Fulcrum Therapeutics, Inc. Financial Ratios — FULC Stock

Profitability (USD)

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Return on Common Equity (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Assets (%)	- -	-72.33	-84.27	-59.01	-44.35	-47.6	-40.19	-3.75	-23.89
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	- -	- -	- -	100	100	100	100	100	- -
EBITDA Margin (%)	- -	- -	- -	-784.68	-409.85	-1,730.05	-3,867.81	-22.8	- -
Operating Margin (%)	- -	- -	- -	-811.64	-422.97	-1,768.12	-3,945.24	-24.79	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	81.17
Pretax Margin (%)	- -	- -	- -	-802.66	-421.89	-1,732.43	-3,470.05	-12.16	- -
Profit Margin (%)	- -	- -	- -	-802.66	-421.89	-1,732.43	-3,470.05	-12.16	- -
Net Income to Common Margin (%)	- -	- -	- -	-802.66	-421.89	-1,732.43	-3,470.05	-12.16	- -
Effective Tax Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dvd Payout Ratio (%)	9.49	16.75	7.94	- -	- -	- -	- -	- -	- -
Sustainable Growth Rate (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -

Credit (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Debt	- -	- -	- -	- -	- -	13	11	9	6
ST Debt	- -	- -	- -	- -	- -	3	2	2	2
LT Debt	- -	- -	- -	- -	- -	11	9	6	4
Total Debt/EBITDA	- -	- -	- -	- -	- -	-0.12	-0.1	-0.47	-0.08
Net Debt/EBITDA	0.02	2.26	1.18	0.82	0.45	0.32	0.24	3.19	2.37
Total Debt/EBIT	- -	- -	- -	- -	- -	-0.12	-0.1	-0.44	-0.08
Net Debt/EBIT	0.02	2.17	1.15	0.8	0.44	0.31	0.23	2.93	2.33
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	-818.78	-79.42	-136.53	-171.01	-128.69	-181.88	-197.76	-199.2	-162.23
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	5.44	3.67	2.65	1.16
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	-2.71	-1.73	-1.26	-0.69
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	4.77	3.35	2.47	1.1
Total Debt/Equity (%)	- -	0.06	0.06	0.02	- -	6.75	4.6	3.55	1.85
Total Debt/Capital (%)	- -	0.06	-0.03	-0.01	- -	-3.37	-2.17	-1.69	-1.1
Total Debt/Total Assets (%)	- -	0.05	0.05	0.01	- -	5.92	4.2	3.31	1.76
Net Debt to Equity	-30.79	-95.79	-110.97	-59.94	-16.74	-17.64	-10.87	-23.95	-56.6
Net Debt/Capital (%)	30.04	6,051.29	39.09	20.48	10.48	8.09	4.88	10.23	25.15
EBITDA	-22	-32	-82	-69	-79	-110	-108	-18	-83
EBITDA-CapEx	-24	-41	-83	-71	-80	-112	-109	-19	-84
Operating Income (Loss)	-23	-33	-84	-72	-81	-112	-111	-20	-85

Liquidity (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Cash Ratio	0.15	17.21	7.97	4.23	11.36	12.13	17.27	21.82	27
Current Ratio	0.48	17.52	8.24	4.47	11.77	12.41	17.71	22.63	27.4
Quick Ratio	0.16	17.33	7.98	4.33	11.58	12.2	17.44	22.13	27.08
CFO/Avg Current Liab	- -	-6.43	-4.82	-2.76	-3.42	-5.4	-5.98	-0.18	-4.99
Common Equity/Total Assets	-818.78	-79.42	-136.53	-171.01	-128.69	-181.88	-197.76	-199.2	-162.23
Long-Term Debt/Equity (%)	- -	- -	- -	- -	- -	5.44	3.67	2.65	1.16
Long-Term Debt/Capital (%)	- -	- -	- -	- -	- -	-2.71	-1.73	-1.26	-0.69
Long-Term Debt/Total Assets (%)	- -	- -	- -	- -	- -	4.77	3.35	2.47	1.1
Total Debt/Equity (%)	- -	0.06	0.06	0.02	- -	6.75	4.6	3.55	1.85
Total Debt/Capital (%)	- -	0.06	-0.03	-0.01	- -	-3.37	-2.17	-1.69	-1.1
Total Debt/Total Assets (%)	- -	0.05	0.05	0.01	- -	5.92	4.2	3.31	1.76
CFO/Total Liabilities	-665.14	-230.91	-169.56	-155.99	-334.5	-349.82	-404.27	-12.54	-347.52
CFO/CapEx	-10.52	-2.51	-46.29	-39.98	-45.81	-49.44	-179.06	-7.98	-191.29
Altman's Z-Score	-29.35	-1.42	1.26	1.89	14.2	3.94	7.92	8.25	22.97

Working Capital (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Accounts Receivable Turnover	- -	- -	- -	8.82	8.52	5.07	- -	- -	- -
Days Sales Outstanding	- -	- -	- -	41.37	42.86	71.94	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Market Capitalization	- -	- -	184	297	626	328	414	291	717
- Cash & Cash Equivalents	- -	73	97	57	35	35	26	58	198
+ Preferred Equity and Hybrid Capital	35	140	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	- -	- -	- -	- -	- -	13	11	9	6
Enterprise Value	34	67	87	184	407	138	188	59	371
Total Capital	-1	72	-151	-222	-302	-399	-499	-511	-588
Total Debt/Capital (%)	- -	0.06	-0.03	-0.01	- -	-3.37	-2.17	-1.69	-1.1
Total Debt / EV	- -	- -	- -	- -	- -	0.1	0.06	0.15	0.02
EV/Sales	- -	- -	- -	20.85	21.26	21.77	67.18	0.74	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -
Diluted Market Cap	- -	- -	184	297	626	328	414	291	717
Diluted Enterprise Value	34	67	87	240	590	306	399	242	525
EV per Share	3.12	3.95	7.89	7.26	11.52	3.07	3.07	0.95	5.85
TTM Sales	- -	- -	- -	9	19	6	3	80	- -
TTM EBITDA	-22	-32	-82	-69	-79	-110	-108	-18	-83
TTM Operating Income	-23	-33	-84	-72	-81	-112	-111	-20	-85
TTM Cash Flow to Firm	-20	-23	-39	-54	-78	-97	-91	-2	-60
TTM Free Cash Flow to Firm	-18	-14	-39	-52	-77	-95	-90	-2	-60

Multiples (USD)

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	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Price/Free Cash Flow	- -	- -	-4.76	-5.68	-8.15	-3.44	-4.58	-150.17	-11.99
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	34	67	87	184	407	138	188	59	371
Low Price	- -	- -	4.37	7.01	6.85	3.21	2.25	2.86	2.32
EV/Sales	- -	- -	- -	20.85	21.26	21.77	67.18	0.74	- -
EV/EBITDA	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings	- -	- -	- -	- -	- -	- -	- -	- -	- -
Price/Earnings Average	- -	- -	-1.26	-4.92	-6.72	-3.84	-3.26	-43.82	-5.64
Price/Earnings High	- -	- -	-2.37	-8.22	-14.48	-10.15	-9.45	-87.32	-13.32
Price/Earnings Low	- -	- -	-0.54	-2.51	-3	-1.31	-1.42	-18.23	-1.96
Price/Book Value	- -	- -	-1.22	-1.34	-2.07	-0.79	-0.81	-0.56	-1.21
Price/Book Value Average	- -	- -	-0.75	-1.57	-1.8	-1.02	-0.62	-0.82	-0.71
Price/Book Value High	- -	- -	-1.41	-2.63	-3.87	-2.71	-1.8	-1.64	-1.68
Price/Book Value Low	- -	- -	-0.32	-0.8	-0.8	-0.35	-0.27	-0.34	-0.25
Price/Tangible Book Value	- -	- -	2.11	3.12	2.96	1.65	1.76	1.2	2.05
Price/Tangible Book Value Average	- -	- -	1.3	3.66	2.57	2.12	1.35	1.75	1.21
Price/Tangible Book Value High	- -	- -	2.45	6.12	5.53	5.61	3.91	3.49	2.86
Price/Tangible Book Value Low	- -	- -	0.55	1.87	1.15	0.73	0.59	0.73	0.42
Price/Sales	- -	- -	- -	33.65	32.64	51.65	147.54	3.64	- -
Price/Sales Average	- -	- -	- -	39.5	28.35	66.49	113.01	5.33	- -
Price/Sales High	- -	- -	- -	65.98	61.08	175.86	327.86	10.61	- -
Price/Sales Low	- -	- -	- -	20.14	12.64	22.77	49.18	2.22	- -
Price/Cash Flow	- -	- -	-4.66	-5.53	-7.97	-3.37	-4.55	-131.35	-11.93
Price/Cash Flow Average	- -	- -	-2.86	-6.5	-6.92	-4.34	-3.48	-192.15	-7.03
Price/Cash Flow High	- -	- -	-5.4	-10.85	-14.91	-11.49	-10.11	-382.86	-16.6
Price/Cash Flow Low	- -	- -	-1.22	-3.31	-3.09	-1.49	-1.52	-79.93	-2.45
Price/Free Cash Flow Average	- -	- -	-2.93	-6.66	-7.08	-4.43	-3.5	-219.68	-7.07
Price/Free Cash Flow High	- -	- -	-5.52	-11.13	-15.25	-11.73	-10.17	-437.72	-16.69
Price/Free Cash Flow Low	- -	- -	-1.25	-3.4	-3.16	-1.52	-1.53	-91.38	-2.46
EV/Sales Average	- -	- -	- -	33.04	26.5	63.07	107.75	4.71	- -
EV/Sales High	- -	- -	- -	59.51	59.23	172.45	322.61	9.99	- -
EV/Sales Low	- -	- -	- -	13.68	10.79	19.35	43.92	1.6	- -
EV/EBITDA Average	-1.53	-2.08	-0.2	-4.21	-6.47	-3.65	-2.79	-20.65	-2.77
EV/EBITDA High	-1.53	-2.08	-1.42	-7.58	-14.45	-9.97	-8.34	-43.84	-9.67
EV/EBITDA Low	-1.53	-2.08	0.59	-1.74	-2.63	-1.12	-1.14	-7	0.53
EV/EBIT Average	-1.49	-2	-0.19	-4.07	-6.27	-3.57	-2.73	-18.99	-2.73
EV/EBIT High	-1.49	-2	-1.38	-7.33	-14	-9.75	-8.18	-40.31	-9.51
EV/EBIT Low	-1.49	-2	0.57	-1.69	-2.55	-1.09	-1.11	-6.44	0.52
Last Price	- -	- -	16.64	11.71	17.69	7.28	6.75	4.7	11.31
High Price	- -	- -	19.3	22.96	33.1	24.79	15	13.7	15.74
Enterprise Value Average	34	67	16	292	508	400	302	377	231
Enterprise Value High	34	67	117	525	1,135	1,094	905	800	806
Enterprise Value Low	34	67	-48	121	207	123	123	128	-44

	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Shares Outstanding	23	23	23	28	41	52	62	54	67
Diluted Weighted Avg Shares	11	17	11	25	35	45	61	62	63
Basic Weighted Avg Shares	11	17	11	25	35	45	61	62	63
Revenue per Share	- -	- -	- -	0.35	0.54	0.14	0.05	1.29	- -
EBITDA per Share	-2.03	-1.9	-7.44	-2.73	-2.22	-2.44	-1.77	-0.29	-1.32
Operating Income per Share	-2.1	-1.98	-7.62	-2.82	-2.29	-2.49	-1.8	-0.32	-1.34
Basic EPS, GAAP	-2.32	-2.31	-8.13	-2.79	-2.29	-2.44	-1.59	-0.16	-1.18
Basic EPS from Cont Ops	-2.1	-1.92	-7.48	-2.79	-2.29	-2.44	-1.59	-0.16	-1.18
Diluted EPS, GAAP	-2.32	-2.31	-8.13	-2.79	-2.29	-2.44	-1.59	-0.16	-1.18
Diluted EPS from Cont Ops	-2.1	-1.92	-7.48	-2.79	-2.29	-2.44	-1.59	-0.16	-1.18
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Flow per Share	-1.83	-1.33	-3.57	-2.12	-2.22	-2.16	-1.48	-0.04	-0.95
Free Cash Flow per Basic Share	-2.01	-1.86	-3.65	-2.17	-2.27	-2.2	-1.49	-0.04	-0.95
Cash & Equivalents per Share	0.04	4.3	8.76	4.45	6.17	4.51	3.85	3.89	5.56
Book Value per Share	-3.24	-4.02	-13.65	-8.74	-8.55	-9.16	-8.31	-8.38	-9.38
Tangible Book Value per Share	-3.04	-3.76	7.89	3.75	5.98	4.42	3.84	3.92	5.51

Fulcrum Therapeutics, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)