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Seres Therapeutics, Inc.

MCRB Clue Score46
United States Fiscal year ends December CIK 0001609809
$2.71 +3.04% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $2.71 −57.85% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue21.8Operating income−92.8Net income−91.6Fiscal year 2017Revenue32.1 +47.5%Operating income−91.4Net income−89.4Fiscal year 2018Revenue26.9 −16.1%Operating income−100.3Net income−98.9Fiscal year 2019Revenue27.2 +1.0%Operating income−71.9Net income−70.3Fiscal year 2020Revenue11.9 −56.2%Operating income−88.1Net income−89.1EPS, diluted−1.12Fiscal year 2021Revenue143.9 +1,109.2%Operating income−64.5Net income−65.6EPS, diluted−0.72Fiscal year 2022Revenue7.1 −95.0%Operating income−179.9Net income−250.2EPS, diluted−2.31Fiscal year 2023Revenue0.0 −100.0%Operating income−195.1Net income−113.7EPS, diluted−17.77Fiscal year 2024Revenue0.0Operating income−121.3Net income0.1EPS, diluted0.00Fiscal year 2025Revenue0.8Operating income−94.0Net income5.7 +4,088.2%EPS, diluted0.64
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 21.8 32.1 26.9 27.2 11.9 143.9 7.1 0.0 0.0 0.8
Growth +47.5% −16.1% +1.0% −56.2% +1,109.2% −95.0% −100.0%
Operating income −92.8 −91.4 −100.3 −71.9 −88.1 −64.5 −179.9 −195.1 −121.3 −94.0
Net income −91.6 −89.4 −98.9 −70.3 −89.1 −65.6 −250.2 −113.7 0.1 5.7
Growth +4,088.2%
EPS, diluted n/a n/a n/a n/a −1.12 −0.72 −2.31 −17.77 0.00 0.64

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin−426.5%Net margin−420.7%Free cash flow margin103.0%Fiscal year 2017Operating margin−284.7%Net margin−278.4%Free cash flow margin−249.8%Fiscal year 2018Operating margin−372.6%Net margin−367.6%Free cash flow margin−240.7%Fiscal year 2019Operating margin−264.4%Net margin−258.5%Free cash flow margin−285.1%Fiscal year 2020Operating margin−740.8%Net margin−749.2%Free cash flow margin−791.8%Fiscal year 2021Operating margin−44.8%Net margin−45.6%Free cash flow margin−2.0%Fiscal year 2022Operating margin−2,524.0%Net margin−3,509.5%Free cash flow margin−3,347.9%Fiscal year 2023Fiscal year 2024Fiscal year 2025Operating margin−11,910.1%Net margin721.9%Free cash flow margin109.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin −426.5% −284.7% −372.6% −264.4% −740.8% −44.8% −2,524.0% n/a n/a −11,910.1%
Net margin −420.7% −278.4% −367.6% −258.5% −749.2% −45.6% −3,509.5% n/a n/a 721.9%
Free cash flow margin 103.0% −249.8% −240.7% −285.1% −791.8% −2.0% −3,347.9% n/a n/a 109.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow43.9Capital expenditure−21.5Free cash flow22.4Fiscal year 2017Operating cash flow−75.5Capital expenditure−4.7Free cash flow−80.2 −457.6%Buybacks−0.0Fiscal year 2018Operating cash flow−62.9Capital expenditure−1.9Free cash flow−64.8Fiscal year 2019Operating cash flow−76.5Capital expenditure−1.0Free cash flow−77.5Fiscal year 2020Operating cash flow−93.6Capital expenditure−0.6Free cash flow−94.2Fiscal year 2021Operating cash flow6.7Capital expenditure−9.6Free cash flow−2.9Fiscal year 2022Operating cash flow−228.8Capital expenditure−9.8Free cash flow−238.6Fiscal year 2023Operating cash flow−117.4Capital expenditure−8.0Free cash flow−125.3Fiscal year 2024Operating cash flow−148.6Capital expenditure−0.4Free cash flow−149.0Fiscal year 2025Operating cash flow1.1Capital expenditure−0.3Free cash flow0.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 43.9 −75.5 −62.9 −76.5 −93.6 6.7 −228.8 −117.4 −148.6 1.1
Capital expenditure −21.5 −4.7 −1.9 −1.0 −0.6 −9.6 −9.8 −8.0 −0.4 −0.3
Free cash flow 22.4 −80.2 −64.8 −77.5 −94.2 −2.9 −238.6 −125.3 −149.0 0.9
Growth −457.6%
Buybacks n/a −0.0 n/a n/a n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash54.5Shareholders’ equity132.6Fiscal year 2017Cash36.1Shareholders’ equity60.7Fiscal year 2018Cash85.8Shareholders’ equity−48.0Fiscal year 2019Cash65.1Total debt25.0Net cash (debt)40.1Shareholders’ equity−48.3Fiscal year 2020Cash116.0Total debt25.0Net cash (debt)91.0Shareholders’ equity174.8Debt to equity0.14Fiscal year 2021Cash180.0Total debt24.1Net cash (debt)156.0Shareholders’ equity131.5Debt to equity0.18Fiscal year 2022Cash163.0Total debt50.0Net cash (debt)113.0Shareholders’ equity10.8Debt to equity4.64Fiscal year 2023Cash128.0Total debt110.0Net cash (debt)18.0Shareholders’ equity−44.9Fiscal year 2024Cash30.8Shareholders’ equity13.8Fiscal year 2025Cash45.8Shareholders’ equity44.2
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 54.5 36.1 85.8 65.1 116.0 180.0 163.0 128.0 30.8 45.8
Total debt n/a n/a n/a 25.0 25.0 24.1 50.0 110.0 n/a n/a
Net cash (debt) n/a n/a n/a 40.1 91.0 156.0 113.0 18.0 n/a n/a
Shareholders’ equity 132.6 60.7 −48.0 −48.3 174.8 131.5 10.8 −44.9 13.8 44.2
Debt to equity n/a n/a n/a n/a 0.14 0.18 4.64 n/a n/a n/a

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Cash flow

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023† 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Operations
43.9 −75.5 −62.9 −76.5 −93.6 6.7 −228.8 −117.4 −148.6 1.1
Growth −272.0% −3,521.3%
4.2 7.3 7.9 7.6 6.6 5.9 6.6 6.2 5.5 4.1
Investment
−21.5 −4.7 −1.9 −1.0 −0.6 −9.6 −9.8 −8.0 −0.4 −0.3
calc 22.4 −80.2 −64.8 −77.5 −94.2 −2.9 −238.6 −125.3 −149.0 0.9
Growth −457.6%
calc n/a n/a n/a n/a −1.18 −0.03 −2.21 −19.58 −19.18 0.10
−65.6 55.7 112.3 −30.5 −158.9 64.1 82.4 10.6 142.3 −0.0
Financing
2.1 0.1 0.3 86.2 303.4 1.2 129.6 71.7 −90.4 13.9
n/a −0.0 n/a n/a n/a n/a n/a n/a n/a n/a

† The diluted share count jumps at 2023, so per-share figures either side of that column are not comparable. Usually a split, but the break lands on the restatement boundary rather than on the split date, because every column is that period’s latest filing.

Lines marked calc are worked out here from filed figures; point at one for how. Capital expenditure, dividends and buybacks are shown as money out, so negative.