HRTXNasdaqPharmaceutical PreparationsFiscal year ends December 31
HERON THERAPEUTICS, INC. /DE/
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 10, 2026
$0.36−0.00 (-0.03%)
Close on Oct 19, 2026
- Market cap
- $68.69M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
73.3%+14.1 pts over 5 years
Operating margin
-1.6%+255.8 pts over 5 years
Net margin
-13.0%+243.4 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 | +7.4% | +12.9% | +11.8% | – | |
| Gross profit | +7.5% | +29.1% | +16.7% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -357.5% | -71.0% | 209.1% | |
| Return on assets | -168.7% | -52.5% | -8.3% | |
| Current ratio | 1.60 | 3.07 | 2.48 | |
| Interest coverage | -64.2× | -120.0× | -0.3× | |
| Inventory turnover | – | 1.1× | 0.6× | |
| Capex to revenue | 245.1% | 7.7% | 0.2% | |
| Diluted shares | 38M | 91M | 167M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Heron Therapeutics generated $459.18M from operations and spent $8.42M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$459.18M
Used
$8.42M
Capital expenditure$8.42M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-13.0%
×Asset turnover0.63×
×Equity multiplier-25.31×
=Return on equity, FY2025209.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -13.0% | 0.63× | -25.31× | 209.1% |
| FY2024 | -9.4% | 0.63× | -6.74× | 40.2% |
| FY2023 | -87.0% | 0.54× | -23.21× | 1083.9% |
| FY2022 | -169.1% | 0.39× | 6.11× | -399.4% |
| FY2021 | -255.6% | 0.26× | 2.10× | -140.5% |
| FY2020 | -256.4% | 0.20× | 1.35× | -71.0% |
| FY2019 | -140.3% | 0.30× | 1.26× | -52.9% |
| FY2018 | -230.8% | 0.22× | 1.39× | -71.4% |
| FY2017 | -641.9% | 0.20× | 2.75× | -359.4% |
| FY2016 | -13537.4% | 0.01× | 2.12× | -357.5% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$20.20M
- Cash generatingOperating cash flow above zero-$27.59M
- Return on assets improvedROA up on the prior year-6.1% → -8.7%
- Earnings backed by cashOperating cash flow above net income-$27.59M vs -$20.20M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose2.29 → 2.48
- No dilutionShare count did not rise152M → 167M
- Gross margin improvedGross margin up on the prior year73.21% → 73.31%
- More efficientAsset turnover rose0.65 → 0.66