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Biohaven Ltd.(BHVN)Earnings, Financials & Key Ratios
BHVN•NYSE
Price updated Jun 19, 2026
AboutBiohaven Ltd. is a clinical-stage biopharmaceutical company. The Company focuses on development of therapies for neurological and immunoscience diseases that can change current treatment paradigms.Show more
- Revenue$0
- EBITDA-$735M+16.2%
- Net Income-$739M+12.7%
- EPS (Diluted)-6.86+26.1%
- ROE-310.75%-56.3%
BHVN Key Insights
Biohaven Ltd. (BHVN) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
No significant strengths identified
✗Weaknesses
- ✗High debt to equity ratio of 5.4x
- ✗Profits declining 44.2% over 5 years
- ✗Weak Piotroski F-Score: 2/9
- ✗Shares diluted 18.0% in last year
- ✗Expensive at 28.0x book value
- ✗Low asset turnover indicates capital-intensive operations
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
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BHVN Price & Volume
Biohaven Ltd. (BHVN) stock price & volume — 10-year historical chart
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BHVN Growth Metrics
Biohaven Ltd. (BHVN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years-
TTM-
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM27.11%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM39.42%
Return on Capital
10 Years-158.64%
5 Years-174.91%
3 Years-154.86%
Last Year-187.19%
BHVN Recent Earnings
Biohaven Ltd. (BHVN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 2/12 qtrs (17%)
Q2 2026Latest
May 4, 2026Metric
Actual
Est
EPS
$0.88-2.3%
$0.86
Rev
—
$267,436
Q2 2026
Mar 2, 2026Metric
Actual
Est
EPS
$1.21+0.8%
$1.22
Rev
—
$400,000
Q4 2025
Nov 10, 2025Metric
Actual
Est
EPS
$1.64+14.1%
$1.91
Rev
—
$375,091
Q3 2025
Aug 11, 2025Metric
Actual
Est
EPS
$1.94+0.0%
$1.94
Rev
—
$412,600
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 4, 2026 | $0.88vs $0.86-2.3% | —vs $267,436 |
| Q2 2026 | Mar 2, 2026 | $1.21vs $1.22+0.8% | —vs $400,000 |
| Q4 2025 | Nov 10, 2025 | $1.64vs $1.91+14.1% | —vs $375,091 |
| Q3 2025 | Aug 11, 2025 | $1.94vs $1.94+0.0% | —vs $412,600 |
Based on last 12 quarters of dataView full earnings history →
BHVN Peer Comparison
Biohaven Ltd. (BHVN) competitors in Neuroscience and Psychiatry Therapies — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NKTR | 1.19B | 60.98 | -6.27 | -43.89% | -284.18% | -87% | 1.66 | |
 PTGX | 7.26B | 112.86 | -55.05 | -89.41% | -6.48% | -17.76% | 0.02 | |
 KALA | 79.17M | 3.61 | -1.09 | -13.36% | ||||
 ACAD | 3.7B | 21.62 | 9.44 | 11.87% | 34.3% | 35.65% | 0.04 | |
 INVA | 1.66B | 22.49 | 6.82 | 18.52% | 118.91% | 47.59% | 0.23 | |
 PRAX | 8.15B | 282.31 | -20.94 | -100% | -43.02% | 0.00 | ||
 LNTH | 6.76B | 103.86 | 30.46 | 0.5% | 18.05% | 24.33% | 0.00 | |
 AXSM | 12.89B | 250.50 | -68.07 | 65.55% | -26.59% | -260.01% | 2.73 |
Compare BHVN vs Peers
Biohaven Ltd. (BHVN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
BHVN Income Statement
Biohaven Ltd. (BHVN) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Sales/Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Revenue Growth % | - | - | - | - | - | - | - | - |
Cost of Goods Sold | 0 | 0 | 0 | 0 | 0 | 0 | 4.14M | 2.06M |
COGS % of Revenue | - | - | - | - | - | - | - | - |
Gross Profit | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | 0▲ 0% | -4.14M▲ 0% | -2.06M▲ 0% |
Gross Margin % | - | - | - | - | - | - | - | - |
Gross Profit Growth % | - | - | - | - | - | - | - | - |
Operating Expenses | 479.12M | 114.51M | 218.9M | 567.93M | 436.05M | 885.11M | 741.24M | 652.18M |
OpEx % of Revenue | - | - | - | - | - | - | - | - |
Selling, General & Admin | 134.45M | 16.05M | 37.41M | 130.86M | 62.77M | 89.24M | 106.17M | 102.94M |
SG&A % of Revenue | - | - | - | - | - | - | - | - |
Research & Development | 344.67M | 98.46M | 181.49M | 437.07M | 373.28M | 795.87M | 635.07M | 551.31M |
R&D % of Revenue | - | - | - | - | - | - | - | - |
Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.96M |
Operating Income | -479.12M▲ 0% | -114.51M▲ 76.1% | -218.9M▼ 91.2% | -567.93M▼ 159.4% | -436.05M▲ 23.2% | -885.11M▼ 103.0% | -745.38M▲ 15.8% | -654.25M▲ 0% |
Operating Margin % | - | - | - | - | - | - | - | - |
Operating Income Growth % | - | 76.1% | -91.17% | -159.45% | 23.22% | -102.98% | 15.79% | - |
EBITDA | -478.95M | -114.43M | -217.51M | -566.55M | -429.14M | -877.26M | -735.46M | -646.22M |
EBITDA Margin % | - | - | - | - | - | - | - | - |
EBITDA Growth % | - | 76.11% | -90.07% | -160.47% | 24.25% | -104.42% | 16.16% | 29.36% |
D&A (Non-Cash Add-back) | 171.86K | 72K | 1.39M | 1.39M | 6.91M | 7.86M | 9.92M | 8.02M |
EBIT | -541.1M | -114.51M | -218.9M | -567.93M | -436.05M | -885.11M | -737.38M | -660.55M |
Net Interest Income | 0 | 0 | 0 | 0 | 17.73M | 21.33M | 14.59M | 10.38M |
Interest Income | 0 | 0 | 0 | 0 | 17.73M | 21.33M | 14.59M | 10.38M |
Interest Expense | -12.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Income/Expense | -49.26M | -4.16M | 6.47M | -1.91M | 26.5M | 39.42M | 8M | 7.67M |
Pretax Income | -528.39M▲ 0% | -118.67M▲ 77.5% | -212.43M▼ 79.0% | -569.84M▼ 168.2% | -409.55M▲ 28.1% | -845.69M▼ 106.5% | -737.38M▲ 12.8% | -646.57M▲ 0% |
Pretax Margin % | - | - | - | - | - | - | - | - |
Income Tax | 419K | 0 | 1.37M | 438K | -1.38M | 735K | 1.44M | 1.1M |
Effective Tax Rate % | -0.08% | 0% | -0.64% | -0.08% | 0.34% | -0.09% | -0.2% | -0.17% |
Net Income | -528.8M▲ 0% | -118.67M▲ 77.6% | -213.8M▼ 80.2% | -570.28M▼ 166.7% | -408.17M▲ 28.4% | -846.42M▼ 107.4% | -738.82M▲ 12.7% | -647.68M▲ 0% |
Net Margin % | - | - | - | - | - | - | - | - |
Net Income Growth % | - | 77.56% | -80.16% | -166.74% | 28.43% | -107.37% | 12.71% | 27.11% |
Net Income (Continuing) | -528.8M | -118.67M | -213.8M | -570.28M | -408.17M | -846.42M | -738.82M | -647.68M |
Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Minority Interest | 0 | 60M | 60M | 0 | 0 | 0 | 0 | 0 |
EPS (Diluted) | -10.91▲ 0% | -3.31▲ 69.7% | -5.97▼ 80.4% | -12.75▼ 113.6% | -5.73▲ 55.1% | -9.28▼ 62.0% | -6.86▲ 26.1% | -4.39▲ 0% |
EPS Growth % | - | 69.66% | -80.36% | -113.57% | 55.06% | -61.95% | 26.08% | 39.42% |
EPS (Basic) | -10.91 | -3.31 | -5.97 | -12.75 | -5.73 | -9.28 | -6.86 | - |
Diluted Shares Outstanding | 48.49M | 35.82M | 35.82M | 44.74M | 71.2M | 91.23M | 107.62M | 147.62M |
Basic Shares Outstanding | 48.49M | 35.82M | 35.82M | 44.74M | 71.2M | 91.23M | 107.62M | 147.62M |
Dividend Payout Ratio | - | - | - | - | - | - | - | - |
BHVN Balance Sheet
Biohaven Ltd. (BHVN) balance sheet — assets, liabilities & shareholders' equity
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Total Current Assets | 328.28M | 89.76M | 94.82M | 586.97M | 442.45M | 538.47M | 368.33M | 385.65M |
Cash & Short-Term Investments | 316.73M | 82.51M | 76.06M | 465.34M | 381.82M | 485.99M | 319.14M | 347.82M |
Cash Only | 316.73M | 82.51M | 76.06M | 204.88M | 248.4M | 99.13M | 229.96M | 273.07M |
Short-Term Investments | 0 | 0 | 0 | 260.46M | 133.42M | 386.86M | 89.18M | 74.74M |
Accounts Receivable | 0 | 0 | 0 | 46.14M | 13.25M | 2.6M | 0 | 0 |
Days Sales Outstanding | - | - | - | - | - | - | - | - |
Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Days Inventory Outstanding | - | - | - | - | - | - | - | - |
Other Current Assets | 11.55M | 10K | 12.03M | 54.54M | 12.13M | 508K | 49.19M | 37.83M |
Total Non-Current Assets | 15.98M | 21.74M | 47.24M | 74.81M | 70.77M | 76.64M | 83.12M | 80.76M |
Property, Plant & Equipment | 8.15M | 13.56M | 17.68M | 52.44M | 48.58M | 53.71M | 15.96M | 15.26M |
Fixed Asset Turnover | - | - | - | - | - | - | - | 0.00x |
Goodwill | 0 | 0 | 1.39M | 1.39M | 1.39M | 1.39M | 1.39M | 1.39M |
Intangible Assets | 0 | 0 | 18.95M | 18.4M | 18.4M | 18.4M | 18.4M | 18.4M |
Long-Term Investments | 0 | 7.18M | 6M | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Assets | 7.83M | 1.01M | 3.22M | 2.58M | 2.4M | 3.13M | 47.36M | 45.71M |
Total Assets | 344.26M▲ 0% | 111.5M▼ 67.6% | 142.06M▲ 27.4% | 661.78M▲ 365.8% | 513.21M▼ 22.5% | 615.11M▲ 19.9% | 451.45M▼ 26.6% | 466.41M▲ 0% |
Asset Turnover | - | - | - | - | - | - | - | 0.00x |
Asset Growth % | - | -67.61% | 27.41% | 365.84% | -22.45% | 19.85% | -26.61% | -50.37% |
Total Current Liabilities | 66.17M | 29.88M | 41.94M | 90.02M | 55.42M | 154.23M | 115.93M | 52.08M |
Accounts Payable | 14.07M | 2.76M | 4.78M | 10.7M | 15.58M | 18.03M | 11.64M | 10.42M |
Days Payables Outstanding | - | - | - | - | - | - | 1.03K | 2.62K |
Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Current Liabilities | 52.1M | 7.55M | 0 | 14.6M | 0 | 84.71M | 104.29M | 41.65M |
Current Ratio | 4.96x | 3.00x | 2.26x | 6.52x | 7.98x | 3.49x | 3.18x | 7.41x |
Quick Ratio | 4.96x | 3.00x | 2.26x | 6.52x | 7.98x | 3.49x | 3.18x | 7.41x |
Cash Conversion Cycle | - | - | - | - | - | - | - | - |
Total Non-Current Liabilities | 285.51M | 4.84M | 5.43M | 32.99M | 29.81M | 37.45M | 283.44M | 284.83M |
Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 278.86M | 280.27M |
Capital Lease Obligations | 0 | 2.93M | 2.8M | 30.58M | 27.57M | 32.78M | 0 | 70.19M |
Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Current Liabilities | 285.51M | 1.91M | 2.64M | 2.41M | 2.25M | 4.66M | 4.58M | 4.56M |
Total Liabilities | 351.69M | 34.72M | 47.37M | 123.01M | 85.24M | 191.67M | 399.38M | 336.91M |
Total Debt | 0 | 3.6M | 3.24M | 33.6M | 30.88M | 36.58M | 278.86M | 280.27M |
Net Debt | -316.73M | -78.9M | -72.82M | -171.28M | -217.53M | -62.55M | 48.9M | 7.2M |
Debt / Equity | - | 0.05x | 0.03x | 0.06x | 0.07x | 0.09x | 5.36x | 2.16x |
Debt / EBITDA | - | - | - | - | - | - | - | -0.43x |
Net Debt / EBITDA | - | - | - | - | - | - | - | -0.01x |
Interest Coverage | -42.57x | - | - | - | - | - | - | - |
Total Equity | -7.42M▲ 0% | 76.78M▲ 1134.2% | 94.69M▲ 23.3% | 538.77M▲ 469.0% | 427.98M▼ 20.6% | 423.44M▼ 1.1% | 52.07M▼ 87.7% | 129.5M▲ 0% |
Equity Growth % | - | 1134.23% | 23.33% | 468.98% | -20.56% | -1.06% | -87.7% | -308.16% |
Book Value per Share | -0.15 | 2.14 | 2.64 | 12.04 | 6.01 | 4.64 | 0.48 | 0.88 |
Total Shareholders' Equity | -7.42M | 16.78M | 34.69M | 538.77M | 427.98M | 423.44M | 52.07M | 129.5M |
Common Stock | 881.43M | 16.78M | 34.69M | 615.74M | 887.53M | 1.66B | 1.93B | 2.13B |
Retained Earnings | -972.37M | 0 | 0 | -91.12M | -499.29M | -1.35B | -2.08B | -2.22B |
Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Accumulated OCI | 0 | 0 | 0 | 284K | -65K | 79K | 8.35M | 8.3M |
Minority Interest | 0 | 60M | 60M | 0 | 0 | 0 | 0 | 0 |
BHVN Cash Flow Statement
Biohaven Ltd. (BHVN) cash flow — operating, investing & free cash flow history
| Metric | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 | TTM |
|---|---|---|---|---|---|---|---|---|
Cash from Operations | -377.33M | -75.96M | -145.84M | -297.69M | -331.73M | -582.45M | -609.44M | -594.23M |
Operating CF Margin % | - | - | - | - | - | - | - | - |
Operating CF Growth % | - | 79.87% | -92% | -104.12% | -11.43% | -75.58% | -4.63% | 29.46% |
Net Income | -528.8M | -118.67M | -213.8M | -570.28M | -408.17M | -846.42M | -738.82M | -647.68M |
Depreciation & Amortization | 0 | 72K | 1.39M | 1.39M | 6.91M | 7.86M | 9.92M | 10.04M |
Stock-Based Compensation | 54.97M | 29.5M | 65.64M | 193.56M | 28.79M | 71.96M | 112.36M | 87.58M |
Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Non-Cash Items | 93.18M | 4.16M | -740K | 106.25M | 16.13M | 167.34M | 5.74M | 3.17M |
Working Capital Changes | 3.32M | 8.98M | 1.66M | -28.6M | 24.61M | 16.81M | 1.36M | -47.35M |
Change in Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Change in Payables | 3.32M | 222K | 1.02M | 5.93M | 4.87M | 710K | -6.39M | -7.7M |
Cash from Investing | -3.78M | -2.7M | 944K | -304.79M | 129.83M | -244.97M | 300.56M | 150.89M |
Capital Expenditures | -2.53M | -2.7M | -938K | -41.07M | -3.05M | -4.05M | -715K | -254K |
CapEx % of Revenue | - | - | - | - | - | - | - | - |
Acquisitions | 0 | 0 | 1.88M | 0 | 0 | 391K | 0 | 0 |
Investments | - | - | - | - | - | - | - | - |
Other Investing | -1.25M | 0 | 0 | 0 | 0 | 0 | -1.85M | -1.85M |
Cash from Financing | 434.59M | 152.24M | 138.45M | 767.6M | 211.91M | 677.77M | 439.12M | 617.76M |
Debt Issued (Net) | 0 | 0 | 0 | 449.13M | 0 | 0 | 250M | 250M |
Equity Issued (Net) | 0 | 0 | 0 | 283.8M | 243.22M | 675.52M | 189.31M | 367.84M |
Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Other Financing | 434.59M | 152.24M | 138.45M | 34.66M | -31.32M | 2.26M | -194K | -72K |
Net Change in Cash | 53.48M▲ 0% | 73.59M▲ 37.6% | -6.45M▼ 108.8% | 165.55M▲ 2667.0% | 9.52M▼ 94.3% | -149.58M▼ 1671.9% | 130.24M▲ 187.1% | 174.42M▲ 0% |
Free Cash Flow | -379.87M▲ 0% | -78.65M▲ 79.3% | -146.78M▼ 86.6% | -338.76M▼ 130.8% | -334.77M▲ 1.2% | -586.5M▼ 75.2% | -610.15M▼ 4.0% | -594.49M▲ 0% |
FCF Margin % | - | - | - | - | - | - | - | - |
FCF Growth % | - | 79.29% | -86.61% | -130.8% | 1.18% | -75.19% | -4.03% | 8.4% |
FCF per Share | -7.83 | -2.20 | -4.10 | -7.57 | -4.70 | -6.43 | -5.67 | -4.03 |
FCF Conversion (FCF/Net Income) | 0.71x | 0.64x | 0.68x | 0.52x | 0.81x | 0.69x | 0.82x | 0.92x |
Interest Paid | 0 | 0 | 107K | 0 | 0 | 0 | 0 | 0 |
Taxes Paid | 0 | 2.76M | 16.59M | 38.16M | 0 | 0 | 0 | 0 |
BHVN Key Ratios
Biohaven Ltd. (BHVN) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|
Return on Equity (ROE) | -342.19% | -249.37% | -180.05% | -84.44% | -198.83% | -310.75% | -866.46% |
Return on Invested Capital (ROIC) | - | -1662.62% | -218.79% | -113.17% | -232.38% | -242.08% | -321.66% |
Debt / Equity | 0.05x | 0.03x | 0.06x | 0.07x | 0.09x | 5.36x | 2.16x |
FCF Conversion | 0.64x | 0.68x | 0.52x | 0.81x | 0.69x | 0.82x | 0.92x |
Related:BHVN Dividend History·BHVN Revenue History·BHVN Price History·BHVN P/E History·BHVN Financial Ratios·BHVN Institutional Holders
BHVN SEC Filings & Documents
Biohaven Ltd. (BHVN) SEC filings — annual & quarterly reports (10-K, 10-Q)
BHVN Frequently Asked Questions
Biohaven Ltd. (BHVN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Biohaven Ltd. (BHVN) grew revenue by 0.0% over the past year. Growth has been modest.
Biohaven Ltd. (BHVN) reported a net loss of $647.7M for fiscal year 2025.
Dividend & Returns
Biohaven Ltd. (BHVN) has a return on equity (ROE) of -310.8%. Negative ROE indicates the company is unprofitable.
Biohaven Ltd. (BHVN) had negative free cash flow of $594.5M in fiscal year 2025, likely due to heavy capital investments.