Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data Theravance Biopharma, 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
48.6
15.4
60.4
73.4
71.9
55.3
51.3
57.4
64.4
107
Cost of revenue
2.89
6.03
Gross profit
45.8
9.36
Research and development
142
174
201
219
261
194
63.4
40.6
37.6
37.4
Selling, general and administrative
84.5
95.6
97.1
106
109
99.3
67.1
70.1
69.2
73.7
Selling and marketing
4.3
5.1
Operating expenses
229
276
299
325
369
313
143
113
111
111
Operating income
-180
-260
-239
-252
-298
-258
-92
-56
-46.9
-3.6
Interest expense
1.4
8.55
10.5
31.9
8.55
8.55
6.37
2.35
2.55
2.46
Other non-operating income
1.31
4.79
12
8.4
2.83
1.11
8.55
9.12
4.88
10.2
Pre-tax income
-181
-272
-226
-242
-303
-265
-92.8
-49.3
-44.6
129
Income tax
10.1
13.7
-10.6
-5.22
-8.52
-0.15
0.01
5.92
11.8
23.4
Income from continuing operations
-295
-265
-92.8
-55.2
Net income
-191
-285
-216
-236
-278
-199
872
-55.2
-56.4
106
EBITDA
-177
-256
-236
-249
-294
-254
-89.4
-54.1
-45.3
-2.1
EPS, basic
-4.26
-5.45
-3.99
-4.25
-4.46
-2.87
11.85
-1.00
-1.15
2.10
EPS, diluted
-4.26
-5.45
-3.99
-4.25
-4.46
-2.87
11.85
-1.00
-1.15
2.06
Shares, basic (weighted)
44.7
53.7
55.1
55.6
62.3
69.5
73.6
55.3
48.8
50.3
Shares, diluted (weighted)
44.7
52.4
54
55.6
62.3
69.5
73.6
55.3
48.8
51.5
Balance sheet
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
345
89
378
58.1
81.5
90
298
39.5
37.8
168
Short-term investments
156
260
127
223
211
83.5
29.3
62.9
50.6
148
Receivables
0.65
2.25
0.62
Inventory
12.2
16.8
0
Total current assets
529
379
533
338
393
250
353
134
161
418
Property, plant and equipment
8.46
10.2
13.2
12.6
16.4
13.7
11.9
9.07
7.42
5.9
Lease right-of-use assets
46.6
43.3
39.7
40.1
36.3
28.4
24.4
Long-term investments
91.6
41.6
11.9
4.99
11.1
Other non-current assets
1.89
1.88
1.53
1.59
2.45
3.23
6.9
8.07
12.3
24.9
Total assets
639
441
560
409
469
375
607
382
354
486
Accounts payable
1.73
5.92
9.03
4.76
6.78
3.1
1.55
1.52
2.24
2.57
Accrued liabilities
14
24.1
23.8
28.2
35.2
12.8
10.3
6.44
7.02
12.6
Deferred revenue
0.15
0.13
43.4
31.6
11.5
0.1
0.02
Total current liabilities
49.3
62.6
98.6
112
124
58.6
28.7
24.8
32.1
38.3
Lease liabilities
47.7
47.2
52.7
45.4
45.2
39.1
31.8
Other non-current liabilities
13.1
34.8
24.8
21.3
1.83
2.18
1.66
5.92
1.89
0.31
Total liabilities
289
326
612
633
773
713
166
169
179
189
Total debt
224
454
455
619
616
0
Paid-in capital
863
914
961
1,025
1,223
1,387
1,296
1,122
1,141
1,156
Retained earnings
-512
-798
-1,012
-1,249
-1,527
-1,726
-854
-909
-966
-860
Other comprehensive income
-0.25
-0.73
-0.17
0.15
0.05
-0.02
-0.07
0.01
0.06
Shareholders' equity
350
115
-51.6
-224
-304
-339
442
213
176
297
Total equity
350
115
-51.6
-224
-304
-339
442
213
176
297
Total liabilities and equity
639
441
560
409
469
375
607
382
354
486
Shares outstanding
52.8
54.4
55.7
57
64.3
74.4
65.2
48.1
49.5
51.1
Cash flow statement
FY2016
FY2017
FY2018
FY2019
FY2020
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-191
-285
-216
-236
-278
-199
872
-55.2
-56.4
106
Depreciation and amortization
3.12
4.03
3.17
3.3
3.3
3.5
2.6
1.9
1.6
1.5
Stock-based compensation
41.2
49.1
51.3
60.5
63
62.1
39.7
25.4
21.4
18.5
Deferred income tax
0
0
3.21
-7.57
-11.5
Change in receivables
1.28
-1.61
1.63
0.62
Change in inventory
-3.18
-7.3
-1.63
Change in payables
-16.4
3.8
3.58
-4.27
3.66
-3.53
-1.61
0.01
0.75
0.33
Cash from operations
-99
-201
-113
-238
-250
-208
-187
-27
-11.5
239
Capital expenditures
-2.14
-2.41
-7.24
-3.18
-6.62
-3.41
-0.57
-2.49
-0.33
-0.04
Purchases of investments
-238
-289
-183
-424
-402
-158
-103
-135
-141
-248
Sales and maturities of investments
0
0
0
19.9
0
71.4
15.8
0
Cash from investing
-148
-56.3
177
-83.1
10.7
124
1,154
-32.7
12.3
-105
Debt issued
222
0
380
Stock issued
253
0
1.39
3.14
140
108
0.1
0.02
Share buybacks
-129
-197
-0.45
Cash from financing
479
1.66
225
1.29
263
91.9
-759
-199
-2.5
-3.25
Net change in cash
232
-256
289
-320
23.4
8.5
208
-259
-1.75
130
Free cash flow
-101
-203
-120
-241
-257
-211
-188
-29.5
-11.9
238
Interest paid
0
7.45
7.48
26.2
24
39
22.2
Income taxes paid
-9.49
4.93
-7.32
0.02
0.01
-4.09
118
0.02
0.11
27.9
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 $17.03 on September 23, 2026.
Profitability
Metric
Value
How it is calculated
Operating margin
-4.0%
Operating income / revenue.
Pre-tax margin
56.5%
Pre-tax income / revenue.
Net margin
51.6%
Net income / revenue.
Operating cash flow margin
51.5%
Cash from operations / revenue.
Effective tax rate
8.7%
Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)
18.6%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
11.5%
Net income / average total assets.
Return on invested capital (ROIC)
-5.5%
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
24.9%
Research and development expense / revenue.
SG&A / revenue
65.9%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
18.7%
Stock-based compensation (from the cash flow statement) / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
66.9%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
27.9%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
8.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income CAGR, 3y
-50.5%
Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 3y
-44.2%
Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value growth, 1y
69.0%
Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y
-12.4%
Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets growth, 1y
37.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-7.2%
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
5.4%
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
-11.2%
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
-3.7%
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
13.5x
Current assets / current liabilities.
Quick ratio
12.6x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
12.6x
(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
$2.02
Revenue / diluted weighted shares.
Operating cash flow per share
$1.04
Cash from operations / diluted weighted shares.
Book value per share
$5.58
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/E
16.4x
Market cap / net income. Only when net income is positive.
P/S
8.48x
Market cap / revenue.
P/B
3.05x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
3.05x
Market cap / tangible book value, when positive.
P/OCF
16.5x
Market cap / cash from operations, when positive.
EV/Sales
4.76x
Enterprise value / revenue.
Earnings yield
6.1%
Net income / market cap (the inverse of P/E).
What was Theravance Biopharma, Inc.'s revenue in fiscal 2025?
Theravance Biopharma, Inc. reported revenue of $107.5M for fiscal 2025, 66.9% higher than the year before.
Was Theravance Biopharma, Inc. profitable in fiscal 2025?
Yes. Net income was $105.9M, a net margin of 98.5%.
How much free cash flow did Theravance Biopharma, Inc. generate in fiscal 2025?
Cash from operations of $238.5M minus capital expenditures of $42.0K left free cash flow of $238.5M.
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.