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Ocugen, Inc.

OCGN

$0.81 ▼ -0.07 (-7.78%) at close

13 Visible periods

28 Metrics

Peer-ranked Benchmarks

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Health

Excellent

Bullish

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Analytical Summary

Ocugen, Inc. shows strong fundamentals with top-quartile Debt to Equity. The company's metrics support a bullish outlook for growth-oriented investors.

Market Cap —

Dividend Yield —

Revenue Growth 8.8% ↗

Op. Margin —

ROIC -409.2% ↘

FCF / Share None

Trailing P/E —

Price / Book —

FCF Yield —

Debt / Equity -2.26

info Valuation on last close. End-of-day price, Nov 5, 2026.

13-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$4.41M

↑ +8.8% —

Net Income Profit after all expenses

$-67.85M

↓ -25.5% —

FCF / Share Free cash flow per share

$-0.30

↑ +1.3% —

Long-Term Debt Long-term obligations

$27.54M

↑ +0.7% —

trending_up

Bullish Indicators

Debt to EquityDebt to Equity is in the top quartile (lower is better)

warning

Bearish Risks

No bearish risks detected.

Health Breakdown

Financial Health

100

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Financial view

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📈 Is growth accelerating? 6 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue Growth YoY (%)	8.8% Fair ↓ Fair Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+10%)	-32.8% Weak Weak Year-over-year change in total revenue Optimal: > 10% vs Sector: Below avg (-510%)	142.6% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+1683%)	—	N/M	—	—	—	—	—	—	—	—
EPS Growth YoY (%)	—	—	35.0% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-33.3% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	3.2% Caution Caution Year-over-year change in earnings per share Optimal: > 10%	—	—	76.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-2.1% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	59.9% Excellent Excellent Year-over-year change in earnings per share Optimal: > 10%	—	—	—
Net Income Growth YoY (%)	-25.5% Weak ↓ Weak Declining Year-over-year change in net income	14.3% Fair ↑ Fair Improving Year-over-year change in net income	27.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-48.7% Weak ↑ Weak Improving Year-over-year change in net income	-167.5% Weak ↓ Weak Declining Year-over-year change in net income	-7.8% Weak ↑ Weak Improving Year-over-year change in net income	-134.2% Weak ↓ Weak Declining Year-over-year change in net income	67.3% Excellent ↑ Excellent Improving Year-over-year change in net income	-63.0% Weak ↓ Weak Declining Year-over-year change in net income	49.4% Excellent Excellent Year-over-year change in net income	-40.5% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	—	—	1.3% Caution ↑ Caution Improving Year-over-year change in free cash flow	-20.0% Weak Weak Year-over-year change in free cash flow	-87.3% Weak Weak Year-over-year change in free cash flow	—	—	52.4% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—
Revenue CAGR 3Y (%)	21.0% Excellent Excellent Compound annual revenue growth over 3 years	—	419.7% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—	—	—	—	—	—	—
Revenue CAGR 5Y (%)	152.5% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—	—	—	—	—	—	—

💰 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 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 Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.0% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	0.1% 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)	0.84x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.84x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	1.15x Fair ↑ Fair Improving Free cash flow relative to reported net income Optimal: > 1x	0.74x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.84x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	0.69x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.84x Caution ↓ Caution Declining Free cash flow relative to reported net income Optimal: > 1x	2.06x Excellent Excellent Free cash flow relative to reported net income Optimal: > 1x	0.88x 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Return on Invested Capital (%)	-409.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-96.1% Weak → Weak Stable Return earned on debt + equity capital invested Optimal: > 10%	-127.8% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-101.3% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-59.4% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-90.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-92.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	5193.3% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	174.9% Excellent ↑ Excellent Improving Return earned on debt + equity capital invested Optimal: > 10%	-176.5% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-89.1% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	-47.6% Weak Weak Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-144.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-66.4% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-87.7% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-76.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-54.9% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-77.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-84.3% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-172.8% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-226.1% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-84.0% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-86.5% Weak Weak Operating profit relative to total assets Optimal: > 10%	-49.9% Weak Weak Operating profit relative to total assets Optimal: > 10%	—
Return on Common Equity (%) (%)	—	-182.4% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1316%)	-126.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-944%)	-101.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-775%)	-60.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-506%)	-101.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-775%)	-183.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-1325%)	—	234.4% Excellent ↑ Excellent Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+1463%)	-119.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-896%)	-113.6% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-857%)	-42.0% Weak Weak Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-380%)	—

⚖️ Is the balance sheet risky? 4 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Debt to Equity (x)	-2.26x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-477%)	0.92x Fair ↑ Fair Improving Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+54%)	0.03x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-95%)	0.03x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-96%)	0.02x Excellent ↓ Excellent Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-97%)	0.11x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-82%)	0.10x Excellent Excellent Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Below avg (-84%)	—	—	—	—	—	—
Interest Coverage (x)	—	—	—	—	-734.53x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-29.52x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-8.01x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-30108.00x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-831.67x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-505.12x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-239.24x Weak Weak Operating income divided by interest expense Optimal: > 5x	-216.30x Weak Weak Operating income divided by interest expense Optimal: > 5x	—
Net Debt (USD)	$27.54M	$27.34M	$-51.98M	$-99.34M	$-93.25M	$-21.75M	$-6.37M	$-15.54M	$-7.08M	$-31.91M	$-30.91M	$-58.53M	$-8.73M
Debt / EBITDA (x)	-0.46x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.52x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.02x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.03x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.03x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.11x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-0.08x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—	—

📊 What does each share earn? 6 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Revenue per Share (USD)	—	—	$0.02	$0.01	$0.00	$0.00	—	$0.00	$0.00	$0.00	$0.00	—	—
Basic EPS, GAAP (USD)	—	—	$-0.26	$-0.40	$-0.30	$-0.31	—	$-0.23	$-0.99	$-0.97	$-2.42	—	—
Free Cash Flow per Share (USD)	—	—	$-0.30	$-0.30	$-0.25	$-0.13	—	$-0.49	$-1.03	—	—	—	—
Book Value per Share (USD)	$-0.04	$0.10	$0.19	$0.39	$0.48	$0.12	$0.21	$-0.01	$-0.46	$0.66	$2.12	$4.25	—
Tangible Book Value per Share (USD)	$-0.04	$0.10	$0.19	$0.39	$0.48	$0.12	$0.21	$-0.01	$-0.46	$0.66	$2.12	$4.25	—
Basic Weighted Avg Shares (shares)	—	—	244.33M	214.60M	195.01M	112.24M	—	36.40M	22.67M	14.26M	13.23M	—	—

🏦 How resilient is the balance sheet? 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Working Capital (USD)	$1.30M	$40.09M	$36.83M	$82.97M	$95.65M	$22.26M	$11.22M	$13.53M	$4.37M	$26.91M	$24.88M	$51.72M	—
LT Debt (USD)	$27.54M	$27.34M	$1.50M	$2.27M	$1.71M	$2.06M	$1.07M	—	—	—	—	—	—
Total Equity (USD)	$-12.17M	$29.63M	$49.80M	$85.69M	$95.82M	$21.55M	$11.02M	$-458.00K	$-11.27M	$13.57M	$28.20M	$54.21M	$-75.55M

📋 What is driving earnings? 4 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 ↗	FY 2017 Dec 31, 2017 10-K ↗	FY 2016 Dec 31, 2016 10-K ↗	FY 2015 Dec 31, 2015 10-K ↗	FY 2014 Dec 31, 2014 10-K ↗	FY 2013 Dec 31, 2013 10-K ↗
Sales/Revenue/Turnover (USD)	$4.41M	$4.05M	$6.04M	$2.49M	$0.00	$43.00K	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	—
Depreciation Expense (USD)	$2.40M	$1.90M	—	—	$200.00K	$100.00K	$60.61K	$450.00K	$1.53M	$1.67M	$1.61M	$726.00K	—
Net Income, GAAP (USD)	$-67.85M	$-54.05M	$-63.08M	$-86.80M	$-58.37M	$-21.82M	$-20.24M	$-8.64M	$-26.41M	$-16.21M	$-32.02M	$-22.79M	—
Operating Cash Flow (USD)	$-56.96M	$-42.14M	$-62.05M	$-60.08M	$-47.94M	$-14.71M	$-16.89M	$-15.78M	$-23.02M	—	—	—	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 4 days ago 13 years · 51 quarters

Ocugen, Inc.

Analytical Summary

13-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

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