RNACNasdaqPharmaceutical PreparationsFiscal year ends December 31
Cartesian Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$6.08−0.19 (-3.03%)
Close on Oct 19, 2026
- Market cap
- $181.55M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Operating margin
-5127.1%−4784.7 pts over 5 years
Net margin
-4658.6%−4243.6 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 | -92.8% | -70.7% | -30.0% | -7.4% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | 117.7% | 1433.6% | 195.9% | |
| Return on assets | -54.8% | -52.0% | -35.6% | |
| Current ratio | 6.33 | 1.86 | 8.65 | |
| Interest coverage | -27.7× | -36.5× | – | |
| Capex to revenue | 7.2% | 4.9% | 195.0% | |
| Diluted shares | 0M | 3M | 26M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Cartesian Therapeutics generated $240.79M from operations and spent $17.04M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$240.79M
Used
$17.04M
Capital expenditure$17.04M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-4658.6%
×Asset turnover0.01×
×Equity multiplier-5.50×
=Return on equity, FY2025195.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -4658.6% | 0.01× | -5.50× | 195.9% |
| FY2024 | -199.0% | 0.11× | -1.66× | 34.6% |
| FY2023 | -844.9% | 0.11× | -1.36× | 126.9% |
| FY2022 | 31.9% | 0.68× | 2.80× | 60.8% |
| FY2021 | -30.2% | 0.52× | 72.05× | -1137.9% |
| FY2020 | -415.0% | 0.13× | -27.58× | 1433.6% |
| FY2019 | -829.0% | 0.09× | 48.36× | -3716.0% |
| FY2018 | -7235.4% | 0.01× | 3.14× | -281.6% |
| FY2017 | -31556.0% | 0.00× | 1.78× | -122.4% |
| FY2016 | -448.0% | 0.12× | -2.15× | 117.7% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
1of 7 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$130.30M
- Cash generatingOperating cash flow above zero-$73.94M
- Return on assets improvedROA up on the prior year-25.4% → -30.0%
- Earnings backed by cashOperating cash flow above net income-$73.94M vs -$130.30M
- Less leverageLong-term debt to assets fell– → 0.0%
- Better liquidityCurrent ratio rose9.43 → 8.65
- No dilutionShare count did not rise17M → 26M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.13 → 0.01