Corcept Therapeutics Inc
CORTHealthcare|Biotechnology|USA
$91.88
-1.37 (-1.47%)
DCF (FCF)
$25.10
Tangible Book
$5.94
Graham Number
$6.84
Earnings Power
$19.15
Financials
Financial Snapshot
Market Cap
$9.86B
Enterprise Value
$328.5M
Revenue (TTM)
$769.1M
Net Income (TTM)
$47.3M
Cash & Equivalents
—
Net Cash/Share
$1.50
Free Cash Flow (TTM)
$120.1M
Operating CF (TTM)
$120.5M
Debt/Equity
0.02
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $51.5M | $88.7M | $206.8M | $276.0M | $440.7M | $223.5M | $431.7M | $368.2M | $383.3M | $372.2M | $338.2M | |
| Operating Cash Flow | $18.4M | $60.9M | $115.7M | $136.1M | $152.0M | $167.9M | $120.3M | $126.7M | $198.3M | $142.0M | $120.5M | |
| Free Cash Flow | $18.2M | $60.5M | $115.4M | $135.0M | $150.7M | $167.4M | $119.9M | $126.5M | $196.1M | $141.8M | $120.1M | |
| Capital Expenditure | $-194.0K | $-419.0K | $-298.0K | $-1.1M | $-1.2M | $-469.0K | $-413.0K | $-139.0K | $-2.2M | $-211.0K | $-308.0K | |
| Financing Cash Flow | $-7.1M | $-8.0M | $-14.3M | $-28.6M | $12.2M | $-302.6M | $-17.3M | $-148.7M | $-28.3M | $-220.4M | $-179.8M |
R&D Spending
R&D (TTM)
$260.4M
R&D Intensity
33.9%
R&D Growth YoY
+2.2%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.3M | $159.2M | $251.2M | $306.5M | $353.9M | $366.0M | $401.9M | $482.4M | $675.0M | $761.4M | $769.1M | |
| R&D Expense | $23.8M | $40.4M | $75.2M | $89.0M | $114.8M | $113.9M | $131.0M | $184.4M | $246.9M | $254.9M | $260.4M | |
| R&D % of Revenue | 29.3% | 25.4% | 29.9% | 29.0% | 32.4% | 31.1% | 32.6% | 38.2% | 36.6% | 33.5% | 33.9% | |
| SG&A | $45.2M | $62.4M | $81.3M | $100.4M | $105.3M | $122.4M | $152.8M | $184.3M | $280.3M | $448.7M | $503.4M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $81.3M | $159.2M | $251.2M | $306.5M | $353.9M | $366.0M | $401.9M | $482.4M | $675.0M | $761.4M | $769.1M | |
| Cost of Goods Sold | $2.1M | $3.6M | $5.2M | $5.5M | $5.6M | $5.3M | $5.4M | $6.5M | $10.9M | $13.0M | $13.5M | |
| Gross Profit | $79.3M | $155.6M | $246.0M | $301.0M | $348.3M | $360.7M | $396.5M | $475.9M | $664.2M | $748.4M | $755.6M | |
| R&D | $23.8M | $40.4M | $75.2M | $89.0M | $114.8M | $113.9M | $131.0M | $184.4M | $246.9M | $254.9M | $260.4M | |
| SG&A | $45.2M | $62.4M | $81.3M | $100.4M | $105.3M | $122.4M | $152.8M | $184.3M | $280.3M | $448.7M | $503.4M | |
| Operating Income | $10.2M | $52.9M | $89.5M | $111.6M | $128.2M | $124.5M | $112.6M | $107.3M | $137.0M | $44.8M | $-8.2M | |
| Interest Expense | $-2.0M | $-49.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $8.1M | $52.8M | $92.2M | $116.7M | $131.6M | $125.0M | $116.2M | $124.6M | $161.5M | $66.5M | $12.1M | |
| Net Income | $8.1M | $129.1M | $75.4M | $94.2M | $106.0M | $112.5M | $101.4M | $106.1M | $141.2M | $99.7M | $47.3M | |
| EPS (Diluted) | 0.07 | 1.04 | 0.60 | 0.77 | 0.85 | 0.89 | 0.87 | 0.94 | 1.23 | 0.82 | 0.35 | |
| EBITDA | $10.3M | $53.0M | $89.7M | $113.8M | $130.4M | $128.0M | $116.1M | $109.6M | $138.3M | $46.7M | $-6.2M | |
| Shares Out. (M) | 116.14 | 124.52 | 126.69 | 122.57 | 124.19 | 125.96 | 115.97 | 111.74 | 113.48 | 119.99 | 104.44 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $51.5M | $31.1M | $41.6M | $31.3M | $76.2M | $77.6M | $66.3M | $135.6M | $127.7M | $120.5M | $108.7M | |
| Marketable Securities | $0.00 | $57.7M | $165.1M | $244.7M | $364.5M | $145.9M | $365.3M | $232.7M | $255.7M | $251.7M | $229.4M | |
| Total Current Assets | $65.7M | $124.2M | $236.8M | $307.4M | $478.5M | $266.5M | $499.3M | $458.6M | $471.6M | $485.5M | $426.0M | |
| Total Assets | $68.8M | $220.5M | $311.7M | $412.3M | $571.7M | $423.8M | $583.4M | $621.5M | $840.6M | $836.7M | $814.9M | |
| Total Current Liabilities | $27.4M | $29.6M | $35.6M | $38.8M | $47.5M | $47.5M | $72.5M | $104.5M | $140.8M | $166.1M | $149.2M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $27.4M | $29.6M | $35.8M | $41.1M | $48.4M | $48.0M | $81.6M | $114.8M | $161.0M | $188.8M | $176.9M | |
| Stockholders' Equity | $41.4M | $191.0M | $275.9M | $371.2M | $523.3M | $375.8M | $501.8M | $506.7M | $679.6M | $647.8M | $638.0M | |
| Retained Earnings | $-322.3M | $-193.1M | $-117.7M | $-23.6M | $82.5M | $195.0M | $296.4M | $402.5M | $543.7M | $643.4M | $611.6M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $18.4M | $60.9M | $115.7M | $136.1M | $152.0M | $167.9M | $120.3M | $126.7M | $198.3M | $142.0M | $120.5M | |
| Capital Expenditure | $-194.0K | $-419.0K | $-298.0K | $-1.1M | $-1.2M | $-469.0K | $-413.0K | $-139.0K | $-2.2M | $-211.0K | $-308.0K | |
| Free Cash Flow | $18.2M | $60.5M | $115.4M | $135.0M | $150.7M | $167.4M | $119.9M | $126.5M | $196.1M | $141.8M | $120.1M | |
| Investing Cash Flow | $-194.0K | $-73.5M | $-90.8M | $-117.8M | $-119.3M | $136.1M | $-114.3M | $90.9M | $-177.6M | $69.8M | $77.5M | |
| Financing Cash Flow | $-7.1M | $-8.0M | $-14.3M | $-28.6M | $12.2M | $-302.6M | $-17.3M | $-148.7M | $-28.3M | $-220.4M | $-179.8M | |
| 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 | $-23.7M | $-31.0M | $-9.9M | $-296.0M | $0.00 | $-145.4M | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-14.8M | $-15.1M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $7.1M | $13.4M | $23.7M | $29.3M | $33.5M | $42.9M | $42.4M | $48.9M | $61.4M | $84.5M | $85.7M | |
| Net Change in Cash | $11.1M | $-20.5M | $10.6M | $-10.4M | $44.9M | $1.4M | $-11.3M | $69.2M | $-7.9M | $-7.2M | $18.9M |
Dilution Tracker
Shares Outstanding
104M
5-Year Share Growth
-17.1%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 116.14 | 124.52 | 126.69 | 122.57 | 124.19 | 125.96 | 115.97 | 111.74 | 113.48 | 119.99 | 104.44 | |
| YoY Change % | — | 7.2% | 1.7% | -3.3% | 1.3% | 1.4% | -7.9% | -3.6% | 1.6% | 5.7% | -13.0% | |
| 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 | $-23.7M | $-31.0M | $-9.9M | $-296.0M | $0.00 | $-145.4M | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $7.1M | $13.4M | $23.7M | $29.3M | $33.5M | $42.9M | $42.4M | $48.9M | $61.4M | $84.5M | $85.7M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 97.5% | 97.8% | 97.9% | 98.2% | 98.4% | 98.6% | 98.7% | 98.7% | 98.4% | 98.3% | 98.3% | |
| Operating Margin % | 12.5% | 33.2% | 35.6% | 36.4% | 36.2% | 34.0% | 28.0% | 22.2% | 20.3% | 5.9% | -1.1% | |
| Net Margin % | 10.0% | 81.1% | 30.0% | 30.7% | 30.0% | 30.7% | 25.2% | 22.0% | 20.9% | 13.1% | 6.2% | |
| EBITDA Margin % | 12.6% | 33.3% | 35.7% | 37.1% | 36.9% | 35.0% | 28.9% | 22.7% | 20.5% | 6.1% | -0.8% | |
| FCF Margin % | 22.4% | 38.0% | 45.9% | 44.1% | 42.6% | 45.7% | 29.8% | 26.2% | 29.1% | 18.6% | 15.6% | |
| ROE % | 27.2% | 111.1% | 32.3% | 29.1% | 23.7% | 25.0% | 23.1% | 21.0% | 23.8% | 15.0% | 7.3% | |
| ROA % | 13.5% | 89.3% | 28.3% | 26.0% | 21.5% | 22.6% | 20.1% | 17.6% | 19.3% | 11.9% | 5.7% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)262.51
Historical9.77 / 27.62 / 649.00
Industry Med.27.41
P/S13.89
Historical4.10 / 7.81 / 21.35
Industry Med.9.51
P/B15.46
Historical3.17 / 6.09 / 34.47
Industry Med.2.93
EV/EBITDA-1539.38
Historical-1539.38 / 21.59 / 183.05
Industry Med.13.14
EV/Revenue12.40
Historical3.22 / 6.77 / 21.28
Industry Med.8.71
P/FCF93.76
Historical8.95 / 22.42 / 93.76
Industry Med.27.54
Intrinsic Value Models
DCF (FCF Based)
$25.10
Tangible Book
$5.94
Net Current Assets
$2.320
Graham Number
$6.84
Median P/S Value
$52.60
Net-Net Working Capital
$1.84
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 103.71 | 17.37 | 22.27 | 15.71 | 30.78 | 22.25 | 23.34 | 34.55 | 40.97 | 42.44 | 262.51 | |
| PS Ratio | 10.37 | 14.12 | 6.74 | 4.84 | 9.18 | 6.82 | 5.86 | 7.52 | 8.47 | 5.48 | 13.89 | |
| PB Ratio | 19.78 | 10.85 | 5.57 | 3.73 | 5.84 | 5.58 | 4.36 | 6.63 | 7.79 | 5.69 | 15.46 | |
| EV/EBITDA | 76.12 | 37.44 | 14.82 | 9.79 | 20.05 | 14.65 | 15.16 | 27.27 | 35.58 | 71.15 | -1539.38 | |
| EV/Revenue | 9.61 | 12.46 | 5.29 | 3.63 | 7.39 | 5.12 | 4.38 | 6.20 | 7.29 | 4.36 | 12.40 |
Analyst Estimates & Quality
Altman Z-Score
35.91
Safe
Piotroski F-Score
4
Moderate
Beneish M-Score
-3.30
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1,006.1M | $1,499.9M | $1,913.6M |
| Net Income | $85.7M | $476.4M | $709.7M |
| EPS | 0.59 | 2.61 | 5.42 |
| Book Value per Share | 6.01 | 9.35 | 12.29 |
| Operating Cash Flow per Share | 1.06 | 0.59 | 0.48 |
| Operating CF | $110.70M | $61.62M | $50.13M |
Dividends
Revenue Segments
By Business
| Segment | 2025 |
|---|---|
| Product revenue, net | $761.4M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $761.4M |