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Seres Therapeutics, Inc. key statistics and ratios

In fiscal 2025, Seres Therapeutics, Inc. had return on equity of 19.6% and a net margin of 721.9%. 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 year2015Dec 20152016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin—−420.7%−278.4%−350.0%−203.7%−268.3%−45.2%<−999%——721.9%<−999%
Return on equity−26.7%−54.2%−92.5%——−141.0%−42.8%———19.6%−57.0%
Return on assets−25.3%−37.4%−38.7%−63.8%−55.6%−37.5%−18.8%−71.1%−32.2%0.1%4.1%−18.7%
R&D as % of revenue—376.7%278.7%339.5%232.3%272.7%97.9%>999%——>999%>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

1 of 2 checks passed · June 30, 2026
What it owns · $102m
Short-term assets $42mLonger-term assets $59m
What it owes, and who funded it · $102m
Short-term liabilities $20mLonger-term liabilities $47mShareholders' equity $35m
  • Short-term assets cover short-term liabilities $42m of assets due within a year against $20m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $42m short-term assets against $47m 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 Seres Therapeutics, 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

10 /100

Weak moat

How hard Seres Therapeutics's competitive advantage looks for rivals to wear away, judged from 10 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 -47.1% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -267.5%; its worst year was -4462.8%.

  • Cash conversion 2 / 20

    Free cash flow was positive in 2 of 10 years, at a median -184.9% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 162.5% over five years; stock-based pay has been a median 38.3% 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 (15 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

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Figures from Seres Therapeutics, 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 Seres Therapeutics, Inc.