SMTKNasdaqSemiconductors & Related DevicesFiscal year ends December 31
SmartKem, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 14, 2026
$0.47−0.06 (-10.60%)
Close on Oct 19, 2026
- Market cap
- $11.11M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2019 to 2025
Gross margin
61.0%+19.5 pts over 5 years
Operating margin
-1841.5%+2999.0 pts over 5 years
Net margin
-1507.7%+23101.8 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 | +750.0% | +159.3% | +49.3% | – | |
| Gross profit | +750.0% | +293.0% | +61.2% | – |
Returns and balance sheet
7 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2019 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 1431.5% | -791.0% | |
| Return on assets | – | – | -187.8% | |
| Current ratio | – | 1.88 | 0.25 | |
| Interest coverage | – | -0.7× | – | |
| Capex to revenue | – | 125.5% | 17.6% | |
| Diluted shares | – | 0M | 8M |
Where the cash went
Fiscal 2021 to 2025, five years combined
SmartKem generated $42.65M from operations and spent $636.00K on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$42.65M
Used
$636.00K
Capital expenditure$636.00K100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-1507.7%
×Asset turnover0.12×
×Equity multiplier4.21×
=Return on equity, FY2025-791.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -1507.7% | 0.12× | 4.21× | -791.0% |
| FY2024 | -12597.6% | 0.01× | 1.37× | -140.5% |
| FY2023 | -31477.8% | 0.00× | 1.34× | -121.4% |
| FY2022 | -28737.5% | 0.00× | 1.16× | -118.5% |
| FY2021 | -95144.4% | 0.00× | 1.17× | -222.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$10.51M
- Cash generatingOperating cash flow above zero-$7.74M
- Return on assets improvedROA up on the prior year-91.6% → -118.0%
- Earnings backed by cashOperating cash flow above net income-$7.74M vs -$10.51M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.72 → 0.25
- No dilutionShare count did not rise3M → 8M
- Gross margin improvedGross margin up on the prior year60.98% → 60.98%
- More efficientAsset turnover rose0.01 → 0.08