Arrowhead Pharmaceuticals vs Harmony Biosciences
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KIRAβs take AI analyst
I put Arrowhead Pharmaceuticals and Harmony Biosciences side by side, using each oneβs latest annual report. Here is what stands out:
- Harmony Biosciences is the larger business, with $869M of revenue in fiscal 2025 against $829M for Arrowhead Pharmaceuticals.
- Arrowhead Pharmaceuticals grew revenue faster (23,258.2%, against 21.5%).
- Harmony Biosciences kept more of each dollar of sales as operating profit (24.0% operating margin, against 11.9%).
- Harmony Biosciences turned more of its sales into free cash flow (40.1% FCF margin, against 18.9%).
Who comes out ahead
Of the 8 measures where higher (or lower) is clearly better, how many each company leads.
Arrowhead Pharmaceuticals
ARWR
2/8
Revenue growth5-year growth
Harmony Biosciences
HRMY
5/8
Operating marginNet marginFCF marginReturn on equityShare count change
Side by side
Best in the row
| Latest fiscal year | ARWR FY25 | HRMY FY25 |
|---|---|---|
| Size | ||
| Market cap | $8.5B | $2.2B |
| Revenue | $829M | $869M |
| Free cash flow | $157M | $348M |
| Net income | β$1.6M | $159M |
| Growth | ||
| Revenue growth | 23,258.2% | 21.5% |
| 5-year growth | 56.6% | 40.3% |
| Share count change | 11.7% | 1.2% |
| Profitability | ||
| Gross margin | β | 77.2% |
| Operating margin | 11.9% | 24.0% |
| Net margin | β0.2% | 18.3% |
| FCF margin | 18.9% | 40.1% |
| Return on capital | β | 48.9% |
| Return on equity | β0.5% | 20.8% |
| Balance sheet | ||
| Net debt | β$665M | β$612M |
| Net debt / EBITDA | β5.5x | β |
| Dividends and buybacks | $0.0M | $0.0M |
| Valuation & quality | ||
| P/E | β | 11.9x |
| Piotroski F-score | 5 | 5 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.