TransCode Therapeutics, Inc.

RNAZNASDAQHealthcare● Active

$5.09

$-0.51(-9.11%)

Market Cap$4837032

P/E Ratio—

52W High$20.99

52W Low$3.82

Avg Volume46K

Open$5.54

Beta1.40

Free Cash Flow Financials Revenue

TransCode Therapeutics, Inc. (RNAZ) Free Cash Flow & Analysis

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

RNAZ · free cash flow · updated Jun 9, 2026

Core FCF metrics

RNAZ · FCF · TTM · margin & CAGR

Free cash flow was −$19.5M for FY2025 (fiscal year ending 2025-12-31), down 46.2% year-over-year

FY2025 Free Cash Flow−$19.5M▼ -46.2% YoY

Trailing 12M (TTM)−$4.99Btrailing 4 quarters sum

FCF Margin——

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 9, 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

RNAZ · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest−$19.5M(0M)−$19.5M▼ 46.2%—

FY2024−$13.3M(0M)−$13.4M▲ +26.2%—

FY2023−$18.1M(0M)−$18.1M▼ 14.2%—

FY2022−$15.8M(0M)−$15.9M▼ 187.3%—

FY2021−$5.3M(0M)−$5.5M▼ 1020.1%—

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

FCF valuation metrics

RNAZ · P/FCF · FCF yield · FCF per share

TransCode Therapeutics, Inc. (RNAZ) reported negative free cash flow of −$0.02B. 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

RNAZ · cash flow statement · operating / investing / financing

For FY2025, TransCode Therapeutics, Inc. generated −$19.5M in operating cash flow and spent 0M in capital expenditures, yielding −$19.5M in free cash flow.

Operating Activities

−$19.5M

Cash from core business operations

2025-12-31

Investing Activities

−$0.0M

CapEx, acquisitions & investments

2025-12-31

Financing Activities

+$31.5M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF (−$19.5M) − |CapEx| (0M) = FCF (−$19.5M)

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

View Full Cash Flow Statement →

Free cash flow vs peers (Healthcare)

RNAZ vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

TransCode Therapeutics, Inc.YOU

RNAZ

−$19.5M-46.2%—

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

TransCode Therapeutics, Inc. (RNAZ) reported free cash flow of −$19.5M for FY2025 (fiscal year ending 2025-12-31), down 46.2% year-over-year.

TransCode Therapeutics, Inc. has reported negative free cash flow in recent periods, indicating capital expenditures have exceeded operating cash flow. Data available for 8 fiscal years.

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

RNAZ free cash flow · 8 questions

TransCode Therapeutics, Inc. free cash flow was −$19.5M for FY2025, down 46.2% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at −$4.99B.

RNAZ free cash flowRNAZ FCFRNAZ FCF 2025RNAZ free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · TransCode Therapeutics, Inc. · TransCode Therapeutics, Inc. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 9, 2026