STLN Nasdaq Services-Offices & Clinics Of Doctors Of Medicine Financials FY2020βFY2025
Starling Oncology, Inc. had $503M of revenue in fiscal 2025, up 27.8% on the year before. Over five years, revenue changed +21.8% a year on average.
Last close Β· Oct 23, 2026
$6.71
2.9%Hi! I read Starling Oncology, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+27.8%
Yes. Sales grew 27.8% last year.
Does it make a profit?
β12.1%
No. It lost money last year.
Does profit turn into cash?
β5.5%
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?
KIRA Β· Starling Oncology, Inc. had $503M of revenue in fiscal 2025, up 27.8% on the year before. Over five years, revenue changed +21.8% a year on average. Its operating margin was β7.2%, up 8.1Β pts: of every 100 in sales, about β7 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· Starling Oncology, Inc. lost $60.6M 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$27.8M in fiscal 2025, β5.5% 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
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders bought $2.7M and sold $2.8M of shares on the open market.
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
$2.7M
1 insider
Sold, 12 months
$2.8M
5 insiders
Of sales under plans
91%
$2.6M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 21, 2026 | Brad HivelyDirector | Sold plan | 298,853 | $6.51 | $1.9M | Form 4 |
| Aug 14, 2026 | Jorey Chernett10% owner | Bought | 12,000 | $6.54 | $0.1M | Form 4 |
| Jul 21, 2026 | Jorey Chernett10% owner | Bought | 18,000 | $5.27 | $0.1M | Form 4 |
| Jul 14, 2026 | Yale PodnosChief Medical Officer | Sold plan | 23,452 | $6.41 | $0.2M | Form 4 |
| Jul 10, 2026 | Jorey Chernett10% owner | Bought | 15,000 | $5.85 | $0.1M | Form 4 |
| Jun 23, 2026 | Jorey Chernett10% owner | Bought | 18,000 | $5.02 | $0.1M | Form 4 |
| Jun 8, 2026 | Yale PodnosChief Medical Officer | Sold plan | 23,451 | $5.38 | $0.1M | Form 4 |
| Jun 4, 2026 | Jorey Chernett10% owner | Bought | 12,000 | $4.75 | $0.1M | Form 4 |
| May 20, 2026 | Jorey Chernett10% owner | Bought | 33,500 | $4.07 | $0.1M | Form 4 |
| May 19, 2026 | Jorey Chernett10% owner | Bought | 30,000 | $4.09 | $0.1M | Form 4 |
| May 19, 2026 | Jorey Chernett10% owner | Bought | 5,000 | $4.05 | $0.0M | Form 4 |
| Apr 16, 2026 | Mohit KaushalDirector | Sold plan | 38,433 | $3.50 | $0.1M | Form 4 |
| Apr 14, 2026 | Mohit KaushalDirector | Sold plan | 57,286 | $3.50 | $0.2M | Form 4 |
| Apr 9, 2026 | Jorey Chernett10% owner | Bought | 20,000 | $3.10 | $0.1M | Form 4 |
| Mar 27, 2026 | Jorey Chernett10% owner | Bought | 27,429 | $2.96 | $0.1M | Form 4 |
| Mar 26, 2026 | Jorey Chernett10% owner | Bought | 50,000 | $3.15 | $0.2M | Form 4 |
| Mar 24, 2026 | Jorey Chernett10% owner | Bought | 125,000 | $3.11 | $0.4M | Form 4 |
| Mar 20, 2026 | Jorey Chernett10% owner | Bought | 25,000 | $3.35 | $0.1M | Form 4 |
| Mar 17, 2026 | Jorey Chernett10% owner | Bought | 75,000 | $3.42 | $0.3M | Form 4 |
| Mar 16, 2026 | Jorey Chernett10% owner | Bought | 60,985 | $3.29 | $0.2M | Form 4 |
| Mar 13, 2026 | Jorey Chernett10% owner | Bought | 263,000 | $2.92 | $0.8M | Form 4 |
| Jan 2, 2026 | Robert Ross CarterChief Financial Officer | Sold | 247 | $3.56 | $0.0M | Form 4 |
| Dec 15, 2025 | Brad HivelyDirector | Sold | 13,333 | $3.77 | $0.1M | Form 4 |
| Nov 18, 2025 | Mark L PacalaDirector | Sold | 50,000 | $4.00 | $0.2M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Starling Oncology, Inc. owes $43.9M more than it holds in cash.
Cash, debt and the ratios that show how comfortably Starling Oncology, 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 | $115M | $73.8M | $82.9M | $49.7M | $33.6M |
| Debt incl. finance leases | $0.4M | $80.9M | $87.0M | $93.2M | $77.5M |
| Debt / equity | 0.0x | 0.7x | 1.5x | 25.9x | β |
| Interest coverage | β143.3x | β | β11.4x | β8.0x | β3.2x |
| Current ratio | 5.2x | 4.4x | 4.1x | 2.2x | 1.6x |
| Quick ratio | 5.0x | 4.1x | 3.7x | 2.0x | 1.4x |
| Total assets | $203M | $262M | $209M | $173M | $165M |
| Total liabilities | $99.3M | $138M | $152M | $169M | $180M |
| Shareholders' equity | $104M | $123M | $57.0M | $3.6M | β$15.7M |
| Net debt (β = net cash) | β$115M | $7.1M | $4.1M | $43.6M | $43.9M |
KIRA Β· Its return on capital was β101.4%: every 100 invested in the business earned about β101 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· Starling Oncology, Inc. 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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β |
| F-score | β / 3 | 3 / 8 | 2 / 8 | 3 / 8 | 3 / 8 | 4 / 8 |
| Accruals ratio | β22.6% | 16.2% | 26.6% | β19.9% | β20.0% | β21.4% |
| Altman Z'' | β2.54 | 2.58 | 0.57 | β0.95 | β4.01 | β5.27 |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| Revenue | $188M | $203M | $252M | $324M | $393M | $503M |
| Net interest income | β | β$0.3M | β$4.1M | β$6.8M | β | β |
| Operating income | β$8.2M | β$45.9M | β$82.0M | β$77.0M | β$60.1M | β$36.1M |
| Interest expense | $0.3M | $0.3M | β | $6.8M | $7.5M | $11.3M |
| Pretax income | β$14.8M | β$11.6M | β$0.1M | β$83.1M | β$64.7M | β$60.7M |
| Income tax | β$0.5M | β$0.7M | β$0.2M | β$0.0M | $0.0M | β$0.1M |
| Net income | β$14.3M | β$10.9M | $0.2M | β$83.1M | β$64.7M | β$60.6M |
| Net income to common | β | β$10.6M | $0.1M | β$67.9M | β$53.0M | β$50.3M |
| Diluted EPS | β$0.24 | β$0.16 | β$0.21 | β$0.92 | β$0.71 | β$0.54 |
| Diluted shares | 0.06B | 0.07B | 0.08B | 0.07B | 0.08B | 0.09B |
| Cash flow | ||||||
| Cash from operations | $0.5M | β$32.7M | β$61.8M | β$36.3M | β$26.5M | β$24.6M |
| Capital expenditure | $1.2M | $2.8M | $5.5M | $4.6M | $3.8M | $3.2M |
| Free cash flow | β$0.7M | β$35.5M | β$67.3M | β$40.9M | β$30.3M | β$27.8M |
| Depreciation and amortization | $3.2M | $3.3M | $4.4M | $5.9M | $6.3M | $6.9M |
| Stock-based compensation | $0.2M | $24.5M | $27.7M | $17.8M | $11.2M | $4.6M |
| Acquisitions | $0.2M | $9.1M | $8.6M | $4.5M | $0.0M | β |
| Share buybacks | β | $0.0M | $9.0M | $1.0M | $0.0M | β |
| Dividends and buybacks | β | $0.0M | $9.0M | $1.0M | $0.0M | β |
| Balance sheet | ||||||
| Cash and short-term investments | $0.9M | $115M | $73.8M | $82.9M | $49.7M | $33.6M |
| Total debt | $17.3M | $0.4M | $80.6M | $86.8M | $93.1M | $77.4M |
| Finance lease liabilities | β | β | $0.2M | $0.1M | $0.1M | $0.1M |
| Current assets | $29.7M | $154M | $130M | $143M | $112M | $113M |
| Current liabilities | $28.6M | $29.8M | $29.7M | $34.8M | $52.2M | $71.0M |
| Inventory | $4.4M | $6.4M | $9.3M | $13.7M | $10.0M | $16.9M |
| Property and equipment, net | $2.1M | $4.2M | $8.5M | $10.9M | $11.9M | $10.7M |
| Goodwill | $14.2M | $26.6M | $21.4M | $7.2M | $7.2M | $7.2M |
| Intangible assets | $19.5M | $18.2M | $18.0M | $17.9M | $14.8M | $11.0M |
| Total assets | $65.7M | $203M | $262M | $209M | $173M | $165M |
| Total liabilities | $37.6M | $99.3M | $138M | $152M | $169M | $180M |
| Preferred stock | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Shareholders' equity | $28.1M | $104M | $123M | $57.0M | $3.6M | β$15.7M |
| Margins | ||||||
| Operating margin | β4.4% | β22.6% | β32.5% | β23.8% | β15.3% | β7.2% |
| EBITDA margin | β2.7% | β20.9% | β30.7% | β21.9% | β13.7% | β5.8% |
| Net margin | β7.6% | β5.4% | 0.1% | β25.6% | β16.4% | β12.1% |
| FCF margin | β0.4% | β17.5% | β26.6% | β12.6% | β7.7% | β5.5% |
| Net interest share of revenue | β | β0.2% | β1.6% | β2.1% | β | β |
| Returns | ||||||
| Return on capital | β14.6% | β | β49.8% | β99.8% | β100.9% | β101.4% |
| Return on capital employed | β22.1% | β26.4% | β35.3% | β44.1% | β49.9% | β38.5% |
| Return on equity | β51.0% | β16.5% | 0.1% | β92.2% | β213.4% | β |
| Return on assets | β21.8% | β8.1% | 0.1% | β35.3% | β33.9% | β35.9% |
| Return on tangible equity | β | β17.9% | 0.1% | β212.8% | β | β |
| Growth | ||||||
| Revenue growth | β | 8.3% | 24.4% | 28.4% | 21.3% | 27.8% |
| Net income growth | β | β | β | β54,750.0% | β | β |
| Share count change | β | 12.0% | 21.7% | β8.5% | 1.8% | 23.1% |
| Financial health | ||||||
| Debt / equity | 0.6x | 0.0x | 0.7x | 1.5x | 25.9x | β |
| Interest coverage | β23.6x | β143.3x | β | β11.4x | β8.0x | β3.2x |
| Current ratio | 1.0x | 5.2x | 4.4x | 4.1x | 2.2x | 1.6x |
| Quick ratio | 0.9x | 5.0x | 4.1x | 3.7x | 2.0x | 1.4x |
| Capital allocation | ||||||
| Capex / revenue | 0.6% | 1.4% | 2.2% | 1.4% | 1.0% | 0.6% |
| Stock comp / revenue | 0.1% | 12.1% | 11.0% | 5.5% | 2.8% | 0.9% |
| Quality scores | ||||||
| Piotroski F-score | β | 3.0 | 2.0 | 3.0 | 3.0 | 4.0 |
| Altman Z'' | β2.5 | 2.6 | 0.6 | β0.9 | β4.0 | β5.3 |
| Accruals ratio | β22.6% | 16.2% | 26.6% | β19.9% | β20.0% | β21.4% |
Source: SEC EDGAR XBRL filings (CIK 0001799191). 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.