RANINasdaqPharmaceutical PreparationsFiscal year ends December 31
Rani Therapeutics Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$0.65+0.01 (+1.51%)
Close on Oct 19, 2026
- Market cap
- $121.72M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Operating margin
-2346.0%+1235.0 pts over 5 years
Net margin
-1817.1%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +58.9% | – | +28.7% | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -169.6% | |
| Return on assets | – | – | -62.3% | |
| Current ratio | 14.12 | 14.12 | 4.21 | |
| Debt to equity | -0.03 | -0.03 | 0.00 | |
| Net debt to EBITDA | – | – | 0.50× | |
| Interest coverage | -133.4× | -133.4× | -13.3× | |
| Capex to revenue | 259.7% | 259.7% | 5.4% | |
| Diluted shares | – | – | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Rani Therapeutics generated $184.21M from operations and spent $3.71M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$184.21M
Used
$3.71M
Capital expenditure$3.71M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1817.1%
×Asset turnover0.03×
×Equity multiplier2.72×
=Return on equity, FY2025-169.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1817.1% | 0.03× | 2.72× | -169.6% |
| FY2024 | -2920.0% | 0.02× | 6.36× | -404.1% |
| FY2021 | -306.6% | 0.03× | -3.09× | 25.3% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$29.67M
- Cash generatingOperating cash flow above zero-$18.71M
- Return on assets improvedROA up on the prior year-51.8% → -81.0%
- Earnings backed by cashOperating cash flow above net income-$18.71M vs -$29.67M
- Less leverageLong-term debt to assets fell26.2% → 0.0%
- Better liquidityCurrent ratio rose1.50 → 4.21
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.02 → 0.04