FDMTNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
4D Molecular Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$12.29+0.15 (+1.24%)
Close on Oct 19, 2026
- Market cap
- $863.64M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
-187.2%+229.0 pts over 5 years
Net margin
-164.4%+252.1 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +230194.6% | +200.9% | +44.3% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -61.8% | -27.6% | |
| Return on assets | – | -32.7% | -24.9% | |
| Current ratio | – | 16.88 | 9.39 | |
| Capex to revenue | – | 7.3% | 0.6% | |
| Diluted shares | – | 6M | 58M |
Where the cash went
Fiscal 2021 to 2025, five years combined
4D Molecular Therapeutics generated $475.28M from operations and spent $27.74M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$475.28M
Used
$27.74M
Capital expenditure$27.74M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-164.4%
×Asset turnover0.15×
×Equity multiplier1.11×
=Return on equity, FY2025-27.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -164.4% | 0.15× | 1.11× | -27.6% |
| FY2024 | -434778.4% | 0.00× | 1.10× | -39.3% |
| FY2023 | -486.6% | 0.07× | 1.12× | -37.4% |
| FY2022 | -3435.4% | 0.01× | 1.12× | -39.1% |
| FY2021 | -395.4% | 0.06× | 1.12× | -24.8% |
| FY2020 | -416.5% | 0.08× | 1.89× | -61.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$140.11M
- Cash generatingOperating cash flow above zero-$109.08M
- Return on assets improvedROA up on the prior year-47.3% → -25.0%
- Earnings backed by cashOperating cash flow above net income-$109.08M vs -$140.11M
- Less leverageLong-term debt to assets fell– → 0.0%
- Better liquidityCurrent ratio rose14.92 → 9.39
- No dilutionShare count did not rise54M → 58M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.00 → 0.15