HRMYNasdaqPharmaceutical PreparationsFiscal year ends December 31
Harmony Biosciences Holdings, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 4, 2026
$37.54−0.41 (-1.08%)
Close on Oct 19, 2026
- Market cap
- $2.21B
- P/E (TTM)
- 12.1
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2018 to 2025
Gross margin
77.2%−5.5 pts over 5 years
Operating margin
24.0%+13.4 pts over 5 years
Net margin
18.3%+41.4 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 | +21.5% | +25.6% | +40.3% | – | |
| Gross profit | +20.1% | +23.7% | +38.4% | – | |
| Operating income | +9.2% | +20.2% | +65.1% | – | |
| Net income | +9.1% | -4.4% | – | – | |
| EPS, diluted | +8.0% | -3.0% | – | – | |
| Free cash flow | +59.1% | +34.1% | – | – |
Returns and balance sheet
8 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2018 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | 22.7% | 20.8% | |
| Return on assets | – | -13.8% | 14.0% | |
| Current ratio | – | 1.95 | 3.60 | |
| Debt to equity | – | 2.00 | 0.19 | |
| Interest coverage | – | 0.6× | 14.2× | |
| Inventory turnover | – | 11.3× | 31.6× | |
| Capex to revenue | – | 0.0% | 0.0% | |
| Diluted shares | – | 26M | 59M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Harmony Biosciences generated $1.03B from operations and spent $102.25M on capital expenditure, dividends and share buybacks. 2% of that went back into the business.
Generated
$1.03B
Used
$102.25M
Capital expenditure$2.25M2%Dividends$00%Share buybacks$100.00M98%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin18.3%
×Asset turnover0.76×
×Equity multiplier1.48×
=Return on equity, FY202520.8%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 18.3% | 0.76× | 1.48× | 20.8% |
| FY2024 | 20.4% | 0.79× | 1.61× | 25.8% |
| FY2023 | 22.1% | 0.78× | 1.71× | 29.6% |
| FY2022 | 41.4% | 0.79× | 1.88× | 61.6% |
| FY2021 | 11.3% | 0.71× | 3.03× | 24.4% |
| FY2020 | -23.1% | 0.60× | -1.64× | 22.7% |
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$158.69M
- Cash generatingOperating cash flow above zero$348.20M
- Return on assets improvedROA up on the prior year17.9% → 15.9%
- Earnings backed by cashOperating cash flow above net income$348.20M vs $158.69M
- Less leverageLong-term debt to assets fell16.3% → 11.3%
- Better liquidityCurrent ratio rose3.31 → 3.60
- No dilutionShare count did not rise58M → 59M
- Gross margin improvedGross margin up on the prior year78.06% → 77.16%
- More efficientAsset turnover rose0.88 → 0.87