PHATNasdaqPharmaceutical PreparationsFiscal year ends December 31
Phathom Pharmaceuticals, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Jul 30, 2026
$7.01+0.09 (+1.30%)
Close on Oct 19, 2026
- Market cap
- $587.07M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2017 to 2025
Gross margin
87.1%
Operating margin
-91.4%
Net margin
-126.3%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +216.9% | – | – | – | |
| Gross profit | +222.6% | – | – | – |
Returns and balance sheet
9 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2017 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -61.1% | 64.0% | |
| Return on assets | – | -46.7% | -69.4% | |
| Current ratio | – | 5.25 | 1.73 | |
| Debt to equity | – | 0.24 | -0.48 | |
| Net debt to EBITDA | – | 1.92× | -0.50× | |
| Interest coverage | – | -27.4× | -2.3× | |
| Inventory turnover | – | – | 5.2× | |
| Capex to revenue | – | – | 0.1% | |
| Diluted shares | – | 33M | 73M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Phathom Pharmaceuticals generated $866.11M from operations and spent $3.37M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$866.11M
Used
$3.37M
Capital expenditure$3.37M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-126.3%
×Asset turnover0.55×
×Equity multiplier-0.92×
=Return on equity, FY202564.0%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -126.3% | 0.55× | -0.92× | 64.0% |
| FY2024 | -605.1% | 0.14× | -2.43× | 204.9% |
| FY2023 | -29558.9% | 0.00× | -3.92× | 273.2% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
4of 9 tests passed in fiscal 2025. Scores of 7 to 9 are usually read as strong.
- ProfitableNet income above zero-$221.25M
- Cash generatingOperating cash flow above zero-$166.78M
- Return on assets improvedROA up on the prior year-80.8% → -58.5%
- Earnings backed by cashOperating cash flow above net income-$166.78M vs -$221.25M
- Less leverageLong-term debt to assets fell53.2% → 80.7%
- Better liquidityCurrent ratio rose4.20 → 1.73
- No dilutionShare count did not rise63M → 73M
- Gross margin improvedGross margin up on the prior year85.57% → 87.09%
- More efficientAsset turnover rose0.13 → 0.46