CERS Healthcare

Cerus Corporation

$2.34-0.85%

Price as of close on Nov 3, 2026 · Financials updated Nov 2, 2026

Basics

Sector: Healthcare
Industry: Medical Devices
Country: United States
Market cap: 471.6M USD
Enterprise value: 492.8M USD
Full-time employees: 261

Overall health

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: higher risk than most peers: its share price swings more than most peers’ (beta 1.85 vs a peer median of 0.63) and more debt relative to equity (1.09× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.85 vs peers 0.63) and more debt vs equity (1.09× vs peers 0.22×)
About average: growth

Ranks #932 of 1,157 healthcare companies (bottom 20%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 13% from December 2022 to July 2026.
Cerus had 13% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Cerus had 13% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Operating loss narrowing. Operating margin -3.7% in 2025, the smallest loss relative to revenue of the last 6 years.
Cerus still lost money on operations in 2025 (margin -3.7%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Cerus 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.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Cerus reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

StockQuotient Score

33/ 100▼ 1 since Oct 27 close

Oct 5 34 → Nov 4 33 (-1)

Valuation

Is the price right?

29/100

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-1.4%

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 yield0.0%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield-0.4%

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 yield14.8%

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

Growth

Is it growing?

59/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 2.0%

Why

Helped by:

▲ 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 growth8.4%

Yahoo Finance fallback · SEC figure unavailable or out of date · 3 fiscal years to Dec 2025Reported value33% base weight · Z-score 0.30Sector median: 0.0584 · MAD: 0.0840

Revenue growth14.3%

Yahoo Finance fallback · SEC figure unavailable or out of date · fiscal year to Dec 2025Reported value33% base weight · Z-score 0.85Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

34/100

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-0.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.63Sector median: 0.0706 · MAD: 0.1217

Return on assets-3.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.93Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-2.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.71Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin52.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-9.7%

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

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

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

Beta1.85

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.63Sector median: 0.6250 · MAD: 0.3380

Current ratio1.83×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.54Sector median: 2.5860 · MAD: 1.3850

Debt / equity1.09×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -4.24Sector 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 Cerus

Is Cerus getting weaker?: Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 33/100, down 1 since Oct 28, 2026.
How is Cerus valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 29/100 against 1,393 healthcare peers. Earnings yield -1.4% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -1.4% vs peers 1.5% (weaker than 100% of peers).
Is Cerus growing?: At about the same pace as its peers. Growth scores 59/100 against 1,393 healthcare peers. Revenue growth 14.3% vs a peer median of 6.1% (stronger than 70% of peers).Revenue growth 14.3% vs peers 6.1% (stronger than 70% of peers).
How profitable is Cerus?: Less profitable than most of its peers. Profitability scores 34/100 against 1,393 healthcare peers. Operating margin -0.6% vs a peer median of 7.1% (weaker than 68% of peers).Operating margin -0.6% vs peers 7.1% (weaker than 68% of peers).
How risky is Cerus?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.85 vs a peer median of 0.63 (weaker than 93% of peers).Beta 1.85 vs peers 0.63 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

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

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	244.2M USD	249.2M USD	+2.0%
Net income (12 months)	−9.6M USD	−6.8M USD	−29.0%
Operating margin	-1.3%	-0.6%	+0.7 pts
Free cash flow (12 months)	−1.2M USD	−1.8M USD	+50.2%
Cash	27.9M USD	18.0M USD	−35.4%
Shares outstanding	200.4M	201.5M	+0.6%

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

Industry valuation context

Industry: Medical Devices · 33 companies

Valuations in Medical Devices are near the bottom of their range since 2016.

7% of months since 2016 were valued lower than now.
4% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values −8% and earnings +33% (medians): earnings grew faster than prices.
Median price-to-sales is +20% vs the whole market, against a usual +109%.

2016Shaded: most expensive fifth of its range2026

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	-30.7%	-18.1%	-16.1%	-7.1%	-3.7%	▲ 3.4 pts
Net margin	-34.1%	-22.7%	-20.1%	-10.4%	-6.7%	▲ 3.7 pts
Return on assets (ROA)	-22.9%	-19.6%	-19.0%	-10.4%	-7.0%	▲ 3.4 pts
Return on equity (ROE)	-64.3%	-63.3%	-71.2%	-37.3%	-24.3%	▲ 13 pts
Free cash flow margin	-21.8%	-14.7%	-25.6%	4.2%	0.5%	▼ 3.8 pts
Current ratio	2.38×	1.45×	2.14×	2.39×	1.73×	▼ 28%
Quick ratio	2.04×	1.21×	1.55×	1.79×	1.17×	▼ 34%
Interest coverage	-9.94×	-5.84×	-3.58×	-1.60×	-1.04×	▲ 35%

CERS 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

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: higher risk than most peers: its share price swings more than most peers’ (beta 1.85 vs a peer median of 0.63) and more debt relative to equity (1.09× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.85 vs peers 0.63) and more debt vs equity (1.09× vs peers 0.22×)

About average: growth

Ranks #932 of 1,157 healthcare companies (bottom 20%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 13% from December 2022 to July 2026.

Cerus had 13% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Cerus had 13% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Operating loss narrowing. Operating margin -3.7% in 2025, the smallest loss relative to revenue of the last 6 years.

Cerus still lost money on operations in 2025 (margin -3.7%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.

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

Relative to its free cash flow, Cerus 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.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Cerus reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Questions investors ask about Cerus

Is Cerus getting weaker?

Its latest SEC filing (Jul 30, 2026) showed no major changes. Its overall score is 33/100, down 1 since Oct 28, 2026.

How is Cerus valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 29/100 against 1,393 healthcare peers. Earnings yield -1.4% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -1.4% vs peers 1.5% (weaker than 100% of peers).

Is Cerus growing?

At about the same pace as its peers. Growth scores 59/100 against 1,393 healthcare peers. Revenue growth 14.3% vs a peer median of 6.1% (stronger than 70% of peers).Revenue growth 14.3% vs peers 6.1% (stronger than 70% of peers).

How profitable is Cerus?

Less profitable than most of its peers. Profitability scores 34/100 against 1,393 healthcare peers. Operating margin -0.6% vs a peer median of 7.1% (weaker than 68% of peers).Operating margin -0.6% vs peers 7.1% (weaker than 68% of peers).

How risky is Cerus?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 1.85 vs a peer median of 0.63 (weaker than 93% of peers).Beta 1.85 vs peers 0.63 (weaker than 93% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

244.2M USD

249.2M USD

+2.0%

Net income (12 months)

−9.6M USD

−6.8M USD

−29.0%

Operating margin

-1.3%

-0.6%

+0.7 pts

Free cash flow (12 months)

−1.2M USD

−1.8M USD

+50.2%

Cash

27.9M USD

18.0M USD

−35.4%

Shares outstanding

200.4M

201.5M

+0.6%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-30.7%

-18.1%

-16.1%

-7.1%

-3.7%

▲ 3.4 pts

Net margin

-34.1%

-22.7%

-20.1%

-10.4%

-6.7%

▲ 3.7 pts

Return on assets (ROA)

-22.9%

-19.6%

-19.0%

-10.4%

-7.0%

▲ 3.4 pts

Return on equity (ROE)

-64.3%

-63.3%

-71.2%

-37.3%

-24.3%

▲ 13 pts

Free cash flow margin

-21.8%

-14.7%

-25.6%

4.2%

0.5%

▼ 3.8 pts

Current ratio

2.38×

1.45×

2.14×

2.39×

1.73×

▼ 28%

Quick ratio

2.04×

1.21×

1.55×

1.79×

1.17×

▼ 34%

Interest coverage

-9.94×

-5.84×

-3.58×

-1.60×

-1.04×

▲ 35%