RPRX Nasdaq Pharmaceutical Preparations Financials FY2018βFY2025
Royalty Pharma plc had $2.4B of revenue in fiscal 2025, up 5.1% on the year before. Over five years, revenue changed +2.3% a year on average.
Last close Β· Oct 23, 2026
$63.86
0.2%Hi! I read Royalty Pharma plcβs latest annual report (fiscal 2025). Here is what stands out:
Good So-so Weak
Are sales growing?
+5.1%
Yes. Sales grew 5.1% last year.
Does it make a profit?
32.4%
Yes. It keeps 32.4% of every sale as profit.
Is debt under control?
5.3x
Heavy. Repaying its debt would take 5.3 years of operating profit.
How healthy are the accounts?
5 / 8
Mixed. It passes 5 of 8 health tests.
How is the share priced?
34.1x
One share costs 34.1 times its yearly profit per share.
Rules of thumb on reported numbers. A starting point, not a recommendation.
Is it selling more, and how much does it keep?
KIRA Β· Royalty Pharma plc had $2.4B of revenue in fiscal 2025, up 5.1% on the year before. Over five years, revenue changed +2.3% a year on average. Its operating margin was 65.6%, up 8.5Β pts: of every 100 in sales, about 66 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· Royalty Pharma plc made $771M of net profit 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?
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
Cash from operations vs capital spending
Cash from operations vs capital spending
KIRA Β· Royalty Pharma plc returned $1.2B to shareholders in fiscal 2025. The diluted share count fell 5.0%.
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
Dividends and buybacks
Diluted shares outstanding (annual)
KIRA Β· In the last 12 months, insiders sold $92.8M of shares on the open market and bought none.
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
$92.8M
5 insiders
Of sales under plans
100%
$92.8M
| Date | Insider | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Oct 5, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 4,126 | $57.10 | $0.2M | Form 4 |
| Sep 28, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 4,126 | $57.88 | $0.2M | Form 4 |
| Sep 22, 2026 | Christopher HiteEVP & Chairman, Partnering | Sold plan | 100,000 | $58.53 | $5.9M | Form 4 |
| Aug 18, 2026 | Christopher HiteEVP & Chairman, Partnering | Sold plan | 100,000 | $59.97 | $6.0M | Form 4 |
| Aug 13, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 11,002 | $58.68 | $0.6M | Form 4 |
| Jul 1, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 9,099 | $55.88 | $0.5M | Form 4 |
| Jun 30, 2026 | Christopher HiteEVP & Chairman, Partnering | Sold plan | 130,000 | $56.50 | $7.3M | Form 4 |
| Jun 24, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 9,098 | $55.18 | $0.5M | Form 4 |
| Jun 23, 2026 | Christopher HiteEVP & Chairman, Partnering | Sold plan | 150,000 | $54.39 | $8.2M | Form 4 |
| May 26, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 64,399 | $53.98 | $3.5M | Form 4 |
| May 20, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 13,684 | $52.75 | $0.7M | Form 4 |
| May 14, 2026 | Gregory NordenDirector | Sold plan | 3,045 | $53.00 | $0.2M | Form 4 |
| May 14, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 13,684 | $53.06 | $0.7M | Form 4 |
| Apr 28, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 34,791 | $49.78 | $1.7M | Form 4 |
| Apr 1, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 34,791 | $48.33 | $1.7M | Form 4 |
| Mar 23, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 34,791 | $45.53 | $1.6M | Form 4 |
| Mar 2, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 34,791 | $46.78 | $1.6M | Form 4 |
| Feb 23, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 34,791 | $45.32 | $1.6M | Form 4 |
| Feb 4, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 20,163 | $43.29 | $0.9M | Form 4 |
| Feb 3, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 114,954 | $42.84 | $4.9M | Form 4 |
| Feb 2, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 108,424 | $42.08 | $4.6M | Form 4 |
| Jan 30, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $41.09 | $0.8M | Form 4 |
| Jan 23, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $40.26 | $0.8M | Form 4 |
| Jan 20, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 69,582 | $39.35 | $2.7M | Form 4 |
| Jan 16, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $39.52 | $0.8M | Form 4 |
| Jan 9, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $40.78 | $0.8M | Form 4 |
| Jan 2, 2026 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $38.48 | $0.8M | Form 4 |
| Jan 2, 2026 | Terrance P. CoyneEVP & CFO | Sold plan | 69,582 | $38.42 | $2.7M | Form 4 |
| Dec 26, 2025 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $39.32 | $0.8M | Form 4 |
| Dec 19, 2025 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $38.38 | $0.8M | Form 4 |
| Dec 18, 2025 | George W. LloydEVP, Investments & CLO | Sold plan | 30,654 | $38.50 | $1.2M | Form 4 |
| Dec 17, 2025 | George W. LloydEVP, Investments & CLO | Sold plan | 79,346 | $38.57 | $3.1M | Form 4 |
| Dec 16, 2025 | Marshall UristEVP, Research & Investments | Sold plan | 20,000 | $38.32 | $0.8M | Form 4 |
| Dec 15, 2025 | Terrance P. CoyneEVP & CFO | Sold plan | 69,582 | $38.36 | $2.7M | Form 4 |
| Dec 5, 2025 | Marshall UristEVP, Research & Investments | Sold plan | 41,576 | $39.15 | $1.6M | Form 4 |
| Dec 3, 2025 | George W. LloydEVP, Investments & CLO | Sold plan | 110,000 | $39.77 | $4.4M | Form 4 |
| Dec 1, 2025 | Terrance P. CoyneEVP & CFO | Sold plan | 69,582 | $39.87 | $2.8M | Form 4 |
| Dec 1, 2025 | Marshall UristEVP, Research & Investments | Sold plan | 41,575 | $39.92 | $1.7M | Form 4 |
| Nov 24, 2025 | Terrance P. CoyneEVP & CFO | Sold plan | 69,582 | $38.55 | $2.7M | Form 4 |
| Nov 19, 2025 | George W. LloydEVP, Investments & CLO | Sold plan | 135,426 | $38.34 | $5.2M | Form 4 |
| Nov 17, 2025 | Terrance P. CoyneEVP & CFO | Sold plan | 69,594 | $39.30 | $2.7M | Form 4 |
Can it carry its debts, and how well does it use its money?
KIRA Β· Royalty Pharma plc owes $8.3B more than it holds in cash, about 5.3 years of operating profit.
Cash, debt and the ratios that show how comfortably Royalty Pharma plc 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 | $1.6B | $1.7B | $495M | $987M | $637M |
| Debt incl. finance leases | $7.1B | $7.1B | $6.1B | $7.6B | $9.0B |
| Net debt / EBITDA | β | β | 3.8x | 5.1x | 5.3x |
| Debt / equity | 0.7x | 0.7x | 0.6x | 0.7x | 0.9x |
| Interest coverage | 8.6x | 1.6x | 8.0x | 5.7x | 5.1x |
| Current ratio | 16.8x | 2.2x | 7.9x | 1.4x | 2.4x |
| Quick ratio | 16.8x | 2.2x | 7.9x | 1.4x | 2.4x |
| Total assets | $17.5B | $16.8B | $16.4B | $18.2B | $19.6B |
| Total liabilities | $7.3B | $7.3B | $6.3B | $7.9B | $9.9B |
| Shareholders' equity | $10.2B | $9.5B | $10.1B | $10.3B | $9.7B |
| Net debt (β = net cash) | $5.5B | $5.4B | $5.6B | $6.6B | $8.3B |
KIRA Β· Its return on capital was 8.7%: every 100 invested in the business earned about 9 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· Royalty Pharma plc passes 5 of 8 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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Net income is positive | β | β | β | β | β | β | β | β |
| Cash from operations is positive | β | β | β | β | β | β | β | β |
| Return on assets rose | β | β | β | β | β | β | β | β |
| Cash from operations exceeds net income | β | β | β | β | β | β | β | β |
| Debt fell relative to assets | β | β | β | β | β | β | β | β |
| Current ratio rose | β | β | β | β | β | β | β | β |
| Share count didn't rise | β | β | β | β | β | β | β | β |
| Gross margin rose | β | β | β | β | β | β | β | β |
| Revenue rose relative to assets | β | β | β | β | β | β | β | β |
| F-score | β / 3 | β / 3 | 5 / 7 | 4 / 8 | 4 / 8 | 7 / 8 | 4 / 8 | 5 / 8 |
| Accruals ratio | β | 5.5% | β7.4% | β8.3% | β12.2% | β11.2% | β11.0% | β9.1% |
| Altman Z'' | β | 3.44 | 3.73 | 3.46 | 2.42 | 3.24 | 2.56 | 2.25 |
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 | FY18 | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|---|
| Income statement | ||||||||
| Revenue | $1.8B | $1.8B | $2.1B | $2.3B | $2.2B | $2.4B | $2.3B | $2.4B |
| Provision for credit losses | β$57.3M | β$1.0B | $231M | $453M | β | β | β | β |
| Research and development | $393M | $83.0M | $26.3M | $200M | $177M | $52.0M | $2.0M | $452M |
| Operating income | $1.4B | $2.6B | $1.6B | $1.4B | $307M | $1.5B | $1.3B | $1.6B |
| Interest expense | $280M | $269M | $157M | $166M | $188M | $187M | $226M | $308M |
| Pretax income | $1.5B | $2.5B | $1.7B | $1.2B | $230M | $1.7B | $1.3B | $1.3B |
| Income tax | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Net income | $1.4B | $2.3B | $975M | $620M | $42.8M | $1.1B | $859M | $771M |
| Net income to common | β | β | $495M | $620M | $42.8M | $1.1B | $859M | $771M |
| Diluted EPS | β | β | $1.32 | $1.49 | $0.10 | $2.53 | $1.91 | $1.78 |
| Diluted shares | β | β | 0.38B | 0.41B | 0.44B | 0.60B | 0.59B | 0.56B |
| Cash flow | ||||||||
| Cash from operations | $1.6B | $1.7B | $2.0B | $2.0B | $2.1B | $3.0B | $2.8B | $2.5B |
| Depreciation and amortization | β | β | β | β | β | $0.0M | $0.0M | $3.9M |
| Stock-based compensation | $0.0M | $0.0M | $5.4M | $2.4M | $2.2M | $2.4M | $2.3M | $290M |
| Acquisitions | β | β | β | β | β | $0.0M | $0.0M | $74.4M |
| Share buybacks | $0.0M | $4.3M | $0.0M | $0.0M | $0.0M | $305M | $230M | $1.2B |
| Dividends and buybacks | $0.0M | $4.3M | $0.0M | $0.0M | $0.0M | $305M | $230M | $1.2B |
| Balance sheet | ||||||||
| Cash and short-term investments | $1.9B | $246M | $1.1B | $1.6B | $1.7B | $495M | $987M | $637M |
| Total debt | β | $6.2B | $5.8B | $7.1B | $7.1B | $6.1B | $7.6B | $9.0B |
| Current assets | β | $832M | $2.7B | $2.9B | $2.6B | $1.3B | $1.8B | $1.5B |
| Current liabilities | β | $333M | $308M | $171M | $1.2B | $161M | $1.3B | $636M |
| Goodwill | β | β | β | β | β | β | $0.0M | $925M |
| Intangible assets | β | $51.7M | $28.7M | $5.7M | $0.0M | β | β | β |
| Total assets | β | $12.4B | $16.0B | $17.5B | $16.8B | $16.4B | $18.2B | $19.6B |
| Total liabilities | β | $6.3B | $6.1B | $7.3B | $7.3B | $6.3B | $7.9B | $9.9B |
| Shareholders' equity | $4.6B | $6.1B | $9.9B | $10.2B | $9.5B | $10.1B | $10.3B | $9.7B |
| Margins | ||||||||
| Operating margin | 76.0% | 144.6% | 75.2% | 62.5% | 13.7% | 63.4% | 57.1% | 65.6% |
| EBITDA margin | β | β | β | β | β | 63.4% | 57.1% | 65.7% |
| Net margin | 76.8% | 129.4% | 45.9% | 27.1% | 1.9% | 48.2% | 37.9% | 32.4% |
| Returns | ||||||||
| Return on capital | β | 21.6% | 10.9% | 9.1% | 2.1% | 9.5% | 7.6% | 8.7% |
| Return on capital employed | β | 21.6% | 10.2% | 8.2% | 2.0% | 9.2% | 7.6% | 8.2% |
| Return on equity | 30.3% | 43.9% | 12.2% | 6.2% | 0.4% | 11.6% | 8.4% | 7.7% |
| Return on assets | β | 18.9% | 6.8% | 3.7% | 0.2% | 6.8% | 5.0% | 4.1% |
| Return on tangible equity | 30.3% | 38.6% | 5.0% | 6.1% | 0.4% | 11.3% | 8.3% | 8.8% |
| Growth | ||||||||
| Revenue growth | β | 1.1% | 17.0% | 7.9% | β2.3% | 5.2% | β3.9% | 5.1% |
| Net income growth | β | 70.5% | β58.5% | β36.4% | β93.1% | 2,549.5% | β24.3% | β10.2% |
| EPS growth | β | β | β | 12.9% | β93.3% | 2,430.0% | β24.5% | β6.8% |
| Share count change | β | β | β | 10.5% | 5.6% | 37.7% | β1.5% | β5.0% |
| Financial health | ||||||||
| Net debt / EBITDA | β | β | β | β | β | 3.8x | 5.1x | 5.3x |
| Debt / equity | β | 1.0x | 0.6x | 0.7x | 0.7x | 0.6x | 0.7x | 0.9x |
| Interest coverage | 4.9x | 9.8x | 10.2x | 8.6x | 1.6x | 8.0x | 5.7x | 5.1x |
| Current ratio | β | 2.5x | 8.8x | 16.8x | 2.2x | 7.9x | 1.4x | 2.4x |
| Quick ratio | β | 2.5x | 8.8x | 16.8x | 2.2x | 7.9x | 1.4x | 2.4x |
| Capital allocation | ||||||||
| Stock comp / revenue | 0.0% | 0.0% | 0.3% | 0.1% | 0.1% | 0.1% | 0.1% | 12.2% |
| Quality scores | ||||||||
| Piotroski F-score | β | β | 5.0 | 4.0 | 4.0 | 7.0 | 4.0 | 5.0 |
| Altman Z'' | β | 3.4 | 3.7 | 3.5 | 2.4 | 3.2 | 2.6 | 2.3 |
| Accruals ratio | β | 5.5% | β7.4% | β8.3% | β12.2% | β11.2% | β11.0% | β9.1% |
Source: SEC EDGAR XBRL filings (CIK 0001802768). 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.
