NEUROCRINE BIOSCIENCES INC NBIX
Neurocrine Biosciences is a neuroscience-focused, biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs. We are dedicated to discovering, developing, and commercializing life-changing treatments for patients with under-addressed neurological, psychiatric, endocrine, and immunological disorders.
Our portfolio of products includes U.S. Food and Drug Administration (FDA) approved treatments for tardive dyskinesia (TD), chorea associated with Huntington's disease, classic congenital adrenal hyperplasia due to 21-hydroxylase deficiency (CAH), and endometriosis and uterine fibroids in collaboration with AbbVie Inc. In addition, we have a diversified portfolio of multiple compounds in mid- to late-phase development across our core therapeutic areas and an expanding early-phase pipeline that includes a range of modalities including small molecules, peptides, proteins, antibodies, conjugates, and gene therapies.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.86B | $2.36B | $1.89B | $1.49B | $1.13B | $1.05B | $788.1M | $451.2M | $161.6M | $15.0M |
| Cost of revenue | $52.1M | $34.0M | $39.7M | $23.2M | $14.3M | $10.1M | — | $4.9M | $1.3M | $0 |
| Gross profit | $2.81B | $2.32B | $1.85B | $1.47B | $1.12B | $1.04B | — | $446.3M | $160.4M | $15.0M |
| R&D | — | — | — | — | — | — | — | $160.5M | $121.8M | $94.3M |
| SG&A | $1.16B | $1.01B | $887.6M | $752.7M | $583.3M | $433.3M | $354.1M | $248.9M | $169.9M | $68.1M |
| Total operating expenses | $2.24B | $1.78B | $1.64B | $1.24B | $1.03B | $882.9M | $715.8M | $414.4M | $293.0M | $162.4M |
| Operating income | $619.1M | $570.5M | $250.9M | $249.0M | $102.5M | $163.0M | $72.3M | $36.8M | -$131.4M | -$147.4M |
| Interest expense | — | — | $4.6M | $7.1M | $25.8M | $32.8M | $32.0M | $30.5M | $19.5M | $0 |
| Pre-tax income | $705.4M | $486.0M | $332.1M | $213.9M | $101.4M | $106.7M | $46.5M | $21.8M | -$142.5M | -$141.1M |
| Income tax | $226.8M | $144.7M | $82.4M | $59.4M | $11.8M | $300.6M | $9.5M | $700.0K | $0 | $0 |
| Net income | $478.6M | $341.3M | $249.7M | $154.5M | $89.6M | $407.3M | $37.0M | $21.1M | -$142.5M | -$141.1M |
| EPS, basic | 4.81 | 3.40 | 2.56 | 1.61 | 0.95 | 4.38 | 0.40 | 0.23 | -1.62 | -1.63 |
| EPS, diluted | 4.67 | 3.29 | 2.47 | 1.56 | 0.92 | 4.16 | 0.39 | 0.22 | -1.62 | -1.63 |
| Shares, diluted (wtd. avg.) | $102.5M | $103.7M | $101.0M | $98.9M | $97.9M | $97.8M | $95.7M | $95.4M | $88.1M | $86.7M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $713.0M | $233.0M | $259.1M | $270.7M | $344.0M | $190.3M | $115.5M | $147.2M | $259.2M | $88.2M |
| Short-term investments | $767.4M | $843.1M | $780.5M | $726.4M | $370.5M | $613.9M | $558.2M | $509.2M | $261.2M | — |
| Receivables | $686.8M | $479.1M | $439.3M | $350.0M | $185.5M | $157.1M | $126.6M | $57.4M | $31.1M | $0 |
| Inventory | $69.0M | $57.4M | $38.3M | $35.1M | $30.5M | $28.0M | $17.3M | $10.9M | $1.0M | — |
| Total current assets | $2.52B | $1.72B | $1.61B | $1.45B | $972.8M | $1.02B | $831.0M | $737.8M | $554.9M | $310.4M |
| Property, plant and equipment | $89.8M | $82.6M | $70.8M | $58.6M | $58.6M | $44.6M | $41.9M | $33.9M | $10.8M | $6.3M |
| Goodwill | — | $5.7M | $5.8M | $5.4M | $0 | — | — | — | — | — |
| Other intangibles | — | $36.5M | $35.5M | $37.2M | $0 | — | — | — | — | — |
| Total assets | $4.63B | $3.72B | $3.25B | $2.37B | $2.07B | $1.73B | $1.31B | $993.2M | $817.6M | $365.1M |
| Accounts payable | $674.3M | $461.6M | $448.8M | $347.6M | $225.8M | $168.7M | $141.3M | $86.4M | $5.6M | $5.1M |
| Total current liabilities | $743.4M | $507.7M | $654.8M | $537.7M | $245.8M | $186.5M | $565.3M | $88.2M | $54.4M | $30.4M |
| Total liabilities | $1.38B | $1.13B | $1.02B | $660.9M | $698.5M | $608.5M | $669.1M | $512.4M | $445.5M | $50.2M |
| Retained earnings | $447.7M | $29.2M | -$157.1M | -$406.8M | -$635.8M | -$725.4M | -$1.13B | -$1.18B | -$1.20B | -$1.06B |
| Total equity | $3.25B | $2.59B | $2.23B | $1.71B | $1.37B | $1.13B | $636.9M | $480.8M | $372.2M | $314.9M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $782.7M | $595.4M | $389.9M | $339.4M | $256.5M | $228.5M | $147.0M | $101.4M | -$94.3M | -$106.2M |
| Depreciation and amortisation | $26.0M | $23.5M | $17.8M | $15.1M | $10.9M | $8.6M | $7.4M | $4.0M | $2.4M | $1.5M |
| Stock-based compensation | $217.9M | $195.5M | $194.3M | $173.1M | $134.2M | $100.0M | $75.3M | $58.1M | $42.5M | $28.5M |
| Capital expenditure | $34.0M | $38.2M | $28.3M | $16.5M | $23.4M | $10.9M | $14.7M | $24.8M | $6.9M | $4.1M |
| Investing cash flow | -$264.4M | -$126.8M | -$467.1M | -$177.1M | -$130.2M | $4.1M | -$211.1M | -$242.9M | -$251.3M | $113.0M |
| Financing cash flow | -$38.3M | -$486.7M | $65.3M | -$234.3M | $27.4M | -$157.8M | $32.4M | $29.5M | $516.6M | $2.4M |
| Buybacks | $167.7M | $300.0M | $0 | $0 | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000914475-26-000015.
Others in SIC 2836
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| AMGN | AMGEN INC | $236.38B | 30.7x | 10.0% |
| GILD | GILEAD SCIENCES, INC. | $187.23B | 22.3x | 2.4% |
| MRNA | Moderna, Inc. | $58.11B | — | -39.9% |
| RVMD | Revolution Medicines, Inc. | $45.01B | — | — |
| BIIB | BIOGEN INC. | $32.60B | 25.1x | 2.2% |
| SCNI | Scinai Immunotherapeutics Ltd. | $25.80B | — | 99.2% |
| EXEL | EXELIXIS, INC. | $14.62B | 21.2x | 7.0% |
| HALO | HALOZYME THERAPEUTICS, INC. | $12.51B | 43.0x | 37.6% |