Aurinia Pharmaceuticals Inc. (AUPH) stock analysis
Close on Nov 11, 2026Market cap $2.17BP/E 7.1Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed13 of 30 checks passed
Aurinia Pharmaceuticals passes 13 of the 30 checks behind our score; 14 could not be run for lack of data and count as not passed. Each dot in the shape is one check — hover it for the numbers.
- Valuation
- 3/6
- Growth
- 3/6
- Past performance
- 4/6
- Financial health
- 3/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 60.7% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $16.21 is below our fair value estimate of $41.25.
Return on capital over 10%
Return on invested capital was 34.6%, above the 10% that usually covers the cost of capital.
Revenue growing 10%+ a year
Revenue grew 28.3% a year over the last three fiscal years.
What to watch
Return on equity under 15%
Return on equity was 61.4% over the last twelve months and averaged -4.8% over five years; we look for 15% on both.
P/B above the industry
Aurinia Pharmaceuticals's price-to-book of 3.30 is above the Drugs median of 2.29.
No dividend
Aurinia Pharmaceuticals has not paid a dividend in the last twelve months.
Valuation3/6
P/E against its history
Not enough price and earnings history to compare.
P/E below the industry
Aurinia Pharmaceuticals's P/E of 7.1 is below the Drugs median of 25.1.
EV/EBITDA against its history
Needs positive EBITDA and price history.
P/B above the industry
Aurinia Pharmaceuticals's price-to-book of 3.30 is above the Drugs median of 2.29.
Trading below fair value
The share price of $16.21 is below our fair value estimate of $41.25.
Margin of safety over 20%
The price is 60.7% below fair value, more than the 20% cushion we look for.
Growth3/6
Revenue growing 10%+ a year
Revenue grew 28.3% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings acceleration
Needs positive net income now, a year ago and five years ago.
Growing faster than the industry
Revenue grew 21.0% over the last twelve months; the Drugs median is 8.0%.
Guidance issued
The latest outlook (2026 total revenue, Oct 30, 2026) was issued for the first time, so it neither adds nor takes away points.
Gross margin improving
Gross margin was 90.6% over the last twelve months, against 88.9% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 61.4% over the last twelve months and averaged -4.8% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 34.6%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Aurinia Pharmaceuticals's return on equity of 61.4% is above the Drugs median of -58.9%.
Earnings over 5 years
Needs positive net income five years ago and in the latest year.
Net margin above its 5-year average
Net margin was 97.7% over the last twelve months, against a 5-year average of -83.6%.
Net margin above the industry
Aurinia Pharmaceuticals's net margin of 97.7% is above the Drugs median of -53.0%.
Financial health3/6
Debt level
Needs debt and equity figures.
Debt trend
Needs a balance sheet from five years ago with positive equity.
Debt coverage
Needs operating cash flow.
Interest well covered
Operating income covers interest expense 40.4 times.
Short-term assets cover short-term debts
Current assets are 6.12 times current liabilities.
Low bankruptcy risk
The Altman Z-score is 8.55; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Aurinia Pharmaceuticals has not paid a dividend in the last twelve months.
Yield against Treasuries
No dividend.
Yield against the market
No dividend.
Dividend stability
No dividend.
Earnings cover
No dividend.
Cash-flow cover
No dividend.
Fair value
How we estimate itOur estimate per share
$41.25
The share price is 61% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 25.1× | – | 25.1× | $57.45 | 53% |
| EV/EBITDA | 17.1× | – | 17.1× | $22.74 | 47% |
| Earnings powerleft out, too far from the others | 10.2% cost of equity | – | – | $3.57 | – |
| Fair value | $41.25 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Drugs median 25.1
An estimate from reported numbers and market multiples, not a price target or investment advice. It can be far off for companies whose profits are about to change sharply.
Market risk
From the past year of daily prices.
Liquidity
Medium risk
- Average value traded per day
- $14.95M
- Value traded per 1% price move
- $10.19M
Downside
Low risk
- Typical loss in a bad month
- 11.8%
- Volatility (annualized)
- 36%
- Sharpe ratio, 1 year
- 0.13
- Beta to the S&P 500 (5Y)
- 1.07
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2015 to 2025
Gross margin
Operating margin
Net margin
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +20.4% | +28.3% | +41.4% | – | |
| Gross profit | +21.0% | +24.9% | +38.0% | – | |
| Net income | +4893.1% | – | – | – | |
| EPS, diluted | +5075.0% | – | – | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | -29.1% | 59.9% | |
| Return on assets | – | -26.1% | 44.1% | |
| Current ratio | 5.22 | 13.11 | 5.25 | |
| Interest coverage | – | – | 24.2× | |
| Inventory turnover | – | 0.0× | 0.8× | |
| Capex to revenue | 8.7% | – | – | |
| Diluted shares | 35M | 118M | 139M |
Cash use needs five years of cash flow figures
Aurinia Pharmaceuticals does not report operating cash flow and capital expenditure for each of the last five fiscal years.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 101.5% | 0.43× | 1.36× | 59.9% |
| FY2024 | 2.4% | 0.43× | 1.45× | 1.5% |
| FY2023 | -44.5% | 0.34× | 1.30× | -19.9% |
| FY2022 | -80.7% | 0.26× | 1.15× | -24.5% |
| FY2021 | -396.8% | 0.09× | 1.14× | -40.8% |
| FY2020 | -204.9% | 0.13× | 1.12× | -29.1% |
| FY2019 | -27794.0% | 0.00× | 1.08× | -40.7% |
| FY2018 | -11464.1% | 0.00× | 1.07× | -33.8% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$287.20M
- Cash generatingOperating cash flow above zero$135.66M
- Return on assets improvedROA up on the prior year1.0% → 52.2%
- Earnings backed by cashOperating cash flow above net income$135.66M vs $287.20M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.57 → 5.25
- No dilutionShare count did not rise146M → 139M
- Gross margin improvedGross margin up on the prior year87.99% → 88.46%
- More efficientAsset turnover rose0.43 → 0.51
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