Denali Therapeutics Inc. financials
Source: EDGAR filings · Built 2026-06-02T02:50:38Z
Key metrics by reporting period
Up to six most-recent periods side-by-side. Rows are the curated key lines — revenue, margins, cash, debt, equity, cash-flow totals, plus the derived and valuation metrics we compute on top. For every tag a filer reported in one period, use the single-filing drilldown below.
Derived Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -430.27M | -395.94M | -370.93M | -262.55M | -219.89M | 413.06M |
| EBITDA | -544.16M | -479.55M | -179.97M | -330.36M | -287.16M | 71.25M |
| Working Capital | 802.31M | 762.23M | 986.15M | 1.01B | 518.99M | 1.42B |
| Net Debt | -163.04M | -120.64M | -74.86M | -157.69M | -229.47M | -438.28M |
| Operating Margin | — | — | -59.51% | -324.32% | -607.83% | 18.69% |
| Net Margin | — | — | -43.94% | -310.28% | -597.20% | 21.20% |
| Return on Equity (ROE) | -50.56% | -34.38% | -14.09% | -31.27% | -30.20% | 6.18% |
| Return on Assets (ROA) | -44.77% | -30.77% | -12.59% | -22.32% | -20.69% | 4.43% |
| Current Ratio | 9.16× | 8.46× | 13.65× | 3.77× | 2.37× | 20.86× |
| Debt-to-Equity | 0.04× | 0.04× | 0.05× | 0.06× | 0.07× | 0.06× |
| Cash Conversion Ratio | 0.81× | 0.82× | 2.47× | 0.75× | 0.73× | 5.85× |
| Accruals Ratio | -0.09× | -0.05× | 0.18× | -0.06× | -0.06× | -0.22× |
| SBC % of Revenue | — | — | 32.71% | 95.03% | 175.20% | 15.01% |
| CapEx Coverage | -23.35× | -7.21× | -27.67× | -13.72× | -24.87× | 134.46× |
| Free Cash Flow Per Share | $-2.49 | $-2.41 | $-2.70 | $-2.09 | $-1.81 | $3.67 |
Valuation Metrics
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| P/E Trailing (Diluted) | — | — | — | — | — | 132.95× |
| P/FCF | — | — | — | — | — | 22.85× |
| FCF Yield | — | — | — | — | — | 4.38% |
| EV / EBITDA | — | — | — | — | — | 135.54× |
| P/S | — | — | 8.98× | 35.99× | 112.09× | 30.09× |
| P/B | 2.54× | 2.39× | 2.88× | 3.63× | 5.67× | 8.77× |
Income Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | 0 | 0 | 330.53M | 105.06M | 48.66M | 335.56M |
| Revenues | 0 | 0 | 330.53M | 108.46M | 48.66M | 335.66M |
| Research and Development Expense | 418.78M | 396.44M | 423.88M | 358.73M | 265.35M | 212.62M |
| Operating Expenses | 555.34M | 501.88M | 527.23M | 449.21M | 344.41M | 272.94M |
| Operating Income (Loss) | -555.34M | -487.34M | -196.70M | -340.74M | -295.75M | 62.72M |
| Income Tax Expense (Benefit) | 102.00K | 68.00K | 30.00K | 21.00K | -575.00K | 823.00K |
| Net Income (Loss) Attributable to Parent | -512.54M | -422.77M | -145.22M | -325.99M | -290.58M | 71.14M |
| Earnings Per Share, Basic | $-2.97 | $-2.57 | $-1.06 | $-2.60 | $-2.39 | $0.65 |
| Weighted Average Number of Shares Outstanding, Basic | 172.65M | 164.47M | 137.37M | 125.53M | 121.52M | 108.97M |
| Earnings Per Share, Diluted | $-2.97 | $-2.57 | $-1.06 | $-2.60 | $-2.39 | $0.63 |
| Weighted Average Number of Shares Outstanding, Diluted | 172.65M | 164.47M | 137.37M | 125.53M | 121.52M | 112.70M |
Balance Sheet
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 205.33M | 174.96M | 127.11M | 218.04M | 293.48M | 507.14M |
| Assets, Current | 900.66M | 864.44M | 1.06B | 1.37B | 897.23M | 1.50B |
| Assets | 1.14B | 1.37B | 1.15B | 1.46B | 1.40B | 1.60B |
| Liabilities, Current | 98.35M | 102.21M | 77.98M | 363.92M | 378.25M | 71.70M |
| Liabilities | 131.09M | 144.50M | 122.96M | 417.81M | 441.87M | 453.75M |
| Stockholders' Equity Attributable to Parent | 1.01B | 1.23B | 1.03B | 1.04B | 962.29M | 1.15B |
| Common Stock, Shares, Outstanding | 156.18M | 144.22M | 138.39M | 135.97M | 122.28M | 120.53M |
Cash Flow Statement
| Concept | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -412.60M | -347.69M | -357.99M | -244.72M | -211.39M | 416.15M |
| Payments to Acquire Property, Plant, and Equipment | 9.50M | 15.91M | 12.94M | 17.83M | 8.50M | 3.10M |
| Net Cash Provided by (Used in) Investing Activities | 255.28M | -88.76M | 249.31M | -141.39M | -21.63M | -623.21M |
| Net Cash Provided by (Used in) Financing Activities | 189.22M | 484.30M | 17.82M | 310.67M | 19.35M | 634.75M |
Derived Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Free Cash Flow | -133.69M | -100.08M | -330.19M | -222.91M | -140.90M | -97.13M |
| EBITDA | -134.51M | -134.50M | — | — | -143.25M | -127.99M |
| Working Capital | 912.60M | 802.31M | 792.45M | 843.65M | 786.76M | 762.23M |
| Net Debt | -347.58M | -163.04M | -46.48M | -93.23M | -5.38M | -120.64M |
| Return on Equity (ROE) | -13.87% | -12.68% | -13.70% | -12.09% | -11.84% | -9.33% |
| Return on Assets (ROA) | -10.15% | -11.23% | -12.02% | -10.64% | -10.46% | -8.35% |
| Current Ratio | 9.28× | 9.16× | 9.79× | 10.27× | 9.56× | 8.46× |
| Debt-to-Equity | 0.04× | 0.04× | 0.05× | 0.05× | 0.05× | 0.04× |
| Cash Conversion Ratio | 1.02× | 0.77× | 2.47× | 1.67× | 0.99× | 0.73× |
| Accruals Ratio | 0.00× | -0.03× | 0.18× | 0.07× | -0.00× | -0.02× |
| CapEx Coverage | -52.84× | -63.99× | -19.47× | -12.81× | -13.93× | -6.24× |
| Free Cash Flow Per Share | $-0.72 | $-0.58 | $-1.92 | $-1.30 | $-0.82 | $-0.59 |
Valuation Metrics
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| P/B | 3.29× | 2.54× | 2.30× | 1.98× | 1.76× | 2.39× |
Income Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Revenue from Contract with Customer, Excluding Assessed Tax | — | — | — | — | — | 0 |
| Research and Development Expense | 103.85M | 97.91M | 101.95M | 102.70M | 116.23M | 99.79M |
| Operating Expenses | 137.36M | 137.37M | 137.43M | 134.96M | 145.58M | 129.85M |
| Operating Income (Loss) | -137.36M | -137.37M | -137.43M | -134.96M | -145.58M | -129.85M |
| Net Income (Loss) Attributable to Parent | -128.45M | -128.55M | -126.90M | -124.12M | -132.97M | -114.75M |
| Earnings Per Share, Basic | $-0.69 | $-0.73 | $-0.74 | $-0.72 | $-0.78 | $-0.68 |
| Weighted Average Number of Shares Outstanding, Basic | 186.64M | 172.65M | 172.42M | 171.45M | 171.22M | 164.47M |
| Earnings Per Share, Diluted | $-0.69 | $-0.73 | $-0.74 | $-0.72 | $-0.78 | $-0.68 |
| Weighted Average Number of Shares Outstanding, Diluted | 186.64M | 172.65M | 172.42M | 171.45M | 171.22M | 164.47M |
Balance Sheet
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Cash and Cash Equivalents, at Carrying Value | 387.63M | 205.33M | 90.96M | 141.21M | 56.95M | 174.96M |
| Assets, Current | 1.02B | 900.66M | 882.60M | 934.71M | 878.64M | 864.44M |
| Assets | 1.27B | 1.14B | 1.06B | 1.17B | 1.27B | 1.37B |
| Liabilities, Current | 110.16M | 98.35M | 90.15M | 91.06M | 91.88M | 102.21M |
| Liabilities | 339.93M | 131.09M | 129.42M | 139.19M | 148.66M | 144.50M |
| Stockholders' Equity Attributable to Parent | 926.10M | 1.01B | 926.20M | 1.03B | 1.12B | 1.23B |
| Common Stock, Shares, Outstanding | 158.66M | 156.18M | 146.63M | 145.69M | 145.25M | 144.22M |
Cash Flow Statement
| Concept | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 |
|---|---|---|---|---|---|---|
| Net Cash Provided by (Used in) Operating Activities | -131.20M | -98.54M | -314.06M | -206.77M | -131.47M | -83.72M |
| Payments to Acquire Property, Plant, and Equipment | 2.47M | 1.52M | 7.98M | 9.36M | 5.08M | 5.09M |
| Net Cash Provided by (Used in) Investing Activities | 94.46M | 20.77M | 234.51M | 176.68M | 18.75M | 172.21M |
| Net Cash Provided by (Used in) Financing Activities | 219.04M | 192.13M | -2.92M | -2.14M | -3.76M | -4.17M |
Raw XBRL tagging for a single filing
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Methodology
All facts on this page come straight from SEC EDGAR XBRL
company-facts filings (DNLI CIK 0001714899),
grouped by financial statement using FASB's base
us-gaap presentation taxonomy. Filers may re-parent
concepts onto different statements in their own extension
taxonomy, so a handful of rows can show up under a different
statement than on the actual 10-K / 10-Q; custom concepts and
any we couldn't map fall into Other. Hover a
cell to see the fully-qualified concept name and the filer's
description.
For the full methodology — statement grouping, the Other bucket, derived metrics, and fact tooltips — see the methodology reference for the statement grouping, the "Other" bucket, derived metrics, and fact tooltips.