HALONasdaqBiological Products, (No Diagnostic Substances)Fiscal year ends December 31
HALOZYME THERAPEUTICS, INC.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$122.50+0.66 (+0.54%)
Close on Oct 19, 2026
- Market cap
- $14.85B
- P/E (TTM)
- 36.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
83.6%−0.2 pts over 5 years
Operating margin
33.6%−20.3 pts over 5 years
Net margin
22.7%−25.5 pts over 5 years
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +37.6% | +28.4% | +39.2% | +26.3% | |
| Gross profit | +36.4% | +30.9% | +39.1% | +27.1% | |
| Operating income | -15.0% | +20.6% | +26.6% | – | |
| Net income | -28.6% | +16.2% | +19.7% | – | |
| EPS, diluted | -25.4% | +21.1% | +23.0% | – | |
| Free cash flow | +37.6% | +39.9% | +64.8% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -1959.0% | 106.3% | 153.6% | |
| Return on assets | -46.5% | 22.5% | 13.8% | |
| Current ratio | 4.70 | 1.32 | 4.66 | |
| Debt to equity | -6.67 | 2.63 | 43.89 | |
| Net debt to EBITDA | -1.85× | 1.69× | 4.18× | |
| Interest coverage | -4.2× | 7.1× | 25.9× | |
| Inventory turnover | 2.8× | 1.0× | 1.4× | |
| Capex to revenue | 2.1% | 0.9% | 0.5% | |
| Diluted shares | 128M | 141M | 124M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Halozyme Therapeutics generated $2.06B from operations and spent $1.58B on capital expenditure, dividends and share buybacks. 2% of that went back into the business.
Generated
$2.06B
Used
$1.58B
Capital expenditure$39.23M2%Dividends$00%Share buybacks$1.54B98%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin22.7%
×Asset turnover0.61×
×Equity multiplier11.12×
=Return on equity, FY2025153.6%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 22.7% | 0.61× | 11.12× | 153.6% |
| FY2024 | 43.7% | 0.53× | 8.48× | 198.4% |
| FY2023 | 34.0% | 0.46× | 14.10× | 222.1% |
| FY2022 | 30.6% | 0.45× | 8.03× | 110.2% |
| FY2021 | 90.8% | 0.53× | 4.84× | 231.4% |
| FY2020 | 48.2% | 0.47× | 4.72× | 106.3% |
| FY2019 | -36.9% | 0.39× | 2.95× | -42.4% |
| FY2018 | -52.9% | 0.32× | 2.10× | -35.1% |
| FY2017 | 19.9% | 0.81× | 4.44× | 71.6% |
| FY2016 | -70.2% | 0.66× | 42.15× | -1959.0% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
5of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero$316.89M
- Cash generatingOperating cash flow above zero$651.56M
- Return on assets improvedROA up on the prior year25.6% → 15.4%
- Earnings backed by cashOperating cash flow above net income$651.56M vs $316.89M
- Less leverageLong-term debt to assets fell73.0% → 84.8%
- Better liquidityCurrent ratio rose7.80 → 4.66
- No dilutionShare count did not rise129M → 124M
- Gross margin improvedGross margin up on the prior year84.30% → 83.62%
- More efficientAsset turnover rose0.59 → 0.68