A Business at a Glance
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NEKTAR THERAPEUTICS
NKTR
$1.2B
Mkt Cap
$70.72
+1.97%
NEKTAR THERAPEUTICS (NKTR) has a 5-year average return on invested capital (ROIC) of -80.9%. This is below average and may indicate limited pricing power.
NEKTAR THERAPEUTICS (NKTR) has a market capitalization of $1.4B. It is classified as a small-cap stock.
NEKTAR THERAPEUTICS (NKTR) does not currently pay a regular dividend.
NEKTAR THERAPEUTICS (NKTR) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
NEKTAR THERAPEUTICS (NKTR) generated $-209 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
NEKTAR THERAPEUTICS (NKTR) has a debt-to-equity ratio of 0.95. This indicates moderate leverage.
NEKTAR THERAPEUTICS (NKTR) reported earnings per share (EPS) of $-9.73 in its most recent fiscal year.
Nektar Therapeutics (Nektar, we) is a clinical stage, research-based drug discovery biopharmaceutical company focused on discovering and developing innovative medicines in the field of immunotherapy. Within this growing field, we direct our efforts toward creating new immunomodulatory agents that selectively induce, amplify, attenuate or prevent immune responses in order to achieve desired therapeutic outcomes. We apply our deep understanding of immunology to identify and create innovative drug candidates and use our drug development expertise to advance these molecules through preclinical and clinical development. Our pipeline of clinical-stage and preclinical-stage immunomodulatory agents targets the treatment of autoimmune diseases (e.g. rezpegaldesleukin and NKTR-0165, respectively) and cancer (e.g. NKTR-255).
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 56M | - | 98M | - | - | - |
| Net Income | -158M | -164M | -119M | -276M | -368M | -524M |
| EPS | $-9.12 | $-9.73 | $-86.80 | $-14.50 | $-19.70 | $-28.60 |
| Free Cash Flow | -204M | -209M | -177M | -193M | -310M | -428M |
| ROIC | -13.9% | -39.5% | -124.1% | -110.9% | -70.4% | -59.6% |
| Gross Margin | - | - | 68.8% | - | - | - |
| Debt/Equity | 0.00 | 0.95 | 1.69 | 0.90 | 0.36 | 0.21 |
| Dividends/Share | $0.00 | $0.00 | - | - | - | - |
| Operating Income | -135M | -140M | -105M | -264M | -376M | -446M |
| Operating Margin | -242.0% | - | -106.9% | - | - | - |
| ROE | -27.4% | -217.9% | -124.1% | -110.9% | -70.4% | -59.6% |
| Shares Outstanding | 20M | 17M | 1M | 19M | 19M | 18M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 201M | 231M | 165M | 308M | 1.2B | N/A | N/A | N/A | N/A | N/A | 98M | N/A | 56M |
| Gross Margin | 85.8% | 75.9% | 79.2% | 90.1% | 98.0% | N/A | N/A | N/A | N/A | N/A | 68.8% | N/A | N/A |
| R&D | 148M | 183M | 204M | 268M | 400M | 435M | 409M | 400M | 218M | 114M | 121M | 117M | 123M |
| SG&A | 41M | 43M | 44M | 52M | 81M | 99M | 105M | 123M | 92M | 77M | 77M | 69M | 58M |
| EBIT | -16M | -29M | -113M | -60M | 688M | -440M | -425M | -446M | -376M | -264M | -105M | -140M | -135M |
| Op. Margin | -8.2% | -12.7% | -68.2% | -19.4% | 57.6% | N/A | N/A | N/A | N/A | N/A | -106.9% | N/A | -242.0% |
| Net Income | -54M | -81M | -154M | -97M | 681M | -441M | -444M | -524M | -368M | -276M | -119M | -164M | -158M |
| Net Margin | -26.9% | -35.2% | -92.8% | -31.4% | 57.1% | N/A | N/A | N/A | N/A | N/A | -120.9% | N/A | -284.2% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 139M | 127M | 16M | 19M | 10.0M |
| Returns on Capital | |||||||||||||
| ROIC | -3.8% | -39.7% | -53.0% | -29.1% | 31.9% | -26.2% | -35.8% | -59.6% | -70.4% | -110.9% | -124.1% | -39.5% | -13.9% |
| ROE | 201.3% | -379.7% | -324.7% | -109.9% | 75.5% | -28.2% | -35.8% | -59.6% | -70.4% | -110.9% | -124.1% | -217.9% | -27.4% |
| ROA | -12.3% | -17.3% | -28.8% | -17.9% | 51.2% | -21.4% | -25.3% | -39.4% | -40.3% | -49.8% | -33.9% | -56.2% | -20.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -142M | -73M | -117M | -80M | 718M | -329M | -313M | -413M | -304M | -193M | -176M | -209M | -204M |
| Free Cash Flow | -152M | -84M | -123M | -90M | 704M | -355M | -321M | -428M | -310M | -193M | -177M | -209M | -204M |
| Owner Earnings | -172M | -117M | -151M | -153M | 648M | -439M | -420M | -459M | -374M | -233M | -201M | -222M | -209M |
| CapEx | 10.0M | 11M | 6.4M | 9.7M | 14M | 26M | 7.3M | 15M | 5.7M | 865K | 1.5M | 171K | 187K |
| Maint. CapEx | 13M | 11M | 13M | 13M | 8.8M | 11M | 13M | 13M | 12M | 7.0M | 4.1M | 1.0M | 751K |
| Growth CapEx | 0 | 0 | 0 | 0 | 5.4M | 15M | 0 | 2.0M | 0 | 0 | 0 | 0 | 0 |
| D&A | 13M | 11M | 13M | 13M | 8.8M | 11M | 13M | 13M | 12M | 7.0M | 4.1M | 1.0M | 751K |
| CapEx/OCF | N/A | N/A | N/A | N/A | 2.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| 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 | 3.0M | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 1.5% | 0.0% | 0.0% |
| Stock-Based Comp | 17M | 32M | 20M | 60M | 62M | 100M | 94M | 33M | 57M | 33M | 22M | 13M | 4.9M |
| Debt Repayment | 0 | 13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -113M | -67M | -146M | -51M | -1.7B | -1.2B | -1.1B | -645M | -384M | -212M | -171M | -146M | -844M |
| Cash & Equiv. | 12M | 56M | 60M | 4.8M | 195M | 96M | 199M | 25M | 88M | 35M | 44M | 15M | 844M |
| Long-Term Debt | 125M | 242M | 243M | 245M | 247M | 0 | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt/Equity | 3.44 | 37.60 | 2.76 | 2.79 | 0.14 | 0.29 | 0.14 | 0.21 | 0.36 | 0.90 | 1.69 | 0.95 | 0.00 |
| Interest Coverage | -0.9 | -1.6 | -5.0 | -2.7 | 31.9 | -20.6 | -62.1 | N/A | N/A | N/A | N/A | N/A | N/A |
| Equity | 36M | 6.4M | 88M | 88M | 1.7B | 1.4B | 1.1B | 680M | 367M | 131M | 61M | 90M | 576M |
| Total Assets | 442M | 499M | 569M | 509M | 2.2B | 2.0B | 1.5B | 1.1B | 711M | 398M | 304M | 280M | 763M |
| Total Liabilities | 405M | 492M | 481M | 421M | 433M | 572M | 461M | 438M | 344M | 267M | 243M | 191M | 187M |
| Intangibles | 77M | 77M | 77M | 77M | 77M | 77M | 77M | 77M | 77M | N/A | N/A | 0 | 0 |
| Retained Earnings | -1.8B | -1.9B | -2.0B | -2.1B | -1.4B | -1.9B | -2.3B | -2.8B | -3.2B | -3.5B | -3.6B | -3.8B | -3.8B |
| Working Capital | 224M | 289M | 354M | 271M | 1.4B | 1.1B | 1.0B | 710M | 478M | 279M | 200M | 213M | 531M |
| Current Assets | 288M | 350M | 426M | 327M | 1.4B | 1.4B | 1.1B | 796M | 546M | 331M | 261M | 266M | 589M |
| Current Liabilities | 64M | 61M | 72M | 56M | 82M | 354M | 116M | 85M | 68M | 51M | 61M | 54M | 58M |
| Per Share Data | |||||||||||||
| EPS | -4.20 | -6.10 | -11.00 | -6.20 | 37.80 | -25.20 | -24.90 | -28.60 | -19.70 | -14.50 | -86.80 | -9.73 | -9.12 |
| Owner EPS | -13.39 | -8.77 | -10.78 | -9.78 | 35.93 | -25.13 | -23.53 | -25.05 | -19.99 | -12.24 | -146.97 | -13.18 | -10.28 |
| Book Value | 2.83 | 0.48 | 6.31 | 5.63 | 95.29 | 80.37 | 60.36 | 37.10 | 19.62 | 6.88 | 44.32 | 5.33 | 28.28 |
| Cash Flow/Share | -11.06 | -5.49 | -8.38 | -5.16 | 39.85 | -18.80 | -17.55 | -22.53 | -16.27 | -10.12 | -128.21 | -12.37 | -7.72 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 | 0.00 |
| Shares Out. | 12.8M | 13.3M | 14.0M | 15.6M | 18.0M | 17.5M | 17.8M | 18.3M | 18.7M | 19.0M | 1.4M | 16.9M | 20.4M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | 8.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -7.8 |
| P/FCF | N/A | N/A | N/A | N/A | 12.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | 8.9 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | 53.8 | 355.2 | 19.3 | 107.4 | 3.5 | 2.7 | 3.1 | 4.1 | 1.1 | 0.8 | 3.2 | N/A | 2.5 |
| Price/Sales | 8.3 | 7.3 | 12.4 | 11.9 | 9.8 | N/A | N/A | N/A | N/A | N/A | 2.4 | N/A | 25.9 |
| FCF Yield | -7.8% | -3.7% | -7.3% | -1.0% | 11.6% | -9.4% | -9.6% | -15.5% | -80.0% | -184.8% | -90.9% | N/A | -14.2% |
| Market Cap | 2.0B | 2.3B | 1.7B | 9.4B | 6.1B | 3.8B | 3.3B | 2.8B | 387M | 105M | 195M | 0 | 1.4B |
| Avg. Price | 194.47 | 189.63 | 220.22 | 350.86 | 974.20 | 437.03 | 298.97 | 261.45 | 81.93 | 14.73 | 17.11 | 0.00 | 70.72 |
| Year-End Price | 228.45 | 257.40 | 182.70 | 907.50 | 504.30 | 323.55 | 280.05 | 225.60 | 31.05 | 8.25 | 14.25 | 0.00 | 70.72 |
NEKTAR THERAPEUTICS passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 68.8%. At current prices, the estimated annualized return to fair value is +10.6%.
NEKTAR THERAPEUTICS (NKTR) has a return on equity (ROE) of -217.9%. A negative ROE may indicate losses or negative equity.
NEKTAR THERAPEUTICS (NKTR) has a 5-year average gross margin of 68.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for NEKTAR THERAPEUTICS (NKTR), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
NEKTAR THERAPEUTICS (NKTR) has a book value per share of $5.33, based on its most recent annual SEC filing.