RLAYNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Relay Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$17.09+0.81 (+4.98%)
Close on Oct 19, 2026
- Market cap
- $3.47B
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Operating margin
-1971.6%−1904.1 pts over 5 years
Net margin
-1800.6%−1737.2 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 | +53.4% | +123.2% | -28.6% | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -18.0% | -41.1% | |
| Return on assets | – | -8.8% | -37.0% | |
| Current ratio | – | 56.49 | 22.61 | |
| Capex to revenue | – | 2.3% | 2.7% | |
| Diluted shares | – | 43M | 172M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Relay Therapeutics generated $1.09B from operations and spent $19.09M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$1.09B
Used
$19.09M
Capital expenditure$19.09M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1800.6%
×Asset turnover0.02×
×Equity multiplier1.11×
=Return on equity, FY2025-41.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1800.6% | 0.02× | 1.11× | -41.1% |
| FY2024 | -3374.7% | 0.01× | 1.12× | -44.2% |
| FY2023 | -1338.7% | 0.03× | 1.14× | -40.2% |
| FY2022 | -21036.1% | 0.00× | 1.14× | -31.4% |
| FY2021 | -12012.9% | 0.00× | 1.09× | -43.8% |
| FY2020 | -63.4% | 0.14× | 2.05× | -18.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$276.48M
- Cash generatingOperating cash flow above zero-$235.46M
- Return on assets improvedROA up on the prior year-40.0% → -31.7%
- Earnings backed by cashOperating cash flow above net income-$235.46M vs -$276.48M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose15.95 → 22.61
- No dilutionShare count did not rise143M → 172M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.01 → 0.02