FBIO Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Fortress Biotech, Inc. had $63.3M of revenue in fiscal 2025, up 9.7% on the year before. Over five years, revenue changed +6.8% a year on average.
Last close Β· Oct 23, 2026
$1.93
3.0%Hi! I read Fortress Biotech, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+9.7%
Yes. Sales grew 9.7% last year.
Does it make a profit?
10.8%
Yes. It keeps 10.8% of every sale as profit.
How healthy are the accounts?
5 / 9
Mixed. It passes 5 of 9 health tests.
How is the share priced?
0.7x
One share costs 0.7 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Fortress Biotech, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 13, 2026
Friday Β· in 19 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 13, 2026 | Q2 '26 | After the market closes | 8-K β |
| May 14, 2026 | Q1 '26 | After the market closes | 8-K β |
| Mar 31, 2026 | Q4 '25 | After the market closes | 8-K β |
| Nov 14, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 14, 2025 | Q2 '25 | After the market closes | 8-K β |
| May 15, 2025 | Q1 '25 | After the market closes | 8-K β |
| Mar 31, 2025 | Q4 '24 | After the market closes | 8-K β |
| Nov 14, 2024 | Q3 '24 | After the market closes | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Fortress Biotech, Inc. had $63.3M of revenue in fiscal 2025, up 9.7% on the year before. Over five years, revenue changed +6.8% a year on average. Its operating margin was β111.0%, up 80.4Β pts: of every 100 in sales, about β111 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Fortress Biotech, Inc. made $6.8M of net profit in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Fortress Biotech, Inc. returned $0.7M to shareholders in fiscal 2025. The diluted share count rose 34.2%.
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Fortress Biotech, Inc. has $24.9M more cash than debt.
Cash, debt and the ratios that show how comfortably Fortress Biotech, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $306M | $178M | $80.9M | $57.3M | $79.4M |
| Debt incl. finance leases | $42.9M | $91.7M | $60.9M | $58.0M | $54.5M |
| Debt / equity | 0.4x | 2.2x | 2.7x | 2.5x | 1.1x |
| Interest coverage | β12.3x | β16.3x | β9.3x | β8.2x | β6.9x |
| Current ratio | 3.4x | 1.8x | 1.4x | 1.3x | 2.5x |
| Quick ratio | 3.3x | 1.7x | 1.3x | 1.1x | 2.3x |
| Total assets | $397M | $294M | $168M | $144M | $186M |
| Total liabilities | $171M | $244M | $166M | $146M | $123M |
| Shareholders' equity | $109M | $41.7M | $22.5M | $22.7M | $49.9M |
| Net debt (β = net cash) | β$263M | β$86.5M | β$20.1M | $0.7M | β$24.9M |
KIRA Β· Its return on capital was β222.0%: every 100 invested in the business earned about β222 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Fortress Biotech, Inc. passes 5 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 9 | 1 / 9 | 3 / 9 | 3 / 9 | 2 / 9 | 3 / 9 | 2 / 9 | 1 / 9 | 5 / 9 |
| Accruals ratio | β5.4% | 6.9% | 7.6% | 29.9% | 13.3% | 14.2% | 26.9% | 29.3% | 21.9% | 44.0% |
| Altman Z'' | β4.77 | β3.17 | β12.28 | β6.19 | β1.63 | β2.97 | β9.20 | β17.83 | β20.86 | β12.40 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $16.5M | $17.2M | $26.9M | $36.6M | $45.6M | $68.8M | $75.7M | $84.5M | $57.7M | $63.3M |
| Net interest income | β | $0.0M | $0.0M | $0.0M | β | β | β | β | β | β |
| Gross profit | $15.7M | $13.6M | $20.8M | $26.1M | $31.0M | $36.7M | $45.0M | $61.6M | $36.8M | $42.3M |
| Research and development | $35.1M | $48.3M | $87.4M | $81.3M | $64.1M | $129M | $135M | $106M | $56.6M | $11.9M |
| Operating income | β$65.7M | β$89.8M | β$120M | β$111M | β$94.3M | β$189M | β$204M | β$142M | β$110M | β$70.2M |
| Interest expense | $3.7M | $5.9M | β | $11.8M | $15.3M | $15.3M | $12.5M | $15.3M | $13.5M | $10.1M |
| Pretax income | β$71.3M | β$97.5M | β$131M | β$102M | β$103M | β$164M | β$213M | β$154M | β$121M | β$33.5M |
| Income tax | $0.0M | $1.5M | $0.0M | $0.0M | $0.5M | $0.5M | $0.4M | $0.5M | $0.3M | β$0.6M |
| Net income | β$55.1M | β$66.9M | β$84.1M | β$40.0M | β$46.5M | β$64.7M | β$86.6M | β$60.6M | β$46.0M | $6.8M |
| Net income to common | β | β | β | β | β | β | β$94.6M | β$68.7M | β$55.9M | β$1.9M |
| Diluted EPS | β$1.38 | β$1.61 | β$1.94 | β$0.73 | β$0.65 | β$0.79 | β$15.97 | β$8.47 | β$2.69 | β$0.07 |
| Diluted shares | 0.04B | 0.04B | 0.04B | 0.05B | 0.07B | 0.08B | 0.01B | 0.01B | 0.02B | 0.03B |
| Cash flow | ||||||||||
| Cash from operations | β$45.8M | β$81.3M | β$98.8M | β$95.0M | β$83.7M | β$117M | β$179M | β$128M | β$80.2M | β$65.8M |
| Capital expenditure | $6.4M | $0.6M | $7.1M | $2.3M | $1.9M | $4.6M | $2.7M | $0.1M | $0.0M | β |
| Free cash flow | β$52.2M | β$82.0M | β$106M | β$97.3M | β$85.6M | β$121M | β$182M | β$128M | β$80.2M | β |
| Depreciation and amortization | $0.9M | $1.2M | $1.4M | $1.9M | $2.3M | $2.6M | $3.1M | $2.2M | $1.0M | $0.4M |
| Stock-based compensation | $12.1M | $13.4M | $15.0M | $13.2M | $13.5M | $19.5M | $23.0M | $17.0M | $32.6M | $28.7M |
| Acquisitions | $4.6M | $4.6M | β | β | β | β | β | β | β | β |
| Share buybacks | β | β | β | $0.0M | $0.1M | β | β | β | β | β |
| Dividends paid | β | β | β | $0.0M | $0.2M | $0.7M | $0.7M | $0.7M | $0.7M | $0.7M |
| Dividends and buybacks | β | β | β | $0.0M | $0.3M | $0.7M | $0.7M | $0.7M | $0.7M | $0.7M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $105M | $131M | $83.1M | $137M | $233M | $306M | $178M | $80.9M | $57.3M | $79.4M |
| Total debt | $30.2M | $67.5M | $84.4M | $84.7M | $51.7M | $42.9M | $91.7M | $60.9M | $58.0M | $54.5M |
| Current assets | $110M | $183M | $111M | $156M | $266M | $346M | $230M | $117M | $90.4M | $124M |
| Current liabilities | $56.6M | $71.4M | $55.6M | $45.6M | $51.8M | $101M | $128M | $84.9M | $71.4M | $49.7M |
| Inventory | $0.2M | $0.2M | $0.7M | $0.9M | $1.4M | $9.9M | $14.2M | $10.2M | $14.4M | $9.6M |
| Property and equipment, net | $7.4M | $7.1M | $12.0M | $12.4M | $11.9M | $15.1M | $13.0M | $6.5M | $3.3M | $2.5M |
| Goodwill | $18.6M | $18.6M | β | β | β | β | β | β | β | β |
| Intangible assets | $17.4M | $0.9M | $1.4M | $7.4M | $14.6M | $12.6M | $27.2M | $20.3M | $31.9M | $27.6M |
| Total assets | $171M | $246M | $141M | $226M | $333M | $397M | $294M | $168M | $144M | $186M |
| Total liabilities | $87.8M | $125M | $121M | $154M | $136M | $171M | $244M | $166M | $146M | $123M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $38.5M | $52.6M | $1.9M | $26.2M | $100M | $109M | $41.7M | $22.5M | $22.7M | $49.9M |
| Margins | ||||||||||
| Gross margin | 95.2% | 78.8% | 77.2% | 71.2% | 68.0% | 53.4% | 59.4% | 72.9% | 63.8% | 66.9% |
| Operating margin | β398.7% | β520.7% | β446.4% | β302.5% | β206.7% | β274.1% | β268.8% | β168.4% | β191.4% | β111.0% |
| EBITDA margin | β393.0% | β514.0% | β441.2% | β297.3% | β201.7% | β270.3% | β264.7% | β165.8% | β189.6% | β110.4% |
| Net margin | β334.3% | β387.8% | β313.0% | β109.1% | β102.0% | β94.1% | β114.3% | β71.7% | β79.8% | 10.8% |
| FCF margin | β316.6% | β475.2% | β394.1% | β265.7% | β187.7% | β176.0% | β240.4% | β151.8% | β139.0% | β |
| Net interest share of revenue | β | 0.0% | 0.0% | 0.0% | β | β | β | β | β | β |
| Returns | ||||||||||
| Return on capital | β | β | β3,013.3% | β | β | β | β | β4,547.1% | β372.1% | β222.0% |
| Return on capital employed | β57.6% | β51.5% | β140.5% | β61.3% | β33.5% | β63.8% | β122.2% | β172.3% | β151.6% | β51.7% |
| Return on equity | β143.1% | β146.9% | β309.2% | β284.7% | β73.5% | β61.9% | β115.1% | β188.7% | β203.2% | 18.8% |
| Return on assets | β32.3% | β32.1% | β43.5% | β21.8% | β16.6% | β17.7% | β25.1% | β26.3% | β29.5% | 4.1% |
| Return on tangible equity | β2,256.1% | β202.4% | β19,344.1% | β212.1% | β54.3% | β67.3% | β651.4% | β3,042.5% | β | β8.5% |
| Growth | ||||||||||
| Revenue growth | β | 4.6% | 55.9% | 36.3% | 24.5% | 50.9% | 10.1% | 11.6% | β31.8% | 9.7% |
| Share count change | β | 4.2% | 4.3% | 25.9% | 31.6% | 13.5% | β92.7% | 36.9% | 156.3% | 34.2% |
| Financial health | ||||||||||
| Debt / equity | 0.8x | 1.3x | 45.6x | 3.2x | 0.5x | 0.4x | 2.2x | 2.7x | 2.5x | 1.1x |
| Interest coverage | β17.8x | β15.3x | β | β9.4x | β6.2x | β12.3x | β16.3x | β9.3x | β8.2x | β6.9x |
| Current ratio | 1.9x | 2.6x | 2.0x | 3.4x | 5.1x | 3.4x | 1.8x | 1.4x | 1.3x | 2.5x |
| Quick ratio | 1.9x | 2.6x | 2.0x | 3.4x | 5.1x | 3.3x | 1.7x | 1.3x | 1.1x | 2.3x |
| Capital allocation | ||||||||||
| Capex / revenue | 38.7% | 3.8% | 26.3% | 6.4% | 4.2% | 6.6% | 3.6% | 0.1% | 0.0% | β |
| Stock comp / revenue | 73.6% | 77.7% | 55.8% | 36.0% | 29.5% | 28.3% | 30.3% | 20.1% | 56.6% | 45.4% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 2.0 | 1.0 | 3.0 | 3.0 | 2.0 | 3.0 | 2.0 | 1.0 | 5.0 |
| Altman Z'' | β4.8 | β3.2 | β12.3 | β6.2 | β1.6 | β3.0 | β9.2 | β17.8 | β20.9 | β12.4 |
| Accruals ratio | β5.4% | 6.9% | 7.6% | 29.9% | 13.3% | 14.2% | 26.9% | 29.3% | 21.9% | 44.0% |
Source: SEC EDGAR XBRL filings (CIK 0001429260). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
