CGEN COMPUGEN LTD

Overview and Growth

COMPUGEN LTD generated $72.76M of revenue in fiscal 2025, with net income of $35.34M and an operating cash inflow of $31.63M. Revenue of $72.76M sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $27.86M in fiscal 2024, revenue recorded a 161.1% year-over-year increase. The company reported diluted EPS of $0.38, adding a shareholder-level measure to the absolute income figures considered below. The revenue-to-assets relationship was 0.46x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $63.51M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. Gross margin was 87.3%, so that share of each revenue unit remained after the cost of revenue reported for the period. The reported operating result was $31.33M, capturing profitability after direct costs and the operating expenses reflected in the statements. Relative to revenue, operating income represented 43.1%, showing how efficiently sales converted into operating profit. Net income came to $35.34M, completing the progression from revenue through gross and operating profitability to the final reported result. The final earnings result represented 48.6% of revenue, connecting the absolute net income figure with the company’s top-line scale. The earnings statement records $35.40M of pretax income, the profit base against which the reported tax provision can be assessed. Pretax income represented 48.6% of revenue, placing earnings before tax in the context of the company’s operating scale. Income tax expense totaled $54.00K, providing the reported tax component that separates pretax and after-tax earnings. The effective relationship between income tax and positive pretax income was 0.2%, without assuming a statutory-rate comparison. Return on period-end equity was 34.4%, relating annual net income to the equity capital on the balance sheet. Return on period-end assets was 22.6%, connecting net income with the company’s total asset base.

Liquidity and Capital Structure

At period end, the $156.57M asset base was financed through $53.84M of liabilities and $102.73M of equity. The near-term balance sheet paired $148.02M of current assets with $22.57M of current liabilities at the reporting date. Current assets covered current liabilities by 6.56x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $90.60M, identifying the most liquid reported component available within the broader current-asset balance. Measured only with cash and equivalents, coverage of current liabilities was 401.4%, excluding receivables and other current assets. The liabilities-to-assets relationship was 34.4%, placing reported obligations against the full positive asset balance. Measured against total assets, cash and equivalents represented 57.9%, a balance-sheet composition measure rather than a liquidity forecast. Compared with $115.00M in fiscal 2024, the current asset base moved 36.2% and finished higher. Reported equity changed 87.1% from $54.91M in fiscal 2024, placing the current capital base higher year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $31.63M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Operating cash flow equaled 0.9x of net income, showing how strongly accounting earnings converted into cash from operations. The cash-flow statement records $306.00K of capital expenditures, the investment amount considered after operating cash generation. Capital spending absorbed 1.0% of operating cash flow, quantifying the share of cash from operations directed to investment. After capital spending, free cash flow was $31.33M, leaving cash available for debt reduction, shareholder returns, or further investment. The free-cash-flow margin was 43.1%, measuring cash remaining after capital spending against revenue. Measured against total assets, free cash flow represented 20.0%, showing the cash productivity of the company’s assets.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Sep 24, 2026.