What is Mirum Pharmaceuticals' operating income?

Mirum Pharmaceuticals' total operating income in 2025 was -$22.14 million, based on the following breakdown: Total Gross Profit: $421.07 million Total Operating Expenses: $443.21 million

Mirum Pharmaceuticals (MIRM) Financials

$96.31 -0.76 (-0.78%)

As of 08/21/2026 04:00 PM Eastern

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Annual Income Statements for Mirum Pharmaceuticals

This table shows Mirum Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-53	-103	-84	-136	-163	-88	-23
Consolidated Net Income / (Loss)	-53	-103	-84	-136	-163	-88	-23
Net Income / (Loss) Continuing Operations	-53	-103	-84	-135	-163	-88	-23
Total Pre-Tax Income	-53	-103	-84	-142	-162	-87	-21
Total Operating Income	-55	-104	-173	-131	-109	-88	-22
Total Gross Profit	0.00	0.00	19	65	139	255	421
Total Revenue	0.00	0.00	19	77	186	337	521
Operating Revenue	-	0.00	19	77	186	337	521
Total Cost of Revenue	0.00	0.00	0.00	12	47	82	100
Operating Cost of Revenue	-	-	-	12	47	82	100
Total Operating Expenses	55	104	193	196	248	343	443
Selling, General & Admin Expense	12	23	59	89	146	202	257
Research & Development Expense	43	82	131	107	103	141	186
Total Other Income / (Expense), net	2.21	1.03	89	-11	-53	0.69	0.71
Interest Expense	0.00	0.34	18	16	64	14	14
Interest & Investment Income	2.23	1.56	0.37	3.86	14	14	13
Other Income / (Expense), net	-0.02	-0.19	107	0.91	-2.82	1.21	2.37
Income Tax Expense	0.02	0.01	0.04	-6.41	0.99	1.03	1.94
Basic Earnings per Share	($4.58)	($4.09)	($2.77)	($4.01)	($4.00)	($1.85)	($0.47)
Weighted Average Basic Shares Outstanding	11.49M	25.25M	30.32M	33.84M	40.89M	47.52M	50.20M
Diluted Earnings per Share	($4.58)	($4.09)	($2.77)	($4.02)	($4.00)	($1.85)	($0.47)
Weighted Average Diluted Shares Outstanding	11.49M	25.25M	30.32M	33.98M	40.89M	47.52M	50.20M
Weighted Average Basic & Diluted Shares Outstanding	11.49M	25.25M	30.32M	37.95M	47.00M	49.01M	60.34M

This table shows Mirum Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Income / (Loss) Attributable to Common Shareholders	-36	-25	-25	-14	-24	-15	-5.86	2.91	-5.73	-790	-67
Consolidated Net Income / (Loss)	-36	-25	-25	-14	-24	-15	-5.86	2.91	-5.73	-790	-67
Net Income / (Loss) Continuing Operations	-36	-25	-25	-14	-24	-15	-5.86	2.91	-5.73	-790	-67
Total Pre-Tax Income	-35	-25	-24	-14	-24	-14	-5.46	2.64	-4.96	-790	-66
Total Operating Income	-33	-26	-24	-13	-24	-15	-4.99	2.60	-4.57	-789	-43
Total Gross Profit	45	51	58	70	77	89	104	107	121	131	146
Total Revenue	70	69	78	90	99	112	128	133	149	160	176
Operating Revenue	70	69	78	90	99	112	128	133	149	160	176
Total Cost of Revenue	25	18	20	21	23	23	23	26	28	29	30
Operating Cost of Revenue	25	18	20	21	23	23	23	26	28	29	30
Total Operating Expenses	77	78	82	82	101	104	109	105	125	921	188
Selling, General & Admin Expense	46	46	49	51	57	58	63	62	74	96	81
Research & Development Expense	31	32	33	32	44	46	46	43	51	824	107
Total Other Income / (Expense), net	-2.85	1.81	0.23	-1.20	-0.14	1.54	-0.47	0.04	-0.40	-0.22	-23
Interest Expense	3.56	3.58	3.57	3.59	3.58	3.60	3.59	3.61	3.60	3.62	2.62
Interest & Investment Income	3.78	3.63	3.49	3.47	3.20	3.02	3.03	3.25	3.42	3.40	3.85
Other Income / (Expense), net	-3.06	1.76	0.31	-1.09	0.23	2.11	0.09	0.40	-0.22	0.00	-24
Income Tax Expense	0.23	0.62	0.64	0.35	-0.58	1.03	0.40	-0.26	0.77	0.48	1.69
Basic Earnings per Share	($0.69)	($0.54)	($0.52)	($0.30)	($0.49)	($0.30)	($0.12)	$0.06	($0.11)	($13.43)	($1.06)
Weighted Average Basic Shares Outstanding	40.89M	46.93M	47.24M	47.78M	47.52M	48.89M	49.73M	50.64M	50.20M	58.85M	63.37M
Diluted Earnings per Share	($0.69)	($0.54)	($0.52)	($0.30)	($0.49)	($0.30)	($0.12)	$0.05	($0.10)	($13.43)	($1.06)
Weighted Average Diluted Shares Outstanding	40.89M	46.93M	47.24M	47.78M	47.52M	48.89M	49.73M	56.99M	50.20M	58.85M	63.37M
Weighted Average Basic & Diluted Shares Outstanding	47.00M	47.13M	47.71M	48.00M	49.01M	49.53M	50.24M	51.39M	60.34M	60.98M	64.93M

This table details how cash moves in and out of Mirum Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-40	130	-11	-3.34	158	-63	75
Net Cash From Operating Activities	-39	-89	-133	-120	-71	10	56
Net Cash From Continuing Operating Activities	-39	-87	-133	-120	-71	10	56
Net Income / (Loss) Continuing Operations	-53	-103	-84	-136	-163	-88	-23
Consolidated Net Income / (Loss)	-53	-103	-84	-136	-163	-88	-23
Depreciation Expense	0.14	0.31	0.60	3.24	11	24	24
Amortization Expense	-0.14	0.25	-0.14	0.00	1.12	1.66	1.74
Non-Cash Adjustments To Reconcile Net Income	5.99	13	-66	40	100	50	73
Changes in Operating Assets and Liabilities, net	7.21	2.43	17	-28	-19	23	-20
Net Cash From Investing Activities	-128	38	49	7.70	-107	-90	-24
Net Cash From Continuing Investing Activities	-128	38	49	7.70	-107	-90	-24
Purchase of Property, Plant & Equipment	-0.28	-0.23	-0.02	-0.28	-0.11	-0.99	-0.95
Acquisitions	-	-	-19	0.00	-233	-20	0.00
Purchase of Investments	-152	-75	-198	-132	-27	-89	-97
Sale and/or Maturity of Investments	25	113	158	140	153	20	74
Net Cash From Financing Activities	127	181	73	109	337	18	40
Net Cash From Continuing Financing Activities	127	181	73	109	337	18	40
Repurchase of Common Equity	0.00	-	0.00	0.00	-0.28	0.00	0.00
Issuance of Debt	-	-	0.00	0.00	305	0.00	0.00
Issuance of Common Equity	67	132	9.01	115	227	18	40
Other Financing Activities, net	0.00	50	64	-5.55	-196	0.00	0.00
Effect of Exchange Rate Changes	-	0.03	-0.00	0.01	-0.13	-1.30	3.22
Cash Interest Paid	-	-	0.00	0.00	6.82	13	13
Cash Income Taxes Paid	0.02	0.01	0.00	0.00	0.13	1.00	2.16

This table details how cash moves in and out of Mirum Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
Net Change in Cash & Equivalents	-17	17	-69	-10	-0.47	-11	16	54	16	28	5.82
Net Cash From Operating Activities	-17	15	-3.80	3.98	-5.07	-1.96	12	40	6.07	-229	-44
Net Cash From Continuing Operating Activities	-17	15	-3.80	3.98	-5.07	-1.96	12	40	6.07	-229	-44
Net Income / (Loss) Continuing Operations	-36	-25	-25	-14	-24	-15	-5.86	2.91	-5.73	-790	-67
Consolidated Net Income / (Loss)	-36	-25	-25	-14	-24	-15	-5.86	2.91	-5.73	-790	-67
Depreciation Expense	5.49	5.66	5.85	6.06	6.06	6.05	6.06	6.06	6.07	6.87	6.94
Amortization Expense	0.40	0.41	0.41	0.42	0.42	0.43	0.43	0.44	0.44	0.45	0.66
Non-Cash Adjustments To Reconcile Net Income	21	10	15	8.41	14	18	18	18	19	453	43
Changes in Operating Assets and Liabilities, net	-7.45	24	-0.79	3.33	-1.68	-11	-6.56	12	-14	101	-28
Net Cash From Investing Activities	-2.00	-0.01	-73	-18	0.64	-16	-6.60	-2.23	1.01	-12	-160
Net Cash From Continuing Investing Activities	-2.00	-0.01	-73	-18	0.64	-16	-6.60	-2.23	1.01	-12	-160
Purchase of Property, Plant & Equipment	-	-0.01	-0.78	-0.18	-0.02	-0.04	-0.13	-0.19	-0.60	-0.66	-0.02
Acquisitions	-5.00	-	-10	-10	-	0.00	-	-	-	-10	-25
Purchase of Investments	-	0.00	-62	-16	-11	-34	-32	-21	-12	-35	-161
Sale and/or Maturity of Investments	3.00	0.00	-	7.75	12	17	25	19	13	34	26
Net Cash From Financing Activities	1.78	1.21	7.29	3.86	5.34	6.36	8.69	16	9.00	270	211
Net Cash From Continuing Financing Activities	1.78	1.21	7.29	3.86	5.34	6.36	8.69	16	9.00	270	211
Issuance of Common Equity	2.06	1.21	7.29	3.86	5.34	6.36	8.69	16	9.00	270	13
Effect of Exchange Rate Changes	0.11	0.11	-0.12	0.09	-1.38	1.06	2.23	0.35	-0.41	-1.27	-1.37
Cash Income Taxes Paid	0.13	0.14	0.20	0.43	0.23	0.16	1.49	0.50	0.01	0.22	0.91

This table presents Mirum Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	52	147	241	295	353	647	671	843
Total Current Assets	52	119	236	167	190	388	393	550
Cash & Equivalents	52	12	142	31	28	286	223	297
Restricted Cash	-	-	-	-	-	0.00	0.43	1.48
Short-Term Investments	0.00	105	90	125	124	0.00	58	87
Accounts Receivable	-	-	0.00	3.27	24	68	78	123
Inventories, net	-	-	0.00	1.51	5.57	22	22	25
Prepaid Expenses	0.01	2.70	4.53	5.27	8.95	11	12	18
Plant, Property, & Equipment, net	0.00	1.37	1.29	0.98	0.91	0.71	1.14	1.86
Total Noncurrent Assets	0.00	26	3.22	127	162	258	276	290
Long-Term Investments	0.00	23	0.00	4.98	-	0.00	13	8.11
Intangible Assets	-	-	0.00	19	59	253	250	261
Other Noncurrent Operating Assets	0.00	2.69	3.22	103	103	5.45	14	21
Total Liabilities & Shareholders' Equity	52	147	241	295	353	647	671	843
Total Liabilities	2.45	16	69	174	211	398	445	528
Total Current Liabilities	2.45	13	18	43	65	87	127	206
Accounts Payable	0.27	3.35	3.15	9.17	8.69	7.42	15	9.61
Accrued Expenses	2.18	9.33	13	31	54	79	112	196
Other Current Liabilities	0.00	0.40	1.90	2.71	2.02	1.10	-	0.00
Total Noncurrent Liabilities	0.00	3.29	50	132	146	311	319	322
Long-Term Debt	-	-	-	-	0.00	306	308	310
Other Noncurrent Operating Liabilities	0.00	3.29	50	132	146	4.47	10	13
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-17	130	172	120	142	249	226	315
Total Preferred & Common Equity	-17	130	172	120	142	249	226	315
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-17	130	172	120	142	249	226	315
Common Stock	0.04	200	345	377	535	803	870	982
Retained Earnings	-17	-70	-173	-257	-393	-556	-644	-668
Accumulated Other Comprehensive Income / (Loss)	0.00	0.13	0.08	-0.04	-0.22	1.64	-0.37	0.35

This table presents Mirum Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026	6/30/2026
Total Assets	334	444	651	652	661	668	690	726	785	891	1,045
Total Current Assets	172	384	389	389	368	387	411	453	531	569	636
Cash & Equivalents	49	297	303	303	233	223	212	228	282	325	331
Restricted Cash	-	-	0.00	-	0.25	0.43	0.43	0.48	0.48	1.73	1.73
Short-Term Investments	83	33	2.97	-	45	61	66	76	94	61	108
Accounts Receivable	25	35	48	55	60	69	96	107	107	133	145
Inventories, net	6.61	8.51	22	22	20	22	22	23	24	26	26
Prepaid Expenses	8.99	9.73	12	10	8.59	12	15	19	24	25	27
Plant, Property, & Equipment, net	0.88	0.87	0.79	0.50	1.10	1.21	1.11	1.18	1.28	2.41	2.25
Total Noncurrent Assets	160	59	261	262	292	280	278	271	253	317	405
Long-Term Investments	-	-	-	-	17	9.32	21	17	2.47	34	123
Intangible Assets	58	56	258	257	262	256	244	238	232	254	247
Other Noncurrent Operating Assets	103	2.77	2.94	4.55	13	15	13	16	18	29	34
Total Liabilities & Shareholders' Equity	334	444	651	652	661	668	690	726	785	891	1,045
Total Liabilities	192	365	382	417	432	436	457	471	493	648	1,055
Total Current Liabilities	49	58	75	106	112	116	128	145	160	273	223
Accounts Payable	6.44	14	7.37	16	9.84	9.55	12	18	12	59	23
Accrued Expenses	40	43	66	90	101	105	116	127	148	188	175
Other Current Liabilities	2.00	1.06	1.08	0.36	1.07	1.51	-	-	-	26	25
Total Noncurrent Liabilities	144	307	307	311	319	320	329	326	333	376	833
Long-Term Debt	-	306	306	307	307	308	309	309	309	310	750
Other Noncurrent Operating Liabilities	144	1.16	0.88	4.62	12	12	21	17	23	65	83
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	141	79	269	235	229	232	233	255	292	242	-10
Total Preferred & Common Equity	141	79	269	235	229	232	233	255	292	242	-10
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	141	79	269	235	229	232	233	255	292	242	-10
Common Stock	564	576	791	816	836	851	892	920	954	1,700	1,515
Retained Earnings	-423	-497	-521	-582	-606	-620	-659	-665	-662	-1,458	-1,525
Accumulated Other Comprehensive Income / (Loss)	0.14	0.08	-1.46	-0.01	-0.48	0.92	-0.26	0.35	0.04	-0.03	-0.67

This table displays calculated financial ratios and metrics derived from Mirum Pharmaceuticals' official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	0.00%	302.66%	141.85%	80.76%	54.74%
EBITDA Growth	0.00%	-89.78%	36.24%	-91.76%	21.28%	38.92%	110.18%
EBIT Growth	0.00%	-90.80%	36.14%	-95.29%	14.07%	22.85%	77.12%
NOPAT Growth	0.00%	-90.52%	-66.27%	24.33%	16.82%	19.74%	74.73%
Net Income Growth	0.00%	-96.51%	18.67%	-61.53%	-20.45%	46.18%	73.43%
EPS Growth	0.00%	10.70%	32.27%	-45.13%	0.50%	53.75%	74.59%
Operating Cash Flow Growth	0.00%	-126.30%	-49.04%	9.51%	40.95%	114.55%	440.70%
Free Cash Flow Firm Growth	0.00%	0.00%	-510.88%	11.67%	-187.37%	90.70%	79.97%
Invested Capital Growth	0.00%	-521.94%	30.83%	76.56%	2,875.92%	-10.53%	-3.69%
Revenue Q/Q Growth	0.00%	0.00%	19.61%	47.36%	28.78%	9.73%	10.50%
EBITDA Q/Q Growth	0.00%	-21.35%	59.72%	-282.02%	3.97%	18.60%	147.74%
EBIT Q/Q Growth	0.00%	-21.31%	59.56%	-276.47%	-1.42%	11.89%	49.28%
NOPAT Q/Q Growth	0.00%	-21.27%	-5.23%	8.00%	1.42%	8.71%	47.03%
Net Income Q/Q Growth	0.00%	-22.91%	53.01%	-225.43%	0.47%	11.89%	43.60%
EPS Q/Q Growth	0.00%	-417.05%	54.74%	-258.93%	6.98%	9.76%	45.35%
Operating Cash Flow Q/Q Growth	0.00%	-33.96%	2.30%	-0.94%	19.92%	942.86%	24.92%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-806.47%	46.87%	2.15%	24.28%	0.88%
Invested Capital Q/Q Growth	0.00%	-342.60%	72.21%	39.68%	-0.11%	-2.05%	3.88%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	0.00%	0.00%	100.00%	83.94%	74.76%	75.77%	80.77%
EBITDA Margin	0.00%	0.00%	-346.27%	-164.90%	-53.67%	-18.14%	1.19%
Operating Margin	0.00%	0.00%	-906.12%	-170.28%	-58.57%	-26.00%	-4.25%
EBIT Margin	0.00%	0.00%	-348.66%	-169.10%	-60.08%	-25.64%	-3.79%
Profit (Net Income) Margin	0.00%	0.00%	-438.85%	-176.05%	-87.68%	-26.10%	-4.48%
Tax Burden Percent	100.04%	100.01%	100.04%	95.49%	100.61%	101.19%	109.04%
Interest Burden Percent	95.92%	98.83%	125.81%	109.02%	145.05%	100.60%	108.41%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	-58.98%	-24.09%	-6.57%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	73.22%	-176.58%	16.47%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	-24.67%	-13.00%	-2.08%
Return on Equity (ROE)	-58.43%	-68.29%	-57.47%	-103.46%	-83.65%	-37.08%	-8.65%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	-132.03%	-12.97%	-2.80%
Operating Return on Assets (OROA)	0.00%	0.00%	-24.92%	-40.25%	-22.41%	-13.12%	-2.61%
Return on Assets (ROA)	0.00%	0.00%	-31.37%	-41.90%	-32.70%	-13.35%	-3.09%
Return on Common Equity (ROCE)	-36.72%	-68.29%	-57.47%	-103.46%	-83.65%	-37.08%	-8.65%
Return on Equity Simple (ROE_SIMPLE)	-40.32%	-60.01%	-69.87%	-95.51%	-65.72%	-38.97%	0.00%
Net Operating Profit after Tax (NOPAT)	-38	-73	-121	-92	-76	-61	-15
NOPAT Margin	0.00%	0.00%	-634.28%	-119.19%	-41.00%	-18.20%	-2.97%
Net Nonoperating Expense Percent (NNEP)	-10.17%	-16.28%	19.02%	-27.97%	-132.21%	152.49%	-23.04%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-64.67%	-13.76%	-11.49%	-2.48%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	16.06%	25.24%	24.23%	19.23%
SG&A Expenses to Revenue	0.00%	0.00%	309.44%	115.58%	78.27%	60.03%	49.30%
R&D to Revenue	0.00%	0.00%	686.74%	138.64%	55.06%	41.74%	35.71%
Operating Expenses to Revenue	0.00%	0.00%	1,006.12%	254.22%	133.33%	101.77%	85.02%
Earnings before Interest and Taxes (EBIT)	-55	-104	-67	-130	-112	-86	-20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-55	-104	-66	-127	-100	-61	6.22
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.32	2.61	4.07	5.06	5.53	8.80	12.90
Price to Tangible Book Value (P/TBV)	4.32	2.61	4.82	8.65	0.00	0.00	75.50
Price to Revenue (P/Rev)	0.00	0.00	25.53	9.33	7.38	5.89	7.79
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	5.19	8.32	17.17
Enterprise Value to Revenue (EV/Rev)	0.00	0.00	17.09	7.36	7.49	5.94	7.63
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	639.51
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	193.69	71.23
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	1.23	1.37	0.98
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	1.23	1.37	0.98
Financial Leverage	-1.07	-1.23	-1.35	-1.19	-0.34	0.07	-0.13
Leverage Ratio	1.10	1.28	1.83	2.47	2.56	2.78	2.80
Compound Leverage Factor	1.06	1.27	2.30	2.69	3.71	2.79	3.04
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	55.20%	57.72%	49.61%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	55.20%	57.72%	49.61%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	44.80%	42.28%	50.39%
Debt to EBITDA	0.00	0.00	0.00	0.00	-3.06	-5.04	49.82
Net Debt to EBITDA	0.00	0.00	0.00	0.00	-0.20	-0.24	-13.37
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	-3.06	-5.04	49.82
Debt to NOPAT	0.00	0.00	0.00	0.00	-4.01	-5.02	-19.99
Net Debt to NOPAT	0.00	0.00	0.00	0.00	-0.26	-0.24	5.36
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	-4.01	-5.02	-19.99
Altman Z-Score	19.64	2.57	0.28	-0.09	1.14	1.88	4.53
Noncontrolling Interest Sharing Ratio	37.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	9.13	12.80	3.91	2.94	4.45	3.10	2.67
Quick Ratio	8.92	12.56	3.75	2.71	4.07	2.83	2.46
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-23	-140	-123	-355	-33	-6.61
Operating Cash Flow to CapEx	-14,007.83%	-39,588.89%	-553,158.33%	-43,214.39%	-65,086.24%	1,039.78%	5,851.89%
Free Cash Flow to Firm to Interest Expense	0.00	-68.31	-7.95	-7.73	-5.53	-2.31	-0.46
Operating Cash Flow to Interest Expense	0.00	-265.90	-7.55	-7.52	-1.11	0.72	3.88
Operating Cash Flow Less CapEx to Interest Expense	0.00	-266.57	-7.55	-7.54	-1.11	0.65	3.81
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.00	0.07	0.24	0.37	0.51	0.69
Accounts Receivable Turnover	0.00	0.00	0.00	5.65	4.05	4.61	5.17
Inventory Turnover	0.00	0.00	0.00	3.50	3.37	3.65	4.24
Fixed Asset Turnover	0.00	0.00	16.83	81.33	230.09	365.19	347.43
Accounts Payable Turnover	0.00	0.00	0.00	1.39	5.84	7.41	8.27
Days Sales Outstanding (DSO)	0.00	0.00	0.00	64.56	90.05	79.23	70.58
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	104.39	108.16	99.95	86.10
Days Payable Outstanding (DPO)	0.00	0.00	0.00	263.35	62.49	49.25	44.12
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	-94.40	135.72	129.93	112.56
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	-9.60	-60	-41	-9.68	269	240	232
Invested Capital Turnover	0.00	0.00	-0.38	-3.02	1.44	1.32	2.21
Increase / (Decrease) in Invested Capital	0.00	-50	18	32	278	-28	-8.88
Enterprise Value (EV)	424	217	327	567	1,396	2,000	3,976
Market Capitalization	564	449	489	719	1,376	1,985	4,060
Book Value per Share	$5.67	$6.69	$3.92	$3.85	$5.33	$4.70	$6.12
Tangible Book Value per Share	$5.67	$6.69	$3.31	$2.25	($0.09)	($0.50)	$1.05
Total Capital	130	172	120	142	555	534	624
Total Debt	0.00	0.00	0.00	0.00	306	308	310
Total Long-Term Debt	0.00	0.00	0.00	0.00	306	308	310
Net Debt	-140	-232	-162	-152	20	15	-83
Capital Expenditures (CapEx)	0.28	0.23	0.02	0.28	0.11	0.99	0.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-10	-14	-33	-26	14	-15	-41
Debt-free Net Working Capital (DFNWC)	106	218	124	125	300	266	344
Net Working Capital (NWC)	106	218	124	125	300	266	344
Net Nonoperating Expense (NNE)	14	30	-37	44	87	27	7.87
Net Nonoperating Obligations (NNO)	-140	-232	-162	-152	20	15	-83
Total Depreciation and Amortization (D&A)	-0.00	0.55	0.46	3.24	12	25	26
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	0.00%	-170.05%	-34.03%	7.59%	-4.31%	-7.85%
Debt-free Net Working Capital to Revenue	0.00%	0.00%	647.90%	162.85%	161.22%	79.03%	65.97%
Net Working Capital to Revenue	0.00%	0.00%	647.90%	162.85%	161.22%	79.03%	65.97%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($4.58)	($4.09)	($2.77)	($4.01)	($4.00)	($1.85)	($0.47)
Adjusted Weighted Average Basic Shares Outstanding	25.39M	30.42M	31.73M	33.84M	40.89M	47.52M	50.20M
Adjusted Diluted Earnings per Share	($4.58)	($4.09)	($2.77)	($4.02)	($4.00)	($1.85)	($0.47)
Adjusted Weighted Average Diluted Shares Outstanding	25.39M	30.42M	31.73M	33.98M	40.89M	47.52M	50.20M
Adjusted Basic & Diluted Earnings per Share	($4.58)	($4.09)	($2.77)	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	11.49M	25.25M	30.32M	37.95M	47.00M	49.01M	60.34M
Normalized Net Operating Profit after Tax (NOPAT)	-38	-73	-121	-92	-76	-61	-15
Normalized NOPAT Margin	0.00%	0.00%	-634.28%	-119.19%	-41.00%	-18.20%	-2.97%
Pre Tax Income Margin	0.00%	0.00%	-438.66%	-184.36%	-87.15%	-25.80%	-4.11%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	-311.90	-3.79	-8.16	-1.74	-6.04	-1.37
NOPAT to Interest Expense	0.00	-217.93	-6.90	-5.75	-1.19	-4.29	-1.08
EBIT Less CapEx to Interest Expense	0.00	-312.58	-3.79	-8.17	-1.75	-6.11	-1.44
NOPAT Less CapEx to Interest Expense	0.00	-218.60	-6.90	-5.77	-1.19	-4.35	-1.14
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	-0.17%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Mirum Pharmaceuticals' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026	6/30/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	60,341,617.00	60,981,227.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	60,341,617.00	60,981,227.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-13.09	-1.10
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	149.24%	119.07%	107.68%	89.37%	42.93%	61.20%	64.09%	47.17%	49.81%	43.28%	37.92%
EBITDA Growth	8.60%	30.01%	22.90%	64.86%	41.12%	64.63%	108.95%	230.32%	109.85%	-11,768.54%	-3,845.38%
EBIT Growth	-3.50%	11.62%	2.55%	42.20%	32.70%	47.09%	79.50%	121.77%	80.06%	-5,937.97%	-1,261.84%
NOPAT Growth	4.61%	2.50%	0.17%	49.56%	25.67%	42.64%	79.41%	132.22%	81.15%	-5,099.66%	-752.62%
Net Income Growth	2.12%	16.10%	66.72%	39.65%	33.28%	41.94%	76.21%	120.41%	75.91%	-5,283.63%	-1,047.02%
EPS Growth	30.30%	32.50%	73.20%	47.37%	28.99%	44.44%	76.92%	116.67%	79.59%	-4,376.67%	-783.33%
Operating Cash Flow Growth	51.51%	181.03%	78.06%	121.86%	69.50%	-112.89%	416.59%	896.01%	219.71%	-11,565.63%	-467.54%
Free Cash Flow Firm Growth	-442.39%	-320.01%	-137.63%	104.85%	103.77%	94.04%	97.59%	73.15%	-49.92%	-2,877.40%	825.12%
Invested Capital Growth	2,875.92%	2,528.57%	343.24%	-8.76%	-10.53%	1.74%	0.59%	-9.20%	-3.69%	-46.28%	-27.01%
Revenue Q/Q Growth	45.74%	-0.48%	12.50%	16.05%	10.00%	12.24%	14.52%	4.09%	11.97%	7.35%	10.23%
EBITDA Q/Q Growth	-43.37%	37.44%	5.23%	58.71%	-140.25%	62.38%	123.98%	501.46%	-81.85%	-45,441.28%	92.43%
EBIT Q/Q Growth	-49.61%	30.68%	3.20%	42.43%	-74.21%	45.50%	62.50%	161.15%	-259.61%	-16,398.75%	91.54%
NOPAT Q/Q Growth	-29.57%	18.77%	8.45%	47.66%	-90.97%	37.32%	67.14%	181.92%	-211.74%	-17,186.29%	94.61%
Net Income Q/Q Growth	-51.17%	29.11%	2.54%	42.22%	-67.12%	38.31%	60.07%	149.56%	-297.25%	-13,689.79%	91.49%
EPS Q/Q Growth	-21.05%	21.74%	3.70%	42.31%	-63.33%	38.78%	60.00%	141.67%	-300.00%	-13,330.00%	92.11%
Operating Cash Flow Q/Q Growth	8.80%	191.54%	-125.00%	204.76%	-227.21%	61.31%	713.97%	229.58%	-84.71%	-3,870.61%	80.66%
Free Cash Flow Firm Q/Q Growth	0.49%	17.66%	18.07%	107.23%	-22.74%	-230.24%	66.83%	618.71%	-77.65%	-7,842.94%	108.08%
Invested Capital Q/Q Growth	-0.11%	-11.23%	0.81%	2.06%	-2.05%	0.96%	-0.33%	-7.87%	3.88%	-43.69%	35.43%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	64.03%	74.24%	74.03%	76.98%	77.09%	79.37%	81.67%	80.80%	81.02%	81.98%	82.78%
EBITDA Margin	-42.78%	-26.92%	-22.68%	-8.07%	-17.62%	-5.91%	1.24%	7.14%	1.16%	-489.20%	-33.58%
Operating Margin	-46.85%	-38.24%	-31.12%	-14.03%	-24.36%	-13.61%	-3.90%	1.96%	-3.07%	-493.78%	-24.14%
EBIT Margin	-51.25%	-35.70%	-30.72%	-15.24%	-24.13%	-11.72%	-3.84%	2.25%	-3.21%	-493.78%	-37.89%
Profit (Net Income) Margin	-51.27%	-36.52%	-31.64%	-15.75%	-23.93%	-13.15%	-4.59%	2.18%	-3.85%	-494.21%	-38.14%
Tax Burden Percent	100.64%	102.53%	102.65%	102.50%	97.64%	107.54%	107.36%	109.91%	115.45%	100.06%	102.58%
Interest Burden Percent	99.41%	99.77%	100.35%	100.85%	101.56%	104.38%	111.34%	88.16%	103.72%	100.03%	98.15%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-9.91%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-47.18%	-48.41%	-39.07%	-11.72%	-22.57%	-15.01%	-4.86%	4.33%	-4.74%	-1,055.24%	-49.90%
ROIC Less NNEP Spread (ROIC-NNEP)	-27.66%	-37.87%	80.89%	-91.27%	-61.72%	-75.04%	279.67%	4.18%	2.68%	-592.20%	-92.99%
Return on Net Nonoperating Assets (RNNOA)	9.32%	12.91%	-3.37%	-2.45%	-4.54%	-2.16%	-0.96%	-0.44%	-0.34%	127.71%	-66.04%
Return on Equity (ROE)	-37.86%	-35.51%	-42.43%	-14.18%	-27.11%	-17.17%	-5.82%	3.89%	-5.08%	-927.53%	-115.94%
Cash Return on Invested Capital (CROIC)	-132.03%	-246.66%	-177.86%	-16.95%	-12.97%	-23.93%	-17.15%	-2.85%	-2.80%	-238.58%	-247.73%
Operating Return on Assets (OROA)	-19.11%	-16.23%	-14.71%	-7.10%	-12.34%	-6.62%	-2.38%	1.46%	-2.21%	-355.77%	-26.45%
Return on Assets (ROA)	-19.12%	-16.60%	-15.15%	-7.34%	-12.24%	-7.43%	-2.84%	1.42%	-2.65%	-356.08%	-26.63%
Return on Common Equity (ROCE)	-37.86%	-35.51%	-42.43%	-14.18%	-27.11%	-17.17%	-5.82%	3.89%	-5.08%	-927.53%	-115.94%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-67.59%	-47.67%	-43.02%	0.00%	-33.16%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-23	-19	-17	-8.88	-17	-11	-3.49	2.86	-3.20	-553	-30
NOPAT Margin	-32.79%	-26.77%	-21.78%	-9.82%	-17.06%	-9.52%	-2.73%	2.15%	-2.15%	-345.65%	-16.89%
Net Nonoperating Expense Percent (NNEP)	-19.52%	-10.54%	-119.96%	79.55%	39.15%	60.03%	-284.53%	0.16%	-7.42%	-463.04%	43.09%
Return On Investment Capital (ROIC_SIMPLE)	-4.11%	-	-	-	-3.18%	-1.96%	-0.62%	0.48%	-0.51%	-99.98%	-4.03%
Cost of Revenue to Revenue	35.97%	25.76%	25.97%	23.02%	22.91%	20.63%	18.33%	19.20%	18.98%	18.02%	17.22%
SG&A Expenses to Revenue	66.40%	65.93%	63.19%	55.93%	57.17%	51.71%	49.53%	46.55%	49.77%	60.25%	46.23%
R&D to Revenue	44.48%	46.55%	41.95%	35.09%	44.29%	41.26%	36.05%	32.30%	34.32%	515.51%	60.69%
Operating Expenses to Revenue	110.88%	112.48%	105.14%	91.01%	101.45%	92.98%	85.58%	78.84%	84.09%	575.76%	106.92%
Earnings before Interest and Taxes (EBIT)	-36	-25	-24	-14	-24	-13	-4.90	3.00	-4.79	-789	-67
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-30	-19	-18	-7.29	-18	-6.59	1.58	9.50	1.73	-782	-59
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.53	5.03	7.04	8.02	8.80	9.47	9.88	12.61	12.90	22.99	0.00
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	145.81	61.23	75.50	0.00	0.00
Price to Revenue (P/Rev)	7.38	5.27	6.10	6.06	5.89	5.82	5.87	7.81	7.79	9.79	11.55
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	5.19	4.97	6.75	7.63	8.32	9.14	10.36	16.21	17.17	41.89	41.48
Enterprise Value to Revenue (EV/Rev)	7.49	5.29	6.14	6.10	5.94	5.85	5.84	7.66	7.63	9.59	11.85
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	639.51	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	193.69	0.00	278.78	80.86	71.23	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.23	1.31	1.34	1.33	1.37	1.32	1.21	1.06	0.98	1.28	-71.97
Long-Term Debt to Equity	1.23	1.31	1.34	1.33	1.37	1.32	1.21	1.06	0.98	1.28	-71.97
Financial Leverage	-0.34	-0.34	-0.04	0.03	0.07	0.03	0.00	-0.11	-0.13	-0.22	0.71
Leverage Ratio	2.56	2.62	3.59	2.63	2.78	2.87	2.86	2.77	2.80	3.32	7.24
Compound Leverage Factor	2.54	2.62	3.60	2.65	2.82	2.99	3.19	2.44	2.91	3.32	7.10
Debt to Total Capital	55.20%	56.67%	57.30%	57.01%	57.72%	56.95%	54.77%	51.44%	49.61%	56.13%	101.41%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	55.20%	56.67%	57.30%	57.01%	57.72%	56.95%	54.77%	51.44%	49.61%	56.13%	101.41%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	44.80%	43.33%	42.70%	42.99%	42.28%	43.05%	45.23%	48.56%	50.39%	43.87%	-1.41%
Debt to EBITDA	-3.06	-3.27	-3.47	-4.10	-5.04	-6.29	-10.36	-23.75	49.82	-0.40	-0.90
Net Debt to EBITDA	-0.20	-0.04	-0.13	-0.18	-0.24	-0.19	0.44	5.31	-13.37	0.15	-0.23
Long-Term Debt to EBITDA	-3.06	-3.27	-3.47	-4.10	-5.04	-6.29	-10.36	-23.75	49.82	-0.40	-0.90
Debt to NOPAT	-4.01	-4.04	-4.05	-4.58	-5.02	-5.77	-7.73	-10.58	-19.99	-0.56	-1.28
Net Debt to NOPAT	-0.26	-0.05	-0.15	-0.20	-0.24	-0.18	0.33	2.36	5.36	0.20	-0.32
Long-Term Debt to NOPAT	-4.01	-4.04	-4.05	-4.58	-5.02	-5.77	-7.73	-10.58	-19.99	-0.56	-1.28
Altman Z-Score	1.53	1.19	1.70	2.14	2.19	2.54	3.01	4.48	4.59	0.98	2.87
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	4.45	3.68	3.28	3.34	3.10	3.22	3.13	3.31	2.67	2.09	2.86
Quick Ratio	4.07	3.38	3.02	3.05	2.83	2.93	2.84	3.01	2.46	1.90	2.62
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-301	-248	-203	15	11	-15	-4.91	25	5.69	-440	36
Operating Cash Flow to CapEx	0.00%	117,015.38%	-488.19%	2,201.11%	-25,340.00%	-4,782.93%	9,555.56%	21,219.79%	1,011.17%	-34,452.26%	-192,400.00%
Free Cash Flow to Firm to Interest Expense	-84.55	-69.34	-56.94	4.10	3.17	-4.11	-1.37	7.06	1.58	-121.76	13.59
Operating Cash Flow to Interest Expense	-4.66	4.25	-1.07	1.11	-1.42	-0.55	3.35	11.00	1.69	-63.26	-16.90
Operating Cash Flow Less CapEx to Interest Expense	-4.66	4.25	-1.28	1.06	-1.42	-0.56	3.32	10.95	1.52	-63.45	-16.91
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.37	0.45	0.48	0.47	0.51	0.57	0.62	0.65	0.69	0.72	0.70
Accounts Receivable Turnover	4.05	5.62	5.52	5.28	4.61	5.03	5.13	5.37	5.17	4.98	4.90
Inventory Turnover	3.37	0.91	1.81	1.68	3.65	3.94	4.15	4.15	4.24	4.42	4.64
Fixed Asset Turnover	230.09	325.11	268.81	307.18	365.19	471.41	376.79	379.10	347.43	323.64	360.60
Accounts Payable Turnover	5.84	1.15	2.16	4.36	7.41	6.29	6.55	8.73	8.27	2.99	5.50
Days Sales Outstanding (DSO)	90.05	64.90	66.10	69.17	79.23	72.59	71.13	67.95	70.58	73.36	74.47
Days Inventory Outstanding (DIO)	108.16	400.74	201.13	217.17	99.95	92.53	87.94	87.85	86.10	82.51	78.70
Days Payable Outstanding (DPO)	62.49	318.43	168.76	83.78	49.25	58.06	55.75	41.82	44.12	122.27	66.38
Cash Conversion Cycle (CCC)	135.72	147.21	98.47	202.56	129.93	107.06	103.32	113.99	112.56	33.59	86.79
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	269	239	241	245	240	243	242	223	232	130	177
Invested Capital Turnover	1.44	1.81	1.79	1.19	1.32	1.58	1.78	2.01	2.21	3.05	2.95
Increase / (Decrease) in Invested Capital	278	230	186	-24	-28	4.16	1.41	-23	-8.88	-112	-65
Enterprise Value (EV)	1,396	1,185	1,623	1,874	2,000	2,218	2,508	3,614	3,976	5,462	7,326
Market Capitalization	1,376	1,181	1,611	1,861	1,985	2,208	2,521	3,683	4,060	5,574	7,139
Book Value per Share	$5.33	$4.99	$4.86	$4.86	$4.70	$4.76	$5.15	$5.81	$6.12	$4.02	($0.17)
Tangible Book Value per Share	($0.09)	($0.49)	($0.70)	($0.50)	($0.50)	($0.22)	$0.35	$1.20	$1.05	($0.19)	($4.23)
Total Capital	555	541	536	540	534	542	564	601	624	553	740
Total Debt	306	307	307	308	308	309	309	309	310	310	750
Total Long-Term Debt	306	307	307	308	308	309	309	309	310	310	750
Net Debt	20	3.99	12	13	15	9.50	-13	-69	-83	-112	187
Capital Expenditures (CapEx)	0.00	0.01	0.78	0.18	0.02	0.04	0.13	0.19	0.60	0.66	0.02
Debt-free, Cash-free Net Working Capital (DFCFNWC)	14	-19	-23	-14	-15	5.14	3.57	-5.81	-41	-91	-27
Debt-free Net Working Capital (DFNWC)	300	284	256	271	266	283	309	370	344	297	414
Net Working Capital (NWC)	300	284	256	271	266	283	309	370	344	297	414
Net Nonoperating Expense (NNE)	13	6.75	7.68	5.36	6.83	4.05	2.37	-0.04	2.53	238	37
Net Nonoperating Obligations (NNO)	20	3.99	12	13	15	9.50	-13	-69	-83	-112	187
Total Depreciation and Amortization (D&A)	5.89	6.08	6.26	6.48	6.47	6.49	6.48	6.51	6.51	7.33	7.59
Debt-free, Cash-free Net Working Capital to Revenue	7.59%	-8.61%	-8.74%	-4.56%	-4.31%	1.36%	0.83%	-1.23%	-7.85%	-16.04%	-4.29%
Debt-free Net Working Capital to Revenue	161.22%	126.59%	96.65%	88.22%	79.03%	74.68%	71.91%	78.47%	65.97%	52.07%	66.91%
Net Working Capital to Revenue	161.22%	126.59%	96.65%	88.22%	79.03%	74.68%	71.91%	78.47%	65.97%	52.07%	66.91%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.69)	($0.54)	($0.52)	($0.30)	($0.49)	($0.30)	($0.12)	$0.06	($0.11)	($13.43)	($1.06)
Adjusted Weighted Average Basic Shares Outstanding	40.89M	46.93M	47.24M	47.78M	47.52M	48.89M	49.73M	50.64M	50.20M	58.85M	63.37M
Adjusted Diluted Earnings per Share	($0.69)	($0.54)	($0.52)	($0.30)	($0.49)	($0.30)	($0.12)	$0.05	($0.10)	($13.43)	($1.06)
Adjusted Weighted Average Diluted Shares Outstanding	40.89M	46.93M	47.24M	47.78M	47.52M	48.89M	49.73M	56.99M	50.20M	58.85M	63.37M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	47.00M	47.13M	47.71M	48.00M	49.01M	49.53M	50.24M	51.39M	60.34M	60.98M	64.93M
Normalized Net Operating Profit after Tax (NOPAT)	-23	-19	-17	-8.88	-17	-11	-3.49	1.82	-3.20	-553	-30
Normalized NOPAT Margin	-32.79%	-26.77%	-21.78%	-9.82%	-17.06%	-9.52%	-2.73%	1.37%	-2.15%	-345.65%	-16.89%
Pre Tax Income Margin	-50.94%	-35.62%	-30.82%	-15.37%	-24.51%	-12.23%	-4.27%	1.99%	-3.33%	-493.91%	-37.19%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-10.00	-6.91	-6.70	-3.84	-6.70	-3.64	-1.37	0.83	-1.33	-218.33	-25.50
NOPAT to Interest Expense	-6.40	-5.18	-4.75	-2.48	-4.74	-2.96	-0.97	0.79	-0.89	-152.83	-11.37
EBIT Less CapEx to Interest Expense	-10.00	-6.91	-6.92	-3.89	-6.71	-3.65	-1.40	0.78	-1.50	-218.51	-25.51
NOPAT Less CapEx to Interest Expense	-6.40	-5.18	-4.97	-2.53	-4.74	-2.97	-1.01	0.74	-1.06	-153.01	-11.38
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	-0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Mirum Pharmaceuticals is still growing revenue quickly, but profitability remains a major challenge. In Q1 2026, the company posted $159.9 million in revenue, up from $148.9 million in Q4 2025 and $111.6 million in Q1 2025. However, operating losses widened sharply because expenses, especially R&D, rose much faster than sales.

The big picture: Mirum’s top line has improved meaningfully over the last several years, and the balance sheet still shows a sizable cash position. But the company has also relied on recurring equity issuance to fund operations, and quarterly cash burn turned negative again in Q1 2026. That means investors should focus on whether revenue growth can eventually outpace the company’s heavy spending.

Revenue continued to climb year over year, reaching $159.9 million in Q1 2026 versus $111.6 million in Q1 2025.
Gross profit also increased to $131.1 million in Q1 2026, showing the underlying business is scaling.
The company ended Q1 2026 with $387.0 million in cash, cash equivalents and short-term investments, plus another $34.4 million in long-term investments.
Cash and investments still provide meaningful liquidity support despite ongoing losses.
Revenue growth has been consistent across the last several quarters, with sales rising from $69.2 million in Q1 2024 to $159.9 million in Q1 2026.
Q1 2026 operating cash flow was negative $228.8 million, but this was heavily distorted by a very large non-cash reconciliation item.
The company’s long-term debt remained relatively stable at about $310.3 million in Q1 2026.
Common shares outstanding have trended higher over time, which can dilute per-share results.
Intangible assets remain a large part of the balance sheet, reflecting prior acquisition activity and acquired drug assets.
Q1 2026 net loss widened dramatically to $790.2 million, compared with a $5.7 million loss in Q4 2025 and a $14.7 million loss in Q1 2025.
Operating expenses surged to $920.5 million in Q1 2026, driven by $824.2 million of R&D spending and $96.3 million of SG&A.
The company posted a massive operating loss of $789.5 million in Q1 2026.
Quarterly operating cash flow turned negative at $228.8 million in Q1 2026 after being positive in most of 2025.
Mirum has repeatedly issued common equity to fund operations, including $270.1 million in Q1 2026.
Retained earnings remain deeply negative at $1.46 billion, reflecting a long history of losses.

Trend summary: Over the last four years, Mirum has moved from a much smaller revenue base to a more meaningful commercial stage, and that is the clearest positive in the story. But the income statement shows that expense growth has been extreme, particularly in R&D, and that has prevented profitability from improving in a sustainable way. The balance sheet is still liquid, but the company’s dependence on financing and dilution is a risk if operating losses remain this large.

What investors may want to watch next: whether revenue growth continues, whether R&D spending normalizes, and whether the company can reduce its reliance on equity financing while preserving its cash runway.

08/23/26 02:43 PM ETAI Generated. May Contain Errors.

Mirum Pharmaceuticals Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Mirum Pharmaceuticals' financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Mirum Pharmaceuticals' net income were at -$23.36 million at the end of 2025, a 73.4% decrease from 2024, and a 55.5% decrease since 2019. View Mirum Pharmaceuticals' forecast to see where analysts expect Mirum Pharmaceuticals to go next.

Mirum Pharmaceuticals' total operating income in 2025 was -$22.14 million, based on the following breakdown:

Total Gross Profit: $421.07 million
Total Operating Expenses: $443.21 million

Over the last 6 years, Mirum Pharmaceuticals' total revenue changed from $0.00 in 2019 to $521.31 million in 2025, a change of 52,131,200,000.0%.

Mirum Pharmaceuticals' total liabilities were at $528.12 million at the end of 2025, a 18.6% increase from 2024, and a 21,464.8% increase since 2018.

In the past 7 years, Mirum Pharmaceuticals' cash and equivalents has ranged from $11.97 million in 2019 to $296.68 million in 2025, and is currently $296.68 million as of their latest financial filing in 2025.

Over the last 6 years, Mirum Pharmaceuticals' book value per share changed from 5.67 in 2019 to 6.12 in 2025, a change of 8.0%.

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Financial statements for NASDAQ:MIRM last updated on 8/5/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Mirum Pharmaceuticals (MIRM) Financials

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Mirum Pharmaceuticals (MIRM) Financials

Annual Income Statements for Mirum Pharmaceuticals

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Quarterly Cash Flow Statements for Mirum Pharmaceuticals

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Quarterly Balance Sheets for Mirum Pharmaceuticals

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Quarterly Metrics And Ratios for Mirum Pharmaceuticals

Financials Breakdown Chart

Key Financial Trends

Mirum Pharmaceuticals Financials - Frequently Asked Questions

When does Mirum Pharmaceuticals' fiscal year end?

How has Mirum Pharmaceuticals' net income changed over the last 6 years?

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How has Mirum Pharmaceuticals' revenue changed over the last 6 years?

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How has Mirum Pharmaceuticals' book value per share changed over the last 6 years?

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