A Business at a Glance
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Vanda Pharmaceuticals Inc.
VNDA
$305M
Mkt Cap
$5.18
-3.36%
Vanda Pharmaceuticals Inc. (VNDA) has a 5-year average return on invested capital (ROIC) of -2.6%. This is below average and may indicate limited pricing power.
Vanda Pharmaceuticals Inc. (VNDA) has a market capitalization of $311M. It is classified as a small-cap stock.
Vanda Pharmaceuticals Inc. (VNDA) does not currently pay a regular dividend.
Vanda Pharmaceuticals Inc. (VNDA) operates in the Pharmaceutical Preparations industry, within the Healthcare sector.
Vanda Pharmaceuticals Inc. (VNDA) reported annual revenue of $216 million in its most recent fiscal year, based on SEC EDGAR filings.
Vanda Pharmaceuticals Inc. (VNDA) has a net profit margin of -102.0%. The company is currently unprofitable.
Vanda Pharmaceuticals Inc. (VNDA) generated $-110 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
Table of Contents SUMMARY OF PRINCIPAL RISK FACTORS This summary briefly lists the principal risks and uncertainties facing our business, which are only a select portion of those risks. A more complete discussion of those risks and uncertainties is set forth in Part I, Item 1A of this Annual Report, entitled Risk Factors. Additional risks not presently known to us or that we currently deem immaterial may also affect us. If any of these risks occur, our business, financial condition or results of operations could be materially and adversely affected. Our business is subject to the following principal risks and uncertainties: Risks Related to our Business and Industry •We are dependent on the commercial success of Fanapt®, HETLIOZ®, PONVORY® and NEREUSTM (our commercial products). •We face generic competition for HETLIOZ®. •Future performance of our commercial products may be impacted by a number of factors including competing products or unanticipated safety issues.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 218M | 216M | 199M | 193M | 254M | 269M |
| Net Income | -240M | -220M | -19M | 2.5M | 6.3M | 33M |
| EPS | $-4.04 | $-3.74 | $-0.33 | $0.04 | $0.11 | $0.58 |
| Free Cash Flow | -127M | -110M | -16M | 12M | 31M | 64M |
| ROIC | -54.1% | -50.5% | -3.5% | 0.5% | 1.6% | 38.8% |
| Gross Margin | - | 94.0% | 94.3% | 92.3% | 90.5% | 90.5% |
| Debt/Equity | 0.03 | 0.04 | 0.02 | 0.02 | 0.02 | 0.02 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -160M | -151M | -41M | -14M | 6.3M | 42M |
| Operating Margin | -73.6% | -70.0% | -20.5% | -7.2% | 2.5% | 15.7% |
| ROE | -85.3% | -50.9% | -3.5% | 0.5% | 1.2% | 6.9% |
| Shares Outstanding | 60M | 59M | 57M | 63M | 57M | 57M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 50M | 110M | 146M | 165M | 193M | 227M | 248M | 269M | 254M | 193M | 199M | 216M | 218M |
| Gross Margin | 96.8% | 78.7% | 76.7% | 89.2% | 89.4% | 89.2% | 90.6% | 90.5% | 90.5% | 92.3% | 94.3% | 94.0% | N/A |
| R&D | 19M | 29M | 29M | 39M | 44M | 49M | 56M | 75M | 86M | 77M | 74M | 109M | 102M |
| SG&A | 85M | 85M | 100M | 124M | 106M | 130M | 141M | 124M | 136M | 113M | 146M | 238M | 256M |
| EBIT | 20M | -40M | -19M | -17M | 22M | 23M | 27M | 42M | 6.3M | -14M | -41M | -151M | -160M |
| Op. Margin | 40.0% | -36.6% | -12.7% | -10.2% | 11.3% | 10.0% | 11.0% | 15.7% | 2.5% | -7.2% | -20.5% | -70.0% | -73.6% |
| Net Income | 20M | -40M | -18M | -16M | 25M | 116M | 23M | 33M | 6.3M | 2.5M | -19M | -220M | -240M |
| Net Margin | 40.2% | -36.3% | -12.3% | -9.4% | 13.1% | 50.9% | 9.4% | 12.3% | 2.5% | 1.3% | -9.5% | -102.0% | -110.0% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | |||||||||||||
| ROIC | 19.6% | -27.1% | -13.6% | -11.9% | 7.8% | 33.7% | 20.3% | 38.8% | 1.6% | 0.5% | -3.5% | -50.5% | -54.1% |
| ROE | 19.7% | -27.1% | -13.6% | -11.9% | 12.4% | 33.7% | 5.4% | 6.9% | 1.2% | 0.5% | -3.5% | -50.9% | -85.3% |
| ROA | 12.8% | -20.7% | -8.5% | -7.5% | 9.4% | 28.3% | 4.6% | 5.9% | 1.0% | 0.4% | -2.9% | -38.5% | -55.3% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 82M | 12M | -8.1M | -2.0M | 30M | 46M | 52M | 64M | 32M | 13M | -16M | -109M | -127M |
| Free Cash Flow | 81M | 9.9M | -9.5M | -3.6M | 30M | 45M | 50M | 64M | 31M | 12M | -16M | -110M | -127M |
| Owner Earnings | 75M | -9.1M | -29M | -15M | 15M | 30M | 36M | 46M | 13M | -4.2M | -36M | -127M | -148M |
| CapEx | 769K | 2.5M | 1.4M | 1.7M | 368K | 1.0M | 1.8M | 552K | 679K | 383K | 490K | 998K | 783K |
| Maint. CapEx | 530K | 14M | 12M | 3.0M | 3.0M | 2.9M | 2.9M | 2.8M | 2.7M | 3.0M | 8.1M | 8.1M | 13M |
| Growth CapEx | 239K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| D&A | 530K | 14M | 12M | 3.0M | 3.0M | 2.9M | 2.9M | 2.8M | 2.7M | 3.0M | 8.1M | 8.1M | 13M |
| CapEx/OCF | N/A | 20.3% | N/A | N/A | 1.2% | 2.2% | 3.5% | 0.9% | 2.1% | 3.0% | 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 | 0 | 0 | 0 |
| Buyback 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 | 0.0% |
| Stock-Based Comp | 5.9M | 8.0M | 8.5M | 10M | 12M | 13M | 13M | 15M | 16M | 14M | 12M | 9.5M | 9.1M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | N/A | N/A | N/A | N/A | N/A | -298M | -354M | -420M | -124M | -126M | -90M | -72M | -47M |
| Cash & Equiv. | 61M | 51M | 40M | 34M | 61M | 45M | 61M | 52M | 135M | 136M | 102M | 85M | 54M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0 | 3.1M | 4.1M | 3.8M |
| Debt/Equity | 0.07 | 0.60 | 0.60 | 0.56 | 0.21 | 0.04 | 0.03 | 0.02 | 0.02 | 0.02 | 0.02 | 0.04 | 0.03 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -1270.6 | -440.7 | -440.7 |
| Equity | 161M | 133M | 131M | 131M | 275M | 411M | 453M | 505M | 527M | 545M | 539M | 327M | 281M |
| Total Assets | 172M | 213M | 210M | 205M | 332M | 484M | 533M | 594M | 634M | 648M | 656M | 489M | 434M |
| Total Liabilities | 11M | 80M | 79M | 74M | 57M | 73M | 80M | 89M | 107M | 104M | 118M | 162M | 153M |
| Intangibles | 27M | 39M | 28M | 26M | 25M | 23M | 22M | 20M | 19M | 121M | 114M | 117M | 115M |
| Retained Earnings | -288M | -328M | -346M | -361M | -336M | -221M | -197M | -164M | -158M | -155M | -174M | -395M | -443M |
| Working Capital | 134M | 115M | 124M | 99M | 246M | 295M | 343M | 404M | 428M | 345M | 339M | 202M | 158M |
| Current Assets | 142M | 167M | 174M | 170M | 299M | 354M | 409M | 478M | 519M | 433M | 439M | 347M | 293M |
| Current Liabilities | 7.8M | 51M | 50M | 70M | 53M | 60M | 66M | 74M | 91M | 88M | 100M | 145M | 136M |
| Per Share Data | |||||||||||||
| EPS | 0.55 | -0.94 | -0.41 | -0.35 | 0.48 | 2.11 | 0.42 | 0.58 | 0.11 | 0.04 | -0.33 | -3.74 | -4.04 |
| Owner EPS | 2.05 | -0.21 | -0.65 | -0.35 | 0.29 | 0.54 | 0.64 | 0.80 | 0.23 | -0.07 | -0.63 | -2.15 | -2.47 |
| Book Value | 4.38 | 3.14 | 2.99 | 2.95 | 5.24 | 7.50 | 8.16 | 8.83 | 9.24 | 8.69 | 9.40 | 5.55 | 4.67 |
| Cash Flow/Share | 2.22 | 0.29 | -0.18 | -0.04 | 0.57 | 0.84 | 0.93 | 1.12 | 0.56 | 0.20 | -0.28 | -1.86 | -3.77 |
| 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. | 36.7M | 42.4M | 43.9M | 44.5M | 52.5M | 54.8M | 55.6M | 57.2M | 57.0M | 62.7M | 57.3M | 59.0M | 60.1M |
| Valuation | |||||||||||||
| P/E Ratio | 27.3 | N/A | N/A | N/A | 53.5 | 7.9 | 31.2 | 28.7 | 62.5 | 106.5 | N/A | N/A | -1.3 |
| P/FCF | 6.8 | 39.8 | N/A | N/A | 45.5 | 20.4 | 14.6 | 15.0 | 12.5 | 21.5 | N/A | N/A | N/A |
| EV/EBIT | 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 |
| Price/Book | 3.4 | 3.0 | 5.4 | 5.2 | 4.9 | 2.2 | 1.6 | 1.9 | 0.7 | 0.5 | 0.5 | 1.3 | 1.1 |
| Price/Sales | 9.6 | 4.3 | 3.6 | 4.1 | 5.2 | 4.1 | 2.6 | 3.7 | 2.5 | 1.9 | 1.4 | 1.3 | 1.4 |
| FCF Yield | 14.7% | 2.5% | -1.3% | -0.5% | 2.2% | 4.9% | 6.9% | 6.7% | 8.0% | 4.6% | -5.9% | -26.6% | -40.9% |
| Market Cap | 551M | 394M | 705M | 683M | 1.3B | 917M | 727M | 952M | 392M | 267M | 275M | 415M | 311M |
| Avg. Price | 13.08 | 11.13 | 11.82 | 15.07 | 19.30 | 16.95 | 11.63 | 17.21 | 11.06 | 5.77 | 4.84 | 4.76 | 5.18 |
| Year-End Price | 15.01 | 9.30 | 16.05 | 15.35 | 25.66 | 16.75 | 13.09 | 16.66 | 6.87 | 4.26 | 4.81 | 7.04 | 5.18 |
Vanda Pharmaceuticals Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 92.3%. At current prices, the estimated annualized return to fair value is -11.5%.
Vanda Pharmaceuticals Inc. (VNDA) has a debt-to-equity ratio of 0.04. This indicates a conservatively financed balance sheet.
Vanda Pharmaceuticals Inc. (VNDA) reported earnings per share (EPS) of $-3.74 in its most recent fiscal year.
Vanda Pharmaceuticals Inc. (VNDA) has a return on equity (ROE) of -50.9%. A negative ROE may indicate losses or negative equity.
Vanda Pharmaceuticals Inc. (VNDA) has a 5-year average gross margin of 92.3%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for Vanda Pharmaceuticals Inc. (VNDA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Vanda Pharmaceuticals Inc. (VNDA) has a book value per share of $5.55, based on its most recent annual SEC filing.