Alkermes PLC
ALKSHealthcare|Drug Manufacturers - Specialty & Generic|Ireland
$51.95
-1.82 (-3.39%)
DCF (FCF)
$20.11
Earnings Power
$12.19
Financials
Financial Snapshot
Market Cap
$8.66B
Enterprise Value
$-1.07B
Revenue (TTM)
$1.56B
Net Income (TTM)
$152.7M
Cash & Equivalents
—
Net Cash/Share
$-11.98
Free Cash Flow (TTM)
$221.8M
Operating CF (TTM)
$256.2M
Debt/Equity
0.9
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $497.2M | $433.5M | $539.3M | $535.0M | $635.0M | $536.3M | $608.5M | $773.5M | $751.7M | $588.2M | $511.9M | |
| Operating Cash Flow | $-63.8M | $19.2M | $99.3M | $72.1M | $82.8M | $101.7M | $21.0M | $401.4M | $439.1M | $520.8M | $256.2M | |
| Free Cash Flow | $-107.5M | $-32.1M | $29.9M | $-18.9M | $40.6M | $72.7M | $-17.2M | $353.3M | $405.6M | $480.3M | $221.8M | |
| Capital Expenditure | $-43.7M | $-51.3M | $-69.4M | $-90.9M | $-42.2M | $-29.0M | $-38.3M | $-48.0M | $-33.5M | $-40.4M | $-34.4M | |
| Financing Cash Flow | $-58.2M | $4.1M | $-1.6M | $6.8M | $-2.2M | $29.1M | $-1.6M | $-289.7M | $-494.1M | $12.4M | $1.49B |
R&D Spending
R&D (TTM)
$355.5M
R&D Intensity
22.8%
R&D Growth YoY
+9.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $745.7M | $903.4M | $1.09B | $1.17B | $1.04B | $1.17B | $1.11B | $1.66B | $1.56B | $1.48B | $1.56B | |
| R&D Expense | $387.1M | $412.9M | $425.4M | $512.8M | $394.6M | $290.9M | $272.7M | $270.8M | $245.3M | $324.0M | $355.5M | |
| R&D % of Revenue | 51.9% | 45.7% | 38.9% | 43.8% | 38.0% | 24.8% | 24.5% | 16.3% | 15.7% | 22.0% | 22.8% | |
| SG&A | $374.1M | $421.6M | $526.4M | $599.4M | $538.8M | $549.6M | $590.8M | $689.8M | $645.2M | $701.5M | $794.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $745.7M | $903.4M | $1.09B | $1.17B | $1.04B | $1.17B | $1.11B | $1.66B | $1.56B | $1.48B | $1.56B | |
| Cost of Goods Sold | $132.1M | $154.7M | $176.4M | $180.4M | $178.3M | $197.3M | $218.1M | $253.0M | $245.3M | $196.5M | $208.8M | |
| Gross Profit | $613.6M | $748.6M | $917.9M | $990.6M | $860.4M | $976.4M | $893.7M | $1.41B | $1.31B | $1.28B | $1.35B | |
| R&D | $387.1M | $412.9M | $425.4M | $512.8M | $394.6M | $290.9M | $272.7M | $270.8M | $245.3M | $324.0M | $355.5M | |
| SG&A | $374.1M | $421.6M | $526.4M | $599.4M | $538.8M | $549.6M | $590.8M | $689.8M | $645.2M | $701.5M | $794.4M | |
| Operating Income | $-208.7M | $-147.9M | $-99.1M | $-162.1M | $-112.4M | $97.7M | $-6.1M | $414.1M | $420.6M | $254.0M | $191.9M | |
| Interest Expense | $-14.9M | $-12.0M | $-15.4M | $-13.6M | $-8.7M | $-11.2M | $-13.0M | $-23.0M | $-22.6M | $-12.3M | $-33.2M | |
| Pretax Income | $-214.4M | $-143.3M | $-127.0M | $-197.1M | $-96.5M | $87.7M | $-31.1M | $421.5M | $443.8M | $291.4M | $204.0M | |
| Net Income | $-208.4M | $-157.9M | $-139.3M | $-196.6M | $-110.9M | $-48.2M | $-158.3M | $355.8M | $367.1M | $241.7M | $152.7M | |
| EPS (Diluted) | -1.38 | -1.03 | -0.90 | -1.25 | -0.70 | -0.30 | -0.97 | 2.10 | 2.17 | 1.43 | 0.90 | |
| EBITDA | $-105.2M | $-32.7M | $-7.9M | $-103.0M | $-6.0M | $177.6M | $59.8M | $519.5M | $494.9M | $330.9M | $276.4M | |
| Shares Out. (M) | 151.48 | 153.41 | 155.11 | 157.05 | 158.80 | 164.75 | 163.74 | 169.73 | 169.20 | 168.74 | 166.20 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $186.4M | $191.3M | $266.8M | $203.8M | $273.0M | $337.5M | $292.5M | $457.5M | $291.1M | $388.6M | $351.6M | |
| Marketable Securities | $310.9M | $242.2M | $272.5M | $331.2M | $362.1M | $198.8M | $316.0M | $316.0M | $460.5M | $199.6M | $160.3M | |
| Total Current Assets | $790.7M | $808.8M | $983.3M | $962.0M | $1.11B | $1.06B | $1.13B | $1.49B | $1.42B | $1.93B | $1.36B | |
| Total Assets | $1.73B | $1.80B | $1.83B | $1.81B | $1.95B | $2.02B | $1.96B | $2.14B | $2.06B | $2.49B | $4.26B | |
| Total Current Liabilities | $212.0M | $291.1M | $339.8M | $391.1M | $438.3M | $471.3M | $497.7M | $520.2M | $465.2M | $543.4M | $599.5M | |
| Long-Term Debt | $280.7M | $278.4M | $276.5M | $274.3M | $272.1M | $292.8M | $290.3M | $287.7M | $0.00 | $0.00 | $1.48B | |
| Total Liabilities | $516.9M | $594.4M | $653.7M | $720.0M | $882.7M | $911.9M | $920.2M | $933.5M | $590.6M | $667.7M | $2.51B | |
| Stockholders' Equity | $1.21B | $1.20B | $1.17B | $1.09B | $1.07B | $1.11B | $1.04B | $1.20B | $1.46B | $1.82B | $1.75B | |
| Retained Earnings | $-947.9M | $-1.04B | $-1.19B | $-1.38B | $-1.49B | $-1.54B | $-1.70B | $-1.34B | $-976.5M | $-734.8M | $-801.3M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-63.8M | $19.2M | $99.3M | $72.1M | $82.8M | $101.7M | $21.0M | $401.4M | $439.1M | $520.8M | $256.2M | |
| Capital Expenditure | $-43.7M | $-51.3M | $-69.4M | $-90.9M | $-42.2M | $-29.0M | $-38.3M | $-48.0M | $-33.5M | $-40.4M | $-34.4M | |
| Free Cash Flow | $-107.5M | $-32.1M | $29.9M | $-18.9M | $40.6M | $72.7M | $-17.2M | $353.3M | $405.6M | $480.3M | $221.8M | |
| Investing Cash Flow | $127.2M | $-18.4M | $-22.2M | $-141.8M | $-11.5M | $-66.2M | $-64.5M | $53.4M | $-111.3M | $295.5M | $-1.79B | |
| Financing Cash Flow | $-58.2M | $4.1M | $-1.6M | $6.8M | $-2.2M | $29.1M | $-1.6M | $-289.7M | $-494.1M | $12.4M | $1.49B | |
| Issuance of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-200.3M | $0.00 | $-27.7M | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $23.6M | $0.00 | $0.00 | $0.00 | $0.00 | $1.51B | |
| Payments of Debt | $-3.4M | $0.00 | $-743.0K | $-2.8M | $-2.8M | $-3.2M | $-3.0M | $-3.0M | $-291.8M | $0.00 | $0.00 | |
| Stock Based Comp. | $94.4M | $83.9M | $105.4M | $101.0M | $90.2M | $87.6M | $94.3M | $100.9M | $96.6M | $98.7M | $112.2M | |
| Net Change in Cash | $5.3M | $4.9M | $75.5M | $-63.0M | $69.2M | $64.6M | $-45.1M | $165.0M | $-166.3M | $828.6M | $-48.3M |
Dilution Tracker
Shares Outstanding
166M
5-Year Share Growth
+0.9%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 151.48 | 153.41 | 155.11 | 157.05 | 158.80 | 164.75 | 163.74 | 169.73 | 169.20 | 168.74 | 166.20 | |
| YoY Change % | — | 1.3% | 1.1% | 1.3% | 1.1% | 3.7% | -0.6% | 3.7% | -0.3% | -0.3% | -1.5% | |
| Stock Issuance | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-200.3M | $0.00 | $-27.7M | |
| Stock Based Comp. | $94.4M | $83.9M | $105.4M | $101.0M | $90.2M | $87.6M | $94.3M | $100.9M | $96.6M | $98.7M | $112.2M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 82.3% | 82.9% | 83.9% | 84.6% | 82.8% | 83.2% | 80.4% | 84.8% | 84.3% | 86.7% | 86.6% | |
| Operating Margin % | -28.0% | -16.4% | -9.1% | -13.8% | -10.8% | 8.3% | -0.5% | 24.9% | 27.0% | 17.2% | 12.3% | |
| Net Margin % | -28.0% | -17.5% | -12.7% | -16.8% | -10.7% | -4.1% | -14.2% | 21.4% | 23.6% | 16.4% | 9.8% | |
| EBITDA Margin % | -14.1% | -3.6% | -0.7% | -8.8% | -0.6% | 15.1% | 5.4% | 31.2% | 31.8% | 22.4% | 17.7% | |
| FCF Margin % | -14.4% | -3.6% | 2.7% | -1.6% | 3.9% | 6.2% | -1.5% | 21.2% | 26.0% | 32.5% | 14.2% | |
| ROE % | -16.5% | -13.1% | -11.7% | -17.4% | -10.3% | -4.4% | -14.7% | 31.7% | 27.5% | 14.7% | 9.1% | |
| ROA % | -11.6% | -9.0% | -7.7% | -10.8% | -5.9% | -2.4% | -7.9% | 17.4% | 17.5% | 10.6% | 5.7% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)57.72
Historical9.25 / 15.21 / 61.20
Industry Med.20.77
P/S5.59
Historical1.63 / 3.39 / 11.89
Industry Med.2.30
P/B4.94
Historical1.81 / 3.56 / 8.01
Industry Med.1.91
EV/EBITDA35.20
Historical-637.25 / 8.71 / 27344.95
Industry Med.12.99
EV/Revenue6.23
Historical1.47 / 3.15 / 11.56
Industry Med.2.45
P/FCF40.05
Historical9.11 / 32.07 / 1256.66
Industry Med.20.81
Intrinsic Value Models
DCF (FCF Based)
$20.11
Peter Lynch Value
$22.50
Median P/S Value
$31.94
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | 13.21 | 13.25 | 19.57 | 57.72 | |
| PS Ratio | 10.50 | 8.64 | 3.89 | 2.54 | 2.84 | 3.04 | 3.58 | 2.83 | 3.12 | 3.20 | 5.59 | |
| PB Ratio | 6.51 | 6.51 | 3.65 | 2.76 | 2.77 | 3.15 | 3.83 | 3.85 | 3.18 | 2.55 | 4.94 | |
| EV/EBITDA | -72.81 | -234.66 | -509.89 | -26.67 | -452.67 | 19.04 | 62.97 | 8.14 | 8.06 | 12.44 | 35.20 | |
| EV/Revenue | 10.28 | 8.51 | 3.67 | 2.35 | 2.63 | 2.88 | 3.39 | 2.54 | 2.56 | 2.79 | 6.23 |
Analyst Estimates & Quality
Altman Z-Score
2.57
Grey Zone
Piotroski F-Score
6
Moderate
Beneish M-Score
-1.40
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1,811M | $1,879M | $2,073M |
| Net Income | $-66M | $75M | $297M |
| EPS | -0.27 | 0.52 | 1.74 |
| Book Value per Share | 11.06 | 12.53 | 14.71 |
| Operating Cash Flow per Share | 2.58 | 1.95 | 2.52 |
| Operating CF | $428.79M | $323.53M | $417.98M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Developing, manufacturing and commercializing medicines designed to address unmet medical needs of | $1.48B |
By Geography
| Segment | 2025 |
|---|---|
| U.S. | $1.37B |
| Ireland | $754.0K |
| Rest of world | $102.4M |