Virax Biolabs Group Ltd key statistics and ratios

In fiscal 2026, Virax Biolabs Group Ltd had return on equity of -75.7%, an operating margin of -51515.2%, debt equal to 0.0% of equity and a current ratio of 9.97. 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.

Virax Biolabs Group Ltd: financial ratios, annual
Fiscal year	2021Mar 2021	2022Mar 2022	2023Mar 2023	2024Mar 2024	2025Mar 2025	2026Mar 2026
Gross margin	−7.6%	—	−15.9%	32.3%	—	61.9%
Operating margin	−520.5%	—	<−999%	<−999%	<−999%	<−999%
Net margin	−525.8%	—	<−999%	<−999%	<−999%	<−999%
Free-cash-flow margin	—	—	—	<−999%	<−999%	<−999%
Return on equity	—	—	−133.9%	−92.9%	−109.6%	−75.7%
Return on assets	<−999%	<−999%	−110.7%	−88.0%	−101.8%	−68.1%
Asset turnover	3.13	—	0.00	0.02	0.00	0.00
Current ratio	0.05	0.04	10.61	25.94	7.27	9.97
Debt to equity	—	—	0.0%	0.0%	0.0%	0.0%
Interest cover (operating income ÷ interest)	—	—	—	n/m	n/m	n/m
R&D as % of revenue	97.1%	—	>999%	>999%	>999%	>999%
Capital spending as % of revenue	—	—	—	608.9%	>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

2 of 3 checks passed · March 31, 2026

What it owns · $8m

Short-term assets $7mLonger-term assets $1m

What it owes, and who funded it · $9m

Short-term liabilities $1mLonger-term liabilities $0mShareholders' equity $8m

Short-term assets cover short-term liabilities $7m of assets due within a year against $685,024 of liabilities due within a year.
Short-term assets cover long-term liabilities $7m short-term assets against $304,808 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 −$6m against $59,777 of interest.

From Virax Biolabs Group 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.

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 Virax Biolabs Group Ltd'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 Virax Biolabs Group Ltd.