CORCEPT THERAPEUTICS INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data CORCEPT THERAPEUTICS INC 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	81.3	159	251	306	354	366	402	482	675	761
Cost of revenue	2.06	3.55	5.22	5.5	5.58	5.28	5.39	6.48	10.9	13
Gross profit	79.3	156	246	301	348	361	396	476	664	748
Research and development	23.8	40.4	75.2	89	115	114	131	184	247	255
Selling, general and administrative	45.2	62.4	81.3	100	105	122	153	184	280	449
Operating income	10.2	52.9	89.5	112	128	124	113	107	137	44.8
Interest expense	2.04
Other non-operating income						0.53	3.56	17.3	24.5	21.7
Pre-tax income	8.14	52.8	92.2	117	132	125	116	125	161	66.5
Income tax	0	-76.3	16.7	22.5	25.6	12.5	14.8	18.4	20.3	-33.2
Net income	8.14	129	75.4	94.2	106	113	101	106	141	99.7
EBITDA	10.3	53	89.7	112	129	126	114	108	138	45.9
EPS, basic	0.07	1.14	0.65	0.82	0.92	0.97	0.95	1.02	1.35	0.95
EPS, diluted	0.07	1.04	0.60	0.77	0.85	0.89	0.87	0.94	1.23	0.82
Shares, basic (weighted)	111	114	115	114	115	116	107	104	103	104
Shares, diluted (weighted)	116	125	127	123	124	126	116	112	113	120

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	51.5	31.1	41.6	31.3	76.2	77.6	66.3	136	128	120
Short-term investments	0	57.7	165	245	365	146	365	233	256	252
Receivables	9.86	15.3	17.6	19.9	26.2	27.6	31.1	41.1	54	59.8
Inventory	2.33	4.58	4.73	5.42	4.91	4.99	6.1	7.73	12.4	12.9
Other current assets	1.96	2.67	7.74	6.04	6.7	10.3	16.4	5.88	6.08	7.1
Total current assets	65.7	124	237	307	479	266	499	459	472	485
Property, plant and equipment	0.21	0.52	0.66	1.05	1.68	1	0.63	0.2	2.69	1.89
Lease right-of-use assets				3.45	2.51	0.51	1.14	0.12	5.32	4.58
Long-term investments	0	15.3	0	39.4	36.2	112	4.95	57.2	220	160
Other non-current assets	0.02	0.05	0.05	3.45	5	3.08	5.06	6.54	6.61	5.15
Total assets	68.8	221	312	412	572	424	583	622	841	837
Accounts payable	2.29	8.58	8.27	7.54	10.6	6.91	12	17.4	15.4	40.4
Accrued liabilities	8.95	18.7	23.8	23.3	21.2	27.7	30.8	51.6	90.7	90.6
Deferred revenue	0
Short-term debt	14.7	0
Total current liabilities	27.4	29.6	35.6	38.8	47.5	47.5	72.5	105	141	166
Long-term debt	0	0
Lease liabilities				1.9	0.5	0		0	6.11	5.02
Total liabilities	27.4	29.6	35.8	41.1	48.4	48	81.6	115	161	189
Total debt	14.7	0
Paid-in capital	364	384	417	457	516	591	662	739	832	969
Retained earnings	-322	-193	-118	-23.6	82.5	195	296	403	544	643
Treasury stock		0	-23.7	-62.7	-75.8	-410	-456	-635	-696	-967
Other comprehensive income	0	-0.08	-0.07	0.26	0.42	-0.23	-0.87	0.61	-0.22	2.26
Shareholders' equity	41.4	191	276	371	523	376	502	507	680	648
Total equity	41.4	191	276	371	523	376	502	507	680	648
Total liabilities and equity	68.8	221	312	412	572	424	583	622	841	837
Shares outstanding	113	115	115	115	117	106	108	103	105	106

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	8.14	129	75.4	94.2	106	113	101	106	141	99.7
Depreciation and amortization	0.09	0.11	0.24	0.7	0.53	1.07	1.26	1.04	0.8	1.15
Stock-based compensation	7.06	13.4	23.7	29.3	33.5	42.9	42.4	48.9	61.4	84.5
Deferred income tax	0	-76.7	14.1	16.9	14.1	4.35	-33.9	-29.5	-40.2	-37.5
Change in receivables	-3.64	-5.44	-2.29	-2.34	-6.27	-1.43	-3.43	-10.1	-12.9	-5.81
Change in inventory	-0.68	-2.26	-7.78	-1.04	-3.51	3.44	1.2	1.27	0.31	-7.48
Change in payables	0.97	6.29	-0.39	-0.74	3.16	-3.6	4.76	5.42	-2.02	25.1
Cash from operations	18.4	60.9	116	136	152	168	120	127	198	142
Capital expenditures	-0.19	-0.42	-0.3	-1.09	-1.24	-0.47	-0.41	-0.14	-2.17	-0.21
Purchases of investments	0	-103	-233	-299	-420	-313	-355	-329	-588	-320
Sales and maturities of investments				182	302	399	241	420	413	390
Cash from investing	-0.19	-73.5	-90.8	-118	-119	136	-114	90.9	-178	69.8
Debt repaid	-14.8	-15.1	0	0
Stock issued	7.68	7.18						1.98	4.16	15.9
Share buybacks	0	0	-23.7	-31	-9.95		0	0	-15.7	-173
Cash from financing	-7.1	-7.95	-14.3	-28.6	12.2	-303	-17.3	-149	-28.3	-220
Exchange rate effect								0.36	-0.23	1.44
Net change in cash	11.1	-20.5	10.6	-10.4	44.9	1.43	-11.3	69.2	-7.89	-7.17
Free cash flow	18.2	60.5	115	135	151	167	120	127	196	142
Income taxes paid	0.04	0.38	1.35	6.74	10.9	9.1	39.7	47.6	60.3	13

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 $116.10 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	98.3%	Gross profit / revenue.
Operating margin	0.8%	Operating income / revenue.
EBITDA margin	1.0%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	3.2%	Pre-tax income / revenue.
Net margin	6.6%	Net income / revenue.
FCF margin	12.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	13.2%	Cash from operations / revenue.
Effective tax rate	-109.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	7.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	6.2%	Net income / average total assets.
Return on invested capital (ROIC)	0.9%	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	30.6%	Research and development expense / revenue.
SG&A / revenue	67.0%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	11.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.3%	Capital expenditures / revenue.
D&A / revenue	0.2%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	12.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	23.7%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	16.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	12.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	23.6%	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	16.5%	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	-67.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-26.5%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	-19.0%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-66.6%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-26.1%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-18.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-29.4%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-0.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	-1.2%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-33.3%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-2.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	-0.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-28.4%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.7%	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	-1.3%	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	-27.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	5.7%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	-1.2%	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	-4.7%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	8.9%	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	4.4%	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	-0.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	12.8%	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	7.9%	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	5.7%	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	1.1%	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	-0.7%	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	2.86x	Current assets / current liabilities.
Quick ratio	2.50x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	2.00x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	20.6%	Total liabilities / total assets.
Working capital	$285.9M	Current assets - current liabilities.
Tangible book value	$705.8M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.93x	Revenue / average total assets.
Fixed asset turnover	162x	Revenue / average property, plant and equipment.
Inventory turnover	1.07x	Cost of revenue / average inventory.
Days inventory	342 days	365 x average inventory / cost of revenue.
Receivables turnover	10.8x	Revenue / average receivables.
Days sales outstanding	34 days	365 x average receivables / revenue.
Days payables	386 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	-11 days	Days inventory + days sales outstanding - days payables.
FCF conversion	193.8%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	2.5%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$0.47	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	$7.02	Revenue / diluted weighted shares.
FCF per share	$0.90	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.93	Cash from operations / diluted weighted shares.
Book value per share	$5.96	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.96	Tangible book value / shares outstanding.
Cash per share	$2.60	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	39.7%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$12.55B	Share price x shares outstanding.
Enterprise value	$12.24B	Market cap + total debt - cash - short-term investments.
P/E	227x	Market cap / net income. Only when net income is positive.
P/S	15.1x	Market cap / revenue.
P/B	17.8x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	17.8x	Market cap / tangible book value, when positive.
P/FCF	117x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	114x	Market cap / cash from operations, when positive.
EV/Sales	14.7x	Enterprise value / revenue.
EV/EBIT	1,911x	Enterprise value / operating income, when both are positive.
EV/EBITDA	1,514x	Enterprise value / EBITDA, when both are positive.
EV/FCF	114x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.9%	Free cash flow / market cap.
Earnings yield	0.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	0.3%	(Dividends paid + share buybacks) / market cap.

What was CORCEPT THERAPEUTICS INC's revenue in fiscal 2025?

CORCEPT THERAPEUTICS INC reported revenue of $761.4M for fiscal 2025, 12.8% higher than the year before.

Was CORCEPT THERAPEUTICS INC profitable in fiscal 2025?

Yes. Net income was $99.7M, a net margin of 13.1%.

How much free cash flow did CORCEPT THERAPEUTICS INC generate in fiscal 2025?

Cash from operations of $142.0M minus capital expenditures of $211.0K left free cash flow of $141.8M.

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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