All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
7 warning events since 2017; the latest 2026-08-27.
From the record
Forte Biosciences, Inc.'s filings since 2017 show 7 warning events of 2 kinds: a notice about its exchange listing (8-K item 3.01, 4 times, the latest 2026-08-27); an auditor change (8-K item 4.01, 3 times, the latest 2023-12-08) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
-9.8% a year over 4 filed years; profitable in 0 of 4.
From the record
Forte Biosciences, Inc.'s 4 filed years say what it did: revenue went from $49 thousand in fiscal 2016 to $36 thousand in fiscal 2019, down 9.8% a year; it rose in 1 of 3 years; the deepest fall was 100% from fiscal 2018 to fiscal 2019; net income was positive in 0 of 4 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 5.8/10, confidence 20 of 100 (family median).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Forte Biosciences, Inc.'s shareholder treatment is put at 5.8 of 10 with a confidence of 20 of 100, because fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income, so the desk assumes the typical reading of its industry family, the median of 295 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
ROE -114%: lost 114¢ per shareholder dollar. Leverage 26%: owes 26¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Forte Biosciences, Inc. lost about 114 cents for every dollar of shareholders' money. Leverage: it owed about 26 cents per dollar of assets (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
bottom 13% of 315 in its family; net margin -11302.8%.
From the record
Forte Biosciences, Inc.'s standing among 315 graded names in its industry family: revenue of $36 thousand in fiscal 2019 ranks in the bottom 3% by size; a net margin of -11302.8% ranks in the bottom 10%; revenue growth of -9.8% a year over the last 3 filed years ranks in the bottom 26% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 44% of 315 in its family for leadership; chief executive since 2020.
From the record
Forte Biosciences, Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Wagner, Paul A. (CEO, Secretary and Chair of the Board, as filed), filing under that title since 2020-06-17, 6.4 years (top 34% of its family); the 9 officers and directors filing in the last fifteen months have been on the record a median of 4.5 years (bottom 28%); 5 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (bottom 38%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
SI estimate 9.3/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Forte Biosciences, Inc.'s room to expand is put at 9.3 of 10 with a confidence of 35 of 100, because read from one part only, cash less debt against assets, which ranks in the top 7% of 479 in its family; the record does not carry two of the four parts: cash less debt against assets, cash from operations less capital spending against revenue, gross margin, research against revenue. A filing that carries the missing parts replaces this estimate with the filed reading.
What could actually drive growth from here?
top 46% of 306 in its family for growth drivers.
From the record
Forte Biosciences, Inc.'s growth drivers, from the filed years to fiscal 2019: revenue grew -9.8% a year over the last three filed years against -9.8% over all 4, speeding up (top 40% of its family); the newest year grew -99.8% (bottom 1%); research spending grew 117.6% a year (top 2%); capital spending grew -5.4% a year (top 44%) (its annual reports). Forte Biosciences, Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 40% of 233 in its family for expectations against reality.
From the record
Forte Biosciences, Inc.'s newest year against its own record: revenue of $36 thousand in fiscal 2019 came in 100% below the $347 million its prior three years' pace pointed to (bottom 1% of its family); net income of $4 million against a prior three-year average of $40 million (top 19%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 2%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made