Collegium Pharmaceutical, Inc (COLL) stock analysis
Close on Nov 11, 2026Market cap $807.71MP/E 24.8Yield –
StockData Score
Prices as of Nov 11, 2026How the score works
Mixed10 of 30 checks passed
Collegium Pharmaceutical passes 10 of the 30 checks behind our score; 9 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
- 2/6
- Past performance
- 4/6
- Financial health
- 1/6
- Dividend
- 0/6
What stands out
Margin of safety over 20%
The price is 44.6% below fair value, more than the 20% cushion we look for.
Trading below fair value
The share price of $24.81 is below our fair value estimate of $44.75.
Return on capital over 10%
Return on invested capital was 160%, above the 10% that usually covers the cost of capital.
Earnings grew over 5 years
Net income grew 18.6% a year on average over the last five fiscal years.
What to watch
Return on equity under 15%
Return on equity was 13.4% over the last twelve months and averaged 21.0% over five years; we look for 15% on both.
Earnings growth not accelerating
Net income grew -34.7% over the last twelve months, against a 5-year average of 18.6% a year.
Interest not well covered
Operating income covers interest expense 1.6 times; we look for at least 5.
Elevated bankruptcy risk
The Altman Z-score is 0.81; above 3 is the safe zone and below 1.8 the distress zone.
Valuation3/6
P/E above its 5-year median
Collegium Pharmaceutical's P/E of 24.8 is above its own 5-year median of 18.2.
P/E below the industry
Collegium Pharmaceutical's P/E of 24.8 is below the Drugs median of 25.1.
EV/EBITDA above its 5-year median
Collegium Pharmaceutical's EV/EBITDA of 5.3 is above its 5-year median of 5.3.
P/B above the industry
Collegium Pharmaceutical's price-to-book of 2.72 is above the Drugs median of 2.29.
Trading below fair value
The share price of $24.81 is below our fair value estimate of $44.75.
Margin of safety over 20%
The price is 44.6% below fair value, more than the 20% cushion we look for.
Growth2/6
Revenue growing 10%+ a year
Revenue grew 18.9% a year over the last three fiscal years.
EPS growth over 3 years
Needs positive EPS three years ago and today.
Earnings growth not accelerating
Net income grew -34.7% over the last twelve months, against a 5-year average of 18.6% a year.
Growing slower than the industry
Revenue grew 7.7% over the last twelve months; the Drugs median is 8.0%.
Guidance lowered
Collegium Pharmaceutical lowered its full-year 2026 AZSTARYS Revenue, Net outlook on Aug 6, 2026.
Gross margin improving
Gross margin was 59.0% over the last twelve months, against 57.2% a year earlier.
Past performance4/6
Return on equity under 15%
Return on equity was 13.4% over the last twelve months and averaged 21.0% over five years; we look for 15% on both.
Return on capital over 10%
Return on invested capital was 160%, above the 10% that usually covers the cost of capital.
Return on equity above the industry
Collegium Pharmaceutical's return on equity of 13.4% is above the Drugs median of -58.8%.
Earnings grew over 5 years
Net income grew 18.6% a year on average over the last five fiscal years.
Net margin below its 5-year average
Net margin was 4.7% over the last twelve months, against a 5-year average of 9.6%.
Net margin above the industry
Collegium Pharmaceutical's net margin of 4.7% is above the Drugs median of -53.0%.
Financial health1/6
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 not well covered
Operating income covers interest expense 1.6 times; we look for at least 5.
Short-term assets cover short-term debts
Current assets are 1.01 times current liabilities.
Elevated bankruptcy risk
The Altman Z-score is 0.81; above 3 is the safe zone and below 1.8 the distress zone.
Dividend0/6
No dividend
Collegium Pharmaceutical 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
$44.75
The share price is 45% below this estimate.
| Method | Multiple used | Own 5Y median | Industry median | Value per share | Weight |
|---|---|---|---|---|---|
| P/E | 21.6× | 18.2× | 25.1× | $21.61 | 40% |
| EV/EBITDA | 11.2× | 5.3× | 17.1× | $46.95 | 35% |
| P/B | 3.2× | 4.1× | 2.3× | $29.15 | 10% |
| Earnings power | 7.4% cost of equity | – | – | $111.71 | 15% |
| Fair value | $44.75 | 100% | |||
Valuation over time
Using the earnings and balance sheet published at each date, not today's.
- P/E at month end
- Own 5-year median 18.2
- 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
- $16.04M
- Value traded per 1% price move
- $12.47M
Downside
High risk
- Typical loss in a bad month
- 28.1%
- Volatility (annualized)
- 42%
- Sharpe ratio, 1 year
- -1.12
- Beta to the S&P 500 (5Y)
- 0.47
Typical bad-month loss, week by week
Margins
Share of revenue, fiscal years 2012 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 | +23.6% | +18.9% | +20.3% | – | |
| Gross profit | +22.8% | +30.3% | +20.8% | – | |
| Operating income | +5.7% | +75.3% | +26.1% | – | |
| Net income | -9.1% | – | +18.6% | – | |
| EPS, diluted | -7.0% | – | +17.9% | – | |
| Free cash flow | +61.1% | +38.8% | +30.0% | – |
Returns and balance sheet
10 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2016 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | -85.6% | 19.6% | 23.7% | |
| Return on assets | -72.5% | 5.6% | 3.8% | |
| Current ratio | 6.20 | 1.16 | 1.57 | |
| Interest coverage | -1000.9× | 1.9× | 2.2× | |
| Inventory turnover | – | 10.3× | 8.3× | |
| Capex to revenue | 27.9% | 1.8% | 0.2% | |
| Diluted shares | 24M | 35M | 40M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Collegium Pharmaceutical generated $1.04B from operations and spent $229.47M on capital expenditure, dividends and share buybacks. 3% of that went back into the business.
DuPont analysis
Return on equity split into margin, efficiency and leverage
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | 8.1% | 0.47× | 6.26× | 23.7% |
| FY2024 | 11.0% | 0.45× | 6.62× | 32.6% |
| FY2023 | 8.5% | 0.49× | 5.94× | 24.7% |
| FY2022 | -5.4% | 0.50× | 4.69× | -12.6% |
| FY2021 | 25.8% | 0.41× | 3.43× | 36.8% |
| FY2020 | 8.6% | 0.65× | 3.47× | 19.6% |
| FY2019 | -7.7% | 0.99× | 3.34× | -25.4% |
| FY2018 | -14.0% | 1.31× | 2.18× | -40.0% |
| FY2017 | -262.9% | 0.19× | 1.25× | -62.7% |
| FY2016 | -5504.1% | 0.01× | 1.18× | -85.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
- ProfitableNet income above zero$62.87M
- Cash generatingOperating cash flow above zero$329.32M
- Return on assets improvedROA up on the prior year6.1% → 3.8%
- Earnings backed by cashOperating cash flow above net income$329.32M vs $62.87M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose0.95 → 1.57
- No dilutionShare count did not rise40M → 40M
- Gross margin improvedGross margin up on the prior year59.76% → 59.35%
- More efficientAsset turnover rose0.55 → 0.47
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