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Annexon, Inc.

ANNX

$5.39 ▼ -0.21 (-3.75%) at close

8 Visible periods

21 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Annexon, Inc. faces fundamental challenges with weakness in Return on Common Equity (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $836.0M

Dividend Yield —

Revenue Growth —

Op. Margin —

ROIC -102.2% ↘

FCF / Share $-1.20 ↘

Trailing P/E —

Price / Book 3.8x

FCF Yield —

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

8-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Net Income Profit after all expenses

$-206.69M

↓ -49.6% —

FCF / Share Free cash flow per share

$-1.20

↓ -40.0% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Return on Common Equity (%)Return on Common Equity (%) is in the bottom quartile

Health Breakdown

Returns ↓

Cash Quality ↑

Dividend History

Dividend / share · sourced from SEC filings

$0.00 Latest / share

FY 2018

FY 2019

FY 2020

FY 2021

$0.00

FY 2022

$0.00

FY 2023

FY 2024

$0.00

FY 2025

Financial view

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📈 Is growth accelerating? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
EPS Growth YoY (%)	-32.7% Weak ↓ Weak Declining Year-over-year change in earnings per share Optimal: > 10%	42.9% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	31.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	23.5% Good Good Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—
Net Income Growth YoY (%)	-49.6% Weak ↓ Weak Declining Year-over-year change in net income	-3.0% Weak ↑ Weak Improving Year-over-year change in net income	5.4% Fair ↑ Fair Improving Year-over-year change in net income	-8.9% Weak ↑ Weak Improving Year-over-year change in net income	-105.5% Weak Weak Year-over-year change in net income	-70.5% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	-40.0% Weak ↓ Weak Declining Year-over-year change in free cash flow	46.4% Excellent ↑ Excellent Improving Year-over-year change in free cash flow	28.6% Excellent Excellent Year-over-year change in free cash flow	20.1% Good Good Year-over-year change in free cash flow	—	—	—	—

💰 Are margins durable? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Effective Tax Rate (%) (%)	0.0% Excellent → Excellent Stable Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—	—	—	—	—
FCF / Net Income (x)	0.90x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.85x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.90x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.87x Caution ↑ Caution Improving Free cash flow relative to reported net income Optimal: > 1x	0.83x Caution → Caution Stable Free cash flow relative to reported net income Optimal: > 1x	0.84x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	0.77x Caution Caution Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Return on Invested Capital (%)	-102.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-52.6% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-57.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-49.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-44.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-14.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	25.6% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-78.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-44.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-48.3% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-51.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-45.5% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-17.8% Weak Weak Operating profit relative to total assets Optimal: > 10%	-65.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	-97.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-751%)	-47.2% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-414%)	-53.6% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-457%)	-61.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-509%)	-56.2% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-475%)	-18.4% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-223%)	37.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+147%)	—

⚖️ Is the balance sheet risky? 1 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Net Debt (USD)	$-162.05M	$-49.50M	$-225.11M	$-140.02M	$-74.84M	$-268.56M	$-43.93M	$-44.17M

📊 What does each share earn? 7 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Basic EPS, GAAP (USD)	$-1.34	$-1.01	$-1.77	$-2.60	$-3.40	—	—	—
Free Cash Flow per Share (USD)	$-1.20	$-0.86	$-1.60	$-2.25	$-2.81	—	—	—
Dividend per Share (USD)	$0.00	—	$0.00	$0.00	—	—	—	—
Book Value per Share (USD)	$1.42	$2.68	$3.20	$4.84	$6.01	$9.02	$-231.59	—
Tangible Book Value per Share (USD)	$1.42	$2.68	$3.20	$4.84	$6.01	$9.02	$-231.59	—
Basic Weighted Avg Shares (shares)	155.11M	137.40M	75.67M	54.67M	38.32M	—	—	—
Dividend Payout Ratio (%)	0.0% Excellent → Excellent Stable Dividends paid as a percentage of earnings Optimal: 30-60%	—	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	0.0% Excellent Excellent Dividends paid as a percentage of earnings Optimal: 30-60%	—	—	—	—

🏦 How resilient is the balance sheet? 2 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Working Capital (USD)	$199.56M	$285.95M	$245.93M	$225.74M	$225.95M	$343.39M	$40.48M	—
Total Equity (USD)	$211.65M	$293.11M	$250.56M	$231.19M	$231.91M	$344.28M	$-100.45M	$-64.20M

📋 What is driving earnings? 3 metrics

Metric	FY 2025 Dec 31, 2025 10-K ↗	FY 2024 Dec 31, 2024 10-K ↗	FY 2023 Dec 31, 2023 10-K ↗	FY 2022 Dec 31, 2022 10-K ↗	FY 2021 Dec 31, 2021 10-K ↗	FY 2020 Dec 31, 2020 10-K ↗	FY 2019 Dec 31, 2019 10-K ↗	FY 2018 Dec 31, 2018 10-K ↗
Depreciation Expense (USD)	$2.17M	$2.15M	$2.15M	$2.11M	$2.14M	$667.00K	$493.00K	—
Net Income, GAAP (USD)	$-206.69M	$-138.20M	$-134.24M	$-141.95M	$-130.32M	$-63.41M	$-37.18M	—
Operating Cash Flow (USD)	$-186.36M	$-118.01M	$-121.14M	$-116.31M	$-106.11M	$-53.09M	$-28.36M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 8 years · 30 quarters

Annexon, Inc.

Analytical Summary

8-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Dividend History

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Signals

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