A Business at a Glance
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Alkermes plc.
ALKS
$8.9B
Mkt Cap
$52.89
-0.15%
Alkermes plc. (ALKS) has a current P/E ratio of 37.0, compared to its historical median P/E of 13.6. The stock is currently considered Expensive based on its historical valuation range.
Alkermes plc. (ALKS) has a 5-year average return on invested capital (ROIC) of 35.7%. This indicates strong capital allocation and a potential competitive advantage.
Alkermes plc. (ALKS) has a market capitalization of $8.8B. It is classified as a mid-cap stock.
Alkermes plc. (ALKS) does not currently pay a regular dividend.
Based on historical P/E analysis, Alkermes plc. (ALKS) appears expensive. The current P/E of 37.0 is 172% above its historical median of 13.6. The estimated fair value CAGR (P/E method) is 23.9%.
Alkermes plc. (ALKS) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Alkermes plc. (ALKS) reported annual revenue of $1.5 billion in its most recent fiscal year, based on SEC EDGAR filings.
The following discussion contains forward-looking statements. Actual results may differ significantly from those expressed or implied in the forward-looking statements. See “Cautionary Note Concerning Forward-Looking Statements” on page 3 of this Annual Report. Factors that might cause future results to differ materially from those expressed or implied in the forward-looking statements include, but are not limited to, those discussed in “Item 1A—Risk Factors” and elsewhere in this Annual Report. Alkermes plc is a global biopharmaceutical company that seeks to develop innovative medicines in the field of neuroscience. We have a portfolio of proprietary commercial products for the treatment of alcohol dependence, opioid dependence, schizophrenia, bipolar I disorder and narcolepsy, and a pipeline of clinical and preclinical candidates in development for neurological disorders.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.6B | 1.5B | 1.6B | 1.7B | 1.1B | 1.2B |
| Net Income | 153M | 242M | 367M | 356M | -158M | -48M |
| EPS | $0.93 | $1.43 | $2.17 | $2.10 | $-0.97 | $-0.29 |
| Free Cash Flow | 222M | 480M | 406M | 353M | -17M | 74M |
| ROIC | 5.3% | 21.7% | 50.4% | 60.8% | - | 10.0% |
| Gross Margin | - | 86.7% | 84.2% | 84.8% | 80.4% | 83.2% |
| Debt/Equity | 0.86 | 0.04 | 0.05 | 0.31 | 0.36 | 0.37 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | 192M | 254M | 421M | 414M | - | 98M |
| Operating Margin | 12.3% | 17.2% | 27.0% | 24.9% | - | 8.3% |
| ROE | 8.7% | 14.7% | 27.5% | 31.7% | -14.7% | -4.4% |
| Shares Outstanding | 166M | 169M | 169M | 169M | 163M | 166M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 619M | 628M | 746M | 903M | 1.1B | 1.2B | 1.0B | 1.2B | 1.1B | 1.7B | 1.6B | 1.5B | 1.6B |
| Gross Margin | 71.6% | 77.9% | 82.3% | 82.9% | 83.9% | 84.6% | 82.8% | 83.2% | 80.4% | 84.8% | 84.2% | 86.7% | N/A |
| R&D | 272M | 344M | 387M | 413M | 425M | 513M | 395M | 291M | 273M | 271M | 245M | 324M | 355M |
| SG&A | 200M | 312M | 374M | 422M | 526M | 599M | 539M | 550M | 591M | 690M | 645M | 702M | 794M |
| EBIT | -87M | -224M | -209M | -148M | -99M | -175M | -112M | 98M | N/A | 414M | 421M | 254M | 192M |
| Op. Margin | -14.1% | -35.7% | -28.0% | -16.4% | -9.1% | -15.0% | -10.8% | 8.3% | N/A | 24.9% | 27.0% | 17.2% | 12.3% |
| Net Income | -30M | -227M | -208M | -158M | -139M | -197M | -111M | -48M | -158M | 356M | 367M | 242M | 153M |
| Net Margin | -4.9% | -36.2% | -28.0% | -17.5% | -12.7% | -16.8% | -10.7% | -4.1% | -14.2% | 21.4% | 23.6% | 16.4% | 9.8% |
| Non-Recurring | 40M | 9.6M | 0 | 0 | 8.0M | 13M | 0 | 977K | 0 | 6.0M | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -1.9% | -13.6% | -13.5% | -10.6% | -9.5% | -14.0% | -8.2% | 10.0% | N/A | 60.8% | 50.4% | 21.7% | 5.3% |
| ROE | -2.4% | -16.8% | -16.5% | -13.1% | -11.7% | -17.4% | -10.3% | -4.4% | -14.7% | 31.7% | 27.5% | 14.7% | 8.7% |
| ROA | -1.7% | -12.0% | -11.6% | -9.0% | -7.7% | -10.8% | -5.9% | -2.4% | -7.9% | 17.4% | 17.5% | 10.6% | 3.6% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 11M | -40M | -64M | 19M | 99M | 72M | 83M | 102M | 21M | 401M | 439M | 521M | 256M |
| Free Cash Flow | -23M | -93M | -107M | -32M | 30M | -19M | 41M | 74M | -17M | 353M | 406M | 480M | 222M |
| Owner Earnings | -147M | -223M | -252M | -163M | -110M | -109M | -89M | -65M | -151M | 226M | 314M | 395M | 105M |
| CapEx | 34M | 53M | 44M | 51M | 69M | 91M | 42M | 28M | 38M | 48M | 33M | 40M | 34M |
| Maint. CapEx | 98M | 86M | 94M | 99M | 104M | 80M | 82M | 79M | 78M | 75M | 29M | 27M | 39M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 11M | 0 | 0 | 0 | 0 | 5.0M | 13M | 0 |
| D&A | 98M | 86M | 94M | 99M | 104M | 80M | 82M | 79M | 78M | 75M | 29M | 27M | 39M |
| CapEx/OCF | 302.1% | N/A | N/A | 267.3% | 69.9% | 126.2% | 51.0% | 27.5% | 181.8% | 12.0% | 7.6% | 7.8% | 13.4% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 200M | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 4.0% | N/A | 0.0% |
| Stock-Based Comp | 60M | 97M | 94M | 84M | 105M | 101M | 90M | 88M | 94M | 101M | 97M | 99M | 112M |
| Debt Repayment | 6.8M | 6.8M | 3.4M | 3.0M | 743K | 2.8M | 2.8M | 2.3M | 3.0M | 3.0M | 2.3M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -275M | -185M | -214M | -152M | -260M | -244M | -225M | -120M | -359M | -439M | -747M | -518M | 972M |
| Cash & Equiv. | 224M | 181M | 186M | 191M | 267M | 204M | 273M | 338M | 292M | 457M | 291M | 389M | 538M |
| Long-Term Debt | 349M | 284M | 281M | 278M | 276M | 274M | 272M | 293M | 290M | 288M | 2.3M | N/A | 1.5B |
| Debt/Equity | 0.25 | 0.27 | 0.23 | 0.23 | 0.24 | 0.27 | 0.38 | 0.37 | 0.36 | 0.31 | 0.05 | 0.04 | 0.86 |
| Interest Coverage | -6.5 | -16.9 | -14.0 | -12.3 | -6.4 | -12.9 | -13.0 | 8.7 | N/A | 18.0 | 18.6 | 20.7 | 5.8 |
| Equity | 1.4B | 1.3B | 1.2B | 1.2B | 1.2B | 1.1B | 1.1B | 1.1B | 1.0B | 1.2B | 1.5B | 1.8B | 1.8B |
| Total Assets | 1.9B | 1.9B | 1.7B | 1.8B | 1.8B | 1.8B | 1.9B | 2.0B | 2.0B | 2.1B | 2.1B | 2.5B | 4.3B |
| Total Liabilities | 522M | 541M | 517M | 594M | 654M | 720M | 883M | 912M | 920M | 934M | 591M | 668M | 2.5B |
| Intangibles | 479M | 379M | 318M | 256M | 191M | 151M | 111M | 74M | 38M | 2.0M | 890K | 815K | 1.8B |
| Retained Earnings | -512M | -739M | -948M | -1.0B | -1.2B | -1.4B | -1.5B | -1.5B | -1.7B | -1.3B | -976M | -735M | -801M |
| Working Capital | 746M | 519M | 579M | 518M | 643M | 571M | 673M | 591M | 633M | 965M | 950M | 1.4B | 759M |
| Current Assets | 877M | 755M | 791M | 809M | 983M | 962M | 1.1B | 1.1B | 1.1B | 1.5B | 1.4B | 1.9B | 1.4B |
| Current Liabilities | 131M | 236M | 212M | 291M | 340M | 391M | 438M | 471M | 498M | 520M | 465M | 543M | 599M |
| Per Share Data | |||||||||||||
| EPS | -0.21 | -1.52 | -1.38 | -1.03 | -0.90 | -1.25 | -0.70 | -0.29 | -0.97 | 2.10 | 2.17 | 1.43 | 0.93 |
| Owner EPS | -1.02 | -1.49 | -1.67 | -1.06 | -0.71 | -0.69 | -0.56 | -0.39 | -0.93 | 1.33 | 1.86 | 2.34 | 0.63 |
| Book Value | 9.76 | 8.79 | 8.01 | 7.84 | 7.57 | 6.90 | 6.74 | 6.70 | 6.40 | 7.10 | 8.66 | 10.77 | 10.52 |
| Cash Flow/Share | 0.08 | -0.27 | -0.42 | 0.13 | 0.64 | 0.46 | 0.52 | 0.61 | 0.13 | 2.37 | 2.60 | 3.08 | 1.15 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 143.1M | 149.4M | 151.0M | 153.3M | 154.8M | 157.3M | 158.4M | 166.1M | 163.2M | 169.4M | 169.2M | 169.0M | 166.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 13.3 | 13.6 | 19.9 | 57.0 |
| P/FCF | N/A | N/A | N/A | N/A | 147.7 | N/A | 82.8 | 53.0 | N/A | 13.4 | 12.3 | 10.0 | 39.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 37.5 | N/A | 10.2 | 10.8 | N/A | 50.9 |
| Price/Book | 5.9 | 9.1 | 6.9 | 7.1 | 3.8 | 3.0 | 3.2 | 3.5 | 3.9 | 3.9 | 3.4 | 2.6 | 5.0 |
| Price/Sales | 10.9 | 15.7 | 9.3 | 9.3 | 6.5 | 3.4 | 2.7 | 3.4 | 3.8 | 2.9 | 2.9 | 3.4 | 5.6 |
| FCF Yield | -0.3% | -0.8% | -1.3% | -0.4% | 0.7% | -0.6% | 1.2% | 1.9% | -0.4% | 7.5% | 8.1% | 10.0% | 2.5% |
| Market Cap | 8.3B | 12.0B | 8.3B | 8.5B | 4.4B | 3.2B | 3.4B | 3.9B | 4.1B | 4.7B | 5.0B | 4.8B | 8.8B |
| Avg. Price | 47.18 | 66.14 | 45.80 | 54.83 | 46.13 | 25.49 | 17.63 | 24.32 | 25.81 | 28.17 | 27.07 | 30.11 | 52.89 |
| Year-End Price | 57.72 | 80.14 | 55.19 | 55.39 | 28.49 | 20.43 | 21.25 | 23.51 | 25.26 | 27.88 | 29.55 | 28.49 | 52.89 |
Alkermes plc. passes 5 of 9 quality checks, suggesting mixed fundamentals.
Alkermes plc. trades at 37.0x trailing earnings, compared to its 15-year median P/E of 13.6x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 18.3x vs a median of 13.4x. The company's 5-year average ROIC is 35.7% with a gross margin of 83.9%. At current prices, the estimated annualized return to fair value is +77.7%.
Alkermes plc. (ALKS) has a net profit margin of 16.4%. This is a healthy margin.
Alkermes plc. (ALKS) generated $480 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Alkermes plc. (ALKS) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
Alkermes plc. (ALKS) reported earnings per share (EPS) of $1.43 in its most recent fiscal year.
Alkermes plc. (ALKS) has a return on equity (ROE) of 14.7%. This indicates moderate shareholder returns.
Alkermes plc. (ALKS) has a 5-year average gross margin of 83.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 16 years of financial data for Alkermes plc. (ALKS), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Alkermes plc. (ALKS) has a book value per share of $10.77, based on its most recent annual SEC filing.