ANABAnaptysBio, Inc.
Is the business good?
The checks split: margins widening, but thin cash backing (0.1×) and returns that lean on debt.
Operating profit outpaces operating cash flow, watch accruals and working capital. Conversion is improving vs a year ago.
Positive operating leverage, operating profit is growing faster than sales, so margins widen as the business scales.
Leverage-amplified, a high assets-to-equity ratio does much of the work. ROE 473% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is ANAB?
AnaptysBio, Inc. keeps 132% of every revenue dollar as operating profit, against −77% for the median Biotechnology name.
Operating margin · Biotechnology median −77% · 12 months to Q2 2026
- Cash conversion
- 0.07×
Cash conversion · −1.35× a year ago · the operating profit has not turned into cash yet
| Year | Operating margin |
|---|---|
| FY2020 | −32% |
| FY2021 | −90% |
| FY2022 | −1119% |
| FY2023 | −958% |
| FY2024 | 72% |
| FY2025 | 97% |
Details›
- Operating margin12 months to Q2 2026
- 132%
- Net margin12 months to Q2 2026
- 82%
- Free cash flow margin
- 4.4%
- Revenue, trailing twelve months
- $238M
- Free cash flow, trailing twelve months
- $10M
- Net income, trailing twelve months
- $196M
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.