Fractyl Health, Inc.
GUTSHealthcare|Biotechnology|US
$0.93
+0.03 (+3.80%)
DCF Value
$1.44
Cash / Share
$3.57
Financials
Financial Snapshot
Market Cap
$12.3M
Enterprise Value
$25.9M
Revenue (TTM)
$0.00
Net Income (TTM)
-$105.7M
Cash & Investments
$47.1M
Net Cash
-$13.6M
Free Cash Flow (TTM)
-$82.4M
Operating CF (TTM)
-$82.4M
Debt/Equity
-36.48
Cash Runway & Burn Rate
Cash on Hand
$47.1M
Quarterly Burn
$20.6M
Monthly Burn
$6.9M
Est. Runway
~2.3 quarters
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $5.8M | $29.1M | $95.5M | $49.3M | $33.5M | $67.5M | $81.5M | $47.1M | |
| Operating Cash Flow | -$27.7M | -$31.1M | -$33.5M | -$46.2M | -$42.8M | -$65.5M | -$90.3M | -$82.4M | |
| Free Cash Flow | -$27.8M | -$31.1M | -$33.5M | -$46.3M | -$43.2M | -$67.3M | -$90.9M | -$82.4M | |
| Capital Expenditure | -$97.0K | -$2.0K | -$51.0K | -$56.0K | -$359.0K | -$1.8M | -$557.0K | -$11.0K | |
| Financing Cash Flow | $15.2M | $54.4M | $99.9M | $4.3M | $27.4M | $101.2M | $105.0M | $107.3M |
R&D Spending
R&D (TTM)
$63.4M
R&D Intensity
—
R&D Growth vs Prior
-15.0%
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $120.0K | $93.0K | $0.00 | $0.00 | |
| R&D Expense | $20.9M | $22.4M | $26.4M | $34.4M | $38.0M | $70.5M | $74.5M | $63.4M | |
| R&D % of Revenue | — | — | — | — | 31698.3% | 75775.3% | — | — | |
| SG&A | $8.1M | $5.8M | $10.5M | $14.6M | $0.00 | $0.00 | $22.3M | $22.5M |
Income Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $120.0K | $93.0K | $0.00 | $0.00 | |
| Cost of Revenue | $893.0K | $770.0K | $0.00 | $452.0K | $77.0K | $50.0K | $0.00 | $0.00 | |
| Gross Profit | -$893.0K | -$770.0K | $0.00 | -$452.0K | $43.0K | $43.0K | $0.00 | $0.00 | |
| R&D | $20.9M | $22.4M | $26.4M | $34.4M | $38.0M | $70.5M | $74.5M | $63.4M | |
| SG&A | $8.1M | $5.8M | $10.5M | $14.6M | $0.00 | $0.00 | $22.3M | $22.5M | |
| Operating Income | -$29.9M | -$29.0M | -$36.9M | -$49.4M | -$50.8M | -$93.5M | -$96.8M | -$85.9M | |
| Interest Expense | $635.0K | $1.5M | $1.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | -$30.6M | -$30.5M | -$38.7M | -$46.5M | -$77.1M | -$68.7M | -$141.0M | -$105.7M | |
| Net Income | -$30.6M | -$30.5M | -$38.7M | -$46.5M | -$77.1M | -$68.7M | -$141.0M | -$105.7M | |
| EPS (Diluted) | -7.68 | -10.32 | -13.44 | -16.08 | -23.76 | -19.44 | -11.04 | -13.20 | |
| EBITDA | -$29.0M | -$28.2M | -$36.6M | -$46.0M | -$76.8M | -$68.0M | -$139.8M | -$104.5M | |
| Shares Out. (M) | 3.97 | 3.97 | 3.97 | 3.97 | 3.97 | 3.63 | 12.78 | 13.22 |
Balance Sheet
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $5.8M | $29.1M | $95.5M | $49.3M | $33.5M | $67.5M | $81.5M | $47.1M | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $6.8M | $30.9M | $96.4M | $51.6M | $35.6M | $71.8M | $87.6M | $49.6M | |
| Total Assets | $8.9M | $34.8M | $102.5M | $61.0M | $76.2M | $108.1M | $121.4M | $82.0M | |
| Total Current Liabilities | $3.4M | $10.9M | $23.7M | $7.3M | $11.2M | $19.8M | $18.3M | $15.7M | |
| Long-Term Debt | $14.9M | $8.1M | $287.3M | $305.1M | $342.5M | $30.2M | $30.6M | $30.4M | |
| Total Liabilities | $152.9M | $19.8M | $311.9M | $313.3M | $401.3M | $79.7M | $111.9M | $83.6M | |
| Stockholders' Equity | -$144.0M | $15.0M | -$209.3M | -$252.3M | -$325.1M | $28.4M | $9.5M | -$1.7M | |
| Retained Earnings | -$153.9M | -$184.3M | -$223.1M | -$269.5M | -$346.6M | -$415.3M | -$556.3M | -$572.6M |
Cash Flow Statement
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$27.7M | -$31.1M | -$33.5M | -$46.2M | -$42.8M | -$65.5M | -$90.3M | -$82.4M | |
| Capital Expenditure | -$97.0K | -$2.0K | -$51.0K | -$56.0K | -$359.0K | -$1.8M | -$557.0K | -$11.0K | |
| Free Cash Flow | -$27.8M | -$31.1M | -$33.5M | -$46.3M | -$43.2M | -$67.3M | -$90.9M | -$82.4M | |
| Investing Cash Flow | -$97.0K | -$2.0K | -$51.0K | -$56.0K | -$359.0K | -$1.8M | -$557.0K | -$11.0K | |
| Financing Cash Flow | $15.2M | $54.4M | $99.9M | $4.3M | $27.4M | $101.2M | $105.0M | $107.3M | |
| Issuance of Stock | $217.0K | $0.00 | $0.00 | $321.0K | $0.00 | $103.7M | $105.4M | $107.8M | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $14.9M | -$7.0K | -$7.0K | $4.0M | $28.3M | -$187.0K | -$457.0K | -$486.0K | |
| Stock Based Comp. | $2.5M | $1.6M | $2.1M | $3.1M | $4.3M | $14.4M | $6.7M | $8.5M | |
| Net Change in Cash | -$12.7M | $23.3M | $66.4M | -$46.2M | -$15.7M | $33.9M | $14.1M | $24.8M |
Dilution Tracker
Shares outstanding grew 222.2% over 5 years — significant dilution
Shares Outstanding
13M
5-Year Share Growth
+222.2%
Stock Issuance (TTM)
$107.8M
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 3.97 | 3.97 | 3.97 | 3.97 | 3.97 | 3.63 | 12.78 | 13.22 | |
| Change vs Prior % | — | 0.0% | 0.0% | 0.0% | 0.0% | -8.5% | 252.2% | 3.4% | |
| Stock Issuance | $217.0K | $0.00 | $0.00 | $321.0K | $0.00 | $103.7M | $105.4M | $107.8M | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.5M | $1.6M | $2.1M | $3.1M | $4.3M | $14.4M | $6.7M | $8.5M |
Margins & Profitability
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | — | — | 35.8% | 46.2% | — | — | |
| Operating Margin % | — | — | — | — | -42363.3% | -100571.0% | — | — | |
| Net Margin % | — | — | — | — | -64242.5% | -73864.5% | — | — | |
| EBITDA Margin % | — | — | — | — | -64004.2% | -73136.6% | — | — | |
| FCF Margin % | — | — | — | — | -35985.0% | -72350.5% | — | — | |
| ROE % | 21.2% | -203.9% | 18.5% | 18.4% | 23.7% | -241.7% | -1490.3% | -1625.9% | |
| ROA % | -342.4% | -87.7% | -37.8% | -76.2% | -101.2% | -63.6% | -116.1% | -128.9% | |
| ROIC % | -541.3% | -93.4% | -38.6% | -90.0% | -75.0% | -100.3% | -89.5% | -120.3% | |
| R&D / Revenue % | — | — | — | — | 31698.3% | 75775.3% | — | — |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -22.5% | -100.0% | |
| Gross Profit | 0.0% | 13.8% | 100.0% | 0.0% | 109.5% | 0.0% | -100.0% | |
| Operating Income | 0.0% | 3.2% | -27.5% | -33.7% | -2.9% | -84.0% | -3.5% | |
| Net Income | 0.0% | 0.4% | -27.1% | -19.9% | -66.0% | 10.9% | -105.2% | |
| EPS (Diluted) | 0.0% | -34.4% | -30.2% | -19.6% | -47.8% | 18.2% | 43.2% | |
| Operating Cash Flow | 0.0% | -12.1% | -7.7% | -38.2% | 7.4% | -53.0% | -37.9% | |
| Free Cash Flow | 0.0% | -11.7% | -7.8% | -38.2% | 6.7% | -55.8% | -35.1% | |
| R&D Expense | 0.0% | 7.4% | 17.8% | 30.0% | 10.7% | 85.3% | 5.8% | |
| SG&A Expense | 0.0% | -29.3% | 82.2% | 38.9% | -100.0% | 0.0% | 0.0% | |
| Total Assets | 0.0% | 289.1% | 195.0% | -40.6% | 25.0% | 41.8% | 12.3% | |
| Book Value / Share | 0.0% | 110.4% | -1500.1% | -20.5% | -28.8% | 109.6% | -90.6% | |
| Debt | 0.0% | 2.6% | 1890.0% | 0.8% | 21.8% | -83.3% | -1.4% | |
| Diluted Shares | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -8.5% | 252.2% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B-7.38
10Y Low / Med / High3.16 / 35.68 / 40.92
EV/EBITDAAt Loss
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$1.44
Cash / Share
$3.57
| Metric | Trend | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -20.08 | -14.94 | -11.47 | -9.59 | -6.49 | -1.27 | -2.39 | -0.07 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 5097.94 | 964.47 | 0.00 | 0.00 | |
| P/B Ratio | -4.25 | 40.92 | -2.92 | -2.42 | -1.88 | 3.16 | 35.68 | -7.38 | |
| EV/EBITDA | -21.39 | -21.21 | -22.41 | -18.90 | -12.39 | -1.25 | -2.27 | -0.25 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 7932.91 | 911.09 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-13.45
Distress
Piotroski F-Score
2
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $12.4M | $19.1M | $78.9M |
| Net Income | -$52.5M | -$74.0M | -$54.9M |
| EPS | $-4.20 | $-5.79 | $-4.24 |
| # Analysts (EPS) | 3 | 3 | 4 |