Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. BioXcel Therapeutics's retained earnings for the quarter that ended in Mar. 2026 was $-732.79 Mil.
BioXcel Therapeutics's quarterly retained earnings
declined
from Sep. 2025 ($-707.55 Mil) to Dec. 2025 ($-720.09 Mil) and
declined
from Dec. 2025 ($-720.09 Mil) to Mar. 2026 ($-732.79 Mil).
BioXcel Therapeutics's annual retained earnings
declined
from Dec. 2023 ($-590.60 Mil) to Dec. 2024 ($-650.20 Mil) and
declined
from Dec. 2024 ($-650.20 Mil) to Dec. 2025 ($-720.09 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
BioXcel Therapeutics Retained Earnings Historical Data
* Premium members only.
The historical data trend for BioXcel Therapeutics's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $-732.79 Mil mean?
BioXcel Therapeutics (BTAI) has a Retained Earnings of $-732.79 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on BioXcel Therapeutics and its competitors.
Is BioXcel Therapeutics' Retained Earnings too high?
BioXcel Therapeutics' current Retained Earnings is $-732.79 Mil. Overall, BioXcel Therapeutics has a GF Score™ of 8/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does BioXcel Therapeutics' Retained Earnings compare to MRMD and RMTI?
BioXcel Therapeutics' Retained Earnings of $-732.79 Mil can be compared against companies in the Drug Manufacturers industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Drug Manufacturers company?
A good Retained Earnings depends on the Drug Manufacturers industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on BioXcel Therapeutics and its competitors. BioXcel Therapeutics's current Retained Earnings is $-732.79 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BioXcel Therapeutics stock overvalued right now?
Based on GuruFocus' analysis, BioXcel Therapeutics (BTAI) is currently considered Modestly Overvalued. The stock's GF Value™ is $0.66, compared to a current price of $0.79 — trading 20.1% above its estimated fair value. The current Retained Earnings is $-732.79 Mil. BioXcel Therapeutics' overall GF Score™ is 8/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For BioXcel Therapeutics (BTAI), the current Retained Earnings is $-732.79 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is BioXcel Therapeutics (BTAI) Overvalued in 2026?
Based on GuruFocus' analysis, BioXcel Therapeutics stock appears to be overvalued.
The current stock price of $0.79 is trading 20.1% above its estimated GF Value™ of $0.66.
GuruFocus considers BioXcel Therapeutics to be Modestly Overvalued.
Key valuation signals for BTAI:
Retained Earnings: $-732.79 Mil
GF Value™: $0.66 vs. price of $0.79 (20.1% above fair value)
No single metric tells the full story. See the BTAI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
BioXcel Therapeutics Inc is a clinical-stage biopharmaceutical company. The company is focused on drug development utilizing novel artificial intelligence (AI) to identify the next wave of medicines across neuroscience and immuno-oncology. The pipeline products of the company are-BXCL501, being evaluated as a potential treatment for agitation associated with multiple neurological disorders and BXCL701, an investigational oral innate immune activator for the treatment of aggressive forms of prostate cancer and other solid and liquid tumors. The company's commercial product, IGALMI (developed as BXCL501) is a proprietary, sublingual film formulation of dexmedetomidine approved by the FDA for the acute treatment of agitation associated with schizophrenia or bipolar I or II disorder in adults.
8GF Score
Get the complete analysis for BTAI
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BTAI has been successfully added to your 
