MeritValue

Apogee Therapeutics, Inc.

APGEdata completeness 63%3 fiscal years on file
i. The business — what you’d actually own
FigureFY 2023FY 2024FY 2025
Revenue———
Net income−$84M1−$182.1M1−$255.8M1
Operating cash flow−$74.8M2−$171.2M2−$227.5M2
Capital expenditure$167,0003$1.15M3$5.15M3
Free cash flow (derived)−$74.9M2,3−$172.3M2,3−$232.6M2,3
Total debt———
Cash & equivalents$118.3M4$141.8M4$131.5M4
Diluted shares25.0M55.2M60.7M

Superscripts are receipts. Each links to the SEC filing the number came from (full list at the bottom). A derived or summed figure cites every filing line it was built from.

ii. Your slice — ownership made literal
If you owned
shares
Net assets behind them
—
your share of equity
Profit it earned you last year
−$42.16
Free cash flow it threw off
−$38.32
Debt you’d be carrying
—

10 shares of this business that earned you −$42.16 and generated −$38.32 of cash last year.

iii. Is this a good business?
Moat signal · return on equity
— avg · 3y

Not enough data in the filings for a return-on-capital reading.

seeing a moat in the numbers →
Management signal · capital allocation
+143% shares · 3y

Share count is up 143% over 3 years — owners have been diluted. Worth asking what they got for it.

reading capital allocation →

Signals, not verdicts — read from the filings above. Numbers don’t prove a moat; they show its footprint. You decide.

iv. What it’s worth —

Different models answer different questions — which to trust when →

Beyond this page

This page is free, and so is every other company on MeritValue.

In your AI assistant

Connect the MeritValue MCP server to Claude or another MCP client, ask about Apogee Therapeutics, Inc., and get these exact figures with their filing receipts — not an improvised DCF.

Get a free key →
Screen by model

Pull the companies with a published value under any model (up to 500 a request, filtered by data completeness) into your own sheet or agent. Screening is what Analyst adds, at $9/month.

See pricing →
On iPhone

Follow APGE and keep your own price beside the value. The same engine, with the same receipts.

MeritValue on the App Store →
Sources — the receipts
  1. 10-K filed 2026-03-02 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001974640-26-000002 (NetIncomeLoss)
  2. 10-K filed 2026-03-02 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001974640-26-000002 (NetCashProvidedByUsedInOperatingActivities)
  3. 10-K filed 2026-03-02 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001974640-26-000002 (PaymentsToAcquirePropertyPlantAndEquipment)
  4. 10-K filed 2026-03-02 · periods ending 2023-12-31, 2024-12-31, 2025-12-31 · accession 0001974640-26-000002 (CashAndCashEquivalentsAtCarryingValue)