Addex Therapeutics Ltd. key statistics and ratios

In fiscal 2025, Addex Therapeutics Ltd. had return on equity of -97.4%, an operating margin of -9390.8%, debt equal to 0.0% of equity and a current ratio of 1.40. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Addex Therapeutics Ltd.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	−23.6%	−528.6%	−338.9%	−531.7%	−741.0%	−139.1%	−681.8%	<−999%
Net margin	−27.2%	−535.0%	−355.9%	−526.4%	<−999%	−654.5%	>999%	<−999%
Free-cash-flow margin	28.8%	−344.2%	−338.8%	−505.3%	<−999%	−495.9%	<−999%	<−999%
Return on equity	−4.2%	−44.9%	−63.9%	−95.9%	−183.0%	—	133.2%	−97.4%
Return on assets	−3.9%	−38.6%	−48.1%	−70.7%	−129.7%	−162.3%	92.7%	−82.1%
Asset turnover	0.14	0.07	0.14	0.13	0.09	0.25	0.05	0.00
Current ratio	18.06	5.70	5.38	5.31	2.39	1.46	4.42	1.40
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	81.4%	450.8%	287.1%	440.3%	579.6%	73.6%	211.4%	>999%
Capital spending as % of revenue	0.1%	1.0%	1.6%	1.1%	0.0%	0.4%	0.3%	0.0%
Free cash flow ÷ net income	—	—	—	—	—	—	−76.2%	—

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

5 of 6 checks passed · December 31, 2025

What it owns · $8m

Short-term assets $2mLonger-term assets $6m

What it owes, and who funded it · $8m

Short-term liabilities $2mShareholders' equity $6m

Short-term assets cover short-term liabilities $2m of assets due within a year against $2m of liabilities due within a year.
Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
More cash than debt $2m of cash against $0 of debt.
Debt below 40% of shareholders' equity Debt is 0% of equity.
Debt burden no higher than five years ago Debt to equity moved from 0% to 0% over five years.
A year's operating cash flow covers at least 20% of debt No debt to cover.
Operating profit covers interest at least five times over Operating income of −$3m against $588 of interest.

From Addex Therapeutics Ltd.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Addex Therapeutics Ltd.'s SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Addex Therapeutics Ltd.