Neurocrine Biosciences (NBIX) Financials

$156.70 0.00 (0.00%)

Closing price 05/22/2026 04:00 PM Eastern

Extended Trading

$158.00 +1.30 (+0.83%)

As of 05/22/2026 06:57 PM Eastern

Annual Income Statements for Neurocrine Biosciences

This table shows Neurocrine Biosciences' 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	-89	-141	-143	21	37	407	90	155	250	341	479
Consolidated Net Income / (Loss)	-89	-141	-143	21	37	407	90	155	250	341	479
Net Income / (Loss) Continuing Operations	-89	-141	-143	21	37	407	90	155	250	341	479
Total Pre-Tax Income	-89	-141	-143	22	47	107	101	214	332	486	705
Total Operating Income	-94	-147	-131	37	72	163	103	249	251	571	619
Total Gross Profit	20	15	160	446	781	1,036	1,119	1,466	1,847	2,321	2,808
Total Revenue	20	15	162	451	788	1,046	1,134	1,489	1,887	2,355	2,861
Operating Revenue	20	15	162	451	788	1,046	1,134	1,489	1,887	2,355	2,861
Total Cost of Revenue	0.00	0.00	1.25	4.90	7.40	10	14	23	40	34	52
Operating Cost of Revenue	0.00	0.00	1.25	4.90	7.40	10	14	23	40	34	52
Total Operating Expenses	114	162	292	410	708	873	1,017	1,217	1,597	1,751	2,189
Selling, General & Admin Expense	32	68	170	249	354	433	583	753	888	1,007	1,156
Research & Development Expense	81	94	122	161	354	440	433	464	709	744	1,033
Total Other Income / (Expense), net	5.27	6.28	-11	-15	-26	-56	-1.10	-35	81	-85	86
Interest Expense	0.00	0.00	20	31	32	51	26	70	0.00	138	0.00
Interest & Investment Income	1.93	6.28	8.34	16	19	13	3.80	4.10	53	91	90
Other Income / (Expense), net	3.35	-	0.00	0.00	-13	-18	21	31	28	-37	-4.00
Income Tax Expense	-	0.00	-	0.70	9.50	-301	12	59	82	145	227
Basic Earnings per Share	($1.05)	($1.63)	($1.62)	$0.23	$0.40	$4.38	$0.95	$1.61	$2.56	$3.40	$4.81
Weighted Average Basic Shares Outstanding	84.50M	86.71M	88.09M	90.20M	91.60M	93.10M	94.60M	95.80M	97.70M	100.40M	99.50M
Diluted Earnings per Share	($1.05)	($1.63)	($1.62)	$0.22	$0.39	$4.16	$0.92	$1.56	$2.47	$3.29	$4.67
Weighted Average Diluted Shares Outstanding	84.50M	86.71M	88.09M	95.40M	95.70M	97.80M	97.90M	98.90M	101M	103.70M	102.50M
Weighted Average Basic & Diluted Shares Outstanding	84.70M	86.60M	88M	91.80M	92.50M	93.94M	95.24M	96.59M	99.51M	99.70M	100.36M

This table shows Neurocrine Biosciences' 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	83	148	43	65	130	103	7.90	108	210	154	198
Consolidated Net Income / (Loss)	83	148	43	65	130	103	7.90	108	210	154	198
Net Income / (Loss) Continuing Operations	83	148	43	65	130	103	7.90	108	210	154	198
Total Pre-Tax Income	116	198	35	99	190	163	15	160	292	239	247
Total Operating Income	141	150	99	145	184	142	24	146	239	211	193
Total Gross Profit	488	507	508	581	614	618	563	676	781	788	801
Total Revenue	499	515	515	590	622	628	573	688	795	806	815
Operating Revenue	499	515	515	590	622	628	573	688	795	806	815
Total Cost of Revenue	11	8.50	7.50	9.20	8.00	9.30	9.20	11	14	18	14
Operating Cost of Revenue	11	8.50	7.50	9.20	8.00	9.30	9.20	11	14	18	14
Total Operating Expenses	346	356	409	436	430	476	540	531	542	577	607
Selling, General & Admin Expense	204	219	243	242	234	288	277	286	292	302	319
Research & Development Expense	142	138	165	194	196	189	263	244	250	275	317
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	-	-	-	-29
Total Other Income / (Expense), net	-26	48	-65	-47	6.50	21	-8.90	14	53	29	53
Interest & Investment Income	15	18	22	23	23	21	22	21	22	26	28
Other Income / (Expense), net	-40	29	1.60	-20	-17	87	-31	-6.70	31	2.70	25
Income Tax Expense	33	51	-8.90	34	61	60	6.80	52	82	86	49
Basic Earnings per Share	$0.85	$1.52	$0.43	$0.64	$1.28	$1.05	$0.08	$1.09	$2.11	$1.53	$1.97
Weighted Average Basic Shares Outstanding	97.90M	97.70M	99.80M	100.80M	101.10M	100.40M	99.70M	99M	99.40M	99.50M	100.50M
Diluted Earnings per Share	$0.82	$1.49	$0.42	$0.63	$1.24	$1.00	$0.08	$1.06	$2.04	$1.49	$1.91
Weighted Average Diluted Shares Outstanding	101.10M	101M	103.60M	103.90M	104.30M	103.70M	102.50M	101M	102.50M	102.50M	103.40M
Weighted Average Basic & Diluted Shares Outstanding	98.25M	99.51M	100.64M	100.98M	101.25M	99.70M	98.97M	99.18M	99.71M	100.36M	100.55M

This table details how cash moves in and out of Neurocrine Biosciences' 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	43	9.16	171	-112	-32	75	154	-73	-12	-18	480
Net Cash From Operating Activities	-38	-106	-94	101	147	229	257	339	390	595	783
Net Cash From Continuing Operating Activities	-38	-106	-94	101	147	229	257	339	390	595	783
Net Income / (Loss) Continuing Operations	-89	-141	-143	21	37	407	90	155	250	341	479
Consolidated Net Income / (Loss)	-89	-141	-143	21	37	407	90	155	250	341	479
Depreciation Expense	1.01	1.45	2.40	4.00	7.40	8.60	11	15	18	24	26
Amortization Expense	6.03	3.52	14	19	20	21	25	4.20	-15	-23	-8.60
Non-Cash Adjustments To Reconcile Net Income	25	24	43	58	88	136	113	212	165	395	249
Changes in Operating Assets and Liabilities, net	19	5.49	-10	-0.70	-6.00	-345	18	-47	-28	-142	37
Net Cash From Investing Activities	-196	113	-251	-243	-211	4.10	-130	-177	-467	-127	-264
Net Cash From Continuing Investing Activities	-196	113	-251	-243	-211	4.10	-130	-177	-467	-127	-264
Purchase of Property, Plant & Equipment	-1.93	-4.11	-6.94	-25	-15	-11	-23	-17	-28	-38	-34
Purchase of Investments	-449	-299	-583	-546	-866	-736	-805	-629	-1,411	-1,056	-1,320
Sale and/or Maturity of Investments	255	416	339	328	670	751	698	511	972	968	1,089
Net Cash From Financing Activities	277	2.39	517	30	32	-158	27	-234	65	-487	-38
Net Cash From Continuing Financing Activities	277	2.39	517	30	32	-158	27	-234	65	-487	-38
Repayment of Debt	-	-	-	0.00	0.00	-187	-0.10	-279	0.00	-309	0.00
Repurchase of Common Equity	-	-	-	-	-	-	-	0.00	0.00	-300	-168
Issuance of Common Equity	277	2.39	14	30	32	29	28	45	65	122	129
Effect of Exchange Rate Changes	-	-	-	-	-	0.00	0.00	-1.30	0.30	0.00	0.00
Cash Interest Paid	0.00	0.00	6.24	12	12	12	8.60	6.60	3.80	1.60	0.00
Cash Income Taxes Paid	0.00	-	0.00	0.00	0.50	15	5.10	14	52	218	81

This table details how cash moves in and out of Neurocrine Biosciences' 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	134	-43	145	-257	209	-116	-39	70	76	373	-447
Net Cash From Operating Activities	212	124	130	65	158	243	65	102	228	388	146
Net Cash From Continuing Operating Activities	212	124	130	65	158	243	65	102	228	388	146
Net Income / (Loss) Continuing Operations	83	148	43	65	130	103	7.90	108	210	154	198
Consolidated Net Income / (Loss)	83	148	43	65	130	103	7.90	108	210	154	198
Depreciation Expense	4.60	4.90	5.30	6.40	5.60	6.20	6.60	6.30	6.70	6.40	7.20
Amortization Expense	-5.10	-5.50	-6.20	-6.10	-5.60	-4.70	-3.60	-2.40	-1.70	-0.90	-1.20
Non-Cash Adjustments To Reconcile Net Income	88	9.10	132	127	58	54	91	75	30	62	6.00
Changes in Operating Assets and Liabilities, net	42	-33	-44	-127	-30	84	-37	-84	-17	167	-64
Net Cash From Investing Activities	-97	-202	-55	-28	25	-68	14	-29	-197	-53	-506
Net Cash From Continuing Investing Activities	-97	-202	-55	-28	25	-68	14	-29	-197	-53	-506
Purchase of Property, Plant & Equipment	-7.60	-5.40	-11	-12	-8.10	-7.30	-11	-13	-13	2.40	-9.10
Purchase of Investments	-363	-487	-320	-192	-233	-312	-273	-315	-409	-323	-820
Divestitures	-	-	-	-	-	-	0.00	-	-	-	63
Sale and/or Maturity of Investments	273	291	276	175	265	251	298	299	225	268	259
Net Cash From Financing Activities	19	35	70	-293	26	-290	-118	-3.30	46	37	-86
Net Cash From Continuing Financing Activities	19	35	70	-293	26	-290	-118	-3.30	46	37	-86
Repurchase of Common Equity	-	-	0.00	-	-	-	-150	-18	-	-	-54
Issuance of Common Equity	19	35	70	16	26	10	32	14	46	37	24
Other Financing Activities, net	-	-	-	-	-	-	0.00	-	-	-	-56
Cash Income Taxes Paid	1.60	47	0.20	93	52	73	0.60	72	1.10	7.80	0.30

This table presents Neurocrine Biosciences' 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	475	365	818	993	1,306	1,735	2,073	2,369	3,251	3,719	4,632
Total Current Assets	384	310	555	738	831	1,016	973	1,454	1,607	1,725	2,523
Cash & Equivalents	74	83	255	142	112	187	341	263	251	233	713
Short-Term Investments	305	224	261	509	558	614	371	726	781	843	767
Accounts Receivable	-	0.00	31	57	127	157	186	350	439	479	687
Inventories, net	-	-	1.02	11	17	28	31	35	38	57	69
Prepaid Expenses	-	-	-	-	-	-	-	-	-	49	171
Other Current Assets	4.88	3.09	6.84	19	17	30	46	79	98	64	116
Plant, Property, & Equipment, net	3.43	6.27	11	34	42	45	59	59	71	83	90
Total Noncurrent Assets	87	48	252	222	433	674	1,041	857	1,574	1,911	2,019
Long-Term Investments	82	43	247	216	356	265	624	299	849	864	1,184
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	0.00	319	315	306	363	486	320
Other Noncurrent Operating Assets	-	-	-	-	74	89	102	214	326	561	515
Total Liabilities & Shareholders' Equity	475	365	818	993	1,306	1,735	2,073	2,369	3,251	3,719	4,632
Total Liabilities	50	50	445	512	669	609	699	661	1,019	1,129	1,378
Total Current Liabilities	26	30	54	88	565	187	246	538	655	508	743
Accounts Payable	2.56	26	54	86	141	169	226	348	449	462	674
Other Current Liabilities	0.43	0.24	0.91	1.86	15	18	20	21	36	46	69
Total Noncurrent Liabilities	25	20	391	424	104	422	453	123	365	621	635
Other Noncurrent Operating Liabilities	13	8.10	8.04	36	104	104	118	123	365	621	635
Total Equity & Noncontrolling Interests	424	315	372	481	637	1,126	1,374	1,708	2,232	2,590	3,253
Total Preferred & Common Equity	424	315	372	481	637	1,126	1,374	1,708	2,232	2,590	3,253
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	424	315	372	481	637	1,126	1,374	1,708	2,232	2,590	3,253
Common Stock	1,341	1,372	1,573	1,660	1,768	1,850	2,012	2,123	2,382	2,555	2,792
Retained Earnings	-915	-1,056	-1,199	-1,178	-1,133	-725	-636	-407	-157	29	448
Accumulated Other Comprehensive Income / (Loss)	-0.98	-0.32	-1.85	-1.93	1.40	1.80	-1.70	-7.90	7.00	5.80	13

This table presents Neurocrine Biosciences' 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	2,143	2,360	2,613	2,848	3,472	3,305	3,535	3,688	3,890	4,266	4,906
Total Current Assets	1,206	1,433	1,497	1,650	1,799	1,670	1,877	1,638	1,749	2,158	2,436
Cash & Equivalents	212	104	160	294	396	140	349	194	264	340	267
Short-Term Investments	587	791	817	801	814	899	879	749	712	775	1,050
Accounts Receivable	301	392	388	418	451	468	481	516	596	728	768
Inventories, net	37	33	32	29	37	43	46	59	57	69	65
Prepaid Expenses	-	-	-	-	-	-	-	-	-	178	225
Other Current Assets	68	113	101	108	101	120	122	119	121	68	63
Plant, Property, & Equipment, net	61	63	66	69	75	80	80	87	92	97	91
Total Noncurrent Assets	877	864	1,051	1,130	1,598	1,555	1,578	1,963	2,049	2,010	2,379
Long-Term Investments	363	245	343	455	864	638	771	910	874	1,117	1,477
Noncurrent Deferred & Refundable Income Taxes	319	337	379	383	378	420	454	499	537	369	381
Other Noncurrent Operating Assets	195	245	292	257	322	464	319	518	601	489	521
Total Liabilities & Shareholders' Equity	2,143	2,360	2,613	2,848	3,472	3,305	3,535	3,688	3,890	4,266	4,906
Total Liabilities	599	675	760	846	1,086	796	816	1,152	1,196	1,262	1,499
Total Current Liabilities	485	374	583	692	713	399	430	523	546	638	832
Accounts Payable	298	356	392	503	417	359	393	475	490	584	773
Other Current Liabilities	18	18	21	19	173	40	37	48	57	54	59
Total Noncurrent Liabilities	114	301	178	155	373	397	386	629	649	624	667
Other Noncurrent Operating Liabilities	114	132	178	155	373	397	386	629	649	624	667
Total Equity & Noncontrolling Interests	1,545	1,685	1,853	2,002	2,386	2,509	2,719	2,536	2,694	3,004	3,407
Total Preferred & Common Equity	1,545	1,685	1,853	2,002	2,386	2,509	2,719	2,536	2,694	3,004	3,407
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	1,545	1,685	1,853	2,002	2,386	2,509	2,719	2,536	2,694	3,004	3,407
Common Stock	2,054	2,171	2,242	2,309	2,497	2,555	2,623	2,532	2,597	2,696	2,817
Retained Earnings	-496	-483	-388	-305	-114	-49	81	-5.30	85	294	590
Accumulated Other Comprehensive Income / (Loss)	-14	-2.70	-1.10	-1.70	3.30	2.50	15	9.00	13	13	0.40

This table displays calculated financial ratios and metrics derived from Neurocrine Biosciences' 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%	-24.12%	977.51%	179.16%	74.67%	32.71%	8.38%	31.34%	26.76%	24.81%	21.45%
EBITDA Growth	-48.21%	-69.89%	18.95%	151.72%	45.73%	101.49%	-9.30%	88.11%	-5.62%	89.27%	18.38%
EBIT Growth	-48.53%	-62.20%	10.86%	128.01%	61.14%	145.03%	-15.07%	126.74%	-0.18%	90.98%	15.32%
NOPAT Growth	-46.25%	-56.44%	10.86%	138.74%	61.52%	981.56%	-85.44%	98.57%	4.89%	112.38%	4.84%
Net Income Growth	-46.89%	-58.65%	-1.03%	114.80%	75.36%	1,000.81%	-78.00%	72.43%	61.62%	36.68%	40.23%
EPS Growth	-29.63%	-55.24%	0.61%	113.58%	77.27%	966.67%	-77.88%	69.57%	58.33%	33.20%	41.95%
Operating Cash Flow Growth	19.40%	-179.45%	11.16%	207.49%	44.97%	55.44%	12.25%	32.32%	14.88%	52.71%	31.46%
Free Cash Flow Firm Growth	-8.29%	-103.14%	-2.33%	111.93%	198.02%	586.85%	-63.59%	-137.11%	826.43%	6.40%	76.35%
Invested Capital Growth	-53.16%	2.78%	36.26%	87.87%	619.48%	2,203.66%	-1.16%	57.61%	-11.45%	24.60%	-9.30%
Revenue Q/Q Growth	0.00%	0.00%	140.84%	8.92%	16.68%	0.36%	5.99%	7.20%	5.79%	5.02%	6.63%
EBITDA Q/Q Growth	-12.84%	-16.43%	35.32%	5.71%	48.75%	20.23%	-29.58%	58.84%	26.88%	10.53%	13.96%
EBIT Q/Q Growth	-12.73%	-14.73%	30.66%	13.24%	78.08%	25.26%	-37.55%	73.47%	32.62%	10.23%	13.57%
NOPAT Q/Q Growth	-12.25%	-11.76%	30.66%	32.62%	27.06%	392.97%	-84.83%	132.41%	21.91%	-6.44%	12.13%
Net Income Q/Q Growth	-12.49%	-12.20%	26.56%	112.55%	75.63%	336.08%	-79.86%	165.46%	30.73%	-11.56%	11.82%
EPS Q/Q Growth	-11.70%	-10.88%	27.35%	0.00%	0.00%	320.20%	-79.87%	168.97%	30.69%	-12.96%	11.72%
Operating Cash Flow Q/Q Growth	0.28%	-18.30%	43.36%	10.84%	47.01%	-1.30%	-26.04%	69.19%	-4.76%	24.98%	22.91%
Free Cash Flow Firm Q/Q Growth	-4.19%	-12.78%	31.48%	49.76%	4,542.06%	118.33%	-67.42%	68.70%	203.58%	-17.47%	48.87%
Invested Capital Q/Q Growth	-14.55%	-11.97%	-96.23%	-162.11%	-66.90%	571.05%	3.21%	6.65%	-16.25%	-9.86%	-23.74%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	99.22%	98.91%	99.06%	99.03%	98.74%	98.44%	97.90%	98.56%	98.18%
EBITDA Margin	-423.98%	-949.33%	-71.41%	13.23%	11.04%	16.76%	14.03%	20.09%	14.96%	22.69%	22.11%
Operating Margin	-476.51%	-982.48%	-81.27%	8.16%	9.17%	15.58%	9.04%	16.73%	13.30%	24.22%	21.64%
EBIT Margin	-459.59%	-982.48%	-81.27%	8.16%	7.52%	13.89%	10.89%	18.79%	14.80%	22.65%	21.50%
Profit (Net Income) Margin	-449.84%	-940.60%	-88.19%	4.68%	4.69%	38.94%	7.90%	10.38%	13.23%	14.49%	16.73%
Tax Burden Percent	100.00%	100.00%	100.00%	96.79%	79.57%	381.72%	88.36%	72.23%	75.19%	70.23%	67.85%
Interest Burden Percent	97.88%	95.74%	108.51%	59.24%	78.41%	73.43%	82.17%	76.45%	118.90%	91.11%	114.68%
Effective Tax Rate	0.00%	0.00%	0.00%	3.21%	20.43%	-281.72%	11.64%	27.77%	24.81%	29.77%	32.15%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	868.82%	315.68%	24.11%	37.40%	34.00%	68.46%	67.85%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	872.54%	347.08%	24.23%	39.79%	29.69%	71.71%	65.30%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	-862.20%	-269.48%	-16.95%	-27.37%	-21.33%	-54.31%	-51.47%
Return on Equity (ROE)	-28.09%	-38.17%	-41.50%	4.95%	6.62%	46.20%	7.17%	10.03%	12.68%	14.16%	16.38%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	231.54%	132.32%	25.29%	-7.33%	46.15%	46.56%	77.60%
Operating Return on Assets (OROA)	-25.31%	-35.09%	-22.21%	4.06%	5.16%	9.56%	6.48%	12.60%	9.94%	15.31%	14.73%
Return on Assets (ROA)	-24.78%	-33.60%	-24.11%	2.33%	3.22%	26.79%	4.71%	6.96%	8.89%	9.79%	11.46%
Return on Common Equity (ROCE)	-28.09%	-38.17%	-41.50%	4.95%	6.62%	46.20%	7.17%	10.03%	12.68%	14.16%	16.38%
Return on Equity Simple (ROE_SIMPLE)	-20.95%	-44.81%	-38.30%	4.39%	5.81%	36.17%	6.52%	9.05%	11.19%	13.18%	0.00%
Net Operating Profit after Tax (NOPAT)	-66	-103	-92	36	58	622	91	180	189	401	420
NOPAT Margin	-333.56%	-687.74%	-56.89%	7.89%	7.30%	59.49%	7.99%	12.08%	10.00%	17.01%	14.68%
Net Nonoperating Expense Percent (NNEP)	-6.54%	-9.23%	-13.42%	-3.29%	-3.72%	-31.40%	-0.11%	-2.39%	4.31%	-3.25%	2.54%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	9.58%	7.85%	15.47%	12.91%
Cost of Revenue to Revenue	0.00%	0.00%	0.78%	1.09%	0.94%	0.97%	1.26%	1.56%	2.10%	1.44%	1.82%
SG&A Expenses to Revenue	164.30%	453.87%	105.12%	55.16%	44.93%	41.43%	51.46%	50.56%	47.04%	42.76%	40.42%
R&D to Revenue	412.22%	628.61%	75.38%	35.59%	44.96%	42.02%	38.24%	31.15%	37.57%	31.57%	36.12%
Operating Expenses to Revenue	576.51%	1,082.48%	180.50%	90.76%	89.89%	83.45%	89.70%	81.72%	84.60%	74.33%	76.54%
Earnings before Interest and Taxes (EBIT)	-91	-147	-131	37	59	145	123	280	279	533	615
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-84	-142	-115	60	87	175	159	299	282	534	633
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.49	10.68	18.45	13.47	15.54	7.95	5.88	6.72	5.80	5.34	4.35
Price to Tangible Book Value (P/TBV)	11.49	10.68	18.45	13.47	15.54	7.95	5.88	6.87	5.89	5.41	4.35
Price to Revenue (P/Rev)	246.66	224.13	42.48	14.35	12.56	8.56	7.13	7.71	6.86	5.87	4.94
Price to Earnings (P/E)	0.00	0.00	0.00	306.90	267.54	21.99	90.18	74.32	51.84	40.49	29.55
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%	0.33%	0.37%	4.55%	1.11%	1.35%	1.93%	2.47%	3.38%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	565.97	21.72	18.96	17.61	21.56	18.30	19.49
Enterprise Value to Revenue (EV/Rev)	223.30	200.74	40.05	13.29	11.78	7.85	6.25	6.96	5.95	5.04	4.01
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	100.46	106.69	46.82	44.52	34.65	39.80	22.23	18.15
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	162.97	156.52	56.48	57.37	37.04	40.22	22.27	18.66
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	168.37	161.34	13.19	78.16	57.62	59.55	29.65	27.32
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	59.14	63.14	35.92	27.60	30.53	28.81	19.95	14.66
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	470.69	244.44	31.47	74.54	0.00	43.88	43.61	23.89
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.99	0.81	0.64	0.28	0.24	0.10	0.08	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.99	0.81	0.00	0.28	0.24	0.00	0.00	0.00	0.00
Financial Leverage	-1.11	-1.11	-1.10	-1.03	-0.99	-0.78	-0.70	-0.69	-0.72	-0.76	-0.79
Leverage Ratio	1.13	1.14	1.72	2.12	2.06	1.72	1.52	1.44	1.43	1.45	1.43
Compound Leverage Factor	1.11	1.09	1.87	1.26	1.61	1.27	1.25	1.10	1.70	1.32	1.64
Debt to Total Capital	0.00%	0.00%	49.83%	44.69%	39.09%	22.01%	19.61%	9.02%	7.08%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	39.09%	0.00%	0.00%	9.02%	7.08%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	49.83%	44.69%	0.00%	22.01%	19.61%	0.00%	0.00%	0.00%	0.00%
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	100.00%	100.00%	50.17%	55.31%	60.91%	77.99%	80.39%	90.98%	92.92%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	-3.20	6.51	4.70	1.81	2.11	0.57	0.60	0.00	0.00
Net Debt to EBITDA	0.00	0.00	3.41	-8.01	-7.10	-4.27	-6.29	-3.74	-6.06	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	-3.20	6.51	0.00	1.81	2.11	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	-4.02	10.91	7.11	0.51	3.70	0.94	0.90	0.00	0.00
Net Debt to NOPAT	0.00	0.00	4.28	-13.43	-10.73	-1.20	-11.05	-6.22	-9.07	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	-4.02	10.91	0.00	0.51	3.70	0.00	0.00	0.00	0.00
Altman Z-Score	55.75	35.75	7.60	7.28	8.66	9.70	7.68	11.67	8.77	8.86	7.81
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	14.94	10.21	10.20	8.36	1.47	5.45	3.96	2.70	2.45	3.40	3.39
Quick Ratio	14.75	10.11	10.05	8.03	1.41	5.14	3.65	2.49	2.25	3.06	2.92
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-51	-104	-107	13	38	261	95	-35	256	272	480
Operating Cash Flow to CapEx	-1,973.87%	-2,592.94%	-1,360.61%	408.87%	1,000.00%	2,096.33%	1,096.15%	2,056.97%	1,377.74%	1,558.64%	2,302.06%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	-5.47	0.42	1.19	5.09	3.68	-0.50	0.00	1.97	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	-4.83	3.32	4.59	4.46	9.94	4.85	0.00	4.30	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	-5.19	2.51	4.13	4.25	9.03	4.61	0.00	4.03	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.06	0.04	0.27	0.50	0.69	0.69	0.60	0.67	0.67	0.68	0.69
Accounts Receivable Turnover	0.00	0.00	0.00	10.19	8.57	7.37	6.62	5.56	4.78	5.13	4.91
Inventory Turnover	0.00	0.00	0.00	0.82	0.53	0.45	0.49	0.71	1.08	0.71	0.82
Fixed Asset Turnover	6.66	3.09	18.92	20.20	20.80	24.18	21.97	25.40	29.17	30.71	33.18
Accounts Payable Turnover	0.00	0.00	0.03	0.07	0.07	0.07	0.07	0.08	0.10	0.07	0.09
Days Sales Outstanding (DSO)	0.00	0.00	0.00	35.81	42.61	49.50	55.16	65.65	76.33	71.16	74.38
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	442.77	694.59	818.54	746.59	516.03	337.42	513.68	442.76
Days Payable Outstanding (DPO)	0.00	0.00	11,599.37	5,210.45	5,615.01	5,601.49	5,034.70	4,510.58	3,661.03	4,886.71	3,978.92
Cash Conversion Cycle (CCC)	0.00	0.00	-11,599.37	-4,731.87	-4,877.81	-4,733.44	-4,232.95	-3,928.90	-3,247.28	-4,301.86	-3,461.77
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-42	-41	-26	-3.16	16	378	373	589	521	649	589
Invested Capital Turnover	-0.57	-0.36	-4.83	-30.91	119.02	5.31	3.02	3.10	3.40	4.02	4.62
Increase / (Decrease) in Invested Capital	-15	1.17	15	23	20	361	-4.40	215	-67	128	-60
Enterprise Value (EV)	4,414	3,011	6,473	5,997	9,282	8,207	7,079	10,363	11,235	11,880	11,477
Market Capitalization	4,876	3,362	6,866	6,476	9,899	8,955	8,080	11,482	12,946	13,820	14,141
Book Value per Share	$4.92	$3.62	$4.21	$5.30	$6.92	$12.05	$14.48	$17.76	$22.72	$25.58	$32.63
Tangible Book Value per Share	$4.92	$3.62	$4.21	$5.30	$6.92	$12.05	$14.48	$17.38	$22.36	$25.22	$32.63
Total Capital	424	315	742	869	1,046	1,444	1,709	1,877	2,402	2,590	3,253
Total Debt	0.00	0.00	370	388	409	318	335	169	170	0.00	0.00
Total Long-Term Debt	0.00	0.00	370	388	0.00	318	335	0.00	0.00	0.00	0.00
Net Debt	-462	-351	-394	-478	-617	-748	-1,001	-1,119	-1,711	-1,940	-2,664
Capital Expenditures (CapEx)	1.93	4.10	6.93	25	15	11	23	17	28	38	34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-21	-27	-15	-1.37	4.00	29	16	96	91	141	299
Debt-free Net Working Capital (DFNWC)	358	280	500	650	675	830	727	1,085	1,122	1,217	1,779
Net Working Capital (NWC)	358	280	500	650	266	830	727	916	952	1,217	1,779
Net Nonoperating Expense (NNE)	23	38	51	15	21	215	0.97	25	-61	59	-59
Net Nonoperating Obligations (NNO)	-466	-356	-398	-484	-621	-748	-1,001	-1,119	-1,711	-1,940	-2,664
Total Depreciation and Amortization (D&A)	7.04	4.97	16	23	28	30	36	19	3.00	0.90	17
Debt-free, Cash-free Net Working Capital to Revenue	-105.38%	-182.15%	-9.55%	-0.30%	0.51%	2.74%	1.39%	6.44%	4.81%	5.98%	10.45%
Debt-free Net Working Capital to Revenue	1,812.73%	1,866.85%	309.66%	143.96%	85.59%	79.33%	64.14%	72.90%	59.47%	51.67%	62.20%
Net Working Capital to Revenue	1,812.73%	1,866.85%	309.66%	143.96%	33.71%	79.33%	64.14%	61.52%	50.46%	51.67%	62.20%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($1.05)	($1.63)	($1.62)	$0.23	$0.40	$4.38	$0.95	$1.61	$2.56	$3.40	$4.81
Adjusted Weighted Average Basic Shares Outstanding	84.50M	86.71M	88.09M	90.24M	91.63M	93.10M	94.60M	95.80M	97.70M	100.40M	99.50M
Adjusted Diluted Earnings per Share	($1.05)	($1.63)	($1.62)	$0.22	$0.39	$4.16	$0.92	$1.56	$2.47	$3.29	$4.67
Adjusted Weighted Average Diluted Shares Outstanding	84.50M	86.71M	88.09M	95.39M	95.73M	97.80M	97.90M	98.90M	101M	103.70M	102.50M
Adjusted Basic & Diluted Earnings per Share	($1.05)	$0.00	($1.62)	$0.23	$0.40	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	86.45M	87.11M	89.27M	90.82M	92.29M	93.94M	95.24M	96.59M	99.51M	99.70M	100.36M
Normalized Net Operating Profit after Tax (NOPAT)	-66	-103	-92	36	58	114	91	180	189	401	420
Normalized NOPAT Margin	-333.56%	-687.74%	-56.89%	7.89%	7.30%	10.91%	7.99%	12.08%	10.00%	17.01%	14.68%
Pre Tax Income Margin	-449.84%	-940.60%	-88.19%	4.83%	5.90%	10.20%	8.95%	14.37%	17.60%	20.63%	24.66%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	-6.73	1.21	1.85	2.84	4.78	4.00	0.00	3.85	0.00
NOPAT to Interest Expense	0.00	0.00	-4.71	1.17	1.80	12.15	3.51	2.57	0.00	2.89	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	-7.08	0.39	1.39	2.63	3.88	3.76	0.00	3.58	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	-5.07	0.35	1.34	11.94	2.60	2.33	0.00	2.62	0.00
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	87.90%	35.04%

This table displays calculated financial ratios and metrics derived from Neurocrine Biosciences' 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	-	-	-	-	-	-	-	-	-	-	100,363,463.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	100,363,463.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	1.97
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	28.59%	25.05%	22.57%	30.37%	24.72%	21.84%	11.12%	16.49%	27.78%	28.33%	42.25%
EBITDA Growth	-2.42%	51.83%	110.36%	12.22%	65.90%	28.88%	-104.00%	13.51%	64.53%	54.73%	5,717.50%
EBIT Growth	2.22%	62.12%	110.89%	13.17%	65.08%	27.61%	-106.94%	10.68%	61.53%	52.46%	3,224.29%
NOPAT Growth	65.22%	43.50%	256.26%	65.83%	23.51%	-19.61%	-89.85%	2.38%	36.87%	50.38%	1,122.74%
Net Income Growth	21.31%	65.96%	156.66%	-31.94%	56.20%	-30.20%	-81.80%	65.38%	61.40%	49.08%	2,405.06%
EPS Growth	18.84%	63.74%	153.16%	-33.68%	51.22%	-32.89%	-80.95%	68.25%	64.52%	49.00%	2,287.50%
Operating Cash Flow Growth	114.57%	-13.64%	204.07%	-64.03%	-25.47%	96.36%	-50.27%	57.89%	43.99%	60.16%	125.00%
Free Cash Flow Firm Growth	124.19%	230.91%	274.83%	68.84%	-12.33%	-121.27%	-158.13%	357.85%	338.97%	613.08%	194.93%
Invested Capital Growth	12.76%	-11.45%	-39.23%	18.35%	15.77%	24.60%	57.16%	1.49%	7.21%	-9.30%	-10.05%
Revenue Q/Q Growth	10.18%	3.29%	0.02%	14.54%	5.40%	0.90%	-8.78%	20.07%	15.62%	1.33%	1.12%
EBITDA Q/Q Growth	-10.26%	77.63%	-93.23%	1,013.27%	32.67%	37.99%	-101.74%	3,670.00%	92.30%	-20.21%	2.56%
EBIT Q/Q Growth	-8.84%	77.35%	-93.20%	928.69%	32.99%	37.09%	-103.06%	2,084.29%	94.10%	-20.77%	2.39%
NOPAT Q/Q Growth	75.60%	10.35%	11.53%	-23.27%	30.79%	-28.18%	-85.91%	673.73%	74.86%	-21.09%	14.53%
Net Income Q/Q Growth	-12.98%	77.74%	-70.62%	49.77%	99.69%	-20.57%	-92.34%	1,260.76%	94.88%	-26.63%	28.76%
EPS Q/Q Growth	-13.68%	81.71%	-71.81%	50.00%	96.83%	-19.35%	-92.00%	1,225.00%	92.45%	-26.96%	28.19%
Operating Cash Flow Q/Q Growth	18.04%	-41.75%	5.51%	-50.42%	144.58%	53.48%	-73.28%	57.41%	123.04%	70.73%	-62.46%
Free Cash Flow Firm Q/Q Growth	129.15%	476.81%	125.92%	-108.20%	182.01%	-239.96%	-517.41%	136.39%	39.61%	63.59%	14.24%
Invested Capital Q/Q Growth	-11.54%	-16.25%	-16.64%	91.64%	-13.48%	-9.86%	5.14%	23.76%	-8.60%	-23.74%	4.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	97.75%	98.35%	98.54%	98.44%	98.71%	98.52%	98.39%	98.36%	98.24%	97.82%	98.31%
EBITDA Margin	20.17%	34.69%	2.19%	21.31%	26.83%	36.69%	-0.70%	20.77%	34.55%	27.20%	27.59%
Operating Margin	28.31%	29.17%	19.27%	24.64%	29.55%	22.62%	4.12%	21.18%	30.07%	26.18%	23.74%
EBIT Margin	20.27%	34.80%	2.37%	21.26%	26.83%	36.45%	-1.22%	20.20%	33.92%	26.52%	26.85%
Profit (Net Income) Margin	16.66%	28.67%	8.42%	11.01%	20.86%	16.43%	1.38%	15.64%	26.36%	19.08%	24.30%
Tax Burden Percent	71.89%	74.52%	125.80%	65.92%	68.21%	63.41%	53.74%	67.40%	71.80%	64.20%	80.19%
Interest Burden Percent	114.34%	110.54%	282.79%	78.57%	114.02%	71.07%	-210.00%	114.83%	108.23%	112.08%	112.85%
Effective Tax Rate	28.11%	25.48%	-25.80%	34.08%	31.79%	36.59%	46.26%	32.60%	28.20%	35.80%	19.81%
Return on Invested Capital (ROIC)	61.84%	73.95%	83.62%	44.82%	67.33%	57.73%	9.57%	42.72%	77.60%	77.67%	91.10%
ROIC Less NNEP Spread (ROIC-NNEP)	63.39%	71.42%	89.20%	47.01%	67.07%	57.02%	9.82%	42.18%	75.81%	76.87%	89.26%
Return on Net Nonoperating Assets (RNNOA)	-42.41%	-51.31%	-64.02%	-30.46%	-48.00%	-43.18%	-7.59%	-28.59%	-56.04%	-60.58%	-69.78%
Return on Equity (ROE)	19.43%	22.64%	19.60%	14.37%	19.34%	14.56%	1.98%	14.13%	21.56%	17.09%	21.32%
Cash Return on Invested Capital (CROIC)	14.37%	46.15%	112.39%	36.18%	49.18%	46.56%	13.65%	37.52%	43.25%	77.60%	97.35%
Operating Return on Assets (OROA)	14.49%	23.37%	1.61%	15.23%	18.85%	24.63%	-0.82%	14.10%	23.33%	18.17%	19.39%
Return on Assets (ROA)	11.91%	19.25%	5.72%	7.89%	14.66%	11.10%	0.93%	10.91%	18.13%	13.07%	17.54%
Return on Common Equity (ROCE)	19.43%	22.64%	19.60%	14.37%	19.34%	14.56%	1.98%	14.13%	21.56%	17.09%	21.32%
Return on Equity Simple (ROE_SIMPLE)	9.54%	0.00%	15.49%	13.52%	14.19%	0.00%	12.06%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	102	112	125	96	125	90	13	98	172	135	155
NOPAT Margin	20.35%	21.74%	24.24%	16.24%	20.15%	14.34%	2.22%	14.27%	21.59%	16.81%	19.04%
Net Nonoperating Expense Percent (NNEP)	-1.55%	2.52%	-5.58%	-2.18%	0.26%	0.72%	-0.25%	0.53%	1.79%	0.79%	1.84%
Return On Investment Capital (ROIC_SIMPLE)	-	4.66%	-	-	-	3.48%	0.50%	3.64%	5.71%	4.16%	4.55%
Cost of Revenue to Revenue	2.25%	1.65%	1.46%	1.56%	1.29%	1.48%	1.61%	1.64%	1.76%	2.19%	1.69%
SG&A Expenses to Revenue	40.94%	42.49%	47.18%	41.00%	37.66%	45.85%	48.29%	41.64%	36.68%	37.47%	39.10%
R&D to Revenue	28.51%	26.69%	32.10%	32.80%	31.51%	30.05%	45.98%	35.53%	31.49%	34.17%	38.97%
Operating Expenses to Revenue	69.45%	69.18%	79.27%	73.81%	69.17%	75.90%	94.27%	77.18%	68.17%	71.63%	74.56%
Earnings before Interest and Taxes (EBIT)	101	179	12	126	167	229	-7.00	139	270	214	219
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	101	179	11	126	167	230	-4.00	143	275	219	225
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.49	5.80	5.68	5.52	4.28	5.34	4.35	4.62	4.64	4.35	3.88
Price to Tangible Book Value (P/TBV)	5.58	5.89	5.76	5.60	4.33	5.41	4.41	4.68	4.69	4.35	3.88
Price to Revenue (P/Rev)	6.16	6.86	6.84	6.54	5.19	5.87	4.57	4.96	5.19	4.94	4.26
Price to Earnings (P/E)	57.52	51.84	36.65	40.85	30.15	40.49	36.06	35.71	32.53	29.55	19.78
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	1.74%	1.93%	2.73%	2.45%	3.32%	2.47%	2.77%	2.80%	3.07%	3.38%	5.06%
Enterprise Value to Invested Capital (EV/IC)	15.44	21.56	26.70	14.63	13.38	18.30	13.44	12.53	15.14	19.49	16.98
Enterprise Value to Revenue (EV/Rev)	5.38	5.95	5.85	5.75	4.30	5.04	3.80	4.22	4.36	4.01	3.36
Enterprise Value to EBITDA (EV/EBITDA)	43.17	39.80	28.75	29.20	19.93	22.23	21.32	23.67	21.07	18.15	12.11
Enterprise Value to EBIT (EV/EBIT)	45.61	40.22	28.75	29.13	19.91	22.27	21.56	24.13	21.59	18.66	12.40
Enterprise Value to NOPAT (EV/NOPAT)	62.08	59.55	31.75	29.92	22.50	29.65	28.27	32.38	31.21	27.32	18.54
Enterprise Value to Operating Cash Flow (EV/OCF)	23.46	28.81	17.97	22.96	20.23	19.95	17.31	18.67	18.36	14.66	12.07
Enterprise Value to Free Cash Flow (EV/FCFF)	113.89	43.88	17.96	43.82	29.19	43.61	120.30	33.65	36.23	23.89	16.52
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.08	0.08	0.05	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.67	-0.72	-0.72	-0.65	-0.72	-0.76	-0.77	-0.68	-0.74	-0.79	-0.78
Leverage Ratio	1.41	1.43	1.43	1.36	1.35	1.45	1.45	1.38	1.36	1.43	1.45
Compound Leverage Factor	1.61	1.58	4.05	1.07	1.54	1.03	-3.06	1.59	1.48	1.60	1.63
Debt to Total Capital	7.82%	7.08%	4.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	7.82%	7.08%	4.89%	0.00%	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%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
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	92.18%	92.92%	95.11%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.76	0.60	0.30	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-6.20	-6.06	-4.84	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	1.10	0.90	0.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	-8.92	-9.07	-5.34	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	8.79	8.67	8.40	11.65	9.87	8.58	6.75	7.41	7.98	7.52	6.63
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	2.39	2.45	2.52	4.19	4.37	3.40	3.13	3.20	3.38	3.39	2.93
Quick Ratio	2.19	2.25	2.33	3.78	3.98	3.06	2.79	2.88	2.89	2.92	2.51
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	31	179	405	-33	27	-38	-236	86	120	196	224
Operating Cash Flow to CapEx	2,789.47%	2,287.04%	1,163.39%	556.90%	1,950.62%	3,321.92%	605.61%	816.00%	1,723.48%	0.00%	1,602.20%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	368.47	-0.67	0.00	-0.44	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	118.45	1.30	0.00	2.77	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	108.27	1.07	0.00	2.68	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.71	0.67	0.68	0.72	0.70	0.68	0.67	0.70	0.69	0.69	0.72
Accounts Receivable Turnover	4.96	4.78	4.71	4.95	4.99	5.13	4.99	4.72	4.44	4.91	4.83
Inventory Turnover	1.18	1.08	1.10	0.98	0.89	0.71	0.74	0.76	0.76	0.82	0.92
Fixed Asset Turnover	27.51	29.17	28.70	29.09	30.15	30.71	29.73	29.22	30.26	33.18	34.88
Accounts Payable Turnover	0.10	0.10	0.10	0.10	0.07	0.07	0.08	0.09	0.09	0.09	0.09
Days Sales Outstanding (DSO)	73.56	76.33	77.56	73.69	73.14	71.16	73.13	77.36	82.25	74.38	75.54
Days Inventory Outstanding (DIO)	308.70	337.42	332.93	372.02	410.08	513.68	492.29	479.91	479.58	442.76	397.83
Days Payable Outstanding (DPO)	3,756.97	3,661.03	3,644.81	3,760.80	4,923.65	4,886.71	4,561.99	4,094.18	4,070.83	3,978.92	4,017.58
Cash Conversion Cycle (CCC)	-3,374.71	-3,247.28	-3,234.32	-3,315.10	-4,440.43	-4,301.86	-3,996.57	-3,536.91	-3,509.00	-3,461.77	-3,544.21
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	622	521	434	833	720	649	683	845	772	589	614
Invested Capital Turnover	3.04	3.40	3.45	2.76	3.34	4.02	4.32	2.99	3.59	4.62	4.78
Increase / (Decrease) in Invested Capital	70	-67	-280	129	98	128	248	12	52	-60	-69
Enterprise Value (EV)	9,606	11,235	11,599	12,178	9,636	11,880	9,174	10,590	11,692	11,477	10,429
Market Capitalization	10,986	12,946	13,551	13,855	11,634	13,820	11,027	12,439	13,923	14,141	13,222
Book Value per Share	$20.50	$22.72	$23.91	$24.93	$26.93	$25.58	$25.43	$27.22	$30.28	$32.63	$33.95
Tangible Book Value per Share	$20.14	$22.36	$23.57	$24.60	$26.58	$25.22	$25.07	$26.85	$29.92	$32.63	$33.95
Total Capital	2,172	2,402	2,509	2,509	2,719	2,590	2,536	2,694	3,004	3,253	3,407
Total Debt	170	170	123	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-1,380	-1,711	-1,952	-1,677	-1,999	-1,940	-1,853	-1,849	-2,231	-2,664	-2,793
Capital Expenditures (CapEx)	7.60	5.40	11	12	8.10	7.30	11	13	13	-2.40	9.10
Debt-free, Cash-free Net Working Capital (DFCFNWC)	33	91	-1.70	232	219	141	172	227	406	299	288
Debt-free Net Working Capital (DFNWC)	1,128	1,122	1,209	1,271	1,447	1,217	1,115	1,203	1,520	1,779	1,604
Net Working Capital (NWC)	958	952	1,086	1,271	1,447	1,217	1,115	1,203	1,520	1,779	1,604
Net Nonoperating Expense (NNE)	18	-36	82	31	-4.43	-13	4.78	-9.37	-38	-18	-43
Net Nonoperating Obligations (NNO)	-1,380	-1,711	-1,952	-1,677	-1,999	-1,940	-1,853	-1,849	-2,231	-2,664	-2,793
Total Depreciation and Amortization (D&A)	-0.50	-0.60	-0.90	0.30	0.00	1.50	3.00	3.90	5.00	5.50	6.00
Debt-free, Cash-free Net Working Capital to Revenue	1.86%	4.81%	-0.09%	10.96%	9.76%	5.98%	7.11%	9.04%	15.12%	10.45%	9.29%
Debt-free Net Working Capital to Revenue	63.24%	59.47%	60.99%	59.98%	64.51%	51.67%	46.22%	47.91%	56.67%	62.20%	51.71%
Net Working Capital to Revenue	53.72%	50.46%	54.80%	59.98%	64.51%	51.67%	46.22%	47.91%	56.67%	62.20%	51.71%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.85	$1.52	$0.43	$0.64	$1.28	$1.05	$0.08	$1.09	$2.11	$1.53	$1.97
Adjusted Weighted Average Basic Shares Outstanding	97.90M	97.70M	99.80M	100.80M	101.10M	100.40M	99.70M	99M	99.40M	99.50M	100.50M
Adjusted Diluted Earnings per Share	$0.82	$1.49	$0.42	$0.63	$1.24	$1.00	$0.08	$1.06	$2.04	$1.49	$1.91
Adjusted Weighted Average Diluted Shares Outstanding	101.10M	101M	103.60M	103.90M	104.30M	103.70M	102.50M	101M	102.50M	102.50M	103.40M
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	98.25M	99.51M	100.64M	100.98M	101.25M	99.70M	98.97M	99.18M	99.71M	100.36M	100.55M
Normalized Net Operating Profit after Tax (NOPAT)	102	112	70	96	125	90	13	98	172	135	155
Normalized NOPAT Margin	20.35%	21.74%	13.49%	16.24%	20.15%	14.34%	2.22%	14.27%	21.59%	16.81%	19.04%
Pre Tax Income Margin	23.18%	38.47%	6.70%	16.71%	30.59%	25.90%	2.57%	23.20%	36.71%	29.72%	30.30%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	11.09	2.53	0.00	2.61	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	113.56	1.93	0.00	1.03	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.91	2.29	0.00	2.53	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	103.38	1.70	0.00	0.94	0.00	0.00	0.00	0.00	0.00
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	0.00%	0.00%	0.00%	0.00%	0.00%	87.90%	147.16%	134.28%	109.28%	35.04%	10.72%

Financials Breakdown Chart

Key Financial Trends

Neurocrine Biosciences (NBIX) continued to show strong revenue momentum and healthy cash generation in late 2025, supported by solid profitability and a robust balance sheet. Below are the most notable trends observed in the company's quarterly filings over the last four years.

Revenue growth: Q4 2025 operating revenue reached 805,500,000 USD, up from 627,700,000 USD in Q4 2024 (year-over-year increase).
Net income growth: Net income attributable to common shareholders rose to 153,700,000 USD in Q4 2025 from 103,100,000 USD in Q4 2024.
Operating cash flow expansion: Net cash from continuing operating activities was 388,400,000 USD in Q4 2025, up from 242,500,000 USD in Q4 2024.
High gross margins: Q4 2025 gross profit was 787,900,000 USD on 805,500,000 USD revenue, implying a very high gross margin (around 97.8%).
Improving operating income: Total operating income rose to 210,900,000 USD in Q4 2025, versus 142,000,000 USD in Q4 2024.
Cash balance trend: Net change in cash increased by 372,800,000 USD in Q4 2025, signaling stronger liquidity generation quarter-over-quarter.
Healthy liquidity position: Cash and short-term investments totaled about 1.11 billion USD (roughly 340.2M in cash and 774.6M in short-term investments on the balance sheet around Q3 2025), with total equity around 3.00 billion USD, underscoring solid liquidity and financial flexibility.
Low debt burden: Long-term debt appears minimal/zero (Q3 2025 balance sheet shows Long-Term Debt at 0.0), indicating a conservative leverage profile.
R&D and SG&A levels: Research & Development expense (~275.2M in Q4 2025) and Selling, General & Administrative expense (~301.8M) remain substantial but typical for a biotech company at this stage, with no clear margin compression observed yet.
Significant investing activity: NBIX shows sizable net cash outflows from investing activities driven by large purchases of investments (e.g., -323,000,000 USD in Q4 2025, -315,100,000 USD in Q2 2025, -408,500,000 USD in Q3 2025), which weigh on near-term liquidity even as they may support future returns.

05/25/26 11:23 PM ETAI Generated. May Contain Errors.

Neurocrine Biosciences Financials - Frequently Asked Questions

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

Neurocrine Biosciences' net income appears to be on an upward trend, with a most recent value of $478.60 million in 2025, falling from -$88.93 million in 2015. The previous period was $341.30 million in 2024. Check out Neurocrine Biosciences' forecast to explore projected trends and price targets.

Neurocrine Biosciences' total operating income in 2025 was $619.10 million, based on the following breakdown:

Total Gross Profit: $2.81 billion
Total Operating Expenses: $2.19 billion

Over the last 10 years, Neurocrine Biosciences' total revenue changed from $19.77 million in 2015 to $2.86 billion in 2025, a change of 14,369.6%.

Neurocrine Biosciences' total liabilities were at $1.38 billion at the end of 2025, a 22.1% increase from 2024, and a 2,638.7% increase since 2015.

In the past 10 years, Neurocrine Biosciences' cash and equivalents has ranged from $74.20 million in 2015 to $713 million in 2025, and is currently $713 million as of their latest financial filing in 2025.

Over the last 10 years, Neurocrine Biosciences' book value per share changed from 4.92 in 2015 to 32.63 in 2025, a change of 562.6%.

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Financial statements for NASDAQ:NBIX last updated on 5/7/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Neurocrine Biosciences (NBIX) Financials

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Key Financial Trends

Neurocrine Biosciences Financials - Frequently Asked Questions

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Neurocrine Biosciences (NBIX) Financials

Annual Income Statements for Neurocrine Biosciences

Quarterly Income Statements for Neurocrine Biosciences

Annual Cash Flow Statements for Neurocrine Biosciences

Quarterly Cash Flow Statements for Neurocrine Biosciences

Annual Balance Sheets for Neurocrine Biosciences

Quarterly Balance Sheets for Neurocrine Biosciences

Annual Metrics And Ratios for Neurocrine Biosciences

Quarterly Metrics And Ratios for Neurocrine Biosciences

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Neurocrine Biosciences Financials - Frequently Asked Questions

When does Neurocrine Biosciences' financial year end?

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How has Neurocrine Biosciences' revenue changed over the last 10 years?

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How has Neurocrine Biosciences' book value per share changed over the last 10 years?

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