Royalty Pharma (RPRX) Financials

$49.78 -0.94 (-1.85%)

As of 12:31 PM Eastern

Annual Income Statements for Royalty Pharma

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	1,378	2,349	975	620	43	1,135	859	771
Consolidated Net Income / (Loss)	1,518	2,461	1,702	1,241	230	1,700	1,331	1,324
Net Income / (Loss) Continuing Operations	1,518	2,461	1,702	1,241	230	1,700	1,331	1,324
Total Pre-Tax Income	1,518	2,461	1,702	1,241	230	1,700	1,331	1,324
Total Operating Income	1,364	2,623	1,595	1,431	307	1,492	1,292	1,560
Total Gross Profit	1,795	1,814	2,122	2,289	2,237	2,355	2,264	2,378
Total Revenue	1,795	1,814	2,122	2,289	2,237	2,355	2,264	2,378
Operating Revenue	1,795	1,814	2,122	2,289	2,237	2,355	2,264	2,378
Total Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Operating Expenses	430	-809	527	859	1,930	862	971	819
Selling, General & Admin Expense	62	103	182	183	227	250	237	573
Research & Development Expense	393	83	26	200	177	52	2.00	452
Other Operating Expenses / (Income)	-57	-1,019	231	453	904	561	732	-207
Total Other Income / (Expense), net	153	-162	107	-190	-77	208	38	-235
Interest Expense	280	269	157	166	188	187	226	308
Interest & Investment Income	17	-10	73	34	69	101	77	63
Other Income / (Expense), net	416	117	191	-57	42	294	187	9.66
Income Tax Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	140	113	727	621	187	565	472	553
Basic Earnings per Share	$0.00	$0.00	$1.32	$1.49	$0.10	$2.54	$1.92	$1.79
Weighted Average Basic Shares Outstanding	0.00	0.00	375.44M	414.79M	437.96M	447.60M	448.19M	429.80M
Diluted Earnings per Share	$0.00	$0.00	$1.32	$1.49	$0.10	$2.53	$1.91	$1.78
Weighted Average Diluted Shares Outstanding	0.00	0.00	375.46M	414.80M	437.97M	602.90M	594.11M	564.46M
Weighted Average Basic & Diluted Shares Outstanding	-	-	607.11M	607.18M	607.22M	597.43M	576.45M	576.86M
Cash Dividends to Common per Share	-	-	$0.15	$0.68	$0.76	$0.80	$0.84	$0.88

This table shows Royalty Pharma'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	72	494	4.78	102	544	208	239	30	288	214	295
Consolidated Net Income / (Loss)	122	718	-4.27	194	806	334	434	91	444	356	468
Net Income / (Loss) Continuing Operations	122	718	-4.27	194	806	334	434	91	444	356	468
Total Pre-Tax Income	122	718	-4.27	194	806	334	434	91	444	356	468
Total Operating Income	151	613	-74	270	735	362	534	210	427	388	563
Total Gross Profit	536	596	568	537	565	594	568	579	609	622	631
Total Revenue	536	596	568	537	565	594	568	579	609	622	631
Operating Revenue	536	596	568	537	565	594	568	579	609	622	631
Total Cost of Revenue	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Total Operating Expenses	385	-17	642	268	-170	232	34	369	182	234	68
Selling, General & Admin Expense	57	59	58	55	57	68	111	180	119	164	159
Research & Development Expense	51	0.50	0.50	0.50	0.50	0.50	51	301	51	51	40
Other Operating Expenses / (Income)	277	-77	584	212	-228	164	-127	-111	13	19	-201
Impairment Charge	-	-	-	-	-	-	0.00	-	-	-	69
Total Other Income / (Expense), net	-29	105	70	-75	71	-27	-100	-119	17	-32	-95
Interest Expense	46	47	44	49	67	66	65	69	80	94	94
Interest & Investment Income	18	6.77	-6.73	15	28	41	18	11	23	11	28
Other Income / (Expense), net	-1.55	145	120	-41	110	-2.09	-52	-62	74	51	-29
Income Tax Expense	0.00	-	0.00	0.00	0.00	-	0.00	0.00	0.00	-	0.00
Net Income / (Loss) Attributable to Noncontrolling Interest	50	223	-9.05	92	262	126	195	60	156	142	174
Basic Earnings per Share	$0.16	$1.11	$0.01	$0.23	$1.22	$0.46	$0.55	$0.07	$0.67	$0.50	$0.67
Weighted Average Basic Shares Outstanding	448.44M	447.60M	448.62M	451.02M	447.63M	448.19M	435.48M	423.51M	431.89M	429.80M	436.79M
Diluted Earnings per Share	$0.16	$1.11	$0.01	$0.23	$1.21	$0.46	$0.55	$0.07	$0.67	$0.49	$0.67
Weighted Average Diluted Shares Outstanding	601.14M	602.90M	597.48M	596.91M	592.73M	594.11M	578.10M	562.30M	559.61M	564.46M	556.84M
Weighted Average Basic & Diluted Shares Outstanding	597.43M	597.43M	597.44M	593.46M	589.18M	576.45M	562.24M	583.17M	577.24M	576.86M	575.83M
Cash Dividends to Common per Share	-	-	$0.21	$0.21	$0.21	-	$0.22	$0.22	$0.22	-	$0.24

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	543	-1,678	762	532	170	-1,234	452	-310
Net Cash From Operating Activities	1,618	1,667	2,035	2,018	2,144	2,988	2,769	2,490
Net Cash From Continuing Operating Activities	1,618	1,647	2,027	2,014	2,144	2,988	2,771	2,501
Net Income / (Loss) Continuing Operations	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Non-Cash Adjustments To Reconcile Net Income	1,615	1,647	2,035	2,014	2,144	2,988	2,771	2,501
Net Cash From Investing Activities	303	-2,154	-2,759	-1,870	-1,029	-2,073	-2,678	-1,614
Net Cash From Continuing Investing Activities	303	-2,154	-2,759	-1,870	-1,029	-2,073	-2,777	-1,649
Acquisitions	-24	-27	-40	-35	-9.90	-13	-11	-74
Purchase of Investments	-422	-2,743	-3,938	-3,594	-2,565	-2,116	-2,736	-1,931
Sale and/or Maturity of Investments	750	875	834	1,777	1,334	70	43	637
Other Investing Activities, net	0.00	-259	385	-19	211	-14	-73	-280
Net Cash From Financing Activities	-1,379	-1,192	1,487	385	-945	-2,149	361	-1,186
Net Cash From Continuing Financing Activities	-1,379	-1,192	1,487	385	-945	-2,154	361	-1,186
Repayment of Debt	-296	-294	-11,257	-13	-1.35	-1,352	-22	-2,293
Repurchase of Common Equity	0.00	-4.27	-	0.00	0.00	-305	-230	-1,227
Payment of Dividends	-1,083	-893	-1,123	-919	-951	-855	-864	-901
Issuance of Debt	0.00	0.00	11,891	1,273	0.00	350	1,471	3,229
Other Financing Activities, net	0.00	0.00	67	44	7.19	7.48	5.11	5.92

This table details how cash moves in and out of Royalty Pharma'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	-1,237	-459	366	922	-815	-21	159	-456	577	-590	-32
Net Cash From Operating Activities	574	773	665	658	704	743	596	364	703	827	718
Net Cash From Continuing Operating Activities	574	773	658	665	704	743	596	376	972	568	712
Net Income / (Loss) Continuing Operations	-	-	0.00	-	-	-	0.00	-	-	-	0.00
Non-Cash Adjustments To Reconcile Net Income	574	773	658	665	704	743	596	376	972	568	712
Net Cash From Investing Activities	-451	-1,000	-87	-893	-1,193	-506	504	-312	-958	-848	-478
Net Cash From Continuing Investing Activities	-451	-1,000	-87	-893	-1,193	-506	504	-312	-958	-883	-478
Purchase of Investments	-451	-1,002	-86	-947	-1,207	-496	-5.48	-76	-962	-888	-475
Sale and/or Maturity of Investments	4.46	6.10	6.41	6.82	113	-83	559	66	3.79	7.87	47
Other Investing Activities, net	-	-2.04	0.00	51	-99	74	-50	-228	-	-2.71	-50
Net Cash From Financing Activities	-1,359	-232	-212	1,157	-326	-258	-941	-508	563	-300	-273
Net Cash From Continuing Financing Activities	-1,259	-522	-212	1,336	-224	-539	-941	-508	563	-300	-273
Repayment of Debt	-1,000	-352	-	-	-3.09	-0.30	0.00	-	-2,289	-4.81	-0.23
Repurchase of Common Equity	-140	-30	0.00	-	-97	-53	-709	-292	-146	-81	-50
Payment of Dividends	-121	-491	-213	-38	-125	-487	-234	-221	-232	-214	-222
Other Financing Activities, net	1.75	1.11	1.43	1.17	1.26	1.25	1.30	4.82	-0.20	-	0.00
Cash Interest Received	-	-	6.43	-	-	-	-	-	-	-	6.50

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	12,450	16,020	17,516	16,813	16,382	18,223	19,621
Total Current Assets	832	2,697	2,878	2,555	1,274	1,802	1,528
Cash & Equivalents	246	1,009	1,541	1,711	477	929	619
Short-Term Investments	94	1,053	648	26	18	58	19
Note & Lease Receivable	453	587	614	691	738	784	854
Other Current Assets	39	48	75	127	40	31	36
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	11,618	13,323	14,638	14,259	15,108	16,421	18,093
Long-Term Investments	255	618	640	623	813	1,073	709
Noncurrent Note & Lease Receivables	10,842	12,368	13,718	13,493	14,089	15,127	16,208
Goodwill	-	-	-	-	-	0.00	925
Other Noncurrent Operating Assets	469	309	274	142	206	220	251
Total Liabilities & Shareholders' Equity	12,450	16,020	17,516	16,813	16,382	18,223	19,621
Total Liabilities	6,308	6,124	7,267	7,288	6,298	7,880	9,906
Total Current Liabilities	333	308	171	1,167	161	1,254	636
Short-Term Debt	282	-	0.00	998	0.00	998	380
Accounts Payable	42	137	114	7.91	15	13	19
Other Current Liabilities	9.22	19	0.00	107	95	144	126
Other Current Nonoperating Liabilities	0.00	42	58	54	52	98	111
Total Noncurrent Liabilities	5,975	5,817	7,096	6,121	6,136	6,627	9,270
Long-Term Debt	5,956	5,817	7,096	6,119	6,135	6,615	8,571
Other Noncurrent Operating Liabilities	19	-	0.00	2.50	0.90	12	699
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	6,141	9,896	10,249	9,525	10,084	10,342	9,715
Total Preferred & Common Equity	2,823	4,819	5,777	5,628	6,526	6,947	6,477
Total Common Equity	2,823	4,819	5,777	5,628	6,526	6,947	6,477
Common Stock	0.00	2,866	3,508	3,666	4,012	4,104	4,123
Retained Earnings	2,825	1,921	2,255	1,965	2,518	2,846	2,356
Treasury Stock	-4.27	-2.32	-2.72	-2.81	-2.63	-2.66	-2.61
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	3,318	5,077	4,472	3,897	3,558	3,396	3,238

This table presents Royalty Pharma'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	17,673	17,074	17,121	15,856	16,131	17,657	18,042	17,608	18,323	19,347	19,815
Total Current Assets	2,342	2,631	2,954	1,729	1,560	2,579	1,794	1,843	1,520	1,850	1,426
Cash & Equivalents	992	1,976	2,173	936	843	1,765	950	1,088	632	939	586
Short-Term Investments	549	2.50	5.10	5.30	29	39	49	12	13	16	22
Note & Lease Receivable	676	610	730	742	660	750	766	717	843	860	780
Other Current Assets	125	43	45	45	27	26	30	27	32	34	38
Plant, Property, & Equipment, net	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Noncurrent Assets	15,330	14,443	14,168	14,127	14,571	15,077	16,248	15,765	16,803	17,498	18,390
Long-Term Investments	750	652	728	732	824	982	1,008	555	548	593	672
Noncurrent Note & Lease Receivables	14,287	13,662	13,268	13,230	13,465	13,890	14,968	15,032	15,134	15,764	16,542
Goodwill	-	-	-	-	-	-	-	-	925	925	925
Other Noncurrent Operating Assets	293	130	172	165	282	206	272	178	196	216	250
Total Liabilities & Shareholders' Equity	17,673	17,074	17,121	15,856	16,131	17,657	18,042	17,608	18,323	19,347	19,815
Total Liabilities	7,256	7,252	7,308	6,270	6,267	7,905	7,784	7,820	8,820	9,726	9,879
Total Current Liabilities	1,132	1,117	1,172	128	125	276	1,168	1,183	1,207	531	536
Short-Term Debt	997	998	999	0.00	-	-	997	999	999	380	380
Accounts Payable	122	105	5.81	14	12	23	22	38	20	41	25
Other Current Liabilities	-	0.00	113	102	100	196	110	127	101	80	105
Other Current Nonoperating Liabilities	13	13	54	13	13	56	38	19	86	29	25
Total Noncurrent Liabilities	6,125	6,135	6,136	6,142	6,143	7,629	6,616	6,637	7,614	9,196	9,343
Long-Term Debt	6,115	6,123	6,127	6,131	6,139	7,602	6,610	6,619	7,003	8,566	8,576
Other Noncurrent Operating Liabilities	9.90	12	8.50	11	3.22	27	5.58	18	610	630	766
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	10,416	9,822	9,814	9,585	9,864	9,752	10,258	9,789	9,503	9,621	9,937
Total Preferred & Common Equity	6,152	5,954	6,282	6,139	6,500	6,476	6,870	6,689	6,348	6,414	6,889
Total Common Equity	6,152	5,954	6,282	6,139	6,500	6,476	6,870	6,689	6,348	6,414	6,889
Common Stock	3,633	3,740	4,031	4,007	4,075	4,101	4,108	4,211	4,128	4,113	4,384
Retained Earnings	2,505	2,217	2,253	2,135	2,427	2,378	2,765	2,481	2,223	2,304	2,507
Treasury Stock	-2.79	-2.83	-2.63	-2.62	-2.65	-2.66	-2.66	-2.65	-2.61	-2.61	-2.71
Other Equity Adjustments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Noncontrolling Interest	4,264	3,868	3,532	3,446	3,364	3,276	3,389	3,100	3,155	3,207	3,048

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	1.08%	16.98%	7.87%	-2.28%	5.24%	-3.86%	5.06%
EBITDA Growth	0.00%	52.40%	-34.55%	-22.82%	-74.62%	404.07%	-17.17%	6.07%
EBIT Growth	0.00%	53.91%	-34.82%	-23.12%	-74.61%	412.27%	-17.17%	6.07%
NOPAT Growth	0.00%	92.25%	-39.18%	-10.32%	-78.54%	385.94%	-13.38%	20.66%
Net Income Growth	0.00%	62.16%	-30.85%	-27.07%	-81.46%	638.96%	-21.72%	-0.50%
EPS Growth	0.00%	0.00%	0.00%	12.88%	-93.29%	2,430.00%	-24.51%	-6.81%
Operating Cash Flow Growth	0.00%	3.02%	22.04%	-0.84%	6.27%	39.36%	-7.32%	-10.08%
Free Cash Flow Firm Growth	0.00%	0.00%	103.32%	-122.42%	898.38%	58.81%	-69.63%	-53.55%
Invested Capital Growth	0.00%	0.00%	10.96%	11.46%	-1.63%	4.37%	6.88%	8.99%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	0.16%	-0.44%	1.30%	-0.11%	1.21%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-14.91%	-67.44%	317.36%	-21.23%	5.34%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-15.13%	-67.62%	317.36%	-21.23%	5.34%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-10.09%	-67.44%	276.24%	-16.28%	1.75%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-20.14%	-74.26%	356.43%	-22.36%	1.66%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-23.20%	-91.15%	565.79%	-25.39%	1.71%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	4.48%	-3.62%	3.87%	7.28%	-1.08%	3.52%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	32.36%	-45.65%	188.06%	-68.13%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-0.99%	-6.00%	6.46%	0.60%	2.25%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	101.05%	152.35%	85.25%	60.99%	15.84%	75.86%	65.36%	65.98%
Operating Margin	76.02%	144.59%	75.17%	62.49%	13.73%	63.37%	57.10%	65.58%
EBIT Margin	99.19%	151.04%	84.16%	59.98%	15.58%	75.86%	65.36%	65.98%
Profit (Net Income) Margin	84.57%	135.67%	80.19%	54.21%	10.28%	72.20%	58.79%	55.68%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	85.25%	89.83%	95.28%	90.38%	65.98%	95.18%	89.96%	84.39%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	44.52%	12.84%	10.35%	2.12%	10.19%	8.35%	9.33%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	38.79%	15.25%	5.30%	0.44%	14.48%	9.08%	5.81%
Return on Net Nonoperating Assets (RNNOA)	0.00%	35.64%	8.39%	1.97%	0.20%	7.15%	4.68%	3.87%
Return on Equity (ROE)	0.00%	80.16%	21.23%	12.32%	2.33%	17.34%	13.03%	13.20%
Cash Return on Invested Capital (CROIC)	0.00%	-155.48%	2.45%	-0.49%	3.77%	5.91%	1.70%	0.73%
Operating Return on Assets (OROA)	0.00%	22.01%	12.55%	8.19%	2.03%	10.76%	8.55%	8.29%
Return on Assets (ROA)	0.00%	19.77%	11.96%	7.40%	1.34%	10.24%	7.69%	7.00%
Return on Common Equity (ROCE)	0.00%	36.85%	10.11%	6.48%	1.34%	10.75%	8.59%	8.84%
Return on Equity Simple (ROE_SIMPLE)	0.00%	87.19%	35.32%	21.49%	4.09%	26.05%	19.16%	0.00%
Net Operating Profit after Tax (NOPAT)	1,364	2,623	1,595	1,431	307	1,492	1,292	1,560
NOPAT Margin	76.02%	144.59%	75.17%	62.49%	13.73%	63.37%	57.10%	65.58%
Net Nonoperating Expense Percent (NNEP)	0.00%	5.73%	-2.42%	5.05%	1.69%	-4.29%	-0.73%	3.52%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	1.85%	9.20%	7.20%	8.35%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	3.45%	5.70%	8.56%	7.99%	10.16%	10.61%	10.46%	24.11%
R&D to Revenue	21.87%	4.58%	1.24%	8.74%	7.92%	2.21%	0.09%	19.01%
Operating Expenses to Revenue	23.98%	-44.59%	24.83%	37.51%	86.27%	36.63%	42.90%	34.42%
Earnings before Interest and Taxes (EBIT)	1,780	2,740	1,786	1,373	349	1,786	1,479	1,569
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	1,814	2,764	1,809	1,396	354	1,786	1,479	1,569
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.66	3.71	3.92	4.03	2.49	2.16	3.44
Price to Tangible Book Value (P/TBV)	0.00	0.67	3.74	3.92	4.03	2.49	2.16	4.02
Price to Revenue (P/Rev)	1.03	1.02	8.43	9.89	10.14	6.91	6.64	9.38
Price to Earnings (P/E)	1.35	0.79	18.35	36.55	529.67	14.34	17.50	28.93
Dividend Yield	0.00%	0.00%	0.65%	1.82%	2.03%	2.94%	3.29%	2.28%
Earnings Yield	74.27%	126.61%	5.45%	2.74%	0.19%	6.97%	5.72%	3.46%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.92	2.00	2.15	2.19	1.65	1.50	1.90
Enterprise Value to Revenue (EV/Rev)	0.00	5.96	12.30	13.71	14.01	10.47	10.59	13.94
Enterprise Value to EBITDA (EV/EBITDA)	0.00	3.91	14.43	22.48	88.45	13.81	16.21	21.12
Enterprise Value to EBIT (EV/EBIT)	0.00	3.95	14.62	22.86	89.89	13.81	16.21	21.12
Enterprise Value to NOPAT (EV/NOPAT)	0.00	4.12	16.36	21.94	102.07	16.53	18.55	21.25
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	6.49	12.83	15.56	14.62	8.25	8.66	13.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	85.79	0.00	57.53	28.51	91.28	271.67
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	1.02	0.59	0.69	0.75	0.61	0.74	0.92
Long-Term Debt to Equity	0.00	0.97	0.59	0.69	0.64	0.61	0.64	0.88
Financial Leverage	0.00	0.92	0.55	0.37	0.46	0.49	0.52	0.67
Leverage Ratio	0.00	2.03	1.78	1.66	1.74	1.69	1.69	1.89
Compound Leverage Factor	0.00	1.82	1.69	1.50	1.15	1.61	1.52	1.59
Debt to Total Capital	0.00%	50.39%	37.02%	40.91%	42.76%	37.83%	42.40%	47.95%
Short-Term Debt to Total Capital	0.00%	2.28%	0.00%	0.00%	5.99%	0.00%	5.56%	2.04%
Long-Term Debt to Total Capital	0.00%	48.11%	37.02%	40.91%	36.77%	37.83%	36.84%	45.92%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	26.81%	32.31%	25.78%	23.42%	21.94%	18.91%	17.35%
Common Equity to Total Capital	0.00%	22.80%	30.67%	33.30%	33.82%	40.24%	38.69%	34.70%
Debt to EBITDA	0.00	2.26	3.21	5.08	20.08	3.44	5.15	5.70
Net Debt to EBITDA	0.00	2.04	1.73	3.06	13.42	2.70	3.75	4.85
Long-Term Debt to EBITDA	0.00	2.15	3.21	5.08	17.27	3.44	4.47	5.46
Debt to NOPAT	0.00	2.38	3.65	4.96	23.18	4.11	5.89	5.74
Net Debt to NOPAT	0.00	2.15	1.97	2.98	15.49	3.23	4.30	4.88
Long-Term Debt to NOPAT	0.00	2.27	3.65	4.96	19.93	4.11	5.12	5.50
Altman Z-Score	0.00	1.41	2.60	2.63	2.33	2.35	1.79	1.96
Noncontrolling Interest Sharing Ratio	0.00%	54.03%	52.35%	47.40%	42.32%	38.02%	34.04%	33.07%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	2.50	8.76	16.81	2.19	7.90	1.44	2.40
Quick Ratio	0.00	2.38	8.60	16.37	2.08	7.65	1.41	2.34
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-9,160	304	-68	545	865	263	122
Operating Cash Flow to CapEx	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-34.11	1.94	-0.41	2.90	4.62	1.16	0.40
Operating Cash Flow to Interest Expense	5.78	6.21	12.95	12.14	11.41	15.96	12.28	8.09
Operating Cash Flow Less CapEx to Interest Expense	5.78	6.21	12.95	12.14	11.41	15.96	12.28	8.09
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.15	0.15	0.14	0.13	0.14	0.13	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	11,784	13,075	14,574	14,336	14,963	15,993	17,430
Invested Capital Turnover	0.00	0.31	0.17	0.17	0.15	0.16	0.15	0.14
Increase / (Decrease) in Invested Capital	0.00	11,784	1,291	1,499	-238	627	1,030	1,438
Enterprise Value (EV)	0.00	10,816	26,108	31,389	31,341	24,661	23,978	33,147
Market Capitalization	1,855	1,855	17,894	22,649	22,687	16,276	15,030	22,304
Book Value per Share	$0.00	$40.33	$12.42	$9.51	$9.27	$10.92	$11.79	$11.22
Tangible Book Value per Share	$0.00	$39.59	$12.34	$9.50	$9.27	$10.92	$11.79	$9.62
Total Capital	0.00	12,380	15,712	17,345	16,642	16,220	17,955	18,666
Total Debt	0.00	6,238	5,817	7,096	7,116	6,135	7,612	8,951
Total Long-Term Debt	0.00	5,956	5,817	7,096	6,119	6,135	6,615	8,571
Net Debt	0.00	5,642	3,137	4,267	4,756	4,827	5,552	7,604
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	440	327	518	649	618	559	634
Debt-free Net Working Capital (DFNWC)	0.00	781	2,389	2,707	2,386	1,113	1,546	1,272
Net Working Capital (NWC)	0.00	499	2,389	2,707	1,388	1,113	549	892
Net Nonoperating Expense (NNE)	-153	162	-107	190	77	-208	-38	235
Net Nonoperating Obligations (NNO)	0.00	5,642	3,179	4,325	4,811	4,879	5,650	7,715
Total Depreciation and Amortization (D&A)	33	24	23	23	5.67	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	24.25%	15.41%	22.63%	29.02%	26.23%	24.70%	26.68%
Debt-free Net Working Capital to Revenue	0.00%	43.03%	112.56%	118.24%	106.63%	47.26%	68.31%	53.48%
Net Working Capital to Revenue	0.00%	27.49%	112.56%	118.24%	62.05%	47.26%	24.23%	37.50%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	$1.32	$1.49	$0.10	$2.54	$1.92	$1.79
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	375.44M	414.79M	437.96M	447.60M	448.19M	429.80M
Adjusted Diluted Earnings per Share	$0.00	$0.00	$1.32	$1.49	$0.10	$2.53	$1.91	$1.78
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	375.46M	414.80M	437.97M	602.90M	594.11M	564.46M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	607.11M	607.18M	607.22M	597.43M	576.45M	576.86M
Normalized Net Operating Profit after Tax (NOPAT)	955	1,836	1,162	1,002	646	1,045	905	1,092
Normalized NOPAT Margin	53.21%	101.21%	54.77%	43.74%	28.88%	44.36%	39.97%	45.90%
Pre Tax Income Margin	84.57%	135.67%	80.19%	54.21%	10.28%	72.20%	58.79%	55.68%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	6.36	10.20	11.37	8.27	1.86	9.54	6.56	5.10
NOPAT to Interest Expense	4.87	9.77	10.16	8.61	1.63	7.97	5.73	5.07
EBIT Less CapEx to Interest Expense	6.36	10.20	11.37	8.27	1.86	9.54	6.56	5.10
NOPAT Less CapEx to Interest Expense	4.87	9.77	10.16	8.61	1.63	7.97	5.73	5.07
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	71.35%	36.29%	65.98%	74.01%	413.23%	50.28%	64.92%	68.01%
Augmented Payout Ratio	71.35%	36.47%	65.98%	74.01%	413.23%	68.21%	82.17%	160.70%

This table displays calculated financial ratios and metrics derived from Royalty Pharma'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	-	-	-	-	-	-	-	-	-	-	576,856,753.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	576,856,753.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.51
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-6.48%	5.36%	-16.96%	-0.17%	5.29%	-0.41%	0.05%	7.71%	7.90%	4.78%	10.97%
EBITDA Growth	-41.59%	226.33%	-90.75%	-38.86%	463.69%	-52.59%	930.09%	-35.05%	-40.72%	22.14%	10.80%
EBIT Growth	-41.59%	226.33%	-90.75%	-38.86%	463.69%	-52.59%	930.09%	-35.05%	-40.72%	22.14%	10.80%
NOPAT Growth	-21.21%	281.41%	-110.78%	8.35%	385.38%	-41.02%	1,134.40%	-22.19%	-41.89%	7.43%	5.40%
Net Income Growth	-44.61%	217.63%	-100.84%	-44.67%	560.53%	-53.41%	10,243.53%	-53.37%	-44.91%	6.45%	7.79%
EPS Growth	-50.00%	206.73%	-98.68%	-54.00%	656.25%	-58.56%	5,400.00%	-69.57%	-44.63%	6.52%	21.82%
Operating Cash Flow Growth	6.44%	35.57%	-35.71%	8.29%	22.68%	-3.90%	-10.32%	-44.70%	-0.14%	11.40%	20.49%
Free Cash Flow Firm Growth	496.77%	85.88%	-110.83%	-154.30%	-182.22%	-4,623.87%	-1,963.89%	-485.09%	34.73%	-57.00%	-42.33%
Invested Capital Growth	-7.84%	4.37%	-0.05%	3.81%	13.11%	6.88%	10.13%	12.12%	7.23%	8.99%	11.84%
Revenue Q/Q Growth	-0.35%	11.14%	-4.71%	-5.41%	5.10%	5.13%	-4.28%	1.83%	5.29%	2.08%	1.38%
EBITDA Q/Q Growth	-59.86%	405.73%	-93.84%	388.97%	270.10%	-57.46%	33.81%	-69.17%	237.82%	-12.36%	21.64%
EBIT Q/Q Growth	-59.86%	405.73%	-93.84%	388.97%	270.10%	-57.46%	33.81%	-69.17%	237.82%	-12.36%	21.64%
NOPAT Q/Q Growth	-39.14%	304.71%	-108.43%	622.12%	172.62%	-50.82%	47.76%	-60.73%	103.60%	-9.08%	44.97%
Net Income Q/Q Growth	-65.25%	487.81%	-100.60%	4,648.96%	314.84%	-58.54%	29.63%	-79.09%	390.11%	-19.88%	31.56%
EPS Q/Q Growth	-68.00%	593.75%	-99.10%	2,200.00%	426.09%	-61.98%	19.57%	-87.27%	857.14%	-26.87%	36.73%
Operating Cash Flow Q/Q Growth	-5.64%	34.72%	-13.98%	-0.97%	6.90%	5.53%	-19.72%	-38.94%	93.03%	17.72%	-13.17%
Free Cash Flow Firm Q/Q Growth	173.65%	-101.05%	-213.91%	-501.73%	-314.32%	39.64%	-37.15%	-70.58%	53.78%	-45.19%	-24.34%
Invested Capital Q/Q Growth	-0.23%	6.46%	-4.30%	2.13%	8.70%	0.60%	-1.39%	3.98%	3.96%	2.25%	1.19%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
EBITDA Margin	27.95%	127.18%	8.22%	42.49%	149.63%	60.55%	84.64%	25.63%	82.21%	70.58%	84.68%
Operating Margin	28.24%	102.82%	-12.99%	50.19%	130.17%	60.90%	94.01%	36.26%	70.11%	62.44%	89.29%
EBIT Margin	27.95%	127.18%	8.22%	42.49%	149.63%	60.55%	84.64%	25.63%	82.21%	70.58%	84.68%
Profit (Net Income) Margin	22.76%	120.39%	-0.75%	36.18%	142.80%	56.32%	76.28%	15.66%	72.91%	57.22%	74.26%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Interest Burden Percent	81.44%	94.66%	-9.15%	85.14%	95.43%	93.02%	90.12%	61.12%	88.68%	81.07%	87.69%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	4.48%	16.53%	-1.42%	7.82%	19.70%	8.91%	14.15%	5.39%	10.00%	8.89%	13.05%
ROIC Less NNEP Spread (ROIC-NNEP)	3.85%	18.69%	-0.36%	6.18%	21.11%	8.39%	12.21%	3.36%	10.26%	8.40%	11.66%
Return on Net Nonoperating Assets (RNNOA)	1.79%	9.23%	-0.17%	2.89%	10.75%	4.32%	6.49%	2.06%	6.74%	5.60%	8.09%
Return on Equity (ROE)	6.27%	25.76%	-1.59%	10.71%	30.45%	13.23%	20.63%	7.44%	16.75%	14.48%	21.13%
Cash Return on Invested Capital (CROIC)	10.86%	5.91%	6.61%	2.95%	-1.99%	1.70%	2.99%	0.43%	2.32%	0.73%	-1.67%
Operating Return on Assets (OROA)	3.88%	18.04%	1.11%	5.47%	20.01%	7.92%	11.36%	3.28%	10.33%	8.87%	11.04%
Return on Assets (ROA)	3.16%	17.08%	-0.10%	4.66%	19.09%	7.37%	10.24%	2.01%	9.16%	7.19%	9.69%
Return on Common Equity (ROCE)	3.85%	15.97%	-1.00%	6.98%	19.96%	8.73%	13.85%	4.96%	11.19%	9.69%	14.55%
Return on Equity Simple (ROE_SIMPLE)	6.07%	0.00%	18.26%	15.90%	24.95%	0.00%	26.44%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	151	613	-52	270	735	362	534	210	427	388	563
NOPAT Margin	28.24%	102.82%	-9.09%	50.19%	130.17%	60.90%	94.01%	36.26%	70.11%	62.44%	89.29%
Net Nonoperating Expense Percent (NNEP)	0.63%	-2.16%	-1.06%	1.65%	-1.41%	0.52%	1.93%	2.03%	-0.26%	0.49%	1.39%
Return On Investment Capital (ROIC_SIMPLE)	-	3.78%	-	-	-	2.01%	3.07%	1.20%	2.30%	2.08%	2.98%
Cost of Revenue to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SG&A Expenses to Revenue	10.67%	9.93%	10.15%	10.18%	10.04%	11.39%	19.48%	31.07%	19.49%	26.41%	25.29%
R&D to Revenue	9.42%	0.08%	0.09%	0.09%	0.09%	0.08%	8.89%	51.93%	8.29%	8.12%	6.31%
Operating Expenses to Revenue	71.76%	-2.82%	112.99%	49.81%	-30.17%	39.10%	5.99%	63.74%	29.89%	37.56%	10.71%
Earnings before Interest and Taxes (EBIT)	150	758	47	228	845	359	481	148	501	439	534
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	150	758	47	228	845	359	481	148	501	439	534
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	2.58	2.49	2.75	2.41	2.44	2.16	2.68	3.19	3.21	3.44	4.02
Price to Tangible Book Value (P/TBV)	2.58	2.49	2.75	2.41	2.44	2.16	2.68	3.74	3.75	4.02	4.64
Price to Revenue (P/Rev)	6.82	6.91	7.98	6.99	7.41	6.64	7.93	8.79	8.76	9.38	11.34
Price to Earnings (P/E)	85.97	14.34	22.37	23.22	14.66	17.50	16.42	19.85	26.90	28.93	33.49
Dividend Yield	3.00%	2.94%	2.71%	3.13%	2.93%	3.29%	2.73%	2.39%	2.47%	2.28%	1.87%
Earnings Yield	1.16%	6.97%	4.47%	4.31%	6.82%	5.72%	6.09%	5.04%	3.72%	3.46%	2.99%
Enterprise Value to Invested Capital (EV/IC)	1.69	1.65	1.79	1.62	1.62	1.50	1.71	1.84	1.83	1.90	2.18
Enterprise Value to Revenue (EV/Rev)	10.22	10.47	11.47	10.60	11.38	10.59	11.93	13.11	13.27	13.94	15.73
Enterprise Value to EBITDA (EV/EBITDA)	55.51	13.81	19.34	20.06	13.73	16.21	14.11	16.48	20.93	21.12	23.68
Enterprise Value to EBIT (EV/EBIT)	55.51	13.81	19.34	20.06	13.73	16.21	14.11	16.48	20.93	21.12	23.68
Enterprise Value to NOPAT (EV/NOPAT)	59.90	16.53	27.33	24.71	16.70	18.55	14.21	16.42	20.34	21.25	24.17
Enterprise Value to Operating Cash Flow (EV/OCF)	8.53	8.25	9.81	8.89	9.21	8.66	10.00	12.56	12.96	13.31	14.70
Enterprise Value to Free Cash Flow (EV/FCFF)	14.93	28.51	27.13	56.04	0.00	91.28	60.05	448.47	81.43	271.67	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.64	0.61	0.62	0.78	0.74	0.74	0.78	0.84	0.93	0.92	0.90
Long-Term Debt to Equity	0.64	0.61	0.62	0.78	0.64	0.64	0.68	0.74	0.89	0.88	0.86
Financial Leverage	0.47	0.49	0.46	0.47	0.51	0.52	0.53	0.61	0.66	0.67	0.69
Leverage Ratio	1.68	1.69	1.69	1.78	1.71	1.69	1.72	1.87	1.88	1.89	1.90
Compound Leverage Factor	1.37	1.60	-0.15	1.51	1.63	1.58	1.55	1.14	1.67	1.53	1.66
Debt to Total Capital	39.01%	37.83%	38.36%	43.81%	42.58%	42.40%	43.76%	45.71%	48.18%	47.95%	47.41%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	5.58%	5.56%	5.74%	5.71%	2.05%	2.04%	2.01%
Long-Term Debt to Total Capital	39.01%	37.83%	38.36%	43.81%	37.00%	36.84%	38.03%	40.01%	46.14%	45.92%	45.39%
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	21.93%	21.94%	21.02%	18.88%	18.97%	18.91%	17.81%	18.02%	17.27%	17.35%	16.13%
Common Equity to Total Capital	39.06%	40.24%	40.62%	37.32%	38.45%	38.69%	38.43%	36.26%	34.55%	34.70%	36.46%
Debt to EBITDA	14.33	3.44	4.62	6.43	4.05	5.15	3.98	4.36	6.01	5.70	5.52
Net Debt to EBITDA	10.42	2.70	3.35	4.07	2.98	3.75	3.12	3.71	4.97	4.85	4.73
Long-Term Debt to EBITDA	14.33	3.44	4.62	6.43	3.52	4.47	3.46	3.82	5.75	5.46	5.29
Debt to NOPAT	15.46	4.11	6.54	7.92	4.93	5.89	4.01	4.35	5.84	5.74	5.64
Net Debt to NOPAT	11.24	3.23	4.73	5.02	3.63	4.30	3.14	3.70	4.83	4.88	4.83
Long-Term Debt to NOPAT	15.46	4.11	6.54	7.92	4.28	5.12	3.48	3.80	5.59	5.50	5.40
Altman Z-Score	2.00	2.14	2.18	1.70	1.83	1.59	1.84	1.72	1.72	1.77	2.12
Noncontrolling Interest Sharing Ratio	38.55%	38.02%	36.74%	34.79%	34.44%	34.04%	32.89%	33.40%	33.18%	33.07%	31.17%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	13.51	7.90	12.52	9.35	1.54	1.44	1.56	1.26	3.48	2.40	2.66
Quick Ratio	13.16	7.65	12.30	9.26	1.51	1.41	1.54	1.23	3.42	2.34	2.59
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	1,346	-14	-44	-267	-1,107	-668	-916	-1,563	-723	-1,049	-1,304
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	29.25	-0.30	-1.00	-5.45	-16.65	-10.16	-14.04	-22.77	-9.08	-11.14	-13.92
Operating Cash Flow to Interest Expense	12.46	16.35	15.03	13.43	10.58	11.29	9.13	5.30	8.83	8.78	7.66
Operating Cash Flow Less CapEx to Interest Expense	12.46	16.35	15.03	13.43	10.58	11.29	9.13	5.30	8.83	8.78	7.66
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.14	0.14	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13	0.13
Accounts Receivable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Accounts Payable Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Sales Outstanding (DSO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash Conversion Cycle (CCC)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	14,055	14,963	14,320	14,625	15,897	15,993	15,770	16,398	17,047	17,430	17,638
Invested Capital Turnover	0.16	0.16	0.16	0.16	0.15	0.15	0.15	0.15	0.14	0.14	0.15
Increase / (Decrease) in Invested Capital	-1,195	627	-7.24	537	1,842	1,030	1,451	1,773	1,150	1,438	1,867
Enterprise Value (EV)	23,758	24,661	25,678	23,726	25,778	23,978	27,007	30,222	31,178	33,147	38,396
Market Capitalization	15,854	16,276	17,871	15,634	16,789	15,030	17,945	20,258	20,574	22,304	27,672
Book Value per Share	$10.20	$10.92	$14.49	$10.84	$11.58	$11.79	$11.60	$11.29	$11.00	$11.22	$11.94
Tangible Book Value per Share	$10.20	$10.92	$14.49	$10.84	$11.58	$11.79	$11.60	$9.65	$9.41	$9.62	$10.34
Total Capital	15,716	16,220	16,003	17,354	17,866	17,955	17,406	17,505	18,567	18,666	18,893
Total Debt	6,131	6,135	6,139	7,602	7,607	7,612	7,617	8,002	8,946	8,951	8,956
Total Long-Term Debt	6,131	6,135	6,139	7,602	6,610	6,615	6,619	7,003	8,566	8,571	8,576
Net Debt	4,458	4,827	4,443	4,817	5,601	5,552	5,962	6,810	7,397	7,604	7,676
Capital Expenditures (CapEx)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital (DFCFNWC)	659	618	563	500	625	559	559	668	744	634	662
Debt-free Net Working Capital (DFNWC)	1,601	1,113	1,435	2,303	1,623	1,546	1,659	1,313	1,699	1,272	1,270
Net Working Capital (NWC)	1,601	1,113	1,435	2,303	626	549	660	314	1,319	892	890
Net Nonoperating Expense (NNE)	29	-105	-47	75	-71	27	101	119	-17	32	95
Net Nonoperating Obligations (NNO)	4,470	4,879	4,456	4,873	5,639	5,650	5,982	6,895	7,426	7,715	7,701
Total Depreciation and Amortization (D&A)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt-free, Cash-free Net Working Capital to Revenue	28.35%	26.23%	25.16%	22.36%	27.57%	24.70%	24.70%	28.98%	31.65%	26.68%	27.12%
Debt-free Net Working Capital to Revenue	68.87%	47.26%	64.11%	102.94%	71.64%	68.31%	73.28%	56.96%	72.29%	53.48%	52.04%
Net Working Capital to Revenue	68.87%	47.26%	64.11%	102.94%	27.65%	24.23%	29.17%	13.61%	56.12%	37.50%	36.47%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.16	$1.11	$0.01	$0.23	$1.22	$0.46	$0.55	$0.07	$0.67	$0.50	$0.67
Adjusted Weighted Average Basic Shares Outstanding	448.44M	447.60M	448.62M	451.02M	447.63M	448.19M	435.48M	423.51M	431.89M	429.80M	436.79M
Adjusted Diluted Earnings per Share	$0.16	$1.11	$0.01	$0.23	$1.21	$0.46	$0.55	$0.07	$0.67	$0.49	$0.67
Adjusted Weighted Average Diluted Shares Outstanding	601.14M	602.90M	597.48M	596.91M	592.73M	594.11M	578.10M	562.30M	559.61M	564.46M	556.84M
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	597.43M	597.43M	597.44M	593.46M	589.18M	576.45M	562.24M	583.17M	577.24M	576.86M	575.83M
Normalized Net Operating Profit after Tax (NOPAT)	106	429	-52	189	515	253	374	147	299	272	443
Normalized NOPAT Margin	19.77%	71.98%	-9.09%	35.13%	91.12%	42.63%	65.80%	25.38%	49.07%	43.71%	70.21%
Pre Tax Income Margin	22.76%	120.39%	-0.75%	36.18%	142.80%	56.32%	76.28%	15.66%	72.91%	57.22%	74.26%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	3.26	16.04	1.06	4.66	12.70	5.47	7.37	2.16	6.30	4.66	5.70
NOPAT to Interest Expense	3.29	12.97	-1.17	5.50	11.05	5.50	8.19	3.06	5.37	4.12	6.01
EBIT Less CapEx to Interest Expense	3.26	16.04	1.06	4.66	12.70	5.47	7.37	2.16	6.30	4.66	5.70
NOPAT Less CapEx to Interest Expense	3.29	12.97	-1.17	5.50	11.05	5.50	8.19	3.06	5.37	4.12	6.01
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	169.03%	50.28%	71.99%	83.82%	50.60%	64.92%	50.00%	53.33%	68.53%	68.01%	65.47%
Augmented Payout Ratio	242.74%	68.21%	71.99%	108.13%	62.69%	82.17%	103.07%	122.41%	160.61%	160.70%	107.35%

Financials Breakdown Chart

Key Financial Trends

Here is a concise trend snapshot for Royalty Pharma plc (RPRX) using the latest four years of quarterly statements. The focus is on notable revenue, earnings, cash flow, and balance‑sheet dynamics that may affect investors.

The company maintained a steady quarterly revenue range around $0.58–$0.62 billion in 2025, with Q4 2025 revenue of $621.99 million and Q3 2025 at $609.29 million.
Earnings per share show resilience, with quarterly results including Q3 2025 diluted EPS of $0.67 and Q4 2025 basic EPS of $0.50, reflecting solid profitability in the period.
Net income attributable to common shareholders remained positive in every quarter of 2025, including Q3 2025 at about $288.2 million and Q4 2025 at about $214.2 million.
Cash flow from operations remained robust, with continuing operating cash flow around $0.58–$0.97 billion across 2025 quarters (e.g., Q3 2025 $972.1 million; Q4 2025 $568.5 million; Q1 2025 $584.1 million).
The company continued returning capital to shareholders via consistent quarterly cash dividends of $0.22 per share in 2025.
Healthy balance sheet posture with Total assets around $18–19 billion and Total equity around $9.6–$9.8 billion in 2025, supporting financial flexibility.
Significant investing activity was observed in 2025, including large Purchase of Investments outflows (e.g., about $0.96 billion in Q3 2025), suggesting portfolio expansion or asset deployment strategy.
Long-term debt remained high (roughly $6–8 billion across 2024–2025) but supported by substantial equity, indicating a relatively stable leverage profile.
Substantial cash outflows from investing activities in 2025, especially Q3 and Q4, contributed to negative net changes in cash for those quarters.
Note the cash outlays for share repurchases in 2025 (about $146.5 million in Q3 and $80.5 million in Q4), which reduced cash and may reflect the company’s capital-return strategy.

05/07/26 12:31 PM ETAI Generated. May Contain Errors.

Frequently Asked Questions About Royalty Pharma's Financials

When does Royalty Pharma's financial year end?

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

How has Royalty Pharma's net income changed over the last 7 years?

Royalty Pharma's net income appears to be on a downward trend, with a most recent value of $1.32 billion in 2025, falling from $1.52 billion in 2018. The previous period was $1.33 billion in 2024. Check out Royalty Pharma's forecast to explore projected trends and price targets.

What is Royalty Pharma's operating income?

Royalty Pharma's total operating income in 2025 was $1.56 billion, based on the following breakdown:

Total Gross Profit: $2.38 billion
Total Operating Expenses: $818.68 million

How has Royalty Pharma's revenue changed over the last 7 years?

Over the last 7 years, Royalty Pharma's total revenue changed from $1.79 billion in 2018 to $2.38 billion in 2025, a change of 32.5%.

How much debt does Royalty Pharma have?

Royalty Pharma's total liabilities were at $9.91 billion at the end of 2025, a 25.7% increase from 2024, and a 57.0% increase since 2019.

How much cash does Royalty Pharma have?

In the past 6 years, Royalty Pharma's cash and equivalents has ranged from $246.20 million in 2019 to $1.71 billion in 2022, and is currently $618.70 million as of their latest financial filing in 2025.

How has Royalty Pharma's book value per share changed over the last 7 years?

Over the last 7 years, Royalty Pharma's book value per share changed from 0.00 in 2018 to 11.22 in 2025, a change of 1,122.1%.

Related Companies

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

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Royalty Pharma (RPRX) Financials

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Royalty Pharma (RPRX) Financials

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