Viking Therapeutics, Inc. (VKTX) Financial Statements & Historical Data

Viking Therapeutics, Inc. (VKTX) — Price $26.09 (closing price, November 3, 2026) — Healthcare — Biotechnology — NASDAQ

Latest reported results:

Detailed financial statements for Viking Therapeutics, Inc. (VKTX): income statement, balance sheet and cash-flow summary. Track margins, debt, liquidity and profitability trends year over year: ten fiscal years free and up to 20 with Premium.

Viking Therapeutics, Inc. operates as a clinical-stage biopharmaceutical company, specializing in the creation of novel treatments for metabolic and endocrine conditions. The company's leading investigational drug, VK2809, is an orally administered, tissue and receptor-selective agonist of the thyroid hormone receptor beta (TRß).

Analysis Summary

Trailing-twelve-month margins: gross margin 0.0%, operating margin 0.0%, net margin 0.0%.

At $26.09 (closing price, November 3, 2026), VKTX has negative trailing earnings (P/E not meaningful) and an ROE of -117.35%. Market capitalisation stands at $3.3B.

Balance sheet quality for VKTX: debt-to-equity ratio of 0.43, current ratio of 7.27 over the last 12 months, net cash position of $705.6M at the end of the last fiscal year. A debt-to-equity below 1.0 typically signals conservative capital structure, while a current ratio above 1.5 indicates comfortable short-term liquidity.

Income Statement (10y)

Year2016201720182019202020212022202320242025
Revenue0000000000
Cost of Revenue000$260,00000000$431,000
Gross Profit000-$260,00000000-$431,000
Research & Development$9.0M$13.7M$19.0M$23.6M$31.9M$45.0M$54.2M$63.8M$101.6M$345.0M
Selling, General & Admin$4.8M$5.3M$7.1M$8.9M$10.7M$10.7M$16.1M$37.0M$49.3M$48.4M
Operating Expenses$13.8M$19.1M$26.2M$32.4M$42.7M$55.7M$70.4M$100.8M$150.9M$393.3M
Operating Income-$13.8M-$19.1M-$26.2M-$32.7M-$42.7M-$55.7M-$70.4M-$100.8M-$150.9M-$393.3M
EBITDA-$10.8M$442,882$4.7M-$25.4M-$39.1M-$54.7M-$68.5M-$85.5M-$109.5M-$359.2M
Interest Expense$2.0M$2.0M$562,000$146,000$106,000$18,000$59,000$88,000$94,0000
Pre-tax Income-$14.7M-$20.6M-$22.1M-$25.8M-$39.5M-$55.0M-$68.9M-$85.9M-$110.0M-$359.6M
Income Tax0000000000
Net Income-$14.7M-$20.6M-$22.1M-$25.8M-$39.5M-$55.0M-$68.9M-$85.9M-$110.0M-$359.6M
EPS-$0.90-$0.79-$0.38-$0.36-$0.50-$0.70-$0.88-$0.91-$1.01-$3.19
EPS (Diluted)-$0.90-$0.79-$0.38-$0.36-$0.50-$0.70-$0.88-$0.91-$1.01-$3.19
Shares Outstanding (Diluted)16.3 M26.0 M57.6 M72.0 M72.6 M77.2 M76.8 M94.3 M109.0 M112.7 M

Income Statement (Quarterly)

Year2025-Q32025-Q42026-Q12026-Q2
Revenue0000
Gross Profit-$114,000-$94,00000
Operating Income-$98.6M-$164.7M-$164.1M-$132.6M
EBITDA-$90.7M-$157.6M-$158.2M-$127.9M
Net Income-$90.8M-$157.7M-$158.3M-$128.0M
EPS-$0.81-$1.38-$1.37-$1.10
EPS (Diluted)-$0.81-$1.38-$1.37-$1.10

Balance Sheet (10y)

Year2016201720182019202020212022202320242025
Cash & Equivalents$3.1M$9.0M$24.8M$8.4M$29.1M$26.4M$36.6M$55.5M$26.7M$165.8M
Short-term Investments$10.1M$11.6M$276.7M$267.3M$219.3M$175.7M$118.9M$306.6M$875.9M$539.9M
Receivables0000000000
Inventory0000000000
Total Current Assets$14.0M$21.9M$302.1M$283.5M$256.1M$210.5M$167.0M$367.2M$907.2M$715.6M
Property, Plant & Equipment000$598,000$321,000$25,000$1.4M$1.1M$1.0M$85,000
Goodwill0000000000
Intangible Assets0000000000
Total Assets$14.5M$22.1M$302.3M$284.3M$256.5M$210.7M$168.5M$368.5M$908.3M$715.7M
Accounts Payable$1.2M$1.5M$959,000$2.4M$4.0M$1.4M$8.5M$7.5M$9.8M$53.3M
Short-term Debt$3.3M$3.5M00000000
Total Current Liabilities$6.5M$8.7M$4.5M$6.8M$12.1M$8.8M$21.9M$19.1M$27.4M$76.7M
Long-term Debt0000000000
Total Liabilities$6.5M$8.7M$4.6M$7.1M$12.2M$8.8M$23.2M$20.1M$28.0M$76.7M
Retained Earnings-$60.3M-$80.9M-$102.9M-$128.7M-$168.2M-$223.2M-$292.0M-$377.9M-$487.9M-$847.5M
Total Equity$8.0M$13.5M$297.8M$277.1M$244.3M$201.9M$145.3M$348.4M$880.3M$639.1M
Total Debt$3.3M$3.5M0$662,000$359,000$29,000$1.6M$1.3M$1.1M$137,000
Net Debt-$9.9M-$17.1M-$301.5M-$275.0M-$248.0M-$202.1M-$153.9M-$360.8M-$901.5M-$705.6M
Working Capital$7.5M$13.2M$297.6M$276.7M$244.0M$201.8M$145.1M$348.1M$879.8M$638.9M

Balance Sheet (Quarterly)

Year2025-Q42026-Q12026-Q22026-Q3
Cash & Equivalents$165.8M$118.1M$125.8M$677.6M
Total Assets$715.7M$608.2M$521.9M$977.2M
Total Liabilities$76.7M$106.3M$113.6M$388.6M
Total Equity$639.1M$501.9M$408.3M$588.6M
Total Debt$137,0000$4.1M$254.7M

Cash Flow (10y)

Year2016201720182019202020212022202320242025
Net Income-$14.7M-$20.6M-$22.1M-$25.8M-$39.5M-$55.0M-$68.9M-$85.9M-$110.0M-$359.6M
Depreciation & Amortization$1.9M$19.1M$26.2M$260,000$277,000$296,000$291,000$292,000$346,000$431,000
Stock-based Compensation$1.8M$1.5M$2.6M$3.7M$5.8M$6.1M$8.7M$16.8M$29.7M$40.8M
Change in Working Capital$849,878$1.8M$823,000-$3.8M$7.7M-$2.9M$10.2M$3.5M$9.4M$49.0M
Operating Cash Flow-$11.1M-$14.8M-$18.8M-$24.8M-$21.8M-$47.6M-$48.4M-$73.4M-$87.8M-$278.7M
Capital Expenditure0000000000
Acquisitions0000000000
Stock Repurchased-$22900000-$6.8M000
Dividends Paid0000000000
Free Cash Flow-$11.1M-$14.8M-$18.8M-$24.8M-$21.8M-$47.6M-$48.4M-$73.4M-$87.8M-$278.7M

Cash Flow (Quarterly)

Year2025-Q42026-Q12026-Q22026-Q3
Operating Cash Flow-$85.3M-$114.0M-$125.2M-$138.2M
Capital Expenditure0000
Free Cash Flow-$85.3M-$114.0M-$125.2M-$138.2M
Dividends Paid0000
Stock-based Compensation$8.6M$10.3M$11.1M$17.9M

Growth & Margins (10y)

Year2016201720182019202020212022202320242025
Net Income Growth (YoY)-39.7%-7.2%-16.8%-53.2%-39.2%-25.2%-24.7%-28.0%-227.1%
EPS Growth (YoY)+12.2%+51.9%+5.3%-38.9%-40.0%-25.7%-3.4%-11.0%-215.8%
Shares Change (YoY)+59.6%+121.6%+25.0%+0.9%+6.3%-0.5%+22.8%+15.6%+3.3%
FCF Growth (YoY)-33.3%-27.1%-32.0%+12.0%-118.5%-1.7%-51.6%-19.6%-217.4%
Effective Tax Rate-0.0%-0.0%-0.0%-0.0%-0.0%-0.0%-0.0%-0.0%-0.0%-0.0%

Per-Share Data (10y)

Year2016201720182019202020212022202320242025
FCF Per Share-$0.68-$0.57-$0.33-$0.34-$0.30-$0.62-$0.63-$0.78-$0.81-$2.47
Dividends Per Share$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
Shares Outstanding (Basic)16.3 M26.0 M57.6 M72.0 M72.6 M77.2 M76.8 M94.3 M109.0 M112.7 M

What to look at in Biotech

Most small biotechs lose money. Analysing them with P/E makes no sense — look at cash and pipeline.

Profitability

Return on Equity-117.35%
Return on Invested Capital-76.91%
Return on Assets-64.19%
Gross Margin0.00%
Operating Margin0.00%
Net Margin0.00%

Financial Health

Debt / Equity0.43
Current Ratio7.27
Piotroski F-Score1
Altman Z-Score28.62

Key Ratios (10y)

Year2016201720182019202020212022202320242025
P/E-1.32-5.14-20.13-22.28-11.26-6.57-10.68-20.45-39.84-11.03
P/B2.417.831.482.081.671.764.975.044.986.20
P/S0.000.000.000.000.000.000.000.000.000.00
Gross Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Operating Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%
Net Margin0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%0.0%

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Explore sector: Healthcare · Biotechnology

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