Apollomics Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
Loading chart…
Third-party market data · may be delayed
~$7.1
Price-to-sales vs peers
Base case. Range ~$7.1–$55. Sales per share times peers' typical price-to-sales; used only when earnings are negative.
No Buy/Hold/Sell rating is issued: only 1 valuation models apply; a rating needs 3.
Apollomics Inc. valuation: adjust assumptions and compare models →
What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.
Revenue for the twelve months was $8m. The diluted share count is up 41.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 0 of our 1 financial-health checks. Our price-to-sales vs peers value is $14.03 a share, against a share price of $20.69.
Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.
Where it stands out: stock pay as % of revenue of -11.5% ranks 1 of 179 biotechnology companies we cover. Where it lags: change in share count of 41.8% ranks 141 of 156 biotechnology companies we cover.
Current signal Free cash flow diverging from earnings: TTM free cash flow grew 64.0% while net income grew 79.7%: a 16pp divergence.
Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.
Loading chart…
Third-party market data · may be delayed
Company announcements, filed results and changes that matter to shareholders.
We value Apollomics Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.9%: the 10-year Treasury yield (4.9%) plus a beta of 1.1 times a 4.5% equity risk premium.
| Model | Value per share | In the combined value? |
|---|---|---|
| Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. | — | Does not apply: no positive earnings in the latest twelve months |
| Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. | — | Does not apply: book value or earnings not available |
| Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. | — | Does not apply: return on equity is not positive |
| Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. | — | Does not apply: revenue and margins don't support a positive value |
| Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. | ~$7.1 ~$16–$55 | Included, half weight |
| Combined value Weighted average of the models that apply: the primary model (price-to-earnings vs peers) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. | ~$7.1 ~$7.1–$55 | 1 model |
Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Apollomics Inc. with Biotechnology in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.
Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.
No analyst estimates are published for Apollomics Inc.: too few analysts cover it.
Source: SEC EDGAR filings. Retrieved November 2, 2026.
| Period | Revenue (TTM) |
|---|---|
| FY20 Q4 | $0 |
| FY21 Q4 | $0 |
| FY22 Q4 | $0 |
| FY23 Q4 | $0 |
| FY24 Q4 | $0 |
| FY25 Q4 | $8.5M |
| Fiscal year | 2020 Dec 2020 | 2021 Dec 2021 | 2022 Dec 2022 | 2023 Dec 2023 | 2024 Dec 2024 | 2025 Dec 2025 |
|---|---|---|---|---|---|---|
| Income | ||||||
| Revenue | 0 | 0 | 0 | 0 | 0 | 9 |
| Operating income | — | — | 1 | — | — | — |
| Net income | −75 | −95 | −241 | −173 | −54 | −11 |
| Diluted EPS | −$21.00 | −$337.00 | −$844.95 | −$231.99 | −$52.80 | −$7.57 |
| Margins | ||||||
| Net margin | — | — | — | — | — | −128.7% |
| Free-cash-flow margin | — | — | — | — | — | −122.0% |
| Cash flow | ||||||
| Cash from operations | −36 | −43 | −43 | −43 | −29 | −10 |
| Capital spending | 0 | 0 | 0 | 0 | 0 | 0 |
| Free cash flow | −36 | −43 | −43 | −43 | −29 | −10 |
| Stock-based pay | 5 | 8 | 4 | 13 | 11 | −1 |
| Free cash flow after stock pay | −40 | −51 | −47 | −56 | −40 | −9 |
| Balance sheet | ||||||
| Cash | 131 | 47 | 33 | 32 | 10 | 3 |
| Total debt | 0 | 0 | 0 | 4 | 0 | 0 |
| Net debt (negative = net cash) | −131 | −47 | −33 | −28 | −10 | −3 |
| Diluted shares | 4m | — | — | — | 1m | 1m |
| Last 12 months unless stated | APLM | ACRS | COYA | ADAG | ROIV | EVAX | Median |
|---|---|---|---|---|---|---|---|
| Revenue, last 12 months | $9m | $8m | $8m | $8m | $8m | $8m | $56m |
| Revenue growth, last 12 months | — | −51.0% | >999% | >999% | −67.6% | 125.1% | 12.6% |
| Revenue growth, 3-year average | — | −35.9% | — | — | −46.4% | — | 13.7% |
| Revenue growth, latest quarter | — | −8.3% | 49.0% | — | −33.5% | — | 10.2% |
| Operating margin | — | <−999% | −288.7% | −279.5% | <−999% | −122.7% | −189.4% |
| Operating margin, 3-year average | — | −711.4% | <−999% | — | −102.3% | — | −363.5% |
| Net margin | −128.7% | −921.5% | −270.2% | −229.6% | <−999% | −102.4% | −169.8% |
| Cash from operations / revenue | −122.0% | −755.1% | −196.1% | −204.1% | <−999% | −88.0% | −168.0% |
| Free-cash-flow margin | −122.0% | −756.5% | −196.3% | −204.3% | <−999% | −88.2% | −162.4% |
| Free-cash-flow margin, 3-year average | — | −339.9% | <−999% | — | <−999% | — | −310.0% |
| Stock pay / revenue | −11.5% | 141.8% | 66.3% | 48.8% | >999% | 4.1% | 20.0% |
| Change in share count | 41.8% | 25.5% | 22.4% | 4.8% | 0.6% | 497.3% | 8.2% |
| Measure | Company | Peer median | Rank |
|---|---|---|---|
| Net margin Profitability | -128.7% | -157.3% | 84 of 180 |
| Free-cash-flow margin Cash generation | -122.0% | -145.4% | 85 of 176 |
| Stock pay as % of revenue Cash generation | -11.5% | 19.2% | 1 of 179 |
| Change in share count Balance sheet | 41.8% | 7.9% | 141 of 156 |
Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).
| Manager | Value | Shares | Share of 13F value | Shares QoQ |
|---|---|---|---|---|
| Citadel Advisors LLC | $223,517 | 11K | 99.9% | New |
| Sbi Securities Co., Ltd. | $189 | 0K | 0.1% | 0.0% |
| UBS Group AG | $42 | 0K | 0.0% | ▼ 98.6% |
| Blackrock, Inc. | $21 | 0K | 0.0% | 0.0% |
From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Apollomics Inc.'s complete shareholder register. Values are as reported by the filers .
| Insider | Date | Trade | Shares | Price | Value |
|---|---|---|---|---|---|
| Chen Hung-Wen Chief Executive Officer | August 14, 2026 | Buy | 103,333 | $15.00 | $1.5M |
| Chen Hung-Wen Chief Executive Officer | August 14, 2026 | Buy | 166,667 | $12.00 | $2M |
| Chen Hung-Wen Chief Executive Officer | August 14, 2026 | Buy | 266,667 | $15.00 | $4M |
| Lin Peter Kuan-How Chief Financial Officer | August 14, 2026 | Buy | 26,667 | $15.00 | $400,005 |
| Chen Yi-Kuei Chief Operating Officer | August 14, 2026 | Buy | 20,000 | $15.00 | $300,000 |
From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.
| Data | Last updated | Source |
|---|---|---|
| Share price | Exchange closing prices | |
| News and updates | Company releases and SEC 8-K filings | |
| Analyst estimates | Aggregated analyst estimates | |
| Valuation and scores | Our models, from the filed figures |
New research on the companies we cover arrives in the weekly email. Free, one email a week.
