4D Molecular Therapeutics, Inc.

FDMTNASDAQHealthcare● Active

$8.64

$-1.37(-13.69%)

Market Cap$451666835

P/E Ratio—

52W High$12.34

52W Low$3.68

Avg Volume744K

Open$9.93

Beta2.76

Free Cash Flow Financials Revenue

4D Molecular Therapeutics, Inc. (FDMT) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

FDMT · free cash flow · updated Jun 8, 2026

Core FCF metrics

FDMT · FCF · TTM · margin & CAGR

Free cash flow was −$109.1M for FY2025 (fiscal year ending 2025-12-31), up 21.2% year-over-year The FCF margin was -128.0%.

FY2025 Free Cash Flow−$109.1M▲ +21.2% YoY

Trailing 12M (TTM)−$130.1Mtrailing 4 quarters sum

FCF Margin-128.0%−$109.1M ÷ revenue

3-Year CAGRN/AN/A — contains negative FCF

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

FDMT · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$109.1M(1M)−$109.1M▲ +21.2%-128.0%

FY2024−$134.6M(4M)−$138.4M▼ 76.1%—

FY2023−$75.8M(3M)−$78.6M▲ +20.0%-379.1%

FY2022−$86.7M(12M)−$98.2M▼ 25.5%—

FY2021−$69.1M(9M)−$78.2M▼ 50.7%-433.8%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

FDMT · P/FCF · FCF yield · FCF per share

4D Molecular Therapeutics, Inc. (FDMT) reported negative free cash flow of −$0.11B. FCF-based valuation ratios are not meaningful when FCF is negative.

FCF Yield (TTM)

N/A

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

N/A

TTM FCF ÷ Shares Outstanding

Price / FCF

N/A

Share Price ÷ FCF per Share

EV / FCF (TTM)

N/A

Enterprise Value basis

FCF-based valuation ratios are only meaningful when free cash flow is positive. Negative FCF indicates capital expenditures exceeded operating cash flow.

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

FDMT · cash flow statement · operating / investing / financing

For FY2025, 4D Molecular Therapeutics, Inc. generated −$109.1M in operating cash flow and spent 1M in capital expenditures, yielding −$109.1M in free cash flow.

Operating Activities

−$109.1M

Cash from core business operations

2025-12-31

Investing Activities

−$93.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$113.0M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$109.1M) − |CapEx| (1M) = FCF (−$109.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

FDMT vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

4D Molecular Therapeutics, Inc.YOU

FDMT

−$109.1M+21.2%-128.0%

Loss

UnitedHealth Group Incorporated

UNH

$16.07B-22.4%3.6%

82%

Eli Lilly and Company

LLY

$8.97B+2065.6%13.8%

46%

Healthcare · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

4D Molecular Therapeutics, Inc. (FDMT) reported free cash flow of −$109.1M for FY2025 (fiscal year ending 2025-12-31), up 21.2% year-over-year. The FCF margin was -128.0%.

Based on available data, 4D Molecular Therapeutics, Inc. has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $7.7M in FY2017.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

FDMT free cash flow · 8 questions

4D Molecular Therapeutics, Inc. free cash flow was −$109.1M for FY2025, up 21.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$130.1M.

FDMT free cash flowFDMT FCFFDMT FCF 2025FDMT free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · 4D Molecular Therapeutics, Inc. · 4D Molecular Therapeutics, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026