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Cullinan Therapeutics, Inc. CGEM Price / book

Price / book at other companies

Eli LillyLLY

26.3×-20.7×

Johnson & JohnsonJNJ

7.3×+2.1×

AmgenAMGN

20.6×-6.3×

Regeneron PharmaceuticalsREGN

2.6×+0.2×

Janux TherapeuticsJANX

0.9×-0.7×

Nektar TherapeuticsNKTR

3.6×-5.6×

Other financials

Income statement

Revenue-—

Operating income-$53.7M+2.4%

Net income-$49.7M-2.4%

EPS (diluted)-$0.69+24.2%

Balance sheet

Cash & equivalents$75.1M-2.1%

Total debt$2.4M+29.5%

Total equity$408.7M-30.8%

Total assets$403.0M-30.5%

Cash flow

Operating cash flow-$46.0M-6.7%

CapEx$11.0K—

Free cash flow-$38.1M-4.1%

Valuation

Market cap$1.08B+140%

Enterprise value$1.01B+168%

Profitability

Operating margin-358.7%—

Net margin-346.1%—

Returns & leverage

Return on equity-44%+26.2pp

Debt / equity0×0.0×

Current ratio10.3×-1.3×

Where this comes from

Calculated from Cullinan Therapeutics, Inc.’s reported figures.

market cap/total stockholders equity=1.5×

Based on the most recent quarter.

The official record: Cullinan Therapeutics, Inc.’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Cullinan Therapeutics, Inc.'s price / book?: Cullinan Therapeutics, Inc. (CGEM) reported price / book of 1.5× in Q4 2025.
How has Cullinan Therapeutics, Inc.'s price / book changed year-over-year?: Cullinan Therapeutics, Inc.'s price / book increased by 24.5% year-over-year, from 1.2× to 1.5×.
What is the long-term trend for Cullinan Therapeutics, Inc.'s price / book?: Over 4 years (2021 to 2025), Cullinan Therapeutics, Inc.'s price / book has grown at a -1.9% compound annual growth rate (CAGR), from 1.6× to 1.5×.
What does price / book mean?: Market capitalization at the quarter end divided by shareholders' equity. The premium (or discount) the market assigns to the company's book equity.