DNA Healthcare

Ginkgo Bioworks Holdings, Inc.

$10.76+9.24%

Price as of close on Nov 3, 2026 · Financials updated Oct 8, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 724.6M USD
Enterprise value: 826.5M USD
Full-time employees: 485

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.79 vs a peer median of 0.63) and more debt relative to equity (0.96× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.79 vs peers 0.63) and more debt vs equity (0.96× vs peers 0.22×)
About average: valuation

Ranks #1,115 of 1,157 healthcare companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.
Ginkgo Bioworks reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.
Shareholders being diluted. Shares outstanding up 35% from December 2022 to June 2026.
Ginkgo Bioworks had 35% more shares at June 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.Ginkgo Bioworks had 35% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Stock-based pay is a large cost. Stock pay was 48% of revenue in 2025.
Ginkgo Bioworks paid employees $82M in stock in 2025, 48% of its $170M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.
Ginkgo Bioworks's fiscal-year revenue declined in each of the three years to 2025.

StockQuotient Score

19/ 100

Oct 5 19 → Nov 4 19

Valuation

Is the price right?

45/100

Moderate▲ 1 since Oct 27 close

3/3 inputs reported · High confidence

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

Why it changed since the Oct 27, 2026 close: Score 44 → 45

Peer companies moved+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

Mixed versus peers:

▲ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

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

Earnings yield3.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 1.13Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-31.7%

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-25.5%

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 yield61.3%

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

Growth

Is it growing?

2/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 12.5%

Why

Weaker than most peers on:

▼ EPS growth
▼ 3-yr revenue
▼ 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 growth-91.9%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -2.79Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth-25.9%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -3.70Sector median: 0.0584 · MAD: 0.0840

Revenue growth-37.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -4.42Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

13/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin-231.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -19.57Sector median: 0.0706 · MAD: 0.1217

Return on assets2.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.10Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-72.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -7.64Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin68.0%

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 equity5.2%

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

Compare with peers

Behind the score

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

Beta1.79

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -3.46Sector median: 0.6250 · MAD: 0.3380

Current ratio4.57×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.43Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.96×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score -3.63Sector 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 Ginkgo Bioworks

Is Ginkgo Bioworks getting weaker?: Its latest SEC filing (Aug 6, 2026) got weaker in some ways: 12-month revenue fell 12.5%. Its overall score is unchanged at 19/100 since Oct 28, 2026.
How is Ginkgo Bioworks valued vs its peers?: Priced about in line with its peers. Valuation scores 45/100 against 1,393 healthcare peers. Earnings yield 3.2% vs a peer median of 1.5% (stronger than 63% of peers).Earnings yield 3.2% vs peers 1.5% (stronger than 63% of peers). EBITDA yield -31.7% vs a peer median of 4.0% (weaker than 100% of peers).EBITDA yield -31.7% vs peers 4.0% (weaker than 100% of peers).
Is Ginkgo Bioworks growing?: More slowly than most of its peers. Growth scores 2/100 against 1,393 healthcare peers. Earnings per share growth -91.9% vs a peer median of 9.8% (weaker than 100% of peers).Earnings per share growth -91.9% vs peers 9.8% (weaker than 100% of peers).
How profitable is Ginkgo Bioworks?: Less profitable than most of its peers. Profitability scores 13/100 against 1,393 healthcare peers. Return on invested capital -72.0% vs a peer median of 4.7% (weaker than 91% of peers).Return on invested capital -72.0% vs peers 4.7% (weaker than 91% of peers).
How risky is Ginkgo Bioworks?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.57× vs a peer median of 2.59× (stronger than 70% of peers).Current ratio 4.57× vs peers 2.59× (stronger than 70% of peers). Beta 1.79 vs a peer median of 0.63 (weaker than 92% of peers).Beta 1.79 vs peers 0.63 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

12-month revenue fell 12.5%

Worth watching: Ginkgo Bioworks 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)	151.4M USD	132.4M USD	−12.5%
Net income (12 months)	8.1M USD	21.6M USD	+168.7%
Operating margin	-201.9%	-231.1%	−29.2 pts
Free cash flow (12 months)	−168.2M USD	−174.8M USD	+3.9%
Cash	143.9M USD	84.5M USD	−41.2%

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

Industry valuation context

Industry: Biotechnology · 132 companies

Valuations in Biotechnology are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +530% vs the whole market, against a usual +637%.

2016Shaded: most expensive fifth of its range2026

Earnings-based measures are left out for now because many companies in Biotechnology are losing money.

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	-582.6%	-462.4%	-343.8%	-246.5%	-185.3%	▲ 61 pts
Net margin	-583.1%	-440.6%	-355.1%	-240.9%	-183.8%	▲ 57 pts
Return on assets (ROA)	-88.4%	-82.9%	-53.6%	-39.7%	-27.9%	▲ 12 pts
Return on equity (ROE)	-121.6%	-121.2%	-81.4%	-76.4%	-61.5%	▲ 15 pts
Free cash flow margin	-98.9%	-63.7%	-133.7%	-168.3%	-105.0%	▲ 63 pts
Current ratio	12.79×	8.38×	6.11×	5.62×	4.92×	▼ 13%
Quick ratio	12.76×	8.36×	6.11×	—	—	—
Interest coverage	-770.53×	-20839.17×	-9294.69×	-5954.86×	—	—

DNA price history

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

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.79 vs a peer median of 0.63) and more debt relative to equity (0.96× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.79 vs peers 0.63) and more debt vs equity (0.96× vs peers 0.22×)

About average: valuation

Ranks #1,115 of 1,157 healthcare companies (bottom 4%)

See how it ranks against its peers

Worth knowing

Profitable, but burning cash. Reports a profit, but free cash flow is negative.

Ginkgo Bioworks reports a profit but its free cash flow is negative: it spent more on investment and running the business than it brought in. That's common for companies building capacity, but it means the profit isn't yet turning into cash.

Shareholders being diluted. Shares outstanding up 35% from December 2022 to June 2026.

Ginkgo Bioworks had 35% more shares at June 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.Ginkgo Bioworks had 35% more shares at June 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Stock-based pay is a large cost. Stock pay was 48% of revenue in 2025.

Ginkgo Bioworks paid employees $82M in stock in 2025, 48% of its $170M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Annual revenue fell three years running. Fiscal-year revenue down each year from 2022 to 2025.

Ginkgo Bioworks's fiscal-year revenue declined in each of the three years to 2025.

Questions investors ask about Ginkgo Bioworks

Is Ginkgo Bioworks getting weaker?

Its latest SEC filing (Aug 6, 2026) got weaker in some ways: 12-month revenue fell 12.5%. Its overall score is unchanged at 19/100 since Oct 28, 2026.

How is Ginkgo Bioworks valued vs its peers?

Priced about in line with its peers. Valuation scores 45/100 against 1,393 healthcare peers. Earnings yield 3.2% vs a peer median of 1.5% (stronger than 63% of peers).Earnings yield 3.2% vs peers 1.5% (stronger than 63% of peers). EBITDA yield -31.7% vs a peer median of 4.0% (weaker than 100% of peers).EBITDA yield -31.7% vs peers 4.0% (weaker than 100% of peers).

Is Ginkgo Bioworks growing?

More slowly than most of its peers. Growth scores 2/100 against 1,393 healthcare peers. Earnings per share growth -91.9% vs a peer median of 9.8% (weaker than 100% of peers).Earnings per share growth -91.9% vs peers 9.8% (weaker than 100% of peers).

How profitable is Ginkgo Bioworks?

Less profitable than most of its peers. Profitability scores 13/100 against 1,393 healthcare peers. Return on invested capital -72.0% vs a peer median of 4.7% (weaker than 91% of peers).Return on invested capital -72.0% vs peers 4.7% (weaker than 91% of peers).

How risky is Ginkgo Bioworks?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.57× vs a peer median of 2.59× (stronger than 70% of peers).Current ratio 4.57× vs peers 2.59× (stronger than 70% of peers). Beta 1.79 vs a peer median of 0.63 (weaker than 92% of peers).Beta 1.79 vs peers 0.63 (weaker than 92% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

151.4M USD

132.4M USD

−12.5%

Net income (12 months)

8.1M USD

21.6M USD

+168.7%

Operating margin

-201.9%

-231.1%

−29.2 pts

Free cash flow (12 months)

−168.2M USD

−174.8M USD

+3.9%

Cash

143.9M USD

84.5M USD

−41.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-582.6%

-462.4%

-343.8%

-246.5%

-185.3%

▲ 61 pts

Net margin

-583.1%

-440.6%

-355.1%

-240.9%

-183.8%

▲ 57 pts

Return on assets (ROA)

-88.4%

-82.9%

-53.6%

-39.7%

-27.9%

▲ 12 pts

Return on equity (ROE)

-121.6%

-121.2%

-81.4%

-76.4%

-61.5%

▲ 15 pts

Free cash flow margin

-98.9%

-63.7%

-133.7%

-168.3%

-105.0%

▲ 63 pts

Current ratio

12.79×

8.38×

6.11×

5.62×

4.92×

▼ 13%

Quick ratio

12.76×

8.36×

6.11×

—

Interest coverage

-770.53×

-20839.17×

-9294.69×

-5954.86×

—