Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Sarepta Therapeutics, 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
5.42
155
301
381
540
702
933
1,243
1,902
2,198
Cost of revenue
0.13
25.5
Gross profit
5.29
2,173
Research and development
188
167
402
561
722
771
877
877
805
1,522
Selling, general and administrative
83.7
123
208
285
318
283
451
482
558
492
Operating income
-267
-172
-344
-706
-564
-460
-536
-268
218
-700
Interest expense
1.89
5.8
33.7
30.7
59.9
63.5
-53.2
-22
-18.4
-38.1
Interest income
0.51
1.81
6.81
7.24
2.97
0.35
16.5
36.3
30.6
30.8
Other non-operating income
-0.54
123
-19
-8.32
11.1
40.8
-154
-252
42.7
-2.44
Pre-tax income
-267
-48.6
-363
-714
-553
-419
-690
-520
261
-702
Income tax
2.06
-0.69
1.2
1.06
-0.17
13.5
15.9
25.5
11.2
Net income
-267
-50.7
-362
-715
-554
-419
-703
-536
235
-713
EBITDA
-261
-164
-331
-681
-537
-422
-494
-223
256
-655
EPS, basic
-5.49
-0.86
-5.46
-9.71
-7.11
-5.15
-8.03
-5.80
2.47
-7.13
EPS, diluted
-5.49
-0.86
-5.46
-9.71
-7.11
-5.15
-8.03
-5.80
2.34
-7.13
Shares, basic (weighted)
48.7
58.8
66.3
73.6
78
81.3
87.6
92.4
95.1
100
Shares, diluted (weighted)
48.7
58.8
66.3
73.6
78
81.3
87.6
92.4
108
100
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
122
600
371
835
1,503
2,116
967
428
1,103
801
Short-term investments
195
479
803
290
436
0
1,023
1,248
252
138
Receivables
5.23
29.5
49
90.9
101
153
215
400
602
398
Inventory
12.8
83.6
125
171
232
186
204
323
750
915
Other current assets
26.9
36.5
77.8
81.9
213
149
150
77.7
90.5
172
Total current assets
373
1,229
1,426
1,469
2,485
2,604
2,558
2,579
3,073
2,538
Property, plant and equipment
37.8
43.2
97
130
190
191
180
227
340
345
Lease right-of-use assets
37.9
91.8
45.5
65
130
148
125
Intangible assets
8.08
14.4
11.6
12.5
13.6
14.2
7.58
29.6
26.9
28.9
Long-term investments
10
0
133
1.05
Other non-current assets
3.97
21.8
107
174
204
293
163
137
79.9
156
Total assets
424
1,308
1,642
1,823
2,985
3,148
3,128
3,265
3,963
3,350
Accounts payable
29.7
8.47
33.8
68.1
111
76.7
95.9
165
214
281
Accrued liabilities
31
69
134
186
194
272
419
315
374
360
Deferred revenue
3.3
3.32
3.3
3.3
89.2
89.2
89.2
50.4
130
443
Short-term debt
0
105
0
Total current liabilities
75.4
88.3
174
265
416
453
620
654
732
1,095
Lease liabilities
47.7
80.4
41.5
57.6
141
192
199
Other non-current liabilities
5.95
5.54
15.6
5.05
19.8
11
0.04
3
1.75
1.53
Total liabilities
87.4
519
610
1,005
2,223
2,220
2,743
2,405
2,435
2,209
Total debt
17.7
431
421
564
1,544
1,238
1,137
829
Paid-in capital
1,503
2,007
2,611
3,112
3,610
4,135
4,297
5,305
5,739
6,043
Retained earnings
-1,166
-1,217
-1,579
-2,294
-2,848
-3,207
-3,910
-4,446
-4,211
-4,877
Treasury stock
0
-25.3
Other comprehensive income
-0.12
-0.38
-0.1
0.05
0
-0.02
-1.66
0.92
-0.22
0.27
Shareholders' equity
337
789
1,032
818
762
928
385
859
1,528
1,141
Total equity
337
789
1,032
818
762
928
385
859
1,528
1,141
Total liabilities and equity
424
1,308
1,642
1,823
2,985
3,148
3,128
3,265
3,963
3,350
Shares outstanding
54.8
64.8
71.1
75.2
79.4
87.1
88
93.7
96.9
105
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-267
-50.7
-362
-715
-554
-419
-703
-536
235
-713
Depreciation and amortization
5.61
8.09
12.2
24.5
26.9
38
41.9
44.4
37.7
44.5
Stock-based compensation
30
30.5
50.1
78.6
108
114
233
183
184
123
Deferred income tax
-0.24
-0.38
-0.25
-0.31
-0.61
-0.17
-0.25
-0.36
Change in receivables
-1.25
-24.2
-19.6
-41.8
-10.5
-51.7
-61.6
-186
-202
204
Change in inventory
-12.8
-70.8
-41.8
-45.9
-60.6
-83.8
-50.8
-148
-395
-301
Cash from operations
-246
-232
-389
-456
107
-443
-325
-501
-206
-205
Capital expenditures
-5.34
-12
-61.2
-59.6
-82.2
-38.5
-30.8
-76.1
-137
-102
Acquisitions
-173
Purchases of investments
-195
-590
-1,172
-1,194
-1,334
-30
-1,937
-2,045
-1,100
-44.7
Cash from investing
-90.2
-179
-370
287
-122
495
-1,047
-166
756
69.6
Debt issued
30
246
291
0
0
Debt repaid
-2.6
-0.11
-1.27
Stock issued
365
354
513
365
312
0
0
0
0
20
Share buybacks
0
0
-25
Cash from financing
378
888
530
643
682
562
233
125
125
-168
Net change in cash
42.1
477
-229
473
668
614
-1,140
-542
675
-304
Free cash flow
-251
-244
-450
-516
25.3
-482
-356
-577
-343
-307
Interest paid
1.56
1.91
11.3
8.55
34.4
55.9
44.4
15.9
15.9
14.9
Income taxes paid
5.34
1.55
0.93
2.51
0.58
1.7
15.1
22.6
37.6
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 $18.67 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-7.3%
Operating income / revenue.
EBITDA margin
-5.0%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-6.6%
Pre-tax income / revenue.
Net margin
-6.9%
Net income / revenue.
FCF margin
4.1%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
5.6%
Cash from operations / revenue.
Return on equity (ROE)
-8.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-4.3%
Net income / average total assets.
Return on invested capital (ROIC)
-6.3%
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
40.0%
Research and development expense / revenue.
SG&A / revenue
22.1%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
5.0%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.5%
Capital expenditures / revenue.
D&A / revenue
2.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
15.6%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
33.1%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
32.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y
-420.9%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
-356.2%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
-403.3%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
-404.7%
EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-25.3%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
43.6%
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
8.4%
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
-15.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
2.3%
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
2.3%
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
-7.2%
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
4.6%
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
5.1%
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
4.42x
Current assets / current liabilities.
Quick ratio
2.32x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
1.57x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.55x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
26.6%
Total debt / total assets.
Liabilities / assets
52.1%
Total liabilities / total assets.
Net debt
$59.1M
Total debt - cash - short-term investments. Negative means more cash than debt.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.60
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
$18.73
Revenue / diluted weighted shares.
FCF per share
$0.78
Free cash flow / diluted weighted shares.
Operating cash flow per share
$1.05
Cash from operations / diluted weighted shares.
Book value per share
$14.46
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
1.00x
Market cap / revenue.
P/B
1.29x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.32x
Market cap / tangible book value, when positive.
P/FCF
24.1x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
17.8x
Market cap / cash from operations, when positive.
EV/Sales
1.03x
Enterprise value / revenue.
EV/FCF
24.8x
Enterprise value / free cash flow, when both are positive.
FCF yield
4.2%
Free cash flow / market cap.
Earnings yield
-6.9%
Net income / market cap (the inverse of P/E).
What was Sarepta Therapeutics, Inc.'s revenue in fiscal 2025?
Sarepta Therapeutics, Inc. reported revenue of $2.20B for fiscal 2025, 15.6% higher than the year before.
Was Sarepta Therapeutics, Inc. profitable in fiscal 2025?
No. It reported a net loss of $713.4M.
How much free cash flow did Sarepta Therapeutics, Inc. generate in fiscal 2025?
Cash from operations of $205.5M minus capital expenditures of $102.0M left free cash flow of -$307.5M.
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.