Nanobiotix S.a. key statistics and ratios

In fiscal 2025, Nanobiotix S.a. had an operating margin of -33.2% and a current ratio of 1.09. 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.

Nanobiotix S.a.: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Operating margin	−864.2%	<−999%	<−999%	<−999%	−977.8%	−74.0%	—	−33.2%
Net margin	−872.2%	<−999%	<−999%	<−999%	<−999%	−109.6%	—	−73.5%
Free-cash-flow margin	−758.9%	<−999%	<−999%	<−999%	−778.8%	−35.4%	—	−104.2%
Return on equity	—	—	−91.2%	−95.6%	—	—	—	—
Return on assets	−60.7%	−93.3%	−33.8%	−39.9%	−67.1%	−51.2%	−84.9%	−36.3%
Asset turnover	0.07	0.05	0.03	0.02	0.06	0.47	—	0.49
Current ratio	3.50	3.22	6.58	2.53	1.38	1.75	1.04	1.09
Debt to equity	—	—	0.0%	0.0%	—	—	—	—
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	600.5%	>999%	968.6%	>999%	683.3%	106.0%	—	70.9%
Capital spending as % of revenue	12.0%	42.9%	3.8%	8.6%	1.9%	0.9%	—	1.7%

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 3 checks passed · December 31, 2025

What it owns · $80m

Short-term assets $74mLonger-term assets $6m

What it owes, and who funded it · $179m

Short-term liabilities $67mLonger-term liabilities $111mShareholders' equity $-99m

Short-term assets cover short-term liabilities $74m of assets due within a year against $67m of liabilities due within a year.
Short-term assets cover long-term liabilities $74m short-term assets against $111m 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 −$12m against $146,981 of interest.

From Nanobiotix S.a.'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 Nanobiotix S.a.'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 Nanobiotix S.a.