Dianthus Therapeutics, Inc. /DE/

DNTH

Dianthus Therapeutics, Inc., a clinical-stage biotechnology company, engages in the development of therapies for patients with severe autoimmune diseases. Its lead clinical-stage candidate, claseprubart, a monoclonal antibody engineered with extended half-life, improved potency, and high selectivity for only the active C1s complement protein; and DNTH212, a bifunctional fusion protein that targets plasmacytoid dendritic cell (pDC) BDCA2 to reduce Type 1 interferon production, while simultaneously inhibiting BAFF/APRIL to suppress B cell function.

About the company

Country: United StatesPrice: $91.81Market Cap: $5.2B

Investment snapshot

0%positive consensus

Scored 1d ago

Positive

BUY / PASS

Neutral / negative

2 / 14

NEUTRAL / FAIL

Median fair value

—

No comparable estimates

Models with upside

0 / 17

Positive margin of safety

Strongest signal

8 of 12 pass — Graham, Buffett, Lynch +1 more object

Key risk

No clean pass — all 16 investors flag at least one profitability criterion

Framework analysis

Verdict	Meaning
BUY	Positive purchase signal: the framework's buy requirements are met.
PASS	The company clears the framework's checklist or screen, but the framework does not produce a buy signal. For valuation frameworks this often means margin of safety is missing, insufficient, or unavailable; some screen-only frameworks have no intrinsic-value BUY state.
NEUTRAL	Neither a positive nor negative conclusion. It does not mean to hold an existing position.
FAIL	The company does not clear the framework's requirements.
Ranked	Ranked strategies do not use PASS: selected cohort is BUY, outside the cohort is FAIL, and unranked is NEUTRAL.

Current investor scores use trailing 12-month flows and the latest balance sheet where supported. Multi-year and EPS tests retain annual history; each framework shows its financial basis below. Intrinsic values use annual financials.

Metric	Graham Defensive Value	Buffett Quality Compounder	Lynch GARP	Greenblatt Magic Formula	Piotroski F-Score	Dreman Contrarian Value	Munger Quality Focus	Pabrai Dhandho Framework	Akre Three-Legged Stool	Marks Risk-Aware Value	Ackman Activist Value	Templeton Global Bargain Hunter	Sleep Scale Economies Shared	Asness Systematic Factors	Neff Low-P/E Total Return	Schloss Asset-Value Discipline	O'Shaughnessy Systematic Factor Composite
Verdict	FAIL	FAIL	FAIL	FAIL · Rank #2219 (Top 71.6%)	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	FAIL	NEUTRAL	FAIL	FAIL	NEUTRAL
Score
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Intrinsic Value (annual)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Margin of Safety	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financial Basis	Annual history · FY 2025 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Qualitative assessment · Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-09-30 · Market data at 2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · Qualitative assessment Latest source filing: 2026-03-09 Score computed: 2026-11-14	TTM ended 2026-09-30 · Balance sheet at 2026-09-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Annual history · FY 2025 Latest source filing: 2026-03-09 Score computed: 2026-11-14	Annual history · FY 2025 · Balance sheet at 2026-09-30 Latest source filing: 2026-11-04 Score computed: 2026-11-14	Annual history · FY 2025 · TTM ended 2026-09-30 · Price history 2025-01-01–2026-11-01 Latest source filing: 2026-11-04 Score computed: 2026-11-14

Where It Passes

Debt & Leverage67% pass✓ 11✗ 4▾
8 of 12 pass — Graham, Buffett, Lynch +1 more object
LT Debt vs Net Current Assets
✗GrahamLT Debt <= Net Current Assets
Debt/Equity & Interest CoverageD/E: 0.00, IC: N/A
✗BuffettD/E < 0.5 AND Interest Coverage > 5x
Total Debt / Equity0
✓Lynch< 0.33
Cash - Long-term Debt
✗LynchPositive preferred
LT Debt / Total Assets Change0.00% -> 0.00%
✓PiotroskiDecreased YoY
Current Assets / Current Liabilities30.02
✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
Total Debt / Shareholders' Equity0
✓Dreman< 0.8✓Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✓SchlossD/E < 1.00x
Debt Levels0
✓MungerDebt/Equity < 0.5✓AkreDebt/Equity < 0.3
Interest Coverage & Debt/EBITDA
✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
Total Debt / Shareholders Equity0
✓Ackman<= 1.0
Negative debt-to-equity (higher means less debt)-0.0000; #1/4210 (top 0.0%)
✓AsnessTop 30% of eligible cross-section

Where It Falls Short

Profitability0% pass✓ 1✗ 34▾
No clean pass — all 16 investors flag at least one profitability criterion
Positive EPS (10 years)0/11 years positive
✗GrahamPositive EPS every year for 10 years
EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
✗Graham>= 33% growth
Net Income Positive (10+ years)0/11 years positive
✗BuffettPositive every year for 10+ years
ROE (up to 5-year arithmetic mean)-37.8%
✗Buffett> 15% arithmetic mean (app rule)
Operating Margin (10-yr trend)
✗BuffettStable or rising over 10 years
Free Cash Flow Proxy$-26.9M
✗BuffettPositive and growing
Earnings Variance (10-yr CoV)N/A (negative mean EPS)
✗BuffettCoV < 0.3
Retained Earnings Effectiveness
✗Buffett$1 retained -> > $1 market value created
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
ROE-16.3%
✗Lynch> 15%
EBIT / Enterprise Value-3.5%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-3.5%, ROC=-54.3%
✗GreenblattBoth EY > 10% and ROC > 25%
Net Income / Total Assets-30.58%
✗PiotroskiROA > 0
ROA Change YoY-22.72% -> -30.58% (delta: -7.86%)
✗PiotroskiCurrent ROA > Prior ROA
(CFO / Total Assets) vs ROACFO/Assets=-24.31%, ROA=-30.58%
✓PiotroskiCFO/Assets > ROA
Gross Margin Change YoY
✗PiotroskiImproved YoY
Pre-Tax Income / Revenue
✗Dreman>= 8%
Net Income / Shareholders' Equity-16.3%
✗Dreman> 12%
Margin of SafetyP/B=8.0x
✗PabraiP/B < 1.5 or P/E < 15
Return on Equity-27.6% (3-yr avg)
✗AkreROE > 20% (3-year avg)
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Positive Net Income Frequency0/10 years positive
✗MarksPositive net income in >= 7 of last 10 years
Operating Income / Revenue-8739.3%
✗Ackman>= 15%
Net Income / Shareholders Equity-16.3%
✗Ackman>= 15%
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Operating Margin Trend-1704.7% (2023) -> -8739.3% (2025)
✗TempletonNon-negative operating-margin trend over 3 years
Revenue growth vs. gross and operating margin trendrevenue flat/down, operating margin -1704.7% -> -8739.3%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
Net income / market capitalization-3.91%; #3769/6340 (top 59.4%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Gross profit / total assets
✗AsnessTop 30% of eligible cross-section
Net income / positive book equity-16.28%; #3606/5226 (top 69.0%)
✗AsnessTop 30% of eligible cross-section
Negative 5-year standard deviation of ROA-0.0565; #2729/5884 (top 46.4%)
✗AsnessTop 30% of eligible cross-section
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Positive Diluted-EPS Years0/10 years positive
✗Schloss>= 70% positive over 5-10 observed years (app rule)
Valuation0% pass✓ 1✗ 27▾
No clean pass — all 13 investors flag at least one valuation criterion
Price / 3-yr avg EPS
✗Graham<= 15x
Price-to-Book Ratio8.0x
✗Graham<= 1.5x
P/E x P/B
✗Graham<= 22.5
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
EBIT / Enterprise Value-3.5%
✗Greenblatt> 10%
Earnings Yield + ROC AssessmentEY=-3.5%, ROC=-54.3%
✗GreenblattBoth EY > 10% and ROC > 25%
Price / EPS
✗Dreman< 12x✗Templeton< 12x (fixed ceiling; proxy for the market's cheapest 40%)
Price / (CFO / Shares)N/A (negative CFPS)
✗Dreman< 8x
Price / Book Value per Share8.0x
✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
Valuation Reasonableness
✗MungerP/E < 25 or Owner Earnings Yield > 5%
P/E or FCF Yield
✗PabraiP/E < 15 or FCF Yield > 10%
P/B or P/E vs. Historical AverageP/B=8.0x
✗MarksP/E < 15 or P/B < 2.0
Discount to Intrinsic ValueN/A (negative normalized EPS)
✗Marks>= 20% below intrinsic value
Price / FCF per Share
✗Ackman<= 25
Price vs. Trailing Low528% of trailing low ($17.39)
✗Templeton<= 120% of trailing low (certified split-adjusted live window)
Net income / market capitalization-3.91%; #3769/6340 (top 59.4%)
✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
Positive book equity / market capitalization+0.2401; #3978/6449 (top 61.7%)
✗AsnessTop 30% of eligible cross-section
Price / Diluted EPS
✗NeffP/E <= 15x (app proxy for a P/E 40%-60% below the market)
(EPS CAGR % + Dividend Yield %) / P/E
✗Neff> 0.7 (Neff's published traditional edge)
Price / Tangible Book Value per Share8.04x
✗SchlossP/TBV <= 1.00x (app cutoff)
Book Value per Share Change+285.2%
✓SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
Revenue / market capitalization+0.0004; #5051/5247 (top 96.3%)
✗OshaughnessyTop 10% of eligible cross-section
(Operating cash flow - capex) / market capitalization
✗OshaughnessyTop 10% of eligible cross-section
Trailing six-month price return through the evaluation date+2.27%; #2378/6202 (top 38.3%)
✗OshaughnessyTop 10% of eligible cross-section
Cash Flow0% pass✓ 1✗ 11▾
No clean pass — all 10 investors flag at least one cash flow criterion
Free Cash Flow Proxy$-26.9M
✗BuffettPositive and growing
FCF Positive and Growing$-29.4M
✗LynchPositive and growing
Operating Cash Flow$-129.1M
✗PiotroskiCFO > 0
(CFO / Total Assets) vs ROACFO/Assets=-24.31%, ROA=-30.58%
✓PiotroskiCFO/Assets > ROA
Price / (CFO / Shares)N/A (negative CFPS)
✗Dreman< 8x
P/E or FCF Yield
✗PabraiP/E < 15 or FCF Yield > 10%
FCF Positive0/7 years FCF positive
✗MarksPositive FCF in majority of recent years
(OCF - CapEx) / Market Cap
✗Ackman>= 4%
Price / FCF per Share
✗Ackman<= 25
Positive Operating Cash Flow frequency0/10 years positive
✗SleepPositive OCF in >= 70% of available years
Operating Cash Flow - Capital Expenditures
✗Neff> $0 (app proxy for a strong fundamental case)
(Operating cash flow - capex) / market capitalization
✗OshaughnessyTop 10% of eligible cross-section
Growth0% pass✓ 2✗ 11▾
No clean pass — all 8 investors flag at least one growth criterion
EPS Growth (3-yr avg, 10-yr window)N/A (negative base EPS)
✗Graham>= 33% growth
Basic earnings-growth PEG (dividends excluded)
✗Lynch< 1.0 (ideally < 0.5)
3-5 Year EPS CAGR
✗Lynch15-30% (Fast Grower); > 0% to pass
Inventory Growth vs Revenue GrowthN/A (no inventory)
✓LynchInventory growth < Revenue growth
EPS Growth Direction$-65.15 (2016) -> $-4.20 (2025)
✗DremanPositive over recent years
EPS CAGR
✗Dreman> 5% annualized
Positive Net Income Frequency0/10 years positive
✗MarksPositive net income in >= 7 of last 10 years
3yr Median Revenue Growth26.6%
✓Ackman>= 5%
Positive EPS Growth Frequency2/5 years with positive EPS growth
✗AckmanPositive EPS growth in >= 3 of last 5 years
5-Year EPS CAGR
✗Templeton> 0% (5-year EPS CAGR)
Revenue growth vs. gross and operating margin trendrevenue flat/down, operating margin -1704.7% -> -8739.3%
✗SleepRevenue rising; gross margin flat or falling; operating margin holding
5-year Revenue CAGR
✗SleepCAGR > 7%
3-5 Year Diluted EPS CAGR
✗Neff7%-20% annualized
Verdicts0% pass✗ 15▾
Split decision: 14 FAIL · 2 NEUTRAL
Overall verdict
✗GrahamFAIL (1/9)✗BuffettFAIL (0/9)✗LynchFAIL (2/7)✗GreenblattRank #2219✗PiotroskiFAIL (F-Score 2)✗DremanFAIL (3/11)✗MungerFAIL (1/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (0/5)✗AckmanFAIL (3/9)✗TempletonFAIL (2/8)✗SleepFAIL (0/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (0/6)✗SchlossFAIL (3/7)•OshaughnessyNEUTRAL (Not ranked)
Efficiency25% pass✓ 2✗ 9▾
6 of 8 flag DNTH's efficiency — Buffett, Greenblatt, Piotroski +3 more
Current Ratio30.02
✓Graham>= 2.0
ROIC (3-5 yr avg)-53.4%
✗Buffett> 10%
ROIC - WACC-63.4%
✗BuffettPositive (WACC = 10%)
EBIT / (NWC + Net Fixed Assets)-54.3%
✗Greenblatt> 25%
Current Ratio Change YoY15.22 -> 13.32
✗PiotroskiIncreased YoY
Revenue / Total Assets Change YoY0.02x -> 0.00x
✗PiotroskiImproved YoY
Current Assets / Current Liabilities30.02
✓Dreman> 1.5
Return on Invested Capital-28.5%
✗Munger> 15%
ROIC (high and growing)FY2023: ROIC=-22.5%; FY2024: ROIC=-22.8%; FY2025: ROIC=-28.5%
✗AkreLatest 3 consecutive FYs: ROIC > 15% in each
Reinvestment Rate x ROICN/A (non-positive net income)
✗AkreReinvestment Rate * ROIC > 10%
ROIC (5-year)0/3 years above 12% (latest -28.5%)
✗SleepROIC > 12% in a majority of years

Business & financials

Financial snapshot: annual FY 2025. Current investor scores may use newer quarterly data.

Company Profile

Industry: Pharmaceutical Products

SIC Sector: Chemicals & Pharmaceuticals

Size: Mid Cap($5.2B)

Revenue: $2.0M-67.3% YoY

Net Income: $162.3M-91.1% YoY

Financial Snapshot

Operating Margin-8739.3%

Return on Equity-32.9%

Debt / Equity0.00

Current Ratio13.32

EPS (Diluted)$-4.20

Shares Retired−38.9%

Similar Companies

MRKMerck & Co., Inc.

$364.3B

ABTABBOTT LABORATORIES

$188.0B

BMYBRISTOL MYERS SQUIBB CO

$129.7B

TECHBIO-TECHNE Corp

$11.4B

Shareholder Return

Fiscal 2025

Issued 38.9% of shares last year.

Buybacks: —
Dividends: —

Company Financials

Latest TTM and quarters alongside annual years

TTM sums four consecutive quarters and uses the latest quarter-end balances. Quarter columns show three-month results; annual columns show full-year totals. Growth compares the same period a year earlier. EPS is not added for TTM; full-year ratios are blank for quarters.

The latest annual period end is unavailable. Showing the latest fiscal cycle’s quarters; quarter and annual columns may overlap. Quarterly shows the full quarter history.

Metric	TTM · 2026-09-30 2025-10-01 – 2026-09-30 Sources · derived quarter values 10-K · 2026-03-09 10-Q · 2026-05-05 10-Q · 2026-08-04 10-Q · 2026-11-04 Derived from cumulative filings: revenue, net income, operating income, ebit, operating cash flow.	Q3 FY 2026 2026-07-01 – 2026-09-30 Sources · derived quarter values 10-Q · 2026-11-04 Derived from cumulative filings: operating cash flow.	Q2 FY 2026 2026-04-01 – 2026-06-30 Sources · derived quarter values 10-Q · 2026-08-04 Derived from cumulative filings: operating cash flow.	Q1 FY 2026 2026-01-01 – 2026-03-31 Sources 10-Q · 2026-05-05	FY 2025 Sources 10-K · 2026-03-09	FY 2024 Sources 10-K · 2025-03-11	FY 2023 Sources 10-K · 2024-03-21	FY 2022 Sources 10-K · 2023-03-23	FY 2021 Sources 10-K · 2023-03-23
Market Cap	$5.2Bcurrent	--	--	--	$2.3Best.	$689.2Mest.	$97.9Mest.	$533.6Mest.	$3.1Best.
Revenue	--	--	--	--	$2.0M↓67%	$6.2M↑121%	$2.8M	--	--
Operating Income	-$236.0M↓68%	-$58.5M↓45%	-$61.5M↓76%	-$46.5M↓40%	-$177.9M↓75%	-$101.9M↓111%	-$48.2M↓62%	-$29.7M↑60%	-$74.7M
Net Income	-$202.1M↓60%	-$46.6M↓27%	-$50.2M↓59%	-$40.8M↓38%	-$162.3M↓91%	-$85.0M↓95%	-$43.6M↓53%	-$28.5M↑60%	-$71.1M
EPS (Diluted)	--	$-0.81↑16%	$-0.90↓2%	$-0.85↓4%	$-4.20↓65%	$-2.55↑70%	$-8.45↓555%	$-1.29	$-1.29
Gross Margin	—	—	—	—	—	—	—	—	—
Operating Margin	—	—	—	—	-8739.3%↓435%	-1633.7%↑4%	-1704.7%	—	—
ROE	-16.3%↑30%	—	—	—	-32.9%↓36%	-24.1%↑7%	-25.8%↓140%	64.2%↓84%	412.4%
Total Debt	--	--	--	--	$0	$0	$0	--	--
Shareholders' Equity	$1.2B↑127%	$1.2B↑127%	$1.2B↑287%	$1.2B↑266%	$493.4M↑40%	$352.5M↑109%	$168.9M↑481%	-$44.4M↓157%	-$17.2M
Current Ratio	30.02↑73%	30.02↑73%	26.10↑99%	29.25↑83%	13.32↓12%	15.22↓17%	18.42↑85%	9.97↓40%	16.63
Debt / Equity	—	—	—	—	0.00	0.00	0.00	—	—
Operating Cash Flow	-$175.2M↓60%	-$50.3M↓65%	-$49.0M↓105%	-$28.9M↓4%	-$129.1M↓65%	-$78.2M↓112%	-$36.9M↓27%	-$29.1M↑51%	-$59.5M
Free Cash Flow	--	--	--	--	--	--	--	-$29.4M↑52%	-$60.8M

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Pharmaceutical Products

DNTH vs Peers — Financial Grading

Revenue$2.0MBottom 25%

Net Income$162.3MBottom 25%

ROE-32.9%Bottom 25%

D/E0.00Top 25%

Op. Margin-8739.3%Bottom 25%

Curr. Ratio13.32Top 25%

Company	Market Cap	Price	Revenue	Net Income	ROE	D/E	Op. Margin	Curr. Ratio	Graham	Buffett	Lynch	Greenblatt	Piotroski	Dreman
Merck & Co., Inc.MRK	$364.3B	$147.76	$65.0B	$18.3B	34.7%	0.94	—	1.54	2/9	5/9	4/7	0/3	F-Score 4	1/11
ABBOTT LABORATORIESABT	$188.0B	$108.52	$44.3B	$6.5B	12.5%	0.25	18.2%	1.58	3/9	4/9	2/7	1/3	F-Score 5	3/11
BRISTOL MYERS SQUIBB COBMY	$129.7B	$63.43	$48.2B	$7.1B	38.2%	2.44	19.4%	1.26	2/9	1/9	3/7	1/3	F-Score 8	5/11
BIO-TECHNE CorpTECH	$11.4B	$72.80	$1.2B	$73.4M	3.8%	—	8.4%	3.46	4/9	3/9	3/7	0/3	F-Score 5	4/11
REPLIGEN CORPRGEN	$10.7B	$167.79	$738.3M	$48.9M	2.3%	0.26	7.5%	8.37	3/9	2/9	3/7	0/3	F-Score 7	5/11
IONIS PHARMACEUTICALS INCIONS	$4.8B	$29.06	$943.7M	$381.4M	-78.0%	3.60	-40.4%	3.83	3/9	1/9	1/7	0/3	F-Score 4	3/11
NEOGEN CORPNEOG	$2.5B	$11.23	$870.4M	$7.9M	-0.4%	0.76	-2.5%	3.82	3/9	1/9	2/7	0/3	F-Score 6	4/11
Pharvaris N.V.PHVS	$2.4B	$33.36	—	$206.4M	-64.8%	0.00	—	—	0/9	0/9	2/7	0/3	F-Score 2	2/11