MNKDNasdaqPharmaceutical PreparationsFiscal year ends December 31
MANNKIND CORP
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 5, 2026
$3.09+0.05 (+1.64%)
Close on Oct 19, 2026
- Market cap
- $955.40M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
92.3%+15.5 pts over 5 years
Operating margin
11.1%+84.7 pts over 5 years
Net margin
1.7%+89.5 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 | +22.2% | +51.8% | +39.9% | – | |
| Gross profit | +20.2% | +56.7% | +45.1% | – | |
| Operating income | -46.5% | – | – | – | |
| Net income | -78.7% | – | – | – | |
| EPS, diluted | -80.0% | – | – | – | |
| Free cash flow | -58.3% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -47.1% | 30.9% | -9.0% | |
| Return on assets | 107.6% | -56.6% | 1.0% | |
| Current ratio | 0.84 | 1.08 | 1.70 | |
| Interest coverage | 4.3× | -5.1× | 2.8× | |
| Inventory turnover | – | 3.3× | 0.8× | |
| Capex to revenue | 0.7% | 1.2% | 1.3% | |
| Diluted shares | 92M | 223M | 314M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Mannkind generated $237.25M from operations and spent $75.76M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$237.25M
Used
$75.76M
Capital expenditure$75.76M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin1.7%
×Asset turnover0.59×
×Equity multiplier-9.13×
=Return on equity, FY2025-9.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 1.7% | 0.59× | -9.13× | -9.0% |
| FY2024 | 9.7% | 0.66× | -2.67× | -17.0% |
| FY2023 | -6.0% | 0.52× | -1.55× | 4.8% |
| FY2022 | -87.6% | 0.32× | -1.34× | 38.0% |
| FY2021 | -107.3% | 0.35× | -1.10× | 41.5% |
| FY2020 | -87.9% | 0.64× | -0.55× | 30.9% |
| FY2019 | -82.3% | 0.63× | -0.55× | 28.4% |
| FY2018 | -312.2% | 0.29× | -0.49× | 44.6% |
| FY2017 | -999.0% | 0.12× | -0.48× | 58.9% |
| FY2016 | 71.9% | 1.50× | -0.44× | -47.1% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero$5.86M
- Cash generatingOperating cash flow above zero$18.26M
- Return on assets improvedROA up on the prior year5.8% → 1.5%
- Earnings backed by cashOperating cash flow above net income$18.26M vs $5.86M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose3.28 → 1.70
- No dilutionShare count did not rise284M → 314M
- Gross margin improvedGross margin up on the prior year93.90% → 92.32%
- More efficientAsset turnover rose0.60 → 0.89