profit from every $100 of sales.
$0$100
Incannex Healthcare
$2.19-2.23% today
-79.0% in 1 year
1-year low $2.191-year high $14.36
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2021 to 2024.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
It holds more cash than debt.
No debt5 years
Money in, money out
What Incannex Healthcare sold, what it kept, and what it did with the cash.
Sales went from $1.43 million in 2021 to $12,000 in 2024, with -$18.5 million of profit last year.
SalesProfit
Incannex Healthcare vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from $100 of sales | Sales growth a year | Price per $1 of profit |
|---|---|---|---|
| Incannex Healthcare | No profit yet | ||
 Merck KGaA | 24.9× · Fair price | ||
 Takeda Pharmaceutical | 98.8× · Very expensive | ||
 Galderma Group | 88.6× · Very expensive | ||
 Teva Pharmaceutical Industries | 35.6× · Expensive |
AI analysis
An AI analyst reads Incannex Healthcare's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of USD | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| 1 | 0 | 0 | 0 | |
| 1 | -0 | 0 | – | |
| -9 | -10 | -14 | -19 | |
| -9 | -10 | -14 | -18 | |
| -9 | -10 | -49 | -18 | |
| – | -1.03 | -1.03 | -34.50 | |
| 51.9% | – | – | – | |
| -601.3% | – | – | -155,058.3% | |
| -599.3% | – | – | -153,825.0% |
Balance sheet
| In millions of USD | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Total assets | 7 | 26 | 24 | 17 |
| Cash | 7 | 26 | 22 | 6 |
| Total debt | – | 0 | 1 | 0 |
| Total liabilities | 1 | 1 | 3 | 6 |
| 6 | 25 | 21 | 11 | |
| – | 10 | 13 | 1 | |
| -105.1% | -32.5% | -50.5% | -125.6% | |
| -132.6% | -41.6% | -234.4% | -164.6% |
Cash flow
| In millions of USD | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| -5 | -9 | -11 | -16 | |
| – | – | 0 | 0 | |
| -5 | -9 | -11 | -16 | |
| Dividends paid | – | – | – | – |
| – | – | – | – | |
| 0 | 1 | 2 | 9 |
Valuation
- –
- –
- –
- 0.7×
- 2,289.4×
- –
- –
- -58.7%
- -67.2%
- 0.0%
Profitability
- 100.0%
- -155,058.3%
- -153,825.0%
- -70,884.3%
- -48.9%
- -196.9%
- -199.1%
- -77.6%
- -49.0%
- 21,470.8%
Growth
- −79.7%
- –
- +22.3%
- –
- −38.7%
Financial health
- -0.3×
- 0.00
- 0.3%
- -57.2×
- 45.31
- 45.31
- 0.00
How it ranks in Healthcare
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 8%of 948
Bottom 1%of 868
Bottom 1%of 985
Recent earnings
Our results feed has not updated since May 21, 2026. Results reported after that are not in this table yet.
| Date | EPS | Expected | Surprise |
|---|---|---|---|
| May 15, 2026 | -0.60 | -0.60 | +0.0% |
| Sep 29, 2025 | -0.39 | -0.29 | −34.5% |
| May 15, 2025 | -0.24 | -0.46 | +47.8% |
| Nov 14, 2024 | -1.36 | – | – |
| Sep 30, 2024 | -0.39 | -0.76 | +48.7% |
| May 15, 2024 | -1.76 | – | – |
| Mar 1, 2024 | -1.45 | – | – |
| Dec 1, 2023 | 9.08 | – | – |
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/6Passes 1 of 6. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
36No pass
Benjamin Graham
72Pass
Philip Fisher
58No pass
Peter Lynch
–Not enough data
Joel Greenblatt
2No pass
Charlie Munger
58No pass
Terry Smith
50No pass
Questions about Incannex Healthcare
Is Incannex Healthcare a good stock to buy?
A business with weak numbers that is not profitable yet. 1 of the 6 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Incannex Healthcare AI analysis
What does Incannex Healthcare do?
Incannex Healthcare Limited engages in the research, development, and sale of medicinal cannabinoid products in Australia. It offers pharmaceutical grade cannabinoid products under the Incannex brand name. It is in Drug Manufacturers - Specialty & Generic.
Does Incannex Healthcare pay a dividend?
No. Incannex Healthcare does not pay a dividend at the moment.
Is Incannex Healthcare stock halal?
No. Incannex Healthcare does not pass our halal screen: its cash and receivables are 58% of its market value, at or above the 49% limit. How we check
How has Incannex Healthcare stock done over the past year?
Down 79.0% over the past twelve months, to $2.19. It traded between $2.19 and $14.36 and is 84.7% below its high.
Who are Incannex Healthcare's competitors?
The largest listed companies in the same industry are Merck KGaA, Takeda Pharmaceutical, Galderma Group and Teva Pharmaceutical Industries. The peers table on this page compares their profit, growth and price with Incannex Healthcare's.
Prices: daily closes to Nov 9, 2026. Fundamentals: company reports via invest-like data.