NASDAQ : PHVS
Pharvaris N.V. — Financial statements
Healthcare · Biotechnology · Switzerland
Last price 33.58 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 2.36B
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Financial statements
Income statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Selling, General & Admin | 53.21M | 45.34M | 47.12M | 31.34M | 29.34M | 18.35M |
| Research & Development | 129.12M | 124.48M | 98.56M | 65.58M | 57.38M | 35.79M |
| Operating Expenses | 182.32M | 169.82M | 145.69M | 96.91M | 86.71M | 54.14M |
| Operating Income | -182.32M | -169.82M | -145.69M | -96.91M | -86.71M | -54.14M |
| Interest Expense | -172.86K | -172.86K | -46.91K | -20.48K | -16.11K | -267.51K |
| Interest & Investment Income | 7.99M | 6.54M | 5.47M | 224.49K | ||
| Currency Exchange Gain (Loss) | 6.04M | -10.25M | 7.87M | -3.12M | 11.10M | 11.76M |
| Other Non Operating Income (Expenses) | -94.92K | -23.15K | -14.99K | |||
| Pretax Income | -168.56M | -173.71M | -132.40M | -99.83M | -75.65M | -42.66M |
| Income Tax Expense | 2.36M | 1.99M | 1.83M | 1.05M | 679.09K | 70.12K |
| Net Income | -170.92M | -175.70M | -134.22M | -100.88M | -76.33M | -42.73M |
| Net Income to Common | -170.92M | -175.70M | -134.22M | -100.88M | -76.33M | -42.73M |
| Shares Outstanding (Basic) | 65.21M | 59.16M | 54.02M | 38.39M | 33.59M | 30.41M |
| Shares Outstanding (Diluted) | 65.21M | 59.16M | 54.02M | 38.39M | 33.59M | 30.41M |
| EPS (Basic) | -2.62 | -2.97 | -2.48 | -2.63 | -2.27 | -1.41 |
| EPS (Diluted) | -2.62 | -2.97 | -2.48 | -2.63 | -2.27 | -1.41 |
| Free Cash Flow | -155.29M | -137.24M | -120.67M | -93.14M | -67.29M | -44.73M |
| Free Cash Flow Per Share | -2.38 | -2.32 | -2.23 | -2.43 | -2.00 | -1.47 |
| EBITDA | -182.17M | -169.63M | -145.59M | -96.66M | -86.56M | -54.06M |
| D&A For EBITDA | 157.68K | 189.15K | 94.76K | 257.55K | 152.94K | 77.37K |
| EBIT | -182.32M | -169.82M | -145.69M | -96.91M | -86.71M | -54.14M |
Balance sheet
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 318.28M | 291.68M | 280.73M | 391.23M | 161.84M | 209.35M |
| Cash & Short-Term Investments | 318.28M | 291.68M | 280.73M | 391.23M | 161.84M | 209.35M |
| Accounts Receivable | 8.45K | |||||
| Other Receivables | 5.27M | 4.55M | 2.94M | 1.04M | 382.47K | 691.63K |
| Receivables | 5.27M | 4.55M | 2.94M | 1.04M | 382.47K | 700.08K |
| Prepaid Expenses | 3.33M | 2.94M | 5.75M | 4.96M | 4.04M | 1.51M |
| Other Current Assets | 620.82K | 582.59K | 5.70K | |||
| Total Current Assets | 326.88M | 299.17M | 289.42M | 397.85M | 166.85M | 211.57M |
| Property, Plant & Equipment | 1.21M | 1.40M | 1.48M | 455.57K | 626.44K | 351.35K |
| Long-Term Deferred Tax Assets | 579.11K | 887.35K | 474.35K | 387.53K | 259.80K | 172.05K |
| Total Assets | 328.67M | 301.45M | 291.37M | 398.69M | 167.73M | 212.09M |
| Accounts Payable | 2.79M | 5.11M | 4.56M | 2.91M | 5.98M | 2.13M |
| Accrued Expenses | 24.39M | 23.35M | 17.59M | 11.07M | 11.60M | 4.64M |
| Current Portion of Leases | 192.40K | 200.21K | 222.43K | 195.34K | 187.40K | 99.43K |
| Current Income Taxes Payable | 941.21K | 601.25K | 429.92K | 461.30K | 126.16K | |
| Total Current Liabilities | 27.38M | 29.60M | 22.97M | 14.60M | 18.22M | 6.99M |
| Long-Term Leases | 481.33K | 576.59K | 639.04K | 43.56K | 249.42K | 150.75K |
| Total Liabilities | 27.86M | 30.18M | 23.61M | 14.65M | 18.47M | 7.14M |
| Common Stock | 8.42M | 7.83M | 6.53M | 6.27M | 4.06M | 3.98M |
| Additional Paid-In Capital | 905.06M | 792.55M | 623.64M | 615.81M | 289.18M | 278.74M |
| Retained Earnings | -668.58M | -579.60M | -402.26M | -265.92M | -164.19M | -87.57M |
| Comprehensive Income & Other | 55.90M | 50.50M | 39.85M | 27.88M | 20.21M | 9.80M |
| Total Common Equity | 300.81M | 271.27M | 267.76M | 384.05M | 149.26M | 204.95M |
| Shareholders' Equity | 300.81M | 271.27M | 267.76M | 384.05M | 149.26M | 204.95M |
| Total Liabilities & Equity | 328.67M | 301.45M | 291.37M | 398.69M | 167.73M | 212.09M |
| Total Debt | 673.73K | 776.80K | 861.47K | 238.91K | 436.82K | 250.18K |
| Net Cash (Debt) | 317.61M | 290.90M | 279.87M | 390.99M | 161.40M | 209.10M |
| Net Cash Per Share | 4.87 | 4.92 | 5.18 | 10.18 | 4.81 | 6.88 |
| Filing Date Shares Outstanding | 70.20M | 65.41M | 54.49M | 53.82M | 33.82M | 33.15M |
| Total Common Shares Outstanding | 70.20M | 65.21M | 54.38M | 52.29M | 33.82M | 33.15M |
| Working Capital | 299.50M | 269.56M | 266.44M | 383.25M | 148.62M | 204.58M |
| Book Value Per Share | 4.28 | 4.16 | 4.92 | 7.34 | 4.41 | 6.18 |
| Tangible Book Value | 300.81M | 271.27M | 267.76M | 384.05M | 149.26M | 204.95M |
| Tangible Book Value Per Share | 4.28 | 4.16 | 4.92 | 7.34 | 4.41 | 6.18 |
| Machinery | 1.13M | 1.05M | 887.14K | 349.05K | 259.00K | 134.70K |
Cash flow statement
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -170.92M | -175.70M | -134.22M | -100.88M | -76.33M | -42.73M |
| Depreciation & Amortization | 494.05K | 418.35K | 269.56K | 257.55K | 152.94K | 77.37K |
| Stock-Based Compensation | 20.95M | 19.05M | 16.21M | 10.66M | 11.35M | 8.20M |
| Other Operating Activities | -8.55M | 11.53M | -8.28M | 2.77M | -10.71M | -11.72M |
| Change in Accounts Receivable | -614.40K | -331.34K | -34.32K | -41.05K | 317.61K | -130.50K |
| Change in Accounts Payable | -6.28M | -25.91K | 1.65M | -4.17M | 3.91M | 1.66M |
| Change in Other Net Operating Assets | 9.72M | 7.98M | 4.27M | -1.65M | 4.15M | 43.12K |
| Operating Cash Flow | -155.19M | -137.07M | -120.13M | -93.05M | -67.16M | -44.60M |
| Capital Expenditures | -99.26K | -164.62K | -538.09K | -89.98K | -124.30K | -130.03K |
| Investing Cash Flow | -99.26K | -164.62K | -538.09K | -89.98K | -124.30K | -130.03K |
| Long-Term Debt Repaid | -219.01K | -159.66K | -220.51K | -119.53K | ||
| Lease Payments | -214.76K | -219.01K | -159.66K | -220.51K | -119.53K | |
| Net Debt Issued (Repaid) | -214.76K | -219.01K | -159.66K | -220.51K | -119.53K | |
| Issuance of Common Stock | 284.83M | 171.74M | 2.24M | 342.91M | 9.61M | 156.83M |
| Other Financing Activities | -18.10M | -10.91M | 592.00K | -17.30M | -839.97K | -13.15M |
| Financing Cash Flow | 266.52M | 160.61M | 2.68M | 325.39M | 8.65M | 143.67M |
| Foreign Exchange Rate Adjustments | 7.48M | -12.42M | 7.49M | -2.86M | 11.12M | 11.78M |
| Net Cash Flow | 118.71M | 10.95M | -110.50M | 229.39M | -47.52M | 110.72M |
| Free Cash Flow | -155.29M | -137.24M | -120.67M | -93.14M | -67.29M | -44.73M |
| Free Cash Flow Per Share | -2.38 | -2.32 | -2.23 | -2.43 | -2.00 | -1.47 |
| Levered Free Cash Flow | -90.36M | -79.09M | -68.87M | -54.99M | -34.47M | -24.08M |
| Unlevered Free Cash Flow | -90.25M | -78.98M | -68.84M | -54.98M | -34.46M | -23.91M |
| Free Cash Flow After Leases | -155.50M | -137.46M | -120.83M | -93.36M | -67.41M | -44.73M |
| Cash Income Tax Paid | 3.96M | 2.17M | 2.77M | 1.11M | 182.82K | 27.61K |
| Change in Working Capital | 2.83M | 7.62M | 5.89M | -5.86M | 8.38M | 1.58M |
Ratios
Fiscal year January - December; amounts in EUR.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 2.35B | 1.80B | 1.04B | 1.46B | 380.11M | 476.72M |
| Enterprise Value | 1.99B | 1.42B | 699.39M | 1.29B | 186.42M | 211.09M |
| Last Close Price | 33.53 | 27.75 | 19.17 | 28.05 | 11.25 | 14.39 |
| PB Ratio | 6.85 | 5.66 | 3.75 | 3.44 | 2.38 | 2.04 |
| P/TBV Ratio | 6.85 | 5.66 | 3.75 | 3.44 | 2.38 | 2.04 |
| Debt / Equity Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Net Debt / Equity Ratio | -1.06 | -1.07 | -1.04 | -1.02 | -1.08 | -1.02 |
| Net Debt / EBITDA Ratio | 1.74 | 1.72 | 1.92 | 4.04 | 1.86 | 3.87 |
| Net Debt / FCF Ratio | 2.04 | 2.12 | 2.32 | 4.20 | 2.40 | 4.67 |
| Quick Ratio | 11.82 | 10.01 | 12.35 | 26.86 | 8.90 | 30.07 |
| Current Ratio | 11.94 | 10.11 | 12.60 | 27.25 | 9.15 | 30.28 |
| Return on Equity (ROE) | -70.46% | -65.19% | -41.18% | -37.83% | -43.10% | -28.42% |
| Return on Assets (ROA) | -42.32% | -35.81% | -26.39% | -21.39% | -28.54% | -21.61% |
| Return on Capital Employed (ROCE) | -60.50% | -62.50% | -54.30% | -25.20% | -58.00% | -26.40% |
| Earnings Yield | -8.93% | -11.44% | -13.37% | -7.63% | -21.46% | -10.19% |
| FCF Yield | -7.37% | -8.94% | -12.02% | -7.04% | -18.92% | -10.67% |
| Buyback Yield / Dilution | -19.89% | -9.51% | -40.71% | -14.31% | -10.44% | -527.05% |