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Celularity Inc key statistics and ratios

In fiscal 2025, Celularity Inc had an operating margin of -230.9% and a current ratio of 0.15. 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.

Fiscal year2020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Gross margin65.5%54.8%−9.4%29.7%72.4%24.4%19.2%
Operating margin<−999%−511.2%−142.4%−844.4%−70.7%−230.9%−264.3%
Net margin<−999%−469.3%79.0%−862.0%−106.8%−345.4%−245.7%
Free-cash-flow margin−637.5%−545.1%−796.2%−174.5%−12.1%−49.9%−47.8%
Return on equity——9.5%−163.7%———
Return on assets−48.3%−23.7%3.5%−72.0%−41.9%−76.4%−45.1%
Asset turnover0.030.050.040.080.390.220.18
Current ratio2.712.250.540.290.380.150.11
Debt to equity—0.0%18.9%137.4%0.0%——
Effective tax rate——0.1%————
R&D as % of revenue369.1%414.1%436.0%133.8%32.1%56.6%69.5%
SG&A as % of revenue219.5%334.4%367.3%222.1%108.2%193.1%206.1%
Capital spending as % of revenue194.9%29.1%29.1%4.6%0.3%0.0%0.0%
Free cash flow ÷ net income——<−999%————

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

0 of 2 checks passed · June 30, 2026
What it owns · $96m
Short-term assets $6mLonger-term assets $90m
What it owes, and who funded it · $132m
Short-term liabilities $60mLonger-term liabilities $72mShareholders' equity $-36m
  • Short-term assets cover short-term liabilities $6m of assets due within a year against $60m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $6m short-term assets against $72m 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 Interest not separately reported. Not assessable.

From Celularity Inc'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

18 /100

Weak moat

How hard Celularity's competitive advantage looks for rivals to wear away, judged from 7 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Net income has been a median -47.7% of total assets over 7 years.

  • Pricing power 9 / 20

    Gross margin has been a median 49.4%, moving by 23.0 percentage points (standard deviation) across 6 years.

  • Durability 10 / 20

    Operating margin has been a median -253.3%; its worst year was -792.9%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 5 years, at a median -80.1% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (24 before it).

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

Compare with peers

Head to head: CELU vs CTMXCELU vs SCYXCELU vs PRQR

More: Biotechnology stocks compared, Health Care sector, rankings of US companies

Figures from Celularity Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Celularity Inc.