Molecular Partners AG key statistics and ratios

In fiscal 2025, Molecular Partners AG had return on equity of -57.8%, debt equal to 0.0% of equity and a current ratio of 8.79. 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.

Molecular Partners AG: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	−179.9%	−624.2%	−650.2%	61.5%	−868.3%	<−999%	—
Net margin	−178.0%	−671.7%	−653.9%	62.2%	−880.7%	<−999%	—
Free-cash-flow margin	−10.9%	−325.7%	−942.0%	61.9%	−846.5%	<−999%	—
Return on equity	−65.3%	−75.5%	−58.5%	66.4%	−29.7%	−33.5%	−57.8%
Return on assets	—	−31.5%	−34.8%	52.3%	−26.6%	−29.9%	−49.0%
Asset turnover	—	0.05	0.05	0.84	0.03	0.03	—
Current ratio	—	3.08	3.50	14.77	13.35	14.31	8.79
Debt to equity	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	—	n/m	n/m	n/m
Effective tax rate	—	—	—	0.0%	—	—	—
R&D as % of revenue	213.4%	600.1%	571.2%	26.8%	693.2%	977.9%	—
Capital spending as % of revenue	5.1%	15.5%	9.6%	0.6%	8.2%	14.2%	—
Free cash flow ÷ net income	—	—	—	99.6%	—	—	—
Dividends and buybacks ÷ free cash flow	—	—	—	0.5%	—	—	—

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

2 of 3 checks passed · December 31, 2025

What it owns · $129m

Short-term assets $122mLonger-term assets $7m

What it owes, and who funded it · $129m

Short-term liabilities $14mLonger-term liabilities $14mShareholders' equity $101m

Short-term assets cover short-term liabilities $122m of assets due within a year against $14m of liabilities due within a year.
Short-term assets cover long-term liabilities $122m short-term assets against $14m 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 −$70m against $21,727 of interest.

From Molecular Partners AG'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 Molecular Partners AG's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Molecular Partners AG.