A Business at a Glance
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ROCKWELL MEDICAL, INC.
RMTI
$226M
Mkt Cap
$6.63
+1.53%
ROCKWELL MEDICAL, INC. (RMTI) has a 5-year average return on invested capital (ROIC) of -41.9%. This is below average and may indicate limited pricing power.
ROCKWELL MEDICAL, INC. (RMTI) has a market capitalization of $262M. It is classified as a small-cap stock.
ROCKWELL MEDICAL, INC. (RMTI) does not currently pay a regular dividend.
ROCKWELL MEDICAL, INC. (RMTI) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
ROCKWELL MEDICAL, INC. (RMTI) reported annual revenue of $101 million in its most recent fiscal year, based on SEC EDGAR filings.
ROCKWELL MEDICAL, INC. (RMTI) has a net profit margin of -0.5%. The company is currently unprofitable.
ROCKWELL MEDICAL, INC. (RMTI) generated $3 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Unless otherwise indicated in this Annual Report on Form 10-K “we,” “our,” “us,” “the Company,” "Rockwell," “Rockwell Medical,” and other similar terms refer to Rockwell Medical, Inc., together with its consolidated subsidiaries. You are advised to read this Annual Report on Form 10-K in conjunction with other reports and documents that we file from time to time with the Securities and Exchange Commission (“SEC”). In particular, please read our definitive proxy statement, which will be filed with the SEC in connection with our 2025 annual meeting of stockholders, our quarterly reports on Form 10-Q and any current reports on Form 8-K that we may file from time to time. You can access free of charge on our website copies of these reports as soon as practicable after they are electronically filed with the SEC.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 68M | 101M | 84M | 73M | 62M | 62M |
| Net Income | -5.6M | -480K | -8.4M | -19M | -33M | -31M |
| EPS | $-0.15 | $-0.03 | $-0.37 | $-1.31 | $-3.83 | $-4.51 |
| Free Cash Flow | 1.8M | 3.2M | -9.7M | -17M | -34M | -31M |
| ROIC | -33.7% | 3.0% | -28.5% | -86.2% | -297.9% | -56.0% |
| Gross Margin | 17.1% | 17.2% | 10.4% | 5.6% | -3.9% | 4.4% |
| Debt/Equity | 0.25 | 0.30 | 0.44 | 0.69 | 11.02 | 0.61 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -4.8M | 608K | -6.7M | -17M | -30M | -28M |
| Operating Margin | -7.1% | 0.6% | -8.0% | -23.0% | -49.0% | -45.7% |
| ROE | -15.5% | -1.8% | -39.6% | -132.4% | -1288.9% | -90.4% |
| Shares Outstanding | 39M | 34M | 23M | 29M | 9M | 7M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 52M | 54M | 55M | 53M | 57M | 63M | 61M | 62M | 62M | 73M | 84M | 101M | 68M |
| Gross Margin | 12.7% | 15.8% | 16.1% | 12.7% | 6.5% | -2.5% | 4.6% | 4.4% | -3.9% | 5.6% | 10.4% | 17.2% | 17.1% |
| R&D | 39M | 7.8M | 5.0M | 5.8M | 6.3M | 5.6M | 6.9M | 7.1M | 6.8M | 3.1M | 1.1M | 19K | 19K |
| SG&A | 14M | 18M | 19M | 21M | 23M | 23M | 21M | 16M | 15M | 16M | 12M | 14M | 14M |
| EBIT | -47M | -18M | -15M | -20M | -26M | -32M | -35M | -28M | -30M | -17M | -6.7M | 608K | -4.8M |
| Op. Margin | -89.8% | -32.4% | -27.3% | -37.9% | -45.2% | -51.2% | -56.3% | -45.7% | -49.0% | -23.0% | -8.0% | 0.6% | -7.1% |
| Net Income | -49M | -21M | -14M | -20M | -26M | -32M | -34M | -31M | -33M | -19M | -8.4M | -480K | -5.6M |
| Net Margin | -93.1% | -39.4% | -26.1% | -37.2% | -45.2% | -50.7% | -55.7% | -49.7% | -52.8% | -25.7% | -10.1% | -0.5% | -8.2% |
| Non-Recurring | -16K | -7K | 0 | 0 | -11K | -5K | -5K | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | -102.2% | -48.9% | -23.1% | -37.4% | -60.4% | -106.7% | -143.4% | -56.0% | N/M | -86.2% | -28.5% | 3.0% | -33.7% |
| ROE | -8191.5% | -61.6% | -23.1% | -37.4% | -60.4% | -106.7% | -143.4% | -90.4% | -1288.9% | -132.4% | -39.6% | -1.8% | -15.5% |
| ROA | -182.8% | -31.7% | -16.4% | -23.8% | -36.5% | -57.7% | -70.5% | -39.7% | -67.3% | -40.1% | -16.2% | -0.9% | -9.7% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | -51M | 4.3M | -16M | -12M | -21M | -20M | -27M | -30M | -34M | -17M | -9.4M | 4.2M | 2.7M |
| Free Cash Flow | -51M | 3.6M | -17M | -13M | -23M | -21M | -28M | -31M | -34M | -17M | -9.7M | 3.2M | 1.8M |
| Owner Earnings | -58M | -6.8M | -26M | -24M | -29M | -25M | -33M | -31M | -35M | -18M | -12M | 730K | -1.4M |
| CapEx | 654K | 685K | 815K | 355K | 1.7M | 744K | 588K | 1.0M | 522K | 281K | 284K | 1.0M | 904K |
| Maint. CapEx | 1.0M | 996K | 822K | 762K | 514K | 650K | 788K | 834K | 668K | 576K | 1.4M | 2.2M | 2.2M |
| Growth CapEx | 0 | 0 | 0 | 0 | 1.2M | 94K | 0 | 212K | 0 | 0 | 0 | 0 | 0 |
| D&A | 1.0M | 996K | 822K | 762K | 514K | 650K | 788K | 834K | 668K | 576K | 1.4M | 2.2M | 2.2M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 24.1% | 34.0% |
| 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 | 759K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | 0.0% | 0.0% | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 5.8M | 10M | 8.9M | 10M | 7.2M | 4.4M | 5.0M | 475K | 943K | 315K | 932K | 1.3M | 1.9M |
| Debt Repayment | 2K | 21M | 0 | 0 | 0 | 0 | 0 | 0 | 750K | 12M | 2.0M | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -3.7M | -65M | N/A | N/A | N/A | -34M | -22M | -38M | 5.5M | -12M | -1.5M | -12M | -25M |
| Cash & Equiv. | 12M | 66M | 31M | 17M | 8.4M | 23M | 12M | 49M | 13M | 10M | 9.0M | 16M | 34M |
| Long-Term Debt | 18M | N/A | N/A | N/A | N/A | 0 | 0 | 21M | 13M | 7.6M | 8.3M | 8.5M | 8.2M |
| Debt/Equity | 33.96 | 0.31 | 0.41 | 0.57 | 0.79 | 0.00 | 0.20 | 0.61 | 11.02 | 0.69 | 0.44 | 0.30 | 0.25 |
| Interest Coverage | -25.8 | -4.2 | N/A | N/A | -32.8 | -60.6 | -1381.0 | -15.1 | -12.9 | -8.7 | -2.9 | 0.5 | 0.5 |
| Equity | 596K | 69M | 62M | 53M | 33M | 27M | 20M | 34M | 2.5M | 14M | 21M | 33M | 36M |
| Total Assets | 36M | 98M | 88M | 83M | 59M | 53M | 44M | 78M | 49M | 47M | 52M | 59M | 57M |
| Total Liabilities | 36M | 29M | 26M | 30M | 26M | 25M | 24M | 44M | 46M | 33M | 31M | 27M | 22M |
| Intangibles | 500K | 333K | 1.1M | 925K | 4K | N/A | N/A | 921K | 921K | 921K | 12M | 11M | 9.5M |
| Retained Earnings | -159M | -180M | -195M | -214M | -240M | -272M | -307M | -337M | -370M | -389M | -397M | -398M | -405M |
| Working Capital | 14M | 85M | 77M | 68M | 40M | 34M | 25M | 57M | 14M | 18M | 12M | 23M | 27M |
| Current Assets | 32M | 95M | 85M | 79M | 49M | 47M | 37M | 69M | 35M | 35M | 29M | 37M | 37M |
| Current Liabilities | 18M | 9.8M | 8.1M | 10M | 9.1M | 13M | 12M | 13M | 21M | 18M | 17M | 14M | 9.9M |
| Per Share Data | |||||||||||||
| EPS | -8.14 | -2.86 | -3.19 | -4.29 | -2.81 | -3.36 | -3.08 | -4.51 | -3.83 | -1.31 | -0.37 | -0.03 | -0.15 |
| Owner EPS | -9.60 | -0.92 | -5.74 | -5.10 | -3.12 | -2.66 | -2.98 | -4.52 | -4.12 | -0.61 | -0.52 | 0.02 | -0.03 |
| Book Value | 0.10 | 9.21 | 13.79 | 11.47 | 3.56 | 2.85 | 1.83 | 4.99 | 0.30 | 0.48 | 0.93 | 0.96 | 0.91 |
| Cash Flow/Share | -8.45 | 0.57 | -3.59 | -2.70 | -2.28 | -2.13 | -2.46 | -4.33 | -3.93 | -0.58 | -0.41 | 0.12 | -0.09 |
| Dividends/Share | N/A | N/A | 0.00 | 0.00 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 6.0M | 7.5M | 4.5M | 4.6M | 9.2M | 9.6M | 11.1M | 6.8M | 8.5M | 29.3M | 22.8M | 34.1M | 39.5M |
| Valuation | |||||||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -45.1 |
| P/FCF | N/A | 197.7 | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 22.8 | 148.9 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 44.5 | N/A |
| Price/Book | 612.1 | 5.1 | N/A | N/A | 9.1 | 4.8 | 7.0 | 2.1 | 13.7 | 1.0 | 2.1 | 1.1 | 7.3 |
| Price/Sales | N/A | N/A | N/A | N/A | 5.9 | 4.0 | 3.4 | 2.2 | 1.3 | 0.5 | 0.7 | 0.3 | 3.9 |
| FCF Yield | -14.1% | 1.0% | N/A | N/A | -7.6% | -16.1% | -19.4% | -42.4% | -98.1% | -124.4% | -21.8% | 9.3% | 0.7% |
| Market Cap | 365M | 353M | 0 | 0 | 298M | 131M | 143M | 72M | 35M | 14M | 44M | 34M | 262M |
| Avg. Price | 77.40 | 116.43 | 0.00 | 0.00 | 73.74 | 53.02 | 37.93 | 20.24 | 9.53 | 2.40 | 2.41 | 2.20 | 6.63 |
| Year-End Price | 121.66 | 94.71 | 0.00 | 0.00 | 64.57 | 27.39 | 25.85 | 10.56 | 4.07 | 0.97 | 1.95 | 2.14 | 6.63 |
ROCKWELL MEDICAL, INC. passes 1 of 9 quality checks, indicating weak fundamentals.
On a free-cash-flow basis, the stock trades at 33.2x vs a median of 22.8x. The company's 5-year average gross margin is 6.7%. At current prices, the estimated annualized return to fair value is -11.3%.
ROCKWELL MEDICAL, INC. (RMTI) has a debt-to-equity ratio of 0.30. This indicates a conservatively financed balance sheet.
ROCKWELL MEDICAL, INC. (RMTI) reported earnings per share (EPS) of $-0.03 in its most recent fiscal year.
ROCKWELL MEDICAL, INC. (RMTI) has a return on equity (ROE) of -1.8%. A negative ROE may indicate losses or negative equity.
ROCKWELL MEDICAL, INC. (RMTI) has a 5-year average gross margin of 6.7%. This lower margin is typical of capital-intensive or commodity businesses.
The Ledger Terminal provides 16 years of financial data for ROCKWELL MEDICAL, INC. (RMTI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
ROCKWELL MEDICAL, INC. (RMTI) has a book value per share of $0.96, based on its most recent annual SEC filing.