Overall Score

Revenue Model

ABUS appears to monetize a high-margin biotech model with revenue per share of 0.92 and price-to-sales of 5.08, indicating the market is still valuing the platform on growth and pipeline potential.

Gross profit margin remains extremely high at 99.98%, consistent with a business model that can scale efficiently once products or collaborations generate revenue.

Profitability

Margins remain exceptionally strong, with EBIT margin at 84.27% and net profit margin at 84.23%, showing the business is currently highly profitable on an accounting basis.

Return metrics are robust, including ROE of 90.98% and ROIC of 54.29%, supporting a strong capital efficiency profile.

Cash Generation

Operating cash flow and free cash flow remain negative, with free cash flow per share at -0.125 and free cash flow yield at -2.67%, indicating the business is not yet self-funding on a cash basis.

The cash conversion profile is weak, with operating cash flow ratio at -7.32 and cash conversion cycle deeply negative due to working-capital dynamics, so reported earnings are not translating into cash.

Balance Sheet

The balance sheet remains very liquid, with a current ratio of 81.4 and cash ratio of 5.70, suggesting substantial near-term financial flexibility.

Leverage is minimal, with debt-to-equity at 0.0020 and net debt to EBITDA still negative, so solvency risk remains low.

Scalability

Operating leverage looks strong, as EBIT margin is high and SG&A is only 9.07% of revenue while R&D is 9.80% of revenue, indicating a relatively efficient cost structure.

However, the business still shows weak cash scalability because operating cash flow remains negative despite very high reported margins.