โˆ’593.3% โˆ’623.9% 62.8% โˆ’833.9% โˆ’1,184.1% โ€”
Net margin โˆ’178.0% โˆ’671.7% โˆ’653.9% 62.2% โˆ’880.7% โˆ’1,087.4% โ€”
FCF margin โˆ’10.9% โˆ’325.7% โˆ’942.0% 61.9% โˆ’846.5% โˆ’1,206.3% โ€”
Returns
Return on capital employed โ€” โˆ’42.1% โˆ’50.3% 46.0% โˆ’31.0% โˆ’42.6% โˆ’60.9%
Return on equity โˆ’65.2% โˆ’75.2% โˆ’58.3% 66.3% โˆ’29.7% โˆ’33.5% โˆ’57.6%
Return on assets โ€” โˆ’31.4% โˆ’34.7% 52.1% โˆ’26.5% โˆ’29.8% โˆ’48.8%
Return on tangible equity โˆ’65.2% โˆ’55.1% โˆ’59.5% 48.5% โˆ’32.8% โˆ’39.3% โˆ’73.2%
Growth
Revenue growth โ€” โˆ’51.5% 7.2% 1,760.4% โˆ’96.1% โˆ’28.0% โˆ’100.0%
Net income growth โ€” โ€” โ€” โ€” โˆ’155.9% โ€” โ€”
EPS growth โ€” โ€” โ€” โ€” โˆ’156.7% โ€” โ€”
FCF growth โ€” โ€” โ€” โ€” โˆ’153.9% โ€” โ€”
Share count change โ€” 16.8% 24.0% 7.3% โˆ’1.5% 3.9% 9.5%
Financial health
Interest coverage โˆ’30.3x โˆ’12.1x โˆ’114.1x 188.4x โˆ’11.9x โˆ’1,609.2x โˆ’11.5x
Current ratio โ€” 3.1x 3.5x 14.8x 13.4x 14.3x 8.8x
Quick ratio โ€” 3.1x 3.5x 14.8x 13.4x 14.3x 8.8x
Capital allocation
Capex / revenue 5.1% 15.5% 9.6% 0.6% 8.2% 14.2% โ€”
Stock comp / revenue 12.0% 31.4% 41.9% 2.7% 74.0% 82.6% โ€”
Payouts / FCF โ€” โ€” โ€” 0.5% โ€” โ€” โ€”
Quality scores
Piotroski F-score โ€” โ€” 2.0 6.0 2.0 1.0 1.0
Altman Z'' โ€” 0.3 โˆ’1.0 16.4 9.3 7.0 โˆ’4.2
Accruals ratio โ€” โˆ’16.9% 14.8% โˆ’0.3% โˆ’1.3% 2.9% โˆ’8.2%

Source: SEC EDGAR XBRL filings (CIK 0001745114). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CHF 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. The ADS ratio could not be read from the filing, so market cap and valuation are not shown. For information only โ€” not investment advice. Check the original filings before relying on any figure.

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