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MannKind (MNKD) Financials

MannKind logo
$3.38 0.00 (0.00%)
Closing price 05/22/2026 04:00 PM Eastern
Extended Trading
$3.40 +0.02 (+0.53%)
As of 05/22/2026 07:59 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for MannKind

Annual Income Statements for MannKind

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 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		 -368 126 -117 -87 -52 -57 -81 -87 -12 28 5.86
Consolidated Net Income / (Loss)		 -368 126 -117 -87 -52 -57 -81 -87 -12 28 5.86
Net Income / (Loss) Continuing Operations		 -368 126 -117 -87 -52 -57 -81 -87 -12 28 5.86
Total Pre-Tax Income 		-368 126 -117 -87 -52 -57 -81 -87 -10 31 1.41
Total Operating Income		 -345 67 -108 -77 -45 -48 -47 -64 8.68 73 39
Total Gross Profit		 -65 125 -5.48 7.39 35 41 37 42 136 209 261
Total Revenue		 0.00 175 12 28 63 65 75 100 199 286 349
Operating Revenue		 0.00 175 12 28 63 65 75 100 199 286 349
Total Cost of Revenue		 65 50 17 20 28 25 39 57 63 77 88
Operating Cost of Revenue		 65 50 17 20 28 25 39 57 63 77 88
Total Operating Expenses		 280 57 103 84 80 88 84 106 128 136 222
Selling, General & Admin Expense		 41 47 75 80 75 59 77 91 94 94 144
Research & Development Expense		 30 15 14 8.74 6.90 19 12 20 31 46 66
Amortization Expense		 - - - - - - - - 0.00 0.00 3.97
Other Operating Expenses / (Income)		 69 -5.70 13 -4.47 -1.91 8.01 -6.23 -4.81 1.92 -3.91 7.75
Total Other Income / (Expense), net		 -24 58 -9.09 -10 -7.31 -9.55 -34 -23 -19 -42 -37
Interest Expense		 25 -54 15 10 7.38 9.74 34 25 25 58 38
Interest & Investment Income		 0.02 0.09 0.29 0.50 1.00 0.17 0.11 2.51 6.15 13 8.05
Other Income / (Expense), net		 1.37 4.77 5.50 -0.44 -0.93 0.02 -0.24 -1.03 -0.05 3.74 -7.42
Income Tax Expense		 0.00 - 0.05 0.24 0.00 -0.22 0.00 0.00 1.56 2.93 -4.46
Basic Earnings per Share		 ($4.54) $1.37 ($1.13) ($0.60) ($0.27) ($0.26) ($0.32) ($0.34) ($0.04) $0.10 $0.02
Weighted Average Basic Shares Outstanding		 81.23M 92.05M 104.25M 144.14M 195.58M 222.59M 249.24M 257.09M 267.01M 274.42M 305.64M
Diluted Earnings per Share		 ($4.54) $1.36 ($1.13) ($0.60) ($0.27) ($0.26) ($0.32) ($0.34) ($0.04) $0.10 $0.02
Weighted Average Diluted Shares Outstanding		 81.23M 92.09M 104.25M 144.14M 195.58M 222.59M 249.24M 257.09M 267.01M 283.84M 314.11M
Weighted Average Basic & Diluted Shares Outstanding		 406.17M 91.70M 120.47M 144.14M 195.58M 222.59M 249.24M 263.92M 270.42M 303.59M 308.10M

Quarterly Income Statements for MannKind

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Income / (Loss) Attributable to Common Shareholders		 1.72 1.40 11 -2.01 12 7.42 13 0.67 7.99 -16 -17
Consolidated Net Income / (Loss)		 1.72 1.40 11 -2.01 12 7.42 13 0.67 7.99 -16 -17
Net Income / (Loss) Continuing Operations		 1.72 1.40 11 -2.01 12 7.42 13 0.67 7.99 -16 -17
Total Pre-Tax Income 		1.72 2.96 11 -1.69 13 8.45 14 0.94 7.78 -21 -16
Total Operating Income		 5.10 7.86 17 17 13 26 22 5.30 19 -7.69 -1.67
Total Gross Profit		 37 40 48 52 52 57 61 56 62 82 73
Total Revenue		 51 58 66 72 70 77 78 77 82 112 90
Operating Revenue		 51 58 66 72 70 77 78 77 82 112 90
Total Cost of Revenue		 14 18 19 20 18 20 18 21 20 30 17
Operating Cost of Revenue		 14 18 19 20 18 20 18 21 20 30 17
Total Operating Expenses		 32 33 31 35 39 31 39 51 43 90 74
Selling, General & Admin Expense		 24 21 22 24 24 24 25 32 29 58 54
Research & Development Expense		 9.99 9.24 10 12 13 11 11 14 14 28 17
Amortization Expense		 - - - - - - 0.00 - - - 4.37
Other Operating Expenses / (Income)		 -2.07 2.78 -1.40 -0.53 2.45 -4.43 2.51 5.36 -0.12 -0.00 -1.32
Total Other Income / (Expense), net		 -3.38 -4.90 -5.83 -18 0.11 -18 -8.68 -4.36 -11 -13 -15
Interest Expense		 5.27 5.36 9.26 20 8.36 21 11 6.19 7.33 14 13
Interest & Investment Income		 1.58 1.73 3.43 3.18 3.18 2.83 1.96 1.83 2.63 1.64 1.43
Other Income / (Expense), net		 0.32 -1.27 - -1.55 5.29 - 0.00 0.00 -6.41 - -2.78
Income Tax Expense		 0.00 1.56 0.26 0.32 1.32 1.02 0.46 0.27 -0.20 -4.98 0.25
Basic Earnings per Share		 $0.01 $0.01 $0.04 ($0.01) $0.04 $0.03 $0.04 $0.00 $0.03 ($0.05) ($0.05)
Weighted Average Basic Shares Outstanding		 268.73M 267.01M 270.36M 273.06M 275.00M 274.42M 303.48M 304.95M 306.81M 305.64M 308.27M
Diluted Earnings per Share		 $0.01 $0.01 $0.04 ($0.01) $0.04 $0.03 $0.04 $0.00 $0.03 ($0.05) ($0.05)
Weighted Average Diluted Shares Outstanding		 323.77M 267.01M 324.73M 273.06M 284.69M 283.84M 320.90M 311.48M 311.64M 314.11M 308.27M
Weighted Average Basic & Diluted Shares Outstanding		 269.57M 270.42M 272.32M 275.00M 275.78M 303.59M 303.93M 306.83M 307.07M 308.10M 308.95M

Annual Cash Flow Statements for MannKind

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 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		 -96 -36 25 23 -41 37 57 -54 169 -191 29
Net Cash From Operating Activities		 -57 -78 -65 -38 -88 -28 -62 -81 34 43 18
Net Cash From Continuing Operating Activities		 -57 -78 -65 -38 -88 -28 -62 -81 34 43 18
Net Income / (Loss) Continuing Operations		 -368 126 -117 -87 -52 -57 -81 -87 -12 28 5.86
Consolidated Net Income / (Loss)		 -368 126 -117 -87 -52 -57 -81 -87 -12 28 5.86
Depreciation Expense		 13 4.16 3.53 2.86 0.97 2.15 1.99 3.33 4.54 7.37 12
Amortization Expense		 - - - - 1.18 1.18 3.49 5.79 3.39 3.31 2.07
Non-Cash Adjustments To Reconcile Net Income		 260 -28 17 2.77 -32 31 21 13 9.57 36 47
Changes in Operating Assets and Liabilities, net		 38 -180 32 44 -6.42 -5.03 -6.92 -15 29 -31 -49
Net Cash From Investing Activities		 -10 -1.13 17 -0.23 -23 15 -152 4.87 -1.99 -97 -305
Net Cash From Continuing Investing Activities		 -10 -1.13 17 -0.23 -23 15 -152 4.87 -1.99 -97 -305
Purchase of Property, Plant & Equipment		 -10 -1.14 - -0.35 -2.57 -0.80 -11 -7.59 -42 -9.69 -4.57
Acquisitions		 - - - - 0.00 -3.98 0.00 -15 0.00 0.00 -348
Purchase of Investments		 - - - - -45 0.00 -199 -75 -79 -274 0.00
Sale and/or Maturity of Investments		 - - - - 25 20 59 107 119 193 215
Other Investing Activities, net		 - - - - -0.30 0.00 0.00 -5.00 0.38 -6.61 -168
Net Cash From Financing Activities		 -29 43 74 61 70 50 270 21 137 -137 315
Net Cash From Continuing Financing Activities		 5.67 43 74 61 70 50 270 21 138 -137 316
Repayment of Debt		 -65 -5.00 -4.00 -5.00 -57 0.00 -43 0.00 -6.67 -133 -7.27
Repurchase of Common Equity		 -0.55 -2.69 -3.31 -4.23 -0.43 -0.29 -3.12 -0.06 -10 -6.09 -3.26
Issuance of Debt		 0.04 - 19 0.01 120 15 230 - 0.00 0.00 325
Issuance of Common Equity		 33 51 62 71 3.26 23 1.89 20 6.89 0.00 0.00
Other Financing Activities, net		 4.05 -0.17 -0.13 - 4.38 12 85 1.66 148 2.74 1.27
Cash Interest Paid		 13 8.99 18 3.76 1.76 3.56 11 8.85 18 18 15
Cash Income Taxes Paid		 0.00 - 0.05 0.24 - - - 0.00 0.00 4.26 1.71

Quarterly Cash Flow Statements for MannKind

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

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
Net Change in Cash & Equivalents		 -3.17 155 -45 -96 -34 -16 0.98 9.70 70 -53 -22
Net Cash From Operating Activities		 8.66 22 6.70 3.83 9.33 23 -6.38 8.95 24 -7.96 -5.37
Net Cash From Continuing Operating Activities		 8.66 22 6.70 3.83 9.33 23 -6.38 8.95 24 -7.96 -5.37
Net Income / (Loss) Continuing Operations		 1.72 1.40 11 -2.01 12 7.42 13 0.67 7.99 -16 -17
Consolidated Net Income / (Loss)		 1.72 1.40 11 -2.01 12 7.42 13 0.67 7.99 -16 -17
Depreciation Expense		 1.03 1.23 1.36 1.73 2.12 2.16 2.11 2.09 2.06 6.03 6.38
Amortization Expense		 0.95 -0.09 0.83 0.73 0.91 -4.25 0.11 0.64 0.90 -0.13 0.45
Non-Cash Adjustments To Reconcile Net Income		 -0.44 3.63 7.15 11 1.58 21 7.59 17 14 9.31 8.46
Changes in Operating Assets and Liabilities, net		 5.39 16 -13 -7.85 -6.83 -3.32 -29 -12 -0.85 -7.23 -4.04
Net Cash From Investing Activities		 -12 -7.90 -48 -55 -41 48 5.96 6.26 -25 -292 19
Net Cash From Continuing Investing Activities		 -12 -7.90 -48 -55 -41 48 5.96 6.26 -25 -292 19
Purchase of Property, Plant & Equipment		 -11 -5.87 -2.41 -2.97 -1.42 -2.90 -0.33 -1.12 -1.13 -1.99 -1.88
Sale and/or Maturity of Investments		 24 27 22 67 47 58 50 51 42 71 31
Other Investing Activities, net		 0.38 - 0.40 - - -7.01 -44 -44 -66 -14 -10
Net Cash From Financing Activities		 -0.28 142 -3.47 -45 -2.34 -87 1.39 -5.51 72 247 -35
Net Cash From Continuing Financing Activities		 -0.28 142 -3.47 -45 -2.34 -87 1.39 -5.51 72 247 -35
Repayment of Debt		 -1.67 -5.00 -5.00 -40 - -88 0.00 - -2.35 -4.92 -36
Repurchase of Common Equity		 -1.78 0.04 0.27 - -1.51 0.09 1.59 -5.98 -0.74 1.87 0.11
Other Financing Activities, net		 -0.95 147 1.26 0.59 -0.83 0.71 -0.20 0.47 0.54 0.46 -0.01
Cash Interest Paid		 3.72 10 5.93 2.39 5.29 3.89 3.01 2.56 - 9.15 9.75
Cash Income Taxes Paid		 - - 0.00 - 0.24 2.30 0.21 0.87 0.08 0.55 0.06

Annual Balance Sheets for MannKind

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

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 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		 126 107 85 108 94 109 321 295 475 394 792
Total Current Assets		 77 77 57 82 61 79 219 235 373 268 292
Cash & Equivalents		 59 23 44 71 30 67 124 70 238 46 75
Short-Term Investments		 - - - - 20 0.00 80 101 57 151 96
Accounts Receivable		 0.02 31 2.79 4.02 3.51 4.22 4.74 17 15 12 38
Inventories, net		 0.00 2.33 2.66 3.60 4.16 4.97 7.15 22 29 28 35
Prepaid Expenses		 4.02 4.36 3.01 2.56 2.89 3.12 3.48 25 35 31 47
Plant, Property, & Equipment, net		 49 29 27 26 27 26 37 45 84 85 82
Total Noncurrent Assets		 1.01 0.65 0.44 0.25 6.19 3.27 65 15 18 40 418
Long-Term Investments		 - - - - - 0.00 57 1.96 7.16 5.48 5.01
Goodwill		 - - - - - - 0.00 2.43 1.93 1.93 68
Intangible Assets		 - - - - - - 0.00 1.15 1.07 5.27 5.07
Other Noncurrent Operating Assets		 1.01 0.65 0.44 0.25 6.19 3.27 8.44 9.72 7.43 27 341
Total Liabilities & Shareholders' Equity		 126 107 85 108 94 109 321 295 475 394 792
Total Liabilities		 477 291 299 283 284 289 531 546 721 473 843
Total Current Liabilities		 268 92 88 75 66 74 48 67 104 82 171
Short-Term Debt		 75 71 53 11 5.03 4.06 - 0.00 20 0.00 57
Accounts Payable		 16 3.26 6.98 5.38 4.79 5.58 6.96 11 9.58 6.79 9.03
Accrued Expenses		 7.93 7.94 12 15 16 20 27 36 42 40 65
Current Deferred Revenue		 158 4.42 3.29 37 33 33 0.83 1.73 9.09 12 15
Other Current Liabilities		 12 5.09 12 6.66 7.39 11 13 19 23 22 25
Total Noncurrent Liabilities		 208 199 212 208 219 215 482 479 617 391 672
Long-Term Debt		 77 77 104 91 114 118 281 273 249 36 318
Noncurrent Deferred Revenue		 - - - 11 8.34 1.66 20 38 70 51 40
Other Noncurrent Operating Liabilities		 131 121 108 106 96 95 88 73 299 304 314
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		 -350 -184 -215 -175 -191 -180 -209 -251 -246 -79 -51
Total Preferred & Common Equity		 -350 -184 -215 -175 -191 -180 -209 -251 -246 -79 -51
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		 -350 -184 -215 -175 -191 -180 -209 -251 -246 -79 -51
Common Stock		 2,513 2,554 2,640 2,765 2,801 2,869 2,921 2,967 2,983 3,122 3,145
Retained Earnings		 -2,863 -2,738 -2,855 -2,940 -2,992 -3,049 -3,130 -3,217 -3,229 -3,202 -3,196
Accumulated Other Comprehensive Income / (Loss)		 -0.02 -0.02 -0.02 -0.02 -0.02 0.00 - - 0.00 1.11 0.12

Quarterly Balance Sheets for MannKind

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

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2022 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
Total Assets		 294 298 313 320 481 444 464 410 412 495 744
Total Current Assets		 218 223 230 226 383 326 328 274 279 359 251
Cash & Equivalents		 54 86 86 83 193 97 62 47 57 127 53
Short-Term Investments		 111 80 58 58 107 151 189 134 122 133 81
Accounts Receivable		 23 20 28 22 20 23 18 29 27 17 28
Inventories, net		 18 22 25 27 26 25 27 29 28 27 49
Prepaid Expenses		 12 15 33 36 36 30 31 34 44 54 40
Plant, Property, & Equipment, net		 41 55 70 80 84 85 85 84 83 83 83
Total Noncurrent Assets		 34 20 14 14 14 33 51 53 50 53 411
Long-Term Investments		 13 0.49 2.28 3.27 3.73 13 17 17 22 26 0.00
Goodwill		 3.07 2.00 1.93 1.93 1.93 1.93 1.93 1.93 1.93 1.93 68
Intangible Assets		 1.17 1.13 1.11 1.09 1.05 1.03 5.31 5.22 5.17 5.12 5.02
Other Noncurrent Operating Assets		 17 16 8.35 8.05 7.45 16 27 29 20 20 338
Total Liabilities & Shareholders' Equity		 294 298 313 320 481 444 464 410 412 495 744
Total Liabilities		 532 554 574 572 711 670 674 469 467 539 804
Total Current Liabilities		 60 82 97 96 100 80 72 116 112 109 135
Short-Term Debt		 - 12 17 20 20 0.00 0.00 36 36 36 24
Accounts Payable		 9.87 14 17 17 7.15 9.56 6.44 5.04 10 7.27 16
Accrued Expenses		 30 33 37 32 42 41 37 40 31 31 59
Current Deferred Revenue		 1.79 2.32 3.49 3.67 7.60 7.42 6.52 12 11 10 12
Other Current Liabilities		 18 21 23 24 23 22 22 23 24 24 24
Total Noncurrent Liabilities		 472 472 477 476 611 590 602 353 355 430 669
Long-Term Debt		 273 262 258 253 244 228 228 0.00 0.00 73 319
Noncurrent Deferred Revenue		 32 46 60 69 68 66 65 47 45 48 39
Other Noncurrent Operating Liabilities		 72 164 65 59 205 296 309 305 309 308 311
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		 -238 -255 -260 -252 -230 -226 -210 -59 -55 -45 -59
Total Preferred & Common Equity		 -238 -255 -260 -252 -230 -226 -210 -59 -55 -45 -59
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		 -238 -255 -260 -252 -230 -226 -210 -59 -55 -45 -59
Common Stock		 2,963 2,972 2,972 2,979 2,989 2,995 2,999 3,129 3,132 3,135 3,153
Retained Earnings		 -3,200 -3,227 -3,233 -3,231 -3,219 -3,221 -3,209 -3,189 -3,188 -3,180 -3,213
Accumulated Other Comprehensive Income / (Loss)		 -1.21 0.00 0.44 0.44 0.00 0.00 0.59 1.17 1.26 0.14 -0.00

Annual Metrics And Ratios for MannKind

This table displays calculated financial ratios and metrics derived from MannKind's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 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% -93.28% 137.20% 126.28% 3.34% 15.81% 32.25% 99.42% 43.50% 22.23%
EBITDA Growth		 -107.07% 123.09% -230.15% 25.20% 41.53% -2.76% 6.23% -34.09% 127.89% 424.26% -47.44%
EBIT Growth		 -92.92% 120.98% -242.56% 24.98% 40.90% -5.20% 1.31% -37.84% 113.25% 784.45% -58.88%
NOPAT Growth		 -91.87% 127.88% -212.60% 29.20% 41.78% -7.44% 1.86% -36.34% 113.54% 980.20% 146.40%
Net Income Growth		 -85.73% 134.11% -193.37% 25.87% 40.32% -10.28% -41.38% -8.00% 86.34% 331.09% -78.75%
EPS Growth		 -85.73% 134.11% -183.09% 46.90% 55.00% 3.70% -23.08% -6.25% 88.24% 350.00% -80.00%
Operating Cash Flow Growth		 -1,500.69% -36.44% 17.05% 41.75% -134.51% 68.21% -119.39% -30.74% 142.26% 24.69% -57.06%
Free Cash Flow Firm Growth		 1,129.93% -403.13% 79.26% 43.19% -244.01% 44.07% -109.55% -34.95% 371.47% -86.38% -839.57%
Invested Capital Growth		 -1,045.29% 77.49% -83.24% -35.77% 15.56% -2.89% 23.93% 41.96% -405.44% 12.23% 160.44%
Revenue Q/Q Growth		 0.00% 7.64% -40.13% 70.32% -0.06% 3.91% -7.29% 30.89% 12.70% 6.85% 11.21%
EBITDA Q/Q Growth		 -278.07% 142.25% -17.48% 21.36% -6.33% -35.14% 2.21% 16.36% 597.64% 25.56% -42.36%
EBIT Q/Q Growth		 -241.97% 138.60% -16.46% 21.10% -9.53% -31.79% -0.47% 13.71% 174.53% 35.27% -57.00%
NOPAT Q/Q Growth		 -238.24% 149.59% -18.65% 21.61% -8.85% -34.90% -0.47% 14.85% 172.50% 41.19% 133.28%
Net Income Q/Q Growth		 -188.15% 161.20% -283.78% 20.94% -9.53% -26.94% -2.08% 10.37% 61.84% 27.92% -79.94%
EPS Q/Q Growth		 -188.15% 161.20% -289.66% 16.67% -12.50% -23.81% 3.03% 10.53% 66.67% 25.00% -80.00%
Operating Cash Flow Q/Q Growth		 18.73% 11.15% -36.23% 59.30% -51.54% 15.96% -25.61% 11.00% 239.58% 2.33% -62.64%
Free Cash Flow Firm Q/Q Growth		 176.65% -745.32% 67.37% 75.35% -130.25% -25.82% 3.22% 5.49% 926.77% -88.29% -676.62%
Invested Capital Q/Q Growth		 -4,052.22% 54.04% -0.40% -30.06% -4.75% -6.85% -12.09% -15.42% -883.07% 1.88% 167.10%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 0.00% 71.34% -46.68% 26.53% 55.62% 62.17% 48.49% 42.37% 68.45% 73.17% 74.79%
EBITDA Margin		 0.00% 43.60% -844.27% -266.25% -68.80% -68.41% -55.39% -56.16% 7.85% 28.69% 13.11%
Operating Margin		 0.00% 38.49% -921.15% -274.94% -70.75% -73.55% -62.33% -64.26% 4.36% 25.42% 11.12%
EBIT Margin		 0.00% 41.22% -874.31% -276.51% -72.22% -73.51% -62.65% -65.29% 4.34% 26.73% 8.99%
Profit (Net Income) Margin		 0.00% 71.91% -999.00% -312.20% -82.34% -87.87% -107.27% -87.60% -6.00% 9.66% 1.68%
Tax Burden Percent		 100.00% 100.00% 100.04% 100.28% 100.00% 99.62% 100.00% 100.00% 115.04% 90.40% 416.70%
Interest Burden Percent		 107.33% 174.46% 114.21% 112.60% 114.01% 119.98% 171.23% 134.16% -120.24% 39.98% 4.48%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 9.60% -316.70%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 173.75% -47.07% 58.91% 44.62% 28.39% 30.86% 41.53% 38.01% 4.81% -16.98% -9.03%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -156.48%
Operating Return on Assets (OROA)		 0.00% 61.70% -107.17% -80.12% -45.20% -47.34% -21.99% -21.14% 2.24% 17.57% 5.29%
Return on Assets (ROA)		 0.00% 107.65% -122.45% -90.47% -51.53% -56.58% -37.66% -28.36% -3.10% 6.35% 0.99%
Return on Common Equity (ROCE)		 173.75% -47.07% 58.91% 44.62% 28.39% 30.86% 41.53% 38.01% 4.81% -16.98% -9.03%
Return on Equity Simple (ROE_SIMPLE)		 105.17% -68.45% 54.64% 49.68% 27.24% 31.73% 38.66% 34.88% 4.85% -35.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -241 67 -76 -54 -31 -34 -33 -45 6.07 66 162
NOPAT Margin		 0.00% 38.49% -644.80% -192.46% -49.52% -51.48% -43.63% -44.98% 3.05% 22.98% 46.33%
Net Nonoperating Expense Percent (NNEP)		 131.34% -53.52% 35.55% 47.91% 41.58% 38.30% 56.80% 27.51% 22.29% -37.98% 952.22%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - -38.20% 26.96% -153.44% 49.79%
Cost of Revenue to Revenue		 0.00% 28.66% 146.68% 73.47% 44.38% 37.83% 51.51% 57.63% 31.55% 26.83% 25.21%
SG&A Expenses to Revenue		 0.00% 26.85% 638.22% 286.14% 118.45% 90.63% 102.62% 91.68% 47.40% 33.04% 41.30%
R&D to Revenue		 0.00% 8.54% 120.20% 31.36% 10.95% 29.90% 16.32% 19.77% 15.72% 16.07% 19.01%
Operating Expenses to Revenue		 0.00% 32.85% 874.47% 301.46% 126.36% 135.72% 110.82% 106.63% 64.09% 47.75% 63.68%
Earnings before Interest and Taxes (EBIT)		 -343 72 -103 -77 -46 -48 -47 -65 8.63 76 31
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -330 76 -99 -74 -43 -45 -42 -56 16 82 46
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 1.74 23.14 6.07 4.22 11.18 14.55 13.90 4.93 6.21 4.99
Price to Earnings (P/E)		 0.00 2.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 64.28 296.96
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% 41.26% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 1.56% 0.34%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.08
Enterprise Value to Revenue (EV/Rev)		 0.00 2.46 32.38 7.18 5.31 12.02 16.07 15.86 4.76 5.63 5.56
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 5.65 0.00 0.00 0.00 0.00 0.00 0.00 60.65 19.61 42.43
Enterprise Value to EBIT (EV/EBIT)		 0.00 5.97 0.00 0.00 0.00 0.00 0.00 0.00 109.81 21.05 61.83
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 6.40 0.00 0.00 0.00 0.00 0.00 0.00 156.01 24.48 12.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 27.80 37.79 106.30
Enterprise Value to Free Cash Flow (EV/FCFF)		 15.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4.11 51.17 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -0.43 -0.81 -0.73 -0.59 -0.62 -0.68 -1.79 -1.47 -1.09 -0.46 -7.36
Long-Term Debt to Equity		 -0.22 -0.42 -0.48 -0.52 -0.60 -0.66 -1.79 -1.47 -1.01 -0.46 -6.24
Financial Leverage		 -0.46 -0.41 -0.59 -0.36 -0.27 -0.33 -0.43 -0.67 -0.33 0.62 -0.25
Leverage Ratio		 -1.23 -0.44 -0.48 -0.49 -0.55 -0.55 -1.10 -1.34 -1.55 -2.67 -9.13
Compound Leverage Factor		 -1.32 -0.76 -0.55 -0.56 -0.63 -0.65 -1.89 -1.80 1.87 -1.07 -0.41
Debt to Total Capital		 -76.39% -423.09% -270.80% -141.17% -166.00% -210.08% 226.59% 313.29% 1,192.57% -84.30% 115.71%
Short-Term Debt to Total Capital		 -37.55% -203.26% -91.08% -15.56% -7.02% -6.98% 0.00% 0.00% 88.77% 0.00% 17.68%
Long-Term Debt to Total Capital		 -38.84% -219.83% -179.72% -125.61% -158.98% -203.10% 226.59% 313.29% 1,103.81% -84.30% 98.03%
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		 176.39% 523.09% 370.80% 241.17% 266.00% 310.08% -126.59% -213.29% -1,092.57% 184.30% -15.71%
Debt to EBITDA		 -0.46 1.95 -1.58 -1.38 -2.74 -2.74 -8.97 -6.57 17.20 0.44 8.22
Net Debt to EBITDA		 -0.28 1.65 -1.09 -0.42 -1.58 -1.24 -2.73 -3.48 -2.15 -2.03 4.36
Long-Term Debt to EBITDA		 -0.23 1.01 -1.05 -1.23 -2.63 -2.65 -8.97 -6.57 15.92 0.44 6.96
Debt to NOPAT		 -0.63 2.21 -2.07 -1.91 -3.81 -3.64 -11.38 -8.20 44.23 0.55 2.32
Net Debt to NOPAT		 -0.38 1.87 -1.43 -0.57 -2.20 -1.64 -3.46 -4.35 -5.52 -2.54 1.23
Long-Term Debt to NOPAT		 -0.32 1.15 -1.37 -1.70 -3.65 -3.52 -11.38 -8.20 40.94 0.55 1.97
Altman Z-Score		 -41.74 -31.48 -51.01 -39.88 -45.12 -38.58 -12.01 -13.44 -7.54 -7.20 -3.66
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		 0.29 0.84 0.65 1.09 0.93 1.08 4.54 3.49 3.59 3.28 1.70
Quick Ratio		 0.22 0.58 0.53 1.00 0.81 0.97 4.32 2.79 2.98 2.55 1.23
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 44 -132 -27 -16 -54 -30 -63 -85 230 31 -232
Operating Cash Flow to CapEx		 -560.93% -6,929.02% 0.00% -16,124.36% -3,449.63% -3,511.61% -538.19% -1,063.10% 80.33% 438.57% 399.80%
Free Cash Flow to Firm to Interest Expense		 1.74 0.00 -1.84 -1.53 -7.28 -3.08 -1.86 -3.43 9.16 0.54 -6.11
Operating Cash Flow to Interest Expense		 -2.27 0.00 -4.35 -3.70 -11.99 -2.89 -1.83 -3.26 1.36 0.73 0.48
Operating Cash Flow Less CapEx to Interest Expense		 -2.68 0.00 -3.23 -3.72 -12.34 -2.97 -2.17 -3.56 -0.33 0.56 0.36
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.00 1.50 0.12 0.29 0.63 0.64 0.35 0.32 0.52 0.66 0.59
Accounts Receivable Turnover		 0.00 11.32 0.70 8.19 16.74 16.85 16.85 9.26 12.55 21.38 13.91
Inventory Turnover		 0.00 0.00 6.91 6.55 7.22 5.40 6.41 3.98 2.50 2.71 2.78
Fixed Asset Turnover		 0.00 4.50 0.42 1.06 2.41 2.47 2.42 2.44 3.08 3.37 4.16
Accounts Payable Turnover		 5.63 5.31 3.36 3.31 5.50 4.75 6.20 6.39 6.08 9.36 11.12
Days Sales Outstanding (DSO)		 0.00 32.25 522.84 44.59 21.80 21.66 21.67 39.40 29.08 17.07 26.24
Days Inventory Outstanding (DIO)		 0.00 0.00 52.84 55.76 50.56 67.61 56.95 91.81 146.29 134.44 131.13
Days Payable Outstanding (DPO)		 64.81 68.72 108.55 110.23 66.32 76.81 58.89 57.16 59.99 39.01 32.84
Cash Conversion Cycle (CCC)		 0.00 -36.47 467.13 -9.88 6.04 12.45 19.73 74.05 115.39 112.51 124.53
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -258 -58 -106 -144 -122 -125 -95 -55 -280 -246 148
Invested Capital Turnover		 0.00 -1.11 -0.14 -0.22 -0.47 -0.53 -0.68 -1.32 -1.19 -1.09 -7.19
Increase / (Decrease) in Invested Capital		 -285 200 -48 -38 22 -3.52 30 40 -224 34 394
Enterprise Value (EV)		 686 430 380 200 335 783 1,212 1,582 948 1,607 1,941
Market Capitalization		 594 305 272 169 266 728 1,098 1,387 981 1,773 1,741
Book Value per Share		 ($0.86) ($0.38) ($1.83) ($1.10) ($0.92) ($0.78) ($0.83) ($0.95) ($0.91) ($0.29) ($0.17)
Tangible Book Value per Share		 ($0.86) ($0.38) ($1.83) ($1.10) ($0.92) ($0.78) ($0.83) ($0.97) ($0.92) ($0.31) ($0.40)
Total Capital		 -199 -35 -58 -73 -72 -58 165 117 23 -43 325
Total Debt		 152 148 157 102 119 122 375 368 269 36 376
Total Long-Term Debt		 77 77 104 91 114 118 375 368 249 36 318
Net Debt		 93 126 108 31 69 55 114 195 -34 -167 199
Capital Expenditures (CapEx)		 10 1.13 -17 0.23 2.57 0.80 11 7.59 42 9.69 4.57
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -176 34 -26 -54 -50 -57 -33 -3.25 -5.83 -11 6.61
Debt-free Net Working Capital (DFNWC)		 -117 57 22 18 0.17 9.83 171 168 289 186 178
Net Working Capital (NWC)		 -192 -15 -30 6.61 -4.86 5.77 171 168 269 186 121
Net Nonoperating Expense (NNE)		 127 -58 42 33 21 24 48 43 18 38 156
Net Nonoperating Obligations (NNO)		 93 126 108 31 69 55 114 195 -34 -167 199
Total Depreciation and Amortization (D&A)		 13 4.16 3.53 2.86 2.15 3.33 5.47 9.11 7.00 5.59 14
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% 19.39% -221.29% -193.02% -79.37% -88.01% -43.71% -3.25% -2.93% -3.78% 1.90%
Debt-free Net Working Capital to Revenue		 0.00% 32.49% 190.41% 64.29% 0.26% 15.09% 226.85% 167.99% 145.39% 65.31% 51.00%
Net Working Capital to Revenue		 0.00% -8.33% -258.67% 23.74% -7.71% 8.86% 226.85% 167.99% 135.34% 65.31% 34.54%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($4.55) $1.37 ($1.13) ($0.60) ($0.27) ($0.26) ($0.32) ($0.34) ($0.04) $0.10 $0.02
Adjusted Weighted Average Basic Shares Outstanding		 85.77M 92.05M 104.25M 144.14M 212.30M 247.16M 251.80M 257.09M 267.01M 274.42M 305.64M
Adjusted Diluted Earnings per Share		 ($4.55) $1.36 ($1.13) ($0.60) ($0.27) ($0.26) ($0.32) ($0.34) ($0.04) $0.10 $0.02
Adjusted Weighted Average Diluted Shares Outstanding		 85.77M 92.09M 104.25M 144.14M 212.30M 247.16M 251.80M 257.09M 267.01M 283.84M 314.11M
Adjusted Basic & Diluted Earnings per Share		 ($4.55) $0.00 $0.00 $0.00 ($0.27) ($0.26) ($0.32) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 81.23M 95.78M 120.47M 187.34M 195.58M 222.59M 249.24M 263.92M 270.42M 303.59M 308.10M
Normalized Net Operating Profit after Tax (NOPAT)		 -143 48 -76 -54 -31 -32 -33 -45 6.07 66 27
Normalized NOPAT Margin		 0.00% 27.45% -643.59% -192.46% -49.52% -49.45% -43.53% -44.98% 3.05% 22.98% 7.78%
Pre Tax Income Margin		 0.00% 71.91% -998.57% -311.34% -82.34% -88.20% -107.27% -87.60% -5.22% 10.69% 0.40%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -13.64 0.00 -6.90 -7.55 -6.17 -4.92 -1.40 -2.63 0.34 1.31 0.83
NOPAT to Interest Expense		 -9.58 0.00 -5.09 -5.25 -4.23 -3.45 -0.97 -1.81 0.24 1.12 4.25
EBIT Less CapEx to Interest Expense		 -14.04 0.00 -5.78 -7.57 -6.52 -5.00 -1.74 -2.94 -1.34 1.14 0.71
NOPAT Less CapEx to Interest Expense		 -9.99 0.00 -3.97 -5.28 -4.58 -3.53 -1.31 -2.12 -1.45 0.96 4.13
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		 -0.15% 2.14% -2.82% -4.87% -0.83% -0.50% -3.86% -0.07% -86.03% 22.06% 55.64%

Quarterly Metrics And Ratios for MannKind

This table displays calculated financial ratios and metrics derived from MannKind's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 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
DEI Shares Outstanding		 - - - - - - - - - - 308,100,433.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 308,100,433.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - -0.05
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 56.14% 62.16% 63.10% 48.91% 36.73% 31.30% 18.25% 5.72% 17.20% 45.82% 15.08%
EBITDA Growth		 193.85% 170.04% 570.21% 287.81% 184.90% 215.71% 32.47% -54.20% -26.73% -106.04% -90.25%
EBIT Growth		 155.16% 148.41% 384.05% 500.00% 233.35% 301.93% 33.32% -64.81% -30.82% -129.01% -119.93%
NOPAT Growth		 175.77% 141.51% 488.62% 865.14% 124.67% 526.50% 32.02% -67.61% 69.34% -123.11% -105.42%
Net Income Growth		 111.92% 107.81% 208.52% 61.75% 571.12% 429.76% 23.78% 133.17% -30.87% -314.87% -226.30%
EPS Growth		 116.67% 114.29% 200.00% 50.00% 300.00% 200.00% 0.00% 100.00% -25.00% -266.67% -225.00%
Operating Cash Flow Growth		 130.86% 1,012.37% 479.84% 47.65% 7.70% 4.46% -195.14% 133.50% 153.35% -135.14% 15.87%
Free Cash Flow Firm Growth		 67.16% 565.82% -17.86% 951.07% 1,719.64% -104.79% 49.38% -115.19% -104.14% -3,551.53% -661.07%
Invested Capital Growth		 40.66% -405.44% -18.91% -576.88% -779.31% 12.23% -25.37% 15.08% 11.61% 160.44% 167.75%
Revenue Q/Q Growth		 5.44% 14.09% 13.32% 9.24% -3.19% 9.56% 2.06% -2.33% 7.32% 36.31% -19.46%
EBITDA Q/Q Growth		 63.73% 4.47% 144.66% -7.33% 20.29% 15.77% 2.66% -67.96% 92.45% -111.54% 234.12%
EBIT Q/Q Growth		 115.74% 21.74% 153.67% -9.94% 19.86% 46.78% -15.86% -76.23% 135.65% -161.56% 42.19%
NOPAT Q/Q Growth		 323.09% -27.08% 339.00% -28.74% -1.51% 103.34% -7.49% -82.52% 414.95% -127.75% 78.31%
Net Income Q/Q Growth		 132.69% -18.59% 658.74% -118.95% 673.49% -35.74% 77.28% -94.92% 1,095.36% -299.72% -4.21%
EPS Q/Q Growth		 150.00% 0.00% 300.00% -125.00% 500.00% -25.00% 33.33% -100.00% 0.00% -266.67% 0.00%
Operating Cash Flow Q/Q Growth		 233.74% 150.21% -69.08% -42.82% 143.44% 142.68% -128.16% 240.35% 164.13% -133.66% 32.58%
Free Cash Flow Firm Q/Q Growth		 47.30% 1,684.23% -80.57% 424.65% 0.29% -104.69% 705.45% -153.34% 72.68% -4,039.48% 6.97%
Invested Capital Q/Q Growth		 25.69% -883.07% 37.06% -47.20% 3.46% 1.88% 10.09% 0.29% -0.48% 167.10% 0.78%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 72.19% 69.10% 71.93% 71.85% 74.28% 74.47% 77.65% 73.12% 75.40% 73.50% 80.62%
EBITDA Margin		 14.44% 13.22% 28.54% 24.21% 30.08% 31.79% 31.97% 10.49% 18.81% -1.59% 2.65%
Operating Margin		 9.94% 13.44% 25.24% 22.95% 18.21% 34.51% 28.45% 6.92% 23.01% -6.87% -1.85%
EBIT Margin		 10.57% 11.27% 25.24% 20.81% 25.76% 34.51% 28.45% 6.92% 15.20% -6.87% -4.93%
Profit (Net Income) Margin		 3.36% 2.40% 16.04% -2.78% 16.48% 9.67% 16.79% 0.87% 9.72% -14.25% -18.43%
Tax Burden Percent		 100.00% 47.30% 97.58% 119.10% 89.74% 87.89% 96.63% 71.06% 102.62% 76.19% 101.55%
Interest Burden Percent		 31.78% 44.93% 65.15% -11.23% 71.30% 31.87% 61.08% 17.74% 62.31% 272.29% 368.27%
Effective Tax Rate		 0.00% 52.70% 2.42% 0.00% 10.26% 12.11% 3.37% 28.94% -2.62% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 12.78% 4.81% -3.50% -4.83% -9.34% -16.98% -20.87% -23.36% -22.97% -9.03% 40.60%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -156.48% -240.66%
Operating Return on Assets (OROA)		 6.07% 5.82% 14.55% 13.65% 17.55% 22.67% 19.01% 4.88% 9.95% -4.04% -3.08%
Return on Assets (ROA)		 1.93% 1.24% 9.25% -1.83% 11.23% 6.35% 11.22% 0.62% 6.36% -8.38% -11.52%
Return on Common Equity (ROCE)		 12.78% 4.81% -3.50% -4.83% -9.34% -16.98% -20.87% -23.36% -22.97% -9.03% 40.60%
Return on Equity Simple (ROE_SIMPLE)		 12.43% 0.00% -3.69% -5.20% -10.27% 0.00% -51.38% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 5.10 3.72 16 12 11 23 22 3.77 19 -5.38 -1.17
NOPAT Margin		 9.94% 6.36% 24.62% 16.06% 16.34% 30.33% 27.49% 4.92% 23.61% -4.81% -1.29%
Net Nonoperating Expense Percent (NNEP)		 1.63% 2.87% 7.05% 14.45% -0.11% -15.84% -15.49% -3.12% -10.52% 64.58% 66.28%
Return On Investment Capital (ROIC_SIMPLE)		 - 16.50% - - - -54.45% -95.70% -19.95% 29.79% -1.66% -0.41%
Cost of Revenue to Revenue		 27.81% 30.90% 28.07% 28.15% 25.72% 25.53% 22.36% 26.88% 24.60% 26.50% 19.38%
SG&A Expenses to Revenue		 46.78% 35.12% 33.70% 33.31% 34.13% 31.22% 31.92% 41.32% 35.42% 52.17% 59.98%
R&D to Revenue		 19.49% 15.80% 15.11% 16.32% 18.44% 14.51% 14.07% 17.87% 17.12% 24.64% 19.11%
Operating Expenses to Revenue		 62.24% 55.66% 46.70% 48.90% 56.07% 39.96% 49.19% 66.20% 52.39% 80.36% 82.47%
Earnings before Interest and Taxes (EBIT)		 5.42 6.59 17 15 18 26 22 5.30 12 -7.69 -4.44
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 7.40 7.73 19 18 21 24 25 8.03 15 -1.78 2.39
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 6.28 4.93 5.44 5.72 6.47 6.21 5.13 3.77 5.25 4.99 2.09
Price to Earnings (P/E)		 0.00 0.00 143.89 121.10 80.20 64.28 50.71 34.66 56.36 296.96 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% 0.70% 0.83% 1.25% 1.56% 1.97% 2.89% 1.77% 0.34% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.08 6.44
Enterprise Value to Revenue (EV/Rev)		 7.54 4.76 5.68 5.59 6.32 5.63 4.59 3.22 4.69 5.56 2.67
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 60.65 33.07 26.92 25.89 19.61 16.19 13.26 18.54 42.43 40.80
Enterprise Value to EBIT (EV/EBIT)		 0.00 109.81 40.82 31.70 29.94 21.05 17.46 14.54 20.16 61.83 207.40
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 156.01 49.34 35.48 36.35 24.48 19.28 15.90 21.22 12.00 92.75
Enterprise Value to Operating Cash Flow (EV/OCF)		 132.63 27.80 32.17 33.96 40.67 37.79 46.38 28.12 30.11 106.30 50.01
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 4.11 23.68 5.34 6.30 51.17 11.82 44.08 36.53 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 -1.46 -1.09 -1.56 -1.01 -1.09 -0.46 -0.62 -0.66 -2.46 -7.36 -5.79
Long-Term Debt to Equity		 -1.38 -1.01 -1.47 -1.01 -1.09 -0.46 0.00 0.00 -1.65 -6.24 -5.38
Financial Leverage		 -0.84 -0.33 -0.33 -0.39 -0.40 0.62 0.38 0.71 0.85 -0.25 -0.40
Leverage Ratio		 -1.25 -1.55 -1.61 -1.56 -1.70 -2.67 -3.09 -3.05 -3.77 -9.13 -9.80
Compound Leverage Factor		 -0.40 -0.70 -1.05 0.17 -1.21 -0.85 -1.89 -0.54 -2.35 -24.87 -36.09
Debt to Total Capital		 317.36% 1,192.57% 279.13% 11,497.27% 1,254.33% -84.30% -160.42% -191.60% 168.44% 115.71% 120.89%
Short-Term Debt to Total Capital		 17.27% 88.77% 15.58% 0.00% 0.00% 0.00% -160.42% -191.60% 55.64% 17.68% 8.43%
Long-Term Debt to Total Capital		 300.10% 1,103.81% 263.55% 11,497.27% 1,254.33% -84.30% 0.00% 0.00% 112.79% 98.03% 112.46%
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		 -217.36% -1,092.57% -179.13% -11,397.27% -1,154.33% 184.30% 260.42% 291.60% -68.44% -15.71% -20.89%
Debt to EBITDA		 -117.07 17.20 9.29 4.42 3.50 0.44 0.43 0.49 1.38 8.22 14.51
Net Debt to EBITDA		 -71.12 -2.15 1.40 -0.65 -0.62 -2.03 -1.92 -2.25 -2.23 4.36 8.84
Long-Term Debt to EBITDA		 -110.70 15.92 8.77 4.42 3.50 0.44 0.00 0.00 0.93 6.96 13.50
Debt to NOPAT		 -43.87 44.23 13.87 5.82 4.91 0.55 0.51 0.59 1.58 2.32 32.98
Net Debt to NOPAT		 -26.65 -5.52 2.09 -0.85 -0.87 -2.54 -2.29 -2.70 -2.55 1.23 20.09
Long-Term Debt to NOPAT		 -41.49 40.94 13.09 5.82 4.91 0.55 0.00 0.00 1.06 1.97 30.68
Altman Z-Score		 -11.87 -7.55 -7.05 -7.55 -6.77 -7.62 -7.56 -8.12 -5.84 -3.82 -4.83
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		 2.34 3.59 3.84 4.07 4.54 3.28 2.36 2.50 3.29 1.70 1.87
Quick Ratio		 1.69 2.98 3.21 3.39 3.74 2.55 1.82 1.84 2.54 1.23 1.20
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -14 228 44 233 233 -11 66 -35 -9.65 -399 -371
Operating Cash Flow to CapEx		 76.09% 369.05% 278.36% 128.97% 658.50% 781.91% -1,932.42% 801.25% 2,101.33% -399.10% -285.37%
Free Cash Flow to Firm to Interest Expense		 -2.73 42.60 4.78 11.67 27.89 -0.52 6.23 -5.70 -1.32 -28.78 -27.82
Operating Cash Flow to Interest Expense		 1.64 4.05 0.72 0.19 1.12 1.08 -0.60 1.45 3.22 -0.57 -0.40
Operating Cash Flow Less CapEx to Interest Expense		 -0.52 2.95 0.46 0.04 0.95 0.95 -0.63 1.27 3.07 -0.72 -0.54
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.57 0.52 0.58 0.66 0.68 0.66 0.67 0.71 0.65 0.59 0.63
Accounts Receivable Turnover		 7.79 12.55 11.34 9.71 13.36 21.38 12.19 11.95 17.64 13.91 12.65
Inventory Turnover		 2.68 2.50 2.69 2.85 2.79 2.71 2.73 2.84 2.90 2.78 2.25
Fixed Asset Turnover		 2.90 3.08 3.24 3.21 3.22 3.37 3.56 3.59 3.74 4.16 4.34
Accounts Payable Turnover		 4.57 6.08 6.19 5.34 6.47 9.36 12.39 7.64 11.36 11.12 8.30
Days Sales Outstanding (DSO)		 46.84 29.08 32.20 37.57 27.32 17.07 29.93 30.54 20.69 26.24 28.85
Days Inventory Outstanding (DIO)		 136.18 146.29 135.68 128.10 130.75 134.44 133.72 128.34 125.67 131.13 162.03
Days Payable Outstanding (DPO)		 79.88 59.99 58.93 68.30 56.40 39.01 29.46 47.76 32.13 32.84 43.98
Cash Conversion Cycle (CCC)		 103.14 115.39 108.95 97.37 101.68 112.51 134.19 111.12 114.22 124.53 146.91
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -28 -280 -176 -259 -250 -246 -221 -220 -221 148 150
Invested Capital Turnover		 -4.62 -1.19 -1.39 -1.67 -1.92 -1.09 -1.50 -1.26 -1.33 -7.19 -10.14
Increase / (Decrease) in Invested Capital		 19 -224 -28 -221 -222 34 -45 39 29 394 370
Enterprise Value (EV)		 1,332 948 1,275 1,388 1,689 1,607 1,365 972 1,471 1,941 964
Market Capitalization		 1,108 981 1,221 1,421 1,730 1,773 1,527 1,137 1,648 1,741 755
Book Value per Share		 ($0.94) ($0.91) ($0.85) ($0.83) ($0.76) ($0.29) ($0.19) ($0.18) ($0.15) ($0.17) ($0.19)
Tangible Book Value per Share		 ($0.95) ($0.92) ($0.86) ($0.84) ($0.79) ($0.31) ($0.22) ($0.20) ($0.17) ($0.40) ($0.43)
Total Capital		 116 23 128 1.98 18 -43 -23 -19 65 325 283
Total Debt		 368 269 358 228 228 36 36 36 110 376 343
Total Long-Term Debt		 348 249 338 228 228 36 0.00 0.00 73 318 319
Net Debt		 223 -34 54 -33 -40 -167 -162 -165 -177 199 209
Capital Expenditures (CapEx)		 11 5.87 2.41 2.97 1.42 2.90 0.33 1.12 1.13 1.99 1.88
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 8.19 -5.83 2.48 -1.83 3.98 -11 12 24 26 6.61 6.62
Debt-free Net Working Capital (DFNWC)		 149 289 303 246 256 186 194 203 286 178 140
Net Working Capital (NWC)		 129 269 283 246 256 186 158 167 250 121 117
Net Nonoperating Expense (NNE)		 3.38 2.32 5.69 14 -0.10 16 8.38 3.10 11 11 15
Net Nonoperating Obligations (NNO)		 223 -34 54 -33 -40 -167 -162 -165 -177 199 209
Total Depreciation and Amortization (D&A)		 1.98 1.14 2.19 2.47 3.03 -2.09 2.76 2.73 2.96 5.91 6.83
Debt-free, Cash-free Net Working Capital to Revenue		 4.64% -2.93% 1.10% -0.74% 1.49% -3.78% 4.16% 8.08% 8.25% 1.90% 1.83%
Debt-free Net Working Capital to Revenue		 84.51% 145.39% 135.00% 99.02% 95.64% 65.31% 65.16% 67.40% 91.12% 51.00% 38.94%
Net Working Capital to Revenue		 73.18% 135.34% 126.09% 99.02% 95.64% 65.31% 53.03% 55.41% 79.58% 34.54% 32.32%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.01 $0.01 $0.04 ($0.01) $0.04 $0.03 $0.04 $0.00 $0.03 ($0.05) ($0.05)
Adjusted Weighted Average Basic Shares Outstanding		 268.73M 267.01M 270.36M 273.06M 275.00M 274.42M 303.48M 304.95M 306.81M 305.64M 308.27M
Adjusted Diluted Earnings per Share		 $0.01 $0.01 $0.04 ($0.01) $0.04 $0.03 $0.04 $0.00 $0.03 ($0.05) ($0.05)
Adjusted Weighted Average Diluted Shares Outstanding		 323.77M 267.01M 324.73M 273.06M 284.69M 283.84M 320.90M 311.48M 311.64M 314.11M 308.27M
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		 269.57M 270.42M 272.32M 275.00M 275.78M 303.59M 303.93M 306.83M 307.07M 308.10M 308.95M
Normalized Net Operating Profit after Tax (NOPAT)		 3.57 5.50 16 12 11 23 22 3.77 13 -5.38 -1.17
Normalized NOPAT Margin		 6.96% 9.41% 24.62% 16.06% 16.34% 30.33% 27.49% 4.92% 16.11% -4.81% -1.29%
Pre Tax Income Margin		 3.36% 5.07% 16.44% -2.34% 18.37% 11.00% 17.38% 1.23% 9.47% -18.70% -18.15%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 1.03 1.23 1.81 0.76 2.16 1.27 2.10 0.86 1.70 -0.55 -0.33
NOPAT to Interest Expense		 0.97 0.69 1.76 0.58 1.37 1.12 2.03 0.61 2.64 -0.39 -0.09
EBIT Less CapEx to Interest Expense		 -1.13 0.13 1.55 0.61 1.99 1.13 2.07 0.68 1.55 -0.70 -0.47
NOPAT Less CapEx to Interest Expense		 -1.19 -0.40 1.50 0.43 1.20 0.98 2.00 0.43 2.49 -0.53 -0.23
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		 -30.52% -86.03% 0.00% -32.02% -18.65% 22.06% 15.82% 17.72% 17.26% 55.64% -19.85%

Financials Breakdown Chart

Key Financial Trends

Here is a concise, data-driven read on MannKind (MNKD) using the last four years of quarterly statements provided. The story shows a mix of top-line growth in 2025, solid gross margins, episodic profitability, and ongoing balance-sheet and cash-flow challenges. Below are the 10 most relevant takeaways, categorized for quick scanning.

  • Q4 2025 quarterly revenue jumped to 111,955,000, marking a sharp step up from prior 2024–2025 quarters and signaling a notable top-line acceleration.
  • Gross margins remained robust in the latest periods (Gross Profit ≈ 82,282,000 on 111,955,000 revenue in Q4 2025), indicating strong cost of revenue discipline despite revenue volatility.
  • Notable profitability in select quarters, including Q3 2025 net income attributable to common shareholders of about 7.99 million, and several prior quarters posting positive net income, showing episodic profitability despite an overall loss trend.
  • Q4 2025 debt issuance of 250 million produced a large net financing infusion (about 247.4 million), providing a substantial liquidity runway for near-term operations and investments.
  • Mid-2025 operating cash flow improved, with net cash from continuing operating activities around 23.6 million in Q3 2025, before variability re-emerged in Q4 2025.
  • Liquidity cushion remained visible through 2025, with cash and equivalents totaling about 127.4 million on the balance sheet in Q3 2025, supporting short-term liquidity even as other periods were weaker.
  • Revenue volatility remains evident, with 2025 showing a step-up in Q4 while earlier 2025 quarters were more modest, suggesting uneven quarterly demand or execution timing rather than a steady ramp.
  • Net income has been negative in many quarters; the most recent quarterly result (Q4 2025) shows net income attributable to common shareholders of -15.95 million, underscoring ongoing profitability headwinds.
  • Balance-sheet weakness persists: by Q3 2025, total liabilities (~539.2 million) exceeded total assets (~494.6 million), yielding a negative equity position (~-44.6 million) and signaling a continued capital structure risk.
  • Investing cash outflows remain material, with Q4 2025 net cash from investing activities around -291.96 million, indicating substantial use of cash for investments even as financing provided liquidity, which could strain liquidity if financing slows.
05/25/26 08:22 PM ETAI Generated. May Contain Errors.

MannKind Financials - Frequently Asked Questions

According to the most recent income statement we have on file, MannKind's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

MannKind's net income appears to be on a downward trend, with a most recent value of $5.86 million in 2025, falling from -$368.45 million in 2015. The previous period was $27.59 million in 2024. View MannKind's forecast to see where analysts expect MannKind to go next.

MannKind's total operating income in 2025 was $38.80 million, based on the following breakdown:
  • Total Gross Profit: $261.01 million
  • Total Operating Expenses: $222.21 million

Over the last 10 years, MannKind's total revenue changed from $0.00 in 2015 to $348.97 million in 2025, a change of 34,896,600,000.0%.

MannKind's total liabilities were at $843.20 million at the end of 2025, a 78.4% increase from 2024, and a 76.9% increase since 2015.

In the past 10 years, MannKind's cash and equivalents has ranged from $22.90 million in 2016 to $238.48 million in 2023, and is currently $74.88 million as of their latest financial filing in 2025.

Over the last 10 years, MannKind's book value per share changed from -0.86 in 2015 to -0.17 in 2025, a change of -80.6%.


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Financial statements for NASDAQ:MNKD last updated on 5/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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