SL Science Holding Limited (SLBT) AI Stock Analysis
SLBT AI stock analysis summary
AI ResearchSL Science Holding Limited is a biotechnology and skin care company that manufactures cosmetic and scalp products while offering cellular research services. In FY2025, revenue fell 34.7% to $2.2M as net losses deepened to -$3.8M. The company holds $1.3M in cash and short-term investments against an enterprise value of $907.4M.
- Market cap
- $858.0M
- Revenue (TTM)
- $3.3M
- P/E
- —
- 1Y return
- -85.2% S&P 500 16.8%
- Avg. target
- —
Bull case
- Revenue expanded at a two-year CAGR of 58.1% between FY2023 and FY2025, reaching $2.2M.
- The balance sheet maintains net cash of $1.0M and a current ratio of 3.05 as of December 31, 2025.
- Insiders hold 59.5% of the company's shares, demonstrating strong internal ownership alignment.
Bear case
- Revenue dropped 34.7% in FY2025 to $2.2M, while net losses expanded to -$3.8M.
- Free cash flow burn of -$2.2M in FY2025 exceeded total cash and short-term investments of $1.3M.
- The company's price-to-sales ratio of 262.4x trades at a substantial premium to the median of 4.1x for its US-listed Healthcare peers.
What SL Science does
SL Science Holding Limited, formerly known as SL BIO Co., Ltd. until June 2026, is based in Taipei, Taiwan, and had 14 employees. The company manufactures cosmetic skin care and scalp care products, including SL bio's milk-derived exosome essence, SL bio's tangerine-derived extract, and the MilkExo concentrate series. In addition to commercial product manufacturing, the company provides research services focusing on armed T-cells, gamma delta T-cells, citrus reticulata (tangerine) extract, and milk-derived exosomes.
Growth and profitability
Annual revenue expanded from $878,971 in FY2023 to $3.4M in FY2024, a growth rate of 282.7%, before revenue fell 34.7% to $2.2M in FY2025. Over the two-year period from FY2023 to FY2025, revenue grew at a CAGR of 58.1%. Profitability compressed over the same span, with gross margin dropping from 84.0% in FY2023 to 57.5% in FY2024 and 35.3% in FY2025. Operating margin declined from 11.0% in FY2023 to -35.6% in FY2024 and -174.6% in FY2025, while net income shifted from $399,035 in FY2023 to -$1.2M in FY2024 and -$3.8M in FY2025. In the latest quarter ended December 31, 2025, quarterly revenue fell 7.6% year-over-year, and trailing twelve-month revenue was $3.3M with an operating margin of -142.6%.
Balance sheet and cash flow
As of December 31, 2025, the company held $1.3M in cash and short-term investments with total debt of $213,405, leaving net cash of $1.0M. Total assets stood at $2.8M against shareholders' equity of $2.3M, supporting a current ratio of 3.05 and a debt-to-equity ratio of 0.09. FY2025 operating cash flow was -$1.9M and free cash flow was -$2.2M, which included capital expenditures of $319,685.
Valuation and performance
With a market capitalization of $858.0M and an enterprise value of $907.4M, the stock trades at a price-to-sales ratio of 262.4x and an EV-to-revenue multiple of 413.0x. These multiples sit substantially above the median of its US-listed Healthcare peers, which have a median price-to-sales multiple of 4.1x. Its price-to-book ratio is 397.8x. Over the past year, the shares fell 85.2%, trailing the S&P 500 (SPY) gain of 16.8%. The stock last closed at $1.53 on October 16, 2026, resting 76.7% below its 200-day average and near its 52-week low of $1.42.
What analysts expect
Consensus analyst ratings, forward earnings estimates, and formal price targets are not published for SL Science Holding Limited following its 2026 public listing. Over the trailing twelve months ended December 31, 2025, the company recorded an EPS of -$0.01. According to ownership records, insiders hold 59.5% of outstanding shares, institutional ownership stands at 0.3%, and the short interest is 0.0% of float.
Key risks and what to watch
- Operating margin deteriorated to -174.6% in FY2025 and sits at -142.6% over the trailing twelve months.
- Annual free cash flow burn of -$2.2M poses liquidity pressure on the existing $1.3M cash reserve.
- The stock has dropped 85.2% over the past year and trades 76.7% below its 200-day average.
- The enterprise value of $907.4M is supported by $3.3M in trailing twelve-month revenue.
AI-generated research summary. Written with AI from Quotelinks data as of October 16, 2026 and checked so every figure matches that data. For information only, not investment advice. Disclaimer
About this SLBT AI stock analysis
This page is an AI-written research summary of SL Science Holding Limited (SLBT). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.
Related: SLBT income statement, SLBT balance sheet, SLBT key metrics, SLBT chart. See the SLBT stock overview for the latest quote and news.
SLBT AI stock analysis FAQ
What products does SL Science Holding Limited produce?
SL Science Holding Limited manufactures cosmetic skin care and scalp care products, such as milk-derived exosome essence, tangerine-derived extract, and the MilkExo concentrate line. The company also provides research services involving armed T-cells, gamma delta T-cells, and exosome extracts.
What were the financial results for SL Science in FY2025?
In FY2025, revenue fell 34.7% to $2.2M from $3.4M in FY2024. Net income fell to -$3.8M, corresponding to a net margin of -173.8% and an operating margin of -174.6%.
What is the financial position of SLBT?
As of December 31, 2025, the company reported $1.3M in cash and short-term investments against $213,405 in total debt, giving it net cash of $1.0M. Its current ratio stood at 3.05, with total assets of $2.8M.
Does SLBT pay a dividend?
No, the company does not pay a dividend. In FY2025, the company posted an operating cash flow of -$1.9M and free cash flow of -$2.2M.
How has SLBT stock performed compared to the S&P 500?
Over the trailing 12 months, SLBT shares fell 85.2% to close at $1.53 on October 16, 2026. In comparison, the S&P 500 (SPY) returned 16.8% over the same period.