A Business at a Glance
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Item 1. Business I. Overview We are a global biopharmaceutical company dedicated to improving the lives of children and adults with spinal muscular atrophy (“SMA”) and additional rare, severe and debilitating neuromuscular diseases. As a leader in the biology of the transforming growth factor beta (“TGFβ”) superfamily, our novel understanding of the molecular mechanisms of growth factor activation enabled the development of a proprietary platform for the discovery and development of monoclonal antibodies that locally and selectively target the precursor, or latent, forms of growth factors. Based on our innovative, proprietary, and scalable technology platform, we are building a world-leading anti-myostatin pipeline. During 2025, we made significant progress in advancing our product candidates. We believe 2026 could be a transformational year for Scholar Rock as we anticipate the potential to become a commercial-stage biotech company.
| Metric | TTM | FY2025 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | - | - | - | - |
| Net Income | -378M | -378M | -166M | -135M | -132M | -86M |
| EPS | $-3.29 | $-3.29 | $-1.99 | $-2.26 | $-3.59 | $-2.81 |
| Free Cash Flow | -301M | -301M | -145M | -134M | -132M | -64M |
| ROIC | -984.2% | -98.9% | -60.5% | -43.4% | -59.8% | -30.3% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.44 | 0.44 | 0.27 | 0.27 | 0.45 | 0.22 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -385M | -385M | -171M | -134M | -130M | -87M |
| Operating Margin | 0.0% | - | - | - | - | - |
| ROE | -154.0% | -123.1% | -73.6% | -51.7% | -76.6% | -33.2% |
| Shares Outstanding | 115M | 115M | 83M | 60M | 37M | 31M |
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | N/A | 0 | N/A | N/A | N/A | N/A | N/A | 0 | 0 |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | 20M | 36M | 54M | 74M | 108M | 124M | 122M | 208M | 208M |
| SG&A | 5.1M | 14M | 21M | 28M | 40M | 43M | 49M | 176M | 176M |
| EBIT | -25M | -51M | -55M | -87M | -130M | -134M | -171M | -385M | -385M |
| Op. Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Net Income | -25M | -49M | -51M | -86M | -132M | -135M | -166M | -378M | -378M |
| Net Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | -40.6% | -46.3% | -45.2% | -30.3% | -59.8% | -43.4% | -60.5% | -98.9% | N/M |
| ROE | N/A | -46.3% | -45.2% | -33.2% | -76.6% | -51.7% | -73.6% | -123.1% | -154.0% |
| ROA | -40.6% | -27.2% | -26.0% | -22.3% | -43.3% | -37.6% | -53.3% | -86.0% | -93.5% |
| Cash Flow | |||||||||
| Op. Cash Flow | -22M | 25M | -63M | -60M | -127M | -133M | -145M | -300M | -300M |
| Free Cash Flow | -22M | 23M | -66M | -64M | -132M | -134M | -145M | -301M | -301M |
| Owner Earnings | -24M | 19M | -72M | -73M | -153M | -163M | -175M | -377M | -377M |
| CapEx | 361K | 1.5M | 3.1M | 4.1M | 5.2M | 1.1M | 71K | 602K | 602K |
| Maint. CapEx | 669K | 807K | 1.3M | 1.5M | 2.6M | 3.0M | 2.8M | 1.7M | 1.7M |
| Growth CapEx | 0 | 685K | 1.8M | 2.6M | 2.6M | 0 | 0 | 0 | 0 |
| D&A | 669K | 807K | 1.3M | 1.5M | 2.6M | 3.0M | 2.8M | 1.7M | 1.7M |
| CapEx/OCF | N/A | 6.1% | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | |||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% | 0.0% | 0.0% |
| Stock-Based Comp | 1.5M | 5.2M | 8.0M | 11M | 23M | 28M | 27M | 76M | 76M |
| Debt Repayment | 667K | 667K | 365K | 365K | 0 | 975K | 0 | 26M | 26M |
| Balance Sheet | |||||||||
| Net Debt | -56M | -175M | -152M | -284M | -176M | -244M | -218M | -259M | -215M |
| Cash & Equiv. | 56M | 115M | 36M | 160M | 213M | 103M | 102M | 324M | 324M |
| Long-Term Debt | 398K | 24K | N/A | 25M | 48M | 50M | 49M | 100M | 100M |
| Debt/Equity | -0.03 | 0.01 | 0.05 | 0.22 | 0.45 | 0.27 | 0.27 | 0.44 | 0.44 |
| Interest Coverage | -568.8 | -35.6 | N/A | -346.1 | -62.4 | -30.7 | -26.8 | -55.8 | -55.8 |
| Equity | -54M | 107M | 113M | 261M | 172M | 260M | 225M | 245M | 245M |
| Total Assets | 62M | 181M | 196M | 388M | 304M | 358M | 311M | 404M | 404M |
| Total Liabilities | 5.9M | 75M | 83M | 128M | 132M | 98M | 86M | 159M | 159M |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | -58M | -107M | -158M | -244M | -376M | -511M | -676M | -1.3B | -1.3B |
| Working Capital | 54M | 147M | 152M | 302M | 201M | 292M | 255M | 330M | 330M |
| Current Assets | 59M | 178M | 185M | 344M | 265M | 328M | 288M | 385M | 385M |
| Current Liabilities | 5.0M | 31M | 33M | 43M | 64M | 36M | 33M | 55M | 55M |
| Per Share Data | |||||||||
| EPS | -15.30 | -3.15 | -1.85 | -2.81 | -3.59 | -2.26 | -1.99 | -3.29 | -3.29 |
| Owner EPS | -0.91 | 1.18 | -2.63 | -2.37 | -4.16 | -2.75 | -2.10 | -3.28 | -3.28 |
| Book Value | -2.04 | 6.81 | 4.10 | 8.47 | 4.69 | 4.37 | 2.70 | 2.14 | 2.14 |
| Cash Flow/Share | -0.83 | 1.57 | -2.29 | -1.96 | -3.45 | -2.23 | -1.74 | -2.61 | -3.28 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 26.2M | 15.7M | 27.6M | 30.8M | 36.7M | 59.5M | 83.3M | 114.9M | 114.9M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -15.1 |
| P/FCF | N/A | 14.5 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 3.1 | 3.2 | 5.7 | 5.4 | 1.8 | N/A | N/A | 23.2 |
| Price/Sales | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| FCF Yield | N/A | 6.9% | -18.5% | -4.4% | -14.3% | -28.9% | N/A | N/A | -5.3% |
| Market Cap | N/A | 334M | 359M | 1.5B | 921M | 464M | 0 | 0 | 5.7B |
| Avg. Price | N/A | 20.21 | 14.44 | 20.09 | 37.26 | 10.39 | 0.00 | 0.00 | 49.52 |
| Year-End Price | N/A | 21.34 | 13.01 | 47.90 | 25.08 | 7.79 | 0.00 | 0.00 | 49.52 |
Scholar Rock Holding Corp passes 0 of 9 quality checks, indicating weak fundamentals.
At current prices, the estimated annualized return to fair value is +3.7%.
Scholar Rock Holding Corp (SRRK) has a 5-year average return on invested capital (ROIC) of -58.6%. This is below average and may indicate limited pricing power.
Scholar Rock Holding Corp (SRRK) has a market capitalization of $5.7B. It is classified as a mid-cap stock.
Scholar Rock Holding Corp (SRRK) does not currently pay a regular dividend.
Scholar Rock Holding Corp (SRRK) operates in the Biological Products, (No Diagnostic Substances) industry, within the Healthcare sector.
Scholar Rock Holding Corp (SRRK) generated $-301 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Scholar Rock Holding Corp (SRRK) has a debt-to-equity ratio of 0.44. This indicates a conservatively financed balance sheet.
Scholar Rock Holding Corp (SRRK) reported earnings per share (EPS) of $-3.29 in its most recent fiscal year.
Scholar Rock Holding Corp (SRRK) has a return on equity (ROE) of -123.1%. A negative ROE may indicate losses or negative equity.
The Ledger Terminal provides 8 years of financial data for Scholar Rock Holding Corp (SRRK), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Scholar Rock Holding Corp (SRRK) has a book value per share of $2.14, based on its most recent annual SEC filing.
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