VYGRNasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
Voyager Therapeutics, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$2.05+0.15 (+7.89%)
Close on Oct 19, 2026
- Market cap
- $124.12M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2013 to 2025
Operating margin
-326.6%−342.6 pts over 5 years
Net margin
-296.5%−318.0 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 | -49.5% | -0.4% | -25.1% | +8.8% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -26.4% | 28.9% | -48.3% | |
| Return on assets | -19.2% | 11.9% | -37.1% | |
| Current ratio | 12.95 | 7.39 | 7.64 | |
| Capex to revenue | 35.4% | 7.1% | 6.4% | |
| Diluted shares | 25M | 37M | 59M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Voyager Therapeutics generated $291.73M from operations and spent $13.47M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$291.73M
Used
$13.47M
Capital expenditure$13.47M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-296.5%
×Asset turnover0.13×
×Equity multiplier1.30×
=Return on equity, FY2025-48.3%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -296.5% | 0.13× | 1.30× | -48.3% |
| FY2024 | -81.3% | 0.21× | 1.39× | -24.3% |
| FY2023 | 52.9% | 0.98× | 1.73× | 89.6% |
| FY2022 | -113.4% | 0.23× | 2.29× | -60.2% |
| FY2021 | -190.3% | 0.16× | 1.83× | -57.1% |
| FY2020 | 21.5% | 0.56× | 2.43× | 28.9% |
| FY2019 | -41.8% | 0.39× | 3.64× | -59.7% |
| FY2018 | -1158.8% | 0.04× | 2.00× | -97.8% |
| FY2017 | -697.6% | 0.05× | 1.39× | -52.4% |
| FY2016 | -282.7% | 0.07× | 1.37× | -26.4% |
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-$119.72M
- Cash generatingOperating cash flow above zero-$132.47M
- Return on assets improvedROA up on the prior year-18.5% → -30.5%
- Earnings backed by cashOperating cash flow above net income-$132.47M vs -$119.72M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose5.56 → 7.64
- No dilutionShare count did not rise58M → 59M
- Gross margin improvedGross margin up on the prior year– → –
- More efficientAsset turnover rose0.23 → 0.10