VNDA Healthcare

Vanda Pharmaceuticals Inc.

$3.75-3.35%

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

Basics

Sector: Healthcare
Industry: Biotechnology
Country: United States
Market cap: 226.7M USD
Enterprise value: 79.5M USD
Full-time employees: 533

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: growing more slowly than most peersgrowing more slowly than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: less short-term liquidity (current ratio 1.61 vs a peer median of 2.59)less liquidity (current ratio 1.61 vs peers 2.59)
About average: risk (debt, liquidity and share-price swings)risk

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

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. -70% in 2025, the weakest of the last 6 years.
Vanda Pharmaceuticals's operating margin fell to -70% in 2025, its lowest 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, Vanda Pharmaceuticals 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.
Vanda Pharmaceuticals reported a net loss over the last twelve months, so earnings-based measures can't show it as cheap.

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: 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-121.2%

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-222.6%

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 yield-63.1%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingNegative (a loss or cash outflow), so it counts as zero whatever the share price20% base weight · Z-score 0.00Sector median: 0.0000 · MAD: 0.0000

Other data (not scored)

Book yield97.1%

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

Growth

Is it growing?

26/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

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 growthUnavailable

The loss per share widened33% base weight · Z-score -1.20Sector median: 0.0976 · MAD: 0.2991

3-year revenue growth-3.3%

SEC filings · 3 years to Jun 2026Reported value33% base weight · Z-score -1.08Sector median: 0.0584 · MAD: 0.0840

Revenue growth6.0%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.01Sector median: 0.0609 · MAD: 0.0974

Profitability

Does it earn well?

12/100

Weak

3/3 inputs reported · High confidence

Since last quarter: ▼ Weaker

Operating margin fell 12.4 points to -86.1%

Why

Weaker than most peers on:

▼ ROA
▼ ROIC
▼ Operating margin

Compare with peers

Behind the score

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

Operating margin-86.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -7.65Sector median: 0.0706 · MAD: 0.1217

Return on assets-66.6%

SEC filings · 12 months to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score -11.22Sector median: 0.0166 · MAD: 0.0537

Return on invested capital-89.3%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -9.36Sector median: 0.0471 · MAD: 0.1004

Other data (not scored)

Gross margin93.7%

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 equity-124.8%

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

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ 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.

Beta0.65

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -0.06Sector median: 0.6250 · MAD: 0.3380

Current ratio1.61×

SEC filings · latest balance sheetReported value33% base weight · Z-score -0.70Sector median: 2.5860 · MAD: 1.3850

Debt / equity0.10×

Yahoo Finance fallback · no standard SEC debt tagReported value33% base weight · Z-score 0.58Sector 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 Vanda Pharmaceuticals

Is Vanda Pharmaceuticals getting weaker?: Its latest SEC filing (Aug 6, 2026) got weaker in some ways: operating margin fell 12.4 points to -86.1%. Its overall score is unchanged at 24/100 since Oct 28, 2026.
How is Vanda Pharmaceuticals 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 -121.2% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -121.2% vs peers 1.5% (weaker than 100% of peers).
Is Vanda Pharmaceuticals growing?: More slowly than most of its peers. Growth scores 26/100 against 1,393 healthcare peers. 3-year revenue growth -3.3% vs a peer median of 5.8% (weaker than 79% of peers).3-year revenue growth -3.3% vs peers 5.8% (weaker than 79% of peers).
How profitable is Vanda Pharmaceuticals?: Less profitable than most of its peers. Profitability scores 12/100 against 1,393 healthcare peers. Return on assets -66.6% vs a peer median of 1.7% (weaker than 100% of peers).Return on assets -66.6% vs peers 1.7% (weaker than 100% of peers).
How risky is Vanda Pharmaceuticals?: Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.10× vs a peer median of 0.22× (stronger than 67% of peers).Debt / equity 0.10× vs peers 0.22× (stronger than 67% of peers). Current ratio 1.61× vs a peer median of 2.59× (weaker than 70% of peers).Current ratio 1.61× vs peers 2.59× (weaker than 70% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got weaker

Operating margin fell 12.4 points to -86.1%

Worth watching: Vanda Pharmaceuticals is in the bottom fifth of its sector on profitability. From 2021 to 2025, 63% of companies in that position posted a loss over the following year, against 4% for the top fifth.

	Previous quarter	Latest quarter	Change
Revenue (12 months)	217.8M USD	215.7M USD	−0.9%
Net income (12 months)	−239.6M USD	−274.9M USD	+14.7%
Operating margin	-73.6%	-86.1%	−12.4 pts
Free cash flow (12 months)	−127.3M USD	−143.0M USD	+12.3%
Cash	54.0M USD	55.9M USD	+3.4%
Shares outstanding	60.1M	60.5M	+0.5%

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	15.7%	2.5%	-7.2%	-20.5%	-70.0%	▼ 49 pts
Net margin	12.3%	2.5%	1.3%	-9.5%	-102.0%	▼ 93 pts
Return on assets (ROA)	5.6%	1.0%	0.4%	-2.9%	-45.1%	▼ 42 pts
Return on equity (ROE)	6.6%	1.2%	0.5%	-3.5%	-67.4%	▼ 64 pts
Free cash flow margin	23.7%	12.3%	6.4%	-8.2%	-51.1%	▼ 43 pts
Current ratio	6.43×	5.68×	4.94×	4.39×	2.39×	▼ 46%
Quick ratio	6.41×	5.67×	4.92×	4.37×	2.38×	▼ 46%

VNDA 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: less profitable than most peersless profitable than peers

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

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

Drawback: less short-term liquidity (current ratio 1.61 vs a peer median of 2.59)less liquidity (current ratio 1.61 vs peers 2.59)

About average: risk (debt, liquidity and share-price swings)risk

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

See how it ranks against its peers

Worth knowing

Operating margin at a 6-year low. -70% in 2025, the weakest of the last 6 years.

Vanda Pharmaceuticals's operating margin fell to -70% in 2025, its lowest 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, Vanda Pharmaceuticals 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.

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

Questions investors ask about Vanda Pharmaceuticals

Is Vanda Pharmaceuticals getting weaker?

Its latest SEC filing (Aug 6, 2026) got weaker in some ways: operating margin fell 12.4 points to -86.1%. Its overall score is unchanged at 24/100 since Oct 28, 2026.

How is Vanda Pharmaceuticals 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 -121.2% vs a peer median of 1.5% (weaker than 100% of peers).Earnings yield -121.2% vs peers 1.5% (weaker than 100% of peers).

Is Vanda Pharmaceuticals growing?

More slowly than most of its peers. Growth scores 26/100 against 1,393 healthcare peers. 3-year revenue growth -3.3% vs a peer median of 5.8% (weaker than 79% of peers).3-year revenue growth -3.3% vs peers 5.8% (weaker than 79% of peers).

How profitable is Vanda Pharmaceuticals?

Less profitable than most of its peers. Profitability scores 12/100 against 1,393 healthcare peers. Return on assets -66.6% vs a peer median of 1.7% (weaker than 100% of peers).Return on assets -66.6% vs peers 1.7% (weaker than 100% of peers).

How risky is Vanda Pharmaceuticals?

Moderate risk relative to 1,393 healthcare peers, judged on debt, liquidity and share-price swings. Debt / equity 0.10× vs a peer median of 0.22× (stronger than 67% of peers).Debt / equity 0.10× vs peers 0.22× (stronger than 67% of peers). Current ratio 1.61× vs a peer median of 2.59× (weaker than 70% of peers).Current ratio 1.61× vs peers 2.59× (weaker than 70% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

217.8M USD

215.7M USD

−0.9%

Net income (12 months)

−239.6M USD

−274.9M USD

+14.7%

Operating margin

-73.6%

-86.1%

−12.4 pts

Free cash flow (12 months)

−127.3M USD

−143.0M USD

+12.3%

Cash

54.0M USD

55.9M USD

+3.4%

Shares outstanding

60.1M

60.5M

+0.5%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Operating margin

15.7%

2.5%

-7.2%

-20.5%

-70.0%

▼ 49 pts

Net margin

12.3%

2.5%

1.3%

-9.5%

-102.0%

▼ 93 pts

Return on assets (ROA)

5.6%

1.0%

0.4%

-2.9%

-45.1%

▼ 42 pts

Return on equity (ROE)

6.6%

1.2%

0.5%

-3.5%

-67.4%

▼ 64 pts

Free cash flow margin

23.7%

12.3%

6.4%

-8.2%

-51.1%

▼ 43 pts

Current ratio

6.43×

5.68×

4.94×

4.39×

2.39×

▼ 46%

Quick ratio

6.41×

5.67×

4.92×

4.37×

2.38×

▼ 46%