Inhibrx Biosciences, Inc.

INBX
About the company

Inhibrx Biosciences, Inc., a clinical-stage biopharmaceutical company, engages in the development of biologic therapeutics for people with life-threatening conditions.

Country: United StatesPrice: $83.30Market Cap: $1.2B

Investment snapshot

0%positive consensus
Scored 1d ago

Positive

0

BUY / PASS

Neutral / negative

2 / 14

NEUTRAL / FAIL

Median fair value

$415.50

+398.8% vs price

Models with upside

4 / 17

Positive margin of safety

Strongest signal

INBX undervalued: all 4 models price fair value above $83.30 (median $415.50)

Key risk

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

Framework analysis

VerdictMeaning
BUYPositive purchase signal: the framework's buy requirements are met.
PASSThe 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.
NEUTRALNeither a positive nor negative conclusion. It does not mean to hold an existing position.
FAILThe company does not clear the framework's requirements.
RankedRanked 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.

MetricGraham

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

VerdictFAILFAILFAILNot rankedFAILFAILFAILFAILFAILFAILFAILFAILFAILNEUTRALFAILFAILNEUTRAL
Score
AnalysisChecking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…Checking access…
Intrinsic Value (annual)N/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/AN/A
Margin of SafetyN/AN/AN/AN/AN/A+80.0%N/A+90.5%N/A+80.0%N/A+80.0%N/AN/AN/AN/AN/A
Financial Basis

Annual history · FY 2025 · Balance sheet at 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-06-30 · TTM ended 2026-06-30 vs 2025-06-30 · TTM ended 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

TTM ended 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-11-01

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Qualitative assessment · Annual history · FY 2025

Latest source filing: 2026-03-19

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment · Balance sheet at 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30 · Qualitative assessment

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Market data at 2026-11-01

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · Price history 2025-01-01–2026-11-01 · Balance sheet at 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · Qualitative assessment

Latest source filing: 2026-03-19

Score computed: 2026-11-14

TTM ended 2026-06-30 · Balance sheet at 2026-06-30 · Price history 2025-01-01–2026-11-01 · Annual history · FY 2025

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · Balance sheet at 2026-06-30

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Annual history · FY 2025 · TTM ended 2026-06-30 · Price history 2025-01-01–2026-11-01

Latest source filing: 2026-08-13

Score computed: 2026-11-14

Where It Passes

  • Valuation models100% pass✓ 4▾

    INBX undervalued: all 4 models price fair value above $83.30 (median $415.50)

    Dreman fair value$415.50
    ✓Dreman+80.0% margin vs $83.30
    Pabrai fair value$873.08
    ✓Pabrai+90.5% margin vs $83.30
    Marks fair value$415.50
    ✓Marks+80.0% margin vs $83.30
    Templeton fair value$415.50
    ✓Templeton+80.0% margin vs $83.30

Where It Falls Short

  • Profitability0% pass✓ 3✗ 32▾

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

    Positive EPS (10 years)1/4 years positive
    ✗GrahamPositive EPS every year for 10 years
    EPS Growth (3-yr avg, 10-yr window)
    ✗Graham>= 33% growth
    Net Income Positive (10+ years)1/4 years positive
    ✗BuffettPositive every year for 10+ years
    ROE (up to 5-year arithmetic mean)-347.9%
    ✗Buffett> 15% arithmetic mean (app rule)
    Operating Margin (10-yr trend)
    ✗BuffettStable or rising over 10 years
    Free Cash Flow Proxy$-137.6M
    ✗BuffettPositive and growing
    Earnings Variance (10-yr CoV)
    ✗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
    ROEN/A (negative equity)
    ✗Lynch> 15%
    EBIT / Enterprise Value-10.1%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-10.1%, ROC=N/A (invested capital <= 0)
    ✗GreenblattBoth EY > 10% and ROC > 25%
    Net Income / Total Assets-95.62%
    ✗PiotroskiROA > 0
    ROA Change YoY933.56% -> -95.62% (delta: -1029.18%)
    ✗PiotroskiCurrent ROA > Prior ROA
    (CFO / Total Assets) vs ROACFO/Assets=-88.61%, ROA=-95.62%
    ✓PiotroskiCFO/Assets > ROA
    Gross Margin Change YoY
    ✗PiotroskiImproved YoY
    Pre-Tax Income / Revenue-10773.3%
    ✗Dreman>= 8%
    Net Income / Shareholders' Equity
    ✗Dreman> 12%
    Margin of SafetyP/B=152.2x
    ✗PabraiP/B < 1.5 or P/E < 15
    Return on Equity-347.9% (3-yr avg)
    ✗AkreROE > 20% (3-year avg)
    Discount to Intrinsic Value80.0% (IV=$415.50 vs Price=$83.30)
    ✓Marks>= 20% below intrinsic value
    Positive Net Income Frequency1/3 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    Operating Income / Revenue-10386.5%
    ✗Ackman>= 15%
    Net Income / Shareholders Equity
    ✗Ackman>= 15%
    5-Year EPS CAGR
    ✗Templeton> 0% (5-year EPS CAGR)
    Operating Margin Trend-12178.9% (2023) -> -10386.5% (2025)
    ✓TempletonNon-negative operating-margin trend over 3 years
    Revenue growth vs. gross and operating margin trendrevenue flat/down, operating margin -12178.9% -> -10386.5%
    ✗SleepRevenue rising; gross margin flat or falling; operating margin holding
    Net income / market capitalization-11.27%; #4233/6340 (top 66.8%)
    ✗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
    ✗AsnessTop 30% of eligible cross-section
    Negative 5-year standard deviation of ROA-4.8115; #5623/5884 (top 95.6%)
    ✗AsnessTop 30% of eligible cross-section
    3-5 Year Diluted EPS CAGR
    ✗Neff7%-20% annualized
    Positive Diluted-EPS Years
    ✗Schloss>= 70% positive over 5-10 observed years (app rule)
  • Debt & Leverage0% pass✓ 2✗ 13▾

    No clean pass — all 12 investors flag at least one debt & leverage criterion

    LT Debt vs Net Current AssetsLT Debt $176.3M vs NCA $114.1M
    ✗GrahamLT Debt <= Net Current Assets
    Debt/Equity & Interest CoverageD/E: N/A (negative equity), IC: -8.2x
    ✗BuffettD/E < 0.5 AND Interest Coverage > 5x
    Total Debt / EquityN/A (negative equity)
    ✗Lynch< 0.33
    Cash - Long-term Debt$-42.9M
    ✗LynchPositive preferred
    LT Debt / Total Assets Change0.00% -> 68.65%
    ✗PiotroskiDecreased YoY
    Current Assets / Current Liabilities5.07
    ✓Dreman> 1.5✓SchlossCurrent ratio >= 1.50x (app cutoff)
    Total Debt / Shareholders' Equity
    ✗Dreman< 0.8✗Templeton< 1.0 (fixed cap; proxy for below-sector-median leverage)✗SchlossD/E < 1.00x
    Debt LevelsN/A (non-positive equity)
    ✗MungerDebt/Equity < 0.5✗AkreDebt/Equity < 0.3
    Interest Coverage & Debt/EBITDAIC=-8.2x, D/EBITDA=N/A
    ✗MarksInterest Coverage > 3x; Debt/EBITDA < 4x
    Total Debt / Shareholders Equity
    ✗Ackman<= 1.0
    Negative debt-to-equity (higher means less debt)
    ✗AsnessTop 30% of eligible cross-section
  • Valuation0% pass✓ 2✗ 26▾

    No clean pass — all 13 investors flag at least one valuation criterion

    Price / 3-yr avg EPS3.0x
    ✓Graham<= 15x
    Price-to-Book Ratio152.2x
    ✗Graham<= 1.5x
    P/E x P/B457.80
    ✗Graham<= 22.5
    Basic earnings-growth PEG (dividends excluded)
    ✗Lynch< 1.0 (ideally < 0.5)
    EBIT / Enterprise Value-10.1%
    ✗Greenblatt> 10%
    Earnings Yield + ROC AssessmentEY=-10.1%, ROC=N/A (invested capital <= 0)
    ✗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 Share152.2x
    ✗Dreman< 1.2x✗Templeton< 1.5x✗SchlossP/B <= 0.80x (app cutoff)
    Valuation ReasonablenessOE Yield=-11.3%
    ✗MungerP/E < 25 or Owner Earnings Yield > 5%
    P/E or FCF YieldFCF Yield=-10.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    P/B or P/E vs. Historical AverageP/B=152.2x
    ✗MarksP/E < 15 or P/B < 2.0
    Discount to Intrinsic Value80.0% (IV=$415.50 vs Price=$83.30)
    ✓Marks>= 20% below intrinsic value
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Price vs. Trailing Low676% of trailing low ($12.33)
    ✗Templeton<= 120% of trailing low (certified split-adjusted live window)
    Net income / market capitalization-11.27%; #4233/6340 (top 66.8%)
    ✗AsnessTop 30% of eligible cross-section✗OshaughnessyTop 10% of eligible cross-section
    Positive book equity / market capitalization-0.0432; #5570/6449 (top 86.4%)
    ✗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 Share152.23x
    ✗SchlossP/TBV <= 1.00x (app cutoff)
    Book Value per Share Change
    ✗SchlossLatest BVPS >= earliest BVPS over >= 3 years (app rule)
    Revenue / market capitalization+0.0011; #5021/5247 (top 95.7%)
    ✗OshaughnessyTop 10% of eligible cross-section
    (Operating cash flow - capex) / market capitalization-10.76%; #3263/4519 (top 72.2%)
    ✗OshaughnessyTop 10% of eligible cross-section
    Trailing six-month price return through the evaluation date+10.67%; #1826/6202 (top 29.4%)
    ✗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$-137.6M
    ✗BuffettPositive and growing
    FCF Positive and Growing$-131.9M
    ✗LynchPositive and growing
    Operating Cash Flow$-129.8M
    ✗PiotroskiCFO > 0
    (CFO / Total Assets) vs ROACFO/Assets=-88.61%, ROA=-95.62%
    ✓PiotroskiCFO/Assets > ROA
    Price / (CFO / Shares)N/A (negative CFPS)
    ✗Dreman< 8x
    P/E or FCF YieldFCF Yield=-10.6%
    ✗PabraiP/E < 15 or FCF Yield > 10%
    FCF Positive0/3 years FCF positive
    ✗MarksPositive FCF in majority of recent years
    (OCF - CapEx) / Market Cap-10.8%
    ✗Ackman>= 4%
    Price / FCF per ShareN/A (negative FCF)
    ✗Ackman<= 25
    Positive Operating Cash Flow frequency0/3 years positive
    ✗SleepPositive OCF in >= 70% of available years
    Operating Cash Flow - Capital Expenditures$-131.9M
    ✗Neff> $0 (app proxy for a strong fundamental case)
    (Operating cash flow - capex) / market capitalization-10.76%; #3263/4519 (top 72.2%)
    ✗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)
    ✗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$-20.48 (2023) -> $-9.04 (2025)
    ✗DremanPositive over recent years
    EPS CAGR
    ✗Dreman> 5% annualized
    Positive Net Income Frequency1/3 years positive
    ✗MarksPositive net income in >= 7 of last 10 years
    3yr Median Revenue Growth230.6%
    ✓Ackman>= 5%
    Positive EPS Growth Frequency1/2 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 -12178.9% -> -10386.5%
    ✗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✗ 14▾

    Split decision: 14 FAIL · 2 NEUTRAL

    Overall verdict
    ✗GrahamFAIL (2/9)✗BuffettFAIL (0/9)✗LynchFAIL (1/7)•GreenblattNot ranked✗PiotroskiFAIL (F-Score 2)✗DremanFAIL (2/11)✗MungerFAIL (0/4)✗PabraiFAIL (0/3)✗AkreFAIL (1/6)✗MarksFAIL (1/5)✗AckmanFAIL (1/9)✗TempletonFAIL (2/8)✗SleepFAIL (0/6)•AsnessNEUTRAL (Not ranked)✗NeffFAIL (0/6)✗SchlossFAIL (1/7)•OshaughnessyNEUTRAL (Not ranked)
  • Efficiency25% pass✓ 3✗ 8▾

    6 of 8 flag INBX's efficiency — Buffett, Greenblatt, Piotroski +3 more

    Current Ratio5.07
    ✓Graham>= 2.0
    ROIC (3-5 yr avg)
    ✗Buffett> 10%
    ROIC - WACC
    ✗BuffettPositive (WACC = 10%)
    EBIT / (NWC + Net Fixed Assets)N/A (invested capital <= 0)
    ✗Greenblatt> 25%
    Current Ratio Change YoY3.94 -> 3.93
    ✗PiotroskiIncreased YoY
    Revenue / Total Assets Change YoY0.00x -> 0.01x
    ✓PiotroskiImproved YoY
    Current Assets / Current Liabilities5.07
    ✓Dreman> 1.5
    Return on Invested Capital-81.9%
    ✗Munger> 15%
    ROIC (high and growing)FY2023: ROIC=-69.1%; FY2024: ROIC=-196.0%; FY2025: ROIC=-98.3%
    ✗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 -98.3%)
    ✗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: Small Cap($1.2B)
Revenue: $1.3M+550.0% YoY
Net Income: $140.1M-108.3% YoY

Financial Snapshot

Operating Margin-10386.5%
Return on Equity-1752.2%
Debt / Equity12.58
Current Ratio3.93
EPS (Diluted)$-9.04
Shares Retired−0.9% / −24.0% 2y

Shareholder Return

Fiscal 2025

Issued 0.9% of shares last year, 24.0% issued over two.

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.

MetricTTM · 2026-09-30

2025-10-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: revenue, net income, operating income, ebit, pre tax income, interest expense, operating cash flow, depreciation amortization, capex.

Q3 FY 2026

2026-07-01 – 2026-09-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex.

Q2 FY 2026

2026-04-01 – 2026-06-30

Sources · derived quarter values

Derived from cumulative filings: operating cash flow, capex.

Q1 FY 2026

2026-01-01 – 2026-03-31

Sources
FY 2025
Sources
  • 10-K · 2026-03-19
FY 2024
Sources
  • 10-K · 2025-03-17
FY 2023
Sources
  • 10-K · 2025-03-17
FY 2022
Sources
  • 10-K · 2025-03-17
Market Cap$1.2Bcurrent------$1.1Best.$196.6Mest.$191.5Mest.--
Revenue--$2.0M$0↓100%--$1.3M↑550%$200.0K↓89%$1.8M--
Operating Income-$125.7M↑18%-$31.7M↑6%-$32.1M↓17%-$30.9M↑28%-$135.0M↑59%-$331.4M↓51%-$219.2M--
Net Income-$141.7M↑9%-$38.7M↓10%-$36.6M↓28%-$33.4M↑23%-$140.1M↓108%$1.7B↑799%-$241.4M--
EPS (Diluted)--$-2.46↓8%$-2.34↓26%$-2.15↑23%$-9.04↓108%$112.62↑650%$-20.48--
Gross Margin————————
Operating Margin—-1586.8%——-10386.5%↑94%-165724.0%↓1261%-12178.9%—
ROE165.0%↑139%———-1752.2%↓239%1263.3%↑328%-554.8%—
Total Debt$276.7M↑177%$276.7M↑177%$176.3M↑78%$175.0M↑77%$100.6M$0↓100%$207.0M--
Shareholders' Equity-$85.9M↓333%-$85.9M↓333%-$53.0M↓177%-$21.0M↓122%$8.0M↓94%$133.6M↑207%$43.5M↓25%$58.1M
Current Ratio7.58↑69%7.58↑69%5.07↑2%6.46↑26%3.933.94↓25%5.25—
Debt / Equity-3.22↓219%-3.22↓219%-3.33↓330%-8.32↓896%12.580.00↓100%4.76—
Operating Cash Flow-$132.7M↑7%-$34.6M↓2%-$29.9M-$38.0M↓6%-$129.8M↑33%-$194.4M↓1%-$193.3M--
Free Cash Flow-$132.7M↑7%-$34.6M↓2%-$29.9M-$38.0M↓6%-$129.8M↑34%-$197.0M-$197.9M--

Score history

Historical Score Timeline

Industry peers

Industry Peers

Similar companies in Pharmaceutical Products

INBX vs Peers — Financial Grading

Revenue$1.3MBottom 25%
Net Income$140.1MBottom 25%
ROE-1752.2%Bottom 25%
D/E12.58Bottom 25%
Op. Margin-10386.5%Bottom 25%
Curr. Ratio3.93Top 25%
CompanyMarket CapPriceRevenueNet IncomeROED/EOp. MarginCurr. RatioGrahamBuffettLynchGreenblattPiotroskiDreman
Merck & Co., Inc.MRK$364.3B$147.76$65.0B$18.3B34.7%0.94—1.542/95/94/70/3F-Score 41/11
ABBOTT LABORATORIESABT$188.0B$108.52$44.3B$6.5B12.5%0.2518.2%1.583/94/92/71/3F-Score 53/11
BRISTOL MYERS SQUIBB COBMY$129.7B$63.43$48.2B$7.1B38.2%2.4419.4%1.262/91/93/71/3F-Score 85/11
BIO-TECHNE CorpTECH$11.4B$72.80$1.2B$73.4M3.8%—8.4%3.464/93/93/70/3F-Score 54/11
REPLIGEN CORPRGEN$10.7B$167.79$738.3M$48.9M2.3%0.267.5%8.373/92/93/70/3F-Score 75/11
IONIS PHARMACEUTICALS INCIONS$4.8B$29.06$943.7M$381.4M-78.0%3.60-40.4%3.833/91/91/70/3F-Score 43/11
NEOGEN CORPNEOG$2.5B$11.23$870.4M$7.9M-0.4%0.76-2.5%3.823/91/92/70/3F-Score 64/11
Pharvaris N.V.PHVS$2.4B$33.36—$206.4M-64.8%0.00——0/90/92/70/3F-Score 22/11