What is Coherus's earnings per share (EPS)?

Coherus (CHRS) reported diluted earnings per share of $1.43 for fiscal year 2025. This represents a 472.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Coherus Financials

CHRS

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Coherus (CHRS) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 14 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 52/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Coherus has an operating margin of -429.5%, meaning the company retains $-430 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -756.6% the prior year.

Growth

100

Coherus's revenue surged 59.8% year-over-year to $42.2M, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Coherus has a moderate D/E ratio of 3.23. This balance of debt and equity financing earns a leverage score of 36/100.

Liquidity

Coherus's current ratio of 1.47 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 25/100, which could limit financial flexibility.

Returns

100

Coherus earns a strong 275.4% return on equity (ROE), meaning it generates $275 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.

Piotroski F-Score Neutral

5/9

Coherus passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

-0.82x

For every $1 of reported earnings, Coherus generates $-0.82 in operating cash flow (-$138.5M OCF vs $168.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk

-20.1x

Coherus earns $-20.1 in operating income for every $1 of interest expense (-$181.1M vs $9.0M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue

$42.2M

YoY+59.8%

5Y CAGR-38.4%

10Y CAGR+3.5%

Coherus generated $42.2M in revenue in fiscal year 2025. This represents an increase of 59.8% from the prior year.

EBITDA

-$179.8M

YoY+9.2%

Coherus's EBITDA was -$179.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 9.2% from the prior year.

Net Income

$168.0M

YoY+489.4%

5Y CAGR+4.9%

Coherus reported $168.0M in net income in fiscal year 2025. This represents an increase of 489.4% from the prior year.

EPS (Diluted)

$1.43

YoY+472.0%

5Y CAGR-2.5%

Coherus earned $1.43 per diluted share (EPS) in fiscal year 2025. This represents an increase of 472.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$88.9M

YoY-29.5%

5Y CAGR-30.3%

10Y CAGR-5.6%

Coherus held $88.9M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

121M

YoY+4.8%

5Y CAGR+10.7%

10Y CAGR+12.0%

Coherus had 121M shares outstanding in fiscal year 2025. This represents an increase of 4.8% from the prior year.

Margins & Returns

Gross Margin

67.2%

YoY+0.3pp

5Y CAGR-24.8pp

Coherus's gross margin was 67.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.3 percentage points from the prior year.

Operating Margin

-429.5%

YoY+327.1pp

5Y CAGR-462.4pp

10Y CAGR+299.7pp

Coherus's operating margin was -429.5% in fiscal year 2025, reflecting core business profitability. This is up 327.1 percentage points from the prior year.

Net Margin

398.4%

YoY+290.4pp

5Y CAGR+370.6pp

10Y CAGR+1141.6pp

Coherus's net profit margin was 398.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 290.4 percentage points from the prior year.

Return on Equity

275.4%

5Y CAGR+228.3pp

Coherus's ROE was 275.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending

$108.9M

YoY+18.6%

5Y CAGR-5.3%

10Y CAGR-6.5%

Coherus invested $108.9M in research and development in fiscal year 2025. This represents an increase of 18.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

N/A

CHRS Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$42.2M+59.8%	$26.4M+2066.6%	$1.2M-99.4%	$211.0M-35.4%	$326.6M-31.4%	$475.8M
Cost of Revenue	$13.8M+58.3%	$8.7M+1892.5%	$438K-99.4%	$70.1M+21.7%	$57.6M+52.9%	$37.7M
Gross Profit	$28.4M+60.6%	$17.7M+2164.4%	$780K-99.4%	$141.0M-47.6%	$269.0M-38.6%	$438.2M
R&D Expenses	$108.9M+18.6%	$91.8M-4.5%	$96.1M-51.8%	$199.4M-45.1%	$363.1M+154.3%	$142.8M
SG&A Expenses	$100.6M-19.8%	$125.5M+4.2%	$120.5M-39.3%	$198.5M+17.0%	$169.7M+22.0%	$139.1M
Operating Income	-$181.1M+9.3%	-$199.7M+7.5%	-$215.8M+16.0%	-$256.9M+2.6%	-$263.9M-268.8%	$156.3M
Interest Expense	$9.0M-16.1%	$10.7M-3.1%	$11.1M-65.9%	$32.5M+41.4%	$23.0M+8.5%	$21.2M
Income Tax	$0	$0+100.0%	-$380K	$0	$0-100.0%	$3.5M
Net Income	$168.0M+489.4%	$28.5M+112.0%	-$237.9M+18.5%	-$291.8M-1.6%	-$287.1M-317.1%	$132.2M
EPS (Diluted)	$1.43+472.0%	$0.25+109.9%	$-2.53+32.7%	$-3.76+1.3%	$-3.81-335.2%	$1.62

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$12.7M+10.2%	$11.6M+12.8%	$10.3M+34.9%	$7.6M-1.7%	$7.7M+27.8%	$6.1M-41.2%	$10.3M+346.1%	$2.3M
Cost of Revenue	$4.0M+8.7%	$3.7M+9.6%	$3.4M+28.0%	$2.7M-3.5%	$2.8M+0.8%	$2.7M+50.9%	$1.8M+25.7%	$1.4M
Gross Profit	$8.7M+10.9%	$7.8M+14.4%	$6.9M+38.7%	$4.9M-0.7%	$5.0M+50.0%	$3.3M-60.8%	$8.5M+876.6%	$869K
R&D Expenses	$31.0M+13.7%	$27.3M+3.6%	$26.3M+8.0%	$24.4M+17.3%	$20.8M-5.9%	$22.1M+7.1%	$20.6M-27.5%	$28.4M
SG&A Expenses	$23.6M-5.3%	$24.9M-4.3%	$26.0M+0.1%	$26.0M-12.1%	$29.6M+5.3%	$28.1M+2.2%	$27.5M-31.6%	$40.2M
Operating Income	-$45.9M-3.5%	-$44.3M+2.5%	-$45.5M-0.1%	-$45.4M-0.1%	-$45.4M+3.1%	-$46.9M-18.2%	-$39.6M+41.5%	-$67.8M
Interest Expense	$2.2M-3.3%	$2.3M+2.1%	$2.3M+5.9%	$2.1M+195.7%	$727K-74.3%	$2.8M-30.4%	$4.1M+30.3%	$3.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$37.6M-5.9%	-$35.5M-111.9%	$297.8M+626.4%	-$56.6M-11.6%	-$50.7M-371.5%	-$10.8M+16.8%	-$12.9M-112.6%	$102.9M
EPS (Diluted)	N/A	$-0.31-112.1%	$2.57+624.5%	$-0.49	N/A	$-0.09+18.2%	$-0.11-112.1%	$0.91

CHRS Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$258.3M-42.4%	$448.5M-28.8%	$629.6M+30.9%	$480.8M-29.2%	$679.3M-19.3%	$841.6M
Current Assets	$206.7M-39.5%	$341.6M-28.2%	$475.6M+24.8%	$381.2M-36.7%	$602.3M-21.5%	$767.5M
Cash & Equivalents	$88.9M-29.5%	$126.0M+22.4%	$102.9M+61.9%	$63.5M-84.8%	$417.2M-22.9%	$541.2M
Inventory	$3.2M-24.6%	$4.2M+100.9%	$2.1M-94.6%	$38.8M+3.1%	$37.6M-14.9%	$44.2M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	$943K0.0%	$943K+4.8%	$900K-4.6%	$943K
Total Liabilities	$197.3M-66.0%	$580.5M-29.5%	$823.0M+33.1%	$618.3M+6.3%	$581.6M+3.7%	$560.7M
Current Liabilities	$140.4M-50.4%	$283.0M-14.7%	$331.8M+139.2%	$138.7M-16.1%	$165.3M+13.5%	$145.7M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$61.0M+146.2%	-$132.0M+31.8%	-$193.4M-40.8%	-$137.4M-240.6%	$97.7M-65.2%	$281.0M
Retained Earnings	-$1.4B+10.8%	-$1.6B+1.8%	-$1.6B-17.7%	-$1.3B-27.8%	-$1.0B-37.6%	-$762.8M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$258.3M-50.0%	$516.5M+17.5%	$439.5M+18.4%	$371.1M-17.3%	$448.5M-11.2%	$505.0M-25.2%	$674.9M-11.6%	$763.5M
Current Assets	$206.7M-55.2%	$461.0M+21.2%	$380.2M+22.6%	$310.2M-9.2%	$341.6M-7.4%	$369.0M-33.9%	$557.9M-11.1%	$627.5M
Cash & Equivalents	$88.9M-14.0%	$103.4M-52.3%	$216.9M+163.2%	$82.4M-34.6%	$126.0M+29.0%	$97.7M-38.7%	$159.2M-38.7%	$259.8M
Inventory	$3.2M+54.9%	$2.0M-54.6%	$4.5M+28.3%	$3.5M-16.4%	$4.2M-91.2%	$47.6M-23.4%	$62.2M+0.3%	$62.0M
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$197.3M-54.0%	$428.7M+34.1%	$319.6M-42.4%	$554.5M-4.5%	$580.5M-2.1%	$593.0M-21.9%	$759.0M-10.2%	$845.4M
Current Liabilities	$140.4M-62.3%	$372.3M+41.2%	$263.6M+3.4%	$255.0M-9.9%	$283.0M-4.3%	$295.6M-36.2%	$463.0M-14.0%	$538.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$61.0M-30.5%	$87.8M-26.7%	$119.8M+165.3%	-$183.5M-39.0%	-$132.0M-50.0%	-$88.0M-4.6%	-$84.1M-2.8%	-$81.8M
Retained Earnings	-$1.4B-2.8%	-$1.3B-2.7%	-$1.3B+18.5%	-$1.6B-3.6%	-$1.6B-3.4%	-$1.5B-0.7%	-$1.5B-0.9%	-$1.5B

CHRS Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$138.5M-577.7%	-$20.4M+88.3%	-$174.9M+27.5%	-$241.1M-544.2%	-$37.4M-124.3%	$154.1M
Capital Expenditures	N/A	N/A	$286K-86.0%	$2.0M+58.2%	$1.3M-82.2%	$7.2M
Free Cash Flow	N/A	N/A	-$175.2M+28.0%	-$243.2M-528.0%	-$38.7M-126.4%	$146.9M
Investing Cash Flow	$375.1M+62.9%	$230.3M+59.2%	$144.6M+186.7%	-$166.8M-20.5%	-$138.4M-861.1%	-$14.4M
Financing Cash Flow	-$273.7M-46.4%	-$187.0M-368.6%	$69.6M+28.1%	$54.3M+4.7%	$51.9M-76.8%	$223.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	-$19.7M+57.5%	-$46.3M+0.6%	-$46.6M-80.6%	-$25.8M-190.3%	$28.6M+146.1%	-$62.0M-203.8%	$59.7M+227.7%	-$46.8M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	-$2.8M+95.8%	-$67.2M-114.5%	$462.6M+2745.8%	-$17.5M-3126.2%	-$542K-222.1%	$444K-98.4%	$27.7M-86.4%	$202.8M
Financing Cash Flow	$8.1M+403950.0%	$2K+100.0%	-$281.5M-106537.9%	-$264K-214.3%	$231K+238.3%	-$167K+99.9%	-$187.9M-21286.6%	$887K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CHRS Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	67.2%+0.3pp	66.9%+2.9pp	64.0%-2.8pp	66.8%-15.6pp	82.4%-9.7pp	92.1%
Operating Margin	-429.5%+327.1pp	-756.6%+16960.0pp	-17716.6%-17594.9pp	-121.7%-40.9pp	-80.8%-113.7pp	32.9%
Net Margin	398.4%+290.4pp	108.0%+19639.4pp	-19531.4%-19393.1pp	-138.2%-50.3pp	-87.9%-115.7pp	27.8%
Return on Equity	275.4%	N/A	N/A	N/A	-293.8%-340.9pp	47.1%
Return on Assets	65.0%+58.7pp	6.4%+44.1pp	-37.8%+22.9pp	-60.7%-18.4pp	-42.3%-58.0pp	15.7%
Current Ratio	1.47+0.3	1.21-0.2	1.43-1.3	2.75-0.9	3.64-1.6	5.27
Debt-to-Equity	3.23+7.6	-4.40-0.1	-4.25+0.2	-4.50-10.5	5.95+4.0	2.00
FCF Margin	N/A	N/A	-14381.8%-14266.6pp	-115.2%-103.4pp	-11.9%-42.7pp	30.9%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	68.3%+0.4pp	67.8%+0.9pp	66.9%+1.8pp	65.1%+0.7pp	64.4%+9.5pp	54.9%-27.5pp	82.4%+44.8pp	37.6%
Operating Margin	-359.9%+23.2pp	-383.1%+60.5pp	-443.6%+154.3pp	-597.9%-11.0pp	-586.9%+187.3pp	-774.2%-389.4pp	-384.9%+2552.2pp	-2937.1%
Net Margin	-295.3%+11.8pp	-307.1%-3211.0pp	2903.9%+3648.3pp	-744.4%-88.9pp	-655.6%-477.9pp	-177.6%-52.1pp	-125.5%-4582.8pp	4457.3%
Return on Equity	-61.7%-21.2pp	-40.5%-289.0pp	248.5%	N/A	N/A	N/A	N/A	N/A
Return on Assets	-14.6%-7.7pp	-6.9%-74.6pp	67.8%+83.0pp	-15.2%-3.9pp	-11.3%-9.2pp	-2.1%-0.2pp	-1.9%-15.4pp	13.5%
Current Ratio	1.47+0.2	1.24-0.2	1.44+0.2	1.220.0	1.21-0.0	1.25+0.0	1.21+0.0	1.17
Debt-to-Equity	3.23-1.7	4.88+2.2	2.67+5.7	-3.02+1.4	-4.40+2.3	-6.74+2.3	-9.02+1.3	-10.33
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Coherus's annual revenue?

Coherus (CHRS) reported $42.2M in total revenue for fiscal year 2025. This represents a 59.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Coherus's revenue growing?

Coherus (CHRS) revenue grew by 59.8% year-over-year, from $26.4M to $42.2M in fiscal year 2025.

Is Coherus profitable?

Yes, Coherus (CHRS) reported a net income of $168.0M in fiscal year 2025, with a net profit margin of 398.4%.

What is Coherus's EBITDA?

Coherus (CHRS) had EBITDA of -$179.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Coherus's gross margin?

Coherus (CHRS) had a gross margin of 67.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Coherus's operating margin?

Coherus (CHRS) had an operating margin of -429.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Coherus's net profit margin?

Coherus (CHRS) had a net profit margin of 398.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Coherus's return on equity (ROE)?

Coherus (CHRS) has a return on equity of 275.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Coherus's operating cash flow?

Coherus (CHRS) generated -$138.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Coherus's total assets?

Coherus (CHRS) had $258.3M in total assets as of fiscal year 2025, including both current and long-term assets.

How much does Coherus spend on research and development?

Coherus (CHRS) invested $108.9M in research and development during fiscal year 2025.

How many shares does Coherus have outstanding?

Coherus (CHRS) had 121M shares outstanding as of fiscal year 2025.

What is Coherus's current ratio?

Coherus (CHRS) had a current ratio of 1.47 as of fiscal year 2025, which is considered adequate.

What is Coherus's debt-to-equity ratio?

Coherus (CHRS) had a debt-to-equity ratio of 3.23 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Coherus's return on assets (ROA)?

Coherus (CHRS) had a return on assets of 65.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Coherus's cash runway?

Based on fiscal year 2025 data, Coherus (CHRS) had $88.9M in cash against an annual operating cash burn of $138.5M. This gives an estimated cash runway of approximately 8 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Coherus's Piotroski F-Score?

Coherus (CHRS) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Coherus's earnings high quality?

Coherus (CHRS) has an earnings quality ratio of -0.82x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Coherus cover its interest payments?

Coherus (CHRS) has an interest coverage ratio of -20.1x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Coherus?

Coherus (CHRS) scores 52 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.