What is Upstream Bio, Inc.'s return on invested capital?

Upstream Bio, Inc. (UPB) reported return on invested capital of -58.9% in Q1 2026.

What does return on invested capital mean?

Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.

Upstream Bio, Inc. UPB Return on invested capital

Return on invested capital at other companies

AmgenAMGN

14.1%+4.0pp

Regeneron PharmaceuticalsREGN

10.3%-2.0pp

Aclaris TherapeuticsACRS

-69%-21.3pp

Shattuck Labs, Inc.STTK

-579.2%-1,580pp

SavaraSVRA

-82.5%+8.5pp

AnaptysBio, Inc.ANAB

-255.3%-510pp

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%

Free cash flow-$30.7M-55.0%

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.

nopat/invested capital=-58.9%

Based on trailing twelve months.

The official record: Upstream Bio, Inc.’s 10-Q, filed May 13, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Upstream Bio, Inc.'s return on invested capital?: Upstream Bio, Inc. (UPB) reported return on invested capital of -58.9% in Q1 2026.
What does return on invested capital mean?: Net operating profit after tax (operating income taxed at the effective rate) divided by average invested capital (debt plus equity minus cash). Measures the after-tax return on all capital put to work in the business, independent of capital structure.