Siga Technologies
SIGA on Nasdaq. Siga Technologies sells smallpox antiviral drugs to the U.S. and international governments. Market value $250m.
Price checks use the past 12 months to June 2026. Quality checks use five annual reports, the latest for the year to December 2025.
We can't read total debt from the filing, so debt is left out.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Health care stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $-8.67 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: 60 of 100. Price score: 0 of 100. Our list needs 70 on quality and 60 on price.
$3.29 a share, 16% above its 1-year low
Over the past year the price has ranged from $2.83 to $8.56.
Dividend: 18.2% a year
Paid every year for 4 years
Yields this high often come before a cut. Check the company's latest news.
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
Spare cash swings from quarter to quarter here: a shortfall of $20 million in the past 12 months, $43 million in the year to December 2025.
| Revenue | |||||
| Revenue | $134m | $111m | $140m | $139m | $95m |
| Operating margin | |||||
| Operating margin | 66.7% | 38.5% | 59.8% | 50.4% | 25.1% |
| Debt to equity | |||||
| Debt to equity | n/a | n/a | n/a | n/a | n/a |
| Shares outstanding | |||||
| Shares outstanding | 0.07bn | 0.07bn | 0.07bn | 0.07bn | 0.07bn |
Health checks
- Free cash flow positive5 of 5 years
- Accounting looks honest (Beneish)Not enough data
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)Yes
- DebtUnknown
- Revenue growth, five yearsShrinking, 5.4% a year
- Buying back its own sharesRoughly flat
The quarter to June 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $41 million last quarter, down 49% on a year ago.
- Profit: $12 million, down 65% on a year ago.
- It loses 21 cents on each $1 of sales, after keeping 56 cents a year earlier.
- Over the past 12 months it spent $20 million more cash than it brought in. A year earlier it had $119 million spare.
- About the same number of shares as a year ago.
- Sales did not grow on a year ago in any of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| September 2024 | $10m |
| December 2024 | $81m |
| March 2025 | $7m |
| June 2025 | $81m |
| September 2025 | $3m |
| December 2025 | $4m |
| March 2026 | $6m |
| June 2026 | $41m |
| Quarter to | Amount |
|---|---|
| September 2024 | $1m |
| December 2024 | $46m |
| March 2025 | -$408,223 |
| June 2025 | $35m |
| September 2025 | -$6m |
| December 2025 | -$5m |
| March 2026 | -$3m |
| June 2026 | $12m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 10 March 2026
- Next quarterly (estimated, 10-Q)
- 5 November 2026
Who owns it
3 long-term investors we follow own it, unchanged from 3 last quarter. 161 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Hotchkis & WileyHotchkis & Wiley team | $3m | <0.1% | Added |
| Royce & AssociatesChuck Royce | $2m | <0.1% | Cut |
| LSV Asset ManagementJosef Lakonishok | $2m | <0.1% | Cut |
Largest holders overall
- BlackRock$15mAdded
- Dimensional Fund Advisors LP$10m
- AltraVue Capital$8mCut
- Vanguard Capital Management$6m
- American Century Companies$5mAdded
- Arrowstreet Capital, Limited Partnership$5mCut
- Geode Capital Management$5mAdded
- First Wilshire Securities Management$5mAdded
- AQR Capital Management$5mAdded
- State Street$4mAdded
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
No one has reported a stake above 5% since December 2024.
- BlackRock, Inc.Passive investorSold down below 5%Since 31 March 2025
| Holder | Stake | Since | |
|---|---|---|---|
BlackRock, Inc. Passive investor | Sold down below 5% | 31 March 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought or sold on the open market in the last 12 months.
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
- Sales have shrunk: 5.4% a year.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.