COMPASS Pathways plc
CMPSHealthcare|Biotechnology|GB
$8.61
+0.80 (+10.24%)
DCF Value
$1.38
Tangible Book / Share
$1.02
Cash / Share
$3.20
Financials
Financial Snapshot
Market Cap
$1.22B
Enterprise Value
$828.9M
Revenue (TTM)
$0.00
Net Income (TTM)
-$266.3M
Cash & Investments
$444.0M
Net Cash
$389.6M
Free Cash Flow (TTM)
-$176.8M
Operating CF (TTM)
-$176.8M
Debt/Equity
0.38
Cash Runway & Burn Rate
Cash on Hand
$444.0M
Quarterly Burn
$44.2M
Monthly Burn
$14.7M
Est. Runway
~10.0 quarters
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $22.9M | $25.0M | $190.3M | $273.2M | $143.2M | $220.2M | $165.1M | $149.6M | $444.0M | |
| Operating Cash Flow | -$9.8M | -$17.8M | -$41.4M | -$67.7M | -$105.5M | -$97.4M | -$119.2M | -$157.2M | -$176.8M | |
| Free Cash Flow | -$9.9M | -$18.0M | -$41.5M | -$68.1M | -$106.0M | -$97.4M | -$119.2M | -$157.2M | -$176.8M | |
| Capital Expenditure | -$130.0K | -$165.0K | -$131.0K | -$334.0K | -$596.0K | -$66.0K | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $33.0M | $18.4M | $194.2M | $156.6M | $1.0M | $173.8M | $63.8M | $140.7M | $433.3M |
R&D Spending
R&D (TTM)
$109.0M
R&D Intensity
—
R&D Growth vs Prior
-8.0%
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $8.9M | $12.6M | $23.4M | $44.0M | $65.1M | $87.5M | $119.0M | $118.4M | $109.0M | |
| SG&A | $3.6M | $8.6M | $28.0M | $39.2M | $45.4M | $49.4M | $59.2M | $60.6M | $88.6M |
Income Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $63.0K | $112.9K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | -$63.0K | -$112.9K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $8.9M | $12.6M | $23.4M | $44.0M | $65.1M | $87.5M | $119.0M | $118.4M | $109.0M | |
| SG&A | $3.6M | $8.6M | $28.0M | $39.2M | $45.4M | $49.4M | $59.2M | $60.6M | $88.6M | |
| Operating Income | -$12.5M | -$21.2M | -$51.8M | -$83.2M | -$110.4M | -$136.9M | -$178.2M | -$179.0M | -$197.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.2M | $4.5M | $4.5M | $5.6M | |
| Pretax Income | -$13.2M | -$19.6M | -$65.0M | -$71.5M | -$91.1M | -$117.7M | -$153.5M | -$290.3M | -$269.8M | |
| Net Income | -$13.2M | -$19.6M | -$60.8M | -$71.7M | -$91.5M | -$118.5M | -$155.1M | -$287.9M | -$266.3M | |
| EPS (Diluted) | -2.35 | -0.90 | -1.68 | -1.79 | -2.16 | -2.32 | -2.30 | -3.08 | -4.44 | |
| EBITDA | -$10.5M | -$22.3M | -$64.9M | -$71.4M | -$90.8M | -$115.2M | -$148.8M | -$285.6M | -$264.2M | |
| Shares Out. (M) | 5.62 | 21.72 | 35.93 | 40.00 | 42.44 | 51.03 | 67.48 | 93.50 | 162.57 |
Balance Sheet
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $22.9M | $25.0M | $190.3M | $273.2M | $143.2M | $220.2M | $165.1M | $149.6M | $444.0M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $26.3M | $32.2M | $202.4M | $295.3M | $191.7M | $261.3M | $201.3M | $191.5M | $487.5M | |
| Total Assets | $26.4M | $32.4M | $203.5M | $300.9M | $197.3M | $276.0M | $213.7M | $210.3M | $519.1M | |
| Total Current Liabilities | $1.8M | $23.9M | $6.9M | $15.1M | $15.6M | $19.6M | $34.0M | $247.8M | $325.9M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $28.8M | $24.7M | $1.3M | $49.6M | |
| Total Liabilities | $40.8M | $23.9M | $6.9M | $16.5M | $16.0M | $50.2M | $59.0M | $263.2M | $377.0M | |
| Stockholders' Equity | -$14.4M | $8.5M | $196.6M | $284.4M | $181.3M | $225.7M | $154.7M | -$52.8M | $142.1M | |
| Retained Earnings | -$18.0M | -$37.6M | -$97.9M | -$169.6M | -$261.1M | -$379.6M | -$534.7M | -$822.6M | -$995.0M |
Cash Flow Statement
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$9.8M | -$17.8M | -$41.4M | -$67.7M | -$105.5M | -$97.4M | -$119.2M | -$157.2M | -$176.8M | |
| Capital Expenditure | -$130.0K | -$165.0K | -$131.0K | -$334.0K | -$596.0K | -$66.0K | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$9.9M | -$18.0M | -$41.5M | -$68.1M | -$106.0M | -$97.4M | -$119.2M | -$157.2M | -$176.8M | |
| Investing Cash Flow | -$130.0K | -$165.0K | -$628.0K | -$334.0K | -$596.0K | -$64.0K | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $33.0M | $18.4M | $194.2M | $156.6M | $1.0M | $173.8M | $63.8M | $140.7M | $433.3M | |
| Issuance of Stock | $0.00 | $0.00 | $132.8M | $154.8M | $440.0K | $144.9M | $26.2M | $141.0M | $414.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $8.3M | $18.4M | $0.00 | $0.00 | $0.00 | $29.6M | $0.00 | $0.00 | -$3.0K | |
| Stock Based Comp. | $1.4M | $3.3M | $18.0M | $8.6M | $13.1M | $17.3M | $19.5M | $13.6M | $14.2M | |
| Net Change in Cash | $21.9M | $2.1M | $165.4M | $83.0M | -$130.0M | $77.3M | -$55.2M | -$15.5M | $258.1M |
Dilution Tracker
Shares outstanding grew 160.2% over 5 years — significant dilution
Shares Outstanding
142M
5-Year Share Growth
+160.2%
Stock Issuance (TTM)
$414.8M
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 5.62 | 21.72 | 35.93 | 40.00 | 42.44 | 51.03 | 67.48 | 93.50 | 162.57 | |
| Change vs Prior % | — | 286.6% | 65.4% | 11.3% | 6.1% | 20.2% | 32.2% | 38.6% | 73.9% | |
| Stock Issuance | $0.00 | $0.00 | $132.8M | $154.8M | $440.0K | $144.9M | $26.2M | $141.0M | $414.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $1.4M | $3.3M | $18.0M | $8.6M | $13.1M | $17.3M | $19.5M | $13.6M | $14.2M |
Margins & Profitability
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | 92.0% | -230.2% | -30.9% | -25.2% | -50.5% | -52.5% | -100.3% | 544.7% | -212.9% | |
| ROA % | -50.1% | -60.6% | -29.9% | -23.8% | -46.4% | -42.9% | -72.6% | -136.8% | -51.3% | |
| ROIC % | -50.9% | -71.5% | -24.6% | -28.9% | -60.3% | -52.9% | -95.4% | 996.5% | -99.3% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | -79.2% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -69.4% | -144.5% | -60.7% | -32.7% | -24.0% | -30.2% | -0.5% | |
| Net Income | 0.0% | -48.4% | -210.0% | -18.0% | -27.5% | -29.5% | -30.9% | -85.6% | |
| EPS (Diluted) | 0.0% | 61.7% | -86.7% | -6.5% | -20.7% | -7.4% | 0.9% | -33.9% | |
| Operating Cash Flow | 0.0% | -81.7% | -132.3% | -63.7% | -55.7% | 7.7% | -22.4% | -31.9% | |
| Free Cash Flow | 0.0% | -81.0% | -130.9% | -64.0% | -55.8% | 8.1% | -22.3% | -31.9% | |
| R&D Expense | 0.0% | 40.9% | 86.0% | 88.4% | 47.8% | 34.5% | 36.0% | -0.5% | |
| SG&A Expense | 0.0% | 140.3% | 225.3% | 39.8% | 15.7% | 8.9% | 19.8% | 2.4% | |
| Total Assets | 0.0% | 22.8% | 528.2% | 47.9% | -34.4% | 39.9% | -22.6% | -1.6% | |
| Book Value / Share | 0.0% | 115.3% | 1295.2% | 30.0% | -39.9% | 3.6% | -48.2% | -124.7% | |
| Debt | 0.0% | 0.0% | -100.0% | 0.0% | -46.7% | 1614.2% | -2.6% | -35.0% | |
| Diluted Shares | 0.0% | 286.6% | 65.4% | 11.3% | 6.1% | 20.2% | 32.2% | 38.6% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B8.41
10Y Low / Med / High1.65 / 3.11 / 73.96
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.38
Tangible Book / Share
$1.02
Net Current Assets / Share
$0.78
Graham Net-Net
$0.48
Cash / Share
$3.20
| Metric | Trend | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -12.34 | -32.22 | -28.36 | -12.35 | -3.72 | -3.77 | -1.64 | -2.24 | -2.05 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | -11.34 | 73.96 | 8.71 | 3.11 | 1.88 | 1.98 | 1.65 | -12.21 | 8.41 | |
| EV/EBITDA | -13.32 | -28.12 | -23.43 | -8.61 | -2.20 | -2.25 | -0.82 | -1.81 | -3.14 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-2.05
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $2.0M | $30.7M | $202.0M |
| Net Income | -$180.0M | -$219.7M | -$181.2M |
| EPS | $-1.82 | $-1.60 | $-1.01 |
| # Analysts (EPS) | 7 | 8 | 11 |