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Alkermes

ALKS Nasdaq Pharmaceuticals Financials FY2016–FY2025

Alkermes' revenue fell 5.2% to $1.5 billion in fiscal 2025. Its operating margin was 17.2%, down from 27.0% a year earlier. Free cash flow was $480 million, up 18.4%. The diluted share count fell 0.3%.

Last close · Oct 23, 2026

$43.63

1.2%
Value it Compare
Revenue Total sales reported in the income statement.
$1.5B
5.2% vs prior year
Operating margin Operating income as a share of revenue.
17.2%
9.8 pts
Net income Profit after all expenses, interest and tax.
$242M
34.2%
Free cash flow Cash from operations minus capital spending.
$480M
18.4%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap Last close times the latest diluted share count, so it is approximate.
$7.6B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
114.8x
On $0.38 EPS (TTM)

What Alkermes does

No business description yet.

Legal name
Alkermes plc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0001193125-26-068925
0001520262

Revenue and margins

Alkermes had $1.5B of revenue in fiscal 2025, down 5.3% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $480M in fiscal 2025, 32.6% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Alkermes returned $0.0M to shareholders in fiscal 2025, 0% of free cash flow. The diluted share count fell 0.3%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Alkermes yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of — and divides by 168.7M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 114.8x · peers 14.0x · sector 27.9x.

Balance sheet

Cash, debt and the ratios that show how comfortably Alkermes can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $536M$609M$774M$752M$588M
Debt incl. finance leases $296M$293M$291M——
Net debt / EBITDA −1.4x−4.4x−1.0x——
Debt / equity 0.3x0.3x0.2x——
Interest coverage 8.7x−0.5x18.0x18.6x20.7x
Current ratio 2.3x2.3x2.9x3.0x3.6x
Quick ratio 1.9x1.9x2.5x2.7x3.2x
Total assets $2.0B$2.0B$2.1B$2.1B$2.5B
Total liabilities $912M$920M$934M$591M$668M
Shareholders' equity $1.1B$1.0B$1.2B$1.5B$1.8B
Net debt (− = net cash) −$240M−$315M−$483M——

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$5.5M

6 insiders

Of sales under plans

47%

$2.6M

DateInsiderTradeSharesPriceValueFiling
Sep 3, 2026 David Joseph GaffinEVP, CLO, Alkermes, Inc. Sold plan 2,034 $48.01 $0.1M Form 4
Sep 1, 2026 Craig C. HopkinsonEVP R&D, Chief Medical Officer Sold plan 9,000 $46.99 $0.4M Form 4
Aug 17, 2026 Christian Todd NicholsSVP, Chief Commercial Officer Sold plan 7,576 $49.23 $0.4M Form 4
Aug 3, 2026 Craig C. HopkinsonEVP R&D, Chief Medical Officer Sold plan 9,000 $48.58 $0.4M Form 4
Aug 3, 2026 David Joseph GaffinEVP, CLO, Alkermes, Inc. Sold plan 2,034 $48.58 $0.1M Form 4
Aug 3, 2026 nancy lynn MD snydermanDirector Sold 44,472 $50.35 $2.2M Form 4
Jul 6, 2026 David Joseph GaffinEVP, CLO, Alkermes, Inc. Sold plan 2,034 $54.03 $0.1M Form 4
Jul 1, 2026 Craig C. HopkinsonEVP R&D, Chief Medical Officer Sold plan 9,000 $51.51 $0.5M Form 4
Jun 12, 2026 Christopher I WrightDirector Sold plan 2,000 $45.10 $0.1M Form 4
Jun 4, 2026 David Joseph GaffinEVP, CLO, Alkermes, Inc. Sold plan 2,034 $43.05 $0.1M Form 4
Jun 1, 2026 Craig C. HopkinsonEVP R&D, Chief Medical Officer Sold plan 9,000 $41.67 $0.4M Form 4
May 29, 2026 Samuel Joseph ParisiVP, Finance (Interim PAO) Sold 16,217 $42.36 $0.7M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✕ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ — —
Current ratio rose ✓ ✓ ✓
Share count didn't rise ✕ ✓ ✓
Gross margin rose ✓ ✕ ✓
Revenue rose relative to assets ✓ ✕ ✕
F-score 8 / 9— / 9— / 9
Accruals ratio −2.2%−3.4%−12.3%
Altman Z'' 3.575.466.24

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Alkermes ALKS $7.6B −5.3% 17.2% 32.6% — 114.8x —
Indivior INDV $4.3B 4.3% 21.2% −7.5% — 12.4x 4 Compare →
Acadia Pharmaceuticals ACAD $3.4B 11.9% 9.8% 9.8% — 8.9x — Compare →
ANI Pharmaceuticals ANIP $1.6B 43.8% 12.6% 19.4% 15.9% 15.7x 6 Compare →
Collegium Pharmaceutical COLL $746M 23.6% 23.0% 42.0% 53.4% 18.5x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $746M $903M $1.1B $1.2B $1.0B $1.2B $1.1B $1.7B $1.6B $1.5B
Gross profit $614M $749M $918M $991M $860M $976M $894M $1.4B $1.3B $1.3B
Research and development $387M $413M $425M $513M $395M $291M $273M $271M $245M $324M
Operating income −$209M −$148M −$99.1M −$176M −$112M $97.7M −$6.1M $414M $421M $254M
Interest expense $14.9M $12.0M $15.4M $13.6M $8.7M $11.2M $13.0M $23.0M $22.6M $12.3M
Pretax income −$214M −$143M −$127M −$197M −$96.5M $87.7M −$31.1M $422M $444M $291M
Income tax −$5.9M $14.7M $12.3M −$0.4M $14.3M $11.3M $2.0M −$97.6M $71.6M $49.8M
Net income −$208M −$158M −$139M −$197M −$111M −$48.2M −$158M $356M $367M $242M
Diluted EPS −$1.38 −$1.03 −$0.90 −$1.25 −$0.70 −$0.29 −$0.97 $2.10 $2.17 $1.43
Diluted shares 0.15B 0.15B 0.16B 0.16B 0.16B 0.16B 0.16B 0.17B 0.17B 0.17B
Cash flow
Cash from operations −$63.8M $19.2M $99.3M $72.1M $82.8M $102M $21.0M $401M $439M $521M
Capital expenditure $43.7M $51.3M $69.4M $90.9M $42.2M $28.0M $38.3M $48.0M $33.5M $40.4M
Free cash flow −$107M −$32.1M $29.9M −$18.9M $40.6M $73.7M −$17.2M $353M $406M $480M
Depreciation and amortization $94.3M $98.5M $104M $80.4M $81.9M $78.7M $77.9M $74.9M $28.5M $27.2M
Stock-based compensation $94.4M $83.9M $105M $101M $90.2M $87.6M $94.3M $101M $96.6M $98.7M
Acquisitions $0.0M $0.0M $0.0M $8.9M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $200M $0.0M
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $200M $0.0M
Balance sheet
Cash and short-term investments $497M $434M $539M $535M $635M $536M $609M $774M $752M $588M
Total debt $284M $281M $279M $277M $275M $296M $293M $291M — —
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $791M $809M $983M $962M $1.1B $1.1B $1.1B $1.5B $1.4B $1.9B
Current liabilities $212M $291M $340M $391M $438M $471M $498M $520M $465M $543M
Inventory $63.0M $93.3M $90.2M $102M $126M $150M $181M $186M $183M $197M
Property and equipment, net $265M $285M $310M $362M $350M $341M $223M $227M $228M $222M
Total assets $1.7B $1.8B $1.8B $1.8B $1.9B $2.0B $2.0B $2.1B $2.1B $2.5B
Total liabilities $517M $594M $654M $720M $883M $912M $920M $934M $591M $668M
Shareholders' equity $1.2B $1.2B $1.2B $1.1B $1.1B $1.1B $1.0B $1.2B $1.5B $1.8B
Margins
Gross margin 82.3% 82.9% 83.9% 84.6% 82.8% 83.2% 80.4% 84.8% 84.3% 86.7%
Operating margin −28.0% −16.4% −9.1% −15.0% −10.8% 8.3% −0.6% 24.9% 27.0% 17.2%
EBITDA margin −15.3% −5.5% 0.4% −8.1% −2.9% 15.0% 6.5% 29.4% 28.8% 19.1%
Net margin −28.0% −17.5% −12.7% −16.8% −10.7% −4.1% −14.2% 21.4% 23.6% 16.4%
FCF margin −14.4% −3.6% 2.7% −1.6% 3.9% 6.3% −1.6% 21.2% 26.0% 32.6%
Returns
Return on capital −15.5% −11.4% −8.0% −15.9% −11.6% 10.8% −0.6% 57.2% — —
Return on capital employed −13.3% −9.8% −6.6% −12.1% −7.7% 6.4% −0.4% 26.9% 26.2% 14.4%
Return on equity −16.5% −13.1% −11.7% −17.4% −10.3% −4.4% −14.7% 31.7% 27.5% 14.7%
Return on assets −11.6% −9.0% −7.7% −10.8% −5.9% −2.4% −7.9% 17.4% 17.5% 10.6%
Growth
Revenue growth 18.7% 21.2% 21.1% 7.0% −11.3% 13.0% −5.3% 49.6% −6.4% −5.3%
Net income growth — — — — — — — — 3.2% −34.2%
EPS growth — — — — — — — — 3.3% −34.1%
FCF growth — — — −163.2% — 81.4% −123.4% — 14.8% 18.4%
Share count change 1.5% 1.3% 1.1% 1.3% 1.1% 3.8% −0.6% 3.7% −0.3% −0.3%
Financial health
Net debt / EBITDA — — −57.4x — — −1.4x −4.4x −1.0x — —
Debt / equity 0.2x 0.2x 0.2x 0.3x 0.3x 0.3x 0.3x 0.2x — —
Interest coverage −14.0x −12.3x −6.4x −12.9x −13.0x 8.7x −0.5x 18.0x 18.6x 20.7x
Current ratio 3.7x 2.8x 2.9x 2.5x 2.5x 2.3x 2.3x 2.9x 3.0x 3.6x
Quick ratio 3.4x 2.5x 2.6x 2.2x 2.3x 1.9x 1.9x 2.5x 2.7x 3.2x
Capital allocation
Capex / revenue 5.9% 5.7% 6.3% 7.8% 4.1% 2.4% 3.4% 2.9% 2.2% 2.7%
Stock comp / revenue 12.7% 9.3% 9.6% 8.6% 8.7% 7.5% 8.5% 6.1% 6.2% 6.7%
Payouts / FCF — — 0.0% — 0.0% 0.0% — 0.0% 49.4% 0.0%
Quality scores
Piotroski F-score 6.0 5.0 7.0 5.0 5.0 5.0 5.0 8.0 — —
Altman Z'' 2.1 1.6 1.7 0.5 0.7 1.0 0.5 3.6 5.5 6.2
Accruals ratio −8.1% −10.1% −13.2% −14.8% −10.3% −7.5% −9.0% −2.2% −3.4% −12.3%

Source: SEC EDGAR XBRL filings (CIK 0001520262). Data updated October 22, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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