Healthcare · Biotechnology
Price
$11.85
Market Cap
$677.4M
Employees
49
Beta
0.13
Avg Volume
673,783
CEO
Riad Sherif
Business Description
Oculis Holding AG is a biopharmaceutical company in the clinical development stage, specializing in the creation of innovative eye drop medications for various ocular conditions, addressing both the anterior and posterior segments of the eye. A key asset in its therapeutic portfolio is OCS-01, a topical formulation of dexamethasone, currently progressing through Phase 3 clinical trials for the management of diabetic macular edema. Additionally, OCS-02, a topically administered biological candidate, is engaged in Phase 2b clinical studies to treat keratoconjunctivitis sicca, commonly known as dry eye disease. The company is also advancing OCS-05, an innovative neuroprotective agent, which targets acute optic neuritis and an array of other neuro-ophthalmic disorders, including glaucoma, diabetic retinopathy, geographic atrophy, and neurotrophic keratitis. This enterprise maintains its headquarters in Zug, Switzerland.
Business History
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-6.55
Stock Price: $11.85
EPS (Diluted): -1.81
EPS (Diluted): -1.81
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
4.22
Stock Price: $11.85
Total Equity: $196.29M
Shares: 52,358,000
Total Equity: $196.29M
Shares: 52,358,000
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-5.24
Market Cap: $677.36M
Total Debt: $502,569
Cash: $81.42M
EBITDA: -$93.37M
Total Debt: $502,569
Cash: $81.42M
EBITDA: -$93.37M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$750.2M
Market Cap: $677.36M
Total Debt: $502,569
Cash: $81.42M
Total Debt: $502,569
Cash: $81.42M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.00
Stock Price: $11.85
Revenue: $0.00
Shares: 52,358,000
Revenue: $0.00
Shares: 52,358,000
EV/Sales (Total value vs revenue — works when P/E can't)
API0.00
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
0.0%
Gross Profit: $0.00
Revenue: $0.00
Revenue: $0.00
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
0.0%
Operating Income: -$79.15M
Revenue: $0.00
Revenue: $0.00
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
0.0%
Net Income: -$94.51M
Revenue: $0.00
Revenue: $0.00
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-57.1%
Net Income: -$94.51M
Total Equity: $196.29M
Total Equity: $196.29M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-42.1%
Operating Income: -$79.15M
Tax Rate: -0.2%
Equity: $196.29M
Total Debt: $502,569
Cash: $81.42M
Tax Rate: -0.2%
Equity: $196.29M
Total Debt: $502,569
Cash: $81.42M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
5.96
Current Assets: $219.14M
Current Liabilities: $36.79M
Current Liabilities: $36.79M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.00
Short-Term Debt: $502,569
Long-Term Debt: $0.00
Total Debt: $502,569
Total Equity: $196.29M
Long-Term Debt: $0.00
Total Debt: $502,569
Total Equity: $196.29M
Rev/Share (Top-line per share)
Revenue / Shares Outstanding
—
Revenue: $0.00
Shares: 52,358,000
Shares: 52,358,000
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$3.75
Total Equity: $196.29M
Shares: 52,358,000
Shares: 52,358,000
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-1.19
Operating CF: -$62.22M
CapEx: -$287,470
Shares: 52,358,000
CapEx: -$287,470
Shares: 52,358,000
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $11.85
Stock Price: $11.85
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$94.51M
Net Income: -$94.51M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares OCS against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 25, 2026 12:07am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $686,000 | $0 |
| Cost of Revenue | $0 | $0 | $0 | $52.1M | $0 |
| Gross Profit | $0 | $0 | $0 | -$51.4M | $0 |
| Operating Expenses | $13.2M | $32.4M | $80.7M | $21.8M | $79.1M |
| Operating Income | -$13.2M | -$32.4M | -$80.7M | -$73.2M | -$79.1M |
| Net Income | -$18.6M | -$38.7M | -$88.8M | -$85.8M | -$94.5M |
| EBITDA | -$13.2M | -$31.9M | -$87.1M | -$85.5M | -$93.4M |
| EPS | $-0.57 | $-1.18 | $-2.97 | $-2.12 | $-1.81 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 25, 2026 12:07am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $46.3M | $19.8M | $38.3M | $27.7M | $81.4M |
| Total Current Assets | $48.0M | $23.7M | $101.0M | $104.9M | $219.1M |
| Total Assets | $58.0M | $37.1M | $114.4M | $120.4M | $236.2M |
| Current Liabilities | $4.1M | $12.0M | $19.1M | $44.2M | $36.8M |
| Long-Term Debt | $113.5M | $122.4M | $0 | $0 | $0 |
| Total Liabilities | $119.0M | $135.1M | $20.6M | $47.0M | $39.9M |
| Total Equity | -$61.0M | -$98.0M | $93.7M | $73.4M | $196.3M |
| Retained Earnings | -$72.3M | -$111.0M | -$199.8M | -$285.6M | -$385.0M |
Cash Flow (Annual)
Last updated: Jun 25, 2026 12:07am (2d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$13.8M | -$25.1M | -$53.8M | -$47.5M | -$62.2M |
| Capital Expenditure | $-28,000 | -$3.5M | $-48,000 | $-230,000 | $-287,470 |
| Free Cash Flow | -$13.9M | -$28.6M | -$53.9M | -$47.7M | -$62.5M |
| Acquisitions (net) | $0 | $0 | $0 | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $41.3M | -$26.5M | $18.5M | -$10.6M | $57.2M |
Analyst Estimates (Annual)
Last updated: Jun 26, 2026 11:09am (22h ago)| Metric | 2027 | 2028 | 2029 | 2030 |
|---|---|---|---|---|
| Revenue |
$7.2M $443,998 – $24.0M
|
$37.0M $35.6M – $38.3M
|
$108.6M $13.3M – $334.9M
|
$333.2M $40.8M – $1.0B
|
| EBITDA |
$4.3M $266,398 – $14.4M
|
$22.2M $21.4M – $23.0M
|
$65.1M $8.0M – $200.9M
|
$199.9M $24.5M – $616.6M
|
| Net Income |
-$90.9M -$117.0M – -$66.9M
|
-$90.5M -$127.7M – -$2.0M
|
-$67.2M -$249.3M – $9.5M
|
$31.5M -$4.4M – $117.0M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 25, 2026 12:07am (2d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | — | — | — | -100.0% |
| Gross Profit Growth | — | — | — | +100.0% |
| Operating Income Growth | -144.7% | -149.3% | +9.3% | -8.1% |
| Net Income Growth | -108.6% | -129.5% | +3.4% | -10.2% |
| EBITDA Growth | -142.3% | -173.0% | +1.8% | -9.2% |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for OCS — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30