MGTXMeiraGTx Holdings plc
Is the business good?
More warning than reassurance: thin cash backing (0.1×) and margins compressing.
Operating profit outpaces operating cash flow, watch accruals and working capital.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is MGTX?
MeiraGTx Holdings plc earns 84% on the capital it employs against a 9.0% cost of capital, so the business is worth more the bigger it gets.
Return on invested capital · cost of capital 9.0% · 75 points above what the capital costs: growth creates value
- Operating margin
- 46%
Operating margin · Biotechnology median −82% · 12 months to Q2 2026
- Cash conversion
- 0.08×
Cash conversion · the operating profit has not turned into cash yet
- Share count, year on year
- +16%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −402% |
| FY2021 | −193% |
| FY2022 | −731% |
| FY2023 | −978% |
| FY2024 | −493% |
| FY2025 | −130% |
Details›
- Operating margin12 months to Q2 2026
- 46%
- Net margin12 months to Q2 2026
- 20%
- Free cash flow margin
- 2.6%
- R&D as % of revenue
- 39%
- Revenue, trailing twelve months
- $398M
- Free cash flow, trailing twelve months
- $10M
- Net income, trailing twelve months
- $79M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 84%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.
Biotechnology
Ranks #10 of 194 by RyuScore