Mesoblast Limited (MESO)

Nasdaq: MESO · Biological Products, (No Diagnostic Substances) · Melbourne, Victoria, AU · filing with the SEC since 2005

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Grade5.5

◀ Past 4.5● Present 5.1▶ Future 6.4

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Mesoblast Limited

Nine metrics read from its own filings, by tense

Headline grade

5.5/10

◀ Past4.525% of the headline

● Present5.135% of the headline

▶ Future6.440% of the headline

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.

◀ Past

What did they actually do?

4.5/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

8.0/10

Has it survived what it has been through?

No warning events in its filings since 2017.

weight 22% of this tense · 80th percentile among 159 sector filers · read for itself

From the record

Mesoblast Limited's filings since 2017 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

2.8/10

What has it actually done, year after year?

-9.6% a year over 10 filed years; profitable in 0 of 10.

weight 45% of this tense · 28th percentile among 102 sector filers · read for its customers

From the record

Mesoblast Limited's 10 filed years say what it did: revenue went from $43 million in fiscal 2016 to $17 million in fiscal 2025, down 9.6% a year; it rose in 4 of 9 years; the deepest fall was 94% from fiscal 2016 to fiscal 2017; net income was positive in 0 of 10 of those years (its annual reports).

What it rests on

revenue growth over the filed span-9.6%bottom 18% of its family
the share of years revenue rosebottom 31% of its family
the share of filed years with a profitbottom 31% of its family
the deepest fall from a revenue peak94.3%bottom 31% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

4.6/10

How has it treated the people who own it?

SI estimate 4.6/10, confidence 35 of 100 (one part).

weight 33% of this tense · 46th percentile among 146 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 46% of 146 in its family; 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.
What the record cannot read: 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.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 146 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Mesoblast Limited's shareholder treatment is put at 4.6 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 46% of 146 in its family; 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. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.1/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

5.2/10

Is it financially healthy right now?

ROE -17%: lost 17¢ per shareholder dollar. Leverage 24%: owes 24¢ per asset dollar.

weight 45% of this tense · 52nd percentile among 147 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-06-30, Mesoblast Limited lost about 17 cents for every dollar of shareholders' money, and gross profitability: its products earned about 2 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 24 cents per dollar of assets, and net share issuance: its share count grew 22.4% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 31% of its family
return on equitytop 21% of its family
gross profit against assetsbottom 18% of its family
the share count against the year beforebottom 41% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.0/10

How strong is its position in its industry?

bottom 50% of 102 in its family; net margin -593.9%.

weight 22% of this tense · 50th percentile among 102 sector filers · read for its customers

From the record

Mesoblast Limited's standing among 102 graded names in its industry family: revenue of $17 million in fiscal 2025 ranks in the bottom 45% by size; a net margin of -593.9% ranks in the bottom 41%; revenue growth of 19% a year over the last 3 filed years ranks in the top 35% (its annual reports).

What it rests on

revenue against the family$17.2Mbottom 45% of its family
net margin-593.9%bottom 41% of its family
three-year revenue growth19.0%top 35% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

5.0/10

What are the people in charge doing?

SI estimate 5.0/10, confidence 20 of 100 (family median).

weight 33% of this tense · 50th percentile among 130 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 130 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge.
How it was reasoned: family median, 130 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Mesoblast Limited's leadership is put at 5.0 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; the record of its people begins on 2026-03-16 (a listing, a merger or a first filing under the rules) and its chief executive and most of the people in charge have filed since then, so the record shows a floor of 8 months and cannot see past it; a floor under five years is not read as years in charge, so the desk assumes the typical reading of its industry family, the median of 130 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

6.4/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

4.0/10

How much room does it have to grow?

bottom 41% of 92 in its family for room to expand.

weight 33% of this tense · 41st percentile among 92 sector filers · read for itself

From the record

Mesoblast Limited's room to grow, from the newest filed statements (fiscal 2025): cash of $162 million against debt of $122 million leaves 5.1% of its assets as net cash, bottom 12% of its family; cash from operations less capital spending is -294.4% of revenue (bottom 44%); a gross margin of 70.2% (top 48%); research spending of 202.4% of revenue (top 46%) (its annual report).

What it rests on

cash less debt against assets5.1%bottom 12% of its family
cash from operations less capital spending against revenue-294.4%bottom 44% of its family
gross margin70.2%top 48% of its family
research spending against revenue202.4%top 46% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

8.1/10

What could actually drive growth from here?

top 19% of 100 in its family for growth drivers.

weight 45% of this tense · 81st percentile among 100 sector filers · read for its customers

From the record

Mesoblast Limited's growth drivers, from the filed years to fiscal 2025: revenue grew 19% a year over the last three filed years against -9.6% over all 10, speeding up (top 12% of its family); the newest year grew 191.6% (top 13%); research spending grew 2% a year (top 47%); capital spending grew 60.4% a year (top 6%) (its annual reports). Mesoblast Limited 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

three-year growth against the whole span+28.5 points a yeartop 12% of its family
the newest year's revenue growth191.6%top 13% of its family
three-year growth of research spending2.0%top 47% of its family
three-year growth of capital spending60.4%top 6% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

6.6/10

Did its newest year beat what its own record pointed to?

top 34% of 72 in its family for expectations against reality.

weight 22% of this tense · 66th percentile among 72 sector filers · read for its shareholders

From the record

Mesoblast Limited's newest year against its own record: revenue of $17 million in fiscal 2025 came in 283.2% above the $4 million its prior three years' pace pointed to (top 13% of its family); net income of $102 million against a prior three-year average of $87 million (bottom 32%); a net margin of a loss larger than its revenue against losses larger than its revenue before (top 22%) (its annual reports).

What it rests on

revenue against the prior three years' pace283.2%top 13% of its family
net income against the prior three years' average-17%bottom 32% of its family
net margin against its prior averageup more than 100 pointstop 22% of its family

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

SI Assistanton MESO · research, not advice