PERRIGO Co plc financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data PERRIGO Co 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	5,281	4,946	4,732	3,870	4,088	4,139	4,452	4,656	4,373	4,253
Cost of revenue	3,229	2,967	2,900	2,436	2,593	2,723	2,996	2,975	2,831	2,759
Gross profit	2,052	1,980	1,832	1,434	1,495	1,416	1,455	1,680	1,543	1,495
Research and development	184	168	219	119	122	122	123	123	112	95.4
Selling and marketing	665	598	596	539	546	536	585	642	547	527
General and administrative	452	461	436	477	479	482	512	522	468	436
Operating expenses	4,052	1,381	1,595	1,259	1,230	1,006	1,377	1,529	1,430	2,617
Operating income	-2,000	598	237	175	265	410	78.9	152	113	-1,122
Other non-operating income	-22.7	10.1	-6.1	68.9	-16.3	-26.7	-53.1	10.4	0.9	-13.2
Pre-tax income	-4,848	280	291	-204	-180	259	-139	-8.3	-80.7	-1,298
Income tax	-836	161	160	-10.7	-38.3	390	-8.2	-3.9	80	104
Income from continuing operations				159	44.2	-131	-131	-4.4	-161	-1,402
Net income	-4,013	120	131	146	-163	-68.9	-141	-12.7	-172	-1,425
EBITDA	-1,543	1,043	660	571	650	723	418	511	439	-785
EPS, basic	-28.01	0.84	0.95	1.07	-1.20	-0.52	-1.04	-0.09	-1.25	-10.29
EPS, diluted	-28.01	0.84	0.95	1.07	-1.19	-0.52	-1.04	-0.09	-1.25	-10.29
Shares, basic (weighted)	143	142	138	136	136	134	135	135	137	139
Shares, diluted (weighted)	143	143	138	137	137	134	135	135	137	139
Dividend per share	0.58	0.64	0.76	0.82	0.90	0.96	1.04	1.09	1.10	1.16

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	622	679	551	354	632	1,865	601	751	559	532
Receivables	1,176	1,131	1,073	1,243	594	653	697	740	642	613
Inventory	795	807	878	967	1,059	1,020	1,150	1,141	1,082	1,149
Other current assets	212	203	400	166	182	306	272	201	199	231
Total current assets	2,805	2,820	2,902	2,731	3,134	3,860	2,720	2,833	2,482	2,797
Property, plant and equipment	870	833	829	774	865	864	926	916	918	899
Lease right-of-use assets			0	130	155	167	217	184	175	168
Goodwill	4,049	4,175	3,980	3,103	3,096	2,999	3,490	3,529	3,320	2,050
Intangible assets	4,532	4,752	4,429	4,754	3,890	3,684	5,008	5,002	4,503	4,760
Other non-current assets	212	410	363	426	347	378	368	335	319	262
Total assets	13,870	11,629	10,983	11,301	11,488	10,426	11,017	10,809	9,648	8,535
Accounts payable	472	450	475	520	452	411	537	478	495	475
Accrued liabilities	263	231	201	229	183	279	250	335	239	112
Short-term debt	573	70.4	190	3.4	37.3	604	36.2	441	36.4	36.6
Total current liabilities	1,836	1,436	1,537	1,336	1,382	1,588	1,114	1,586	1,044	1,013
Long-term debt	5,225	3,271	3,052	3,366	3,528	2,917	4,070	3,633	3,582	3,604
Lease liabilities				102	133	147	190	160	154	152
Other non-current liabilities	462	430	443	515	539	530	623	560	499	814
Total liabilities	7,913	5,458	5,315	5,497	5,833	5,274	6,175	6,041	5,328	5,600
Total debt	5,797	3,341	3,242	3,369	3,565	3,521	4,107	4,073	3,618	3,640
Retained earnings	-2,095	-1,976	-1,838	-1,696	-1,858	-1,927	-2,068	-2,080	-2,252	-3,678
Other comprehensive income	-81.8	253	84.6	139	395	35.5	-27	10.7	-162	4.8
Shareholders' equity	5,958	6,171	5,668	5,804	5,655	5,152	4,842	4,768	4,319	2,936
Minority interests	-0.5	0.1	0.1	0.3	0
Total equity	5,958	6,171	5,668	5,804	5,655	5,152	4,842	4,768	4,319	2,936
Total liabilities and equity	13,870	11,629	10,983	11,301	11,488	10,426	11,017	10,809	9,648	8,535
Shares outstanding	143	141					135	136	137	138

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	-4,013	120	131	146	-163	-68.9	-141	-12.7	-172	-1,425
Depreciation and amortization	457	445	424	397	385	312	339	360	326	338
Stock-based compensation	23	43.8	37.7	52.2	58.5	60.1	54.9	68.8	64.4	54.6
Deferred income tax	-991	-48.9	-17.9	-43.9	-54.5	9.4	-50.5	-107	9.8	-50.8
Change in receivables	-0.6	3.2	21	-141	169	-160	0.1	-57.1	-11.1	30.7
Change in inventory	101	-16	-98.6	-67	-171	-2.4	-76.7	19.4	13.7	-61.1
Change in payables	-75.7	-39.6	28.8	17	-2.7	-7.9	100	-65.9	54.2	-28.7
Cash from operations	655	699	593	388	636	156	307	406	363	239
Capital expenditures	-106	-88.6	-103	-138	-170	-152	-96.4	-102	-118	-93.4
Acquisitions	-427	-0.4	0	-748	-169	0	-2,011	0	0
Purchases of investments			-7.5	0	0
Sales and maturities of investments	0	2,200	0	0
Cash from investing	-175	2,338	-127	-596	-188	1,276	-1,959	-77.5	78.8	-75.4
Debt issued	1,190	0	431	600	744	0	1,587	295	1,091	0
Debt repaid	-559	-2,611	-483	-476	-590	-30.6	-971	-325	-1,529	-34.8
Stock issued	8.3	0.7	1.3	0.9	0	0
Share buybacks	0	-192	-400	0	-164	0	0
Dividends paid	-83.2	-91.1	-105	-112	-124	-130	-142	-150	-153	-159
Cash from financing	-269	-3,005	-572	1.8	-181	-179	422	-187	-611	-221
Exchange rate effect	-6.7	24.1	-21.9	9.7	19.9	-15.6	-48.9	9.8	-23.2
Net change in cash	205	56.4	-128	-197	287	1,238	-1,279	151	-193	-24.9
Free cash flow	549	610	490	250	466	4.2	211	304	245	145
Interest paid	205	188	134	137	146	133	217	277	251	202
Income taxes paid	140	187	144	136	81.2	448	100	96.8	153	78.7

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 27, 2026; growth uses fiscal years. Valuation uses the share price of $15.42 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	33.3%	Gross profit / revenue.
Operating margin	-37.7%	Operating income / revenue.
EBITDA margin	-30.6%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-38.9%	Pre-tax income / revenue.
Net margin	-41.9%	Net income / revenue.
FCF margin	2.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	4.7%	Cash from operations / revenue.
Return on equity (ROE)	-69.0%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-22.8%	Net income / average total assets.
Return on invested capital (ROIC)	-22.8%	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	2.3%	Research and development expense / revenue.
Stock-based pay / revenue	1.1%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.9%	Capital expenditures / revenue.
D&A / revenue	7.1%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	-2.8%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	-1.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	0.8%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	-3.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	0.9%	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	-0.0%	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	-1,094.0%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-278.8%	EBITDA vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-34.3%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-8.1%	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	-17.8%	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	-40.7%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-11.7%	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	-20.8%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Dividend per share growth, 1y	5.5%	Dividend per share vs the same period a year earlier. Only from a positive base.
Dividend per share CAGR, 3y	3.7%	Compound annual growth of dividend per share over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Dividend per share CAGR, 5y	5.2%	Compound annual growth of dividend per share over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-32.0%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	-15.4%	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	-12.3%	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	-11.5%	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	-5.8%	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	0.8%	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	0.2%	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	2.32x	Current assets / current liabilities.
Quick ratio	1.05x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.38x	(Cash + short-term investments) / current liabilities.
Debt / equity	1.31x	Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets	43.3%	Total debt / total assets.
Liabilities / assets	66.9%	Total liabilities / total assets.
Net debt	$2.90B	Total debt - cash - short-term investments. Negative means more cash than debt.
Working capital	$1.40B	Current assets - current liabilities.
Goodwill and intangibles / assets	82.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.72B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.54x	Revenue / average total assets.
Fixed asset turnover	4.88x	Revenue / average property, plant and equipment.
Inventory turnover	2.60x	Cost of revenue / average inventory.
Days inventory	140 days	365 x average inventory / cost of revenue.
Receivables turnover	5.84x	Revenue / average receivables.
Days sales outstanding	63 days	365 x average receivables / revenue.
Days payables	53 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	150 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	39.2%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$12.43	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	$29.69	Revenue / diluted weighted shares.
FCF per share	$0.85	Free cash flow / diluted weighted shares.
Operating cash flow per share	$1.40	Cash from operations / diluted weighted shares.
Book value per share	$18.14	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$26.85	Tangible book value / shares outstanding.
Cash per share	$2.88	(Cash + short-term investments) / shares outstanding.
Dividends / FCF	134.0%	Dividends paid / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$2.14B	Share price x shares outstanding.
Enterprise value	$5.03B	Market cap + total debt - cash - short-term investments.
P/S	0.52x	Market cap / revenue.
P/B	0.85x	Market cap / shareholders' equity. Only when equity is positive.
P/FCF	17.9x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	10.9x	Market cap / cash from operations, when positive.
EV/Sales	1.21x	Enterprise value / revenue.
EV/FCF	42.2x	Enterprise value / free cash flow, when both are positive.
FCF yield	5.6%	Free cash flow / market cap.
Earnings yield	-81.1%	Net income / market cap (the inverse of P/E).
Dividend yield	7.5%	Dividends paid over the period / market cap.
Shareholder yield	7.5%	(Dividends paid + share buybacks) / market cap.

What was PERRIGO Co plc's revenue in fiscal 2025?

PERRIGO Co plc reported revenue of $4.25B for fiscal 2025, 2.8% lower than the year before.

Was PERRIGO Co plc profitable in fiscal 2025?

No. It reported a net loss of $1.43B.

How much free cash flow did PERRIGO Co plc generate in fiscal 2025?

Cash from operations of $238.5M minus capital expenditures of $93.4M left free cash flow of $145.1M.

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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