AKBA Healthcare

Akebia Therapeutics, Inc.

$0.73+2.54%

Price as of close on Nov 3, 2026 · Financials updated Oct 6, 2026

Basics

Sector: Healthcare
Industry: Drug Manufacturers - Specialty & Generic
Country: United States
Market cap: 201.2M USD
Enterprise value: 79.7M USD
Full-time employees: 194

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.43 vs a peer median of 2.59) and more debt relative to equity (1.98× vs a peer median of 0.22×)higher risk: less liquidity (current ratio 1.43 vs peers 2.59) and more debt vs equity (1.98× vs peers 0.22×)
About average: growth

Ranks #1,063 of 1,157 healthcare companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 50% from December 2022 to July 2026.
Akebia Therapeutics had 50% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Akebia Therapeutics had 50% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Akebia Therapeutics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Not profitable yet. Reported a loss in the 12 months to June 2026.
Akebia Therapeutics reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.
Steadier share price. Beta 0.18: tends to move less than the market.
Akebia Therapeutics's shares have swung less with the market than most peers' (beta 0.18, below the market's 1.0).

StockQuotient Score

24/ 100

Oct 5 24 → Nov 4 24

Valuation

Is the price right?

8/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Share count up 3.3% (existing holders diluted)

Valuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-14.7%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0148 · MAD: 0.0148

EBITDA yield-1.8%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsNegative (a loss or cash outflow), so it counts as zero whatever the share price50% base weight · Z-score -1.00Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield20.0%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingOutlier capped at sector 5th/95th percentile20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield12.4%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3716 · MAD: 0.2313

Growth

Is it growing?

48/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

12-month revenue fell 5.7%

Why

Held back by:

▼ 3-yr revenue

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.29Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth2.9%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.35Sector median: 0.0584 · MAD: 0.0840

Revenue growth7.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.15Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

29/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 9.2 points to -6.9%

Why

Weaker than most peers on:

▼ ROIC
▼ ROA
▼ Operating margin

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin-6.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.15Sector median: 0.0706 · MAD: 0.1217

Return on assets-8.5%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.89Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-13.7%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score -1.83Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin79.6%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-118.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0330 · MAD: 0.1225

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ Debt / equity
▼ Current ratio

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta0.18

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 1.32Sector median: 0.6250 · MAD: 0.3380

Current ratio1.43×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.84Sector median: 2.5860 · MAD: 1.3850

Debt / equity1.98×

SEC filings · latest balance sheetReported value33% base weight · Z-score -8.63Sector median: 0.2215 · MAD: 0.2039

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Akebia Therapeutics

Is Akebia Therapeutics getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 9.2 points to -6.9%; 12-month revenue fell 5.7%. Its overall score is unchanged at 24/100 since Oct 28, 2026.
How is Akebia Therapeutics valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -14.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -14.7% vs peers 1.5% (weaker than 100% of peers).
Is Akebia Therapeutics growing?: At about the same pace as its peers. Growth scores 48/100 against 1,393 healthcare peers. 3-year revenue growth 2.9% vs a peer median of 5.8% (weaker than 62% of peers).3-year revenue growth 2.9% vs peers 5.8% (weaker than 62% of peers).
How profitable is Akebia Therapeutics?: Less profitable than most of its peers. Profitability scores 29/100 against 1,393 healthcare peers. Return on invested capital -13.7% vs a peer median of 4.7% (weaker than 76% of peers).Return on invested capital -13.7% vs peers 4.7% (weaker than 76% of peers).
How risky is Akebia Therapeutics?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.18 vs a peer median of 0.63 (stronger than 93% of peers).Beta 0.18 vs peers 0.63 (stronger than 93% of peers). Debt / equity 1.98× vs a peer median of 0.22× (weaker than 89% of peers).Debt / equity 1.98× vs peers 0.22× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Operating margin fell 9.2 points to -6.9%
12-month revenue fell 5.7%
Share count up 3.3% (existing holders diluted)

	Previous quarter	Latest quarter	Change
Revenue (12 months)	232.4M USD	219.1M USD	−5.7%
Net income (12 months)	−20.5M USD	−29.6M USD	+44.7%
Operating margin	2.3%	-6.9%	−9.2 pts
Free cash flow (12 months)	60.0M USD	40.3M USD	−32.9%
Debt	48.9M USD	49.6M USD	+1.4%
Cash	162.6M USD	155.5M USD	−4.4%
Shares outstanding	268.3M	277.1M	+3.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Drug Manufacturers - Specialty & Generic · 27 companies

Valuations in Drug Manufacturers - Specialty & Generic are within their usual range since Jun 2020.

45% of months since Jun 2020 were valued lower than now.
24% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +8% vs the whole market, against a usual +36%.

Jun 2020Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	28.8%	70.7%	61.9%	60.6%	83.3%	▲ 23 pts
Operating margin	-125.0%	-27.6%	-23.8%	-31.5%	9.9%	▲ 41 pts
Net margin	-133.3%	-32.2%	-26.7%	-43.3%	-2.3%	▲ 41 pts
Return on assets (ROA)	-53.3%	-26.5%	-21.5%	-31.5%	-1.4%	▲ 30 pts
Return on equity (ROE)	-381.1%	—	—	—	-16.4%	—
Free cash flow margin	-119.5%	-25.1%	-12.0%	-25.4%	28.7%	▲ 54 pts
Current ratio	1.04×	1.43×	1.18×	1.41×	1.55×	▲ 10%
Quick ratio	0.90×	1.26×	1.03×	1.21×	1.46×	▲ 21%
Debt to equity	1.32×	—	—	—	1.48×	—

AKBA price history

Price history is added with the daily price update and will appear after the next one.

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Sector leaderboards

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Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: less short-term liquidity (current ratio 1.43 vs a peer median of 2.59) and more debt relative to equity (1.98× vs a peer median of 0.22×)higher risk: less liquidity (current ratio 1.43 vs peers 2.59) and more debt vs equity (1.98× vs peers 0.22×)

About average: growth

Ranks #1,063 of 1,157 healthcare companies (bottom 9%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 50% from December 2022 to July 2026.

Akebia Therapeutics had 50% more shares at July 2026 than at December 2022, mostly from issuing stock (for pay, acquisitions or fundraising). Each existing share now owns a smaller slice of the business.Akebia Therapeutics had 50% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Akebia Therapeutics looks cheaper than 50% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Not profitable yet. Reported a loss in the 12 months to June 2026.

Akebia Therapeutics reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

Steadier share price. Beta 0.18: tends to move less than the market.

Akebia Therapeutics's shares have swung less with the market than most peers' (beta 0.18, below the market's 1.0).

Questions investors ask about Akebia Therapeutics

Is Akebia Therapeutics getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 9.2 points to -6.9%; 12-month revenue fell 5.7%. Its overall score is unchanged at 24/100 since Oct 28, 2026.

How is Akebia Therapeutics valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 8/100 against 1,393 healthcare peers. Earnings yield -14.7% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -14.7% vs peers 1.5% (weaker than 100% of peers).

Is Akebia Therapeutics growing?

At about the same pace as its peers. Growth scores 48/100 against 1,393 healthcare peers. 3-year revenue growth 2.9% vs a peer median of 5.8% (weaker than 62% of peers).3-year revenue growth 2.9% vs peers 5.8% (weaker than 62% of peers).

How profitable is Akebia Therapeutics?

Less profitable than most of its peers. Profitability scores 29/100 against 1,393 healthcare peers. Return on invested capital -13.7% vs a peer median of 4.7% (weaker than 76% of peers).Return on invested capital -13.7% vs peers 4.7% (weaker than 76% of peers).

How risky is Akebia Therapeutics?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.18 vs a peer median of 0.63 (stronger than 93% of peers).Beta 0.18 vs peers 0.63 (stronger than 93% of peers). Debt / equity 1.98× vs a peer median of 0.22× (weaker than 89% of peers).Debt / equity 1.98× vs peers 0.22× (weaker than 89% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

232.4M USD

219.1M USD

−5.7%

Net income (12 months)

−20.5M USD

−29.6M USD

+44.7%

Operating margin

2.3%

-6.9%

−9.2 pts

Free cash flow (12 months)

60.0M USD

40.3M USD

−32.9%

Debt

48.9M USD

49.6M USD

+1.4%

Cash

162.6M USD

155.5M USD

−4.4%

Shares outstanding

268.3M

277.1M

+3.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

28.8%

70.7%

61.9%

60.6%

83.3%

▲ 23 pts

Operating margin

-125.0%

-27.6%

-23.8%

-31.5%

9.9%

▲ 41 pts

Net margin

-133.3%

-32.2%

-26.7%

-43.3%

-2.3%

▲ 41 pts

Return on assets (ROA)

-53.3%

-26.5%

-21.5%

-31.5%

-1.4%

▲ 30 pts

Return on equity (ROE)

-381.1%

—

-16.4%

—

Free cash flow margin

-119.5%

-25.1%

-12.0%

-25.4%

28.7%

▲ 54 pts

Current ratio

1.04×

1.43×

1.18×

1.41×

1.55×

▲ 10%

Quick ratio

0.90×

1.26×

1.03×

1.21×

1.46×

▲ 21%

Debt to equity

1.32×

—

1.48×

—