Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data RHYTHM PHARMACEUTICALS, 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
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
0
0
0
0
0
3.15
23.6
77.4
130
190
Cost of revenue
0.6
2.13
9.3
13.4
19.5
Gross profit
2.56
21.5
68.1
117
170
Research and development
19.6
22.9
50.3
109
90.5
104
109
135
238
167
Selling, general and administrative
6.31
9.52
28.1
36.6
46.1
68.5
92
118
144
195
Operating expenses
25.9
32.4
78.4
146
137
Operating income
-25.9
-32.4
-78.4
-146
-137
-170
-179
-184
-266
-192
Interest expense
5.2
13.9
20.6
20.6
Interest income
0.03
0.57
4.35
5.27
2.58
0.45
Other non-operating income
0.03
-1.3
4.35
5.27
2.58
100
-1.96
0.24
5.25
-4.03
Pre-tax income
-69.6
-181
-184
-260
-196
Income tax
0.56
0.35
0.5
Net income
-29.1
-33.7
-74.1
-141
-134
-69.6
-181
-185
-261
-197
EBITDA
-25.8
-32.2
-78
-145
-136
-169
-178
-183
-265
-192
EPS, basic
-2.85
-2.83
-2.39
-3.86
-3.04
-1.40
-3.47
-3.20
-4.34
-3.11
EPS, diluted
-2.85
-2.83
-2.39
-3.86
-3.04
-1.40
-3.47
-3.20
-4.34
-3.11
Shares, basic (weighted)
10.2
13.3
31
36.4
44.1
49.6
52.1
57.7
61
65
Shares, diluted (weighted)
10.2
13.3
31
36.4
44.1
49.6
52.1
57.7
61
65
Balance sheet
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
6.54
34.2
49.5
62.3
101
59.2
128
60.1
89.1
54.3
Short-term investments
230
71.9
236
206
216
231
335
Receivables
1.03
6.22
14.9
18.5
26.1
Inventory
0.11
2.92
8.62
18.7
25.8
Other current assets
0.22
1.06
1.34
3.51
3.05
3.99
7.42
6.67
8.8
9.97
Total current assets
11.2
151
259
302
182
308
354
308
374
467
Property, plant and equipment
0.93
0.84
1.12
3.67
3.2
2.81
2.2
1.34
0.63
1.1
Lease right-of-use assets
3.27
2.05
1.81
1.52
1.18
0.78
3.48
3.05
Intangible assets
4.66
7.88
7.03
6.17
5.32
Other non-current assets
16.7
15
7.33
3.29
Total assets
12.3
152
260
309
187
330
382
333
392
480
Accounts payable
1.9
2.43
7.64
10.4
4.9
5.74
4.8
4.89
12.3
13.9
Accrued liabilities
2.66
4.21
5.94
13.5
12.6
30.1
32.9
48.3
62.7
83.9
Deferred revenue
7
1.43
1.29
1.29
0.19
Short-term debt
1.54
7.3
Total current liabilities
4.73
6.72
13.6
24.4
18
43.4
39.8
55.2
116
106
Long-term debt
106
108
101
Lease liabilities
1.95
1.26
0.49
3.94
3.34
Total liabilities
5.04
6.95
14
27.5
20.5
45.4
118
163
228
210
Total debt
106
110
108
Paid-in capital
43.8
255
431
606
626
813
974
1,064
1,177
1,492
Retained earnings
-76.5
-110
-185
-325
-459
-529
-710
-895
-1,155
-1,352
Other comprehensive income
0.05
-0
-0.09
0.13
-0.04
-0.8
Shareholders' equity
-32.7
145
246
281
167
284
264
170
21.7
139
Total equity
-32.7
145
246
281
167
284
264
170
21.7
139
Total liabilities and equity
12.3
152
260
309
187
330
382
333
392
480
Shares outstanding
10.2
27.3
34.4
44
44.2
50.3
56.6
59.4
62.4
67.2
Cash flow statement
FY2017
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-25.9
-33.7
-74.1
-141
-134
-69.6
-181
-185
-261
-197
Depreciation and amortization
0.14
0.22
0.44
0.83
0.69
0.82
0.9
0.9
0.7
0.5
Stock-based compensation
1.17
2.28
6.39
11.9
17.5
20.8
19.8
32.6
39.7
66.8
Deferred income tax
0
0
0
Change in receivables
-1.25
-5.2
-8.64
-3.65
-7.57
Change in inventory
-0.01
-2.81
-5.71
-10.1
-7.47
Change in payables
0.16
1.95
6.95
10.5
-6.45
18.3
1.54
14.8
21.9
21.9
Cash from operations
-23.2
-29.5
-62.1
-123
-122
-146
-173
-136
-114
-116
Capital expenditures
-1.06
-0.13
-0.72
-3.39
-0.21
-0.43
-0.28
-0.05
0
-0.95
Purchases of investments
-15.2
-127
-249
-296
-86.9
-525
-252
-355
-268
-349
Cash from investing
-5.11
-110
-87.1
-28
159
-62.2
28
-5.67
-48.2
-137
Debt issued
72.3
24.4
0
0
Debt repaid
-7.4
-12.9
-19.9
Stock issued
126
163
161
1.49
162
131
48.9
39.1
34
Cash from financing
167
165
163
2.01
166
214
74.4
191
218
Net change in cash
-28.3
27.7
15.5
12.8
38.6
-41.7
68.4
-67.6
29.2
-34.8
Free cash flow
-24.3
-29.6
-62.8
-126
-122
-146
-174
-136
-114
-117
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 $98.66 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
89.0%
Gross profit / revenue.
Operating margin
-83.6%
Operating income / revenue.
Pre-tax margin
-85.1%
Pre-tax income / revenue.
Net margin
-85.6%
Net income / revenue.
Operating cash flow margin
-43.9%
Cash from operations / revenue.
Return on equity (ROE)
-199.4%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-47.0%
Net income / average total assets.
Return on invested capital (ROIC)
-110.5%
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
72.2%
Research and development expense / revenue.
SG&A / revenue
100.4%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
36.4%
Stock-based compensation (from the cash flow statement) / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
45.8%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
100.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit growth, 1y
45.8%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
99.3%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
540.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-19.3%
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
-3.5%
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
22.4%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
7.9%
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
6.5%
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
7.6%
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
8.0%
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
3.45x
Current assets / current liabilities.
Quick ratio
3.00x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
2.68x
(Cash + short-term investments) / current liabilities.
Debt / equity
1.03x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
24.3%
Total debt / total assets.
Liabilities / assets
50.3%
Total liabilities / total assets.
Net debt
-$224.8M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$2.99
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
$3.50
Revenue / diluted weighted shares.
Operating cash flow per share
-$1.54
Cash from operations / diluted weighted shares.
Book value per share
$1.50
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
28.3x
Market cap / revenue.
P/B
66.0x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
69.3x
Market cap / tangible book value, when positive.
EV/Sales
27.4x
Enterprise value / revenue.
Earnings yield
-3.0%
Net income / market cap (the inverse of P/E).
What was RHYTHM PHARMACEUTICALS, INC.'s revenue in fiscal 2025?
RHYTHM PHARMACEUTICALS, INC. reported revenue of $189.8M for fiscal 2025, 45.8% higher than the year before.
Was RHYTHM PHARMACEUTICALS, INC. profitable in fiscal 2025?
No. It reported a net loss of $196.5M.
How much free cash flow did RHYTHM PHARMACEUTICALS, INC. generate in fiscal 2025?
Cash from operations of $115.7M minus capital expenditures of $953.0K left free cash flow of -$116.6M.
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.