Merus (MRUS) Financials

$43.88 +0.82 (+1.89%)

As of 10:01 AM Eastern

Annual Income Statements for Merus

This table shows Merus' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Income / (Loss) Attributable to Common Shareholders	-25	-50	-78	-28	-55	-86	-67	-131	-147	-215
Consolidated Net Income / (Loss)	-25	-50	-78	-28	-55	-86	-67	-131	-155	-215
Net Income / (Loss) Continuing Operations	-25	-50	-78	-28	-55	-86	-67	-131	-155	-215
Total Pre-Tax Income	-25	-50	-78	-28	-55	-85	-67	-130	-152	-207
Total Operating Income	-25	-29	-42	-46	-59	-76	-90	-160	-157	-272
Total Gross Profit	2.15	2.64	26	38	31	30	49	42	44	36
Total Revenue	2.15	2.64	26	38	31	30	49	42	44	36
Operating Revenue	2.15	2.64	26	38	31	30	49	42	44	36
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	27	32	69	84	90	106	139	202	200	308
Selling, General & Admin Expense	0.83	4.48	16	29	34	36	41	52	60	83
Research & Development Expense	18	19	41	55	56	70	98	149	141	225
Total Other Income / (Expense), net	-0.16	-21	-35	18	3.70	-9.13	23	30	4.80	65
Interest Expense	-	-	-	-	-1.89	-0.30	0.13	-2.72	-15	-31
Other Income / (Expense), net	-0.21	-21	-36	7.13	1.81	-9.43	24	27	-9.71	34
Income Tax Expense	0.00	0.00	0.30	0.21	0.19	0.50	0.24	0.96	3.19	8.15
Basic Earnings per Share	($3.95)	($3.58)	($3.37)	($1.27)	($2.28)	($2.92)	($1.73)	($2.92)	($3.00)	($3.35)
Weighted Average Basic Shares Outstanding	-	-	19.43M	22.29M	24.22M	29.26M	38.64M	44.92M	51.61M	64.22M
Diluted Earnings per Share	($3.95)	($3.58)	($3.37)	($1.27)	($2.28)	($2.92)	($1.73)	($2.92)	($3.00)	($3.35)
Weighted Average Diluted Shares Outstanding	-	-	19.43M	22.29M	24.22M	29.26M	38.64M	44.92M	51.61M	64.22M
Weighted Average Basic & Diluted Shares Outstanding	-	-	19.43M	22.29M	24.22M	29.26M	38.64M	46.32M	57.88M	69.09M

This table shows Merus' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Income / (Loss) Attributable to Common Shareholders	-25	-82	-40	-33	-23	-52	-34	-50	-100	-31
Consolidated Net Income / (Loss)	-25	-82	-40	-32	-23	-60	-34	-50	-100	-31
Net Income / (Loss) Continuing Operations	-25	-82	-40	-32	-23	-60	-34	-50	-100	-31
Total Pre-Tax Income	-24	-82	-40	-31	-22	-59	-33	-48	-97	-29
Total Operating Income	-48	-54	-37	-34	-38	-48	-47	-64	-72	-89
Total Gross Profit	6.58	11	13	10	11	8.94	7.89	7.33	12	9.14
Total Revenue	6.58	11	13	10	11	8.94	7.89	7.33	12	9.14
Operating Revenue	6.58	11	13	10	11	8.94	7.89	7.33	12	9.14
Total Operating Expenses	55	64	50	44	49	56	55	72	84	98
Selling, General & Admin Expense	12	15	15	16	13	16	16	23	21	23
Research & Development Expense	42	49	35	28	37	41	39	49	63	74
Total Other Income / (Expense), net	24	-28	-3.45	3.35	16	-12	13	17	-25	59
Interest Expense	-0.87	-1.43	-2.00	-2.80	-4.52	-5.20	-4.92	-7.13	-10	-8.49
Other Income / (Expense), net	23	-29	-5.44	0.55	12	-17	8.53	9.52	-35	51
Income Tax Expense	0.33	0.39	-0.46	1.49	1.12	1.04	1.10	2.32	2.98	1.76
Basic Earnings per Share	($0.53)	($1.83)	($0.86)	($0.66)	($0.43)	($1.05)	($0.59)	($0.81)	($1.46)	($0.49)
Weighted Average Basic Shares Outstanding	46.06M	44.92M	46.32M	48.32M	53.87M	51.61M	58.09M	61.85M	68.25M	64.22M
Diluted Earnings per Share	($0.53)	($1.83)	($0.86)	($0.66)	($0.43)	($1.05)	($0.59)	($0.81)	($1.46)	($0.49)
Weighted Average Diluted Shares Outstanding	46.06M	44.92M	46.32M	48.32M	53.87M	51.61M	58.09M	61.85M	68.25M	64.22M
Weighted Average Basic & Diluted Shares Outstanding	46.30M	46.32M	46.53M	49.86M	57.73M	57.88M	58.69M	68.21M	68.46M	69.09M

This table details how cash moves in and out of Merus' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Net Change in Cash & Equivalents	33	25	186	-8.22	35	-42	76	-88	61	88
Net Cash From Operating Activities	-25	-27	148	-46	-63	-80	-60	-150	-142	-186
Net Cash From Continuing Operating Activities	-26	-27	148	-46	-63	-80	-60	-150	-142	-186
Net Income / (Loss) Continuing Operations	-25	-50	0.00	-28	-55	-86	-67	-131	-155	-215
Consolidated Net Income / (Loss)	-25	-50	-	-28	-55	-86	-67	-131	-155	-215
Depreciation Expense	0.21	0.25	0.38	0.65	0.90	1.17	1.25	0.98	2.33	2.29
Amortization Expense	-0.24	-	-	-0.45	-0.30	0.32	0.69	-0.10	-4.86	-4.29
Non-Cash Adjustments To Reconcile Net Income	0.56	24	148	3.62	6.77	18	-11	1.01	40	7.49
Changes in Operating Assets and Liabilities, net	-0.88	-1.46	-0.57	-22	-15	-14	16	-21	-25	24
Net Cash From Investing Activities	-0.06	-0.43	-51	-25	24	-1.49	-147	2.80	-27	-220
Net Cash From Continuing Investing Activities	-0.06	-0.43	-51	-25	24	-1.49	-147	2.80	-27	-220
Purchase of Property, Plant & Equipment	-0.11	-0.52	-0.81	-1.83	-2.22	-1.29	-0.87	-7.59	-3.98	-1.67
Acquisitions	-	-	-	-2.51	-0.38	0.00	0.00	-0.05	0.00	-0.16
Purchase of Investments	0.00	0.00	-50	-90	-60	-67	-216	-220	-235	-410
Sale and/or Maturity of Investments	0.05	0.00	0.00	69	87	67	70	230	212	192
Net Cash From Financing Activities	59	53	89	63	74	40	282	59	230	494
Net Cash From Continuing Financing Activities	59	53	89	63	74	40	282	59	230	494
Issuance of Common Equity	51	53	90	62	74	38	265	58	226	457
Other Financing Activities, net	-	0.00	-	1.04	0.05	1.45	17	1.00	4.14	37
Cash Income Taxes Paid	-	-	0.05	0.74	-0.32	-0.32	-0.64	0.00	3.10	2.80

This table details how cash moves in and out of Merus' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Net Change in Cash & Equivalents	-33	-30	-45	-1.48	141	-33	-26	454	-203	-136
Net Cash From Operating Activities	-41	-31	-37	-42	-28	-36	-44	5.63	-80	-67
Net Cash From Continuing Operating Activities	-41	-31	-37	-42	-28	-36	-44	5.63	-80	-67
Net Income / (Loss) Continuing Operations	-25	-82	-40	-32	-23	-60	-34	-50	-100	-31
Consolidated Net Income / (Loss)	-25	-82	-40	-32	-23	-60	-34	-50	-100	-31
Depreciation Expense	0.24	0.20	0.53	0.63	0.59	0.57	0.56	0.60	0.59	0.55
Amortization Expense	-0.20	-0.54	0.05	0.05	0.07	-5.03	-1.10	-0.96	-0.94	-1.29
Non-Cash Adjustments To Reconcile Net Income	-12	51	11	5.62	-4.14	28	-3.82	4.12	43	-36
Changes in Operating Assets and Liabilities, net	-4.62	0.66	-8.18	-16	-1.04	0.16	-5.57	52	-23	1.03
Net Cash From Investing Activities	-1.14	0.86	-8.41	-25	8.02	-2.12	-12	3.23	-134	-78
Net Cash From Continuing Investing Activities	-1.14	0.86	-8.44	-24	8.02	-2.12	-12	3.23	-134	-78
Purchase of Property, Plant & Equipment	-2.33	-2.06	-3.65	-0.32	-0.04	0.03	-0.06	-1.48	-0.11	-0.02
Purchase of Investments	-51	-49	-65	-79	-60	-31	-59	-40	-196	-115
Sale and/or Maturity of Investments	52	52	60	55	68	29	47	45	63	37
Net Cash From Financing Activities	9.88	-0.22	0.22	66	162	1.50	30	445	11	8.07
Net Cash From Continuing Financing Activities	9.88	-0.22	0.22	66	162	1.50	30	445	11	8.07
Other Financing Activities, net	0.15	-0.21	0.22	2.17	0.25	1.50	7.54	10	11	8.07

This table presents Merus' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Total Assets	76	236	253	263	231	457	377	455	783
Total Current Assets	75	226	243	247	218	424	306	369	569
Cash & Equivalents	60	180	165	198	163	241	148	204	293
Short-Term Investments	0.00	41	71	42	45	169	142	150	244
Accounts Receivable	2.36	5.30	3.35	2.65	1.67	6.31	4.05	2.43	1.26
Prepaid Expenses	-	-	4.73	4.95	8.57	7.45	12	12	31
Plant, Property, & Equipment, net	0.68	1.40	2.71	3.72	4.12	3.55	12	12	11
Total Noncurrent Assets	0.68	9.01	6.83	12	9.11	29	58	75	203
Long-Term Investments	0.00	8.48	0.00	2.01	0.00	20	36	57	187
Goodwill	-	-	2.86	2.88	2.84	2.35	1.95	1.80	1.68
Noncurrent Deferred & Refundable Income Taxes	-	-	0.20	0.29	0.41	0.42	2.04	1.20	1.52
Other Noncurrent Operating Assets	0.29	0.15	3.77	7.12	5.86	5.81	17	14	13
Total Liabilities & Shareholders' Equity	76	236	253	263	231	457	377	455	783
Total Liabilities	40	168	147	132	129	140	129	99	135
Total Current Liabilities	8.16	33	34	37	47	72	79	69	87
Accounts Payable	2.42	3.43	3.24	21	23	13	9.83	4.60	4.16
Accrued Expenses	3.84	10	10	14	22	23	36	38	44
Current Deferred Revenue	1.69	19	19	0.94	0.63	35	29	23	30
Current Deferred & Payable Income Tax Liabilities	-	-	-	0.00	0.21	0.00	2.40	1.65	7.32
Other Current Liabilities	-	-	0.84	1.38	1.43	1.49	1.68	1.67	1.70
Total Noncurrent Liabilities	32	135	113	95	82	69	51	30	48
Noncurrent Deferred Revenue	32	135	0.68	0.78	0.24	11	39	20	39
Other Noncurrent Operating Liabilities	-	-	-	-	-	2.26	12	10	8.21
Commitments & Contingencies	-	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	36	68	106	131	102	316	247	356	648
Total Preferred & Common Equity	36	68	106	131	102	316	247	356	648
Total Common Equity	-111	-189	106	131	102	316	247	356	648
Common Stock	1.52	2.10	362	444	493	792	876	1,132	1,672
Retained Earnings	-	-191	-259	-315	-400	-467	-598	-753	-968
Accumulated Other Comprehensive Income / (Loss)	-113	-	2.89	1.59	9.07	-9.22	-30	-23	-55

This table presents Merus' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Total Assets	415	339	364	492	498	892	845
Total Current Assets	368	258	283	405	410	807	666
Cash & Equivalents	191	103	101	242	178	629	433
Short-Term Investments	160	139	164	147	159	158	199
Accounts Receivable	2.63	4.77	2.84	3.43	59	1.84	1.13
Prepaid Expenses	14	12	15	13	14	17	33
Plant, Property, & Equipment, net	7.34	13	13	12	11	12	12
Total Noncurrent Assets	39	67	67	75	76	74	166
Long-Term Investments	21	46	47	57	61	59	151
Goodwill	1.89	1.93	1.88	1.77	1.72	1.66	1.86
Noncurrent Deferred & Refundable Income Taxes	0.44	2.37	3.06	0.70	0.28	0.54	0.84
Other Noncurrent Operating Assets	16	17	16	15	13	12	13
Total Liabilities & Shareholders' Equity	415	339	364	492	498	892	845
Total Liabilities	116	121	106	99	149	145	141
Total Current Liabilities	64	75	66	64	78	81	80
Accounts Payable	3.12	4.99	7.60	3.84	7.49	4.40	6.19
Accrued Expenses	31	40	31	36	33	41	36
Current Deferred Revenue	28	27	24	23	34	32	31
Current Deferred & Payable Income Tax Liabilities	0.00	2.27	1.35	0.14	1.82	1.61	4.88
Other Current Liabilities	1.87	1.59	1.61	1.61	1.67	1.69	1.76
Total Noncurrent Liabilities	52	46	40	34	70	65	61
Noncurrent Deferred Revenue	41	34	29	24	60	55	52
Other Noncurrent Operating Liabilities	11	12	11	11	9.85	9.33	9.28
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	299	218	257	393	349	747	703
Total Preferred & Common Equity	299	218	257	393	349	747	703
Total Common Equity	299	218	257	393	349	747	703
Common Stock	870	882	954	1,124	1,167	1,623	1,648
Retained Earnings	-516	-638	-670	-693	-788	-838	-937
Accumulated Other Comprehensive Income / (Loss)	-55	-26	-27	-37	-30	-39	-7.12

This table displays calculated financial ratios and metrics derived from Merus' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	22.92%	896.97%	45.78%	-18.88%	-3.82%	64.00%	-15.32%	5.68%	-17.78%
EBITDA Growth	0.00%	-96.82%	-57.72%	51.03%	-46.37%	-49.05%	23.04%	-104.73%	-27.80%	-42.16%
EBIT Growth	0.00%	-98.05%	-57.70%	51.02%	-47.20%	-50.07%	22.11%	-100.09%	-25.05%	-43.13%
NOPAT Growth	0.00%	-17.17%	-44.58%	-7.87%	-28.23%	-29.36%	-18.58%	-77.87%	2.18%	-73.79%
Net Income Growth	0.00%	-98.11%	-55.92%	63.62%	-94.81%	-55.05%	21.86%	-96.35%	-18.10%	-38.97%
EPS Growth	0.00%	9.37%	5.87%	62.31%	-79.53%	-28.07%	40.75%	-68.79%	-2.74%	-11.67%
Operating Cash Flow Growth	0.00%	-8.18%	647.67%	-131.09%	-36.78%	-26.73%	25.37%	-151.39%	5.13%	-30.68%
Free Cash Flow Firm Growth	0.00%	0.00%	3,458.73%	-263.23%	76.10%	-8.18%	40.15%	-236.09%	-46.09%	-26.75%
Invested Capital Growth	0.00%	0.00%	-584.05%	89.44%	6.20%	-47.33%	-151.86%	-34.42%	30.50%	-37.52%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	4.26%	13.11%	-8.86%	-3.78%	0.56%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-2.28%	17.35%	-111.66%	7.95%	11.24%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-2.52%	16.77%	-106.94%	10.11%	10.08%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	-0.40%	-23.83%	3.76%	-17.80%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-3.06%	16.85%	-106.14%	12.34%	11.95%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-8.55%	29.10%	-102.78%	20.63%	14.32%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-6.10%	-13.87%	0.72%	-4.28%	-19.49%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-26.46%	-14.59%	1.25%	-26.17%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	0.00%	0.00%	-4.68%	6.92%	-7.40%	-5.54%	4.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-1,176.73%	-1,884.10%	-298.06%	-100.11%	-180.64%	-279.95%	-131.37%	-317.60%	-384.08%	-664.09%
Operating Margin	-1,165.35%	-1,110.80%	-161.09%	-119.19%	-188.41%	-253.41%	-183.22%	-384.84%	-356.22%	-752.96%
EBIT Margin	-1,175.22%	-1,893.43%	-299.51%	-100.62%	-182.59%	-284.91%	-135.31%	-319.72%	-378.31%	-658.58%
Profit (Net Income) Margin	-1,172.69%	-1,889.92%	-295.57%	-73.77%	-177.15%	-285.59%	-136.06%	-315.48%	-352.56%	-595.93%
Tax Burden Percent	100.00%	100.00%	100.39%	100.73%	100.35%	100.59%	100.36%	100.74%	102.10%	103.93%
Interest Burden Percent	99.78%	99.81%	98.31%	72.78%	96.68%	99.65%	100.19%	97.95%	91.27%	87.06%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	0.00%	-139.39%	-149.95%	-32.57%	-46.51%	-73.22%	-31.93%	-46.58%	-51.36%	-42.88%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	0.00%	-65.72%	-50.46%	-15.78%	-22.02%	-34.50%	-19.32%	-31.92%	-39.96%	-38.44%
Return on Assets (ROA)	0.00%	-65.60%	-49.80%	-11.57%	-21.36%	-34.58%	-19.43%	-31.49%	-37.24%	-34.78%
Return on Common Equity (ROCE)	0.00%	433.56%	433.42%	15.51%	-46.51%	-73.22%	-31.93%	-46.58%	-51.36%	-42.88%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-139.39%	-114.46%	-26.74%	-42.00%	-83.62%	-21.13%	-53.10%	-43.48%	-33.23%
Net Operating Profit after Tax (NOPAT)	-18	-21	-30	-32	-41	-53	-63	-112	-110	-190
NOPAT Margin	-815.75%	-777.56%	-112.76%	-83.43%	-131.89%	-177.39%	-128.26%	-269.39%	-249.35%	-527.07%
Net Nonoperating Expense Percent (NNEP)	0.00%	-98.95%	-33.36%	2.11%	-10.43%	-23.73%	-1.53%	-5.46%	-12.29%	-4.38%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	-45.34%	-30.75%	-29.39%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	38.85%	169.64%	62.50%	76.49%	109.56%	119.50%	83.28%	125.52%	136.15%	229.24%
R&D to Revenue	818.46%	734.02%	155.72%	142.70%	178.85%	233.91%	199.95%	359.31%	320.06%	623.72%
Operating Expenses to Revenue	1,265.35%	1,210.80%	261.09%	219.19%	288.41%	353.41%	283.22%	484.84%	456.22%	852.96%
Earnings before Interest and Taxes (EBIT)	-25	-50	-79	-39	-57	-85	-66	-133	-166	-238
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	-50	-78	-38	-56	-84	-65	-132	-169	-240
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	2.57	2.50	4.99	3.90	2.90	4.46	4.44
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	2.64	2.56	5.13	3.93	2.92	4.48	4.45
Price to Revenue (P/Rev)	0.00	0.00	0.00	7.09	10.56	17.03	25.13	17.22	36.13	79.68
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	0.00	1.00	2.92	10.18	16.36	9.37	26.76	59.64
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.01	0.00	0.02	0.03	0.02	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.01	0.00	0.02	0.03	0.02	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-1.66	-2.78	-2.03	-1.14	-1.17	-1.20	-1.25	-1.22	-1.13
Leverage Ratio	0.00	2.12	3.01	2.82	2.18	2.12	1.64	1.48	1.38	1.23
Compound Leverage Factor	0.00	2.12	2.96	2.05	2.10	2.11	1.65	1.45	1.26	1.07
Debt to Total Capital	0.00%	1.41%	0.00%	1.72%	2.86%	2.41%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.92%	0.00%	1.72%	2.86%	2.41%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	405.24%	377.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-306.65%	-277.47%	98.28%	97.14%	97.59%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	-0.01	0.00	-0.05	-0.07	-0.03	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	1.19	0.00	6.08	4.23	2.45	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-0.01	0.00	-0.05	-0.07	-0.03	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	-0.02	0.00	-0.06	-0.09	-0.05	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	2.89	0.00	7.29	5.79	3.86	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-0.02	0.00	-0.06	-0.09	-0.05	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	0.00	0.00	0.32	0.19	-0.25	4.40	0.77	6.97	10.87
Noncontrolling Interest Sharing Ratio	0.00%	411.03%	389.05%	147.61%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.00	9.16	6.80	7.17	6.72	4.66	5.90	3.88	5.34	6.54
Quick Ratio	0.00	7.63	6.80	7.03	6.59	4.48	5.80	3.73	5.16	6.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	3.03	108	-176	-42	-46	-27	-92	-134	-170
Operating Cash Flow to CapEx	-22,360.22%	-5,188.10%	18,366.38%	-2,513.41%	-2,836.17%	-6,208.31%	-6,853.68%	-1,975.73%	-3,571.25%	-11,147.87%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-211.36	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-462.22	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-468.97	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.03	0.17	0.16	0.12	0.12	0.14	0.10	0.11	0.06
Accounts Receivable Turnover	0.00	1.12	6.87	8.87	10.37	13.86	12.32	8.03	13.56	19.58
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	3.87	25.26	18.68	9.70	7.65	12.82	5.27	3.61	3.16
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	326.90	53.14	41.14	35.19	26.34	29.64	45.45	26.91	18.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	326.90	53.14	41.14	35.19	26.34	29.64	45.45	26.91	18.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	0.00	-24	-161	-17	-16	-24	-59	-80	-55	-76
Invested Capital Turnover	0.00	-0.22	-0.29	-0.43	-1.89	-1.52	-1.19	-0.60	-0.65	-0.55
Increase / (Decrease) in Invested Capital	0.00	-24	-138	144	1.06	-7.56	-36	-20	24	-21
Enterprise Value (EV)	0.00	0.00	0.00	39	91	305	803	390	1,176	2,155
Market Capitalization	0.00	0.00	0.00	272	329	510	1,234	716	1,588	2,879
Book Value per Share	$0.00	$0.00	($9.71)	$5.45	$5.62	$3.52	$8.15	$5.34	$6.17	$9.46
Tangible Book Value per Share	$0.00	$0.00	($9.73)	$5.30	$5.50	$3.42	$8.09	$5.29	$6.14	$9.44
Total Capital	0.00	36	68	108	135	105	316	247	356	648
Total Debt	0.00	0.51	0.00	1.85	3.87	2.52	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.34	0.00	1.85	3.87	2.52	0.00	0.00	0.00	0.00
Net Debt	0.00	-59	-229	-234	-238	-205	-431	-327	-412	-724
Capital Expenditures (CapEx)	0.11	0.52	0.81	1.83	2.22	1.29	0.87	7.59	3.98	1.67
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	6.85	-28	-26	-29	-37	-58	-63	-55	-55
Debt-free Net Working Capital (DFNWC)	0.00	67	193	209	211	171	352	228	300	482
Net Working Capital (NWC)	0.00	67	193	209	211	171	352	228	300	482
Net Nonoperating Expense (NNE)	7.67	29	48	-3.71	14	32	3.83	19	45	25
Net Nonoperating Obligations (NNO)	0.00	-59	-229	-123	-147	-126	-375	-327	-412	-724
Total Depreciation and Amortization (D&A)	-0.03	0.25	0.38	0.20	0.61	1.48	1.94	0.88	-2.53	-1.99
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	259.28%	-106.08%	-67.42%	-93.74%	-121.93%	-118.40%	-150.80%	-124.36%	-152.30%
Debt-free Net Working Capital to Revenue	0.00%	2,526.89%	732.26%	545.82%	676.39%	571.91%	717.37%	547.10%	682.01%	1,333.95%
Net Working Capital to Revenue	0.00%	2,520.24%	732.26%	545.82%	676.39%	571.91%	717.37%	547.10%	682.01%	1,333.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($3.80)	($1.09)	($2.28)	($2.92)	($1.73)	($2.92)	($3.00)	($3.35)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	19.43M	23.36M	29.00M	38.13M	43.48M	44.92M	51.61M	64.22M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($3.80)	($1.09)	($2.28)	($2.92)	($1.73)	($2.92)	($3.00)	($3.35)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	19.43M	23.36M	29.00M	38.13M	43.48M	44.92M	51.61M	64.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($3.80)	($1.09)	($2.28)	($2.92)	($1.73)	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	19.43M	23.36M	24.22M	29.26M	38.64M	46.32M	57.88M	69.09M
Normalized Net Operating Profit after Tax (NOPAT)	-18	-21	-30	-32	-41	-53	-63	-112	-110	-190
Normalized NOPAT Margin	-815.75%	-777.56%	-112.76%	-83.43%	-131.89%	-177.39%	-128.26%	-269.39%	-249.35%	-527.07%
Pre Tax Income Margin	-1,172.69%	-1,889.92%	-294.43%	-73.23%	-176.52%	-283.91%	-135.58%	-313.17%	-345.30%	-573.37%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-515.10	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-488.24	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-521.85	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	-494.99	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	-0.48%	0.00%	0.00%	0.00%	0.00%	-0.43%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Merus' official financial filings.

Metric	Q3 2022	Q4 2022	Q1 2023	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024
Growth Metrics	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-51.85%	-27.49%	15.82%	-17.41%	67.65%	-16.19%	-41.56%	-30.01%	6.70%	2.25%
EBITDA Growth	-74.85%	-509.33%	-128.14%	-508.18%	-2.56%	17.50%	6.70%	-69.05%	-317.48%	44.17%
EBIT Growth	-69.51%	-480.11%	-123.42%	-465.08%	-5.02%	22.53%	9.29%	-64.56%	-305.75%	41.46%
NOPAT Growth	-114.01%	-134.69%	-35.75%	-8.93%	20.39%	11.41%	-27.36%	-89.98%	-88.26%	-86.47%
Net Income Growth	-65.72%	-468.42%	-110.35%	-460.61%	6.51%	26.62%	13.30%	-56.22%	-334.14%	48.59%
EPS Growth	-35.90%	-422.86%	-100.00%	-407.69%	18.87%	42.62%	31.40%	-22.73%	-239.53%	53.33%
Operating Cash Flow Growth	-78.79%	3.44%	20.81%	-31.05%	33.27%	-19.13%	-20.81%	113.55%	-192.13%	-83.39%
Free Cash Flow Firm Growth	-191.45%	-187.11%	-3,346.02%	-124.75%	-108.97%	-235.23%	-24.95%	101.03%	51.86%	28.27%
Invested Capital Growth	-16.50%	-34.42%	19.57%	22.87%	29.27%	30.50%	29.51%	-83.98%	-51.84%	-37.52%
Revenue Q/Q Growth	-48.12%	62.07%	26.56%	-22.39%	5.32%	-18.98%	-11.75%	-7.06%	60.56%	-22.36%
EBITDA Q/Q Growth	-367.69%	-231.90%	50.09%	21.50%	21.13%	-167.00%	40.16%	-42.23%	-94.76%	64.29%
EBIT Q/Q Growth	-326.41%	-230.04%	49.18%	21.00%	20.75%	-143.47%	40.49%	-43.32%	-95.39%	64.87%
NOPAT Q/Q Growth	-54.93%	-11.35%	31.51%	7.80%	-13.23%	-23.91%	1.54%	-37.52%	-12.21%	-22.73%
Net Income Q/Q Growth	-330.78%	-233.02%	51.52%	19.40%	28.16%	-161.40%	42.72%	-45.23%	-99.64%	69.05%
EPS Q/Q Growth	-307.69%	-245.28%	53.01%	23.26%	34.85%	-144.19%	43.81%	-37.29%	-80.25%	66.44%
Operating Cash Flow Q/Q Growth	-30.01%	26.04%	-20.42%	-13.18%	33.80%	-32.03%	-22.12%	112.69%	-1,527.69%	17.11%
Free Cash Flow Firm Q/Q Growth	-31.32%	26.10%	-148.74%	6.89%	-22.10%	-18.55%	7.29%	100.76%	-5,826.70%	-76.65%
Invested Capital Q/Q Growth	-5.63%	-7.40%	12.32%	22.45%	3.14%	-5.54%	11.08%	-102.40%	20.06%	4.42%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	-381.63%	-781.52%	-308.21%	-311.75%	-233.45%	-769.33%	-492.04%	-753.01%	-913.45%	-420.10%
Operating Margin	-732.34%	-503.12%	-272.26%	-323.45%	-347.76%	-531.85%	-593.35%	-877.99%	-613.59%	-969.93%
EBIT Margin	-382.22%	-778.35%	-312.56%	-318.19%	-239.43%	-719.48%	-485.17%	-748.16%	-910.48%	-411.95%
Profit (Net Income) Margin	-374.03%	-768.54%	-294.40%	-305.78%	-208.57%	-672.93%	-436.76%	-682.52%	-848.67%	-338.33%
Tax Burden Percent	101.35%	100.47%	98.86%	104.89%	105.11%	101.75%	103.29%	104.85%	103.07%	106.03%
Interest Burden Percent	96.56%	98.27%	95.27%	91.62%	82.88%	91.92%	87.15%	87.00%	90.43%	77.46%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-25.23%	-46.58%	-59.05%	-61.08%	-51.07%	-51.36%	-52.79%	-33.39%	-44.60%	-42.88%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-45.25%	-77.70%	-35.91%	-32.45%	-24.11%	-76.00%	-44.47%	-41.93%	-48.94%	-24.04%
Return on Assets (ROA)	-44.28%	-76.72%	-33.82%	-31.18%	-21.00%	-71.09%	-40.03%	-38.25%	-45.62%	-19.75%
Return on Common Equity (ROCE)	-25.23%	-46.58%	-59.05%	-61.08%	-51.07%	-51.36%	-52.79%	-33.39%	-44.60%	-42.88%
Return on Equity Simple (ROE_SIMPLE)	-21.30%	0.00%	-69.90%	-69.29%	-44.93%	0.00%	-42.83%	-22.45%	-34.77%	0.00%
Net Operating Profit after Tax (NOPAT)	-34	-38	-26	-24	-27	-33	-33	-45	-51	-62
NOPAT Margin	-512.63%	-352.19%	-190.58%	-226.42%	-243.43%	-372.29%	-415.34%	-614.59%	-429.51%	-678.95%
Net Nonoperating Expense Percent (NNEP)	2.84%	-12.65%	-4.17%	-2.35%	0.94%	-7.28%	-0.49%	-0.86%	-8.03%	5.48%
Return On Investment Capital (ROIC_SIMPLE)	-	-15.20%	-	-	-	-9.34%	-	-	-	-9.58%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	189.47%	143.29%	113.98%	153.33%	114.12%	176.71%	204.26%	308.06%	176.39%	255.65%
R&D to Revenue	642.87%	459.84%	258.28%	270.12%	333.64%	455.14%	489.09%	669.93%	537.20%	814.29%
Operating Expenses to Revenue	832.34%	603.12%	372.26%	423.45%	447.76%	631.85%	693.35%	977.99%	713.59%	1,069.93%
Earnings before Interest and Taxes (EBIT)	-25	-83	-42	-33	-26	-64	-38	-55	-107	-38
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-25	-83	-42	-33	-26	-69	-39	-55	-108	-38
Valuation Ratios	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.08	2.90	3.92	4.76	2.99	4.46	7.44	4.65	4.85	4.44
Price to Tangible Book Value (P/TBV)	3.10	2.92	3.95	4.79	3.00	4.48	7.48	4.66	4.86	4.45
Price to Revenue (P/Rev)	20.14	17.22	19.62	29.72	25.74	36.13	67.81	98.67	94.84	79.68
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	11.97	9.37	13.01	22.16	15.98	26.76	57.41	74.62	73.05	59.64
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-1.27	-1.25	-1.30	-1.21	-1.18	-1.22	-1.21	-1.15	-1.12	-1.13
Leverage Ratio	1.53	1.48	1.47	1.38	1.31	1.38	1.48	1.25	1.22	1.23
Compound Leverage Factor	1.48	1.45	1.40	1.27	1.09	1.27	1.29	1.09	1.10	0.96
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.79	1.20	1.95	4.87	5.91	7.71	8.90	13.82	13.36	11.71
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.74	3.88	3.44	4.30	6.29	5.34	5.23	9.97	8.32	6.54
Quick Ratio	11.04	3.73	3.28	4.07	6.09	5.16	5.05	9.76	7.91	6.18
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-23	-17	-43	-40	-49	-58	-53	0.41	-23	-41
Operating Cash Flow to CapEx	-1,769.88%	-1,484.05%	-1,006.11%	-13,118.61%	-70,589.74%	0.00%	-70,457.14%	381.64%	-74,464.81%	-333,290.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.12	0.10	0.11	0.10	0.10	0.11	0.09	0.06	0.05	0.06
Accounts Receivable Turnover	15.56	8.03	11.67	12.25	15.07	13.56	1.21	15.05	15.73	19.58
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	8.46	5.27	5.14	4.29	4.68	3.61	3.10	2.80	2.95	3.16
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	23.46	45.45	31.26	29.80	24.22	26.91	302.26	24.26	23.20	18.64
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	23.46	45.45	31.26	29.80	24.22	26.91	302.26	24.26	23.20	18.64
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-
Invested Capital	-74	-80	-70	-54	-52	-55	-49	-100	-80	-76
Invested Capital Turnover	-0.66	-0.60	-0.55	-0.66	-0.72	-0.65	-0.64	-0.46	-0.54	-0.55
Increase / (Decrease) in Invested Capital	-10	-20	17	16	22	24	21	-45	-27	-21
Enterprise Value (EV)	546	390	565	914	730	1,176	2,201	2,626	2,625	2,155
Market Capitalization	919	716	852	1,225	1,176	1,588	2,600	3,473	3,408	2,879
Book Value per Share	$6.51	$5.34	$4.70	$5.53	$7.89	$6.17	$6.02	$12.72	$10.31	$9.46
Tangible Book Value per Share	$6.47	$5.29	$4.65	$5.49	$7.85	$6.14	$5.99	$12.70	$10.28	$9.44
Total Capital	299	247	218	257	393	356	349	747	703	648
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-373	-327	-287	-312	-446	-412	-399	-846	-783	-724
Capital Expenditures (CapEx)	2.33	2.06	3.65	0.32	0.04	-0.03	0.06	1.48	0.11	0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-47	-63	-58	-48	-48	-55	-5.72	-62	-46	-55
Debt-free Net Working Capital (DFNWC)	304	228	183	217	341	300	332	726	586	482
Net Working Capital (NWC)	304	228	183	217	341	300	332	726	586	482
Net Nonoperating Expense (NNE)	-9.12	44	14	8.31	-3.85	27	1.69	4.98	49	-31
Net Nonoperating Obligations (NNO)	-373	-327	-287	-312	-446	-412	-399	-846	-783	-724
Total Depreciation and Amortization (D&A)	0.04	-0.34	0.59	0.68	0.66	-4.46	-0.54	-0.36	-0.35	-0.75
Debt-free, Cash-free Net Working Capital to Revenue	-103.87%	-150.80%	-133.92%	-115.88%	-105.22%	-124.36%	-14.93%	-175.42%	-128.21%	-152.30%
Debt-free Net Working Capital to Revenue	666.35%	547.10%	421.55%	527.09%	745.53%	682.01%	865.41%	2,062.03%	1,631.41%	1,333.95%
Net Working Capital to Revenue	666.35%	547.10%	421.55%	527.09%	745.53%	682.01%	865.41%	2,062.03%	1,631.41%	1,333.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.53)	($1.83)	($0.86)	($0.66)	($0.43)	($1.05)	($0.59)	($0.81)	($1.46)	($0.49)
Adjusted Weighted Average Basic Shares Outstanding	46.06M	44.92M	46.32M	48.32M	53.87M	51.61M	58.09M	61.85M	68.25M	64.22M
Adjusted Diluted Earnings per Share	($0.53)	($1.83)	($0.86)	($0.66)	($0.43)	($1.05)	($0.59)	($0.81)	($1.46)	($0.49)
Adjusted Weighted Average Diluted Shares Outstanding	46.06M	44.92M	46.32M	48.32M	53.87M	51.61M	58.09M	61.85M	68.25M	64.22M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	46.30M	46.32M	46.53M	49.86M	57.73M	57.88M	58.69M	68.21M	68.46M	69.09M
Normalized Net Operating Profit after Tax (NOPAT)	-34	-38	-26	-24	-27	-33	-33	-45	-51	-62
Normalized NOPAT Margin	-512.63%	-352.19%	-190.58%	-226.42%	-243.43%	-372.29%	-415.34%	-614.59%	-429.51%	-678.95%
Pre Tax Income Margin	-369.06%	-764.91%	-297.79%	-291.51%	-198.44%	-661.33%	-422.84%	-650.91%	-823.38%	-319.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.36%	0.00%	0.00%	0.00%	0.13%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Merus' Financials

When does Merus's financial year end?

According to the most recent income statement we have on file, Merus' fiscal year ends in December. Their fiscal year 2024 ended on December 31, 2024.

How has Merus' net income changed over the last 9 years?

Merus' net income appears to be on an upward trend, with a most recent value of -$215.33 million in 2024, rising from -$25.19 million in 2015. The previous period was -$154.94 million in 2023.

What is Merus's operating income?

Merus's total operating income in 2024 was -$272.07 million, based on the following breakdown:

Total Gross Profit: $36.13 million
Total Operating Expenses: $308.20 million

How has Merus revenue changed over the last 9 years?

Over the last 9 years, Merus' total revenue changed from $2.15 million in 2015 to $36.13 million in 2024, a change of 1,582.1%.

How much debt does Merus have?

Merus' total liabilities were at $134.77 million at the end of 2024, a 35.9% increase from 2023, and a 234.7% increase since 2016.

How much cash does Merus have?

In the past 8 years, Merus' cash and equivalents has ranged from $59.88 million in 2016 to $293.29 million in 2024, and is currently $293.29 million as of their latest financial filing in 2024.

How has Merus' book value per share changed over the last 9 years?

Over the last 9 years, Merus' book value per share changed from 0.00 in 2015 to 9.46 in 2024, a change of 946.4%.

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This page (NASDAQ:MRUS) was last updated on 4/21/2025 by MarketBeat.com Staff

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Merus (MRUS) Financials

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Merus (MRUS) Financials

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