Collegium Pharmaceutical Inc
COLLHealthcare|Drug Manufacturers - Specialty & Generic|USA
$35.22
-0.59 (-1.65%)
DCF (FCF)
$54.10
Earnings Power
$22.35
Financials
Financial Snapshot
Market Cap
$1.14B
Enterprise Value
$-386.3M
Revenue (TTM)
$796.3M
Net Income (TTM)
$74.9M
Cash & Equivalents
—
Net Cash/Share
$-28.32
Free Cash Flow (TTM)
$329.8M
Operating CF (TTM)
$331.0M
Debt/Equity
2.59
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $153.2M | $118.7M | $146.6M | $170.0M | $174.1M | $186.4M | $173.7M | $310.5M | $162.8M | $386.7M | $421.8M | |
| Operating Cash Flow | $-75.1M | $-67.0M | $169.4M | $27.8M | $93.9M | $103.6M | $124.2M | $274.7M | $205.0M | $329.3M | $331.0M | |
| Free Cash Flow | $-78.0M | $-68.0M | $145.0M | $21.3M | $-279.8M | $101.6M | $122.6M | $274.3M | $203.3M | $327.6M | $329.8M | |
| Capital Expenditure | $-3.0M | $-990.0K | $-24.4M | $-6.4M | $-373.8M | $-1.9M | $-1.6M | $-461.0K | $-1.7M | $-1.7M | $-1.2M | |
| Financing Cash Flow | $135.6M | $33.5M | $-117.2M | $2.0M | $286.5M | $-89.3M | $436.7M | $-140.2M | $-60.6M | $-110.2M | $-106.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.7M | $28.5M | $280.4M | $296.7M | $310.0M | $276.9M | $463.9M | $566.8M | $631.4M | $780.6M | $796.3M | |
| Cost of Goods Sold | $213.0K | $2.6M | $165.7M | $193.7M | $130.2M | $126.3M | $254.4M | $240.6M | $254.1M | $317.3M | $313.2M | |
| Gross Profit | $1.5M | $25.9M | $114.7M | $103.0M | $179.8M | $150.6M | $209.5M | $326.2M | $377.3M | $463.3M | $483.2M | |
| R&D | $14.9M | $8.6M | $8.7M | $10.3M | $9.8M | $9.5M | $4.0M | $0.00 | $0.00 | $0.00 | $0.00 | |
| SG&A | $80.6M | $92.8M | $126.8M | $116.4M | $113.8M | $119.0M | $172.2M | $159.2M | $210.4M | $284.8M | $294.7M | |
| Operating Income | $-94.1M | $-75.4M | $-20.7M | $-23.7M | $56.2M | $22.2M | $33.3M | $167.0M | $167.0M | $178.5M | $188.4M | |
| Interest Expense | $-94.0K | $0.00 | $-20.1M | $-909.0K | $-28.9M | $-21.0M | $-63.2M | $-83.3M | $-74.0M | $-82.3M | $-77.4M | |
| Pretax Income | $-94.2M | $-74.9M | $-39.1M | $-22.7M | $27.6M | $-3.4M | $-28.8M | $75.7M | $98.6M | $92.6M | $108.2M | |
| Net Income | $-94.2M | $-74.9M | $-39.1M | $-22.7M | $26.8M | $71.5M | $-25.0M | $48.2M | $69.2M | $62.9M | $74.9M | |
| EPS (Diluted) | -3.88 | -2.47 | -1.19 | -0.68 | 0.76 | 1.86 | -0.74 | 1.29 | 1.86 | 1.73 | 2.04 | |
| EBITDA | $-93.4M | $-74.3M | $91.9M | $-6.3M | $118.0M | $86.6M | $173.3M | $308.3M | $341.7M | $401.0M | $411.1M | |
| Shares Out. (M) | 24.26 | 30.27 | 32.95 | 33.45 | 35.15 | 41.05 | 33.83 | 41.79 | 40.42 | 39.70 | 40.07 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $153.2M | $118.7M | $146.6M | $170.0M | $174.1M | $186.4M | $173.7M | $238.9M | $70.6M | $231.3M | $268.6M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $71.6M | $92.2M | $155.4M | $153.1M | |
| Total Current Assets | $158.6M | $133.5M | $237.5M | $255.7M | $277.9M | $315.5M | $420.0M | $537.6M | $482.3M | $691.4M | $745.7M | |
| Total Assets | $162.0M | $135.6M | $291.2M | $306.3M | $643.8M | $692.1M | $1.17B | $1.14B | $1.66B | $1.66B | $1.65B | |
| Total Current Liabilities | $25.6M | $31.5M | $189.1M | $201.8M | $239.5M | $279.6M | $433.7M | $457.9M | $509.5M | $440.0M | $435.0M | |
| Long-Term Debt | $1.5M | $0.00 | $9.9M | $7.7M | $209.6M | $201.6M | $538.5M | $483.8M | $787.9M | $780.3M | $770.2M | |
| Total Liabilities | $27.1M | $31.5M | $199.7M | $218.9M | $457.8M | $489.1M | $979.3M | $947.9M | $1.43B | $1.36B | $1.34B | |
| Stockholders' Equity | $134.9M | $104.1M | $91.6M | $87.4M | $186.0M | $202.9M | $194.8M | $195.4M | $228.8M | $301.7M | $312.4M | |
| Retained Earnings | $-223.2M | $-298.0M | $-337.2M | $-359.9M | $-333.1M | $-256.3M | $-281.3M | $-233.2M | $-164.0M | $-101.1M | $-86.6M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-75.1M | $-67.0M | $169.4M | $27.8M | $93.9M | $103.6M | $124.2M | $274.7M | $205.0M | $329.3M | $331.0M | |
| Capital Expenditure | $-3.0M | $-990.0K | $-24.4M | $-6.4M | $-373.8M | $-1.9M | $-1.6M | $-461.0K | $-1.7M | $-1.7M | $-1.2M | |
| Free Cash Flow | $-78.0M | $-68.0M | $145.0M | $21.3M | $-279.8M | $101.6M | $122.6M | $274.3M | $203.3M | $327.6M | $329.8M | |
| Investing Cash Flow | $-3.0M | $-990.0K | $-24.4M | $-6.4M | $-373.8M | $-1.9M | $-573.7M | $-70.8M | $-287.8M | $-63.5M | $-52.2M | |
| Financing Cash Flow | $135.6M | $33.5M | $-117.2M | $2.0M | $286.5M | $-89.3M | $436.7M | $-140.2M | $-60.6M | $-110.2M | $-106.4M | |
| Issuance of Stock | $137.3M | $34.3M | $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 | $-30.0K | $0.00 | $0.00 | $-47.9M | $-14.1M | $-75.0M | $-60.0M | $-25.1M | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $10.0M | $0.00 | $330.4M | $0.00 | $517.7M | $235.2M | $313.2M | $565.2M | $565.2M | |
| Payments of Debt | $-2.7M | $-2.7M | $0.00 | $0.00 | $-49.0M | $-50.0M | $-75.0M | $-301.1M | $-305.7M | $-635.6M | $-626.7M | |
| Stock Based Comp. | $5.8M | $7.9M | $13.8M | $16.5M | $21.9M | $24.3M | $22.9M | $27.1M | $32.4M | $41.9M | $41.3M | |
| Net Change in Cash | $57.5M | $-34.5M | $27.8M | $23.4M | $6.6M | $12.3M | $-12.7M | $63.8M | $-143.4M | $155.5M | $172.5M |
Dilution Tracker
Shares Outstanding
40M
5-Year Share Growth
-2.4%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 24.26 | 30.27 | 32.95 | 33.45 | 35.15 | 41.05 | 33.83 | 41.79 | 40.42 | 39.70 | 40.07 | |
| YoY Change % | — | 24.7% | 8.9% | 1.5% | 5.1% | 16.8% | -17.6% | 23.5% | -3.3% | -1.8% | 0.9% | |
| Stock Issuance | $137.3M | $34.3M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $-30.0K | $0.00 | $0.00 | $-47.9M | $-14.1M | $-75.0M | $-60.0M | $-25.1M | $0.00 | |
| Stock Based Comp. | $5.8M | $7.9M | $13.8M | $16.5M | $21.9M | $24.3M | $22.9M | $27.1M | $32.4M | $41.9M | $41.3M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 87.6% | 90.9% | 40.9% | 34.7% | 58.0% | 54.4% | 45.2% | 57.5% | 59.8% | 59.3% | 60.7% | |
| Operating Margin % | -5498.7% | -264.9% | -7.4% | -8.0% | 18.1% | 8.0% | 7.2% | 29.5% | 26.4% | 22.9% | 23.7% | |
| Net Margin % | -5504.1% | -262.9% | -14.0% | -7.7% | 8.6% | 25.8% | -5.4% | 8.5% | 11.0% | 8.1% | 9.4% | |
| EBITDA Margin % | -5460.4% | -260.8% | 32.8% | -2.1% | 38.1% | 31.3% | 37.4% | 54.4% | 54.1% | 51.4% | 51.6% | |
| FCF Margin % | -4560.5% | -238.8% | 51.7% | 7.2% | -90.3% | 36.7% | 26.4% | 48.4% | 32.2% | 42.0% | 41.4% | |
| ROE % | -85.6% | -62.7% | -40.0% | -25.4% | 19.6% | 36.8% | -12.6% | 24.7% | 32.6% | 23.7% | 27.6% | |
| ROA % | -72.5% | -50.3% | -18.3% | -7.6% | 5.6% | 10.7% | -2.7% | 4.2% | 4.9% | 3.8% | 4.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)17.26
Historical6.53 / 19.47 / 205.20
Industry Med.20.77
P/S1.76
Historical1.17 / 2.26 / 1132.94
Industry Med.2.30
P/B3.65
Historical2.09 / 4.44 / 9.80
Industry Med.1.91
EV/EBITDA3.72
Historical-112.18 / 5.89 / 64.57
Industry Med.12.99
EV/Revenue1.92
Historical0.75 / 2.96 / 896.14
Industry Med.2.45
P/FCF4.26
Historical3.08 / 6.20 / 40.14
Industry Med.20.81
Intrinsic Value Models
DCF (FCF Based)
$54.10
Peter Lynch Value
$158.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | At Loss | At Loss | At Loss | At Loss | 26.36 | 10.04 | At Loss | 23.86 | 15.40 | 26.76 | 17.26 | |
| PS Ratio | 219.30 | 19.62 | 2.02 | 2.32 | 2.27 | 2.77 | 1.69 | 2.27 | 1.83 | 2.35 | 1.76 | |
| PB Ratio | 3.39 | 5.81 | 6.24 | 7.93 | 3.73 | 3.10 | 4.03 | 5.02 | 3.94 | 4.87 | 3.65 | |
| EV/EBITDA | -3.30 | -6.57 | 4.74 | -86.05 | 6.66 | 8.10 | 7.62 | 4.36 | 4.67 | 4.73 | 3.72 | |
| EV/Revenue | 180.08 | 17.13 | 1.56 | 1.84 | 2.53 | 2.53 | 2.85 | 2.37 | 2.53 | 2.43 | 1.92 |
Analyst Estimates & Quality
Altman Z-Score
1.52
Distress
Piotroski F-Score
7
Strong
Beneish M-Score
-3.22
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $874.3M | $900.7M | $825.4M |
| Net Income | $304.0M | $294.8M | $259.1M |
| EPS | 2.66 | 3.73 | 4.10 |
| Book Value per Share | 10.79 | 15.40 | 0.00 |
| Operating Cash Flow per Share | 0.00 | 0.00 | 0.00 |
| Operating CF | $0.00M | $0.00M | $0.00M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Belbuca | $221.7M |
| Jornay PM | $148.9M |
| Nucynta Extended-release (ER) | $81.0M |
| Nucynta Immediate-release (IR) | $115.3M |
| Symproic | $14.5M |
| Xtampza Extended-release (ER) | $199.3M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $780.6M |