NASDAQ : LEGN
Legend Biotech Corporation — Financial statements
Healthcare · Biotechnology · United States
Last price 22.3 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 4.32B
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Financial statements
Legend Biotech Corporation (LEGN) reported revenue of 1.27B USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Operating Revenue | 1.27B | 1.03B | 627.30M | 285.10M | 116.68M | 65.40M |
| Other Revenue | 328.00K | 3.42M | ||||
| Revenue | 1.27B | 1.03B | 627.30M | 285.10M | 117.00M | 68.83M |
| Cost of Revenue | 552.10M | 408.10M | 234.60M | 144.20M | 65.36M | |
| Gross Profit | 719.30M | 620.80M | 392.70M | 140.90M | 51.64M | 68.83M |
| Selling, General & Admin | 374.90M | 341.60M | 284.30M | 201.00M | 174.05M | 149.50M |
| Research & Development | 396.20M | 414.70M | 413.50M | 382.20M | 335.65M | 313.35M |
| Other Operating Expenses | 1.00M | 1.00M | 85.80M | |||
| Operating Expenses | 772.10M | 757.30M | 697.80M | 669.00M | 509.70M | 462.85M |
| Operating Income | -52.80M | -136.50M | -305.10M | -528.10M | -458.05M | -394.02M |
| Interest Expense | -23.60M | -21.40M | -21.60M | -21.80M | -10.80M | -900.00K |
| Interest & Investment Income | 30.50M | 40.10M | 61.20M | 54.50M | 8.18M | 971.00K |
| Currency Exchange Gain (Loss) | -12.00M | -168.80M | 109.30M | -28.20M | -9.88M | |
| Other Non Operating Income (Expenses) | 3.90M | 4.00M | 2.50M | 3.40M | 24.22M | -12.27M |
| EBT Excluding Unusual Items | -54.00M | -282.60M | -153.70M | -520.20M | -446.33M | -406.22M |
| Gain (Loss) on Sale of Investments | 603.00K | |||||
| Gain (Loss) on Sale of Assets | -974.00K | |||||
| Asset Writedown | -2.20M | -4.40M | ||||
| Pretax Income | -56.20M | -282.60M | -158.10M | -520.20M | -445.72M | -407.20M |
| Income Tax Expense | 35.30M | 14.20M | 18.90M | -1.90M | 625.00K | -3.61M |
| Net Income | -91.50M | -296.80M | -177.00M | -518.30M | -446.35M | -403.58M |
| Net Income to Common | -91.50M | -296.80M | -177.00M | -518.30M | -446.35M | -403.58M |
| Shares Outstanding (Basic) | 185.37M | 184.32M | 182.85M | 176.08M | 159.04M | 140.85M |
| Shares Outstanding (Diluted) | 185.37M | 184.32M | 182.85M | 176.08M | 159.04M | 140.85M |
| EPS (Basic) | -0.49 | -1.61 | -0.97 | -2.94 | -2.81 | -2.87 |
| EPS (Diluted) | -0.50 | -1.62 | -0.97 | -2.94 | -2.81 | -2.87 |
| Free Cash Flow | -121.80M | -128.80M | -158.10M | -413.40M | -222.21M | -240.66M |
| Free Cash Flow Per Share | -0.66 | -0.70 | -0.86 | -2.35 | -1.40 | -1.71 |
| Gross Margin | 56.57% | 60.34% | 62.60% | 49.42% | 44.14% | 100.00% |
| Operating Margin | -4.15% | -13.27% | -48.64% | -185.23% | -391.48% | -572.49% |
| Profit Margin | -7.20% | -28.85% | -28.22% | -181.80% | -381.48% | -586.38% |
| Free Cash Flow Margin | -9.58% | -12.52% | -25.20% | -145.00% | -189.91% | -349.67% |
| EBITDA | -41.60M | -127.10M | -294.40M | -517.40M | -445.40M | -385.88M |
| EBITDA Margin | -3.27% | -12.35% | -46.93% | -181.48% | ||
| D&A For EBITDA | 11.20M | 9.40M | 10.70M | 10.70M | 12.65M | 8.14M |
| EBIT | -52.80M | -136.50M | -305.10M | -528.10M | -458.05M | -394.02M |
| EBIT Margin | -4.15% | -13.27% | -48.64% | -185.23% | ||
| Revenue as Reported | 1.27B | 1.03B | 627.30M | 285.10M | 117.00M | 68.83M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 672.90M | 901.90M | 286.70M | 1.28B | 786.03M | 688.94M |
| Short-Term Investments | 291.70M | 46.70M | 835.90M | 30.34M | 54.02M | 193.46M |
| Trading Asset Securities | 663.00K | 185.60M | ||||
| Cash & Short-Term Investments | 964.60M | 948.60M | 1.12B | 1.31B | 1.03B | 882.39M |
| Accounts Receivable | 13.10M | 6.40M | 101.43M | 278.00K | 50.50M | |
| Other Receivables | 198.00M | 237.20M | 118.70M | 55.63M | 44.24M | 8.04M |
| Receivables | 198.00M | 250.30M | 125.10M | 157.06M | 44.52M | 58.55M |
| Inventory | 41.50M | 32.00M | 23.90M | 19.43M | 10.35M | 1.75M |
| Prepaid Expenses | 18.50M | 14.60M | 12.30M | 12.23M | 17.33M | 5.71M |
| Other Current Assets | 4.80M | 1.60M | 357.00K | 1.27M | 1.44M | |
| Total Current Assets | 1.23B | 1.25B | 1.28B | 1.50B | 1.10B | 949.85M |
| Property, Plant & Equipment | 448.20M | 401.50M | 201.20M | 189.23M | 160.76M | 140.79M |
| Long-Term Investments | 4.36M | 4.71M | ||||
| Other Intangible Assets | 4.06M | 3.41M | 4.68M | |||
| Long-Term Accounts Receivable | 395.00K | |||||
| Other Long-Term Assets | 75.30M | 85.10M | 185.10M | 153.16M | 67.28M | 19.44M |
| Total Assets | 1.75B | 1.73B | 1.67B | 1.85B | 1.33B | 1.12B |
| Accounts Payable | 77.30M | 83.00M | 38.60M | 30.66M | 32.89M | 7.04M |
| Accrued Expenses | 103.10M | 123.00M | 64.50M | 61.58M | 152.73M | 104.38M |
| Current Portion of Long-Term Debt | 156.40M | 319.10M | ||||
| Current Portion of Leases | 11.80M | 7.40M | 4.80M | 3.17M | 3.56M | 911.00K |
| Current Income Taxes Payable | 33.70M | 19.20M | 20.70M | 7.20M | 9.77M | 9.49M |
| Current Unearned Revenue | 700.00K | 11.30M | 47.40M | 53.08M | 451.00K | 304.00K |
| Other Current Liabilities | 20.60M | 73.40M | 101.70M | 60.73M | 98.38M | 107.08M |
| Total Current Liabilities | 403.60M | 636.40M | 277.70M | 216.42M | 297.79M | 229.20M |
| Long-Term Debt | 301.20M | 281.33M | 260.93M | 120.46M | ||
| Long-Term Leases | 110.00M | 87.20M | 44.60M | 44.17M | 20.04M | 1.59M |
| Long-Term Unearned Revenue | 6.10M | 55.27M | 7.66M | 1.87M | ||
| Other Long-Term Liabilities | 7.70M | 8.00M | 56.00K | 233.00K | 396.00K | |
| Total Liabilities | 521.30M | 731.60M | 629.60M | 597.24M | 586.65M | 353.52M |
| Common Stock | 100.00K | 100.00K | 100.00K | 36.00K | 33.00K | 31.00K |
| Additional Paid-In Capital | 3.01B | 2.75B | 2.70B | 2.64B | 1.66B | 1.26B |
| Retained Earnings | -1.98B | -1.96B | -1.66B | -1.48B | -966.46M | -520.11M |
| Comprehensive Income & Other | 194.20M | 210.20M | 6.20M | 98.92M | 53.72M | 24.57M |
| Shareholders' Equity | 1.23B | 1.00B | 1.04B | 1.25B | 744.31M | 765.94M |
| Total Liabilities & Equity | 1.75B | 1.73B | 1.67B | 1.85B | 1.33B | 1.12B |
| Total Debt | 278.20M | 413.70M | 350.60M | 328.67M | 284.53M | 122.97M |
| Net Cash (Debt) | 686.40M | 534.90M | 772.00M | 980.04M | 741.12M | 759.43M |
| Net Cash Per Share | 3.70 | 2.90 | 4.22 | 5.57 | 4.66 | 5.39 |
| Filing Date Shares Outstanding | 193.77M | 184.94M | 183.65M | 181.91M | 165.07M | 154.23M |
| Total Common Shares Outstanding | 193.77M | 184.94M | 183.65M | 181.91M | 165.07M | 154.23M |
| Working Capital | 823.80M | 610.70M | 1.01B | 1.28B | 801.33M | 720.65M |
| Book Value Per Share | 6.35 | 5.42 | 5.67 | 6.88 | 4.51 | 4.97 |
| Tangible Book Value | 1.23B | 1.00B | 1.04B | 1.25B | 740.90M | 761.26M |
| Tangible Book Value Per Share | 6.35 | 5.42 | 5.67 | 6.86 | 4.49 | 4.94 |
| Land | 2.90M | 2.90M | 2.89M | 2.89M | 2.89M | |
| Buildings | 66.00M | 65.50M | 65.54M | 45.08M | 16.01M | |
| Machinery | 57.50M | 45.00M | 45.48M | 46.26M | 38.27M | |
| Construction In Progress | 14.20M | 4.40M | 3.04M | 14.18M | 41.37M | |
| Leasehold Improvements | 22.60M | 21.30M | 23.12M | 21.97M | 20.91M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -91.50M | -296.80M | -177.00M | -518.30M | -446.35M | -403.58M |
| Depreciation & Amortization | 45.30M | 28.90M | 21.40M | 18.50M | 18.39M | 12.54M |
| Other Amortization | 1.38M | |||||
| Loss (Gain) From Sale of Assets | 481.00K | 974.00K | ||||
| Asset Writedown & Restructuring Costs | 4.40M | |||||
| Loss (Gain) From Sale of Investments | -700.00K | -593.00K | ||||
| Stock-Based Compensation | 66.70M | 64.60M | 68.90M | 47.70M | 34.34M | 20.16M |
| Other Operating Activities | 48.60M | 196.20M | -80.10M | 132.20M | 5.24M | 8.15M |
| Change in Accounts Receivable | 27.60M | -5.70M | 93.80M | -99.00M | 50.32M | 24.59M |
| Change in Inventory | -3.80M | -4.50M | -17.20M | -12.70M | -13.89M | 51.00K |
| Change in Accounts Payable | 3.20M | 44.40M | 14.10M | -50.20M | 72.45M | 1.80M |
| Change in Unearned Revenue | -31.90M | -40.00M | -49.70M | 100.00M | 6.18M | 80.00K |
| Change in Other Net Operating Assets | -153.60M | -87.30M | -22.60M | -10.80M | 72.16M | 135.39M |
| Operating Cash Flow | -89.40M | -100.20M | -144.00M | -393.30M | -201.28M | -198.47M |
| Capital Expenditures | -32.40M | -28.60M | -14.10M | -20.10M | -20.93M | -42.20M |
| Sale of Property, Plant & Equipment | 4.00K | |||||
| Sale (Purchase) of Intangibles | -2.60M | -1.35M | -3.21M | |||
| Investment in Securities | 411.50M | 777.00M | -784.60M | 204.60M | -41.36M | -147.88M |
| Other Investing Activities | -48.60M | -38.80M | -51.90M | -89.00M | -13.45M | -1.71M |
| Investing Cash Flow | 330.50M | 709.60M | -850.60M | 92.90M | -77.09M | -194.98M |
| Long-Term Debt Repaid | -3.60M | -4.00M | -3.80M | -2.60M | -1.42M | |
| Lease Payments | -6.10M | -3.60M | -4.00M | -3.80M | -2.60M | -1.42M |
| Total Debt Repaid | -47.80M | -3.60M | -4.00M | -3.80M | -2.60M | -1.42M |
| Net Debt Issued (Repaid) | -47.80M | -3.60M | -4.00M | -3.80M | -2.60M | -1.42M |
| Issuance of Common Stock | 214.30M | 3.30M | 9.70M | 795.20M | 380.57M | 628.08M |
| Financing Cash Flow | 166.50M | -300.00K | 5.70M | 791.40M | 377.98M | 626.66M |
| Foreign Exchange Rate Adjustments | -1.20M | 6.10M | -2.10M | 700.00K | -2.51M | 34.00K |
| Net Cash Flow | 406.40M | 615.20M | -991.00M | 491.70M | 97.09M | 233.25M |
| Free Cash Flow | -121.80M | -128.80M | -158.10M | -413.40M | -222.21M | -240.66M |
| Free Cash Flow Margin | -9.58% | -12.52% | -25.20% | -145.00% | -189.91% | -349.67% |
| Free Cash Flow Per Share | -0.66 | -0.70 | -0.86 | -2.35 | -1.40 | -1.71 |
| Levered Free Cash Flow | 27.19M | -133.99M | -40.55M | -496.78M | -202.66M | -122.84M |
| Unlevered Free Cash Flow | 41.94M | -120.61M | -27.05M | -483.16M | -195.91M | -122.28M |
| Free Cash Flow After Leases | -127.90M | -132.40M | -162.10M | -417.20M | -224.80M | -242.08M |
| Cash Interest Paid | 3.50M | 3.50M | 1.80M | 1.40M | 527.00K | 142.00K |
| Cash Income Tax Paid | 12.70M | 18.40M | 1.60M | -300.00K | -3.71M | -557.00K |
| Change in Working Capital | -158.50M | -93.10M | 18.40M | -72.70M | 187.21M | 161.91M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 4.14B | 4.02B | 5.97B | 10.94B | 8.36B | 7.18B |
| Enterprise Value | 3.46B | 3.43B | 5.10B | 9.83B | 7.69B | 6.61B |
| Last Close Price | 21.63 | 21.74 | 32.54 | 60.17 | 49.92 | 46.61 |
| Forward PE | 49.16 | 150.43 | ||||
| PS Ratio | 3.30 | 3.90 | 9.52 | 38.37 | 71.42 | 104.25 |
| PB Ratio | 3.41 | 4.01 | 5.74 | 8.74 | 11.23 | 9.37 |
| P/TBV Ratio | 3.41 | 4.01 | 5.74 | 8.77 | 11.28 | 9.43 |
| EV/Sales Ratio | 2.76 | 3.34 | 8.14 | 34.50 | 65.76 | 96.08 |
| Debt / Equity Ratio | 0.23 | 0.41 | 0.34 | 0.26 | 0.38 | 0.16 |
| Net Debt / Equity Ratio | -0.56 | -0.53 | -0.74 | -0.78 | -1.00 | -0.99 |
| Net Debt / EBITDA Ratio | 16.50 | 4.21 | 2.62 | 1.89 | 1.66 | 1.97 |
| Net Debt / FCF Ratio | 5.63 | 4.15 | 4.88 | 2.37 | 3.33 | 3.16 |
| Asset Turnover | 0.74 | 0.60 | 0.36 | 0.18 | 0.10 | 0.07 |
| Inventory Turnover | 14.32 | 14.60 | 10.83 | 9.68 | 10.80 | |
| Quick Ratio | 2.88 | 1.88 | 4.49 | 6.77 | 3.59 | 4.11 |
| Current Ratio | 3.04 | 1.96 | 4.62 | 6.92 | 3.69 | 4.14 |
| Return on Equity (ROE) | -8.08% | -29.06% | -15.45% | -51.94% | -59.11% | -59.19% |
| Return on Assets (ROA) | -1.92% | -5.01% | -10.84% | -20.76% | -23.37% | -26.75% |
| Return on Invested Capital (ROIC) | -9.91% | -37.10% | -113.02% | -194.64% | ||
| Return on Capital Employed (ROCE) | -3.90% | -12.40% | -21.90% | -32.40% | -44.30% | -44.30% |
| Earnings Yield | -2.34% | -7.39% | -2.96% | -4.74% | -5.34% | -5.62% |
| FCF Yield | -2.91% | -3.21% | -2.65% | -3.78% | -2.66% | -3.35% |
| Buyback Yield / Dilution | -0.92% | -0.80% | -3.84% | -10.71% | -12.91% | -19.21% |