Ultragenyx Pharmaceutical Inc. financial statements
Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Ultragenyx Pharmaceutical 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
0.13
2.61
51.5
104
271
351
363
434
560
673
Cost of revenue
0
1.15
Gross profit
2.61
50.3
Research and development
183
232
294
357
412
497
706
648
698
750
Selling, general and administrative
64.9
99.9
128
162
183
220
278
310
321
349
General and administrative
64.9
Operating expenses
248
332
423
528
601
Operating income
-248
-329
-371
-424
-330
-382
-649
-569
-536
-535
Interest income
3.79
4.07
9.54
13.2
7.04
1.93
11.1
27
37
25
Other non-operating income
2.17
6.53
-5.59
-0.79
0.61
-1.69
-1.57
-1
-5
1
Pre-tax income
-246
-318
-197
-399
-185
-453
-702
-609
-567
-571
Income tax
0.04
-16.2
0.51
3.28
1.21
1.04
5.7
-2
2
4
Net income
-246
-302
-198
-403
-187
-454
-707
-607
-569
-575
EBITDA
-245
-323
-352
-416
-318
-368
-631
-543
-500
-500
EPS, basic
-6.21
-7.12
-3.97
-7.12
-3.07
-6.70
-10.12
-8.25
-6.29
-5.83
EPS, diluted
-6.21
-7.12
-3.97
-7.12
-3.07
-6.70
-10.12
-8.25
-6.29
-5.83
Shares, basic (weighted)
39.6
42.5
49.8
56.6
60.8
67.8
69.9
73.5
90.5
98.6
Shares, diluted (weighted)
39.6
42.5
49.8
56.6
60.8
67.8
69.9
73.5
90.5
98.6
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
161
100
113
434
714
308
133
214
174
421
Short-term investments
219
134
346
322
488
433
615
364
436
259
Receivables
5.17
12.7
32.8
23.1
28.4
40.4
73.4
122
158
Inventory
0.76
7.07
11.5
13
16.2
26.8
34
45
52
Other current assets
20.1
29.2
42.9
51.4
57.6
71.7
68.9
47.6
40
61
Total current assets
402
270
522
851
1,295
857
884
732
817
951
Property, plant and equipment
17.1
21.8
20
44.3
73.5
141
260
291
266
244
Lease right-of-use assets
30.3
40.5
34.9
26
23.9
26
23
Goodwill
44.4
44.4
44.4
44.4
44.4
44.4
44.4
44
44
Intangible assets
142
129
129
131
131
160
166
178
176
Long-term investments
118
9.98
5.17
10.5
259
149
200
135
57
Other non-current assets
1.84
3.41
3.51
3.47
8.81
20.6
48.3
57.7
63
60
Total assets
541
491
720
1,135
1,760
1,522
1,545
1,491
1,503
1,532
Accounts payable
5.36
8.89
12.3
12.9
12.9
17.1
43.3
42.1
39
31
Accrued liabilities
54.6
62.1
62.5
83.2
108
146
205
196
241
265
Deferred revenue
5.99
66.6
9.08
Total current liabilities
60.3
71
74.7
103
190
181
261
280
344
384
Lease liabilities
29.8
38.6
30.5
19.8
30.6
30
24
Other non-current liabilities
6.39
5.12
4.76
7.35
1.01
4.82
12.2
17
44
Total liabilities
66.7
107
111
482
605
600
1,193
1,216
1,241
1,605
Paid-in capital
1,004
1,222
1,640
2,087
2,773
2,997
3,140
3,662
4,213
4,451
Retained earnings
-531
-833
-1,030
-1,433
-1,620
-2,074
-2,781
-3,388
-3,957
-4,532
Treasury stock
0
-0.43
-4
-8
Other comprehensive income
0.91
-5.68
-0.63
-0.15
0.69
-1.4
-6.57
0.65
-1
1
Shareholders' equity
474
383
609
654
1,154
923
352
275
255
-80
Total equity
474
383
609
654
1,154
923
352
275
255
-80
Total liabilities and equity
541
491
720
1,135
1,760
1,522
1,545
1,491
1,503
1,532
Shares outstanding
41.2
44.2
50.9
57.8
66.8
69.3
70.2
82.3
92.5
96.6
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-246
-302
-198
-403
-187
-454
-707
-607
-569
-575
Depreciation and amortization
3.42
5.83
19.5
8.54
12.3
13.2
18.2
26
36
35
Stock-based compensation
48.3
68
80.1
82
85.7
105
130
135
158
153
Deferred income tax
-16.2
2.14
1.64
-2
-1
Change in receivables
-5.17
-7.58
-20.1
9.84
-5.43
-12.1
-23
-34
-31
Change in inventory
-0.76
-5.28
-4.45
-1.35
-3.12
-9.7
-7
-11
-6
Change in payables
2.5
3.46
3.37
Cash from operations
-161
-254
-291
-345
-132
-339
-380
-475
-414
-466
Capital expenditures
-10.2
-2.79
-4.08
-24.8
-43.9
-73.1
-116
-44
-7
-6
Acquisitions
-143
0
0
-75
0
0
Purchases of investments
-510
-693
-813
-1,012
-615
-526
-409
-186
Sales and maturities of investments
403
274
303
676
590
718
451
696
410
444
Cash from investing
91.1
55.5
-33.3
-13
-179
-195
-292
168
-18
236
Stock issued
9
7.8
271
330
436
0
0
3
6
0
Cash from financing
139
136
337
679
600
119
501
388
399
478
Net change in cash
68.8
-61.6
12.5
321
290
-417
-172
81
-35
252
Free cash flow
-171
-257
-295
-370
-176
-412
-497
-519
-421
-472
Income taxes paid
4
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 $14.50 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-73.6%
Operating income / revenue.
EBITDA margin
-69.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-81.2%
Pre-tax income / revenue.
Net margin
-81.7%
Net income / revenue.
FCF margin
-68.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-67.6%
Cash from operations / revenue.
Return on assets (ROA)
-46.4%
Net income / average total assets.
R&D / revenue
107.9%
Research and development expense / revenue.
SG&A / revenue
48.9%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
15.1%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.6%
Capital expenditures / revenue.
D&A / revenue
4.6%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
20.2%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
22.8%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
19.9%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-131.4%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
1.9%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-0.3%
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
-2.7%
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
9.0%
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
12.1%
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
10.1%
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
1.73x
Current assets / current liabilities.
Quick ratio
1.40x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.83x
(Cash + short-term investments) / current liabilities.
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
$7.04
Revenue / diluted weighted shares.
FCF per share
-$4.80
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$4.76
Cash from operations / diluted weighted shares.
Book value per share
-$2.95
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.99x
Market cap / revenue.
EV/Sales
1.59x
Enterprise value / revenue.
FCF yield
-34.2%
Free cash flow / market cap.
Earnings yield
-41.0%
Net income / market cap (the inverse of P/E).
What was Ultragenyx Pharmaceutical Inc.'s revenue in fiscal 2025?
Ultragenyx Pharmaceutical Inc. reported revenue of $673.0M for fiscal 2025, 20.2% higher than the year before.
Was Ultragenyx Pharmaceutical Inc. profitable in fiscal 2025?
No. It reported a net loss of $575.0M.
How much free cash flow did Ultragenyx Pharmaceutical Inc. generate in fiscal 2025?
Cash from operations of $466.0M minus capital expenditures of $6.0M left free cash flow of -$472.0M.
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.