NASDAQ : NBIX
Neurocrine Biosciences, Inc. — Financial statements
Healthcare · Drug Manufacturers - Specialty & Generic · United States
Last price 146.1 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 14.85B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Neurocrine Biosciences, Inc. (NBIX) reported revenue of 3.37B 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 | |
|---|---|---|---|---|---|---|
| Revenue | 3.37B | 2.86B | 2.36B | 1.89B | 1.49B | 1.13B |
| Cost of Revenue | 1.20B | 1.07B | 765.10M | 604.70M | 487.00M | 342.40M |
| Gross Profit | 2.18B | 1.79B | 1.59B | 1.28B | 1.00B | 791.10M |
| Selling, General & Admin | 1.29B | 1.16B | 993.20M | 887.60M | 752.70M | 583.30M |
| Operating Expenses | 1.31B | 1.16B | 993.20M | 887.60M | 752.70M | 583.30M |
| Operating Income | 866.00M | 636.50M | 597.00M | 394.80M | 249.00M | 207.80M |
| Interest Expense | -2.90M | -25.80M | ||||
| Interest & Investment Income | 88.50M | 90.30M | 91.00M | 52.80M | 4.10M | 3.80M |
| EBT Excluding Unusual Items | 951.60M | 726.80M | 688.00M | 447.60M | 253.10M | 185.80M |
| Gain (Loss) on Sale of Investments | 59.80M | -4.00M | -37.10M | 28.40M | 30.80M | 20.90M |
| Gain (Loss) on Sale of Assets | 28.60M | |||||
| Asset Writedown | -14.00M | |||||
| Other Unusual Items | -138.40M | -70.00M | ||||
| Pretax Income | 940.20M | 705.40M | 486.00M | 332.10M | 213.90M | 101.40M |
| Income Tax Expense | 234.70M | 226.80M | 144.70M | 82.40M | 59.40M | 11.80M |
| Net Income | 705.50M | 478.60M | 341.30M | 249.70M | 154.50M | 89.60M |
| Net Income to Common | 705.50M | 478.60M | 341.30M | 249.70M | 154.50M | 89.60M |
| Shares Outstanding (Basic) | 100.25M | 99.50M | 100.40M | 97.70M | 95.80M | 94.60M |
| Shares Outstanding (Diluted) | 103.50M | 102.50M | 103.70M | 101.00M | 98.90M | 97.90M |
| EPS (Basic) | 7.04 | 4.81 | 3.40 | 2.56 | 1.61 | 0.95 |
| EPS (Diluted) | 6.82 | 4.67 | 3.29 | 2.47 | 1.56 | 0.92 |
| Free Cash Flow | 870.40M | 748.70M | 557.20M | 361.60M | 322.90M | 233.10M |
| Free Cash Flow Per Share | 8.41 | 7.30 | 5.37 | 3.58 | 3.27 | 2.38 |
| Gross Margin | 64.48% | 62.67% | 67.52% | 67.96% | 67.29% | 69.79% |
| Operating Margin | 25.67% | 22.25% | 25.35% | 20.92% | 16.73% | 18.33% |
| Profit Margin | 20.91% | 16.73% | 14.49% | 13.23% | 10.38% | 7.90% |
| Free Cash Flow Margin | 25.80% | 26.17% | 23.66% | 19.16% | 21.69% | 20.57% |
| EBITDA | 913.30M | 666.60M | 624.10M | 416.10M | 264.60M | 218.70M |
| EBITDA Margin | 27.07% | 23.30% | 26.50% | 22.05% | 17.77% | 19.29% |
| D&A For EBITDA | 47.30M | 30.10M | 27.10M | 21.30M | 15.60M | 10.90M |
| EBIT | 866.00M | 636.50M | 597.00M | 394.80M | 249.00M | 207.80M |
| EBIT Margin | 25.67% | 22.25% | 25.35% | 20.92% | 16.73% | 18.33% |
| Effective Tax Rate | 24.96% | 32.15% | 29.77% | 24.81% | 27.77% | 11.64% |
| Revenue as Reported | 3.37B | 2.86B | 2.36B | 1.89B | 1.49B | 1.13B |
| Advertising Expenses | 226.80M | 191.00M | 159.90M | 149.70M | 139.80M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 332.40M | 713.00M | 233.00M | 251.10M | 262.90M | 340.80M |
| Short-Term Investments | 57.40M | 767.40M | 843.10M | 780.50M | 726.40M | 370.50M |
| Cash & Short-Term Investments | 389.80M | 1.48B | 1.08B | 1.03B | 989.30M | 711.30M |
| Receivables | 887.00M | 686.80M | 479.10M | 439.30M | 350.00M | 185.50M |
| Inventory | 104.20M | 69.00M | 57.40M | 38.30M | 35.10M | 30.50M |
| Prepaid Expenses | 217.10M | 170.70M | 48.50M | |||
| Other Current Assets | 39.40M | 115.80M | 63.60M | 97.80M | 79.10M | 45.50M |
| Total Current Assets | 1.64B | 2.52B | 1.72B | 1.61B | 1.45B | 972.80M |
| Property, Plant & Equipment | 538.50M | 545.20M | 592.00M | 347.30M | 145.60M | 155.80M |
| Long-Term Investments | 239.20M | 1.18B | 864.30M | 849.40M | 401.50M | 624.40M |
| Goodwill | 500.60M | 5.80M | 5.40M | |||
| Other Intangible Assets | 2.23B | 35.50M | 37.20M | |||
| Long-Term Deferred Tax Assets | 8.90M | 320.30M | 485.70M | 362.60M | 305.90M | 315.10M |
| Other Long-Term Assets | 208.40M | 59.50M | 52.00M | 43.80M | 19.60M | 4.40M |
| Total Assets | 5.36B | 4.63B | 3.72B | 3.25B | 2.37B | 2.07B |
| Accounts Payable | 142.00M | 104.90M | 99.90M | 133.30M | 67.30M | 51.50M |
| Accrued Expenses | 551.70M | 501.40M | 351.70M | 315.50M | 271.30M | 111.60M |
| Current Portion of Long-Term Debt | 170.10M | 169.40M | ||||
| Current Portion of Leases | 59.80M | 56.00M | ||||
| Current Income Taxes Payable | 114.60M | 68.00M | 10.00M | 9.00M | ||
| Current Unearned Revenue | 62.70M | |||||
| Other Current Liabilities | 6.40M | 13.10M | 46.10M | 35.90M | 20.70M | 20.00M |
| Total Current Liabilities | 874.50M | 743.40M | 507.70M | 654.80M | 537.70M | 245.80M |
| Long-Term Debt | 335.10M | |||||
| Long-Term Leases | 401.80M | 415.30M | 455.10M | 258.30M | 93.50M | 105.30M |
| Other Long-Term Liabilities | 297.70M | 219.70M | 166.20M | 106.30M | 29.70M | 12.30M |
| Total Liabilities | 1.67B | 1.38B | 1.13B | 1.02B | 660.90M | 698.50M |
| Common Stock | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K | 100.00K |
| Additional Paid-In Capital | 2.96B | 2.79B | 2.55B | 2.38B | 2.12B | 2.01B |
| Retained Earnings | 724.00M | 447.70M | 29.20M | -157.10M | -406.80M | -635.80M |
| Comprehensive Income & Other | 5.10M | 13.10M | 5.80M | 7.00M | -7.90M | -1.70M |
| Shareholders' Equity | 3.69B | 3.25B | 2.59B | 2.23B | 1.71B | 1.37B |
| Total Liabilities & Equity | 5.36B | 4.63B | 3.72B | 3.25B | 2.37B | 2.07B |
| Total Debt | 461.60M | 471.30M | 455.10M | 428.40M | 262.90M | 440.40M |
| Net Cash (Debt) | -71.80M | 1.01B | 621.00M | 603.20M | 726.40M | 270.90M |
| Net Cash Per Share | -0.69 | 9.84 | 5.99 | 5.97 | 7.34 | 2.77 |
| Filing Date Shares Outstanding | 101.65M | 100.36M | 99.70M | 99.51M | 96.59M | 95.24M |
| Total Common Shares Outstanding | 101.60M | 100.10M | 99.40M | 98.70M | 96.50M | 94.90M |
| Working Capital | 763.00M | 1.78B | 1.22B | 952.20M | 915.80M | 727.00M |
| Book Value Per Share | 36.35 | 32.50 | 26.05 | 22.61 | 17.70 | 14.48 |
| Tangible Book Value | 967.00M | 3.25B | 2.59B | 2.19B | 1.67B | 1.37B |
| Tangible Book Value Per Share | 9.52 | 32.50 | 26.05 | 22.20 | 17.26 | 14.48 |
| Machinery | 172.50M | 153.20M | 115.70M | 87.00M | 75.60M | |
| Leasehold Improvements | 35.60M | 35.90M | 38.10M | 37.90M | 34.90M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 705.50M | 478.60M | 341.30M | 249.70M | 154.50M | 89.60M |
| Depreciation & Amortization | 47.30M | 30.10M | 27.10M | 21.30M | 15.60M | 10.90M |
| Other Amortization | 17.30M | |||||
| Loss (Gain) From Sale of Assets | -28.60M | |||||
| Asset Writedown & Restructuring Costs | 700.00K | 700.00K | 14.00M | |||
| Loss (Gain) From Sale of Investments | -60.90M | -8.70M | 10.90M | -46.70M | -27.10M | -13.50M |
| Stock-Based Compensation | 234.50M | 217.90M | 195.50M | 194.30M | 173.10M | 134.20M |
| Other Operating Activities | 148.70M | 192.90M | 25.80M | -56.90M | 90.70M | 1.30M |
| Change in Accounts Receivable | -259.60M | -210.50M | -39.80M | -89.30M | -162.20M | -28.40M |
| Change in Inventory | -17.90M | -15.30M | -19.10M | 5.40M | -2.60M | -2.50M |
| Change in Accounts Payable | 125.30M | 160.20M | 43.40M | 49.00M | 114.60M | 56.80M |
| Change in Income Taxes | 25.60M | -18.80M | 50.30M | 91.60M | ||
| Change in Other Net Operating Assets | -22.50M | -44.40M | -54.00M | -28.50M | -17.20M | -9.20M |
| Operating Cash Flow | 898.10M | 782.70M | 595.40M | 389.90M | 339.40M | 256.50M |
| Capital Expenditures | -27.70M | -34.00M | -38.20M | -28.30M | -16.50M | -23.40M |
| Cash Acquisitions | -2.36B | -42.70M | ||||
| Investment in Securities | 1.43B | -230.40M | -88.60M | -438.80M | -117.90M | -106.80M |
| Investing Cash Flow | -891.20M | -264.40M | -126.80M | -467.10M | -177.10M | -130.20M |
| Long-Term Debt Repaid | -308.80M | -279.00M | -100.00K | |||
| Net Debt Issued (Repaid) | -308.80M | -279.00M | -100.00K | |||
| Issuance of Common Stock | 191.30M | 129.40M | 122.10M | 65.30M | 44.70M | 27.50M |
| Repurchase of Common Stock | -124.40M | -167.70M | -300.00M | |||
| Financing Cash Flow | 60.20M | -38.30M | -486.70M | 65.30M | -234.30M | 27.40M |
| Foreign Exchange Rate Adjustments | -200.00K | 300.00K | -1.30M | |||
| Net Cash Flow | 66.90M | 480.00M | -18.10M | -11.60M | -73.30M | 153.70M |
| Free Cash Flow | 870.40M | 748.70M | 557.20M | 361.60M | 322.90M | 233.10M |
| Free Cash Flow Margin | 25.80% | 26.17% | 23.66% | 19.16% | 21.69% | 20.57% |
| Free Cash Flow Per Share | 8.41 | 7.30 | 5.37 | 3.58 | 3.27 | 2.38 |
| Levered Free Cash Flow | 638.24M | 397.81M | 507.32M | 439.25M | 247.62M | 265.75M |
| Unlevered Free Cash Flow | 640.05M | 397.81M | 507.32M | 439.25M | 247.62M | 264.57M |
| Cash Interest Paid | 2.70M | 1.60M | 3.80M | 6.60M | 8.60M | |
| Cash Income Tax Paid | 97.10M | 81.40M | 217.50M | 51.50M | 14.40M | 5.10M |
| Change in Working Capital | -149.10M | -128.80M | -19.20M | 28.20M | -67.40M | 16.70M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 14.87B | 14.14B | 13.82B | 12.95B | 11.48B | 8.08B |
| Enterprise Value | 14.95B | 13.51B | 12.88B | 12.12B | 10.97B | 7.77B |
| Last Close Price | 146.10 | 141.83 | 136.50 | 131.76 | 119.44 | 85.17 |
| PE Ratio | 21.45 | 29.55 | 40.49 | 51.84 | 74.32 | 90.18 |
| Forward PE | 12.89 | 15.87 | 18.15 | 21.34 | 22.53 | 24.55 |
| PS Ratio | 4.41 | 4.94 | 5.87 | 6.86 | 7.71 | 7.13 |
| PB Ratio | 4.02 | 4.35 | 5.34 | 5.80 | 6.72 | 5.88 |
| P/TBV Ratio | 15.40 | 4.35 | 5.34 | 5.91 | 6.89 | 5.88 |
| P/FCF Ratio | 17.11 | 18.89 | 24.80 | 35.80 | 35.56 | 34.66 |
| P/OCF Ratio | 16.58 | 18.07 | 23.21 | 33.20 | 33.83 | 31.50 |
| PEG Ratio | 0.32 | 0.75 | 0.31 | 0.65 | 0.66 | 1.12 |
| EV/Sales Ratio | 4.44 | 4.72 | 5.47 | 6.42 | 7.37 | 6.85 |
| EV/EBITDA Ratio | 16.39 | 20.26 | 20.64 | 29.14 | 41.44 | 35.51 |
| EV/EBIT Ratio | 17.28 | 21.22 | 21.57 | 30.71 | 44.04 | 37.38 |
| EV/FCF Ratio | 17.19 | 18.04 | 23.11 | 33.53 | 33.96 | 33.32 |
| Debt / Equity Ratio | 0.12 | 0.14 | 0.18 | 0.19 | 0.15 | 0.32 |
| Debt / EBITDA Ratio | 0.47 | 0.65 | 0.68 | 0.99 | 0.94 | 1.88 |
| Debt / FCF Ratio | 0.53 | 0.63 | 0.82 | 1.19 | 0.81 | 1.89 |
| Net Debt / Equity Ratio | 0.02 | -0.31 | -0.24 | -0.27 | -0.42 | -0.20 |
| Net Debt / EBITDA Ratio | 0.08 | -1.51 | -0.99 | -1.45 | -2.75 | -1.24 |
| Net Debt / FCF Ratio | 0.08 | -1.35 | -1.11 | -1.67 | -2.25 | -1.16 |
| Asset Turnover | 0.73 | 0.69 | 0.68 | 0.67 | 0.67 | 0.59 |
| Inventory Turnover | 14.88 | 16.90 | 15.99 | 16.48 | 14.85 | 11.71 |
| Quick Ratio | 1.46 | 2.92 | 3.06 | 2.25 | 2.49 | 3.65 |
| Current Ratio | 1.87 | 3.39 | 3.40 | 2.45 | 2.70 | 3.96 |
| Return on Equity (ROE) | 22.09% | 16.38% | 14.16% | 12.68% | 10.03% | 7.17% |
| Return on Assets (ROA) | 11.70% | 9.53% | 10.71% | 8.78% | 7.01% | 6.82% |
| Return on Invested Capital (ROIC) | 20.56% | 20.50% | 23.31% | 22.75% | 17.26% | 19.95% |
| Return on Capital Employed (ROCE) | 19.30% | 16.40% | 18.60% | 15.20% | 13.60% | 11.40% |
| Earnings Yield | 4.66% | 3.38% | 2.47% | 1.93% | 1.35% | 1.11% |
| FCF Yield | 5.84% | 5.29% | 4.03% | 2.79% | 2.81% | 2.89% |
| Buyback Yield / Dilution | -0.78% | 1.16% | -2.67% | -2.12% | -1.02% | -0.10% |