Lantheus Holdings, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Lantheus Holdings, 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	302	331	343	347	339	425	935	1,296	1,534	1,542
Cost of revenue	164	169	168	173	201	238	353	587	546	600
Gross profit	138	162	175	175	139	188	582	710	988	942
Research and development	12.2	18.1	17.1	20	32.8	45	312	77.7	168	177
Selling and marketing	36.5	42.3	43.2	41.9	40.9	68.4	100	142	178	179
General and administrative	38.8	49.8	50.2	61.2	69.3	150	134	125	194	275
Operating expenses		110	110	123	143
Operating income	56.6	51.9	64.5	51.7	-4.2	-60.8	36.2	365	457	311
Interest expense	26.6	18.4	17.4	13.6	9.48	7.75	7.19	20	19.7	19.7
Interest income		0.02	0.17	0.69	0.24	0.05	2.61	19.6	36.8	23.4
Other non-operating income	0.22	8.64	2.47	-6.22	2.2	-7.35	-1.7	66.3	37.2	31.3
Pre-tax income	28.3	39.6	49.5	28.6	-11.5	-75	26.7	411	431	314
Income tax	1.53	-83.7	9.03	-3.04	1.99	-3.76	-1.35	84.3	119	80.2
Net income	26.8	123	40.5	31.7	-13.5	-71.3	28.1	327	312	234
EBITDA	74.9	71.1	78.4	65	20.5	-18.5	84.1	425	522	381
EPS, basic	0.84	3.31	1.06	0.81	-0.25	-1.06	0.41	4.79	4.52	3.46
EPS, diluted	0.82	3.17	1.03	0.79	-0.25	-1.06	0.40	4.65	4.36	3.41
Shares, basic (weighted)	32	37.3	38.2	39	54.1	67.5	68.5	68.3	69.2	67.5
Shares, diluted (weighted)	32.7	38.9	39.5	40.1	54.1	67.5	70.7	70.2	71.7	68.4

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	51.2	76.3	113	92.9	79.6	98.5	416	714	913	359
Receivables	36.8	40.3	43.8	43.5	54	89.3	213	284	321	359
Inventory	17.6	26.1	33	29.2	35.7	35.1	35.5	64	68	64.7
Other current assets	5.18	5.22	5.24	7.28	9.63	12.8	13.1	16.7	16.4	21.4
Total current assets	111	148	195	173	184	236	678	1,086	1,327	900
Property, plant and equipment	94.2	93	108	116	120	117	122	147	177	164
Lease right-of-use assets				0.94	18.4	8.79	19	45.3	36.1	31
Goodwill	15.7	15.7	15.7	15.7	58.6	61.2	61.2	61.2	61.2	240
Intangible assets	15.1	11.8	9.13	7.34	376	349	315	152	162	723
Other non-current assets	20	28.5	30.2	21.6	60.6	38.8	34.4	55.3	44.2	50
Total assets	256	384	440	406	870	864	1,321	1,651	1,980	2,227
Accounts payable	18.9	17.5	18	18.6	16.3	20.8	20.6	41.2	34.6	42.9
Accrued liabilities	12.3	14.5	16	15.1	17.7	22.7	30.4	36.3	48.3	63.2
Short-term debt	3.65	2.75	2.75	10.1	20.7	11.6	0.35	0.82	0.97	0.74
Total current liabilities	43.8	46.8	52.8	66.1	80.5	90.5	248	187	241	333
Long-term debt	274	265	264	184	198	163	558	562	565	569
Lease liabilities				0.81	17.5	16.5	25.4	54.5	53.2	50
Other non-current liabilities	34.7	38	40.8	28.4	63.4	125	46.2	63.3	63.2	108
Total liabilities	362	361	369	291	356	399	874	835	892	1,138
Total debt	278	268	266	194	218	175	558	0.82	0.97	0.74
Paid-in capital	226	233	240	252	666	685	716	758	818	888
Retained earnings	-332	-209	-168	-136	-150	-221	-193	134	446	680
Treasury stock						0	-75	-75	-175	-477
Other comprehensive income	-0.95	-1.03	-1.11	-0.96	-2.05	-0.49	-1.26	-1.04	-1.62	-1.31
Shareholders' equity	-107	23.3	71	115	514	464	447	816	1,088	1,090
Total equity	-107	23.3	71	115	514	464	447	816	1,088	1,090
Total liabilities and equity	256	384	440	406	870	864	1,321	1,651	1,980	2,227
Shares outstanding	38.5	38.5	39.3	39.3	66.9	67.7	68.9	69.9	68.5	64.6

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	26.8	123	40.5	31.7	-13.5	-71.3	28.1	327	312	234
Depreciation and amortization	18.3	19.2	13.9	13.4	24.7	42.3	47.9	60	64.6	70.1
Stock-based compensation	2.52	5.93	8.72	12.5	14.1	15.9	29.3	50.5	76.4	85.6
Deferred income tax	-0.02	-86.9	5.76	9.73	-1.33	4.44	-48	-55.6	-30	21.6
Change in receivables	-1.06	-3.41	-3.99	0.16	-7.46	-33.1	-128	-68.6	-37.7	-17.9
Change in inventory	-3.63	-9.62	-8.69	1.99	-8.46	-3.55	-7.51	-36.2	-2.67	-9.37
Change in payables	5.7	0.6	-2.89	3.23	-4.22	5.43	0.3	17.2	-8.8	-2.49
Cash from operations	49.6	54.8	61.2	80.4	16.4	53.9	282	305	545	390
Capital expenditures	-7.4	-17.5	-20.1	-22.1	0	0	-260	-45.3	-51.6	-36.1
Cash from investing	3.28	-16.3	-19.1	-22.1	-4.91	3.68	-277	5.94	-226	-627
Debt issued	0	274	0	199	0	0	558	0	0
Debt repaid	-78.7	-287	-2.86	-275	-15.5	-43.3	-175	-0.72	-0.32	-1.11
Stock issued	50.9	0.19	0.43	0.57	0.68	0.77	1.38	1.93	3.45	7.15
Share buybacks					0	0	-75	0	-100	-300
Cash from financing	-30.2	-13.5	-4.67	-78.9	-21.9	-39.3	312	-13.1	-119	-317
Exchange rate effect		0.09	-0.28	0.08	0.15	-0.31	-0.34	-0.09	-1	-0.05
Net change in cash	22.6	25.1	37.1	-20.5	-10.2	18	317	298	199	-554
Free cash flow	42.2	37.2	41.1	58.3	16.4	53.9	21.8	260	493	354
Interest paid	24.4	16.7	15.9	12.3	9.37	6.28	5.06	15.4	15.1	15.1
Income taxes paid	0.27	0.11	0.09	0.27	0.34	0.22	54	152	154	69

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 $99.74 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	60.1%	Gross profit / revenue.
Operating margin	19.4%	Operating income / revenue.
EBITDA margin	25.1%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	23.3%	Pre-tax income / revenue.
Net margin	17.7%	Net income / revenue.
FCF margin	24.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	26.5%	Cash from operations / revenue.
Effective tax rate	24.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	21.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	11.4%	Net income / average total assets.
Return on invested capital (ROIC)	31.9%	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	11.1%	Research and development expense / revenue.
Stock-based pay / revenue	5.0%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.6%	Capital expenditures / revenue.
D&A / revenue	5.7%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	0.5%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	18.1%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	35.3%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-4.7%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	17.4%	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	46.7%	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	-32.0%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	104.8%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA growth, 1y	-27.0%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	65.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	79.4%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-25.2%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	102.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS growth, 1y	-21.8%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	104.3%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 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	11.5%	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	88.5%	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	-28.2%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	153.3%	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	84.9%	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	0.2%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	34.6%	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	16.2%	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	12.5%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	19.0%	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	20.7%	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	-4.5%	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	4.8%	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	3.06x	Current assets / current liabilities.
Quick ratio	2.82x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	1.77x	(Cash + short-term investments) / current liabilities.
Debt / equity	0.00x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	0.0%	Total debt / total assets.
Liabilities / assets	45.7%	Total liabilities / total assets.
Net debt	-$592.6M	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	-1.52x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	15.3x	Operating income / interest expense.
Working capital	$691.4M	Current assets - current liabilities.
Goodwill and intangibles / assets	38.4%	(Goodwill + intangible assets) / total assets.
Tangible book value	$383.4M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.64x	Revenue / average total assets.
Fixed asset turnover	10.2x	Revenue / average property, plant and equipment.
Inventory turnover	10.8x	Cost of revenue / average inventory.
Days inventory	34 days	365 x average inventory / cost of revenue.
Receivables turnover	4.41x	Revenue / average receivables.
Days sales outstanding	83 days	365 x average receivables / revenue.
Days payables	28 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	88 days	Days inventory + days sales outstanding - days payables.
FCF conversion	140.9%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.0%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$4.08	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	$23.05	Revenue / diluted weighted shares.
FCF per share	$5.74	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.11	Cash from operations / diluted weighted shares.
Book value per share	$20.10	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$5.87	Tangible book value / shares outstanding.
Cash per share	$9.09	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$6.51B	Share price x shares outstanding.
Enterprise value	$5.92B	Market cap + total debt - cash - short-term investments.
P/E	23.6x	Market cap / net income. Only when net income is positive.
P/S	4.18x	Market cap / revenue.
P/B	4.96x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	17.0x	Market cap / tangible book value, when positive.
P/FCF	16.8x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	15.8x	Market cap / cash from operations, when positive.
EV/Sales	3.80x	Enterprise value / revenue.
EV/EBIT	19.6x	Enterprise value / operating income, when both are positive.
EV/EBITDA	15.1x	Enterprise value / EBITDA, when both are positive.
EV/FCF	15.3x	Enterprise value / free cash flow, when both are positive.
FCF yield	6.0%	Free cash flow / market cap.
Earnings yield	4.2%	Net income / market cap (the inverse of P/E).
PEG	0.23x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Lantheus Holdings, Inc.'s revenue in fiscal 2025?

Lantheus Holdings, Inc. reported revenue of $1.54B for fiscal 2025, 0.5% higher than the year before.

Was Lantheus Holdings, Inc. profitable in fiscal 2025?

Yes. Net income was $233.6M, a net margin of 15.2%.

How much free cash flow did Lantheus Holdings, Inc. generate in fiscal 2025?

Cash from operations of $390.1M minus capital expenditures of $36.1M left free cash flow of $354.1M.

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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