OBIO Healthcare

Orchestra BioMed Holdings, Inc.

$5.56-2.28%

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

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 334.2M USD
Enterprise value: 232.6M USD
Full-time employees: 86

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

Ranks #646 of 1,157 healthcare companies (bottom 45%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 198% from December 2022 to August 2026.
Orchestra BioMed had 198% more shares at August 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.Orchestra BioMed had 198% more shares at August 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 36% of revenue in 2025.
Orchestra BioMed paid employees $12M in stock in 2025, 36% of its $33M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Orchestra BioMed 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, from a small base ($32M of revenue over 12 months).
Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -181%).

StockQuotient Score

49/ 100

Oct 5 49 → Nov 4 49

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-17.7%

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-24.2%

SEC filings · 12 months to Jun 2026Negative (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-17.7%

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 yield5.8%

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

Growth

Is it growing?

96/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 2.3%

Why

Stronger than most peers on:

▲ 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 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 growth94.5%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 8.59Sector median: 0.0584 · MAD: 0.0840

Revenue growth986.1%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 10.15Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROIC
▼ ROA
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin-181.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -15.48Sector median: 0.0706 · MAD: 0.1217

Return on assets-51.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -9.82Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-330.8%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -16.87Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin99.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-305.5%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 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

Stronger than most peers on:

▲ 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.

Beta0.52

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.32Sector median: 0.6250 · MAD: 0.3380

Current ratio8.26×

SEC filings · latest balance sheetReported value33% base weight · Z-score 4.10Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.36×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.70Sector 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 Orchestra BioMed

Is Orchestra BioMed getting weaker?: Its latest SEC filing (Aug 10, 2026) got weaker in some ways: 12-month revenue fell 2.3%. Its overall score is unchanged at 49/100 since Oct 28, 2026.
How is Orchestra BioMed 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 -17.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -17.7% vs peers 1.5% (weaker than 100% of peers).
Is Orchestra BioMed growing?: Yes, faster than most of its peers. Growth scores 96/100 against 1,393 healthcare peers. 3-year revenue growth 94.5% vs a peer median of 5.8% (stronger than 95% of peers).3-year revenue growth 94.5% vs peers 5.8% (stronger than 95% of peers).
How profitable is Orchestra BioMed?: Less profitable than most of its peers. Profitability scores 8/100 against 1,393 healthcare peers. Return on invested capital -330.8% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -330.8% vs peers 4.7% (weaker than 100% of peers).
How risky is Orchestra BioMed?: Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 8.26× vs a peer median of 2.59× (stronger than 84% of peers).Current ratio 8.26× vs peers 2.59× (stronger than 84% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 10, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

12-month revenue fell 2.3%

Worth watching: Orchestra BioMed 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)	32.7M USD	32.0M USD	−2.3%
Net income (12 months)	−54.6M USD	−59.0M USD	+8.0%
Operating margin	-168.0%	-181.4%	−13.4 pts
Free cash flow (12 months)	−55.1M USD	−59.1M USD	+7.3%
Debt	15.0M USD	15.0M USD	0.0%
Cash	28.4M USD	20.5M USD	−27.8%
Shares outstanding	59.9M	60.1M	+0.4%

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
Gross margin	—	94.0%	93.3%	92.3%	99.4%	▲ 7.2 pts
Operating margin	—	-924.3%	-1866.2%	-2437.5%	-154.7%	▲ >999 pts
Net margin	—	-951.3%	-1779.7%	-2313.3%	-157.4%	▲ >999 pts
Return on assets (ROA)	-0.2%	-35.2%	-51.6%	-80.1%	-45.9%	▲ 34 pts
Return on equity (ROE)	—	—	-72.2%	-185.2%	-98.4%	▲ 87 pts
Free cash flow margin	—	-845.7%	-1674.1%	-1927.5%	-147.7%	▲ >999 pts
Current ratio	10.88×	4.56×	7.95×	4.27×	6.45×	▲ 51%
Quick ratio	—	4.55×	7.94×	4.26×	6.43×	▲ 51%
Debt to equity	—	—	—	0.46×	0.28×	▼ 38%
Interest coverage	—	-25.12×	-36.79×	-216.50×	—	—

OBIO price history

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

Similar companies

Sector leaderboards

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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

Ranks #646 of 1,157 healthcare companies (bottom 45%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 198% from December 2022 to August 2026.

Orchestra BioMed had 198% more shares at August 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.Orchestra BioMed had 198% more shares at August 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 36% of revenue in 2025.

Orchestra BioMed paid employees $12M in stock in 2025, 36% of its $33M revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

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

Relative to its free cash flow, Orchestra BioMed 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, from a small base ($32M of revenue over 12 months).

Revenue grew faster than 95% of peers, but the business runs at an operating loss (margin -181%).

Questions investors ask about Orchestra BioMed

Is Orchestra BioMed getting weaker?

Its latest SEC filing (Aug 10, 2026) got weaker in some ways: 12-month revenue fell 2.3%. Its overall score is unchanged at 49/100 since Oct 28, 2026.

How is Orchestra BioMed 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 -17.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -17.7% vs peers 1.5% (weaker than 100% of peers).

Is Orchestra BioMed growing?

Yes, faster than most of its peers. Growth scores 96/100 against 1,393 healthcare peers. 3-year revenue growth 94.5% vs a peer median of 5.8% (stronger than 95% of peers).3-year revenue growth 94.5% vs peers 5.8% (stronger than 95% of peers).

How profitable is Orchestra BioMed?

Less profitable than most of its peers. Profitability scores 8/100 against 1,393 healthcare peers. Return on invested capital -330.8% vs a peer median of 4.7% (weaker than 100% of peers).Return on invested capital -330.8% vs peers 4.7% (weaker than 100% of peers).

How risky is Orchestra BioMed?

Lower risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 8.26× vs a peer median of 2.59× (stronger than 84% of peers).Current ratio 8.26× vs peers 2.59× (stronger than 84% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

32.7M USD

32.0M USD

−2.3%

Net income (12 months)

−54.6M USD

−59.0M USD

+8.0%

Operating margin

-168.0%

-181.4%

−13.4 pts

Free cash flow (12 months)

−55.1M USD

−59.1M USD

+7.3%

Debt

15.0M USD

15.0M USD

0.0%

Cash

28.4M USD

20.5M USD

−27.8%

Shares outstanding

59.9M

60.1M

+0.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

—

94.0%

93.3%

92.3%

99.4%

▲ 7.2 pts

Operating margin

—

-924.3%

-1866.2%

-2437.5%

-154.7%

▲ >999 pts

Net margin

—

-951.3%

-1779.7%

-2313.3%

-157.4%

▲ >999 pts

Return on assets (ROA)

-0.2%

-35.2%

-51.6%

-80.1%

-45.9%

▲ 34 pts

Return on equity (ROE)

—

-72.2%

-185.2%

-98.4%

▲ 87 pts

Free cash flow margin

—

-845.7%

-1674.1%

-1927.5%

-147.7%

▲ >999 pts

Current ratio

10.88×

4.56×

7.95×

4.27×

6.45×

▲ 51%

Quick ratio

—

4.55×

7.94×

4.26×

6.43×

▲ 51%

Debt to equity

—

0.46×

0.28×

▼ 38%

Interest coverage

—

-25.12×

-36.79×

-216.50×

—