ABCL Healthcare

AbCellera Biologics Inc.

$12.18+9.53%

Price as of close on Nov 3, 2026 · Financials updated Oct 31, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: Canada
Market cap: 3.9B USD
Enterprise value: 3.3B USD
Full-time employees: 562

Overall health

Strength: growing faster than most peersgrowing faster than peers
Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.41 vs a peer median of 0.63)bigger price swings (beta 1.41 vs peers 0.63)

Ranks #689 of 1,157 healthcare companies (bottom 41%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 74% of revenue in 2025.
AbCellera Biologics paid employees $56M in stock in 2025, 74% of its $75M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Investment surge. Capital spending 57% of revenue, up from 15% in 2022.
AbCellera Biologics is spending 57% of revenue on facilities and equipment, up from 15% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, AbCellera Biologics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -340%).

StockQuotient Score

47/ 100

Oct 5 47 → Nov 4 47

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-4.1%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-6.0%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-3.0%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield22.5%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

84/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 16.5%

Why

Stronger than most peers on:

▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.29Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth-23.0%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -3.44Sector median: 0.0584 · MAD: 0.0840

Revenue growth101.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 9.77Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

10/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROIC
▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-340.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -28.54Sector median: 0.0706 · MAD: 0.1217

Return on assets-12.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.66Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-22.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.75Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin-198.9%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-18.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Lower

Lower relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 88 → 87

Company's reported figures updated-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Stronger than most peers on:

▲ Current ratio
▲ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.41

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.32Sector median: 0.6250 · MAD: 0.3380

Current ratio12.77×

SEC filings · latest balance sheetReported value33% base weight · Z-score 7.35Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.15×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.34Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about AbCellera Biologics

Is AbCellera Biologics getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: 12-month revenue fell 16.5%. Its overall score is unchanged at 47/100 since Oct 28, 2026.
How is AbCellera Biologics valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -4.1% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -4.1% vs peers 1.5% (weaker than 100% of peers).
Is AbCellera Biologics growing?: Yes, faster than most of its peers. Growth scores 84/100 against 1,393 healthcare peers. Revenue growth 101.3% vs a peer median of 6.1% (stronger than 95% of peers).Revenue growth 101.3% vs peers 6.1% (stronger than 95% of peers). 3-year revenue growth -23.0% vs a peer median of 5.8% (weaker than 95% of peers).3-year revenue growth -23.0% vs peers 5.8% (weaker than 95% of peers).
How profitable is AbCellera Biologics?: Less profitable than most of its peers. Profitability scores 10/100 against 1,393 healthcare peers. Operating margin -340.3% vs a peer median of 7.1% (weaker than 92% of peers).Operating margin -340.3% vs peers 7.1% (weaker than 92% of peers).
How risky is AbCellera Biologics?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 12.77× vs a peer median of 2.59× (stronger than 91% of peers).Current ratio 12.77× vs peers 2.59× (stronger than 91% of peers). Beta 1.41 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.41 vs peers 0.63 (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

12-month revenue fell 16.5%

Worth watching: AbCellera Biologics is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	79.2M USD	66.2M USD	−16.5%
Net income (12 months)	−144.0M USD	−164.7M USD	+14.4%
Operating margin	-267.6%	-340.3%	−72.7 pts
Free cash flow (12 months)	−189.2M USD	−119.7M USD	−36.8%
Cash	77.1M USD	120.1M USD	+55.8%
Shares outstanding	305.4M	306.6M	+0.4%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Operating margin	54.5%	44.6%	-623.8%	-1091.7%	-289.0%	▲ 803 pts
Net margin	40.9%	32.7%	-385.0%	-564.8%	-194.9%	▲ 370 pts
Return on assets (ROA)	11.6%	10.3%	-9.8%	-12.0%	-10.8%	▲ 1.2 pts
Return on equity (ROE)	15.0%	12.9%	-12.7%	-15.4%	-15.1%	▲ 0.3 pts
Free cash flow margin	49.6%	42.6%	-317.7%	-648.4%	-231.7%	▲ 417 pts
Current ratio	7.70×	8.67×	7.33×	9.81×	11.32×	▲ 15%
Quick ratio	—	—	—	9.81×	11.23×	▲ 14%

ABCL price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Strength: lower risk than most peers: more short-term liquiditylower risk: more liquidity

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.41 vs a peer median of 0.63)bigger price swings (beta 1.41 vs peers 0.63)

Ranks #689 of 1,157 healthcare companies (bottom 41%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 74% of revenue in 2025.

AbCellera Biologics paid employees $56M in stock in 2025, 74% of its $75M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Investment surge. Capital spending 57% of revenue, up from 15% in 2022.

AbCellera Biologics is spending 57% of revenue on facilities and equipment, up from 15% in 2022. That weighs on free cash flow today; whether it pays off depends on the returns those investments earn.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, AbCellera Biologics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Growing fast, still losing money. Revenue grew faster than 95% of peers, at an operating loss.

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -340%).

Questions investors ask about AbCellera Biologics

Is AbCellera Biologics getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: 12-month revenue fell 16.5%. Its overall score is unchanged at 47/100 since Oct 28, 2026.

How is AbCellera Biologics valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -4.1% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -4.1% vs peers 1.5% (weaker than 100% of peers).

Is AbCellera Biologics growing?

Yes, faster than most of its peers. Growth scores 84/100 against 1,393 healthcare peers. Revenue growth 101.3% vs a peer median of 6.1% (stronger than 95% of peers).Revenue growth 101.3% vs peers 6.1% (stronger than 95% of peers). 3-year revenue growth -23.0% vs a peer median of 5.8% (weaker than 95% of peers).3-year revenue growth -23.0% vs peers 5.8% (weaker than 95% of peers).

How profitable is AbCellera Biologics?

Less profitable than most of its peers. Profitability scores 10/100 against 1,393 healthcare peers. Operating margin -340.3% vs a peer median of 7.1% (weaker than 92% of peers).Operating margin -340.3% vs peers 7.1% (weaker than 92% of peers).

How risky is AbCellera Biologics?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 12.77× vs a peer median of 2.59× (stronger than 91% of peers).Current ratio 12.77× vs peers 2.59× (stronger than 91% of peers). Beta 1.41 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.41 vs peers 0.63 (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

79.2M USD

66.2M USD

−16.5%

Net income (12 months)

−144.0M USD

−164.7M USD

+14.4%

Operating margin

-267.6%

-340.3%

−72.7 pts

Free cash flow (12 months)

−189.2M USD

−119.7M USD

−36.8%

Cash

77.1M USD

120.1M USD

+55.8%

Shares outstanding

305.4M

306.6M

+0.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

54.5%

44.6%

-623.8%

-1091.7%

-289.0%

▲ 803 pts

Net margin

40.9%

32.7%

-385.0%

-564.8%

-194.9%

▲ 370 pts

Return on assets (ROA)

11.6%

10.3%

-9.8%

-12.0%

-10.8%

▲ 1.2 pts

Return on equity (ROE)

15.0%

12.9%

-12.7%

-15.4%

-15.1%

▲ 0.3 pts

Free cash flow margin

49.6%

42.6%

-317.7%

-648.4%

-231.7%

▲ 417 pts

Current ratio

7.70×

8.67×

7.33×

9.81×

11.32×

▲ 15%

Quick ratio

—

9.81×

11.23×

▲ 14%