Income statement, balance sheet and cash flow statement for the last 8 fiscal years, taken from the XBRL data Legend Biotech Corp 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
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
49.1
60
75
68.8
117
285
627
1,029
Cost of revenue
0
0
65.4
144
216
397
Gross profit
75
68.8
51.6
141
411
632
Research and development
60.6
162
232
313
336
382
414
415
General and administrative
2.77
6.75
23.1
47
80.6
107
137
136
Operating income
-528
-310
-137
Interest expense
0.08
0.22
4.21
0.9
10.8
21.8
21.6
21.4
Interest income
6.21
4.58
2.93
0.97
8.18
54.5
61.2
40.1
Pre-tax income
-1.62
-127
-308
-407
-446
-520
-158
-283
Income tax
1.17
-25.7
-41.9
-3.61
0.63
-1.9
18.9
14.2
Net income
-2.78
-102
-266
-404
-446
-518
-177
-297
EPS, basic
-0.01
-0.51
-1.13
-1.43
-1.40
-1.47
-0.48
-0.81
EPS, diluted
-0.01
-0.51
-1.13
-1.43
-1.40
-1.47
-0.48
-0.81
Balance sheet
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
210
83.4
456
689
786
1,278
287
902
Inventory
1.16
1.8
1.75
10.4
19.4
23.9
32
Total current assets
207
594
950
1,099
1,498
1,284
1,247
Property, plant and equipment
28.2
45.2
72.3
103
105
109
99.3
116
Lease right-of-use assets
3.73
27.8
39.5
38.3
55.6
80.4
102
285
Intangible assets
0.52
2.85
4.68
3.41
4.06
2.2
1.9
Total assets
288
722
1,119
1,331
1,849
1,670
1,734
Total current liabilities
128
116
229
298
216
278
636
Lease liabilities
5.06
1.91
1.59
20
44.2
44.6
87.2
Total liabilities
411
124
354
587
597
630
732
Total debt
120
250
250
250
319
Retained earnings
-123
280
471
Shareholders' equity
-123
598
766
744
1,251
1,041
Total equity
253
151
598
766
744
1,251
1,041
1,002
Total liabilities and equity
288
722
1,119
1,331
1,849
1,670
1,734
Cash flow statement
FY2018
FY2020
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-2.78
-102
-266
-404
-446
-518
-177
-297
Cash from operations
308
-83.1
-223
-198
-201
-393
-144
-100
Capital expenditures
-21
-26.8
-26.3
-42.2
-20.9
-20.1
-14.1
-28.6
Cash from investing
-102
-58.7
-24.2
-195
-77.1
92.9
-851
710
Debt issued
2.87
Debt repaid
-2.87
Cash from financing
2.5
14.7
619
627
378
791
5.7
-0.3
Exchange rate effect
0.12
0.25
0.62
0.03
-2.51
0.7
-2.1
6.1
Net change in cash
492
-991
615
Free cash flow
287
-110
-249
-241
-222
-413
-158
-129
Income taxes paid
-7.39
-0.56
-3.71
-1
0
0
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $19.11 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
61.4%
Gross profit / revenue.
Operating margin
-13.3%
Operating income / revenue.
Pre-tax margin
-27.5%
Pre-tax income / revenue.
Net margin
-28.8%
Net income / revenue.
FCF margin
-12.5%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-9.7%
Cash from operations / revenue.
Return on assets (ROA)
-17.4%
Net income / average total assets.
R&D / revenue
40.3%
Research and development expense / revenue.
Capex / revenue
2.8%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
64.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
106.4%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
68.8%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
53.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
130.4%
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
53.1%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
3.8%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
9.2%
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
19.1%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.96x
Current assets / current liabilities.
Quick ratio
1.42x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.42x
(Cash + short-term investments) / current liabilities.
Debt / assets
18.4%
Total debt / total assets.
Liabilities / assets
42.2%
Total liabilities / total assets.
Net debt
-$582.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage
-6.38x
Operating income / interest expense.
Working capital
$610.7M
Current assets - current liabilities.
Goodwill and intangibles / assets
0.1%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.60x
Revenue / average total assets.
Fixed asset turnover
9.54x
Revenue / average property, plant and equipment.
Inventory turnover
14.2x
Cost of revenue / average inventory.
Days inventory
26 days
365 x average inventory / cost of revenue.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$0.81
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.
EPS, basic
-$0.81
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$3.69B
Share price x shares outstanding.
Enterprise value
$3.11B
Market cap + total debt - cash - short-term investments.
P/S
3.58x
Market cap / revenue.
EV/Sales
3.02x
Enterprise value / revenue.
FCF yield
-3.5%
Free cash flow / market cap.
Earnings yield
-8.0%
Net income / market cap (the inverse of P/E).
What was Legend Biotech Corp's revenue in fiscal 2025?
Legend Biotech Corp reported revenue of $1.03B for fiscal 2025, 64% higher than the year before.
Was Legend Biotech Corp profitable in fiscal 2025?
No. It reported a net loss of $296.8M.
How much free cash flow did Legend Biotech Corp generate in fiscal 2025?
Cash from operations of $100.2M minus capital expenditures of $28.6M left free cash flow of -$128.8M.
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.