What is Upstream Bio, Inc.'s free cash flow?

Upstream Bio, Inc. (UPB) reported free cash flow of -$30.69M in Q4 2025.

What does free cash flow mean?

Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.

Upstream Bio, Inc. UPB Free cash flow

Discontinued — last reported Q4 '25

Free cash flow at other companies

AmgenAMGN

$1.48B+50.7%

Regeneron PharmaceuticalsREGN

$848.3M+4.0%

Aclaris TherapeuticsACRS

-$18.16M-38.6%

Shattuck Labs, Inc.STTK

-$13.49M-12.1%

SavaraSVRA

-$33.1M-21.7%

AnaptysBio, Inc.ANAB

-$25.94M-142%

Other financials

Income statement

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Revenue$1.0M+82.7%

Operating income-$43.6M-36.2%

Net income-$40.6M-48.8%

EPS (diluted)-$0.75-47.1%

Balance sheet

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Cash & equivalents$96.7M+35.6%

Total debt$1.1M-34.5%

Total equity$304.0M-31.8%

Total assets$318.1M-30.3%

Cash flow

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Operating cash flow-$47.9M-16.2%

CapEx$54.0K-70.8%

Valuation

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Market cap$346.11M-40.9%

Enterprise value$250.5M-51.4%

P/S104.2×-151×

Profitability

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Operating margin-5,176.5%+1,764pp

Net margin-4,719%+2,752pp

Returns & leverage

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Return on equity-41.8%—

Debt / equity0×0.0×

Current ratio23.1×-24.3×

Where this comes from

Calculated from Upstream Bio, Inc.’s reported figures.

−$30.6Mnet cash from operating−$54.0Kcapital expenditures=-$30.69M

The official record: Upstream Bio, Inc.’s 10-K, filed March 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstream Bio, Inc.'s free cash flow?: Upstream Bio, Inc. (UPB) reported free cash flow of -$30.69M in Q4 2025.
What does free cash flow mean?: Free cash flow represents the cash generated by a company after accounting for cash outflows to support operations and maintain or expand its capital asset base. It serves as a critical indicator of a company's ability to fund organic growth, pay down debt, or return capital to shareholders without relying on external financing.