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Other financials

Income statement

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Revenue$350.0K-48.3%
Operating income-$90.8M-18.2%
Net income-$83.7M-18.9%
EPS (diluted)-$0.410.0%

Balance sheet

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Cash & equivalents$121.2M+6.4%
Total debt$30.7M-10.3%
Total equity$890.0M+33.7%
Total assets$967.5M+32.7%

Cash flow

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Operating cash flow-$54.1M+2.1%
Free cash flow-$44.9M+22.5%

Valuation

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Market cap$4.3B+611%
Enterprise value$4.21B+702%
P/S415.9×+343×

Profitability

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Operating margin-2,999.4%-637pp
Net margin-2,763.6%-568pp
FCF margin-1,536%-429pp

Returns & leverage

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Return on equity-36.8%-6.3pp
Debt / equity0.0×
Current ratio18.3×-2.7×

Where this comes from

Reported directly by Relay Therapeutics, Inc. in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The source filing: Relay Therapeutics, Inc.’s 10-K, filed February 26, 2026.

Filed
Feb 25, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0001193125-26-076739
Line itemYear Ended December 31, 2025Year Ended December 31, 2024Year Ended December 31, 2023
Other liabilities(1,527)786(24,948)
Net cash used in operating activities(235,455)(249,107)(300,316)
Cash flows from investing activities:
Purchases of property and equipment(410)(2,018)(4,126)
Purchases of investments(122,971)(650,629)(385,542)
Proceeds from maturities and sales of investments316,180611,564647,302
Net cash provided by (used in) investing activities192,799(41,083)257,634
Cash flows from financing activities:

Item 16. Form 10-K Summary

FAQ

What is Relay Therapeutics, Inc.'s capex?
Relay Therapeutics, Inc. (RLAY) reported capex of $1K in Q4 2025.
What is the long-term trend for Relay Therapeutics, Inc.'s capex?
Over 4 years (2021 to 2025), Relay Therapeutics, Inc.'s capex has grown at a -41.3% compound annual growth rate (CAGR), from $3.47M to $411K.
What does capex mean?
Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

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