TWST Nasdaq Biological Products, (No Diagnostic Substances) Financials FY2017βFY2025
Twist Bioscience Corp had $377M of revenue in fiscal 2025, up 20.3% on the year before. Over five years, revenue changed +33.1% a year on average.
Last close Β· Oct 23, 2026
$139.92
3.3%Hi! I read Twist Bioscience Corpβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+20.3%
Yes. Sales grew 20.3% last year.
Does it make a profit?
β20.6%
No. It lost money last year.
Does profit turn into cash?
β20.1%
No. It spent more cash than it brought in.
How healthy are the accounts?
4 / 8
Mixed. It passes 4 of 8 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
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 Twist Bioscience Corp did it, and the next one. Share prices often move a lot on those days.
Next results
November 13, 2026
Friday Β· in 18 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 3, 2026 | Q3 '26 | Before the market opens | 8-K β |
| May 4, 2026 | Q2 '26 | Before the market opens | 8-K β |
| Jan 12, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Nov 14, 2025 | Q4 '25 | Before the market opens | 8-K β |
| Aug 4, 2025 | Q3 '25 | Before the market opens | 8-K β |
| May 2, 2025 | Q2 '25 | Time not announced | 8-K β |
| Feb 3, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Nov 18, 2024 | Q4 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Twist Bioscience Corp had $377M of revenue in fiscal 2025, up 20.3% on the year before. Over five years, revenue changed +33.1% a year on average. Its operating margin was β36.2%, up 34.4Β pts: of every 100 in sales, about β36 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· Twist Bioscience Corp lost $77.7M 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?
KIRA Β· Free cash flow was β$75.6M in fiscal 2025, β20.1% of revenue.
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
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
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?
Cash, debt and the ratios that show how comfortably Twist Bioscience Corp 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 | $478M | $505M | $336M | $276M | $232M |
| Debt incl. finance leases | $1.6M | $0.0M | β | β | β |
| Debt / equity | 0.0x | 0.0x | β | β | β |
| Interest coverage | β416.1x | β2,934.7x | β43,431.8x | β7,614.9x | β |
| Current ratio | 8.7x | 6.6x | 5.8x | 4.9x | 3.6x |
| Quick ratio | 8.2x | 6.1x | 5.3x | 4.5x | 3.3x |
| Total assets | $702M | $961M | $776M | $614M | $642M |
| Total liabilities | $121M | $172M | $153M | $142M | $169M |
| Shareholders' equity | $581M | $789M | $623M | $473M | $473M |
| Net debt (β = net cash) | β$476M | β$505M | β | β | β |
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· Twist Bioscience Corp passes 4 of 8 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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 5 | 6 / 9 | 4 / 9 | 4 / 9 | 4 / 9 | 2 / 8 | 3 / 8 | 4 / 8 |
| Accruals ratio | β | β4.4% | β13.0% | 0.8% | β7.2% | β11.2% | β7.2% | β20.8% | β4.8% |
| Altman Z'' | β | β13.57 | β0.34 | 4.45 | 5.25 | 3.82 | 1.03 | β2.56 | β2.72 |
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 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|
| Income statement | |||||||||
| Revenue | $10.8M | $25.4M | $54.4M | $90.1M | $132M | $204M | $245M | $313M | $377M |
| Gross profit | β$13.3M | β$6.8M | $7.0M | $28.7M | $51.7M | $84.2M | $89.7M | $133M | $191M |
| Research and development | $19.2M | $20.3M | $35.7M | $43.0M | $69.1M | $120M | $107M | $90.9M | $80.3M |
| Operating income | β$58.5M | β$70.6M | β$109M | β$140M | β$153M | β$235M | β$217M | β$221M | β$136M |
| Interest expense | $0.9M | $1.3M | $1.3M | $0.8M | $0.4M | $0.1M | $0.0M | $0.0M | β |
| Pretax income | β$59.0M | β$71.0M | β$107M | β$140M | β$154M | β$228M | β$203M | β$208M | β$77.0M |
| Income tax | $0.3M | $0.2M | $0.3M | $0.4M | β$1.9M | β$10.4M | $1.2M | $0.6M | $0.7M |
| Net income | β$59.3M | β$71.2M | β$108M | β$140M | β$152M | β$218M | β$205M | β$209M | β$77.7M |
| Diluted EPS | β$24.49 | β$25.51 | β$3.92 | β$3.57 | β$3.15 | β$4.04 | β$3.60 | β$3.60 | β$1.30 |
| Diluted shares | 2.42B | 0.00B | 0.03B | 0.04B | 0.05B | 0.05B | 0.06B | 0.06B | 0.06B |
| Cash flow | |||||||||
| Cash from operations | β$51.3M | β$66.2M | β$87.9M | β$142M | β$112M | β$124M | β$142M | β$64.1M | β$47.6M |
| Capital expenditure | $6.6M | $3.7M | $14.8M | $9.9M | $27.1M | $102M | $27.8M | $5.1M | $28.0M |
| Free cash flow | β$57.9M | β$69.9M | β$103M | β$152M | β$139M | β$226M | β$170M | β$69.2M | β$75.6M |
| Depreciation and amortization | $5.0M | $5.7M | $6.1M | $6.7M | $9.8M | $16.5M | $29.3M | $31.4M | $24.9M |
| Stock-based compensation | $1.9M | $3.0M | $11.2M | $17.1M | $37.0M | $79.7M | $30.3M | $50.9M | $64.5M |
| Acquisitions | β | β | β | $0.0M | $0.5M | $8.2M | $0.0M | $0.0M | β |
| Balance sheet | |||||||||
| Cash and short-term investments | $31.2M | $80.8M | $138M | $290M | $478M | $505M | $336M | $276M | $232M |
| Total debt | β | $9.7M | $7.5M | $4.2M | $1.6M | $0.0M | β | β | β |
| Current assets | β | $95.7M | $160M | $335M | $546M | $596M | $424M | $347M | $333M |
| Current liabilities | β | $18.5M | $30.4M | $36.0M | $63.1M | $90.7M | $73.3M | $71.0M | $91.4M |
| Inventory | β | $6.0M | $7.3M | $12.3M | $31.8M | $39.3M | $32.1M | $24.1M | $28.3M |
| Property and equipment, net | β | $12.3M | $20.8M | $25.5M | $44.1M | $139M | $132M | $103M | $102M |
| Goodwill | β | $1.1M | $1.1M | $1.1M | $22.4M | $85.8M | $85.8M | $85.8M | $82.2M |
| Intangible assets | β | $0.7M | $0.5M | $0.3M | $18.3M | $59.7M | $54.5M | $14.5M | $13.4M |
| Total assets | β | $116M | $187M | $399M | $702M | $961M | $776M | $614M | $642M |
| Total liabilities | β | $26.7M | $34.9M | $62.6M | $121M | $172M | $153M | $142M | $169M |
| Shareholders' equity | β$133M | β$201M | $152M | $336M | $581M | $789M | $623M | $473M | $473M |
| Margins | |||||||||
| Gross margin | β123.1% | β26.6% | 12.8% | 31.8% | 39.1% | 41.4% | 36.6% | 42.6% | 50.7% |
| Operating margin | β543.2% | β277.5% | β200.1% | β155.5% | β115.4% | β115.3% | β88.6% | β70.6% | β36.2% |
| EBITDA margin | β496.5% | β255.0% | β188.9% | β148.1% | β108.0% | β107.2% | β76.6% | β60.5% | β29.6% |
| Net margin | β550.8% | β280.2% | β198.0% | β155.3% | β114.9% | β107.0% | β83.5% | β66.7% | β20.6% |
| FCF margin | β537.7% | β274.7% | β188.8% | β168.8% | β105.3% | β111.1% | β69.5% | β22.1% | β20.1% |
| Returns | |||||||||
| Return on capital | β | β | β400.4% | β219.5% | β115.4% | β65.2% | β | β | β |
| Return on capital employed | β | β72.6% | β69.5% | β38.6% | β23.9% | β27.0% | β30.9% | β40.6% | β24.8% |
| Return on equity | β | β | β | β57.3% | β33.2% | β31.8% | β29.0% | β38.1% | β16.4% |
| Return on assets | β | β61.5% | β71.1% | β47.8% | β27.6% | β26.2% | β23.5% | β30.0% | β12.4% |
| Return on tangible equity | β | β | β71.6% | β41.8% | β28.2% | β33.8% | β42.4% | β56.0% | β20.6% |
| Growth | |||||||||
| Revenue growth | β | 136.2% | 113.9% | 65.7% | 46.9% | 53.8% | 20.4% | 27.7% | 20.3% |
| Share count change | β | β100.0% | 980,685.7% | 42.7% | 23.1% | 11.7% | 5.6% | 2.0% | 3.1% |
| Financial health | |||||||||
| Debt / equity | β | β | 0.0x | 0.0x | 0.0x | 0.0x | β | β | β |
| Interest coverage | β64.6x | β53.7x | β84.1x | β178.0x | β416.1x | β2,934.7x | β43,431.8x | β7,614.9x | β |
| Current ratio | β | 5.2x | 5.3x | 9.3x | 8.7x | 6.6x | 5.8x | 4.9x | 3.6x |
| Quick ratio | β | 4.8x | 5.0x | 9.0x | 8.2x | 6.1x | 5.3x | 4.5x | 3.3x |
| Capital allocation | |||||||||
| Capex / revenue | 61.2% | 14.5% | 27.1% | 11.0% | 20.4% | 50.0% | 11.3% | 1.6% | 7.4% |
| Stock comp / revenue | 17.6% | 11.6% | 20.5% | 19.0% | 28.0% | 39.1% | 12.4% | 16.3% | 17.1% |
| Quality scores | |||||||||
| Piotroski F-score | β | β | 6.0 | 4.0 | 4.0 | 4.0 | 2.0 | 3.0 | 4.0 |
| Altman Z'' | β | β13.6 | β0.3 | 4.4 | 5.2 | 3.8 | 1.0 | β2.6 | β2.7 |
| Accruals ratio | β | β4.4% | β13.0% | 0.8% | β7.2% | β11.2% | β7.2% | β20.8% | β4.8% |
Source: SEC EDGAR XBRL filings (CIK 0001581280). 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.
