Lantheus Holdings Inc
LNTHHealthcare|Drug Manufacturers - Specialty & Generic|USA
$105.64
-0.34 (-0.32%)
DCF (FCF)
$69.11
Tangible Book
$4.10
Graham Number
$22.41
Earnings Power
$25.99
Financials
Financial Snapshot
Market Cap
$6.88B
Enterprise Value
$-127.2M
Revenue (TTM)
$1.55B
Net Income (TTM)
$279.0M
Cash & Equivalents
—
Net Cash/Share
$-9.77
Free Cash Flow (TTM)
$371.7M
Operating CF (TTM)
$407.7M
Debt/Equity
0.52
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $51.2M | $76.3M | $113.4M | $92.9M | $79.6M | $98.5M | $415.7M | $713.7M | $912.8M | $359.1M | $498.6M | |
| Operating Cash Flow | $49.6M | $54.8M | $61.2M | $80.4M | $16.4M | $53.9M | $281.8M | $305.3M | $544.8M | $390.1M | $407.7M | |
| Free Cash Flow | $42.2M | $37.2M | $41.1M | $58.3M | $3.9M | $41.8M | $263.4M | $258.7M | $465.1M | $348.6M | $371.7M | |
| Capital Expenditure | $-7.4M | $-17.5M | $-20.1M | $-22.1M | $-12.5M | $-12.1M | $-18.3M | $-46.6M | $-79.6M | $-41.5M | $-36.0M | |
| Financing Cash Flow | $-30.2M | $-13.4M | $-4.7M | $-78.9M | $-21.9M | $-39.3M | $311.7M | $-13.1M | $-118.5M | $-316.6M | $-310.0M |
R&D Spending
R&D (TTM)
$180.4M
R&D Intensity
11.7%
R&D Growth YoY
+1.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $301.9M | $331.4M | $343.4M | $347.3M | $339.4M | $425.2M | $935.1M | $1.30B | $1.53B | $1.54B | $1.55B | |
| R&D Expense | $12.2M | $18.1M | $17.1M | $20.0M | $32.8M | $45.0M | $311.7M | $77.7M | $168.1M | $177.3M | $180.4M | |
| R&D % of Revenue | 4.0% | 5.5% | 5.0% | 5.8% | 9.7% | 10.6% | 33.3% | 6.0% | 11.0% | 11.5% | 11.7% | |
| SG&A | $75.4M | $92.2M | $93.3M | $103.1M | $110.2M | $218.8M | $233.8M | $267.2M | $371.6M | $453.8M | $464.7M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $301.9M | $331.4M | $343.4M | $347.3M | $339.4M | $425.2M | $935.1M | $1.30B | $1.53B | $1.54B | $1.55B | |
| Cost of Goods Sold | $164.1M | $169.2M | $168.5M | $172.5M | $200.6M | $237.5M | $353.4M | $586.9M | $545.6M | $599.7M | $611.0M | |
| Gross Profit | $137.8M | $162.1M | $174.9M | $174.8M | $138.8M | $187.7M | $581.7M | $709.5M | $988.3M | $942.0M | $935.2M | |
| R&D | $12.2M | $18.1M | $17.1M | $20.0M | $32.8M | $45.0M | $311.7M | $77.7M | $168.1M | $177.3M | $180.4M | |
| SG&A | $75.4M | $92.2M | $93.3M | $103.1M | $110.2M | $218.8M | $233.8M | $267.2M | $371.6M | $453.8M | $464.7M | |
| Operating Income | $50.2M | $51.9M | $64.5M | $51.7M | $-4.2M | $-76.1M | $36.2M | $364.6M | $448.6M | $315.6M | $290.1M | |
| Interest Expense | $-26.6M | $-18.4M | $-17.4M | $-13.6M | $-9.5M | $-7.8M | $-7.2M | $-20.0M | $-19.7M | $-19.7M | $-19.8M | |
| Pretax Income | $28.3M | $39.6M | $49.5M | $28.6M | $-11.5M | $-75.0M | $26.7M | $410.9M | $431.0M | $313.8M | $373.7M | |
| Net Income | $26.8M | $123.4M | $40.5M | $31.7M | $-13.5M | $-71.3M | $28.1M | $326.7M | $312.4M | $233.6M | $279.0M | |
| EPS (Diluted) | 0.82 | 3.17 | 1.03 | 0.79 | -0.25 | -1.06 | 0.40 | 4.65 | 4.36 | 3.41 | 4.15 | |
| EBITDA | $73.2M | $77.3M | $80.9M | $55.6M | $22.7M | $-25.0M | $81.8M | $491.0M | $515.3M | $403.6M | $472.6M | |
| Shares Out. (M) | 32.66 | 38.89 | 39.50 | 40.11 | 54.13 | 67.49 | 70.67 | 70.24 | 71.65 | 68.44 | 65.77 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $51.2M | $76.3M | $113.4M | $92.9M | $79.6M | $98.5M | $415.7M | $713.7M | $912.8M | $359.1M | $498.6M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $110.8M | $147.8M | $195.4M | $172.9M | $184.2M | $235.8M | $677.6M | $1.09B | $1.33B | $900.0M | $942.3M | |
| Total Assets | $255.9M | $383.9M | $439.8M | $405.9M | $869.8M | $863.8M | $1.32B | $1.65B | $1.98B | $2.23B | $2.35B | |
| Total Current Liabilities | $43.8M | $46.8M | $52.8M | $66.1M | $80.5M | $90.5M | $247.7M | $187.3M | $240.5M | $333.4M | $333.2M | |
| Long-Term Debt | $274.5M | $265.4M | $263.7M | $183.9M | $197.7M | $163.1M | $557.7M | $561.7M | $565.3M | $568.7M | $569.6M | |
| Total Liabilities | $362.4M | $360.6M | $368.8M | $291.3M | $355.6M | $399.3M | $874.1M | $835.3M | $892.3M | $1.14B | $1.13B | |
| Stockholders' Equity | $-106.5M | $23.3M | $71.0M | $114.6M | $514.2M | $464.4M | $447.1M | $815.9M | $1.09B | $1.09B | $1.21B | |
| Retained Earnings | $-332.4M | $-209.0M | $-168.1M | $-136.5M | $-149.9M | $-221.2M | $-193.2M | $133.5M | $445.9M | $679.5M | $797.9M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $49.6M | $54.8M | $61.2M | $80.4M | $16.4M | $53.9M | $281.8M | $305.3M | $544.8M | $390.1M | $407.7M | |
| Capital Expenditure | $-7.4M | $-17.5M | $-20.1M | $-22.1M | $-12.5M | $-12.1M | $-18.3M | $-46.6M | $-79.6M | $-41.5M | $-36.0M | |
| Free Cash Flow | $42.2M | $37.2M | $41.1M | $58.3M | $3.9M | $41.8M | $263.4M | $258.7M | $465.1M | $348.6M | $371.7M | |
| Investing Cash Flow | $3.3M | $-16.3M | $-19.1M | $-22.1M | $-4.9M | $3.7M | $-276.5M | $5.9M | $-226.0M | $-627.2M | $-537.5M | |
| Financing Cash Flow | $-30.2M | $-13.4M | $-4.7M | $-78.9M | $-21.9M | $-39.3M | $311.7M | $-13.1M | $-118.5M | $-316.6M | $-310.0M | |
| Issuance of Stock | $50.9M | $187.0K | $428.0K | $573.0K | $683.0K | $767.0K | $1.4M | $1.9M | $3.5M | $3.7M | $1.0K | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-75.0M | $0.00 | $-100.0M | $-300.0M | $-302.0M | |
| Issuance of Debt | $0.00 | $274.3M | $0.00 | $199.5M | $0.00 | $0.00 | $557.8M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-78.7M | $-286.7M | $-2.9M | $-275.4M | $-15.5M | $-43.3M | $-175.4M | $-717.0K | $-318.0K | $-1.1M | $-924.0K | |
| Stock Based Comp. | $2.5M | $5.9M | $8.7M | $12.5M | $14.1M | $15.9M | $29.3M | $50.5M | $76.4M | $85.6M | $80.4M | |
| Net Change in Cash | $22.6M | $25.1M | $37.1M | $-20.5M | $-10.2M | $18.0M | $316.6M | $298.0M | $199.2M | $-553.7M | $-439.9M |
Dilution Tracker
Shares Outstanding
66M
5-Year Share Growth
-2.5%
Stock Issuance (TTM)
$1.0K
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 32.66 | 38.89 | 39.50 | 40.11 | 54.13 | 67.49 | 70.67 | 70.24 | 71.65 | 68.44 | 65.77 | |
| YoY Change % | — | 19.1% | 1.6% | 1.5% | 35.0% | 24.7% | 4.7% | -0.6% | 2.0% | -4.5% | -3.9% | |
| Stock Issuance | $50.9M | $187.0K | $428.0K | $573.0K | $683.0K | $767.0K | $1.4M | $1.9M | $3.5M | $3.7M | $1.0K | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $-75.0M | $0.00 | $-100.0M | $-300.0M | $-302.0M | |
| Stock Based Comp. | $2.5M | $5.9M | $8.7M | $12.5M | $14.1M | $15.9M | $29.3M | $50.5M | $76.4M | $85.6M | $80.4M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 45.6% | 48.9% | 50.9% | 50.3% | 40.9% | 44.1% | 62.2% | 54.7% | 64.4% | 61.1% | 60.5% | |
| Operating Margin % | 16.6% | 15.6% | 18.8% | 14.9% | -1.2% | -17.9% | 3.9% | 28.1% | 29.2% | 20.5% | 18.8% | |
| Net Margin % | 8.9% | 37.2% | 11.8% | 9.1% | -4.0% | -16.8% | 3.0% | 25.2% | 20.4% | 15.2% | 18.1% | |
| EBITDA Margin % | 24.2% | 23.3% | 23.6% | 16.0% | 6.7% | -5.9% | 8.8% | 37.9% | 33.6% | 26.2% | 30.6% | |
| FCF Margin % | 14.0% | 11.2% | 12.0% | 16.8% | 1.2% | 9.8% | 28.2% | 20.0% | 30.3% | 22.6% | 24.0% | |
| ROE % | Negative Equity | Negative Equity | 85.9% | 34.1% | -4.3% | -14.6% | 6.2% | 51.7% | 32.8% | 21.4% | 24.3% | |
| ROA % | 10.7% | 38.6% | 9.8% | 7.5% | -2.1% | -8.2% | 2.6% | 22.0% | 17.2% | 11.1% | 12.7% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)25.46
Historical4.07 / 22.11 / 239.50
Industry Med.20.77
P/S4.61
Historical0.43 / 3.01 / 9.10
Industry Med.2.30
P/B5.67
Historical1.41 / 6.06 / 38.25
Industry Med.1.91
EV/EBITDA14.82
Historical-152.62 / 13.34 / 358.64
Industry Med.12.99
EV/Revenue4.53
Historical1.43 / 3.32 / 9.42
Industry Med.2.45
P/FCF19.13
Historical4.32 / 17.23 / 906.67
Industry Med.20.81
Intrinsic Value Models
DCF (FCF Based)
$69.11
Tangible Book
$4.10
Graham Number
$22.41
Median P/S Value
$67.95
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | 10.49 | 6.45 | 15.19 | 25.96 | At Loss | At Loss | 127.40 | 13.33 | 20.52 | 19.52 | 25.46 | |
| PS Ratio | 0.93 | 2.40 | 1.80 | 2.37 | 2.15 | 4.58 | 3.85 | 3.36 | 4.18 | 2.95 | 4.61 | |
| PB Ratio | 0.00 | 33.14 | 8.48 | 7.02 | 1.75 | 4.21 | 7.69 | 5.21 | 5.63 | 3.94 | 5.67 | |
| EV/EBITDA | 7.42 | 12.48 | 9.34 | 16.29 | 46.65 | -82.00 | 44.09 | 8.46 | 11.31 | 11.29 | 14.82 | |
| EV/Revenue | 1.80 | 2.91 | 2.20 | 2.61 | 3.12 | 4.82 | 3.86 | 3.20 | 3.80 | 2.96 | 4.53 |
Analyst Estimates & Quality
Altman Z-Score
5.64
Safe
Piotroski F-Score
5
Moderate
Beneish M-Score
-2.33
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $1,463M | $1,652M | $1,856M |
| Net Income | $357M | $434M | $501M |
| EPS | 4.47 | 5.49 | 7.27 |
| Book Value per Share | 0.00 | 0.00 | 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 |
|---|---|
| PYLARIFY | $989.1M |
| DEFINITY | $330.2M |
| Neuraceq | $51.4M |
| Other precision diagnostics | $24.6M |
| Strategic partnerships and other revenue | $59.4M |
| TechneLite | $86.8M |
By Geography
| Segment | 2025 |
|---|---|
| United States | $1.46B |
| Rest of world | $82.7M |