A Business at a Glance
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Royalty Pharma plc
RPRX
$25.5B
Mkt Cap
$58.83
-0.32%
Royalty Pharma plc (RPRX) has a current P/E ratio of 33.1, compared to its historical median P/E of 22.0. The stock is currently considered Expensive based on its historical valuation range.
Royalty Pharma plc (RPRX) has a 5-year average return on invested capital (ROIC) of 7.8%. This is below average and may indicate limited pricing power.
Royalty Pharma plc (RPRX) has a market capitalization of $32.8B. It is classified as a large-cap stock.
Royalty Pharma plc (RPRX) does not currently pay a regular dividend. However, the company returns capital to shareholders through share buybacks, with a buyback yield of 1.74%.
Based on historical P/E analysis, Royalty Pharma plc (RPRX) appears expensive. The current P/E of 33.1 is 50% above its historical median of 22.0. The estimated fair value CAGR (P/E method) is 2.2%.
Royalty Pharma plc (RPRX) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Royalty Pharma plc (RPRX) reported annual revenue of $2.4 billion in its most recent fiscal year, based on SEC EDGAR filings.
We are the largest buyer of biopharmaceutical royalties and a leading funder of innovation across the biopharmaceutical industry. Since our founding in 1996, we have been pioneers in the royalty market, collaborating with innovators from academic institutions, research hospitals and not-for-profits through small and mid-cap biotechnology companies to leading global pharmaceutical companies. We have assembled a portfolio of royalties which entitles us to payments based directly on the top-line sales of many of the industry’s leading therapies, which includes royalties on more than 35 commercial products, including Vertex’s Trikafta and Alyftrek, GSK’s Trelegy, Biogen’s Tysabri and Spinraza, Roche’s Evrysdi, Astellas and Pfizer’s Xtandi, Johnson & Johnson’s Tremfya, AbbVie and Johnson & Johnson’s Imbruvica, Servier’s Voranigo, Gilead’s Trodelvy, Amgen’s Imdelltra and Alnylam’s Amvuttra, among others, and 20 development-stage product candidates.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 2.4B | 2.4B | 2.3B | 2.4B | 2.2B | 2.3B |
| Net Income | 827M | 771M | 859M | 1.1B | 43M | 620M |
| EPS | $1.47 | $1.78 | $1.91 | $2.53 | $0.10 | $1.49 |
| Free Cash Flow | 0 | 2.5B | 2.8B | 3.0B | 2.1B | 2.0B |
| ROIC | 19.0% | 9.2% | 8.2% | 9.9% | 2.0% | 9.5% |
| Gross Margin | - | - | 77.6% | 84.1% | 40.5% | 79.2% |
| Debt/Equity | 0.00 | 0.92 | 0.74 | 0.61 | 0.75 | 0.69 |
| Dividends/Share | $0.00 | - | $0.84 | $0.80 | $0.76 | $0.68 |
| Operating Income | 1.6B | 1.6B | 1.3B | 1.5B | 307M | 1.4B |
| Operating Margin | 65.1% | 65.6% | 57.1% | 63.4% | 13.7% | 62.5% |
| ROE | 0.0% | 7.7% | 8.4% | 11.6% | 0.4% | 6.2% |
| Shares Outstanding | 557M | 433M | 450M | 449M | 428M | 416M |
| Metric | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||
| Revenue | 1.8B | 1.8B | 2.1B | 2.3B | 2.2B | 2.4B | 2.3B | 2.4B | 2.4B |
| Gross Margin | N/A | 81.8% | 93.5% | 79.2% | 40.5% | 84.1% | 77.6% | N/A | N/A |
| R&D | 393M | 83M | 26M | 200M | 177M | 52M | 2.0M | 452M | 441M |
| SG&A | 62M | 103M | 182M | 183M | 227M | 250M | 237M | 573M | 622M |
| EBIT | 1.4B | N/A | 1.6B | 1.4B | 307M | 1.5B | 1.3B | 1.6B | 1.6B |
| Op. Margin | 76.0% | N/A | 75.2% | 62.5% | 13.7% | 63.4% | 57.1% | 65.6% | 65.1% |
| Net Income | 1.4B | 2.3B | 495M | 620M | 43M | 1.1B | 859M | 771M | 827M |
| Net Margin | 76.8% | 129.4% | 23.3% | 27.1% | 1.9% | 48.2% | 37.9% | 32.4% | 33.9% |
| Non-Recurring | 0 | 0 | 65M | 0 | 616M | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||
| ROIC | N/A | N/A | 12.1% | 9.5% | 2.0% | 9.9% | 8.2% | 9.2% | 19.0% |
| ROE | N/A | 43.9% | 6.2% | 6.2% | 0.4% | 11.6% | 8.4% | 7.7% | 0.0% |
| ROA | N/A | 37.6% | 3.5% | 3.7% | 0.2% | 6.8% | 5.0% | 4.1% | 4.2% |
| Cash Flow | |||||||||
| Op. Cash Flow | 1.6B | 1.7B | 2.0B | 2.0B | 2.1B | 3.0B | 2.8B | 2.5B | 2.6B |
| Free Cash Flow | 1.6B | 1.7B | 2.0B | 2.0B | 2.1B | 3.0B | 2.8B | 2.5B | 0 |
| Owner Earnings | 1.6B | 1.6B | 2.0B | 2.0B | 2.1B | 3.0B | 2.8B | 2.2B | 2.2B |
| CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Maint. CapEx | 33M | 24M | 23M | 23M | 5.7M | 0 | 0 | 3.9M | 5.0M |
| Growth CapEx | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 |
| D&A | 33M | 24M | 23M | 23M | 5.7M | 0 | 0 | 3.9M | 5.0M |
| CapEx/OCF | N/A | 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 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 4.3M | 0 | 0 | 0 | 305M | 230M | 1.2B | 569M |
| Buyback Yield | 0.0% | N/A | N/A | N/A | N/A | 2.6% | 2.0% | 7.2% | 1.7% |
| Stock-Based Comp | 0 | 0 | 5.4M | 2.4M | 2.2M | 2.4M | 2.3M | 290M | 411M |
| Debt Repayment | 0 | 0 | 11.1B | 0 | 0 | 350M | 13M | 17M | 17M |
| Balance Sheet | |||||||||
| Net Debt | -1.9B | 5.9B | 4.6B | 5.3B | 5.2B | 5.2B | 5.9B | 7.9B | 8.3B |
| Cash & Equiv. | 1.9B | 246M | 1.0B | 1.5B | 1.7B | 477M | 929M | 619M | 608M |
| Long-Term Debt | 0 | 6.0B | 5.8B | 7.1B | 6.1B | 6.1B | 6.6B | 8.6B | 8.6B |
| Debt/Equity | N/A | 1.02 | 0.59 | 0.69 | 0.75 | 0.61 | 0.74 | 0.92 | 0.00 |
| Interest Coverage | 4.9 | N/A | 10.2 | 8.6 | 1.6 | 8.0 | 5.7 | 5.1 | 4.7 |
| Equity | N/A | 6.1B | 9.9B | 10.2B | 9.5B | 10.1B | 10.3B | 9.7B | 0 |
| Total Assets | N/A | 12.4B | 16.0B | 17.5B | 16.8B | 16.4B | 18.2B | 19.6B | 19.8B |
| Total Liabilities | N/A | 6.3B | 6.1B | 7.3B | 7.3B | 6.3B | 7.9B | 9.9B | 9.9B |
| Intangibles | N/A | 52M | 29M | 5.7M | 0 | N/A | N/A | N/A | N/A |
| Retained Earnings | N/A | 2.8B | 1.9B | 2.3B | 2.0B | 2.5B | 2.8B | 2.4B | 2.5B |
| Working Capital | N/A | 499M | 2.4B | 2.7B | 1.4B | 1.1B | 549M | 892M | 890M |
| Current Assets | N/A | 832M | 2.7B | 2.9B | 2.6B | 1.3B | 1.8B | 1.5B | 1.4B |
| Current Liabilities | N/A | 333M | 308M | 171M | 1.2B | 161M | 1.3B | 636M | 536M |
| Per Share Data | |||||||||
| EPS | N/A | N/A | 1.32 | 1.49 | 0.10 | 2.53 | 1.91 | 1.78 | 1.47 |
| Owner EPS | N/A | N/A | 5.35 | 4.79 | 4.99 | 6.66 | 6.15 | 5.07 | 3.94 |
| Book Value | N/A | N/A | 26.38 | 24.64 | 22.24 | 22.48 | 23.00 | 22.43 | 0.00 |
| Cash Flow/Share | N/A | N/A | 5.42 | 4.85 | 5.01 | 6.66 | 6.16 | 5.75 | 1.49 |
| Dividends/Share | N/A | N/A | 0.30 | 0.68 | 0.76 | 0.80 | 0.84 | N/A | 0.00 |
| Shares Out. | N/A | N/A | 375.1M | 415.9M | 428.3M | 448.6M | 449.7M | 433.1M | 556.8M |
| Valuation | |||||||||
| P/E Ratio | N/A | N/A | 33.2 | 24.5 | 361.2 | 10.5 | 13.0 | 22.0 | 40.0 |
| P/FCF | N/A | N/A | 8.1 | 7.5 | 7.2 | 4.0 | 4.0 | 6.8 | N/A |
| EV/EBIT | N/A | N/A | 23.3 | 14.5 | 68.0 | 11.7 | 13.8 | 16.2 | 25.9 |
| Price/Book | N/A | N/A | 6.7 | 2.6 | 2.7 | 1.8 | 1.6 | 2.6 | N/A |
| Price/Sales | N/A | N/A | 13.3 | 6.8 | 7.2 | 5.7 | 5.3 | 6.3 | 13.4 |
| FCF Yield | N/A | N/A | 6.3% | 13.3% | 13.9% | 25.2% | 24.7% | 14.7% | N/A |
| Market Cap | 0 | N/A | 32.4B | 15.2B | 15.5B | 11.9B | 11.2B | 17.0B | 32.8B |
| Avg. Price | 0.00 | N/A | 38.19 | 37.69 | 37.64 | 29.93 | 26.74 | 34.33 | 58.83 |
| Year-End Price | 0.00 | N/A | 43.88 | 36.52 | 36.12 | 26.45 | 24.91 | 39.22 | 58.83 |
Royalty Pharma plc passes 3 of 9 quality checks, indicating weak fundamentals.
Royalty Pharma plc trades at 33.1x trailing earnings, compared to its 15-year median P/E of 22.0x, suggesting it is currently Expensive relative to its historical range. On a free-cash-flow basis, the stock trades at 10.2x vs a median of 7.0x. The company's 5-year average ROIC is 7.8% with a gross margin of 70.3%. Total shareholder yield (buybacks) is 1.7%. At current prices, the estimated annualized return to fair value is +14.9%.
Royalty Pharma plc (RPRX) has a net profit margin of 32.4%. This is a strong margin indicating high profitability.
Royalty Pharma plc (RPRX) generated $2.5 billion in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Royalty Pharma plc (RPRX) has a debt-to-equity ratio of 0.92. This indicates moderate leverage.
Royalty Pharma plc (RPRX) reported earnings per share (EPS) of $1.78 in its most recent fiscal year.
Royalty Pharma plc (RPRX) has a return on equity (ROE) of 7.7%. This indicates moderate shareholder returns.
Royalty Pharma plc (RPRX) has a 5-year average gross margin of 70.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 8 years of financial data for Royalty Pharma plc (RPRX), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Royalty Pharma plc (RPRX) has a book value per share of $22.43, based on its most recent annual SEC filing.