Scholar Rock Holding Corp
SRRK Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2017–FY2025
Revenue
Total sales reported in the income statement.
$0.0M
vs prior year
Operating margin
Operating income as a share of revenue.
—
Net income
Profit after all expenses, interest and tax.
−$378M
Free cash flow
Cash from operations minus capital spending.
−$301M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$3.31 EPS (TTM)
What Scholar Rock Holding Corp does
No business description yet.
- Legal name
- Scholar Rock Holding Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 3, 2026
- Accession · CIK
- 0001104659-26-022551
0001727196
Revenue and margins
Scholar Rock Holding Corp had $0.0M of revenue in fiscal 2025.
FY17
Revenue $0.0M
FY18
Revenue $0.0M
FY19
Revenue $20.5M
FY20
Revenue $15.4M
FY21
Revenue $18.8M
FY22
Revenue $33.2M
FY23
Revenue —
FY24
Revenue —
FY25
Revenue $0.0M
Q3 '23
Revenue —
Q4 '23
Revenue —
Q1 '24
Revenue —
Q2 '24
Revenue —
Q3 '24
Revenue —
Q4 '24
Revenue —
Q1 '25
Revenue —
Q2 '25
Revenue —
Q3 '25
Revenue $0.0M
Q4 '25
Revenue $0.0M
Q1 '26
Revenue $0.0M
Q2 '26
Revenue $0.0M
FY17
Gross —
Operating −56,884.1%
Net −56,806.8%
FCF −50,222.7%
FY18
Gross —
Operating —
Net —
FCF —
FY19
Gross —
Operating −266.2%
Net −248.9%
FCF −323.2%
FY20
Gross —
Operating −564.0%
Net −561.5%
FCF −417.8%
FY21
Gross —
Operating −690.5%
Net −700.5%
FCF −701.7%
FY22
Gross —
Operating −404.8%
Net −405.2%
FCF −403.0%
FY23
Gross —
Operating —
Net —
FCF —
FY24
Gross —
Operating —
Net —
FCF —
FY25
Gross —
Operating —
Net —
FCF —
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY17
Net income −$25.0M
FY18
Net income −$49.3M
FY19
Net income −$51.0M
FY20
Net income −$86.5M
FY21
Net income −$132M
FY22
Net income −$135M
FY23
Net income −$166M
FY24
Net income −$246M
FY25
Net income −$378M
Q3 '23
Net income −$42.4M
Q4 '23
Net income −$46.1M
Q1 '24
Net income −$56.9M
Q2 '24
Net income −$58.5M
Q3 '24
Net income −$64.5M
Q4 '24
Net income −$66.5M
Q1 '25
Net income −$74.7M
Q2 '25
Net income −$110M
Q3 '25
Net income −$102M
Q4 '25
Net income −$91.0M
Q1 '26
Net income −$106M
Q2 '26
Net income −$110M
FY17
Diluted EPS −$15.30
FY18
Diluted EPS −$3.15
FY19
Diluted EPS −$1.85
FY20
Diluted EPS −$2.81
FY21
Diluted EPS −$3.59
FY22
Diluted EPS −$2.26
FY23
Diluted EPS −$1.99
FY24
Diluted EPS −$2.47
FY25
Diluted EPS −$3.29
Q3 '23
Diluted EPS −$0.53
Q4 '23
Diluted EPS −$0.50
Q1 '24
Diluted EPS −$0.59
Q2 '24
Diluted EPS −$0.60
Q3 '24
Diluted EPS −$0.66
Q4 '24
Diluted EPS −$0.62
Q1 '25
Diluted EPS −$0.67
Q2 '25
Diluted EPS −$0.98
Q3 '25
Diluted EPS −$0.90
Q4 '25
Diluted EPS −$0.74
Q1 '26
Diluted EPS −$0.83
Q2 '26
Diluted EPS −$0.84
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY17
Return on capital —
Return on equity —
Return on assets −40.6%
FY18
Return on capital —
Return on equity −185.8%
Return on assets −40.6%
FY19
Return on capital —
Return on equity −46.5%
Return on assets −27.0%
FY20
Return on capital —
Return on equity −46.3%
Return on assets −29.6%
FY21
Return on capital —
Return on equity −60.9%
Return on assets −38.1%
FY22
Return on capital —
Return on equity −62.2%
Return on assets −40.6%
FY23
Return on capital —
Return on equity −68.3%
Return on assets −49.5%
FY24
Return on capital —
Return on equity −82.9%
Return on assets −62.7%
FY25
Return on capital —
Return on equity −123.1%
Return on assets −86.0%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$301M in fiscal 2025, — of revenue. Cash from operations minus capital spending.
FY17
Free cash flow −$22.1M
FY18
Free cash flow $23.1M
FY19
Free cash flow −$66.2M
FY20
Free cash flow −$64.4M
FY21
Free cash flow −$132M
FY22
Free cash flow −$134M
FY23
Free cash flow −$145M
FY24
Free cash flow −$201M
FY25
Free cash flow −$301M
Q3 '23
Free cash flow −$32.3M
Q4 '23
Free cash flow −$37.3M
Q1 '24
Free cash flow −$49.8M
Q2 '24
Free cash flow −$49.2M
Q3 '24
Free cash flow −$52.5M
Q4 '24
Free cash flow −$49.5M
Q1 '25
Free cash flow −$78.9M
Q2 '25
Free cash flow −$77.2M
Q3 '25
Free cash flow −$69.0M
Q4 '25
Free cash flow −$75.5M
Q1 '26
Free cash flow −$82.2M
Q2 '26
Free cash flow −$70.3M
FY17
Cash from operations −$21.7M
Capital spending $0.4M
FY18
Cash from operations $24.6M
Capital spending $1.5M
FY19
Cash from operations −$63.1M
Capital spending $3.1M
FY20
Cash from operations −$60.3M
Capital spending $4.1M
FY21
Cash from operations −$127M
Capital spending $5.2M
FY22
Cash from operations −$133M
Capital spending $1.1M
FY23
Cash from operations −$145M
Capital spending $0.1M
FY24
Cash from operations −$201M
Capital spending $0.1M
FY25
Cash from operations −$300M
Capital spending $0.6M
Cash from operations
Capital spending
Q3 '23
Cash from operations −$32.3M
Capital spending $0.0M
Q4 '23
Cash from operations −$37.3M
Capital spending $0.0M
Q1 '24
Cash from operations −$49.8M
Capital spending $0.0M
Q2 '24
Cash from operations −$49.2M
Capital spending $0.0M
Q3 '24
Cash from operations −$52.5M
Capital spending $0.0M
Q4 '24
Cash from operations −$49.5M
Capital spending $0.0M
Q1 '25
Cash from operations −$78.7M
Capital spending $0.3M
Q2 '25
Cash from operations −$76.9M
Capital spending $0.2M
Q3 '25
Cash from operations −$68.9M
Capital spending $0.1M
Q4 '25
Cash from operations −$75.5M
Capital spending $0.0M
Q1 '26
Cash from operations −$82.1M
Capital spending $0.1M
Q2 '26
Cash from operations −$70.3M
Capital spending $0.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Scholar Rock Holding Corp returned — to shareholders in fiscal 2025. The diluted share count rose 14.9%.
FY17
Dividends —
Buybacks —
FY18
Dividends —
Buybacks —
FY19
Dividends —
Buybacks —
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY17
Diluted shares 0.00B
FY18
Diluted shares 0.02B
FY19
Diluted shares 0.03B
FY20
Diluted shares 0.03B
FY21
Diluted shares 0.04B
FY22
Diluted shares 0.06B
FY23
Diluted shares 0.08B
FY24
Diluted shares 0.10B
FY25
Diluted shares 0.11B
Balance sheet
Cash, debt and the ratios that show how comfortably Scholar Rock Holding Corp can carry it.
FY17
Cash $58.0M
Debt $1.0M
FY18
Cash $176M
Debt $0.5M
FY19
Cash $157M
Debt —
FY20
Cash $341M
Debt $26.0M
FY21
Cash $253M
Debt $53.6M
FY22
Cash $315M
Debt $51.0M
FY23
Cash $280M
Debt $52.3M
FY24
Cash $437M
Debt $50.1M
FY25
Cash $368M
Debt $99.7M
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $253M | $315M | $280M | $437M | $368M |
| Debt incl. finance leases | $53.6M | $51.0M | $52.3M | $50.1M | $99.7M |
| Debt / equity | 0.3x | 0.2x | 0.2x | 0.1x | 0.4x |
| Interest coverage | −61.9x | −28.6x | −26.4x | −36.9x | −55.8x |
| Current ratio | 4.1x | 9.0x | 8.8x | 9.6x | 6.9x |
| Quick ratio | 4.1x | 9.0x | 8.8x | 9.6x | 6.9x |
| Total assets | $304M | $358M | $311M | $475M | $404M |
| Total liabilities | $132M | $97.9M | $85.8M | $106M | $159M |
| Shareholders' equity | $172M | $260M | $225M | $369M | $245M |
| Net debt (− = net cash) | −$199M | −$264M | −$228M | −$387M | −$268M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' 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
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✓ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Return on assets rose | — | ✓ | ✓ | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ |
| Cash from operations exceeds net income | ✓ | ✓ | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | — | — | ✕ | ✓ | ✕ | ✓ | ✕ |
| Current ratio rose | — | ✕ | ✕ | ✓ | ✕ | ✓ | ✕ | ✓ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Gross margin rose | — | — | — | — | — | — | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✓ | ✕ | ✓ | ✓ | — | — | — |
| F-score | — / 3 | 4 / 8 | 2 / 7 | 3 / 7 | 2 / 8 | 5 / 8 | 1 / 7 | 4 / 7 | 1 / 7 |
| Accruals ratio | −5.3% | −60.8% | 6.4% | −9.0% | −1.4% | −0.5% | −6.1% | −11.5% | −17.7% |
| Altman Z'' | −9.49 | 3.01 | 2.02 | 3.69 | −1.20 | 0.96 | −2.65 | −0.68 | −9.91 |
9 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $0.0M | $0.0M | $20.5M | $15.4M | $18.8M | $33.2M | — | — | $0.0M |
| Net interest income | $0.0M | $1.4M | — | — | — | — | — | — | — |
| Research and development | $19.9M | $36.3M | $54.2M | $74.1M | $108M | $124M | $122M | $185M | $208M |
| Operating income | −$25.0M | −$50.7M | −$54.5M | −$86.9M | −$130M | −$134M | −$171M | −$252M | −$385M |
| Interest expense | — | — | $0.0M | $0.4M | $2.1M | $4.7M | $6.5M | $6.8M | $6.9M |
| Pretax income | — | — | — | — | — | — | — | −$246M | −$378M |
| Net income | −$25.0M | −$49.3M | −$51.0M | −$86.5M | −$132M | −$135M | −$166M | −$246M | −$378M |
| Diluted EPS | −$15.30 | −$3.15 | −$1.85 | −$2.81 | −$3.59 | −$2.26 | −$1.99 | −$2.47 | −$3.29 |
| Diluted shares | 0.00B | 0.02B | 0.03B | 0.03B | 0.04B | 0.06B | 0.08B | 0.10B | 0.11B |
| Cash flow | |||||||||
| Cash from operations | −$21.7M | $24.6M | −$63.1M | −$60.3M | −$127M | −$133M | −$145M | −$201M | −$300M |
| Capital expenditure | $0.4M | $1.5M | $3.1M | $4.1M | $5.2M | $1.1M | $0.1M | $0.1M | $0.6M |
| Free cash flow | −$22.1M | $23.1M | −$66.2M | −$64.4M | −$132M | −$134M | −$145M | −$201M | −$301M |
| Depreciation and amortization | $0.7M | $0.8M | $1.3M | $1.5M | $2.6M | $3.0M | $2.8M | $1.9M | $1.7M |
| Stock-based compensation | $1.5M | $5.2M | $8.0M | $11.2M | $23.1M | $27.7M | $27.1M | $36.6M | $75.6M |
| Balance sheet | |||||||||
| Cash and short-term investments | $58.0M | $176M | $157M | $341M | $253M | $315M | $280M | $437M | $368M |
| Total debt | $1.0M | $0.5M | — | $26.0M | $53.6M | $51.0M | $52.3M | $50.1M | $99.7M |
| Current assets | $59.2M | $178M | $185M | $344M | $265M | $328M | $288M | $451M | $385M |
| Current liabilities | $5.0M | $31.1M | $32.8M | $42.6M | $64.3M | $36.4M | $32.7M | $46.9M | $55.4M |
| Property and equipment, net | $2.2M | $3.2M | $4.2M | $8.1M | $9.6M | $7.4M | $4.6M | $2.8M | $1.7M |
| Total assets | $61.6M | $181M | $196M | $388M | $304M | $358M | $311M | $475M | $404M |
| Total liabilities | $5.9M | $74.7M | $83.5M | $128M | $132M | $97.9M | $85.8M | $106M | $159M |
| Preferred stock | — | — | — | — | — | — | — | — | $0.0M |
| Shareholders' equity | −$53.5M | $107M | $113M | $261M | $172M | $260M | $225M | $369M | $245M |
| Margins | |||||||||
| Operating margin | −56,884.1% | — | −266.2% | −564.0% | −690.5% | −404.8% | — | — | — |
| EBITDA margin | −55,363.6% | — | −259.8% | −554.4% | −676.5% | −395.8% | — | — | — |
| Net margin | −56,806.8% | — | −248.9% | −561.5% | −700.5% | −405.2% | — | — | — |
| FCF margin | −50,222.7% | — | −323.2% | −417.8% | −701.7% | −403.0% | — | — | — |
| Net interest share of revenue | 100.0% | — | — | — | — | — | — | — | — |
| Returns | |||||||||
| Return on capital employed | −44.2% | −33.7% | −33.3% | −25.1% | −54.1% | −41.8% | −61.6% | −58.9% | −110.3% |
| Return on equity | — | −185.8% | −46.5% | −46.3% | −60.9% | −62.2% | −68.3% | −82.9% | −123.1% |
| Return on assets | −40.6% | −40.6% | −27.0% | −29.6% | −38.1% | −40.6% | −49.5% | −62.7% | −86.0% |
| Return on tangible equity | — | −46.3% | −45.2% | −33.2% | −76.6% | −51.7% | −73.6% | −66.8% | −154.0% |
| Growth | |||||||||
| Revenue growth | — | −100.0% | — | −24.8% | 22.2% | 76.4% | — | — | — |
| FCF growth | — | — | −387.0% | — | — | — | — | — | — |
| Share count change | — | 858.0% | 75.9% | 11.6% | 19.4% | 62.4% | 39.8% | 19.8% | 14.9% |
| Financial health | |||||||||
| Debt / equity | — | 0.0x | — | 0.1x | 0.3x | 0.2x | 0.2x | 0.1x | 0.4x |
| Interest coverage | — | — | −2,020.1x | −217.2x | −61.9x | −28.6x | −26.4x | −36.9x | −55.8x |
| Current ratio | 11.8x | 5.7x | 5.6x | 8.1x | 4.1x | 9.0x | 8.8x | 9.6x | 6.9x |
| Quick ratio | 11.8x | 5.7x | 5.6x | 8.1x | 4.1x | 9.0x | 8.8x | 9.6x | 6.9x |
| Capital allocation | |||||||||
| Capex / revenue | 820.5% | — | 15.2% | 26.5% | 27.9% | 3.2% | — | — | — |
| Stock comp / revenue | 3,368.2% | — | 38.9% | 72.6% | 123.0% | 83.5% | — | — | — |
| Quality scores | |||||||||
| Piotroski F-score | — | 4.0 | 2.0 | 3.0 | 2.0 | 5.0 | 1.0 | 4.0 | 1.0 |
| Altman Z'' | −9.5 | 3.0 | 2.0 | 3.7 | −1.2 | 1.0 | −2.6 | −0.7 | −9.9 |
| Accruals ratio | −5.3% | −60.8% | 6.4% | −9.0% | −1.4% | −0.5% | −6.1% | −11.5% | −17.7% |
Source: SEC EDGAR XBRL filings (CIK 0001727196). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.