Theravance Biopharma Inc
TBPHHealthcare|Biotechnology|USA
$16.94
-0.06 (-0.32%)
Tangible Book
$5.64
Graham Number
$11.62
Financials
Financial Snapshot
Market Cap
$878.0M
Enterprise Value
$354.2M
Revenue (TTM)
$109.8M
Net Income (TTM)
$114.5M
Cash & Equivalents
—
Net Cash/Share
$4.13
Free Cash Flow (TTM)
$268.8M
Operating CF (TTM)
$268.8M
Debt/Equity
0.14
Cash Runway & Burn Rate
Company is cash-flow positive.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $501.1M | $348.6M | $505.3M | $280.8M | $292.9M | $173.5M | $327.5M | $102.4M | $88.3M | $315.4M | $394.7M | |
| Operating Cash Flow | $-99.0M | $-201.1M | $-112.9M | $-238.2M | $-250.4M | $-207.9M | $-187.0M | $-27.0M | $-11.5M | $238.5M | $268.8M | |
| Free Cash Flow | $-101.1M | $-203.5M | $-120.1M | $-241.4M | $-257.0M | $-211.3M | $-187.6M | $-29.5M | $-11.9M | $238.5M | $268.8M | |
| Capital Expenditure | $-2.1M | $-2.4M | $-7.2M | $-3.2M | $-6.6M | $-3.4M | $-572.0K | $-2.5M | $-332.0K | $-42.0K | $-8.0K | |
| Financing Cash Flow | $479.2M | $1.7M | $225.2M | $1.3M | $263.1M | $91.9M | $-758.8M | $-198.9M | $-2.5M | $-3.2M | $-8.0M |
R&D Spending
R&D (TTM)
$31.8M
R&D Intensity
29.0%
R&D Growth YoY
-15.0%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.6M | $15.4M | $60.4M | $73.4M | $71.9M | $55.3M | $51.3M | $57.4M | $64.4M | $107.5M | $109.8M | |
| R&D Expense | $141.7M | $173.9M | $201.3M | $219.2M | $261.0M | $193.7M | $63.4M | $40.6M | $37.6M | $37.4M | $31.8M | |
| R&D % of Revenue | 291.3% | 1130.2% | 333.5% | 298.6% | 363.2% | 350.1% | 123.5% | 70.7% | 58.5% | 34.8% | 29.0% | |
| SG&A | $84.5M | $95.6M | $97.1M | $106.1M | $108.5M | $99.3M | $67.1M | $70.1M | $69.2M | $73.7M | $73.0M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.6M | $15.4M | $60.4M | $73.4M | $71.9M | $55.3M | $51.3M | $57.4M | $64.4M | $107.5M | $109.8M | |
| Cost of Goods Sold | $2.9M | $6.0M | $715.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $45.8M | $9.4M | $59.7M | $73.4M | $71.9M | $55.3M | $51.3M | $57.4M | $64.4M | $107.5M | $109.8M | |
| R&D | $141.7M | $173.9M | $201.3M | $219.2M | $261.0M | $193.7M | $63.4M | $40.6M | $37.6M | $37.4M | $31.8M | |
| SG&A | $84.5M | $95.6M | $97.1M | $106.1M | $108.5M | $99.3M | $67.1M | $70.1M | $69.2M | $73.7M | $73.0M | |
| Operating Income | $-180.5M | $-260.1M | $-238.8M | $-251.9M | $-297.6M | $-237.6M | $-79.1M | $-53.3M | $-42.4M | $-3.6M | $5.0M | |
| Interest Expense | $-1.4M | $-8.5M | $-10.5M | $-31.9M | $-8.5M | $-8.5M | $-6.4M | $-2.4M | $-2.5M | $-2.5M | $-1.8M | |
| Pretax Income | $-180.6M | $-271.7M | $-226.1M | $-241.7M | $-303.3M | $-265.2M | $-92.8M | $-49.3M | $-44.6M | $129.2M | $136.9M | |
| Net Income | $-190.7M | $-285.4M | $-215.5M | $-236.5M | $-278.0M | $-199.4M | $872.1M | $-55.2M | $-56.4M | $105.9M | $114.5M | |
| EPS (Diluted) | -4.26 | -5.45 | -3.99 | -4.25 | -4.46 | -2.87 | 11.85 | -1.00 | -1.15 | 2.06 | 2.20 | |
| EBITDA | $-176.0M | $-259.1M | $-212.4M | $-203.6M | $-287.8M | $-248.1M | $-79.4M | $-42.7M | $-38.5M | $134.5M | $141.3M | |
| Shares Out. (M) | 44.71 | 52.35 | 53.97 | 55.61 | 62.34 | 69.46 | 73.59 | 55.30 | 48.85 | 51.51 | 51.28 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $344.7M | $89.0M | $378.0M | $58.1M | $81.5M | $90.0M | $298.2M | $39.5M | $37.8M | $167.8M | $288.1M | |
| Marketable Securities | $156.4M | $259.6M | $127.3M | $222.8M | $211.5M | $83.5M | $29.3M | $62.9M | $50.6M | $147.6M | $106.6M | |
| Total Current Assets | $528.5M | $378.7M | $532.8M | $338.5M | $393.3M | $249.9M | $353.5M | $133.5M | $161.1M | $418.5M | $417.6M | |
| Total Assets | $639.3M | $441.4M | $560.2M | $408.8M | $469.1M | $374.8M | $607.4M | $382.0M | $354.2M | $485.6M | $472.3M | |
| Total Current Liabilities | $49.3M | $62.6M | $98.6M | $111.7M | $123.6M | $58.6M | $28.7M | $24.8M | $32.1M | $38.3M | $31.8M | |
| Long-Term Debt | $222.7M | $223.7M | $454.4M | $445.2M | $599.8M | $599.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $289.0M | $326.2M | $611.8M | $632.7M | $772.8M | $713.4M | $165.6M | $169.0M | $178.6M | $188.8M | $181.7M | |
| Stockholders' Equity | $350.2M | $115.2M | $-51.6M | $-223.8M | $-303.8M | $-338.6M | $441.8M | $213.0M | $175.5M | $296.7M | $290.6M | |
| Retained Earnings | $-512.2M | $-797.7M | $-1.01B | $-1.25B | $-1.53B | $-1.73B | $-853.9M | $-909.1M | $-965.5M | $-859.6M | $-864.6M |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-99.0M | $-201.1M | $-112.9M | $-238.2M | $-250.4M | $-207.9M | $-187.0M | $-27.0M | $-11.5M | $238.5M | $268.8M | |
| Capital Expenditure | $-2.1M | $-2.4M | $-7.2M | $-3.2M | $-6.6M | $-3.4M | $-572.0K | $-2.5M | $-332.0K | $-42.0K | $-8.0K | |
| Free Cash Flow | $-101.1M | $-203.5M | $-120.1M | $-241.4M | $-257.0M | $-211.3M | $-187.6M | $-29.5M | $-11.9M | $238.5M | $268.8M | |
| Investing Cash Flow | $-148.2M | $-56.3M | $176.7M | $-83.1M | $10.7M | $124.5M | $1.15B | $-32.7M | $12.3M | $-105.3M | $-83.3M | |
| Financing Cash Flow | $479.2M | $1.7M | $225.2M | $1.3M | $263.1M | $91.9M | $-758.8M | $-198.9M | $-2.5M | $-3.2M | $-8.0M | |
| Issuance of Stock | $253.0M | $0.00 | $0.00 | $0.00 | $139.9M | $108.2M | $0.00 | $0.00 | $99.0K | $20.0K | $0.00 | |
| Repurchase of Stock | $-3.9M | $-8.6M | $-9.8M | $-3.2M | $-9.7M | $-9.1M | $-132.3M | $-199.6M | $-3.1M | $-4.0M | $-9.0M | |
| Issuance of Debt | $222.5M | $0.00 | $229.4M | $0.00 | $380.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $0.00 | $0.00 | $0.00 | $-2.2M | $-235.3M | $-10.7M | $-631.6M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $41.2M | $49.1M | $51.3M | $60.5M | $63.0M | $62.1M | $39.7M | $25.4M | $21.4M | $18.5M | $18.1M | |
| Net Change in Cash | $232.0M | $-255.7M | $289.0M | $-320.0M | $23.4M | $8.5M | $208.2M | $-258.6M | $-1.7M | $130.0M | $177.5M |
Dilution Tracker
Shares Outstanding
51M
5-Year Share Growth
-26.2%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 44.71 | 52.35 | 53.97 | 55.61 | 62.34 | 69.46 | 73.59 | 55.30 | 48.85 | 51.51 | 51.28 | |
| YoY Change % | — | 17.1% | 3.1% | 3.0% | 12.1% | 11.4% | 5.9% | -24.9% | -11.7% | 5.4% | -0.4% | |
| Stock Issuance | $253.0M | $0.00 | $0.00 | $0.00 | $139.9M | $108.2M | $0.00 | $0.00 | $99.0K | $20.0K | $0.00 | |
| Stock Repurchase | $-3.9M | $-8.6M | $-9.8M | $-3.2M | $-9.7M | $-9.1M | $-132.3M | $-199.6M | $-3.1M | $-4.0M | $-9.0M | |
| Stock Based Comp. | $41.2M | $49.1M | $51.3M | $60.5M | $63.0M | $62.1M | $39.7M | $25.4M | $21.4M | $18.5M | $18.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 94.1% | 60.8% | 98.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | -371.0% | -1690.6% | -395.5% | -343.1% | -414.2% | -429.6% | -154.1% | -92.8% | -65.9% | -3.4% | 4.5% | |
| Net Margin % | -391.9% | -1855.0% | -357.0% | -322.1% | -386.9% | -360.6% | 1698.5% | -96.1% | -87.6% | 98.5% | 104.3% | |
| EBITDA Margin % | -361.9% | -1684.2% | -351.9% | -277.3% | -400.6% | -448.5% | -154.7% | -74.3% | -59.7% | 125.2% | 128.7% | |
| FCF Margin % | -207.9% | -1322.4% | -199.0% | -328.8% | -357.7% | -382.0% | -365.3% | -51.3% | -18.4% | 221.9% | 244.8% | |
| ROE % | -64.3% | -122.6% | -677.9% | 0.0% | 0.0% | 0.0% | 1689.7% | -16.9% | -29.0% | 44.8% | 47.3% | |
| ROA % | -40.6% | -52.8% | -43.0% | -48.8% | -63.3% | -47.3% | 177.6% | -11.2% | -15.3% | 25.2% | 26.7% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)7.70
Historical0.76 / 6.68 / 59.58
Industry Med.27.51
P/S8.03
Historical6.14 / 14.84 / 110.40
Industry Med.9.49
P/B3.00
Historical1.38 / 2.95 / 52.36
Industry Med.2.93
EV/EBITDA3.71
Historical-14.43 / -6.35 / 14.48
Industry Med.13.02
EV/Revenue4.77
Historical3.37 / 19.74 / 106.54
Industry Med.8.59
P/FCF3.20
Historical2.25 / 3.20 / 17.39
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$5.64
Net Current Assets
$4.580
Graham Number
$11.62
Median P/S Value
$31.18
Net-Net Working Capital
$4.36
| 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 | 0.95 | At Loss | At Loss | 9.08 | 7.70 | |
| PS Ratio | 29.30 | 94.86 | 22.87 | 19.61 | 15.41 | 13.88 | 16.07 | 10.83 | 7.14 | 8.97 | 8.03 | |
| PB Ratio | 4.81 | 13.17 | 0.00 | 0.00 | 0.00 | 0.00 | 1.66 | 2.54 | 2.65 | 3.22 | 3.00 | |
| EV/EBITDA | -7.99 | -5.37 | -6.47 | -8.38 | -5.30 | -5.32 | -5.75 | -11.42 | -11.10 | 5.08 | 3.71 | |
| EV/Revenue | 28.90 | 90.46 | 22.76 | 23.24 | 21.24 | 23.84 | 8.89 | 8.49 | 6.63 | 6.35 | 4.77 |
Analyst Estimates & Quality
Altman Z-Score
2.52
Grey Zone
Piotroski F-Score
7
Strong
Beneish M-Score
-5.13
Unlikely Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $116.9M | $97.0M | $92.8M |
| Net Income | $123.1M | $41.1M | $41.5M |
| EPS | 2.50 | 1.05 | 0.83 |
| 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 |
|---|---|
| Development and commercialization of human therapeutics | $107.5M |
By Geography
| Segment | 2025 |
|---|---|
| US | $75.0M |
| Europe | $32.5M |