OABI Healthcare

OmniAb, Inc.

$5.15+1.18%

Price as of close on Nov 3, 2026 · Financials updated Oct 10, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 748.8M USD
Enterprise value: 715.7M USD
Full-time employees: 89

Overall health

Strength: growing faster than most peersgrowing faster than peers
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 1.37 vs a peer median of 0.63)bigger price swings (beta 1.37 vs peers 0.63)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #836 of 1,157 healthcare companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 26% from December 2022 to July 2026.
OmniAb had 26% 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.OmniAb had 26% more shares at July 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 85% of revenue in 2025.
OmniAb paid employees $16M in stock in 2025, 85% of its $19M 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.
OmniAb's fiscal-year revenue declined in each of the three years to 2025.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, OmniAb 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.

StockQuotient Score

39/ 100

Oct 5 39 → Nov 4 39

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-5.9%

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-3.0%

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-2.4%

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 yield34.8%

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

Growth

Is it growing?

75/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 32.9%

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-16.5%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -2.66Sector median: 0.0584 · MAD: 0.0840

Revenue growth67.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 6.25Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

18/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA
▼ ROIC

Compare with peers

Behind the score

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

Operating margin-125.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -10.91Sector median: 0.0706 · MAD: 0.1217

Return on assets-15.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -3.15Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-16.2%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -2.08Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin98.3%

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-17.0%

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

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Current ratio
▲ Debt / equity
▼ Beta

Compare with peers

Behind the score

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

Beta1.37

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -2.21Sector median: 0.6250 · MAD: 0.3380

Current ratio4.80×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.60Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.07×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.73Sector 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 OmniAb

Is OmniAb getting weaker?: Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.
How is OmniAb 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 -5.9% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -5.9% vs peers 1.5% (weaker than 100% of peers).
Is OmniAb growing?: Yes, faster than most of its peers. Growth scores 75/100 against 1,393 healthcare peers. Revenue growth 67.0% vs a peer median of 6.1% (stronger than 92% of peers).Revenue growth 67.0% vs peers 6.1% (stronger than 92% of peers). 3-year revenue growth -16.5% vs a peer median of 5.8% (weaker than 93% of peers).3-year revenue growth -16.5% vs peers 5.8% (weaker than 93% of peers).
How profitable is OmniAb?: Less profitable than most of its peers. Profitability scores 18/100 against 1,393 healthcare peers. Operating margin -125.8% vs a peer median of 7.1% (weaker than 88% of peers).Operating margin -125.8% vs peers 7.1% (weaker than 88% of peers).
How risky is OmniAb?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.80× vs a peer median of 2.59× (stronger than 72% of peers).Current ratio 4.80× vs peers 2.59× (stronger than 72% of peers). Beta 1.37 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.37 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 6, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

Worth watching: OmniAb 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)	28.9M USD	38.5M USD	+32.9%
Net income (12 months)	−54.3M USD	−44.3M USD	−18.5%
Operating margin	-200.3%	-125.8%	+74.5 pts
Free cash flow (12 months)	−26.0M USD	−18.1M USD	−30.3%
Cash	29.0M USD	24.3M USD	−16.2%
Shares outstanding	145.0M	145.4M	+0.3%

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	-102.5%	-45.1%	-203.2%	-282.3%	-369.5%	▼ 87 pts
Net margin	-77.8%	-37.8%	-148.2%	-235.1%	-347.0%	▼ 112 pts
Return on assets (ROA)	-8.9%	-5.3%	-13.5%	-19.1%	-21.5%	▼ 2.5 pts
Return on equity (ROE)	-11.5%	-6.5%	-16.1%	-21.6%	-24.3%	▼ 2.7 pts
Free cash flow margin	-28.0%	-35.1%	2.1%	-157.4%	-198.3%	▼ 41 pts
Current ratio	1.10×	4.80×	4.11×	4.52×	4.02×	▼ 11%
Quick ratio	—	—	—	4.51×	3.97×	▼ 12%
Interest coverage	-5087.00×	—	—	—	—	—

OABI 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

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 1.37 vs a peer median of 0.63)bigger price swings (beta 1.37 vs peers 0.63)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #836 of 1,157 healthcare companies (bottom 28%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 26% from December 2022 to July 2026.

OmniAb had 26% 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.OmniAb had 26% more shares at July 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 85% of revenue in 2025.

OmniAb paid employees $16M in stock in 2025, 85% of its $19M 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.

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

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

Relative to its free cash flow, OmniAb 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.

Questions investors ask about OmniAb

Is OmniAb getting weaker?

Its latest SEC filing (Aug 6, 2026) showed no major changes. Its overall score is unchanged at 39/100 since Oct 28, 2026.

How is OmniAb 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 -5.9% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -5.9% vs peers 1.5% (weaker than 100% of peers).

Is OmniAb growing?

Yes, faster than most of its peers. Growth scores 75/100 against 1,393 healthcare peers. Revenue growth 67.0% vs a peer median of 6.1% (stronger than 92% of peers).Revenue growth 67.0% vs peers 6.1% (stronger than 92% of peers). 3-year revenue growth -16.5% vs a peer median of 5.8% (weaker than 93% of peers).3-year revenue growth -16.5% vs peers 5.8% (weaker than 93% of peers).

How profitable is OmniAb?

Less profitable than most of its peers. Profitability scores 18/100 against 1,393 healthcare peers. Operating margin -125.8% vs a peer median of 7.1% (weaker than 88% of peers).Operating margin -125.8% vs peers 7.1% (weaker than 88% of peers).

How risky is OmniAb?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.80× vs a peer median of 2.59× (stronger than 72% of peers).Current ratio 4.80× vs peers 2.59× (stronger than 72% of peers). Beta 1.37 vs a peer median of 0.63 (weaker than 85% of peers).Beta 1.37 vs peers 0.63 (weaker than 85% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

28.9M USD

38.5M USD

+32.9%

Net income (12 months)

−54.3M USD

−44.3M USD

−18.5%

Operating margin

-200.3%

-125.8%

+74.5 pts

Free cash flow (12 months)

−26.0M USD

−18.1M USD

−30.3%

Cash

29.0M USD

24.3M USD

−16.2%

Shares outstanding

145.0M

145.4M

+0.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

-102.5%

-45.1%

-203.2%

-282.3%

-369.5%

▼ 87 pts

Net margin

-77.8%

-37.8%

-148.2%

-235.1%

-347.0%

▼ 112 pts

Return on assets (ROA)

-8.9%

-5.3%

-13.5%

-19.1%

-21.5%

▼ 2.5 pts

Return on equity (ROE)

-11.5%

-6.5%

-16.1%

-21.6%

-24.3%

▼ 2.7 pts

Free cash flow margin

-28.0%

-35.1%

2.1%

-157.4%

-198.3%

▼ 41 pts

Current ratio

1.10×

4.80×

4.11×

4.52×

4.02×

▼ 11%

Quick ratio

—

4.51×

3.97×

▼ 12%

Interest coverage

-5087.00×

—