RMTI Nasdaq Pharmaceutical Preparations Financials FY2016βFY2025
Rockwell Medical, Inc. had $69.3M of revenue in fiscal 2025, down 31.8% on the year before. Over five years, revenue changed +2.2% a year on average.
Last close Β· Oct 23, 2026
$6.94
1.7%Hi! I read Rockwell Medical, Inc.βs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
β31.8%
No. Sales fell 31.8% last year.
Does it make a profit?
β7.7%
No. It lost money last year.
Does profit turn into cash?
β1.7%
No. It spent more cash than it brought in.
How healthy are the accounts?
2 / 9
Weak. It passes 2 of 9 health tests.
How is the share priced?
β
No P/E: it made no profit over the last four quarters.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
In plain words: Every quarter, companies publish how much they sold and earned. These are the days Rockwell Medical, Inc. did it, and the next one. Share prices often move a lot on those days.
Next results
November 12, 2026
Thursday Β· in 17 days
| Date | Results for | Time | Source |
|---|---|---|---|
| Aug 13, 2026 | Q2 '26 | Before the market opens | 8-K β |
| May 7, 2026 | Q1 '26 | Before the market opens | 8-K β |
| Jan 20, 2026 | Q4 '25 | Before the market opens | 8-K β |
| Nov 12, 2025 | Q3 '25 | Before the market opens | 8-K β |
| Aug 14, 2025 | Q2 '25 | Before the market opens | 8-K β |
| May 12, 2025 | Q1 '25 | Before the market opens | 8-K β |
| Mar 20, 2025 | Q4 '24 | Before the market opens | 8-K β |
| Nov 12, 2024 | Q3 '24 | Before the market opens | 8-K β |
From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.
KIRA Β· Rockwell Medical, Inc. had $69.3M of revenue in fiscal 2025, down 31.8% on the year before. Over five years, revenue changed +2.2% a year on average. Its operating margin was β6.8%, down 7.4Β pts: of every 100 in sales, about β7 is left after running the business.
In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).
Revenue
Revenue
Margins, % of revenue
Margins, % of revenue
KIRA Β· Rockwell Medical, Inc. lost $5.3M in fiscal 2025.
Loss periods are shown in red.
In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.
Net income
Net income
Diluted EPS
Diluted EPS
How much cash comes in, and where does it go?
KIRA Β· Free cash flow was β$1.2M in fiscal 2025, β1.7% of revenue.
Cash from operations minus capital spending.
In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.
Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations vs capital spending
In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· No open-market insider trades in the last 12 months.
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. βPlanβ marks trades under a pre-arranged Rule 10b5-1 plan.
In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
β
$0.0M
No open-market insider trades in the last 12 months.
Can it carry its debts, and how well does it use its money?
KIRA Β· Rockwell Medical, Inc. has $15.4M more cash than debt.
Cash, debt and the ratios that show how comfortably Rockwell Medical, Inc. can carry it.
In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.
Cash vs debt (incl. leases)
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $22.4M | $21.5M | $10.9M | $21.6M | $25.0M |
| Debt incl. finance leases | $23.7M | $11.8M | $10.4M | $10.0M | $9.6M |
| Net debt / EBITDA | β | β | β | β4.2x | β |
| Debt / equity | 8.1x | 0.7x | 0.4x | 0.3x | 0.2x |
| Interest coverage | β12.9x | β8.7x | β2.9x | 0.5x | β4.2x |
| Current ratio | 1.7x | 2.0x | 1.7x | 2.6x | 4.0x |
| Quick ratio | 1.5x | 1.7x | 1.4x | 2.2x | 3.6x |
| Total assets | $48.6M | $46.6M | $52.2M | $59.2M | $57.1M |
| Total liabilities | $46.0M | $32.5M | $30.9M | $26.6M | $20.2M |
| Shareholders' equity | $2.5M | $14.1M | $21.3M | $32.6M | $37.0M |
| Net debt (β = net cash) | $1.2M | β$9.7M | β$0.6M | β$11.6M | β$15.4M |
KIRA Β· Its return on capital was β17.8%: every 100 invested in the business earned about β18 in a year.
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.
Return on capital, equity and assets (annual)
KIRA Β· Rockwell Medical, Inc. passes 2 of 9 financial health tests (Piotroski F-score).
Nine pass/fail tests of profitability, funding and efficiency. 8β9 is strong, 0β2 weak.
In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.
| Test | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β | β | β |
| F-score | β / 3 | 2 / 8 | 2 / 8 | 3 / 8 | 3 / 9 | 2 / 9 | 6 / 9 | 4 / 9 | 7 / 9 | 2 / 9 |
| Accruals ratio | β8.8% | β6.8% | β21.0% | β14.2% | β2.0% | 1.4% | β3.7% | 2.0% | β8.4% | β8.0% |
| Altman Z'' | β2.80 | β10.52 | β15.71 | β23.27 | β11.00 | β27.04 | β26.66 | β23.43 | β18.00 | β18.33 |
Every number, year by year.
Amounts in USD. Hover a ratioβs name for its definition.
In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.
| Fiscal year | FY16 | FY17 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||||
| Revenue | $53.3M | $57.3M | $63.4M | $61.3M | $62.2M | $61.9M | $72.8M | $83.6M | $101M | $69.3M |
| Net interest income | β | $0.8M | $0.5M | $0.4M | β | β | β | β | β | β |
| Gross profit | $6.8M | $3.7M | β$1.6M | $2.8M | $2.7M | β$2.4M | $4.1M | $8.7M | $17.5M | $11.7M |
| Research and development | $5.8M | $6.3M | $5.6M | $6.9M | $7.1M | $6.8M | $3.1M | $1.1M | $0.0M | $0.0M |
| Operating income | β$20.2M | β$25.9M | β$32.4M | β$34.5M | β$28.4M | β$30.3M | β$16.8M | β$6.7M | $0.6M | β$4.7M |
| Interest expense | β | β | β | $0.0M | $1.9M | $2.4M | $1.9M | $2.3M | $1.3M | $1.1M |
| Pretax income | β$19.4M | β$25.9M | β | β | β | β | β | β$8.4M | β$0.5M | β$5.3M |
| Income tax | $0.4M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | β$19.8M | β$25.9M | β$32.1M | β$34.1M | β$30.9M | β$32.7M | β$18.7M | β$8.4M | β$0.5M | β$5.3M |
| Net income to common | β | β | β | β | β | β | β$18.7M | β$8.6M | β$0.8M | β$5.5M |
| Diluted EPS | β$0.39 | β$0.51 | β$0.61 | β$0.56 | β$0.41 | β$3.83 | β$1.31 | β$0.37 | β$0.03 | β$0.15 |
| Diluted shares | 0.05B | 0.05B | 0.05B | 0.06B | 0.08B | 0.01B | 0.01B | 0.02B | 0.03B | 0.04B |
| Cash flow | ||||||||||
| Cash from operations | β$12.5M | β$21.1M | β$20.4M | β$27.3M | β$29.6M | β$33.5M | β$16.9M | β$9.4M | $4.2M | β$0.7M |
| Capital expenditure | β | β | β | β | β | β | β | $0.3M | $1.0M | $0.5M |
| Free cash flow | β | β | β | β | β | β | β | β$9.7M | $3.2M | β$1.2M |
| Depreciation and amortization | $0.8M | $0.5M | $0.7M | $0.8M | $0.8M | $0.7M | $0.6M | $1.4M | $2.2M | $2.2M |
| Stock-based compensation | $10.3M | $7.2M | $4.4M | $5.0M | $0.5M | $0.9M | $0.3M | $0.9M | $1.3M | $1.8M |
| Balance sheet | ||||||||||
| Cash and short-term investments | $17.2M | $8.4M | $33.5M | $26.0M | $58.7M | $22.4M | $21.5M | $10.9M | $21.6M | $25.0M |
| Total debt | β | β | β | $0.0M | $20.9M | $20.6M | $9.2M | $8.3M | $8.5M | $8.8M |
| Finance lease liabilities | β | β | β | β | $0.9M | $3.1M | $2.6M | $2.1M | $1.5M | $0.8M |
| Current assets | $78.5M | $48.8M | $46.8M | $36.9M | $69.5M | $35.3M | $35.3M | $28.8M | $37.0M | $38.2M |
| Current liabilities | $10.1M | $9.1M | $13.2M | $12.4M | $12.8M | $21.0M | $17.7M | $16.6M | $14.1M | $9.6M |
| Inventory | $12.1M | $7.6M | $4.0M | $3.6M | $3.9M | $4.1M | $5.8M | $5.9M | $5.8M | $3.4M |
| Property and equipment, net | $1.4M | $2.5M | $2.6M | $2.4M | $2.6M | $2.5M | $2.2M | $6.4M | $5.8M | $4.6M |
| Goodwill | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M | $0.9M |
| Intangible assets | $0.0M | $0.0M | β | β | β | β | $0.0M | $10.8M | $10.2M | $9.7M |
| Total assets | $83.2M | $58.8M | $52.6M | $44.3M | $77.7M | $48.6M | $46.6M | $52.2M | $59.2M | $57.1M |
| Total liabilities | $30.2M | $25.9M | $25.3M | $24.0M | $43.6M | $46.0M | $32.5M | $30.9M | $26.6M | $20.2M |
| Shareholders' equity | $53.0M | $32.9M | $27.3M | $20.3M | $34.2M | $2.5M | $14.1M | $21.3M | $32.6M | $37.0M |
| Margins | ||||||||||
| Gross margin | 12.7% | 6.5% | β2.5% | 4.6% | 4.4% | β3.9% | 5.6% | 10.4% | 17.2% | 16.9% |
| Operating margin | β37.9% | β45.2% | β51.2% | β56.3% | β45.7% | β49.0% | β23.0% | β8.0% | 0.6% | β6.8% |
| EBITDA margin | β36.5% | β44.3% | β50.1% | β55.0% | β44.4% | β47.9% | β22.3% | β6.3% | 2.7% | β3.6% |
| Net margin | β37.2% | β45.2% | β50.7% | β55.7% | β49.7% | β52.8% | β25.7% | β10.1% | β0.5% | β7.7% |
| FCF margin | β | β | β | β | β | β | β | β11.6% | 3.1% | β1.7% |
| Net interest share of revenue | β | 1.4% | 0.8% | 0.6% | β | β | β | β | β | β |
| Returns | ||||||||||
| Return on capital | β | β | β | β | β | β3,609.3% | β736.5% | β28.3% | 2.5% | β17.8% |
| Return on capital employed | β27.7% | β52.2% | β82.4% | β108.1% | β43.8% | β109.9% | β58.0% | β18.8% | 1.3% | β9.9% |
| Return on equity | β37.4% | β60.4% | β106.7% | β143.4% | β113.4% | β178.0% | β224.5% | β47.7% | β1.8% | β15.3% |
| Return on assets | β23.8% | β36.5% | β57.7% | β70.5% | β50.6% | β51.7% | β39.2% | β17.1% | β0.9% | β9.1% |
| Return on tangible equity | β38.1% | β81.0% | β121.9% | β175.9% | β92.9% | β2,024.4% | β141.7% | β89.4% | β3.6% | β20.7% |
| Growth | ||||||||||
| Revenue growth | β | 7.5% | 10.6% | β3.3% | 1.5% | β0.4% | 17.6% | 14.8% | 21.4% | β31.8% |
| FCF growth | β | β | β | β | β | β | β | β | β | β137.6% |
| Share count change | β | 0.8% | 3.4% | 15.3% | 24.1% | β88.7% | 67.8% | 63.0% | 33.2% | 15.8% |
| Financial health | ||||||||||
| Net debt / EBITDA | β | β | β | β | β | β | β | β | β4.2x | β |
| Debt / equity | β | β | β | 0.0x | 0.6x | 8.1x | 0.7x | 0.4x | 0.3x | 0.2x |
| Interest coverage | β | β | β | β1,381.0x | β15.1x | β12.9x | β8.7x | β2.9x | 0.5x | β4.2x |
| Current ratio | 7.7x | 5.3x | 3.5x | 3.0x | 5.4x | 1.7x | 2.0x | 1.7x | 2.6x | 4.0x |
| Quick ratio | 6.5x | 4.5x | 3.2x | 2.7x | 5.1x | 1.5x | 1.7x | 1.4x | 2.2x | 3.6x |
| Capital allocation | ||||||||||
| Capex / revenue | β | β | β | β | β | β | β | 0.3% | 1.0% | 0.8% |
| Stock comp / revenue | 19.4% | 12.5% | 6.9% | 8.1% | 0.8% | 1.5% | 0.4% | 1.1% | 1.3% | 2.6% |
| Quality scores | ||||||||||
| Piotroski F-score | β | 2.0 | 2.0 | 3.0 | 3.0 | 2.0 | 6.0 | 4.0 | 7.0 | 2.0 |
| Altman Z'' | β2.8 | β10.5 | β15.7 | β23.3 | β11.0 | β27.0 | β26.7 | β23.4 | β18.0 | β18.3 |
| Accruals ratio | β8.8% | β6.8% | β21.0% | β14.2% | β2.0% | 1.4% | β3.7% | 2.0% | β8.4% | β8.0% |
Source: SEC EDGAR XBRL filings (CIK 0001041024). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β not investment advice. Check the original filings before relying on any figure.
