Denali Therapeutics (DNLI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Denali Therapeutics

NasdaqGS•Healthcare•Biotechnology

$20.06-0.32(-0.02%)Pre-market

Market Cap

$3.69B

P/S

1024.9x

P/B

4.4x

Denali Therapeutics Inc., a biopharmaceutical company, discovers and develops therapeutics to treat neurodegenerative and lysosomal storage diseases. The company develops Eclitasertib (SAR443122/DNL758) RIPK1 inhibitor program for peripheral inflammatory diseases; BIIB122/DNL151 LRRK2 inhibitor program for Parkinson's disease; TAK-594/DNL593 program for frontotemporal dementia-granulin; DNL126 program for MPS IIIA (Sanfilippo Syndrome A); and DNL310 Tividenofusp alfa, an enzyme replacement therapy program for MPS II (Hunter Syndrome). Its Enzyme TransportVehicle (TV) programs include DNL952 for the treatment of Pompe disease; DNL111 for Parkinson's and Gaucher diseases; and DNL622 for Hurler syndrome (MPS I). The company's OTV programs also comprise DNL628 targeting tau for Alzheimer's disease; and DNL422 targeting alpha synuclein for Parkinson's disease, as well as antibody TV program includes DNL921 targeting Abeta for treating Alzheimer's disease. The company was formerly known as SPR Pharma Inc. and changed its name to Denali Therapeutics Inc. in March 2015. Denali Therapeutics Inc. was incorporated in 2013 and is headquartered in South San Francisco, California.

How this company scores

WeakMetricSide Score: 33/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Profitability (5/25).

Profitability5/25

Growth7/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality6/25

Strengths

Interest easily coveredNet cash positionImproving margins

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 203.5x5y range 203.5x – 203.5x

P/S · 1024.9x5y range 8.3x – 3094.1x

Currently above its 13-quarter median.

P/B · 4.4x5y range 2.1x – 5.9x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $3.69B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.60M
Q. Revenue: $3.60M
TTM EBITDA: $-530.47M
TTM Op. Income: $-542.70M
Q. Op. Income: $-130.54M
TTM Net Income: $-511.45M
Q. Net Income: $-127.55M
EPS: $-0.68
Shares Out.: $187.31M

$3.60M in TTM revenue grew from zero YoY, reaching $3.60M last quarter. TTM EBITDA of $-530.47M and TTM operating income of $-542.70M show growth is flowing through to the bottom line. However, net income is negative at $511.45M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 0% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 97.4%
EBITDA Margin: -3523.1%
Op. Margin: -3622.1%
Net Margin: -3539.2%

Op. margin of -3622.1% is up 13496296377.9% YoY — cost efficiency is improving. Net margin at -3539.2% and gross margin of 97.4% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 3 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 1024.9x
P/B Ratio: 4.4x

P/S of 1024.9x and P/B of 4.4x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $1.16B
Cash: $201.53M
Long-Term Debt: N/A
Book Value: $835.18M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-97.00M
TTM Free Cash Flow: $-437.46M
FCF Margin: -12138.1%
FCF / Net Income: 0.9

TTM FCF of $-437.46M on $-97.00M in operating cash flow. The FCF / Net Income ratio of 0.9x means free cash flow covers net income — earnings are backed by cash. Over the past year, free cash flow is down 19% — a weakening trend.