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Merus N.V.(MRUS)Earnings, Financials & Key Ratios
MRUS•NASDAQ
$90.00
Price updated Jun 20, 2026
AboutMerus N.V., a clinical-stage immuno-oncology company, engages in the discovery and development of bispecific antibody therapeutics in the Netherlands. Its bispecific antibody candidate pipeline includes Zenocutuzumab (MCLA-128), which is in a phase 2 clinical trials for the treatment of patients with metastatic breast cancer, as well as in Phase 1/2 clinical trials for the treatment of solid tumors that harbor Neuregulin 1. The company is also developing MCLA-158, which is in a phase I clinical trial for the treatment of solid tumors; MCLA-145, which is in phase 1 clinical trials for the treatment of solid tumors; MCLA-129, which is in phase 1/2 clinical trials for the treatment of patients with advanced non-small cell lung cancer and other solid tumors; and ONO-4685 that is Phase 1 clinical trial to treat relapsed/refractory T cell lymphoma. In addition, it has collaboration agreement with Betta Pharmaceuticals Co. Ltd for the research and development of stage bispecific antibody candidates include MCLA-129; and collaboration with Incyte Corporation for the development of MCLA-145. The company was incorporated in 2003 and is headquartered in Utrecht, the Netherlands.Show more
- Revenue$35M-12.4%
- EBITDA-$260M-86.6%
- Net Income-$208M-48.1%
- EPS (Diluted)-3.35-11.7%
- Gross Margin37.15%-49.5%
- EBITDA Margin-746.12%-112.9%
- Operating Margin-752.96%-111.4%
- Net Margin-595.93%-69.0%
- ROE-41.39%+11.0%
MRUS Price & Volume
Merus N.V. (MRUS) stock price & volume — 10-year historical chart
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Milestone Dependency Drives Volatile Clinical Stage Performance
Investment Thesis • Updated 2025Q3
VerdictNeutral
Growth:Mixed
Profitability:Negative
Financial:Adequate
Cash Flow:Burning
Primary Risk:Clinical trial milestone dependency
Key Thesis Takeaways
- Merus N.V.
- operates as a high-risk, clinical-stage biotechnology firm whose valuation is tethered to the success of its Biclonics and Triclonics platforms rather than consistent commercial revenue.
- While the company maintains a substantial liquidity buffer, the persistent free cash flow deficit and reliance on lumpy milestone payments create significant uncertainty for long-term capital sustainability.
- Investors should monitor the company's ability to convert its $48.9M in deferred revenue into sustainable cash flows while managing the escalating R&D intensity that reached $79.7M in 2025Q2.
Verdict Logic
while the $313.8M cash balance provides a sufficient short-term runway, the lack of recurring revenue and the high P/S ratio of 195.71 suggest that the stock is currently priced for speculative clinical success rather than fundamental operational performance.
MRUS Growth Metrics
Merus N.V. (MRUS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years38.92%
5 Years4.68%
3 Years-6.84%
TTM55.9%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-50.28%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-36.92%
Return on Capital
10 Years-47.36%
5 Years-38.34%
3 Years-44.57%
Last Year-48.43%
MRUS Recent Earnings
Merus N.V. (MRUS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 5/12 qtrs (42%)●Beat Revenue 7/12 qtrs (58%)
Q4 2025Latest
Oct 31, 2025Metric
Actual
Est
EPS
$1.23+0.0%
$1.23
Rev
$10M+15.8%
$9M
Q3 2025
Aug 5, 2025Metric
Actual
Est
EPS
$2.23-90.6%
$1.17
Rev
$9M-10.1%
$10M
Q2 2025
May 7, 2025Metric
Actual
Est
EPS
$1.40-20.7%
$1.16
Rev
$29M+289.8%
$7M
Q1 2025
Feb 27, 2025Metric
Actual
Est
EPS
$0.41+53.9%
$0.89
Rev
$9M-10.5%
$11M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q4 2025Latest | Oct 31, 2025 | $1.23vs $1.23+0.0% | $10Mvs $9M+15.8% |
| Q3 2025 | Aug 5, 2025 | $2.23vs $1.17-90.6% | $9Mvs $10M-10.1% |
| Q2 2025 | May 7, 2025 | $1.40vs $1.16-20.7% | $29Mvs $7M+289.8% |
| Q1 2025 | Feb 27, 2025 | $0.41vs $0.89+53.9% | $9Mvs $11M-10.5% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Merus N.V. (MRUS)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $90.00 | $6.83B | -26.87 | -12.38% | -595.93% | -41.39% | — | |
| $26.72 | $1.97B | -24.74 | 38.87% | -126.33% | -0.25% | — | |
| $40.09 | $8.23B | -14.47 | — | — | -68.16% | — | |
| $3.50 | $145.75M | -1029.41 | 10.37% | 52.16% | — | — | |
| $3.02 | $352.01M | -2.63 | -51.24% | -2056.79% | -58.89% | — | |
| $15.67 | $1.15B | -12.64 | 13.65% | -185.71% | -28.77% | — |
Compare MRUS vs Peers
Merus N.V. (MRUS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
MRUS SEC Filings & Documents
Merus N.V. (MRUS) SEC filings — annual & quarterly reports (10-K, 10-Q)
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MRUS Frequently Asked Questions
Merus N.V. (MRUS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Merus N.V.'s revenue?
Merus N.V. (MRUS) reported $51.2M in revenue for fiscal year 2024. This represents a 9071% increase from $0.6M in 2013.
How fast is Merus N.V. growing?
Merus N.V. (MRUS) saw revenue decline by 12.4% over the past year.
Is MRUS profitable?
Merus N.V. (MRUS) reported a net loss of $334.9M for fiscal year 2024.
Dividend & Returns
What is MRUS's return on equity?
Merus N.V. (MRUS) has a return on equity (ROE) of -41.4%. Negative ROE indicates the company is unprofitable.
What is Merus N.V.'s free cash flow?
Merus N.V. (MRUS) had negative free cash flow of $317.9M in fiscal year 2024, likely due to heavy capital investments.