TVTX Healthcare

Travere Therapeutics, Inc.

$49.41+0.30%

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

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 4.7B USD
Enterprise value: 4.8B USD
Full-time employees: 497

Overall health

Strength: growing faster than most peersgrowing faster than peers
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: its share price swings more than most peers’ (beta 1.06 vs a peer median of 0.63) and more debt relative to equity (25.16× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.06 vs peers 0.63) and more debt vs equity (25.16× vs peers 0.22×)

Ranks #798 of 1,157 healthcare companies (bottom 32%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 47% from December 2022 to July 2026.
Travere Therapeutics had 47% 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.Travere Therapeutics had 47% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.
Much more borrowing than peers. Debt is 25.2× equity vs a peer median of 0.2×.Debt is 25.2× equity vs peers 0.2×.
Debt is 25.2× shareholders' equity, against a peer median of 0.2×, among the highest 10% of its peer group.Debt is 25.2× shareholders' equity, vs peers 0.2×, among the highest 10% of its peer group.
Operating loss narrowing. Operating margin -13% in 2025, the smallest loss relative to revenue of the last 6 years.
Travere Therapeutics still lost money on operations in 2025 (margin -13%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 50% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Travere 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.

StockQuotient Score

42/ 100

Oct 5 42 → Nov 4 42

Valuation

Is the price right?

30/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation 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-0.9%

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 yield0.5%

Yahoo Finance fallback · SEC enterprise value unavailable (debt or EBITDA not reported in standard form) · trailing 12 monthsReported value50% base weight · Z-score -0.88Sector median: 0.0401 · MAD: 0.0401

Free cash flow yield0.3%

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 yield0.5%

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

Growth

Is it growing?

95/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 10.3%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

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 growth103.8%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 8.59Sector median: 0.0584 · MAD: 0.0840

Revenue growth77.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 7.29Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

34/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

Operating margin rose 3.8 points to -6.8%

Why

Weaker than most peers on:

▼ Operating margin
▼ ROA

Compare with peers

Behind the score

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

Operating margin-6.8%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.14Sector median: 0.0706 · MAD: 0.1217

Return on assets-5.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.32Sector median: 0.0166 · MAD: 0.0537

Return on invested capital7.2%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 0.24Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin98.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 0% composite weightSector median: 0.4697 · MAD: 0.2310

Return on equity-177.2%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentileInformational · 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
▼ Beta

Compare with peers

Behind the score

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

Beta1.06

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.28Sector median: 0.6250 · MAD: 0.3380

Current ratio4.05×

SEC filings · latest balance sheetReported value33% base weight · Z-score 1.05Sector median: 2.5860 · MAD: 1.3850

Debt / equity25.16×

Yahoo Finance fallback · no standard SEC debt tagOutlier capped at sector 5th/95th percentile33% base weight · Z-score -9.77Sector 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 Travere Therapeutics

Is Travere Therapeutics getting weaker?: Its latest SEC filing (Aug 4, 2026) got stronger: operating margin rose 3.8 points to -6.8%. Its overall score is unchanged at 42/100 since Oct 28, 2026.
How is Travere Therapeutics valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 30/100 against 1,393 healthcare peers. Earnings yield -0.9% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -0.9% vs peers 1.5% (weaker than 100% of peers).
Is Travere Therapeutics growing?: Yes, faster than most of its peers. Growth scores 95/100 against 1,393 healthcare peers. 3-year revenue growth 103.8% vs a peer median of 5.8% (stronger than 95% of peers).3-year revenue growth 103.8% vs peers 5.8% (stronger than 95% of peers).
How profitable is Travere Therapeutics?: Less profitable than most of its peers. Profitability scores 34/100 against 1,393 healthcare peers. Operating margin -6.8% vs a peer median of 7.1% (weaker than 72% of peers).Operating margin -6.8% vs peers 7.1% (weaker than 72% of peers).
How risky is Travere Therapeutics?: Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.05× vs a peer median of 2.59× (stronger than 66% of peers).Current ratio 4.05× vs peers 2.59× (stronger than 66% of peers). Debt / equity 25.16× vs a peer median of 0.22× (weaker than 100% of peers).Debt / equity 25.16× vs peers 0.22× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 4, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Operating margin rose 3.8 points to -6.8%

	Previous quarter	Latest quarter	Change
Revenue (12 months)	536.2M USD	591.3M USD	+10.3%
Net income (12 months)	−21.4M USD	−43.5M USD	+102.9%
Operating margin	-10.6%	-6.8%	+3.8 pts
Cash	78.4M USD	117.7M USD	+50.2%
Shares outstanding	93.0M	94.3M	+1.4%

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
Gross margin	97.1%	96.0%	92.1%	96.7%	97.9%	▲ 1.2 pts
Operating margin	-151.3%	-292.2%	-267.2%	-138.9%	-12.8%	▲ 126 pts
Net margin	-136.6%	-254.4%	-76.7%	-137.9%	-5.2%	▲ 133 pts
Return on assets (ROA)	-23.2%	-41.4%	-14.1%	-54.1%	-4.2%	▲ 50 pts
Return on equity (ROE)	-59.6%	-649.9%	-55.5%	-544.3%	-22.2%	▲ 522 pts
Free cash flow margin	-15.1%	-170.4%	-193.3%	—	—	—
Current ratio	4.70×	3.42×	3.47×	2.08×	2.74×	▲ 32%
Quick ratio	4.64×	3.39×	3.41×	1.87×	2.51×	▲ 34%
Interest coverage	-10.12×	-29.07×	-34.35×	-28.96×	-5.85×	▲ 80%

TVTX 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

Strength: growing faster than most peersgrowing faster than peers

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: its share price swings more than most peers’ (beta 1.06 vs a peer median of 0.63) and more debt relative to equity (25.16× vs a peer median of 0.22×)higher risk: bigger price swings (beta 1.06 vs peers 0.63) and more debt vs equity (25.16× vs peers 0.22×)

Ranks #798 of 1,157 healthcare companies (bottom 32%)

See how it ranks against its peers

Worth knowing

Shareholders being diluted. Shares outstanding up 47% from December 2022 to July 2026.

Travere Therapeutics had 47% 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.Travere Therapeutics had 47% more shares at July 2026 than at December 2022, mostly from issuing stock. Each existing share now owns a smaller slice of the business.

Much more borrowing than peers. Debt is 25.2× equity vs a peer median of 0.2×.Debt is 25.2× equity vs peers 0.2×.

Debt is 25.2× shareholders' equity, against a peer median of 0.2×, among the highest 10% of its peer group.Debt is 25.2× shareholders' equity, vs peers 0.2×, among the highest 10% of its peer group.

Operating loss narrowing. Operating margin -13% in 2025, the smallest loss relative to revenue of the last 6 years.

Travere Therapeutics still lost money on operations in 2025 (margin -13%), but that was its smallest operating loss relative to revenue in the 6 years of filings we have.

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

Relative to its free cash flow, Travere 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.

Questions investors ask about Travere Therapeutics

Is Travere Therapeutics getting weaker?

Its latest SEC filing (Aug 4, 2026) got stronger: operating margin rose 3.8 points to -6.8%. Its overall score is unchanged at 42/100 since Oct 28, 2026.

How is Travere Therapeutics valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 30/100 against 1,393 healthcare peers. Earnings yield -0.9% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -0.9% vs peers 1.5% (weaker than 100% of peers).

Is Travere Therapeutics growing?

Yes, faster than most of its peers. Growth scores 95/100 against 1,393 healthcare peers. 3-year revenue growth 103.8% vs a peer median of 5.8% (stronger than 95% of peers).3-year revenue growth 103.8% vs peers 5.8% (stronger than 95% of peers).

How profitable is Travere Therapeutics?

Less profitable than most of its peers. Profitability scores 34/100 against 1,393 healthcare peers. Operating margin -6.8% vs a peer median of 7.1% (weaker than 72% of peers).Operating margin -6.8% vs peers 7.1% (weaker than 72% of peers).

How risky is Travere Therapeutics?

Higher risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Current ratio 4.05× vs a peer median of 2.59× (stronger than 66% of peers).Current ratio 4.05× vs peers 2.59× (stronger than 66% of peers). Debt / equity 25.16× vs a peer median of 0.22× (weaker than 100% of peers).Debt / equity 25.16× vs peers 0.22× (weaker than 100% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

536.2M USD

591.3M USD

+10.3%

Net income (12 months)

−21.4M USD

−43.5M USD

+102.9%

Operating margin

-10.6%

-6.8%

+3.8 pts

Cash

78.4M USD

117.7M USD

+50.2%

Shares outstanding

93.0M

94.3M

+1.4%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

97.1%

96.0%

92.1%

96.7%

97.9%

▲ 1.2 pts

Operating margin

-151.3%

-292.2%

-267.2%

-138.9%

-12.8%

▲ 126 pts

Net margin

-136.6%

-254.4%

-76.7%

-137.9%

-5.2%

▲ 133 pts

Return on assets (ROA)

-23.2%

-41.4%

-14.1%

-54.1%

-4.2%

▲ 50 pts

Return on equity (ROE)

-59.6%

-649.9%

-55.5%

-544.3%

-22.2%

▲ 522 pts

Free cash flow margin

-15.1%

-170.4%

-193.3%

—

Current ratio

4.70×

3.42×

3.47×

2.08×

2.74×

▲ 32%

Quick ratio

4.64×

3.39×

3.41×

1.87×

2.51×

▲ 34%

Interest coverage

-10.12×

-29.07×

-34.35×

-28.96×

-5.85×

▲ 80%