NBIX · Neurocrine Biosciences 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 | $2.86B | $2.36B | $1.89B | $1.49B | $1.13B | $1.05B |
| Cost of Revenue | $52.10M | $34.00M | $39.70M | $10.10M | - | - |
| Gross Profit | $2.81B | $2.32B | $1.85B | $1.48B | - | - |
| R&D | $1.02B | $731.10M | $565.00M | $275.00M | - | - |
| SG&A | $1.16B | $1.01B | $887.60M | $752.70M | $583.30M | $433.30M |
| Total Operating Expenses | $2.24B | $1.78B | $1.64B | $882.90M | $1.03B | $882.90M |
| D&A | $26.00M | $23.50M | $17.80M | $15.10M | $10.90M | $8.60M |
| Operating Income | $619.10M | $570.50M | $250.90M | $249.00M | $102.50M | $163.00M |
| Interest Expense | - | - | $4.60M | $7.10M | $25.80M | $32.80M |
| Income Tax | $226.80M | $144.70M | $82.40M | $59.40M | $11.80M | ($300.60M) |
| Net Income | $478.60M | $341.30M | $249.70M | $154.50M | $89.60M | $407.30M |
| EPS - Basic | $4.81 | $3.40 | $2.56 | $1.61 | $0.95 | $4.38 |
| EPS - Diluted | $4.67 | $3.29 | $2.47 | $1.56 | $0.92 | $4.16 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $713.00M | $233.00M | $251.10M | $262.90M | $340.80M | $187.10M |
| Accounts Receivable | $686.80M | $479.10M | $439.30M | $350.00M | $185.50M | $157.10M |
| Inventory | $69.00M | $57.40M | $38.30M | $35.10M | $30.50M | $28.00M |
| Accounts Payable | - | - | - | - | - | - |
| Current Assets | $2.52B | $1.72B | $1.61B | $1.45B | $972.80M | $1.02B |
| Total Assets | $4.63B | $3.72B | $3.25B | $2.37B | $2.07B | $1.73B |
| Current Liabilities | $743.40M | $507.70M | $654.80M | $537.70M | $245.80M | $186.50M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $1.38B | $1.13B | $1.02B | $660.90M | $698.50M | $608.50M |
| Stockholders' Equity | $3.25B | $2.59B | $2.23B | $1.71B | $1.37B | $1.13B |
| Retained Earnings | $447.70M | $29.20M | ($157.10M) | ($406.80M) | ($635.80M) | ($725.40M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $782.70M | $595.40M | $389.90M | $339.40M | $256.50M | $228.50M |
| Investing Cash Flow | ($264.40M) | ($126.80M) | ($467.10M) | ($177.10M) | ($130.20M) | $4.10M |
| Financing Cash Flow | ($38.30M) | ($486.70M) | $65.30M | ($234.30M) | $27.40M | ($157.80M) |
| CapEx | $34.00M | $38.20M | $28.30M | $16.50M | $23.40M | $10.90M |
| Free Cash Flow | $748.70M | $557.20M | $361.60M | $322.90M | $233.10M | $217.60M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 98.2% | 98.6% | 97.9% | 99.3% | - | - |
| Operating margin | 21.6% | 24.2% | 13.3% | 16.7% | 9.0% | 15.6% |
| EBITDA margin | 22.6% | 25.2% | 14.2% | 17.7% | 10.0% | 16.4% |
| Net margin | 16.7% | 14.5% | 13.2% | 10.4% | 7.9% | 38.9% |
| Free cash flow margin | 26.2% | 23.7% | 19.2% | 21.7% | 20.6% | 20.8% |
| FCF / Net income | 1.56 | 1.63 | 1.45 | 2.09 | 2.60 | 0.53 |
| R&D / Revenue | 35.5% | 31.0% | 29.9% | 18.5% | - | - |
| SG&A / Revenue | 40.4% | 42.8% | 47.0% | 50.6% | 51.5% | 41.4% |
| Effective tax rate | 32.2% | 29.8% | 24.8% | 27.8% | 11.6% | -281.7% |
| Return on assets | 10.3% | 9.2% | 7.7% | 6.5% | 4.3% | 23.5% |
| Return on equity | 14.7% | 13.2% | 11.2% | 9.0% | 6.5% | 36.2% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 3.39 | 3.40 | 2.45 | 2.70 | 3.96 | 5.45 |
| Quick ratio | 3.30 | 3.28 | 2.40 | 2.64 | 3.83 | 5.30 |
| Cash ratio | 0.96 | 0.46 | 0.38 | 0.49 | 1.39 | 1.00 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | - | - | 54.5x | 35.1x | 4.0x | 5.0x |
| Equity multiplier | 1.42 | 1.44 | 1.46 | 1.39 | 1.51 | 1.54 |
| Liabilities / Assets | 0.30 | 0.30 | 0.31 | 0.28 | 0.34 | 0.35 |
| Efficiency | ||||||
| Asset turnover | 0.62 | 0.63 | 0.58 | 0.63 | 0.55 | 0.60 |
| Inventory turnover | 0.76 | 0.59 | 1.04 | 0.29 | - | - |
| Days sales outstanding | 88d | 74d | 85d | 86d | 60d | 55d |
| Days inventory outstanding | 483d | 616d | 352d | 1268d | - | - |
| Days payable outstanding | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | 30.4x | 41.5x | 53.3x | 76.6x | 92.6x | 23.0x |
| P / B | 4.5x | 5.5x | 6.0x | 6.9x | 6.1x | 8.3x |
| P / S | 5.1x | 6.0x | 7.1x | 7.9x | 7.4x | 9.0x |
| EV / EBITDA | 21.4x | 23.4x | 48.6x | 43.7x | 70.5x | 53.5x |
| Growth | ||||||
| Revenue growth (YoY) | 21.4% | 24.8% | 26.8% | 31.3% | 8.4% | 32.7% |
| Revenue CAGR (3y) | 24.3% | 27.6% | 21.7% | 23.6% | 322.8% | 86.3% |
| Revenue CAGR (5y) | 22.3% | 24.5% | 163.0% | 55.9% | 137.5% | 121.2% |
| Gross profit growth (YoY) | 21.0% | 25.7% | 24.9% | - | - | - |
| Operating income growth (YoY) | 8.5% | 127.4% | 0.8% | 142.9% | -37.1% | 125.5% |
| Net income growth (YoY) | 40.2% | 36.7% | 61.6% | 72.4% | -78.0% | 1000.5% |
| EPS growth (YoY) | 41.9% | 33.2% | 58.3% | 69.6% | -77.9% | 966.7% |
| EPS CAGR (3y) | 44.1% | 52.9% | -16.0% | 58.7% | 61.1% | - |
| EPS CAGR (5y) | 2.3% | 53.2% | 62.2% | - | - | - |
| FCF growth (YoY) | 34.4% | 54.1% | 12.0% | 38.5% | 7.1% | 58.5% |
| FCF CAGR (5y) | 28.0% | 32.3% | - | - | - | - |
| Book value growth (YoY) | 25.6% | 16.0% | 30.7% | 24.3% | 22.0% | 76.8% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$2.51B totalReportable Segment$2.51B · 100.0%
Product / service
$2.86B totalProduct$2.83B · 99.1%
Collaboration Revenue$26.60M · 0.9%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
2.38
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: Biological Products, (No Diagnostic Substances)
Comparing NEUROCRINE BIOSCIENCES INC against the 5 most active filers in the same SIC group.