OCGNNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Ocugen, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$0.79+0.01 (+0.90%)
Close on Oct 19, 2026
- Market cap
- $266.64M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Operating margin
-1425.7%+48074.3 pts over 5 years
Net margin
-1537.4%+49211.4 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 | +8.8% | +21.0% | +152.5% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -77.6% | -134.0% | -776.9% | |
| Return on assets | -44.5% | -98.8% | -107.7% | |
| Current ratio | 6.20 | 7.16 | 1.06 | |
| Debt to equity | – | 0.10 | -2.37 | |
| Net debt to EBITDA | – | – | – | |
| Interest coverage | -505.1× | -29.5× | -12.1× | |
| Capex to revenue | – | 714.0% | 4.2% | |
| Diluted shares | 2M | 112M | – |
Where the cash went
Fiscal 2021 to 2025, five years combined
Ocugen generated $269.18M from operations and spent $19.44M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$269.18M
Used
$19.44M
Capital expenditure$19.44M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1537.4%
×Asset turnover0.07×
×Equity multiplier7.21×
=Return on equity, FY2025-776.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1537.4% | 0.07× | 7.21× | -776.9% |
| FY2024 | -1333.0% | 0.06× | 2.09× | -154.0% |
| FY2023 | -1045.0% | 0.07× | 1.51× | -110.1% |
| FY2022 | -3488.9% | 0.02× | 1.30× | -105.1% |
| FY2020 | -50748.8% | 0.00× | 1.36× | -134.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$67.85M
- Cash generatingOperating cash flow above zero-$56.96M
- Return on assets improvedROA up on the prior year-83.7% → -82.3%
- Earnings backed by cashOperating cash flow above net income-$56.96M vs -$67.85M
- Less leverageLong-term debt to assets fell33.2% → 63.3%
- Better liquidityCurrent ratio rose2.86 → 1.06
- No dilutionShare count did not rise– → –
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.06 → 0.05