Fortress Biotech (FBIO) Stock Analysis & Winston Score

Fortress Biotech is a pharmaceutical company that develops and sells medicines. It focuses on specialty drugs, meaning treatments for diseases that are harder to treat and have fewer options available. The company owns or has stakes in multiple smaller drug companies, acting almost like a parent company that helps build new biotech businesses under one roof.

Fortress makes money by selling approved drugs and by collecting royalties and fees from its partner companies when those companies hit certain milestones or generate revenue. It operates mainly in the United States and has a portfolio of both commercial products and drugs still in clinical trials. The company is small, with a market cap around $100 million, and it carries significant financial risk — its operating margin is deeply negative, meaning it spends far more than it earns, which is common for early-stage biotech firms. The key risk is whether its pipeline drugs can reach approval and generate enough revenue to cover its heavy spending.

Winston Score History

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+21.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+816.7% YoY

YoY Growth Rate

EPS growth accelerating

Insider Activity

31.0%ownership

↓ Declining

Insider ownership declining — could be dilution or selling

Cash Position

Cash flow positive

$256M cash & investments

Quarterly Free Cash Flow

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Fortress Biotech is a rare growth stock that's already generating positive cash flow while growing at 21%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

0.0%

Thin — 0.0% gross margin

Operating Margin

-48.6%

Losing money on operations — -48.6%

ROCE

-3.6%

Weak — -3.6% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales YoY

+14.3%

Fast-growing sales (14.3% YoY)

EPS YoY

N/A

—

Data not available

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

-37%

Weak — only -37% of profit becomes cash

FCF Margin

-70.0%

Burning cash (-70.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

Debt / Equity

0.33

Conservative — low debt load (0.33)

Interest Cover

N/A

Data not available

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Valuation

P/E Ratio (TTM)

1.0x

no trend

Attractive valuation — P/E 1.0

P/E under 10. The price tag is small relative to last year's profit.

P/E vs Forward

-0.3

SLOWING

Earnings expected to fall — forward P/E higher than today

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Dividends

Not applicable for this business.

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