What is Rigel Pharmaceuticals' operating income?

Rigel Pharmaceuticals' total operating income in 2025 was $125.47 million, based on the following breakdown: Total Gross Profit: $274.66 million Total Operating Expenses: $149.20 million

Rigel Pharmaceuticals (RIGL) Financials

$38.72 0.00 (0.00%)

Closing price 07/2/2026 04:00 PM Eastern

Extended Trading

$38.75 +0.03 (+0.08%)

As of 07/2/2026 05:54 PM Eastern

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Annual Income Statements for Rigel Pharmaceuticals

This table shows Rigel Pharmaceuticals' 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	-51	-69	-79	-70	-67	-30	-18	-59	-25	17	367
Consolidated Net Income / (Loss)	-51	-69	-79	-70	-67	-30	-18	-59	-25	17	367
Net Income / (Loss) Continuing Operations	-52	-69	-79	-70	-67	-30	-18	-59	-25	17	367
Total Pre-Tax Income	-52	-69	-79	-70	-67	-30	-17	-59	-25	18	122
Total Operating Income	-52	-70	-80	-73	-69	-29	-12	-56	-20	24	125
Total Gross Profit	29	20	4.48	44	58	108	148	118	110	161	275
Total Revenue	29	20	4.48	45	59	109	149	120	117	179	294
Operating Revenue	29	20	4.48	45	59	109	149	120	117	179	294
Total Cost of Revenue	0.00	0.00	0.00	0.29	0.91	0.90	1.08	1.75	7.11	19	20
Operating Cost of Revenue	-	0.00	-	0.29	0.91	0.90	1.08	1.75	7.11	19	20
Total Operating Expenses	81	90	84	117	127	137	161	174	130	136	149
Selling, General & Admin Expense	18	21	38	70	75	77	92	112	106	113	116
Research & Development Expense	63	63	46	47	53	60	65	60	25	23	33
Total Other Income / (Expense), net	0.22	0.44	0.89	2.20	2.20	-0.77	-4.81	-3.02	-4.60	-5.83	-3.64
Interest Expense	-	-	-	0.00	0.34	1.35	4.86	3.71	6.87	7.92	7.32
Interest & Investment Income	0.22	0.44	0.89	2.20	2.53	0.58	0.05	0.68	2.27	2.09	3.68
Income Tax Expense	-	-	-	-	0.00	0.00	0.61	0.00	0.00	0.88	-245
Basic Earnings per Share	($0.58)	($0.73)	($0.62)	($0.44)	($0.40)	($0.18)	($0.11)	($3.44)	($1.44)	$0.99	$20.40
Weighted Average Basic Shares Outstanding	88.43M	94.39M	126.32M	160.53M	167.40M	168.75M	170.49M	17.05M	17.40M	17.58M	17.99M
Diluted Earnings per Share	($0.58)	($0.73)	($0.62)	($0.44)	($0.40)	($0.18)	($0.11)	($3.44)	($1.44)	$0.99	$19.48
Weighted Average Diluted Shares Outstanding	88.43M	94.39M	126.32M	160.53M	167.40M	168.75M	170.49M	17.05M	17.40M	17.69M	18.84M
Weighted Average Basic & Diluted Shares Outstanding	88.43M	94.39M	126.32M	160.53M	167.40M	168.75M	171.68M	173.65M	175.38M	17.86M	18.47M

This table shows Rigel Pharmaceuticals' 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	-5.69	0.74	-8.25	-1.03	12	14	11	60	28	268	8.65
Consolidated Net Income / (Loss)	-5.69	0.74	-8.25	-1.03	12	14	11	60	28	268	8.65
Net Income / (Loss) Continuing Operations	-5.69	0.74	-8.25	-1.03	12	14	11	60	28	268	8.65
Total Pre-Tax Income	-5.69	0.74	-8.25	-1.03	12	15	12	60	28	23	12
Total Operating Income	-4.47	1.97	-6.97	0.45	14	17	13	61	28	23	12
Total Gross Profit	27	32	28	34	47	52	49	97	65	64	54
Total Revenue	28	36	30	37	55	58	53	102	69	70	59
Operating Revenue	28	36	30	37	55	58	53	102	69	70	59
Total Cost of Revenue	1.27	3.79	2.03	2.81	8.03	5.79	4.41	4.50	4.75	5.96	4.61
Operating Cost of Revenue	1.27	3.79	2.03	2.81	8.03	5.79	4.41	4.50	4.75	5.96	4.61
Total Operating Expenses	31	30	34	34	33	35	36	36	36	41	42
Selling, General & Admin Expense	25	27	28	28	27	30	28	29	29	30	31
Research & Development Expense	6.48	3.19	6.03	5.54	6.18	5.63	8.44	6.82	7.35	11	12
Total Other Income / (Expense), net	-1.23	-1.23	-1.28	-1.48	-1.64	-1.43	-1.26	-1.12	-0.80	-0.46	-0.23
Interest Expense	1.90	1.91	1.87	2.03	2.06	1.96	1.85	1.87	1.89	1.70	1.43
Interest & Investment Income	0.67	0.68	0.59	0.55	0.43	0.52	0.59	0.75	1.09	1.24	1.21
Income Tax Expense	-	-	0.00	0.00	0.00	-	0.07	0.37	-0.28	-245	3.00
Basic Earnings per Share	($0.33)	$0.04	($0.47)	($0.06)	$0.71	$0.82	$0.64	$3.33	$1.55	$14.90	$0.47
Weighted Average Basic Shares Outstanding	17.44M	17.40M	17.52M	17.55M	17.60M	17.58M	17.81M	17.89M	18.04M	17.99M	18.41M
Diluted Earnings per Share	($0.33)	$0.04	($0.47)	($0.06)	$0.70	$0.82	$0.63	$3.28	$1.46	$14.90	$0.44
Weighted Average Diluted Shares Outstanding	17.44M	17.40M	17.52M	17.55M	17.65M	17.69M	18.17M	18.16M	19.16M	18.84M	19.69M
Weighted Average Basic & Diluted Shares Outstanding	174.37M	175.38M	175.41M	17.59M	17.62M	17.86M	17.87M	17.94M	18.15M	18.47M	18.50M

This table details how cash moves in and out of Rigel Pharmaceuticals' 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	28	-26	21	38	-54	7.85	-11	5.57	8.33	24	-16
Net Cash From Operating Activities	-23	-76	-78	-59	-42	-52	5.88	-74	-5.74	31	76
Net Cash From Continuing Operating Activities	-23	-76	-78	-59	-42	-52	5.88	-74	-5.74	31	76
Net Income / (Loss) Continuing Operations	-51	-69	-78	-70	-67	-30	-18	-59	-25	17	367
Consolidated Net Income / (Loss)	-51	-69	-78	-70	-67	-30	-18	-59	-25	17	367
Depreciation Expense	1.44	0.94	0.47	0.59	0.68	0.71	1.16	1.00	1.24	2.23	2.42
Amortization Expense	0.00	0.12	-0.35	-0.77	-1.07	-0.12	0.29	-0.06	-0.48	-0.71	-1.15
Non-Cash Adjustments To Reconcile Net Income	7.35	8.06	5.75	7.70	9.51	7.30	13	13	9.07	12	13
Changes in Operating Assets and Liabilities, net	19	-16	-5.43	4.12	16	-30	9.72	-29	9.52	0.15	-305
Net Cash From Investing Activities	45	25	-19	25	-24	47	-80	73	-4.30	4.13	-92
Net Cash From Continuing Investing Activities	45	25	-19	25	-24	47	-80	73	-4.30	4.13	-92
Purchase of Property, Plant & Equipment	-0.55	-0.80	-0.16	-1.11	-1.46	-1.26	-0.63	-	0.00	-0.04	0.00
Acquisitions	-	-	-	-	-	-	0.00	0.00	-15	-0.36	0.00
Purchase of Investments	-152	-103	-117	-78	-145	-82	-141	-29	-31	-35	-153
Sale of Property, Plant & Equipment	0.06	0.09	0.73	-	-	0.00	0.00	0.89	0.26	0.10	0.00
Sale and/or Maturity of Investments	197	129	97	104	123	130	62	101	42	40	61
Net Cash From Financing Activities	7.05	25	118	72	11	13	63	6.55	18	-12	0.60
Net Cash From Continuing Financing Activities	7.05	25	118	72	11	13	63	6.55	18	-12	0.60
Repayment of Debt	-	-	-	-	-	-	-	-	0.00	0.00	-7.50
Issuance of Debt	-	-	-	0.00	9.79	9.98	0.00	20	20	0.00	0.00
Issuance of Common Equity	7.05	25	118	72	1.58	2.60	4.78	2.12	1.05	1.96	8.10
Other Financing Activities, net	-	-	-	-	0.00	0.00	58	-15	-2.63	-14	0.00
Cash Interest Paid	-	-	-	0.00	0.14	1.18	1.50	2.50	5.85	7.04	6.57
Cash Income Taxes Paid	-	-	-	-	-	-	-	0.00	0.08	0.33	1.06

This table details how cash moves in and out of Rigel Pharmaceuticals' 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	-3.40	-13	-7.21	10	16	5.05	-11	7.68	-4.87	-7.95	-16
Net Cash From Operating Activities	-1.36	-6.24	-5.01	0.30	22	15	-0.89	31	24	22	2.73
Net Cash From Continuing Operating Activities	-1.36	-6.24	-5.01	0.30	22	15	-0.89	31	24	22	2.73
Net Income / (Loss) Continuing Operations	-5.69	0.74	-8.25	-1.03	12	14	11	60	28	268	8.65
Consolidated Net Income / (Loss)	-5.69	0.74	-8.25	-1.03	12	14	11	60	28	268	8.65
Depreciation Expense	0.29	0.29	0.40	0.61	0.61	0.60	0.60	0.61	0.60	0.60	0.60
Amortization Expense	-0.11	-0.26	-0.21	-0.16	-0.07	-0.28	-0.19	-0.25	-0.47	-0.24	-0.17
Non-Cash Adjustments To Reconcile Net Income	1.92	1.82	5.13	2.53	2.62	2.03	3.32	3.28	3.36	2.75	3.46
Changes in Operating Assets and Liabilities, net	2.23	-8.83	-2.10	-1.65	6.10	-2.20	-16	-33	-7.37	-249	-9.81
Net Cash From Investing Activities	-1.17	-6.87	0.31	11	3.80	-11	-11	-23	-33	-25	-7.98
Net Cash From Continuing Investing Activities	-1.17	-6.87	0.31	11	3.80	-11	-11	-23	-33	-25	-7.98
Purchase of Investments	-9.44	-13	-7.80	-7.55	-2.21	-18	-22	-39	-54	-39	-24
Sale and/or Maturity of Investments	8.25	6.00	8.25	19	6.00	6.75	11	16	21	14	16
Net Cash From Financing Activities	-0.87	0.49	-2.51	-0.75	-9.84	1.47	0.48	0.42	4.27	-4.57	-11
Net Cash From Continuing Financing Activities	-0.87	0.49	-2.51	-0.75	-9.84	1.47	0.48	0.42	4.27	-4.57	-11
Repayment of Debt	-	-	-	-	-	-	0.00	-	-	-	-7.50
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-3.74
Issuance of Common Equity	0.01	0.49	0.09	0.25	0.16	1.47	0.48	0.42	4.27	2.93	0.32
Cash Interest Paid	1.68	1.68	1.68	1.77	1.84	1.75	1.65	1.68	1.68	1.56	1.32

This table presents Rigel Pharmaceuticals' 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	132	78	119	139	148	110	167	134	117	164	514
Total Current Assets	129	76	117	137	119	89	154	116	99	135	240
Cash & Equivalents	43	18	38	76	23	30	19	24	33	57	41
Short-Term Investments	83	57	77	52	76	27	106	34	24	21	114
Accounts Receivable	0.20	-	0.00	4.08	10	16	15	40	31	42	52
Inventories, net	-	-	0.00	0.89	1.35	1.64	6.62	9.12	5.52	6.00	12
Prepaid Expenses	2.55	1.45	1.68	3.48	9.46	14	7.41	8.26	6.26	10	22
Plant, Property, & Equipment, net	1.61	1.16	0.88	1.39	2.16	2.68	2.18	0.86	0.17	0.00	0.00
Total Noncurrent Assets	1.11	0.76	0.80	0.74	26	19	11	18	18	29	273
Goodwill	-	-	-	-	-	-	0.00	15	14	27	25
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	-	0.00	246
Other Noncurrent Operating Assets	1.11	0.76	0.80	0.74	26	19	11	2.57	3.92	1.77	2.83
Total Liabilities & Shareholders' Equity	132	78	119	139	148	110	167	134	117	164	514
Total Liabilities	40	23	18	29	94	76	137	148	146	161	122
Total Current Liabilities	34	23	18	28	58	41	64	65	53	63	99
Short-Term Debt	-	-	-	-	-	-	-	0.00	7.23	7.27	30
Accounts Payable	2.76	5.56	2.64	6.39	4.15	3.71	3.80	23	7.14	3.34	7.19
Accrued Expenses	6.09	6.91	8.36	10	13	16	15	14	8.85	4.07	17
Current Employee Benefit Liabilities	6.25	4.09	7.06	9.95	8.82	9.59	11	8.87	8.68	10	12
Other Current Liabilities	-	-	-	-	7.27	8.62	31	18	20	38	33
Total Noncurrent Liabilities	6.57	0.52	0.13	1.50	36	36	73	83	93	97	23
Long-Term Debt	-	-	-	-	9.81	20	20	39	52	52	22
Other Noncurrent Operating Liabilities	0.03	0.00	0.04	-	5.10	5.05	53	42	40	45	0.40
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	91	55	101	110	54	34	30	-14	-29	3.29	391
Total Preferred & Common Equity	91	55	101	110	54	34	30	-14	-29	3.29	391
Total Common Equity	91	55	101	110	54	34	30	-14	-29	3.29	391
Common Stock	1,083	1,116	1,240	1,319	1,330	1,340	1,354	1,369	1,379	1,393	1,414
Retained Earnings	-992	-1,061	-1,139	-1,209	-1,276	-1,306	-1,324	-1,382	-1,408	-1,390	-1,023
Accumulated Other Comprehensive Income / (Loss)	-0.04	-0.02	-0.08	-0.02	0.02	-0.00	-0.10	-0.15	0.01	0.01	0.18

This table presents Rigel Pharmaceuticals' 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	116	124	117	115	127	128	139	176	207	243	505
Total Current Assets	110	107	101	95	92	95	106	147	175	215	234
Cash & Equivalents	30	40	49	45	26	36	52	46	53	49	24
Short-Term Investments	52	18	16	17	24	13	9.42	31	55	89	122
Accounts Receivable	16	29	21	24	28	29	31	42	40	46	50
Inventories, net	7.12	11	11	6.11	6.58	8.06	4.78	4.66	10	13	12
Prepaid Expenses	6.16	7.87	4.97	3.02	8.85	8.66	9.99	23	17	19	26
Plant, Property, & Equipment, net	1.69	0.29	0.22	0.19	0.14	0.12	0.10	0.08	0.06	0.05	0.00
Total Noncurrent Assets	3.48	16	16	20	34	34	33	29	31	28	271
Goodwill	-	15	14	14	29	28	28	27	26	25	24
Noncurrent Deferred & Refundable Income Taxes	-	-	-	-	-	-	-	-	-	-	243
Other Noncurrent Operating Assets	3.48	1.67	1.54	5.96	5.03	5.30	5.17	2.82	5.36	2.22	3.14
Total Liabilities & Shareholders' Equity	116	124	117	115	127	128	139	176	207	243	505
Total Liabilities	135	148	145	147	158	158	154	157	125	125	105
Total Current Liabilities	47	46	44	48	73	59	54	67	87	94	89
Short-Term Debt	-	-	-	-	15	0.00	0.00	15	22	30	30
Accounts Payable	2.72	6.30	5.24	8.00	9.28	6.13	3.82	3.95	7.29	3.85	4.49
Accrued Expenses	25	12	11	11	9.56	11	14	12	13	14	15
Current Employee Benefit Liabilities	8.77	5.66	6.74	8.09	5.25	6.37	7.92	6.02	7.90	10	6.01
Other Current Liabilities	9.23	20	20	20	33	34	28	28	35	36	34
Total Noncurrent Liabilities	88	102	101	99	85	100	100	91	38	31	15
Long-Term Debt	39	59	60	60	45	60	60	45	37	30	15
Other Noncurrent Operating Liabilities	49	42	41	39	40	40	40	45	0.00	0.00	0.23
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	-20	-24	-28	-32	-32	-30	-15	19	82	118	400
Total Preferred & Common Equity	-20	-24	-28	-32	-32	-30	-15	19	82	118	400
Total Common Equity	-20	-24	-28	-32	-32	-30	-15	19	82	118	400
Common Stock	1,364	1,372	1,375	1,376	1,384	1,387	1,390	1,397	1,401	1,409	1,414
Retained Earnings	-1,384	-1,396	-1,403	-1,408	-1,416	-1,417	-1,404	-1,379	-1,319	-1,291	-1,014
Accumulated Other Comprehensive Income / (Loss)	-0.29	-0.03	-0.03	-0.02	-0.01	-0.01	0.01	-0.00	0.01	0.10	-0.13

This table displays calculated financial ratios and metrics derived from Rigel Pharmaceuticals' 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
DEI Shares Outstanding	88,525,899.00	98,937,197.00	146,491,092.00	166,640,472.00	167,610,502.00	168,981,434.00	171,006,061.00	-	-	-	18,151,344.00
DEI Adjusted Shares Outstanding	8,852,590.00	9,893,720.00	14,649,109.00	16,664,047.00	16,761,050.00	16,898,143.00	17,100,606.00	-	-	-	18,151,344.00
DEI Earnings Per Adjusted Shares Outstanding	-5.81	-7.00	-5.37	-4.23	-3.99	-1.76	-1.05	-	-	-	20.22
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	0.00%	-78.00%	892.62%	33.20%	83.21%	37.39%	-19.43%	-2.79%	53.38%	64.15%
EBITDA Growth	-2,232.43%	-4,873.11%	-15.75%	8.36%	4.63%	59.14%	61.09%	-394.39%	63.87%	230.30%	392.91%
EBIT Growth	0.00%	0.00%	-14.16%	8.71%	4.94%	58.07%	56.87%	-344.54%	63.11%	218.06%	418.63%
NOPAT Growth	0.00%	0.00%	-14.16%	8.71%	4.94%	58.07%	56.87%	-344.54%	63.11%	260.57%	1,541.17%
Net Income Growth	0.00%	0.00%	-13.59%	10.47%	5.09%	55.54%	39.77%	-226.97%	57.16%	169.69%	1,999.08%
EPS Growth	0.00%	0.00%	15.07%	29.03%	9.09%	55.00%	38.89%	-226.97%	57.16%	168.75%	1,867.68%
Operating Cash Flow Growth	66.43%	-224.13%	-2.20%	24.15%	29.44%	-25.72%	111.26%	-1,354.81%	92.21%	647.99%	140.40%
Free Cash Flow Firm Growth	-380.16%	-364.28%	1.03%	21.30%	-9.46%	17.63%	269.53%	-212.53%	75.36%	158.31%	539.74%
Invested Capital Growth	-272.14%	37.96%	22.54%	-23.54%	18.42%	147.07%	-1,131.68%	57.52%	18.19%	44.13%	2,112.26%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-27.47%	2.89%	1.33%	34.54%	-11.70%	13.85%	4.33%
EBITDA Q/Q Growth	0.00%	-6,146.21%	-19,396.36%	-48,795.97%	-39.81%	-4.64%	-26.67%	29.71%	-0.95%	139.68%	5.45%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-40.37%	-5.42%	-26.16%	29.73%	-0.55%	154.57%	5.48%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-40.37%	-5.42%	-26.16%	29.73%	-0.55%	142.36%	220.67%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-43.96%	-7.35%	-23.46%	29.10%	-2.72%	350.53%	223.94%
EPS Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-48.15%	-20.00%	-37.50%	29.10%	-2.72%	350.00%	210.19%
Operating Cash Flow Q/Q Growth	4.90%	1.73%	-10.31%	34.77%	-105.32%	-12.80%	-37.41%	-3.98%	73.18%	193.35%	10.97%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	-848.53%	-18,658.08%	-32.76%	-71.93%	11.92%	-21.65%	52.49%	236.47%	22.38%
Invested Capital Q/Q Growth	0.00%	-6.87%	-26.84%	-53.40%	-100.28%	454.53%	-0.45%	49.36%	24.57%	10.23%	608.72%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	99.36%	98.47%	99.18%	99.27%	98.55%	93.92%	89.60%	93.33%
EBITDA Margin	-174.09%	-336.97%	-1,772.99%	-163.69%	-117.19%	-26.14%	-7.40%	-45.42%	-16.88%	14.34%	43.06%
Operating Margin	-179.07%	-342.15%	-1,775.56%	-163.30%	-116.53%	-26.67%	-8.37%	-46.20%	-17.53%	13.49%	42.63%
EBIT Margin	-179.07%	-342.15%	-1,775.56%	-163.30%	-116.53%	-26.67%	-8.37%	-46.20%	-17.53%	13.49%	42.63%
Profit (Net Income) Margin	-178.11%	-340.01%	-1,755.66%	-158.35%	-112.83%	-27.38%	-12.00%	-48.71%	-21.47%	9.75%	124.72%
Tax Burden Percent	99.89%	100.00%	100.00%	100.00%	100.00%	100.00%	103.50%	100.00%	100.00%	95.20%	301.27%
Interest Burden Percent	99.57%	99.37%	98.88%	96.97%	96.82%	102.66%	138.52%	105.44%	122.45%	75.92%	97.10%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	4.80%	-201.27%
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%	275.43%
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%	293.66%
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%	-89.49%
Return on Equity (ROE)	-46.86%	-94.67%	-101.14%	-66.96%	-81.73%	-67.72%	-55.63%	-699.05%	118.75%	-137.92%	185.94%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-595.52%	0.00%	0.00%	0.00%	0.00%	25.90%
Operating Return on Assets (OROA)	-36.20%	-66.46%	-80.73%	-56.30%	-48.20%	-22.46%	-9.00%	-36.84%	-16.29%	17.21%	37.03%
Return on Assets (ROA)	-36.00%	-66.04%	-79.82%	-54.59%	-46.67%	-23.06%	-12.90%	-38.84%	-19.95%	12.44%	108.34%
Return on Common Equity (ROCE)	-46.86%	-94.67%	-101.14%	-66.96%	-81.73%	-67.72%	-55.63%	-699.05%	118.75%	-137.92%	185.94%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-125.95%	-78.22%	-64.14%	-124.30%	-87.42%	-58.98%	430.18%	87.60%	531.78%	0.00%
Net Operating Profit after Tax (NOPAT)	-36	-49	-56	-51	-48	-20	-8.75	-39	-14	23	378
NOPAT Margin	-125.35%	-239.51%	-1,242.89%	-114.31%	-81.57%	-18.67%	-5.86%	-32.34%	-12.27%	12.85%	128.44%
Net Nonoperating Expense Percent (NNEP)	-11.75%	-20.76%	-24.17%	-16.05%	-18.76%	-19.74%	-13.98%	-32.25%	-144.92%	-75.53%	-18.23%
Return On Investment Capital (ROIC_SIMPLE)	-38.19%	-	-	-	-	-	-	-145.07%	-45.91%	36.58%	85.18%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.64%	1.53%	0.82%	0.73%	1.45%	6.08%	10.40%	6.67%
SG&A Expenses to Revenue	61.65%	102.58%	843.69%	157.28%	125.81%	70.52%	61.57%	93.52%	90.47%	63.06%	39.38%
R&D to Revenue	217.43%	311.27%	1,031.87%	105.38%	89.20%	55.33%	43.71%	50.13%	20.98%	13.04%	11.31%
Operating Expenses to Revenue	278.88%	441.72%	1,875.56%	262.65%	215.01%	125.85%	107.65%	144.74%	111.45%	76.10%	50.70%
Earnings before Interest and Taxes (EBIT)	-52	-70	-80	-73	-69	-29	-12	-56	-20	24	125
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-50	-69	-80	-73	-69	-28	-11	-55	-20	26	127
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.94	4.28	5.65	3.49	6.67	17.38	14.92	0.00	0.00	90.11	1.99
Price to Tangible Book Value (P/TBV)	2.94	4.28	5.65	3.49	6.67	17.38	14.92	0.00	0.00	0.00	2.12
Price to Revenue (P/Rev)	9.28	11.55	126.76	8.61	6.05	5.44	3.04	2.16	2.16	1.65	2.64
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	16.95	2.12
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.90%	47.21%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	78.80	0.00	0.00	0.00	0.00	2.34
Enterprise Value to Revenue (EV/Rev)	5.03	7.90	100.94	5.72	4.89	5.20	2.34	2.01	2.19	1.55	2.29
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	10.84	5.32
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	11.52	5.38
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	12.10	1.79
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	59.35	0.00	0.00	8.85	8.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	4.82	0.00	0.00	23.83	9.02
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.04	0.00	0.00	0.00	0.54	0.90	0.68	-2.97	-2.09	18.15	0.13
Long-Term Debt to Equity	0.04	0.00	0.00	0.00	0.54	0.90	0.68	-2.97	-1.84	15.94	0.06
Financial Leverage	-1.18	-1.35	-1.22	-1.16	-1.21	-1.09	-2.04	-7.28	0.35	0.58	-0.30
Leverage Ratio	1.30	1.43	1.27	1.23	1.75	2.94	4.31	18.00	-5.95	-11.09	1.72
Compound Leverage Factor	1.30	1.42	1.25	1.19	1.70	3.01	5.97	18.98	-7.29	-8.42	1.67
Debt to Total Capital	3.65%	0.43%	0.00%	0.00%	35.05%	47.24%	40.50%	150.80%	191.68%	94.78%	11.78%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	23.14%	11.55%	6.72%
Long-Term Debt to Total Capital	3.65%	0.43%	0.00%	0.00%	35.05%	47.24%	40.50%	150.80%	168.54%	83.23%	5.07%
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	96.35%	99.57%	100.00%	100.00%	64.95%	52.76%	59.50%	-50.80%	-91.68%	5.22%	88.22%
Debt to EBITDA	-0.07	0.00	0.00	0.00	-0.42	-1.07	-1.87	-0.74	-3.04	2.32	0.41
Net Debt to EBITDA	2.44	1.09	0.00	0.00	0.99	0.95	9.44	0.33	-0.15	-0.69	-0.81
Long-Term Debt to EBITDA	-0.07	0.00	0.00	0.00	-0.42	-1.07	-1.87	-0.74	-2.67	2.04	0.18
Debt to NOPAT	-0.10	0.00	0.00	0.00	-0.60	-1.50	-2.36	-1.04	-4.18	2.59	0.14
Net Debt to NOPAT	3.39	1.53	0.00	0.00	1.43	1.32	11.92	0.46	-0.21	-0.77	-0.27
Long-Term Debt to NOPAT	-0.10	0.00	0.00	0.00	-0.60	-1.50	-2.36	-1.04	-3.67	2.28	0.06
Altman Z-Score	-6.76	-14.76	3.91	-4.77	-10.46	-11.28	-7.79	-13.38	-14.88	-8.66	2.74
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	3.82	3.37	6.40	4.94	2.04	2.18	2.43	1.78	1.86	2.13	2.42
Quick Ratio	3.74	3.31	6.31	4.78	1.86	1.79	2.21	1.51	1.64	1.88	2.08
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-13	-61	-60	-47	-52	-43	72	-81	-20	12	75
Operating Cash Flow to CapEx	-4,817.49%	-10,599.02%	0.00%	-5,318.81%	-2,852.92%	-4,135.10%	937.48%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	-154.63	-31.54	14.88	-21.96	-2.92	1.48	10.22
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	-123.91	-38.57	1.21	-19.90	-0.84	3.97	10.34
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-128.25	-39.50	1.08	-19.66	-0.80	3.98	10.34
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.20	0.19	0.05	0.34	0.41	0.84	1.07	0.80	0.93	1.28	0.87
Accounts Receivable Turnover	9.71	0.00	0.00	0.00	8.36	8.33	9.49	4.31	3.30	4.97	6.30
Inventory Turnover	0.00	0.00	0.00	0.00	0.81	0.60	0.26	0.22	0.97	3.24	2.24
Fixed Asset Turnover	14.02	14.72	4.42	39.35	33.44	44.93	61.41	79.08	228.73	1,395.16	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.06	0.17	0.23	0.29	0.13	0.48	3.56	3.73
Days Sales Outstanding (DSO)	37.60	0.00	0.00	0.00	43.67	43.83	38.45	84.68	110.66	73.46	57.91
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	452.83	610.10	1,390.91	1,641.77	375.78	112.79	162.85
Days Payable Outstanding (DPO)	0.00	0.00	0.00	5,740.17	2,123.73	1,602.53	1,264.19	2,744.60	761.06	102.58	97.94
Cash Conversion Cycle (CCC)	37.60	0.00	0.00	-5,740.17	-1,627.23	-948.61	165.18	-1,018.15	-274.62	83.67	122.81
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-31	-20	-15	-19	-15	7.17	-74	-31	-26	-14	289
Invested Capital Turnover	-1.45	-0.80	-0.26	-2.64	-3.50	-26.96	-4.47	-2.28	-4.09	-8.95	2.14
Increase / (Decrease) in Invested Capital	-23	12	4.40	-3.56	3.44	22	-81	43	5.71	11	303
Enterprise Value (EV)	145	161	453	255	290	565	349	241	256	279	675
Market Capitalization	268	235	568	383	359	591	453	259	253	296	777
Book Value per Share	$1.03	$0.56	$0.69	$0.66	$0.32	$0.20	$0.18	($0.08)	($0.16)	$0.19	$21.57
Tangible Book Value per Share	$1.03	$0.56	$0.69	$0.66	$0.32	$0.20	$0.18	($0.17)	($0.24)	($1.35)	$20.20
Total Capital	95	55	101	110	83	64	51	27	31	63	444
Total Debt	3.46	0.24	0.00	0.00	29	30	21	40	60	60	52
Total Long-Term Debt	3.46	0.24	0.00	0.00	29	30	21	40	53	52	22
Net Debt	-123	-75	-116	-129	-69	-27	-104	-18	2.95	-18	-103
Capital Expenditures (CapEx)	0.49	0.72	-0.57	1.11	1.46	1.26	0.63	-0.89	-0.26	-0.06	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-31	-21	-17	-19	-37	-9.19	-34	-7.51	-3.71	1.76	16
Debt-free Net Working Capital (DFNWC)	95	54	99	109	61	48	91	51	53	79	171
Net Working Capital (NWC)	95	54	99	109	61	48	91	51	46	72	141
Net Nonoperating Expense (NNE)	15	20	23	20	19	9.46	9.17	20	11	5.55	11
Net Nonoperating Obligations (NNO)	-123	-75	-116	-129	-69	-27	-104	-18	2.95	-18	-103
Total Depreciation and Amortization (D&A)	1.44	1.06	0.12	-0.17	-0.39	0.58	1.45	0.94	0.76	1.52	1.27
Debt-free, Cash-free Net Working Capital to Revenue	-107.45%	-103.71%	-371.43%	-43.33%	-62.89%	-8.46%	-22.82%	-6.25%	-3.17%	0.98%	5.36%
Debt-free Net Working Capital to Revenue	329.57%	263.09%	2,209.99%	245.46%	102.54%	44.32%	60.92%	42.16%	45.54%	44.11%	58.02%
Net Working Capital to Revenue	329.57%	263.09%	2,209.99%	245.46%	102.54%	44.32%	60.92%	42.16%	39.36%	40.05%	47.89%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$0.00	($4.40)	($4.00)	($1.80)	($1.10)	($3.40)	($1.40)	$0.99	$20.40
Adjusted Weighted Average Basic Shares Outstanding	9.06M	12.23M	14.71M	16.72M	16.86M	17.00M	17.05M	17.24M	17.40M	17.58M	17.99M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$0.00	($4.40)	($4.00)	($1.80)	($1.10)	($3.40)	($1.40)	$0.99	$19.48
Adjusted Weighted Average Diluted Shares Outstanding	9.06M	12.23M	14.71M	16.72M	16.86M	17.00M	17.05M	17.24M	17.40M	17.69M	18.84M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	($4.40)	($4.00)	($1.80)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	9.06M	12.23M	14.71M	16.05M	16.74M	16.88M	17.17M	17.37M	17.54M	17.86M	18.47M
Normalized Net Operating Profit after Tax (NOPAT)	-36	-45	-56	-51	-48	-20	-6.28	-38	-14	23	88
Normalized NOPAT Margin	-125.49%	-219.99%	-1,242.89%	-114.31%	-81.57%	-18.67%	-4.21%	-31.57%	-12.27%	12.85%	29.84%
Pre Tax Income Margin	-178.30%	-340.01%	-1,755.66%	-158.35%	-112.83%	-27.38%	-11.60%	-48.71%	-21.47%	10.24%	41.40%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	-206.24	-21.41	-2.57	-14.99	-2.98	3.06	17.14
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	-144.37	-14.99	-1.80	-10.49	-2.09	2.91	51.64
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-210.59	-22.35	-2.70	-14.74	-2.94	3.06	17.14
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	-148.71	-15.92	-1.93	-10.25	-2.05	2.92	51.64
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%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Rigel Pharmaceuticals' 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	-	-	-	-	-	-	17,862,958.00	17,872,432.00	17,937,340.00	18,151,344.00	18,473,130.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	17,862,958.00	17,872,432.00	17,937,340.00	18,151,344.00	18,473,130.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	0.64	3.34	1.56	14.77	0.47
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	25.54%	-30.20%	13.29%	37.03%	96.58%	60.92%	80.58%	176.01%	25.59%	21.19%	10.28%
EBITDA Growth	76.43%	-8.47%	45.55%	117.96%	441.23%	749.57%	294.76%	6,721.31%	95.62%	38.54%	-6.64%
EBIT Growth	75.74%	-5.44%	45.26%	108.49%	414.80%	747.15%	283.36%	13,569.57%	102.19%	39.12%	-6.95%
NOPAT Growth	75.74%	-5.44%	45.26%	108.49%	549.72%	747.15%	360.47%	19,307.83%	104.24%	1,642.69%	-30.53%
Net Income Growth	70.10%	-47.39%	39.07%	84.39%	318.22%	1,845.86%	238.79%	5,887.67%	124.62%	1,769.22%	-24.39%
EPS Growth	70.10%	-47.39%	37.50%	84.21%	312.12%	1,950.00%	234.04%	5,566.67%	108.57%	1,717.07%	-30.16%
Operating Cash Flow Growth	89.78%	71.52%	-23.05%	-94.91%	1,695.22%	332.42%	82.19%	10,011.59%	10.85%	51.55%	405.15%
Free Cash Flow Firm Growth	-27.02%	90.74%	89.36%	63.30%	87.08%	241.96%	-77.82%	157.95%	-598.01%	-782.71%	-2,556.96%
Invested Capital Growth	45.07%	18.19%	5.31%	40.12%	53.06%	44.13%	109.70%	276.37%	354.89%	2,112.26%	14,244.03%
Revenue Q/Q Growth	4.64%	27.22%	-17.48%	24.74%	50.12%	4.14%	-7.40%	90.66%	-31.69%	0.49%	-15.74%
EBITDA Q/Q Growth	14.73%	146.73%	-438.72%	113.31%	1,520.20%	16.34%	-22.35%	366.07%	-53.54%	-17.61%	-47.67%
EBIT Q/Q Growth	15.23%	144.03%	-454.32%	106.42%	3,044.52%	18.49%	-23.31%	378.38%	-53.49%	-18.47%	-48.71%
NOPAT Q/Q Growth	15.23%	162.90%	-348.03%	106.42%	4,392.17%	18.49%	-19.06%	378.13%	-52.73%	852.51%	-96.77%
Net Income Q/Q Growth	13.76%	112.95%	-1,219.00%	87.51%	1,305.92%	15.46%	-20.19%	420.82%	-53.20%	860.81%	-96.77%
EPS Q/Q Growth	13.76%	112.95%	0.00%	-20.00%	1,266.67%	17.14%	-23.17%	420.63%	-55.49%	920.55%	-97.05%
Operating Cash Flow Q/Q Growth	-122.92%	-359.16%	19.66%	106.02%	7,078.48%	-33.10%	-106.16%	3,519.60%	-21.31%	-8.53%	-87.60%
Free Cash Flow Firm Q/Q Growth	9.74%	87.94%	-62.26%	-107.84%	68.21%	232.42%	-348.23%	167.74%	-482.89%	-6.04%	-866.07%
Invested Capital Q/Q Growth	-5.55%	24.57%	16.58%	9.83%	17.26%	10.23%	114.48%	1,540.13%	19.57%	608.72%	3.20%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	95.49%	89.41%	93.14%	92.38%	85.49%	89.95%	91.73%	95.57%	93.16%	91.47%	92.17%
EBITDA Margin	-15.21%	5.59%	-22.93%	2.45%	26.39%	29.49%	24.73%	60.44%	41.11%	33.71%	20.93%
Operating Margin	-15.87%	5.49%	-23.59%	1.21%	25.41%	28.92%	23.95%	60.09%	40.91%	33.19%	20.21%
EBIT Margin	-15.87%	5.49%	-23.59%	1.21%	25.41%	28.92%	23.95%	60.09%	40.91%	33.19%	20.21%
Profit (Net Income) Margin	-20.23%	2.06%	-27.92%	-2.80%	22.46%	24.90%	21.46%	58.63%	40.17%	384.04%	14.71%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	94.21%	99.44%	99.38%	101.01%	1,180.18%	74.24%
Interest Burden Percent	127.48%	37.49%	118.39%	-230.43%	88.37%	91.40%	90.12%	98.17%	97.19%	98.03%	98.08%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.56%	0.62%	-1.01%	-1,080.18%	25.76%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2,168.38%	941.53%	840.06%	29.96%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2,174.36%	943.59%	849.01%	30.25%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-1,557.50%	-716.67%	-258.73%	-8.55%
Return on Equity (ROE)	94.55%	118.75%	70.81%	49.05%	-16.70%	-137.92%	-567.43%	610.88%	224.86%	581.33%	21.41%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	930.31%	146.10%	150.02%	25.90%	50.66%
Operating Return on Assets (OROA)	-18.19%	5.11%	-22.70%	1.29%	31.42%	36.87%	32.16%	96.08%	60.43%	28.83%	17.80%
Return on Assets (ROA)	-23.19%	1.91%	-26.87%	-2.97%	27.77%	31.75%	28.82%	93.73%	59.33%	333.59%	12.96%
Return on Common Equity (ROCE)	94.55%	118.75%	70.81%	49.05%	-16.70%	-137.92%	-567.43%	610.88%	224.86%	581.33%	21.41%
Return on Equity Simple (ROE_SIMPLE)	76.73%	0.00%	62.52%	47.58%	-26.52%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-3.13	1.97	-4.88	0.31	14	17	13	61	29	273	8.82
NOPAT Margin	-11.11%	5.49%	-16.51%	0.85%	25.41%	28.92%	23.81%	59.72%	41.33%	391.75%	15.00%
Net Nonoperating Expense Percent (NNEP)	-11.56%	-16.57%	56.82%	41.74%	-91.39%	-31.51%	-40.16%	-5.98%	-2.07%	-8.95%	-0.29%
Return On Investment Capital (ROIC_SIMPLE)	-	6.29%	-	-	-	26.45%	16.04%	42.63%	16.14%	61.62%	1.98%
Cost of Revenue to Revenue	4.51%	10.59%	6.86%	7.62%	14.51%	10.05%	8.27%	4.43%	6.84%	8.53%	7.83%
SG&A Expenses to Revenue	88.35%	75.02%	96.33%	76.13%	48.90%	51.25%	51.97%	28.77%	41.66%	42.97%	52.11%
R&D to Revenue	23.01%	8.90%	20.40%	15.04%	11.18%	9.78%	15.82%	6.71%	10.59%	15.31%	19.85%
Operating Expenses to Revenue	111.36%	83.92%	116.73%	91.17%	60.07%	61.03%	67.78%	35.48%	52.24%	58.27%	71.96%
Earnings before Interest and Taxes (EBIT)	-4.47	1.97	-6.97	0.45	14	17	13	61	28	23	12
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-4.28	2.00	-6.77	0.90	15	17	13	61	29	24	12
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	0.00	0.00	0.00	90.11	17.31	4.09	4.32	1.99	1.25
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.98	5.51	2.12	1.33
Price to Revenue (P/Rev)	1.42	2.16	2.16	1.11	1.81	1.65	1.58	1.25	1.80	2.64	1.67
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	73.35	16.95	8.64	3.42	4.49	2.12	1.37
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	1.36%	5.90%	11.57%	29.22%	22.30%	47.21%	72.92%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	0.00	146.71	8.42	10.58	2.34	1.33
Enterprise Value to Revenue (EV/Rev)	1.41	2.19	2.24	1.19	1.80	1.55	1.50	1.07	1.53	2.29	1.33
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	26.41	10.84	6.68	2.70	3.59	5.32	3.16
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	29.82	11.52	6.94	2.74	3.63	5.38	3.19
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	29.82	12.10	7.12	2.78	3.66	1.79	1.07
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	26.41	8.85	8.57	4.36	6.33	8.92	5.02
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	23.83	15.77	5.76	7.06	9.02	5.23
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-1.89	-2.09	-1.89	-2.00	-4.08	18.15	3.26	0.74	0.51	0.13	0.11
Long-Term Debt to Equity	-1.89	-1.84	-1.42	-2.00	-4.08	15.94	2.47	0.47	0.26	0.06	0.04
Financial Leverage	0.86	0.35	-0.21	-0.11	0.08	0.58	0.48	-0.72	-0.76	-0.30	-0.28
Leverage Ratio	-4.47	-5.95	-4.47	-4.23	-5.48	-11.09	-23.08	6.44	3.71	1.72	1.63
Compound Leverage Factor	-5.70	-2.23	-5.29	9.75	-4.84	-10.14	-20.80	6.32	3.60	1.68	1.60
Debt to Total Capital	212.52%	191.68%	212.63%	200.46%	132.43%	94.78%	76.55%	42.49%	33.89%	11.78%	10.09%
Short-Term Debt to Total Capital	0.00%	23.14%	52.56%	0.00%	0.00%	11.55%	18.71%	15.70%	16.73%	6.72%	6.72%
Long-Term Debt to Total Capital	212.52%	168.54%	160.07%	200.46%	132.43%	83.23%	57.84%	26.79%	17.16%	5.07%	3.37%
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	-112.52%	-91.68%	-112.63%	-100.46%	-32.43%	5.22%	23.45%	57.51%	66.11%	88.22%	89.91%
Debt to EBITDA	-3.08	-3.04	-4.25	-7.33	5.57	2.32	1.33	0.57	0.50	0.41	0.36
Net Debt to EBITDA	0.11	-0.15	-0.73	-1.30	-0.13	-0.69	-0.36	-0.45	-0.64	-0.81	-0.81
Long-Term Debt to EBITDA	-3.08	-2.67	-3.20	-7.33	5.57	2.04	1.00	0.36	0.25	0.18	0.12
Debt to NOPAT	-4.22	-4.18	-5.80	-9.46	6.29	2.59	1.41	0.59	0.51	0.14	0.12
Net Debt to NOPAT	0.16	-0.21	-0.99	-1.68	-0.14	-0.77	-0.38	-0.46	-0.65	-0.27	-0.27
Long-Term Debt to NOPAT	-4.22	-3.67	-4.36	-9.46	6.29	2.28	1.07	0.37	0.26	0.06	0.04
Altman Z-Score	-14.82	-14.25	-13.73	-13.54	-11.08	-8.81	-7.80	-4.54	-2.87	2.08	1.06
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	1.97	1.86	1.26	1.62	1.96	2.13	2.20	2.02	2.28	2.42	2.62
Quick Ratio	1.78	1.64	1.05	1.33	1.69	1.88	1.78	1.71	1.94	2.08	2.20
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-31	-3.75	-6.08	-13	-4.02	5.32	-11	7.32	-28	-30	-287
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-16.36	-1.96	-3.24	-6.23	-1.95	2.72	-5.83	3.91	-14.80	-17.50	-200.40
Operating Cash Flow to Interest Expense	-0.72	-3.27	-2.68	0.15	10.52	7.42	-0.48	16.30	12.69	12.94	1.90
Operating Cash Flow Less CapEx to Interest Expense	-0.70	-3.21	-2.68	0.15	10.54	7.44	-0.48	16.30	12.69	12.94	1.90
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.15	0.93	0.96	1.06	1.24	1.28	1.34	1.60	1.48	0.87	0.88
Accounts Receivable Turnover	6.78	3.30	4.23	5.24	5.82	4.97	5.88	7.79	7.37	6.30	6.55
Inventory Turnover	0.55	0.97	0.92	1.05	3.06	3.24	3.74	2.46	2.15	2.24	2.43
Fixed Asset Turnover	140.52	228.73	554.59	789.70	1,089.79	1,395.16	1,880.34	3,115.36	3,687.27	0.00	0.00
Accounts Payable Turnover	0.68	0.48	1.05	1.74	2.82	3.56	3.18	3.39	5.08	3.73	4.70
Days Sales Outstanding (DSO)	53.87	110.66	86.25	69.64	62.72	73.46	62.06	46.87	49.49	57.91	55.70
Days Inventory Outstanding (DIO)	659.23	375.78	394.98	347.67	119.45	112.79	97.52	148.41	169.67	162.85	150.20
Days Payable Outstanding (DPO)	534.24	761.06	348.33	209.81	129.51	102.58	114.81	107.76	71.86	97.94	77.72
Cash Conversion Cycle (CCC)	178.86	-274.62	132.90	207.50	52.66	83.67	44.78	87.52	147.30	122.81	128.18
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-34	-26	-21	-19	-16	-14	2.08	34	41	289	298
Invested Capital Turnover	-2.76	-4.09	-5.46	-5.05	-6.29	-8.95	-20.99	36.31	22.78	2.14	2.00
Increase / (Decrease) in Invested Capital	28	5.71	1.20	13	18	11	24	53	57	303	296
Enterprise Value (EV)	186	256	270	155	283	279	305	287	431	675	398
Market Capitalization	188	253	260	144	285	296	321	335	508	777	500
Book Value per Share	($0.18)	($0.16)	($0.18)	($0.17)	($0.83)	$0.19	$1.04	$4.58	$6.56	$21.57	$21.65
Tangible Book Value per Share	($0.26)	($0.24)	($0.35)	($0.33)	($2.41)	($1.35)	($0.44)	$3.13	$5.14	$20.20	$20.34
Total Capital	28	31	28	30	45	63	79	142	178	444	445
Total Debt	60	60	60	60	60	60	61	61	60	52	45
Total Long-Term Debt	60	53	45	60	60	52	46	38	31	22	15
Net Debt	-2.23	2.95	10	11	-1.35	-18	-16	-48	-77	-103	-102
Capital Expenditures (CapEx)	-0.02	-0.11	0.00	0.00	-0.03	-0.05	0.00	0.00	0.00	-0.01	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-16	-3.71	-15	-13	-8.96	1.76	18	2.74	13	16	28
Debt-free Net Working Capital (DFNWC)	47	53	34	36	52	79	95	111	150	171	174
Net Working Capital (NWC)	47	46	19	36	52	72	80	89	121	141	145
Net Nonoperating Expense (NNE)	2.57	1.23	3.37	1.34	1.64	2.31	1.25	1.11	0.81	5.38	0.17
Net Nonoperating Obligations (NNO)	-2.23	2.95	10	11	-1.35	-18	-16	-48	-77	-103	-102
Total Depreciation and Amortization (D&A)	0.19	0.03	0.20	0.45	0.54	0.33	0.41	0.36	0.14	0.36	0.43
Debt-free, Cash-free Net Working Capital to Revenue	-11.79%	-3.17%	-12.86%	-10.00%	-5.69%	0.98%	8.69%	1.02%	4.66%	5.36%	9.25%
Debt-free Net Working Capital to Revenue	35.32%	45.54%	28.31%	27.69%	33.12%	44.11%	46.66%	41.47%	53.28%	58.02%	58.18%
Net Working Capital to Revenue	35.32%	39.36%	16.03%	27.69%	33.12%	40.05%	39.36%	33.13%	42.73%	47.89%	48.22%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.30)	$0.40	($0.50)	($0.06)	$0.71	$0.82	$0.64	$3.33	$1.55	$14.90	$0.47
Adjusted Weighted Average Basic Shares Outstanding	17.44M	1.74M	17.52M	17.55M	17.60M	17.58M	17.81M	17.89M	18.04M	17.99M	18.41M
Adjusted Diluted Earnings per Share	($0.30)	$0.40	($0.50)	($0.06)	$0.70	$0.82	$0.63	$3.28	$1.46	$14.90	$0.44
Adjusted Weighted Average Diluted Shares Outstanding	17.44M	1.74M	17.52M	17.55M	17.65M	17.69M	18.17M	18.16M	19.16M	18.84M	19.69M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.40	$0.00	$0.00	$0.00	$0.82	$0.00	$0.00	$0.00	$14.90	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	17.44M	17.54M	17.54M	17.59M	17.62M	17.86M	17.87M	17.94M	18.15M	18.47M	18.50M
Normalized Net Operating Profit after Tax (NOPAT)	-3.13	1.38	-4.88	0.31	9.84	12	13	61	20	16	8.82
Normalized NOPAT Margin	-11.11%	3.85%	-16.51%	0.85%	17.79%	20.24%	23.81%	59.72%	28.64%	23.24%	15.00%
Pre Tax Income Margin	-20.23%	2.06%	-27.92%	-2.80%	22.46%	26.43%	21.58%	58.99%	39.76%	32.54%	19.82%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-2.35	1.03	-3.72	0.22	6.82	8.52	6.89	32.61	15.01	13.64	8.29
NOPAT to Interest Expense	-1.65	1.03	-2.60	0.15	6.82	8.52	6.85	32.41	15.16	160.95	6.16
EBIT Less CapEx to Interest Expense	-2.34	1.09	-3.72	0.22	6.84	8.54	6.89	32.61	15.01	13.64	8.29
NOPAT Less CapEx to Interest Expense	-1.63	1.09	-2.60	0.15	6.84	8.54	6.85	32.41	15.16	160.95	6.16
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%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Rigel Pharmaceuticals’ latest quarter shows a sharp improvement in profitability and cash generation versus the prior year, but the balance sheet still reflects a highly leveraged, volatile biotech profile.

Q1 2026 revenue surged to $58.8 million, up from $29.5 million in Q1 2024 and above recent low- and mid-year 2025 quarters, showing strong top-line momentum.
Net income reached $8.7 million in Q1 2026, compared with a loss of $8.2 million in Q1 2024, marking a meaningful turnaround in bottom-line performance.
Operating income improved to $11.9 million in Q1 2026, versus an operating loss of $6.0 million in Q1 2024, suggesting the business is now generating profit before interest and taxes.
Gross margin remains very strong: Q1 2026 gross profit was $54.2 million on $58.8 million of revenue, leaving cost of revenue at just $4.6 million.
Operating cash flow was positive at $2.7 million in Q1 2026, a major improvement from the negative operating cash flow posted in Q1 2025 and Q1 2024.
Cash and short-term investments remain sizable, with $24.4 million in cash and $122.3 million in short-term investments at March 31, 2026.
The company appears to be using capital opportunistically, with investment purchases and sales both active, while still maintaining a large liquid asset base.
EPS was $0.47 basic and $0.44 diluted in Q1 2026, indicating profitability on both metrics, though share count dilution remains something to watch.
Revenue and earnings are still volatile quarter to quarter, which is common for biotech companies but makes trend-following more difficult for retail investors.
Liabilities remain meaningful at $104.7 million, including $29.9 million of short-term debt and $15.0 million of long-term debt, so the balance sheet is not debt-free.
Shareholders’ equity is heavily impacted by accumulated losses; retained earnings were still deeply negative at $1.01 billion in Q1 2026, reflecting a long history of losses.
Cash declined by $16.2 million in Q1 2026 because investing and financing outflows exceeded operating cash generation, even though operations were positive.

Over the last four years, the biggest takeaway is the turnaround in operating performance. Rigel moved from consistent losses in 2022 and early 2024 to much stronger profitability in 2025 and Q1 2026. Revenue expanded meaningfully, operating margins improved, and the company is now producing positive operating cash flow.

That said, investors should keep one eye on balance-sheet risk. Rigel still carries debt, has a history of negative retained earnings, and its results can swing significantly from quarter to quarter. For retail investors, the story here looks more constructive than it did a year ago, but it remains a biotech company with a still-sensitive financial profile.

07/05/26 05:21 AM ETAI Generated. May Contain Errors.

Rigel Pharmaceuticals Financials - Frequently Asked Questions

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

Rigel Pharmaceuticals' net income appears to be on a downward trend, with a most recent value of $367.02 million in 2025, falling from -$51.46 million in 2015. The previous period was $17.49 million in 2024. See Rigel Pharmaceuticals' forecast for analyst expectations on what's next for the company.

Rigel Pharmaceuticals' total operating income in 2025 was $125.47 million, based on the following breakdown:

Total Gross Profit: $274.66 million
Total Operating Expenses: $149.20 million

Over the last 10 years, Rigel Pharmaceuticals' total revenue changed from $28.90 million in 2015 to $294.28 million in 2025, a change of 918.5%.

Rigel Pharmaceuticals' total liabilities were at $122.11 million at the end of 2025, a 24.0% decrease from 2024, and a 202.5% increase since 2015.

In the past 10 years, Rigel Pharmaceuticals' cash and equivalents has ranged from $17.63 million in 2016 to $76.32 million in 2018, and is currently $40.58 million as of their latest financial filing in 2025.

Over the last 10 years, Rigel Pharmaceuticals' book value per share changed from 1.03 in 2015 to 21.57 in 2025, a change of 1,989.3%.

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Financial statements for NASDAQ:RIGL last updated on 6/26/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Rigel Pharmaceuticals (RIGL) Financials

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Rigel Pharmaceuticals (RIGL) Financials

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