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Clinuvel Pharmaceuticals Ltd (CUVL) stock

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NASDAQ: CUVL Nasdaq Biotechnology

B Fundamentals grade

Clinuvel Pharmaceuticals Ltd is a US-listed company in the biotechnology industry. Its financial year ends in June.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$6.0

Valuation models combined (4)

Base case. Range ~$4.2–$7.7. Weighted average of 4 models (price-to-earnings vs peers, residual income, justified price-to-book, revenue-to-maturity model), the price-to-earnings vs peers counting double.

Price vs value

Modestly undervalued

The price is inside our value range, 15% below our base value.

Price used: $5.08, November 3, 2026

Clinuvel Pharmaceuticals Ltd valuation: adjust assumptions and compare models →

The Fundamentalytics view

Clinuvel Pharmaceuticals Ltd's trailing-twelve-month revenue grew 5.2% year on year, with a free-cash-flow margin of 18.4%. Where it stands out: operating margin of 43.4% ranks 8 of 175 biotechnology companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 56.3% while net income grew 0.2%: a 57pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $4.91 is 22% below our value per share of $6.
  • High operating margin. 43.4% of revenue is left as operating profit, against a median of -189.4% for biotechnology companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.0bn.

Things to watch

  • Weak cash conversion. Free cash flow was 51% of net income over the last 12 months.

Price chart

  • 1 day+3.4%
  • 1 week+1.1%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$64.3M
Operating margin
43.4%
Net margin
36.0%
EPS (TTM, diluted)
$0.46

Growth

Revenue growth
+5.2%
Change in growth rate
−0.3 pts
Share count change
+0.7%

Cash

Free cash flow (TTM)
$11.8M
FCF margin
18.4%
Stock pay % of revenue
2.5%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for CUVL from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Clinuvel Pharmaceuticals Ltd valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$6.0
Price used
$5.08close November 3, 2026
Implied change
▲ +18%
Uncertainty
Medium

How we got here: the combined value of 4 valuation models built for a business like Clinuvel Pharmaceuticals Ltd (see the models table below and how they are combined) , with a 9.9% cost of equity. The models span ~$4.2–~$7.7; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Valuation models

We value Clinuvel Pharmaceuticals Ltd 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.

Value per share by model
Model Value per share In the combined value?
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$4.2 ~$3.3–$9.7 Primary model, counts double
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$7.7 ~$5.4–$11 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$7.1 ~$6.2–$8.3 Included
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$6.7 ~$6.1–$7.4 Included
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. — Does not apply: earnings are positive: price-to-earnings is the better measure
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. ~$6.0 ~$4.2–$7.7 4 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Clinuvel Pharmaceuticals Ltd 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.

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.

Forecasts and guidance

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current — — $94m +1%
Next — — $100m +6%

Positioning

Short interest
—
of tradable shares
Days to cover
1.72
at average volume
Short interest, 1 month
−41%
to October 15, 2026
Held by institutions
0%
of shares
Held by insiders
0.0%
of shares

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Clinuvel Pharmaceuticals Ltd in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F. Generated November 3, 2026. Definitions in our methodology.

Where the money goes

FY2026, from the 10-K

Each dollar Clinuvel Pharmaceuticals took in during FY2026, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $64.3M
  2. Other income $4.8M · 7.5%
  3. Cost of revenue $11M · 17.1%
  4. Gross profit $53.3M · 82.9%
  5. Research and development $12.2M · 19.0%
  6. Selling, general and admin $7.4M · 11.5%
  7. Other operating costs $5.8M · 9.0%
  8. Operating income $27.9M · 43.4%
  9. Income tax $9.5M · 14.8%
  10. Net income $23.2M · 36.0%

Shares of revenue. Source: Clinuvel Pharmaceuticals's 10-K for FY2026, as filed with the SEC. "Other" lines are what the reported lines leave unexplained. Other income is income outside operations, such as investment gains.

Financial statements

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

Fiscal year 2024 Jun 2024 2025 Jun 2025 2026 Jun 2026
Income
Revenue 58 61 64
Gross profit 47 50 53
EBITDA 29 27 28
Operating income 29 27 28
Net income 23 23 23
Diluted EPS $0.46 $0.46 $0.46
Growth (year on year)
Revenue — +5.5% +5.2%
EBITDA — −6.9% +4.7%
Operating income — −7.0% +5.3%
Net income — −1.0% +0.2%
Diluted EPS — 0.0% 0.0%
Margins
Gross margin 81.5% 81.2% 82.9%
EBITDA margin 50.1% 44.2% 44.0%
Operating margin 49.3% 43.4% 43.4%
Net margin 40.3% 37.8% 36.0%
Free-cash-flow margin 34.7% 44.3% 18.4%
Cash flow
Cash from operations 24 27 13
Capital spending 4 0 1
Free cash flow 20 27 12
Stock-based pay 4 1 2
Free cash flow after stock pay 16 26 10
Balance sheet
Cash — 18 14
Total debt — 0 0
Net debt (negative = net cash) — −18 −14
Diluted shares 51m 50m 51m
Returned to shareholders
Dividends 2 2 2
Buybacks 0 0 —
Total returned 2 2 2

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $204m
Short-term assets $197mLonger-term assets $7m
What it owes, and who funded it · $204m
Short-term liabilities $13mLonger-term liabilities $2mShareholders' equity $189m
  • Short-term assets cover short-term liabilities $197m of assets due within a year against $13m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $197m short-term assets against $2m 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 Clinuvel Pharmaceuticals 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.

Dividends, buybacks and capital spending

FY2025 Q4 TTM
Buybacks (TTM)
$173,965
Dividends (TTM)
$1.7M
Returned to shareholders
7%
of free cash flow
Diluted share count
+0.7%
year over year
Dividend payout ratio
7%
of net income paid out
R&D spending
19.0%
of revenue
Days sales outstanding
92 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated CUVL ABCL CYTK RXRX NTLA FENC Median
Revenue, last 12 months $64m $66m $68m $68m $60m $59m $56m
Revenue growth, last 12 months 5.2% 101.3% −21.1% 56.2% 12.6% 77.8% 12.6%
Revenue growth, 3-year average — −23.0% 89.5% 12.9% 3.9% 566.5% 13.7%
Revenue growth, latest quarter — −76.3% −57.1% 258.5% −46.2% 85.2% 10.2%
Gross margin 82.9% — — 29.2% 100.0% 94.1% 82.9%
Operating margin 43.4% −340.3% <−999% −725.4% −711.7% −1.9% −189.4%
Operating margin, 3-year average — −667.5% <−999% −995.4% −940.1% −6.3% −363.5%
Net margin 36.0% −248.8% <−999% −697.1% −672.2% −5.5% −169.8%
Cash from operations / revenue 20.1% −143.5% −820.8% −455.1% −582.5% −3.4% −168.0%
Free-cash-flow margin 18.4% −180.8% −858.2% −458.0% −586.0% −3.4% −162.4%
Free-cash-flow margin, 3-year average — −373.0% <−999% −664.1% −738.8% 2.9% −310.0%
Stock pay / revenue 2.5% 77.2% 188.1% 129.4% 114.1% 12.7% 20.0%
Change in share count 0.7% 1.7% 4.9% 32.7% 16.6% 23.6% 8.2%

Median of all 184 companies we cover in biotechnology. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth 5.2% 12.6% 103 of 172
Change in growth rate Growth -0.3pp -0.1pp 87 of 172
Gross margin Profitability 82.9% 82.4% 36 of 75
Operating margin Profitability 43.4% -189.4% 8 of 175
Net margin Profitability 36.0% -157.3% 11 of 180
Free-cash-flow margin Cash generation 18.4% -145.4% 25 of 176
Stock pay as % of revenue Cash generation 2.5% 19.2% 14 of 179
Change in share count Balance sheet 0.7% 7.9% 32 of 156
Days sales outstanding Balance sheet 92 days 75 days 62 of 100

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $0 0 trades by 0 insiders
Net ▲ $0 net buying

No open-market insider trades reported in the last 12 months.

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.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on Clinuvel Pharmaceuticals Ltd was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Clinuvel Pharmaceuticals Ltd in brief

What does Clinuvel Pharmaceuticals Ltd do?
Clinuvel Pharmaceuticals Ltd is a US-listed company in the biotechnology industry. Its financial year ends in June.
What is Clinuvel Pharmaceuticals Ltd's stock ticker?
Clinuvel Pharmaceuticals Ltd trades under the ticker CUVL on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Clinuvel Pharmaceuticals Ltd's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Clinuvel Pharmaceuticals Ltd reported revenue of $64.3M, 5.2% higher than a year earlier, according to its SEC filings.
What is Clinuvel Pharmaceuticals Ltd's free cash flow?
Clinuvel Pharmaceuticals Ltd's free-cash-flow margin is 18.4% of revenue over the trailing twelve months, ranking 25 of the 176 biotechnology companies we cover.
Is Clinuvel Pharmaceuticals Ltd buying back stock, and does it pay a dividend?
Clinuvel Pharmaceuticals Ltd spent $173,965 on share repurchases over the trailing twelve months, and its diluted share count still rose 0.7% over the year.
Does Clinuvel Pharmaceuticals Ltd pay a dividend?
Yes: Clinuvel Pharmaceuticals Ltd paid $1.7M in dividends over the trailing twelve months and a payout ratio of 7.2%.
Who are Clinuvel Pharmaceuticals Ltd's competitors?
In our Biotechnology peer group, the companies closest to Clinuvel Pharmaceuticals Ltd are Abcellera Biologics Inc., Cytokinetics Inc, Recursion Pharmaceuticals, Inc., Intellia Therapeutics, Inc. and Fennec Pharmaceuticals Inc. The side-by-side comparison below sets their revenue, margins and growth against Clinuvel Pharmaceuticals Ltd's.