Overall Score

Revenue Model

Biocryst generates revenue primarily from its commercial rare-disease portfolio, with revenue per share at 3.70 and price-to-sales at 2.66.

Gross margin remains positive at 23.5%, indicating the core product mix still supports monetization despite overall losses.

Profitability

Operating profitability remains negative, with EBIT margin at -32.8% and net margin at -40.9%, showing the business is still not sustainably profitable.

Return on invested capital is deeply negative at -89.0%, reflecting weak capital efficiency even though return on equity is positive on a distorted equity base.

Cash Generation

Free cash flow remains positive, with free cash flow per share at 1.40 and free cash flow yield at 14.3%, supporting ongoing self-funding capacity.

Cash conversion is strong, as operating cash flow ratio is 1.72 and free cash flow is nearly equal to operating cash flow at 99.2%.

Balance Sheet

Liquidity is solid, with a current ratio of 2.32 and quick ratio of 2.29, giving the company room to operate.

Leverage appears manageable in the near term, with debt-to-assets at 73.5% and net debt to EBITDA negative, supported by cash per share of 1.39.

Operating Efficiency

Working capital efficiency is decent, with working capital turnover at 4.14 and a cash conversion cycle of 40.2 days.

Asset utilization is strong, with asset turnover at 1.69 and fixed asset turnover at 43.4, but the company still converts that efficiency into losses.