Sutro Biopharma (STRO) Stock Fundamentals, Analysis & Risk Signals

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

Sutro Biopharma

NasdaqGM•Healthcare•Biotechnology

$20.07-0.47(-0.02%)Market closed

Market Cap

$253.88M

P/S

5.6x

Sutro Biopharma, Inc. operates as an oncology company. The company develops site-specific and novel-format antibody drug conjugates (ADCs) that enables its proprietary integrated cell-free protein synthesis platform, XpressCF; and site-specific conjugation platform, XpressCF+. Its lead product candidate includes STRO-004, a tissue factor (TF) targeting ADC for the treatment of TF-expressing solid tumors, including non-small cell lung cancer, head and neck squamous cell carcinoma, cervical cancer, colorectal cancer, pancreatic ductal adenocarcinoma, endometrial cancer, and bladder cancer. The company also develops VAX-24 and Vax-31 pneumococcal conjugate vaccine candidates that is in Phase II/III clinical trials for the treatment of invasive pneumococcal disease in adults and adults and infants; and STRO-003, an ADC directed against an anti-receptor tyrosine kinase-like orphan receptor 1 (ROR1) for the treatment of solid tumors, such as triple negative breast cancer, non-small cell lung cancer, and ovarian cancer, as well as hematological cancers. Sutro Biopharma, Inc. has collaboration and license agreements with Vaxcyte to discover and develop vaccine candidates for the treatment or prophylaxis of infectious diseases; Tasly Biopharmaceuticals Co., Ltd. to develop and commercialize STRO-002 in Greater China; Ipsen to develop and commercialize STRO-003, an ADC targeting ROR1; and Astellas Pharma Inc. to develop immunostimulatory ADC. The company was formerly known as Fundamental Applied Biology, Inc. Sutro Biopharma, Inc. was incorporated in 2003 and is headquartered in South San Francisco, California.

How this company scores

WeakMetricSide Score: 34/100

Grade capped at D — Negative equity — the balance sheet is insolvent. Strongest: Growth (11/25); weakest: Balance Sheet & Red Flags (7/25).

Profitability8/25

Growth11/25

Balance Sheet & Red Flags7/25

Cash & Earnings Quality8/25

Strengths

Profit converts from growthNet cash positionNo share dilution

Grade capped at D

Negative equity — the balance sheet is insolvent.
Interest coverage below 1× (-3.7x) — earnings cannot cover interest.

Valuation vs. 5-year range

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

P/S · 5.6x5y range 1.0x – 144.7x

Currently below its 20-quarter median.

P/B · 34.3x5y range 11.8x – 34.3x

Currently above its 14-quarter median.

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 $253.88M

Metrics at a Glance

as of June 2026

Revenue & Profit

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

TTM Revenue: $45.70M
Q. Revenue: $9.84M
TTM EBITDA: $-139.99M
TTM Op. Income: $-146.05M
Q. Op. Income: $-29.89M
TTM Net Income: $-180.64M
Q. Net Income: $-38.53M
EPS: $-2.33
Shares Out.: $16.57M

$45.70M in TTM revenue declined 56.3% YoY, reaching $9.84M last quarter. TTM EBITDA of $-139.99M and TTM operating income of $-146.05M show growth is flowing through to the bottom line. However, net income is negative at $180.64M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has fallen for 3 consecutive quarters — a weakening trend.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: -290.9%
Op. Margin: -303.8%
Net Margin: -391.6%

Op. margin of -303.8% is down 298.5% YoY — costs are rising relative to revenue. Net margin at -391.6% Over the past year, operating margin is down 5689% — a weakening trend.

Price Ratios

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

P/E Ratio: N/A
P/S Ratio: 5.6x
P/B Ratio: N/A

P/S of 5.6x and P/B of 0.0x.

Assets & Liabilities

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

Total Assets: $194.46M
Cash: $54.34M
Long-Term Debt: N/A
Book Value: $-103.32M
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: $-38.29M
TTM Free Cash Flow: $-145.62M
FCF Margin: -318.6%
FCF / Net Income: 0.8

TTM FCF of $-145.62M on $-38.29M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 4 consecutive quarters — an improving trend.