VNDANasdaqPharmaceutical PreparationsFiscal year ends December 31
Vanda Pharmaceuticals Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$4.09+0.06 (+1.49%)
Close on Oct 19, 2026
- Market cap
- $246.33M
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2011 to 2025
Gross margin
94.0%+3.4 pts over 5 years
Operating margin
-70.0%−80.9 pts over 5 years
Net margin
-102.0%−111.4 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 | +8.7% | -5.3% | -2.7% | +7.0% | |
| Gross profit | +8.3% | -4.1% | -2.0% | +8.9% |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -13.6% | 5.4% | -50.9% | |
| Return on assets | -8.5% | 4.6% | -38.5% | |
| Current ratio | 3.46 | 6.21 | 2.39 | |
| Inventory turnover | – | 19.3× | 7.3× | |
| Capex to revenue | 1.0% | 0.7% | 0.5% | |
| Diluted shares | 43M | 55M | 59M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Vanda Pharmaceuticals generated $234.20M from operations and spent $3.10M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$234.20M
Used
$3.10M
Capital expenditure$3.10M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-102.0%
×Asset turnover0.38×
×Equity multiplier1.32×
=Return on equity, FY2025-50.9%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -102.0% | 0.38× | 1.32× | -50.9% |
| FY2024 | -9.5% | 0.30× | 1.20× | -3.5% |
| FY2023 | 1.3% | 0.30× | 1.20× | 0.5% |
| FY2022 | 2.5% | 0.41× | 1.19× | 1.2% |
| FY2021 | 12.3% | 0.48× | 1.18× | 6.9% |
| FY2020 | 9.4% | 0.49× | 1.18× | 5.4% |
| FY2019 | 50.9% | 0.56× | 1.19× | 33.7% |
| FY2018 | 13.1% | 0.72× | 1.32× | 12.4% |
| FY2017 | -9.4% | 0.79× | 1.58× | -11.9% |
| FY2016 | -12.3% | 0.69× | 1.60× | -13.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
2of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$220.47M
- Cash generatingOperating cash flow above zero-$109.44M
- Return on assets improvedROA up on the prior year-2.9% → -33.6%
- Earnings backed by cashOperating cash flow above net income-$109.44M vs -$220.47M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.39 → 2.39
- No dilutionShare count did not rise58M → 59M
- Gross margin improvedGross margin up on the prior year94.31% → 93.96%
- More efficientAsset turnover rose0.31 → 0.33