12 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 25.1% per year over the past 5 years.
Operating margin has contracted, at -326.6% in the latest year.
Financial health
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
2025
$40M
-$120M
0.0%
-326.6%
-61.1%
-47.5%
-$135M
—
$65M
2024
$80M
-$65M
0.0%
-104.1%
-21.7%
-16.5%
-$19M
—
$71M
2023
$250M
$132M
0.0%
48.8%
56.0%
37.7%
$75M
—
$69M
2022
$41M
-$46M
0.0%
-124.3%
-78.6%
-29.1%
-$15M
—
$99M
2021
$37M
-$71M
0.0%
-196.8%
-74.9%
-36.7%
-$55M
—
$117M
2020
$171M
$37M
0.0%
16.0%
23.8%
14.0%
-$109M
—
$104M
2019
$104M
-$44M
0.0%
-49.5%
-43.8%
-12.3%
$41M
—
$86M
2018
$8M
-$88M
0.0%
-1195.6%
-190.1%
-49.9%
-$20M
—
$47M
2017
$10M
-$71M
0.0%
-709.1%
-52.7%
-38.3%
-$65M
—
$32M
2016
$14M
-$40M
0.0%
-290.4%
-29.6%
-21.2%
-$48M
—
$37M
2015
—
-$30M
—
—
-17.5%
-12.9%
$40M
—
$31M
2014
—
-$16M
—
—
78.3%
-141.9%
—
—
$7M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Return on equity & assets (ROE / ROA)
ROEROA
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
ROE
ROA
FCF
Total debt
Cash
Jun '26
$3M
-$24M
0.0%
-833.9%
-15.9%
-12.4%
-$26M
—
$36M
Mar '26
$3M
-$28M
0.0%
-1167.4%
-16.1%
-12.7%
-$33M
—
$43M
Dec '25
$15M
-$27M
0.0%
-195.2%
-14.0%
-10.9%
-$31M
—
$65M
Sep '25
$13M
-$28M
0.0%
-228.9%
-12.7%
-9.7%
-$31M
—
$45M
Jun '25
$5M
-$33M
0.0%
-704.3%
-13.7%
-10.4%
-$34M
—
$44M
Mar '25
$6M
-$31M
0.0%
-536.0%
-11.4%
-8.8%
-$39M
—
$75M
Dec '24
$6M
-$34M
0.0%
-610.1%
-11.5%
-8.8%
-$15M
—
$71M
Sep '24
$25M
-$9M
0.0%
-56.0%
-2.7%
-2.1%
-$28M
—
$113M
Jun '24
$30M
-$10M
0.0%
-50.8%
-3.0%
-2.3%
-$33M
—
$76M
Mar '24
$20M
-$11M
0.0%
-82.9%
-3.3%
-2.4%
$57M
—
$143M
Dec '23
-$9M
$56M
0.0%
-572.3%
23.9%
16.1%
-$25M
—
$69M
Sep '23
$5M
-$26M
0.0%
-639.5%
-14.7%
-8.8%
-$22M
—
$65M
Jun '23
$5M
-$22M
0.0%
-523.9%
-11.2%
-7.0%
-$2M
—
$244M
Mar '23
$150M
$124M
0.0%
81.7%
57.2%
36.9%
$123M
—
$268M
Dec '22
-$2M
-$24M
0.0%
1584.7%
-40.0%
-14.8%
-$13M
—
$99M
Sep '22
$41M
$18M
0.0%
35.2%
22.1%
9.7%
-$16M
—
$97M
Jun '22
$712000
-$19M
0.0%
-2720.1%
-31.8%
-10.1%
-$20M
—
$78M
Mar '22
$658000
-$21M
0.0%
-3244.7%
-28.1%
-9.5%
$34M
—
$132M
Dec '21
$28M
$6M
0.0%
20.3%
6.0%
2.9%
$11M
—
$117M
Sep '21
$1M
-$25M
0.0%
-1696.8%
-28.8%
-13.6%
-$21M
—
$111M
Valuation over time
How the market has priced VYGR against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has fallen from 3.4× (Jan '24) to 3.2× (Nov '24).
The price-to-sales ratio has fallen from 11.7× (Mar '23) to 5.1× (Sep '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is VYGR growing its revenue and profit?
Over the past 5 years, Voyager Therapeutics, Inc.'s revenue has declined 25.1% per year. These are computed facts, not advice.
How much debt does VYGR have?
As of FY2025, Voyager Therapeutics, Inc. reported — of total debt against $65M of cash.
What is VYGR's profit margin?
In FY2025, gross margin was —, operating margin -326.6%, and net margin -296.5%.
What is VYGR's P/E ratio?
As of Sep '26, Voyager Therapeutics, Inc. traded at a price-to-earnings ratio of about 3.2× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.