Is the business good?
How good a business is TWST?
Twist Bioscience Corporation earns −41% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−41%
Return on invested capital · cost of capital 9.0% · 50 points below what the capital costs: growth destroys value
- Operating margin
- −34%
Operating margin · Diagnostics & Research median 7.1% · 12 months to Q3 2026
- Share count, year on year
- +2.0%
Share count, year on year · shareholders own a smaller slice than a year ago
- R&D as % of revenue
- 17%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | −155% |
| FY2021 | −115% |
| FY2022 | −115% |
| FY2023 | −89% |
| FY2024 | −71% |
| FY2025 | −36% |
Details›
- Gross margin12 months to Q3 2026
- 52%
- Operating margin12 months to Q3 2026
- −34%
- Net margin12 months to Q3 2026
- −32%
- Free cash flow margin
- −22%
- R&D as % of revenue
- 17%
- Revenue, trailing twelve months
- $432M
- Free cash flow, trailing twelve months
- −$93M
- Net income, trailing twelve months
- −$137M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −41%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.
Diagnostics & Research
Ranks #4 of 29 by Smart Score