RPRX Healthcare

Royalty Pharma plc

$66.40-0.18%

Price as of close on Nov 3, 2026 · Financials updated Sep 30, 2026

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 38.4B USD
Enterprise value: 42.1B USD
Full-time employees: 100

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: higher risk than most peers: more debt relative to equity (0.92× vs a peer median of 0.22×)higher risk: more debt vs equity (0.92× vs peers 0.22×)
About average: valuation

Ranks #625 of 1,157 healthcare companies (bottom 47%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 12% of revenue in 2025.
Royalty Pharma paid employees $290M in stock in 2025, 12% of its $2.4B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Cash flow well above reported profit. Free cash flow is 3.5× reported profit.
Free cash flow is 3.5× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.
Wide margins. Operating margin 60% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 60% vs peers 7.1%.
Royalty Pharma keeps 60% of revenue as operating profit, more than 95% of peers (median 7.1%).

StockQuotient Score

50/ 100

Oct 5 50 → Nov 4 50

Valuation

Is the price right?

50/100

Moderate

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Close to the peer norm on every measure.

Compare with peers

Behind the score

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

Earnings yield2.2%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score 0.48Sector median: 0.0148 · MAD: 0.0148

EBITDA yield3.3%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.17Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield7.8%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield26.5%

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

Growth

Is it growing?

38/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 3.9%

Why

Weaker than most peers on:

▼ EPS growth
▼ 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 growth-19.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.99Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth2.4%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -0.41Sector median: 0.0584 · MAD: 0.0840

Revenue growth10.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.40Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

80/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 5.5 points to 59.6%

Why

Stronger than most peers on:

▲ Operating margin
▲ ROA

Compare with peers

Behind the score

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

Operating margin59.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 2.16Sector median: 0.0706 · MAD: 0.1217

Return on assets4.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.45Sector median: 0.0166 · MAD: 0.0537

Return on invested capital6.7%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 0.19Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin95.8%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsOutlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity8.3%

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

Compare with peers

Behind the score

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

Beta0.43

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score 0.58Sector median: 0.6250 · MAD: 0.3380

Current ratio2.80×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.15Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.92×

SEC filings · latest balance sheetReported value33% base weight · Z-score -3.40Sector 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 Royalty Pharma

Is Royalty Pharma getting weaker?: Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 5.5 points to 59.6%. Its overall score is unchanged at 50/100 since Oct 28, 2026.
How is Royalty Pharma valued vs its peers?: Priced about in line with its peers. Valuation scores 50/100 against 1,393 healthcare peers.
Is Royalty Pharma growing?: More slowly than most of its peers. Growth scores 38/100 against 1,393 healthcare peers. Revenue growth 10.0% vs a peer median of 6.1% (stronger than 61% of peers).Revenue growth 10.0% vs peers 6.1% (stronger than 61% of peers). Earnings per share growth -19.9% vs a peer median of 9.8% (weaker than 70% of peers).Earnings per share growth -19.9% vs peers 9.8% (weaker than 70% of peers).
How profitable is Royalty Pharma?: More profitable than most of its peers. Profitability scores 80/100 against 1,393 healthcare peers. Operating margin 59.6% vs a peer median of 7.1% (stronger than 95% of peers).Operating margin 59.6% vs peers 7.1% (stronger than 95% of peers).
How risky is Royalty Pharma?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.43 vs a peer median of 0.63 (stronger than 66% of peers).Beta 0.43 vs peers 0.63 (stronger than 66% of peers). Debt / equity 0.92× vs a peer median of 0.22× (weaker than 80% of peers).Debt / equity 0.92× vs peers 0.22× (weaker than 80% 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 5.5 points to 59.6%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	2.4B USD	2.5B USD	+3.9%
Net income (12 months)	826.3M USD	812.0M USD	−1.7%
Operating margin	65.1%	59.6%	−5.5 pts
Debt	9.0B USD	9.0B USD	+0.1%
Cash	586.4M USD	812.0M USD	+38.5%

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

Industry valuation context

Industry: Biotechnology · 132 companies

Valuations in Biotechnology are within their usual range since 2016.

48% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Median price-to-sales is +530% vs the whole market, against a usual +637%.

2016Shaded: most expensive fifth of its range2026

Earnings-based measures are left out for now because many companies in Biotechnology are losing money.

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
Operating margin	62.5%	13.7%	63.4%	57.1%	65.6%	▲ 8.5 pts
Net margin	27.1%	1.9%	48.2%	37.9%	32.4%	▼ 5.5 pts
Return on assets (ROA)	3.5%	0.3%	6.9%	4.7%	3.9%	▼ 0.8 pts
Return on equity (ROE)	6.0%	0.4%	11.3%	8.3%	7.9%	▼ 0.4 pts
Current ratio	16.81×	2.19×	7.90×	1.44×	2.40×	▲ 67%
Debt to equity	0.69×	0.75×	0.61×	0.74×	0.92×	▲ 25%
Interest coverage	8.61×	1.63×	7.97×	5.73×	5.07×	▼ 12%

RPRX price history

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

Similar companies

Sector leaderboards

BB Biotech AGBBZA.DE100/ 100

Arbutus Biopharma CorporationABUS97/ 100

Q32 Bio Inc.QTTB97/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: growing more slowly than most peersgrowing more slowly than peers

Drawback: higher risk than most peers: more debt relative to equity (0.92× vs a peer median of 0.22×)higher risk: more debt vs equity (0.92× vs peers 0.22×)

About average: valuation

Ranks #625 of 1,157 healthcare companies (bottom 47%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 12% of revenue in 2025.

Royalty Pharma paid employees $290M in stock in 2025, 12% of its $2.4B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Cash flow well above reported profit. Free cash flow is 3.5× reported profit.

Free cash flow is 3.5× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Wide margins. Operating margin 60% (12 months to Jun 2026) vs a peer median of 7.1%.Operating margin 60% vs peers 7.1%.

Royalty Pharma keeps 60% of revenue as operating profit, more than 95% of peers (median 7.1%).

Questions investors ask about Royalty Pharma

Is Royalty Pharma getting weaker?

Its latest SEC filing (Aug 5, 2026) got weaker in some ways: operating margin fell 5.5 points to 59.6%. Its overall score is unchanged at 50/100 since Oct 28, 2026.

How is Royalty Pharma valued vs its peers?

Priced about in line with its peers. Valuation scores 50/100 against 1,393 healthcare peers.

Is Royalty Pharma growing?

More slowly than most of its peers. Growth scores 38/100 against 1,393 healthcare peers. Revenue growth 10.0% vs a peer median of 6.1% (stronger than 61% of peers).Revenue growth 10.0% vs peers 6.1% (stronger than 61% of peers). Earnings per share growth -19.9% vs a peer median of 9.8% (weaker than 70% of peers).Earnings per share growth -19.9% vs peers 9.8% (weaker than 70% of peers).

How profitable is Royalty Pharma?

More profitable than most of its peers. Profitability scores 80/100 against 1,393 healthcare peers. Operating margin 59.6% vs a peer median of 7.1% (stronger than 95% of peers).Operating margin 59.6% vs peers 7.1% (stronger than 95% of peers).

How risky is Royalty Pharma?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Beta 0.43 vs a peer median of 0.63 (stronger than 66% of peers).Beta 0.43 vs peers 0.63 (stronger than 66% of peers). Debt / equity 0.92× vs a peer median of 0.22× (weaker than 80% of peers).Debt / equity 0.92× vs peers 0.22× (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

2.4B USD

2.5B USD

+3.9%

Net income (12 months)

826.3M USD

812.0M USD

−1.7%

Operating margin

65.1%

59.6%

−5.5 pts

Debt

9.0B USD

9.0B USD

+0.1%

Cash

586.4M USD

812.0M USD

+38.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

62.5%

13.7%

63.4%

57.1%

65.6%

▲ 8.5 pts

Net margin

27.1%

1.9%

48.2%

37.9%

32.4%

▼ 5.5 pts

Return on assets (ROA)

3.5%

0.3%

6.9%

4.7%

3.9%

▼ 0.8 pts

Return on equity (ROE)

6.0%

0.4%

11.3%

8.3%

7.9%

▼ 0.4 pts

Current ratio

16.81×

2.19×

7.90×

1.44×

2.40×

▲ 67%

Debt to equity

0.69×

0.75×

0.61×

0.74×

0.92×

▲ 25%

Interest coverage

8.61×

1.63×

7.97×

5.73×

5.07×

▼ 12%