KalVista Pharmaceuticals, Inc.

KALVNASDAQHealthcare● Active

$26.98

+$0.03(+0.09%)

Market Cap$1.4B

P/E Ratio—

52W High$26.98

52W Low$9.83

Avg Volume3.4M

Open$26.97

Beta-0.11

Free Cash Flow Financials Revenue

KalVista Pharmaceuticals, Inc. (KALV) Free Cash Flow & Analysis

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

KALV · free cash flow · updated Jun 8, 2026

Core FCF metrics

KALV · FCF · TTM · margin & CAGR

Free cash flow was −$83.3M for FY2025 (fiscal year ending 2025-12-31), up 45.7% year-over-year The FCF margin was -113.2%.

FY2025 Free Cash Flow−$83.3M▲ +45.7% YoY

Trailing 12M (TTM)−$23.8Mtrailing 4 quarters sum

FCF Margin-113.2%−$83.3M ÷ 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

KALV · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$81.6M(2M)−$83.3M▲ +45.7%-113.2%

FY2025−$152.9M(0M)−$153.3M▼ 71.0%—

FY2024−$89.2M(0M)−$89.7M▼ 17.3%—

FY2023−$75.3M(1M)−$76.5M▲ +3.3%—

FY2022−$78.1M(1M)−$79.1M▼ 161.3%—

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

FCF valuation metrics

KALV · P/FCF · FCF yield · FCF per share

KalVista Pharmaceuticals, Inc. (KALV) reported negative free cash flow of −$0.08B. 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

KALV · cash flow statement · operating / investing / financing

For FY2025, KalVista Pharmaceuticals, Inc. generated −$81.6M in operating cash flow and spent 2M in capital expenditures, yielding −$83.3M in free cash flow.

Operating Activities

−$81.6M

Cash from core business operations

2025-12-31

Investing Activities

+$18.7M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$162.6M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$81.6M) − |CapEx| (2M) = FCF (−$83.3M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

KALV vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

KalVista Pharmaceuticals, Inc.YOU

KALV

−$83.3M+45.7%-113.2%

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

KalVista Pharmaceuticals, Inc. (KALV) reported free cash flow of −$83.3M for FY2025 (fiscal year ending 2025-12-31), up 45.7% year-over-year. The FCF margin was -113.2%.

Based on available data, KalVista Pharmaceuticals, Inc. has maintained positive free cash flow for at least 1 fiscal year(s). FCF peaked at $9.1M in FY2018.

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

KALV free cash flow · 8 questions

KalVista Pharmaceuticals, Inc. free cash flow was −$83.3M for FY2025, up 45.7% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$23.8M.

KALV free cash flowKALV FCFKALV FCF 2025KALV free cash flow TTM

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