What is Summit Therapeutics Inc's earnings per share (EPS)?

Summit Therapeutics Inc (SMMT) reported diluted earnings per share of $-1.44 for fiscal year 2025. This represents a -364.5% 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.

Summit Therapeutics Inc Financials

SMMT

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Summit Therapeutics Inc (SMMT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).

Rhea AI SMMT FY2025 2026-04-30

Summit Therapeutics is operating as a capital-funded drug developer, with spending scale rising far faster than any internal cash generation.

FY2025 cash burn of $323M exceeded year-end cash of $225M, so the strong current ratio reflects a cash cushion, not a self-funding model. Liabilities stayed light at $92M because the gap was covered by $618M of financing, showing the business is still funded mainly by capital raises rather than customers or lenders.

The cost structure widened in FY2025: R&D reached $538M while SG&A climbed to $557M, which suggests spending is no longer concentrated only in research. That mix makes the company look less like a small lab and more like an organization building the broader machinery around development.

Solvency and dilution are telling different stories. Debt-to-equity was only 0.1x in FY2025, so the balance sheet is not debt-led. Instead, shares outstanding rose from 98.0M to 775.4M over the past four fiscal years, meaning existing owners have supplied most of the capital.

Financial Health Signals

Financial Profile 33/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Summit Therapeutics Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Summit Therapeutics Inc carries a low D/E ratio of 0.14, meaning only $0.14 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 99/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 9.87, Summit Therapeutics Inc holds $9.87 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Returns

Summit Therapeutics Inc generates a -163.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -56.9% the prior year.

Piotroski F-Score Weak

1/9

Summit Therapeutics Inc passes 1 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution).

Earnings Quality Low Quality

0.30x

For every $1 of reported earnings, Summit Therapeutics Inc generates $0.30 in operating cash flow (-$322.9M OCF vs -$1.1B net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$1.1B

YoY-387.8%

Summit Therapeutics Inc reported -$1.1B in net income in fiscal year 2025. This represents a decrease of 387.8% from the prior year.

EPS (Diluted)

$-1.44

YoY-364.5%

Summit Therapeutics Inc earned $-1.44 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 364.5% from the prior year.

Cash & Balance Sheet

Free Cash Flow

-$323.6M

YoY-127.5%

Summit Therapeutics Inc generated -$323.6M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 127.5% from the prior year.

Cash & Debt

$225.3M

YoY+114.8%

5Y CAGR+27.7%

Summit Therapeutics Inc held $225.3M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

775M

YoY+5.1%

Summit Therapeutics Inc had 775M shares outstanding in fiscal year 2025. This represents an increase of 5.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-163.9%

YoY-106.9pp

5Y CAGR-97.5pp

Summit Therapeutics Inc's ROE was -163.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 106.9 percentage points from the prior year.

Capital Allocation

R&D Spending

$537.7M

YoY+256.6%

5Y CAGR+58.8%

Summit Therapeutics Inc invested $537.7M in research and development in fiscal year 2025. This represents an increase of 256.6% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$657K

YoY+372.7%

5Y CAGR+9.3%

Summit Therapeutics Inc invested $657K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 372.7% from the prior year.

SMMT Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	$0	$0-100.0%	$705K-61.0%	$1.8M+110.3%	$860K
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$537.7M+256.6%	$150.8M+153.5%	$59.5M+14.4%	$52.0M-39.1%	$85.4M+60.2%	$53.3M
SG&A Expenses	$556.8M+824.6%	$60.2M+105.8%	$29.3M+9.4%	$26.7M+13.3%	$23.6M+22.8%	$19.2M
Operating Income	N/A	-$226.0M+62.9%	-$609.6M-745.7%	-$72.1M+16.4%	-$86.2M-62.0%	-$53.2M
Interest Expense	$0-100.0%	$8.7M-47.2%	$16.5M+274.0%	$4.4M+1718.6%	$242K-5.1%	$255K
Income Tax	$0	$0	$0	N/A	$0+100.0%	-$213K
Net Income	-$1.1B-387.8%	-$221.3M+64.0%	-$614.9M-680.5%	-$78.8M+11.1%	-$88.6M-68.1%	-$52.7M
EPS (Diluted)	$-1.44-364.5%	$-0.31+68.7%	$-0.99	$-0.41+38.8%	$-0.67+11.8%	$-0.76

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	$0	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	$132.6M	N/A	$131.1M-37.0%	$208.0M+305.8%	$51.3M	N/A	$37.7M+22.5%	$30.8M
SG&A Expenses	$62.6M	N/A	$103.1M-71.4%	$360.4M+2212.4%	$15.6M	N/A	$20.7M+49.5%	$13.8M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	-$58.4M+2.1%	-$59.6M
Interest Expense	N/A	N/A	$0	$0	$0	N/A	$2.5M-20.9%	$3.1M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$189.4M	N/A	-$231.8M+59.0%	-$565.7M-799.2%	-$62.9M	N/A	-$56.3M+6.8%	-$60.4M
EPS (Diluted)	$-0.24	N/A	$-0.31+59.2%	$-0.76-744.4%	$-0.09	N/A	$-0.08+11.1%	$-0.09

SMMT Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$751.2M+72.5%	$435.6M+114.6%	$202.9M-69.4%	$664.2M+485.8%	$113.4M+10.6%	$102.5M
Current Assets	$720.3M+70.0%	$423.8M+123.4%	$189.7M-71.1%	$656.7M+574.9%	$97.3M+11.0%	$87.7M
Cash & Equivalents	$225.3M+114.8%	$104.9M+46.8%	$71.4M-79.5%	$348.6M+385.6%	$71.8M+8.1%	$66.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	$0-100.0%	$349K-76.2%	$1.5M+342.3%	$331K
Goodwill	$2.0M+7.3%	$1.9M-1.5%	$1.9M+5.3%	$1.8M-10.5%	$2.0M-1.0%	$2.0M
Total Liabilities	$92.3M+97.2%	$46.8M-62.6%	$125.3M-76.7%	$537.5M+1686.4%	$30.1M+30.6%	$23.0M
Current Liabilities	$73.0M+74.9%	$41.7M+104.5%	$20.4M-47.4%	$38.8M+51.4%	$25.6M+28.8%	$19.9M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$658.9M+69.5%	$388.7M+400.4%	$77.7M-38.7%	$126.7M+52.1%	$83.3M+4.8%	$79.5M
Retained Earnings	-$2.3B-88.9%	-$1.2B-22.3%	-$993.3M-162.5%	-$378.3M-26.3%	-$299.5M-42.0%	-$210.9M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$647.9M-13.8%	$751.2M+187.0%	$261.7M-19.2%	$324.0M-15.6%	$383.8M-11.9%	$435.6M-13.4%	$502.9M+47.1%	$341.9M
Current Assets	$616.6M-14.4%	$720.3M+192.3%	$246.5M-20.3%	$309.2M-16.6%	$370.8M-12.5%	$423.8M-13.6%	$490.3M+49.1%	$328.8M
Cash & Equivalents	$106.5M-52.7%	$225.3M-5.6%	$238.6M-19.9%	$297.9M+40.8%	$211.5M+101.7%	$104.9M+11.8%	$93.8M+229.8%	$28.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	$2.0M-1.8%	$2.0M+0.1%	$2.0M-2.0%	$2.0M+6.0%	$1.9M+3.2%	$1.9M-6.4%	$2.0M+5.9%	$1.9M
Total Liabilities	$101.9M+10.4%	$92.3M+32.9%	$69.5M+7.5%	$64.6M+63.6%	$39.5M-15.6%	$46.8M-27.9%	$64.9M-55.8%	$146.8M
Current Liabilities	$83.3M+14.1%	$73.0M+12.4%	$64.9M+7.6%	$60.3M+73.0%	$34.9M-16.4%	$41.7M-29.3%	$59.0M-57.9%	$140.2M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$545.9M-17.1%	$658.9M+242.7%	$192.3M-25.9%	$259.4M-24.7%	$344.3M-11.4%	$388.7M-11.2%	$437.9M+124.5%	$195.1M
Retained Earnings	-$2.5B-8.3%	-$2.3B-10.6%	-$2.1B-12.6%	-$1.8B-44.3%	-$1.3B-5.2%	-$1.2B-5.3%	-$1.2B-5.1%	-$1.1B

SMMT Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$322.9M-127.2%	-$142.1M-85.1%	-$76.8M-84.6%	-$41.6M+42.7%	-$72.6M-50.9%	-$48.1M
Capital Expenditures	$657K+372.7%	$139K+8.6%	$128K-79.5%	$624K+103.9%	$306K-27.3%	$421K
Free Cash Flow	-$323.6M-127.5%	-$142.2M-85.0%	-$76.9M-82.2%	-$42.2M+42.1%	-$72.9M-50.2%	-$48.5M
Investing Cash Flow	-$174.3M+15.1%	-$205.3M+65.1%	-$587.8M-94094.6%	-$624K-103.9%	-$306K+27.3%	-$421K
Financing Cash Flow	$617.5M+62.0%	$381.2M+340.7%	$86.5M-86.1%	$620.2M+696.0%	$77.9M+54.1%	$50.6M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	$0
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$122.3M-20.0%	-$101.9M-9.5%	-$93.1M-39.5%	-$66.7M-9.1%	-$61.2M-25.7%	-$48.7M-60.7%	-$30.3M+8.2%	-$33.0M
Capital Expenditures	$245K+49.4%	$164K+131.0%	$71K	$0-100.0%	$422K+2914.3%	$14K-75.9%	$58K-7.9%	$63K
Free Cash Flow	-$122.5M-20.0%	-$102.1M-9.6%	-$93.2M-39.6%	-$66.7M-8.4%	-$61.6M-26.5%	-$48.7M-60.4%	-$30.4M+8.2%	-$33.1M
Investing Cash Flow	-$238K+100.0%	-$485.2M-683219.7%	-$71K-100.0%	$150.8M-5.8%	$160.1M+91.8%	$83.5M+176.9%	-$108.6M+45.7%	-$200.1M
Financing Cash Flow	$3.8M-99.3%	$573.8M+1597.0%	$33.8M+1421.7%	$2.2M-71.1%	$7.7M+132.5%	-$23.6M-111.6%	$204.1M+2.0%	$200.2M
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

SMMT Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	-10225.4%-5461.1pp	-4764.3%+1420.9pp	-6185.2%
Net Margin	N/A	N/A	N/A	-11174.8%-6276.9pp	-4897.8%+1229.7pp	-6127.6%
Return on Equity	-163.9%-106.9pp	-56.9%+734.6pp	-791.5%-729.3pp	-62.2%+44.2pp	-106.4%-40.1pp	-66.3%
Return on Assets	-143.7%-92.9pp	-50.8%+252.2pp	-303.0%-291.1pp	-11.9%+66.3pp	-78.1%-26.7pp	-51.4%
Current Ratio	9.87-0.3	10.15+0.9	9.30-7.6	16.93+13.1	3.80-0.6	4.41
Debt-to-Equity	0.14+0.0	0.12-1.5	1.61-2.6	4.24+3.9	0.36+0.1	0.29
FCF Margin	N/A	N/A	N/A	-5986.7%-1957.2pp	-4029.5%+1613.8pp	-5643.3%

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-34.7%	N/A	-120.6%+97.5pp	-218.0%-199.8pp	-18.3%	N/A	-12.8%+18.1pp	-30.9%
Return on Assets	-29.2%	N/A	-88.6%+86.0pp	-174.6%-158.2pp	-16.4%	N/A	-11.2%+6.5pp	-17.7%
Current Ratio	7.41-2.5	9.87+6.1	3.80-1.3	5.13-5.5	10.63+0.5	10.15+1.8	8.31+6.0	2.35
Debt-to-Equity	0.19+0.0	0.14-0.2	0.36+0.1	0.25+0.1	0.110.0	0.12-0.0	0.15-0.6	0.75
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

Is Summit Therapeutics Inc profitable?

No, Summit Therapeutics Inc (SMMT) reported a net income of -$1.1B in fiscal year 2025.

What is Summit Therapeutics Inc's return on equity (ROE)?

Summit Therapeutics Inc (SMMT) has a return on equity of -163.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Summit Therapeutics Inc's free cash flow?

Summit Therapeutics Inc (SMMT) generated -$323.6M in free cash flow during fiscal year 2025. This represents a -127.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Summit Therapeutics Inc's operating cash flow?

Summit Therapeutics Inc (SMMT) generated -$322.9M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Summit Therapeutics Inc's total assets?

Summit Therapeutics Inc (SMMT) had $751.2M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Summit Therapeutics Inc's capital expenditures?

Summit Therapeutics Inc (SMMT) invested $657K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Summit Therapeutics Inc spend on research and development?

Summit Therapeutics Inc (SMMT) invested $537.7M in research and development during fiscal year 2025.

How many shares does Summit Therapeutics Inc have outstanding?

Summit Therapeutics Inc (SMMT) had 775M shares outstanding as of fiscal year 2025.

What is Summit Therapeutics Inc's current ratio?

Summit Therapeutics Inc (SMMT) had a current ratio of 9.87 as of fiscal year 2025, which is generally considered healthy.

What is Summit Therapeutics Inc's debt-to-equity ratio?

Summit Therapeutics Inc (SMMT) had a debt-to-equity ratio of 0.14 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Summit Therapeutics Inc's return on assets (ROA)?

Summit Therapeutics Inc (SMMT) had a return on assets of -143.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Summit Therapeutics Inc's cash runway?

Based on fiscal year 2025 data, Summit Therapeutics Inc (SMMT) had $225.3M in cash against an annual operating cash burn of $322.9M. 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 Summit Therapeutics Inc's Piotroski F-Score?

Summit Therapeutics Inc (SMMT) has a Piotroski F-Score of 1 out of 9, indicating weak 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Summit Therapeutics Inc's earnings high quality?

Summit Therapeutics Inc (SMMT) has an earnings quality ratio of 0.30x, 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.

How financially healthy is Summit Therapeutics Inc?

Summit Therapeutics Inc (SMMT) scores 33 out of 100 on our Financial Profile, indicating weak 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.