Jazz Pharmaceuticals plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Jazz Pharmaceuticals 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	1,488	1,619	1,891	2,162	2,364	3,094	3,659	3,834	4,069	4,268
Research and development	162	198	227	300	335	506	590	850	884	783
Selling, general and administrative	503	544	684	737	854	1,452	1,417	1,343	1,385	1,809
Operating expenses	896	1,090	1,276
Operating income	592	529	615	532	378	170	-65.5	579	717	-430
Interest expense	27.5	37.8	56.7	62.5	87.6	89.9	32.8	32.8
Interest income		4.1	16.9	20.5	11.1	1.8	11.5	65.1	106	85.8
Pre-tax income	532	441	529	454	275	-113	-373	298	470	-628
Income tax	135	-47.7	80.2	-73.2	33.5	216	-159	-120	-91.4	-272
Net income to minority interests	0	0
Net income	397	488	447	523	239	-330	-224	415	560	-356
EBITDA	603	542	630	548	397	197	-35.2	609	749	-389
EPS, basic	6.56	8.13	7.45	9.22	4.28	-5.52	-3.58	6.55	9.06	-5.84
EPS, diluted	6.41	7.96	7.30	9.09	4.22	-5.52	-3.58	6.10	8.65	-5.84
Shares, basic (weighted)	60.5	60	60	56.7	55.7	59.7	62.5	63.3	61.8	61
Shares, diluted (weighted)	61.9	61.3	61.2	57.6	56.5	59.7	62.5	72.1	66	61

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	366	386	310	637	1,058	591	881	1,506	2,413	1,392
Receivables	234	224	264	356	396	563	651	706	717	831
Inventory	34.1	43.2	53	78.6	95.4	1,073	714	597	480	417
Other current assets	29.3	76.7	67.6	78.9	152	252	267	321	262	324
Total current assets	748	968	1,234	1,630	2,840	2,611	2,606	3,435	4,629	4,166
Property, plant and equipment	107	170	200	132	128	257	228	170	173	200
Lease right-of-use assets			0	139	129	86.6	73.3	65.3	53.6	58.9
Goodwill	894	948	928	920	958	1,828	1,693	1,753	1,716	1,829
Intangible assets	3,012	2,979	2,731	2,441	2,195	7,152	5,794	5,418	4,756	4,430
Other non-current assets	14.1	16.4	42.7	47.9	25.7	40.8	55.1	67.5	114	99
Total assets	4,800	5,124	5,203	5,539	6,536	12,299	10,835	11,393	12,012	11,659
Accounts payable	22.4	24.4	40.6	45.7	26.9	100	90.8	103	77.9	122
Accrued liabilities	193	199	265	270	353	666	803	794	911	1,034
Deferred revenue	1.12	8.62	5.41	4.72	2.55	2.09	0.46	0
Short-term debt	36.1	40.6	33.4	33.4	246	31	31	605	31	1,030
Total current liabilities	257	294	345	364	654	809	933	1,537	1,039	2,243
Long-term debt	1,994	1,540	1,563	1,574	1,849	6,019	5,693	5,108	6,078	4,328
Lease liabilities			0	151	140	87.2	71.8	59.2	38.9	50.9
Other non-current liabilities	113	177	219	109	101	117	107	105	86.6	124
Total liabilities	2,923	2,411	2,446	2,428	2,876	8,333	7,750	7,656	7,919	7,341
Total debt	2,030	1,581	1,596	1,607	2,095	6,050	5,724	5,713	6,109	5,358
Paid-in capital	1,665	1,935	2,114	2,266	2,634	3,535	3,477	3,700	3,914	4,241
Retained earnings	529	918	841	1,068	1,160	830	734	879	1,127	646
Other comprehensive income	-317	-141	-198	-223	-134	-400	-1,126	-842	-948	-569
Shareholders' equity	1,877	2,713	2,757	3,111	3,660	3,965	3,086	3,737	4,094	4,319
Total equity	1,877	2,713	2,757	3,111	3,660	3,965	3,086	3,737	4,094	4,319
Total liabilities and equity	4,800	5,124	5,203	5,539	6,536	12,299	10,835	11,393	12,012	11,659
Shares outstanding	59.8	58.9	57.7	56.1	56.2	61.6	63.2	62.3	60.6	61.4

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	397	488	447	523	239	-330	-224	415	560	-356
Depreciation and amortization	11.8	13.1	15.2	15.3	18.7	26.7	30.3	30.4	32.8	41.6
Stock-based compensation	98.8	107	102	111	121	189	222	227	248	291
Deferred income tax	-41.2	-226	-88.8	-237	-137	69.2	-292	-260	-208	-445
Change in receivables	-25.6	12.3	-40.1	-92.3	-38.6	-92.7	-90.1	-51.9	-21.1	-106
Change in inventory	-17	-8.67	-18.5	-32.8	-30.5	-48.9	-49.6	-13.4	-45.5	-86
Change in payables	0.36	0.21	17	4.77	-18.9	57	-11.2	9.6	-20.1	39.9
Cash from operations	592	693	799	776	900	779	1,272	1,092	1,396	1,356
Capital expenditures	-9.69	-29	-20.4	-40.1	-15	-27.6	-29	-24	-38.1	-58.8
Acquisitions	-1,502	0	0	0	0	-6,235	0	0
Purchases of investments	-132	-385	-1,166	-917	-2,398	-26.8	-61	-390	-1,305	-1,830
Sales and maturities of investments	66.9	230	855	985	1,755	1,095	60	270	845	1,360
Cash from investing	-1,751	-269	-394	-155	-1,008	-5,212	-446	-163	-508	-1,510
Debt issued	995	559	0	0	0	1,472	0	0
Share buybacks	-278	-98.8	-524	-301	-147	0	-0.05	-270	-311	-125
Cash from financing	541	-409	-479	-294	528	3,971	-529	-305	20.5	-873
Exchange rate effect		5.05	-1.7	0.37	0.37	-3.21	-6.22	1.14	-1.68	6.56
Net change in cash	-623	20.1	-76.4	328	420	-466	290	625	907	-1,021
Free cash flow	583	664	779	736	885	751	1,243	1,068	1,358	1,297
Interest paid	39.9	44.6	42.7	43	42.5	138	271	333	315	249
Income taxes paid	160	174	164	184	227	271	94.7	178	115	122

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 $237.95 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Operating margin	19.5%	Operating income / revenue.
EBITDA margin	20.3%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.8%	Pre-tax income / revenue.
Net margin	20.4%	Net income / revenue.
FCF margin	34.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	36.1%	Cash from operations / revenue.
Effective tax rate	-29.3%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	19.6%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	8.5%	Net income / average total assets.
Return on invested capital (ROIC)	9.4%	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	17.7%	Research and development expense / revenue.
SG&A / revenue	36.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	6.7%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	0.8%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.9%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.3%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.5%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-160.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-151.9%	EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y	-163.6%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-167.5%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-2.9%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	2.1%	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	8.5%	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	-4.5%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	1.4%	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	8.0%	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	5.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	11.9%	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	3.4%	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	-2.9%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	2.5%	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	12.3%	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	-7.6%	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	-0.8%	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	1.5%	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	1.78x	Current assets / current liabilities.
Quick ratio	1.12x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.73x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.91x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	39.3%	Total debt / total assets.
Liabilities / assets	56.7%	Total liabilities / total assets.
Net debt	$2.73B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	2.92x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Working capital	$1.74B	Current assets - current liabilities.
Goodwill and intangibles / assets	52.6%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$1.03B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.42x	Revenue / average total assets.
Fixed asset turnover	21.7x	Revenue / average property, plant and equipment.
Receivables turnover	5.22x	Revenue / average receivables.
Days sales outstanding	70 days	365 x average receivables / revenue.
FCF conversion	169.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	4.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$13.56	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	$66.30	Revenue / diluted weighted shares.
FCF per share	$22.93	Free cash flow / diluted weighted shares.
Operating cash flow per share	$23.93	Cash from operations / diluted weighted shares.
Book value per share	$69.19	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$14.81	Tangible book value / shares outstanding.
Cash per share	$23.34	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$15.45B	Share price x shares outstanding.
Enterprise value	$18.18B	Market cap + total debt - cash - short-term investments.
P/E	16.4x	Market cap / net income. Only when net income is positive.
P/S	3.36x	Market cap / revenue.
P/B	3.22x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	9.71x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	9.30x	Market cap / cash from operations, when positive.
EV/Sales	3.95x	Enterprise value / revenue.
EV/EBIT	20.3x	Enterprise value / operating income, when both are positive.
EV/EBITDA	19.5x	Enterprise value / EBITDA, when both are positive.
EV/FCF	11.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.3%	Free cash flow / market cap.
Earnings yield	6.1%	Net income / market cap (the inverse of P/E).

What was Jazz Pharmaceuticals plc's revenue in fiscal 2025?

Jazz Pharmaceuticals plc reported revenue of $4.27B for fiscal 2025, 4.9% higher than the year before.

Was Jazz Pharmaceuticals plc profitable in fiscal 2025?

No. It reported a net loss of $356.1M.

How much free cash flow did Jazz Pharmaceuticals plc generate in fiscal 2025?

Cash from operations of $1.36B minus capital expenditures of $58.8M left free cash flow of $1.30B.

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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