Adlai Nortye Group Ltd. key statistics and ratios

In fiscal 2025, Adlai Nortye Group Ltd. had return on equity of -106.5%, an operating margin of -714.0% and a current ratio of 0.65. 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.

Adlai Nortye Group Ltd.: financial ratios, annual
Fiscal year	2021Dec 2021	2023Dec 2023	2025Dec 2025
Operating margin	−18.9%	<−999%	−714.0%
Net margin	−124.0%	<−999%	−710.6%
Free-cash-flow margin	−8.9%	<−999%	−672.8%
Return on equity	—	—	−106.5%
Return on assets	—	−83.9%	−43.2%
Asset turnover	—	0.04	0.06
Current ratio	—	2.04	0.65
Debt to equity	—	40.5%	—
Interest cover (operating income ÷ interest)	n/m	n/m	n/m
R&D as % of revenue	92.1%	>999%	656.7%
Capital spending as % of revenue	2.2%	4.0%	3.7%

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

1 of 3 checks passed · December 31, 2025

What it owns · $34m

Short-term assets $27mLonger-term assets $8m

What it owes, and who funded it · $43m

Short-term liabilities $42mLonger-term liabilities $1mShareholders' equity $-8m

Short-term assets cover short-term liabilities $27m of assets due within a year against $42m of liabilities due within a year.
Short-term assets cover long-term liabilities $27m short-term assets against $1m of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of −$36m against $42,000 of interest.

From Adlai Nortye Group 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 Adlai Nortye Group 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 Adlai Nortye Group Ltd.