HRMY · Harmony Biosciences Holdings, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $868.45M | $714.73M | $582.02M | $437.86M | $305.44M | $159.74M |
| Cost of Revenue | $198.34M | $156.81M | $121.24M | $83.48M | $55.52M | $27.74M |
| Gross Profit | $670.11M | $557.92M | $460.79M | $354.37M | $249.92M | $132.00M |
| R&D | $189.59M | $145.82M | $76.06M | $70.89M | $30.37M | $19.45M |
| SG&A | $152.54M | $110.35M | $95.29M | $84.02M | $63.91M | $39.75M |
| Total Operating Expenses | $461.64M | $367.09M | $268.76M | $234.19M | $162.39M | $115.02M |
| D&A | - | $267.0K | $514.0K | $419.0K | $416.0K | $394.0K |
| Operating Income | $208.47M | $190.83M | $192.03M | $120.19M | $87.53M | $16.99M |
| Interest Expense | $14.65M | $17.50M | $18.80M | $18.80M | $28.61M | - |
| Income Tax | $56.38M | $46.31M | $44.54M | ($76.78M) | $2.83M | - |
| Net Income | $158.69M | $145.49M | $128.85M | $181.47M | $34.60M | ($36.94M) |
| EPS - Basic | $2.76 | $2.56 | $2.17 | $3.07 | $0.60 | ($2.48) |
| EPS - Diluted | $2.71 | $2.51 | $2.13 | $2.97 | $0.58 | ($2.48) |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $752.50M | $453.00M | $311.66M | $243.78M | $234.31M | $228.63M |
| Accounts Receivable | $96.79M | $83.03M | $74.14M | $54.74M | $34.84M | $22.18M |
| Inventory | $5.36M | $7.20M | $5.36M | $4.30M | $4.43M | $3.82M |
| Accounts Payable | $17.69M | $13.74M | $17.73M | $3.79M | $1.00M | $2.56M |
| Current Assets | $907.01M | $579.25M | $451.07M | $400.29M | $284.44M | $262.89M |
| Total Assets | $1.27B | $999.20M | $811.45M | $673.87M | $433.44M | $427.07M |
| Current Liabilities | $252.13M | $175.08M | $163.78M | $78.88M | $53.77M | $134.54M |
| Long-term Debt | $143.66M | $163.02M | $178.57M | $189.65M | $189.98M | $194.25M |
| Total Liabilities | $401.41M | $340.05M | $344.46M | $271.03M | $246.94M | $329.89M |
| Stockholders' Equity | $870.22M | $659.15M | $466.99M | $402.84M | $186.51M | $97.18M |
| Retained Earnings | $160.90M | $2.22M | ($143.28M) | ($272.13M) | ($453.60M) | ($488.19M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $348.20M | $219.82M | $219.39M | $144.47M | $98.56M | ($2.98M) |
| Investing Cash Flow | ($39.65M) | ($67.48M) | ($46.44M) | ($141.83M) | ($100.30M) | ($2.00M) |
| Financing Cash Flow | ($9.05M) | ($11.00M) | ($105.55M) | $6.84M | $7.42M | $209.16M |
| CapEx | $310.0K | $1.15M | $312.0K | $172.0K | $298.0K | $2.0K |
| Free Cash Flow | $347.89M | $218.67M | $219.07M | $144.29M | $98.26M | ($2.99M) |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 77.2% | 78.1% | 79.2% | 80.9% | 81.8% | 82.6% |
| Operating margin | 24.0% | 26.7% | 33.0% | 27.4% | 28.7% | 10.6% |
| EBITDA margin | - | 26.7% | 33.1% | 27.5% | 28.8% | 10.9% |
| Net margin | 18.3% | 20.4% | 22.1% | 41.4% | 11.3% | -23.1% |
| Free cash flow margin | 40.1% | 30.6% | 37.6% | 33.0% | 32.2% | -1.9% |
| FCF / Net income | 2.19 | 1.50 | 1.70 | 0.80 | 2.84 | 0.08 |
| R&D / Revenue | 21.8% | 20.4% | 13.1% | 16.2% | 9.9% | 12.2% |
| SG&A / Revenue | 17.6% | 15.4% | 16.4% | 19.2% | 20.9% | 24.9% |
| Effective tax rate | 26.2% | 24.1% | 25.7% | -73.3% | 7.6% | - |
| Return on assets | 12.5% | 14.6% | 15.9% | 26.9% | 8.0% | -8.7% |
| Return on equity | 18.2% | 22.1% | 27.6% | 45.0% | 18.5% | -38.0% |
| Return on invested capital | 15.2% | 17.6% | 22.1% | 20.3% | 21.5% | - |
| Liquidity | ||||||
| Current ratio | 3.60 | 3.31 | 2.75 | 5.07 | 5.29 | 1.95 |
| Quick ratio | 3.58 | 3.27 | 2.72 | 5.02 | 5.21 | 1.93 |
| Cash ratio | 2.98 | 2.59 | 1.90 | 3.09 | 4.36 | 1.70 |
| Leverage | ||||||
| Debt / Equity | 0.17 | 0.25 | 0.38 | 0.47 | 1.02 | 2.00 |
| Debt / Assets | 0.11 | 0.16 | 0.22 | 0.28 | 0.44 | 0.45 |
| Debt / EBITDA | - | 0.85 | 0.93 | 1.57 | 2.16 | 11.18 |
| Interest coverage | 14.2x | 10.9x | 10.2x | 6.4x | 3.1x | - |
| Equity multiplier | 1.46 | 1.52 | 1.74 | 1.67 | 2.32 | 4.39 |
| Liabilities / Assets | 0.32 | 0.34 | 0.42 | 0.40 | 0.57 | 0.77 |
| Efficiency | ||||||
| Asset turnover | 0.68 | 0.72 | 0.72 | 0.65 | 0.70 | 0.37 |
| Inventory turnover | 37.02 | 21.79 | 22.61 | 19.43 | 12.53 | 7.26 |
| Days sales outstanding | 41d | 42d | 46d | 46d | 42d | 51d |
| Days inventory outstanding | 10d | 17d | 16d | 19d | 29d | 50d |
| Days payable outstanding | 33d | 32d | 53d | 17d | 7d | 34d |
| Cash conversion cycle | 18d | 27d | 9d | 48d | 64d | 67d |
| Valuation | ||||||
| P / E | 13.8x | 13.7x | 15.2x | 18.6x | 73.5x | - |
| P / B | 2.5x | 3.0x | 4.2x | 8.4x | 13.5x | 9.6x |
| P / S | 2.5x | 2.8x | 3.4x | 7.7x | 8.3x | 5.8x |
| EV / EBITDA | - | 8.9x | 9.4x | 27.5x | 28.2x | 51.6x |
| Growth | ||||||
| Revenue growth (YoY) | 21.5% | 22.8% | 32.9% | 43.4% | 91.2% | - |
| Revenue CAGR (3y) | 25.6% | 32.8% | 53.9% | - | - | - |
| Revenue CAGR (5y) | 40.3% | - | - | - | - | - |
| Gross profit growth (YoY) | 20.1% | 21.1% | 30.0% | 41.8% | 89.3% | - |
| Operating income growth (YoY) | 9.2% | -0.6% | 59.8% | 37.3% | 415.3% | - |
| Net income growth (YoY) | 9.1% | 12.9% | -29.0% | 424.5% | - | - |
| EPS growth (YoY) | 8.0% | 17.8% | -28.3% | 412.1% | - | - |
| EPS CAGR (3y) | -3.0% | 63.0% | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | 59.1% | -0.2% | 51.8% | 46.9% | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - |
| Book value growth (YoY) | 32.0% | 41.1% | 15.9% | 116.0% | 91.9% | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$868.45M totalRare Neurological Diseases Segment$868.45M · 100.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.58
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
5/9
Neutral
- ✓Net income positive
- ✓Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✓Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✗Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Harmony Biosciences Holdings against the 5 most active filers in the same SIC group.