SUPERNUS PHARMACEUTICALS, INC. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data SUPERNUS 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

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2024	FY2024	FY2025
Revenue	215	302	409	393	520	580	667	608	662	719
Cost of revenue	12	15.2	15.4	16.7	52.5	75.1	87.2	83.8	77.9	74.6
Gross profit	203	287	394	376	468	505	580	524	584	644
Research and development	42.8	49.6	89.2	69.1	76	90.5	74.6	91.6	109	106
Selling, general and administrative	106	138	155	153	201	305	377	336	322	486
Operating income	54.2	99.5	144	149	174	86	46.1	-5.27	81.7	-62.3
Interest expense	0.54	0.13	13.8	18.2	19.4	19.7	7.07	2.42	0	0
Interest income	1.47	2.86	13.8	21.6	18.7
Other non-operating income	-3.85	1.08	-4.27	-1.08	-5.05	-12.9	14.6	8.04	16.2	13.3
Pre-tax income	50.4	101	140	147	169	73.2	60.7	2.77	97.9	-49
Income tax	-40.9	43.3	29.2	34.4	41.7	19.8	0.03	1.45	24	-10.5
Net income	91.2	57.3	111	113	127	53.4	60.7	1.32	73.9	-38.6
EBITDA	56.6	108	152	155	192	119	132	79.6	162	29.3
EPS, basic	1.84	1.13	2.13	2.16	2.41	1.01	1.13	0.02	1.34	-0.68
EPS, diluted	1.76	1.08	2.05	2.10	2.36	0.98	1.04	0.02	1.32	-0.68
Shares, basic (weighted)	49.5	50.8	52	52.4	52.6	53.1	53.7	54.5	55.1	56.5
Shares, diluted (weighted)	51.7	53.3	54.1	53.8	53.7	54.4	61.7	55.5	56	56.5

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2024	FY2024	FY2025
Cash and equivalents	66.4	100	192	181	289	203	93.1	75.1	69.3	128
Short-term investments	23.7	39.7	164	166	134	136	368
Receivables	41.5	65.6	103	87.3	141	149	165	144	142	188
Inventory	16.8	16.3	25.7	26.6	48.3	86	91.5	77.4	54.3	112
Other current assets	2.96	6.52	8.89	11.6	18.7	27	15.8	16.7	36.1	65.3
Total current assets	151	228	493	473	630	602	734	493	686	644
Property, plant and equipment	4.34	5.12	4.1	17.1	37.8	17	15.2	13.5	11.5	10.5
Lease right-of-use assets				21.3	20.2	35.4	28.9	29	24.5	26.7
Goodwill				0	77.9	118	117	117	117	125
Intangible assets	36.4	36	31.4	24.8	364	785	702	600	522	569
Long-term investments	75.4	134	419	592	350	119	93.9
Other non-current assets	0.33	0.39	0.38	21.9	43.2	49.2	39.8	37.5	31.5	63.8
Total assets	310	424	978	1,160	1,504	1,689	1,703	1,278	1,368	1,453
Accounts payable	8.06	6.84	3.2	10.1	6.15	9.33	10.5	1.96	4.59	2.68
Accrued liabilities	27.4	27.3	36.5	49.7	78.9	118	96.3	79.6	76.4	108
Deferred revenue		0.29
Short-term debt						0
Total current liabilities	80.7	123	161	161	245	315	688	290	292	338
Long-term debt						379
Lease liabilities				30.4	28.6	41.3	36	33.2	27.4	30.4
Other non-current liabilities	4	10.6	11.4	28.7	42.8	16.4	8.69	6.42	7.6	22.2
Total liabilities	118	157	525	565	759	873	816	356	332	391
Total debt						379
Paid-in capital	276	295	370	388	409	434	408	439	479	544
Retained earnings	-84.3	-26.8	86.5	200	326	380	481	483	556	518
Other comprehensive income	-0.13	-0.75	-3.16	7.42	8.98	1.54	-3.21	-0.59	-0.19	-0.04
Shareholders' equity	192	267	453	595	745	816	886	922	1,036	1,062
Total equity	192	267	453	595	745	816	886	922	1,036	1,062
Total liabilities and equity	310	424	978	1,160	1,504	1,689	1,703	1,278	1,368	1,453
Shares outstanding	50	51.3	52.3	52.5	52.9	53.3	54.3	54.7	55.7	57.5

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2024	FY2024	FY2025
Net income	91.2	57.3	111	113	127	53.4	60.7	1.32	73.9	-38.6
Depreciation and amortization	2.4	8.13	7.06	6.66	18.1	32.6	85.5	84.9	80.4	91.6
Stock-based compensation	5.93	8.43	11.3	14.8	16.6	17.9	17.6	26.8	27.8	33.1
Deferred income tax	-41.8	21.2	-4.17	-5.83	0.57	-4.99	-26.3	-25.7	-20.1	5.21
Change in receivables	-15.6	-24.1	-35.9	15.8	-34.6	3.87	-16.4	18.8	2.08	-22.3
Change in inventory	-4.21	0.5	-9.36	-0.97	-10.1	-14.6	-17.9	6.11	15.8	-7.5
Change in payables	3.47	-0.62	-3.58	6.96	8.27	18.2	-19.2	-36.3	-15	-24.6
Cash from operations	66.8	115	129	143	138	127	117	111	172	47.3
Capital expenditures	-1.6	-2.03	-0.84	-2.74	-3.45		-0.41	-0.55	-0.73	-1.34
Acquisitions			0	0	-299	-0.95	0	0	0	-293
Purchases of investments	-47.4	-102	-492	-410	-95.9	-312	-407	-102	-688	-476
Sales and maturities of investments	31.8	28.7	79.8	253	378		191	371	499	774
Cash from investing	-36	-86.4	-413	-158	-34.7	-81.9	-217	269	-190	4.11
Stock issued	2.05	5.68	11.6	3.93	4.36	7.1	12.4	6.61	14.9	37.6
Cash from financing	2.05	5.68	376	3.93	3.56	-130	-10.5	-398	12.2	9.13
Net change in cash	32.9	33.9	91.9	-10.9	107	-85.2	-110	-18.1	-5.72	60.6
Free cash flow	65.2	113	128	140	135		116	111	171	46
Interest paid	0.49	0.13	1.34	2.52	2.52	2.52	2.52	1.95	0	0
Income taxes paid		1.59	34.8	51.5	45.4	25.2	16.2	36.6	53.3	16.1

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 $42.66 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	88.1%	Gross profit / revenue.
Operating margin	-15.7%	Operating income / revenue.
EBITDA margin	-9.4%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	-14.9%	Pre-tax income / revenue.
Net margin	-13.2%	Net income / revenue.
FCF margin	2.3%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	2.4%	Cash from operations / revenue.
Return on equity (ROE)	-10.7%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	-7.7%	Net income / average total assets.
Return on invested capital (ROIC)	-12.1%	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	15.2%	Research and development expense / revenue.
SG&A / revenue	67.5%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	6.9%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	0.1%	Capital expenditures / revenue.
D&A / revenue	6.3%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	8.6%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	2.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	6.7%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	10.4%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	3.6%	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	6.6%	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	-176.3%	Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y	-81.9%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-39.4%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	-31.3%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-152.2%	Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y	-151.5%	EPS vs the same period a year earlier. Only from a positive base.
Operating cash flow growth, 1y	-72.5%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	-26.0%	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	-19.3%	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	-73.1%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	-26.6%	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	-19.4%	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	2.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	6.2%	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	7.3%	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	6.2%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	-5.2%	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	-0.7%	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	0.9%	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	-2.9%	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	1.0%	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	2.08x	Current assets / current liabilities.
Quick ratio	1.13x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.52x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	27.8%	Total liabilities / total assets.
Working capital	$376.1M	Current assets - current liabilities.
Goodwill and intangibles / assets	41.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	$442.3M	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.58x	Revenue / average total assets.
Fixed asset turnover	81.4x	Revenue / average property, plant and equipment.
Inventory turnover	0.93x	Cost of revenue / average inventory.
Days inventory	394 days	365 x average inventory / cost of revenue.
Receivables turnover	3.92x	Revenue / average receivables.
Days sales outstanding	93 days	365 x average receivables / revenue.
Days payables	21 days	365 x average accounts payable / cost of revenue.
Cash conversion cycle	467 days	Days inventory + days sales outstanding - days payables.
Capex / operating cash flow	5.6%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	-$1.89	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	$14.30	Revenue / diluted weighted shares.
FCF per share	$0.32	Free cash flow / diluted weighted shares.
Operating cash flow per share	$0.34	Cash from operations / diluted weighted shares.
Book value per share	$17.73	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$7.60	Tangible book value / shares outstanding.
Cash per share	$3.09	(Cash + short-term investments) / shares outstanding.

Valuation

Metric	Value	How it is calculated
Market cap	$2.48B	Share price x shares outstanding.
Enterprise value	$2.30B	Market cap + total debt - cash - short-term investments.
P/S	2.99x	Market cap / revenue.
P/B	2.40x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	5.61x	Market cap / tangible book value, when positive.
P/FCF	132x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	125x	Market cap / cash from operations, when positive.
EV/Sales	2.77x	Enterprise value / revenue.
EV/FCF	122x	Enterprise value / free cash flow, when both are positive.
FCF yield	0.8%	Free cash flow / market cap.
Earnings yield	-4.4%	Net income / market cap (the inverse of P/E).

What was SUPERNUS PHARMACEUTICALS, INC.'s revenue in fiscal 2025?

SUPERNUS PHARMACEUTICALS, INC. reported revenue of $719.0M for fiscal 2025, 8.6% higher than the year before.

Was SUPERNUS PHARMACEUTICALS, INC. profitable in fiscal 2025?

No. It reported a net loss of $38.6M.

How much free cash flow did SUPERNUS PHARMACEUTICALS, INC. generate in fiscal 2025?

Cash from operations of $47.3M minus capital expenditures of $1.3M left free cash flow of $46.0M.

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.

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