Alkermes plc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Alkermes plc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	746	903	1,094	1,171	1,039	1,174	1,112	1,663	1,558	1,476
Cost of revenue	132	155	176	180	178	197	218	253	245	196
Gross profit	614	749	918	991	860	976	894	1,410	1,312	1,279
Research and development	387	413	425	513	395	291	273	271	245	324
Selling, general and administrative	374	422	526	599	539	550	591	690	645	702
Selling and marketing							392	490	446	480
General and administrative							199	200	199	222
Operating income	-209	-148	-99.1	-175	-112	97.7	-6.09	414	421	254
Interest expense	14.9	12	15.4	13.6	8.66	11.2	13	23	22.6	12.3
Interest income	3.75	4.65	9.24	14	6.96	2.41	7.63	30.9	42.5	45.3
Other non-operating income	-5.72	4.63	-27.8	-21.6	15.9	-10	-25	7.4	23.1	37.5
Pre-tax income	-214	-143	-127	-197	-96.5	87.7	-31.1	422	444	291
Income tax	-5.94	14.7	12.3	-0.44	14.3	11.3	2.02	-97.6	71.6	49.8
Income from continuing operations						76.4	-33.2	519	372	242
Net income	-208	-158	-139	-197	-111	-48.2	-158	356	367	242
EBITDA	-114	-49.4	4.53	-95.1	-30.6	176	71.8	489	449	281
EPS, basic	-1.38	-1.03	-0.90	-1.25	-0.70	-0.30	-0.97	2.14	2.22	1.47
EPS, diluted	-1.38	-1.03	-0.90	-1.25	-0.70	-0.29	-0.97	2.10	2.17	1.43
Shares, basic (weighted)	151	153	155	157	159	161	164	166	165	165
Shares, diluted (weighted)	151	153	155	157	159	165	164	170	169	169

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	186	191	267	204	273	338	292	457	291	389
Short-term investments	311	242	273	331	362	199	316	316	461	200
Receivables	191	234	292	257	275	313	288	332	385	334
Inventory	63	93.3	90.2	102	126	150	181	186	183	197
Other current assets	39.3	48.5	53.3	59.7	60.7	49	41.2	98.2	91.3	79.1
Total current assets	791	809	983	962	1,111	1,062	1,130	1,486	1,415	1,929
Property, plant and equipment	265	285	310	362	350	341	223	227	228	222
Lease right-of-use assets				12.4	132	116	97.5	91.5	84.2	77.2
Goodwill	92.9	92.9	92.9	92.9	92.9	92.9	83	83	83	83
Intangible assets	318	256	191	151	111	74	37.7	1.99	0.89	0.82
Long-term investments	122	157	80.7	79.4	24.8	229	132	39.9	73.1	0.15
Other non-current assets	27	14	16.1	17	17.3	27.5	14.7	11.5	16.5	49.1
Total assets	1,726	1,797	1,825	1,805	1,950	2,024	1,964	2,136	2,056	2,487
Accounts payable	46.3	55.5	39.8	54.3	46	55.7	32.8	65.6	45.6	108
Accrued liabilities				72.1	71.2	77.3	79.1	83.1	71	82.5
Deferred revenue	1.94	1.96	3.17	6.77	7.51	6.34	6.82	2.73	1.25	0
Short-term debt	3	3	2.84	2.84	2.84	3	3	3		0
Total current liabilities	212	291	340	391	438	471	498	520	465	543
Long-term debt	281	278	276	274	272	293	290	288		0
Lease liabilities				5.34	119	104	76.3	75.7	69.4	63.3
Other non-current liabilities	17.2	19.2	28	27.1	36.5	43.6	42.4	49.9	56	61
Total liabilities	517	594	654	720	883	912	920	934	591	668
Total debt	284	281	279	277	275	296	293	291		0
Paid-in capital	2,232	2,339	2,467	2,586	2,686	2,798	2,913	2,737	2,861	3,005
Retained earnings	-948	-1,044	-1,185	-1,382	-1,493	-1,541	-1,699	-1,344	-976	-735
Treasury stock	-72.6	-89.3	-109	-118	-126	-143	-161	-189	-419	-450
Other comprehensive income	-3.27	-3.79	-3.28	-1.82	-1.35	-3.72	-10.9	-3.11	-1.97	-2.1
Shareholders' equity	1,209	1,203	1,171	1,085	1,067	1,113	1,044	1,203	1,465	1,819
Total equity	1,209	1,203	1,171	1,085	1,067	1,113	1,044	1,203	1,465	1,819
Total liabilities and equity	1,726	1,797	1,825	1,805	1,950	2,024	1,964	2,136	2,056	2,487
Shares outstanding	152	154	156	158	159	162	164	167	162	166

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-208	-158	-139	-197	-111	-48.2	-158	356	367	242
Depreciation and amortization	94.3	98.5	104	80.4	81.9	78.7	77.9	74.9	28.5	27.2
Stock-based compensation	94.4	83.9	105	101	90.2	87.6	94.3	101	96.6	98.7
Deferred income tax	-9.69	7.23	10.6	-0.32	9.99	5.08	-32.8	-97.4	40.5	28.8
Change in receivables	-35.6	-42.5	-58.6	35.1	-18.1	-38	25.3	-44.5	-52.1	50.5
Change in inventory	-26.4	-30.2	-2.67	-13.1	-22.9	-24.8	-31	-2.71	3.09	-14.1
Change in payables	45.9	72.7	46.7	34.8	-14.4	11.5	15.5	23	-58	101
Cash from operations	-63.8	19.2	99.3	72.1	82.8	102	21	401	439	521
Capital expenditures	-43.7	-51.3	-69.4	-90.9	-42.2	-28	-38.3	-48	-33.5	-40.4
Acquisitions				-8.88
Purchases of investments	-375	-432	-398	-278	-230	-340	-310	-254	-487	-364
Sales and maturities of investments	561	464	444	225	253	295	282	356	310	697
Cash from investing	127	-18.4	-22.2	-142	-11.5	-66.2	-64.5	53.4	-111	295
Debt issued						23.6
Debt repaid	-3.43	-3	-0.74	-2.84	-2.84	-2.25	-3	-3	-2.25
Share buybacks									-200
Cash from financing	-58.2	4.08	-1.62	6.77	-2.17	29.1	-1.57	-290	-494	12.4
Net change in cash	5.27	4.92	75.5	-63	69.2	64.6	-45.1	165	-166	829
Free cash flow	-107	-32.1	29.9	-18.9	40.6	73.7	-17.2	353	406	480
Interest paid	12.5	11.1	12.5	13.3	8.29	6.9	13.6	22.7	23
Income taxes paid	5.53	2.99	0.75	2.51	0.62	1.89	20.7	44.2	2.59	5.24

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $40.85 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	84.6%	Gross profit / revenue.
Operating margin	7.0%	Operating income / revenue.
EBITDA margin	10.7%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	5.8%	Pre-tax income / revenue.
Net margin	4.0%	Net income / revenue.
FCF margin	13.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	15.1%	Cash from operations / revenue.
Effective tax rate	32.1%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	3.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	1.5%	Net income / average total assets.
Return on invested capital (ROIC)	2.8%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	23.4%	Research and development expense / revenue.
SG&A / revenue	50.4%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	7.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.8%	Capital expenditures / revenue.
D&A / revenue	3.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-5.2%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	9.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	7.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-2.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	12.7%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	8.3%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-39.6%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-37.4%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	57.6%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income growth, 1y	-34.2%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-34.1%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	18.6%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	191.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	44.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	18.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 5y	63.9%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	24.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	20.3%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	11.3%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	21.0%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	8.2%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	5.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-0.3%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	1.0%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	1.2%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	2.30x	Current assets / current liabilities.
Quick ratio	1.68x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.99x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.84x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	34.7%	Total debt / total assets.
Liabilities / assets	58.8%	Total liabilities / total assets.
Net debt	$868.4M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	4.85x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	1.98x	Operating income / interest expense.
Working capital	$860.8M	Current assets - current liabilities.
Goodwill and intangibles / assets	53.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$547.2M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.38x	Revenue / average total assets.
Fixed asset turnover	7.64x	Revenue / average property, plant and equipment.
Inventory turnover	0.86x	Cost of revenue / average inventory.
Days inventory	424 days	365 x average inventory / cost of revenue.
Receivables turnover	3.65x	Revenue / average receivables.
Days sales outstanding	100 days	365 x average receivables / revenue.
Days payables	203 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	321 days	Days inventory + days sales outstanding - days payables.
FCF conversion	335.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	11.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.38	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$9.61	Revenue / diluted weighted shares.
FCF per share	$1.28	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.45	Cash from operations / diluted weighted shares.
Book value per share	$10.79	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$3.27	Tangible book value / shares outstanding.
Cash per share	$3.92	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$6.85B	Share price x shares outstanding.
Enterprise value	$7.72B	Market cap + total debt - cash - short-term investments.
P/E	104x	Market cap / net income. Only when net income is positive.
P/S	4.11x	Market cap / revenue.
P/B	3.79x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	30.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	27.3x	Market cap / cash from operations, when positive.
EV/Sales	4.63x	Enterprise value / revenue.
EV/EBIT	65.9x	Enterprise value / operating income, when both are positive.
EV/EBITDA	43.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	34.8x	Enterprise value / free cash flow, when both are positive.
FCF yield	3.2%	Free cash flow / market cap.
Earnings yield	1.0%	Net income / market cap (the inverse of P/E).

What was Alkermes plc.'s revenue in fiscal 2025?

Alkermes plc. reported revenue of $1.48B for fiscal 2025, 5.2% lower than the year before.

Was Alkermes plc. profitable in fiscal 2025?

Yes. Net income was $241.7M, a net margin of 16.4%.

How much free cash flow did Alkermes plc. generate in fiscal 2025?

Cash from operations of $520.8M minus capital expenditures of $40.4M left free cash flow of $480.3M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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