Corcept Therapeutics Incorporated (CORT) 10-Year Financial Performance & Capital Metrics

CORT •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

AboutCorcept Therapeutics Incorporated discovers, develops, and commercializes drugs for the treatment of severe metabolic, oncologic, and neuropsychiatric disorders in the United States. The company offers Korlym (mifepristone) tablets as a once-daily oral medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous Cushing's syndrome, who have type 2 diabetes mellitus or glucose intolerance, and have failed surgery or are not candidates for surgery. It is developing relacorilant to treat patients with Cushing's syndrome; and nab-paclitaxel in combination with relacorilant, which has completed Phase II clinical trial to treat patients with advanced ovarian tumors, as well as for the treatment of cortisol excess. The company is also developing selective cortisol modulator to treat patients with metastatic castration-resistant prostate cancer; selective cortisol modulator for the treatment of antipsychotic-induced weight gain and other disorders; and FKBP5 gene expression assays. Corcept Therapeutics Incorporated was incorporated in 1998 and is headquartered in Menlo Park, California.Show more

Revenue $761M +12.8%
EBITDA $47M -66.2%
Net Income $100M -28.7%
EPS (Diluted) 0.82 -33.3%
Gross Margin 98.3%
EBITDA Margin 6.13% -70.1%
Operating Margin 5.88% -71.0%
Net Margin 13.09% -36.8%
ROE 15.01% -36.3%
ROIC 6.15% -72.1%
Debt/Equity 0.01 -7.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 18.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.6%
✓Good 3Y average ROE of 19.9%
✓Healthy 5Y average net margin of 22.4%

✗Weaknesses

✗Weak momentum: RS Rating 6 (bottom 6%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y31.23%

5Y16.56%

3Y23.74%

TTM12.79%

Profit (Net Income) CAGR

10Y-

5Y-1.23%

3Y-0.58%

TTM-29.39%

EPS CAGR

10Y-

5Y-0.72%

3Y-1.95%

TTM-33.87%

ROCE

10Y Avg27.78%

5Y Avg20.59%

3Y Avg16.64%

Latest6.54%

Peer Comparison

Commercial Rare Disease Biopharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORTCorcept Therapeutics Incorporated	3.78B	35.70	43.54	12.79%	13.01%	15.3%	3.75%	0.01
BMRNBioMarin Pharmaceutical Inc.	11.86B	61.73	34.29		10.83%	5.73%	6.11%	0.10
VRTXVertex Pharmaceuticals Incorporated	126.19B	496.83	32.43	8.9%	31.35%	21.22%	2.53%	0.20
CPRXCatalyst Pharmaceuticals, Inc.	2.83B	23.08	13.74	19.78%	36.39%	22.46%	7.38%	0.00
HRMYHarmony Biosciences Holdings, Inc.	1.65B	28.54	10.53	21.51%	18.27%	18.24%	21.12%	0.02
PTCTPTC Therapeutics, Inc.	5.45B	68.19	8.76	114.51%	42.25%
BCRXBioCryst Pharmaceuticals, Inc.	1.86B	8.75	7.23	94.1%	30.16%		18.63%
RAREUltragenyx Pharmaceutical Inc.	2.26B	23.39	-3.72	29.01%	-91.95%	-35.88%		0.15

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	81.32M	159.2M	251.25M	306.49M	353.87M	365.98M	401.86M	482.38M	675.04M	761.41M
Revenue Growth %	61.72%	95.77%	57.82%	21.99%	15.46%	3.42%	9.8%	20.04%	39.94%	12.79%
Cost of Goods Sold+	2.06M	3.55M	5.21M	5.5M	5.58M	5.28M	5.38M	6.48M	10.88M	12.98M
COGS % of Revenue	2.53%	2.23%	2.08%	1.8%	1.58%	1.44%	1.34%	1.34%	1.61%	1.7%
Gross Profit+	79.26M	155.65M	246.03M	300.98M	348.29M	360.7M	396.47M	475.89M	664.16M	748.43M
Gross Margin %	97.47%	97.77%	97.92%	98.2%	98.42%	98.56%	98.66%	98.66%	98.39%	98.3%
Gross Profit Growth %	62.01%	96.37%	58.07%	22.33%	15.72%	3.56%	9.92%	20.03%	39.56%	12.69%
Operating Expenses+	69.08M	102.79M	156.54M	189.38M	220.09M	236.22M	283.84M	368.61M	527.21M	703.63M
OpEx % of Revenue	84.95%	64.57%	62.3%	61.79%	62.19%	64.54%	70.63%	76.42%	78.1%	92.41%
Selling, General & Admin	45.24M	62.42M	81.29M	100.36M	105.33M	122.36M	152.85M	184.26M	280.32M	448.73M
SG&A % of Revenue	55.63%	39.21%	32.35%	32.75%	29.76%	33.43%	38.04%	38.2%	41.53%	58.93%
Research & Development	23.84M	40.38M	75.25M	89.02M	114.76M	113.86M	130.99M	184.35M	246.89M	254.91M
R&D % of Revenue	29.32%	25.36%	29.95%	29.04%	32.43%	31.11%	32.6%	38.22%	36.57%	33.48%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	10.18M	52.85M	89.5M	111.61M	128.2M	124.48M	112.63M	107.28M	136.95M	44.8M
Operating Margin %	12.52%	33.2%	35.62%	36.41%	36.23%	34.01%	28.03%	22.24%	20.29%	5.88%
Operating Income Growth %	395.64%	419.26%	69.32%	24.7%	14.87%	-2.91%	-9.51%	-4.75%	27.66%	-67.29%
EBITDA+	10.27M	52.96M	89.73M	113.78M	130.44M	127.54M	113.89M	108.32M	138.29M	46.69M
EBITDA Margin %	12.62%	33.27%	35.71%	37.12%	36.86%	34.85%	28.34%	22.46%	20.49%	6.13%
EBITDA Growth %	412.23%	415.89%	69.43%	26.8%	14.64%	-2.22%	-10.7%	-4.89%	27.66%	-66.24%
D&A (Non-Cash Add-back)	87K	106K	236K	2.17M	2.24M	3.07M	1.26M	1.04M	1.34M	1.89M
EBIT	10.07M	52.85M	89.5M	111.61M	128.2M	125.01M	112.63M	107.28M	136.95M	66.46M
Net Interest Income+	-2.04M	-49K	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	0
Interest Income	0	0	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	0
Interest Expense	2.04M	49K	0	0	0	0	0	0	0	0
Other Income/Expense	-2.04M	-49K	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	21.67M
Pretax Income+	8.14M	52.81M	92.15M	116.68M	131.6M	125.01M	116.19M	124.56M	161.49M	66.46M
Pretax Margin %	10.01%	33.17%	36.68%	38.07%	37.19%	34.16%	28.91%	25.82%	23.92%	8.73%
Income Tax+	0	-76.32M	16.74M	22.5M	25.59M	12.49M	14.77M	18.42M	20.28M	-33.19M
Effective Tax Rate %	100%	244.52%	81.83%	80.72%	80.55%	90.01%	87.29%	85.21%	86.53%	149.94%
Net Income+	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	139.73M	99.65M
Net Margin %	10.01%	81.11%	30.01%	30.73%	29.96%	30.74%	25.24%	22%	20.7%	13.09%
Net Income Growth %	227.03%	1486.27%	-41.6%	24.89%	12.56%	6.13%	-9.86%	4.66%	31.65%	-28.68%
Net Income (Continuing)	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	141.21M	99.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.07	1.04	0.60	0.77	0.85	0.89	0.87	0.94	1.23	0.82
EPS Growth %	216.67%	1385.71%	-42.31%	28.33%	10.39%	4.71%	-2.25%	8.05%	30.85%	-33.33%
EPS (Basic)	0.07	1.14	0.60	0.82	0.92	0.97	0.95	1.02	1.35	0.95
Diluted Shares Outstanding	116.14M	124.52M	126.69M	122.57M	124.19M	125.96M	115.97M	111.74M	113.48M	119.99M
Basic Shares Outstanding	110.57M	113.53M	125.68M	114.35M	115.41M	115.65M	106.79M	103.56M	103.23M	103.86M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	65.69M	140.6M	240.59M	307.36M	478.5M	266.46M	499.25M	458.64M	471.6M	485.46M
Cash & Short-Term Investments	51.54M	104.03M	206.76M	275.96M	440.7M	223.53M	431.67M	368.22M	383.33M	372.15M
Cash Only	51.54M	104.03M	206.76M	31.27M	76.19M	77.62M	66.33M	135.55M	127.67M	120.5M
Short-Term Investments	0	0	0	244.69M	364.51M	145.92M	365.34M	232.67M	255.67M	251.66M
Accounts Receivable	9.86M	28.2M	17.59M	19.93M	26.2M	29.02M	46.86M	56.82M	58.08M	59.79M
Days Sales Outstanding	44.26	64.64	25.55	23.73	27.02	28.95	42.56	43	31.4	28.66
Inventory	2.33M	8.38M	16.24M	5.42M	4.91M	4.99M	6.1M	7.73M	12.41M	12.87M
Days Inventory Outstanding	413.06	860.23	1.14K	359.69	321.06	344.75	413.46	435.34	416.32	361.93
Other Current Assets	1.96M	2.67M	7.74M	6.04M	6.7M	8.91M	14.62M	25.86M	8.29M	40.66M
Total Non-Current Assets+	3.06M	79.94M	71.1M	104.95M	93.23M	157.29M	84.18M	162.88M	368.95M	351.19M
Property, Plant & Equipment	205K	518K	655K	4.5M	4.18M	1.52M	1.78M	315K	8.01M	6.47M
Fixed Asset Turnover	396.69x	307.34x	383.58x	68.17x	84.58x	241.41x	226.27x	1531.35x	84.24x	117.63x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	15.28M	0	39.35M	36.2M	112.28M	4.95M	57.18M	219.83M	0
Other Non-Current Assets	2.86M	3.24M	7.79M	15.43M	21.25M	16.05M	15.99M	14.79M	10.19M	176.52M
Total Assets+	68.75M	220.54M	311.69M	412.31M	571.73M	423.76M	583.43M	621.52M	840.55M	836.65M
Asset Turnover	1.18x	0.72x	0.81x	0.74x	0.62x	0.86x	0.69x	0.78x	0.80x	0.91x
Asset Growth %	32.38%	220.77%	41.33%	32.28%	38.66%	-25.88%	37.68%	6.53%	35.24%	-0.46%
Total Current Liabilities+	27.37M	29.57M	35.81M	38.84M	47.49M	47.54M	72.49M	104.5M	140.77M	166.09M
Accounts Payable	2.29M	8.58M	8.27M	7.54M	10.55M	6.91M	11.98M	17.4M	15.38M	40.44M
Days Payables Outstanding	406.15	881.07	578.54	499.82	690.11	477.45	811.74	979.72	515.74	1.14K
Short-Term Debt	14.66M	0	0	1.56M	2.05M	526K	1.14M	151K	829K	1.08M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	5.72M	12.42M	17.89M	16.94M	24.75M	26.25M	43.77M	59.69M	82.65M	124.56M
Current Ratio	2.40x	4.75x	6.72x	7.91x	10.07x	5.60x	6.89x	4.39x	3.35x	2.92x
Quick Ratio	2.31x	4.47x	6.26x	7.77x	9.97x	5.50x	6.80x	4.31x	3.26x	2.85x
Cash Conversion Cycle	51.17	43.8	583.79	-116.39	-342.03	-103.75	-355.72	-501.38	-68.02	-746.96
Total Non-Current Liabilities+	0	0	239K	2.29M	899K	409K	9.1M	10.31M	20.19M	22.76M
Long-Term Debt	0	0	0	0	0	0	0	0	0	5.02M
Capital Lease Obligations	0	0	0	1.9M	501K	0	0	0	6.11M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	239K	386K	398K	409K	9.1M	10.31M	14.08M	17.74M
Total Liabilities	27.37M	29.57M	35.81M	41.13M	48.39M	47.95M	81.59M	114.81M	160.96M	188.85M
Total Debt+	14.66M	0	0	3.46M	2.55M	526K	1.14M	151K	6.94M	6.11M
Net Debt	-36.87M	-104.03M	-206.76M	-27.81M	-73.64M	-77.09M	-65.19M	-135.4M	-120.73M	-114.39M
Debt / Equity	0.35x	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.01x	0.01x
Debt / EBITDA	1.43x	-	-	0.03x	0.02x	0.00x	0.01x	0.00x	0.05x	0.13x
Net Debt / EBITDA	-3.59x	-1.96x	-2.30x	-0.24x	-0.56x	-0.60x	-0.57x	-1.25x	-0.87x	-2.45x
Interest Coverage	4.99x	1078.67x	-	-	-	-	-	-	-	-
Total Equity+	41.38M	190.97M	275.88M	371.18M	523.34M	375.81M	501.84M	506.7M	679.59M	647.8M
Equity Growth %	123.69%	361.51%	44.46%	34.54%	40.99%	-28.19%	33.54%	0.97%	34.12%	-4.68%
Book Value per Share	0.36	1.53	2.18	3.03	4.21	2.98	4.33	4.53	5.99	5.40
Total Shareholders' Equity	41.38M	190.97M	275.88M	371.18M	523.34M	375.81M	501.84M	506.7M	679.59M	647.8M
Common Stock	113K	115K	117K	120K	122K	127K	131K	133K	136K	140K
Retained Earnings	-322.27M	-193.15M	-117.74M	-23.55M	82.46M	194.97M	296.39M	402.53M	543.74M	643.39M
Treasury Stock	0	0	-23.66M	-62.7M	-75.8M	-410.41M	-456.15M	-635.08M	-696.17M	0
Accumulated OCI	-452K	-75K	-70K	261K	415K	-227K	-869K	609K	-217K	2.26M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	18.39M	60.94M	115.67M	136.12M	151.97M	167.89M	120.32M	127.04M	198.07M	142M
Operating CF Margin %	22.62%	38.28%	46.04%	44.41%	42.94%	45.87%	29.94%	26.34%	29.34%	18.65%
Operating CF Growth %	487.57%	231.33%	89.82%	17.68%	11.65%	10.48%	-28.33%	5.58%	55.91%	-28.31%
Net Income	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	141.21M	98.17M
Depreciation & Amortization	87K	106K	236K	2.17M	2.24M	3.07M	3.45M	2.36M	1.34M	1.89M
Stock-Based Compensation	7.06M	13.36M	23.75M	29.31M	33.54M	42.93M	42.44M	48.94M	61.35M	84.5M
Deferred Taxes	0	-76.7M	14.07M	16.88M	14.09M	4.35M	-33.91M	-29.49M	-40.19M	0
Other Non-Cash Items	1.95M	763K	-1.72M	-1.74M	1.45M	5.09M	1.38M	-9.13M	-10.94M	-15M
Working Capital Changes	1.16M	-5.71M	3.93M	-4.69M	-5.36M	-57K	5.54M	8.22M	45.3M	-27.57M
Change in Receivables	-3.64M	-5.44M	-2.29M	-2.34M	-6.27M	-1.43M	-17.43M	-10.07M	1.15M	-5.81M
Change in Inventory	-682K	-2.26M	-7.78M	-1.04M	-3.51M	3.44M	1.2M	1.26M	305K	-7.48M
Change in Payables	965K	6.29M	-389K	-735K	3.16M	-3.6M	4.76M	5.78M	-2.25M	25.07M
Cash from Investing+	-194K	-73.46M	-90.77M	-117.83M	-119.26M	136.13M	-114.33M	90.91M	-177.6M	69.76M
Capital Expenditures	-194K	-419K	-298K	-1.09M	-1.24M	-469K	-413K	-139K	-2.17M	-211K
CapEx % of Revenue	0.24%	0.26%	0.12%	0.36%	0.35%	0.13%	0.1%	0.03%	0.32%	0.03%
Acquisitions	0	0	0	116.74M	118.03M	-136.59M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-73.04M	-90.47M	-116.74M	-118.03M	136.59M	0	0	0	0
Cash from Financing+	-7.1M	-7.95M	-14.34M	-28.64M	12.21M	-302.59M	-17.28M	-148.72M	-28.35M	-220.37M
Debt Issued (Net)	-14.78M	-15.13M	0	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	-1000K	-1000K	-1000K	-1000K	0	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-23.66M	-30.98M	-9.95M	-295.99M	0	-145.43M	-15.66M	-245.86M
Other Financing	7.68M	7.18M	9.32M	2.33M	22.16M	-6.61M	-17.28M	-3.29M	-22.3M	25.49M
Net Change in Cash	11.1M	-20.47M	10.56M	-10.36M	44.92M	1.43M	-11.29M	69.22M	-7.89M	-7.17M
Free Cash Flow+	18.2M	60.52M	115.37M	135.03M	150.73M	167.42M	119.91M	126.9M	195.9M	141.78M
FCF Margin %	22.38%	38.01%	45.92%	44.06%	42.59%	45.75%	29.84%	26.31%	29.02%	18.62%
FCF Growth %	484.55%	232.56%	90.64%	17.04%	11.63%	11.07%	-28.38%	5.83%	54.37%	-27.62%
FCF per Share	0.16	0.49	0.91	1.10	1.21	1.33	1.03	1.14	1.73	1.18
FCF Conversion (FCF/Net Income)	2.26x	0.47x	1.53x	1.45x	1.43x	1.49x	1.19x	1.20x	1.42x	1.42x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	40K	377K	1.35M	6.74M	10.86M	9.1M	39.75M	47.6M	60.27M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	27.19%	111.15%	32.31%	29.11%	23.7%	25.03%	23.11%	21.05%	23.56%	15.01%
Return on Invested Capital (ROIC)	-	86.69%	86.02%	40.58%	24.25%	24.95%	22.97%	19.92%	22.09%	6.15%
Gross Margin	97.47%	97.77%	97.92%	98.2%	98.42%	98.56%	98.66%	98.66%	98.39%	98.3%
Net Margin	10.01%	81.11%	30.01%	30.73%	29.96%	30.74%	25.24%	22%	20.7%	13.09%
Debt / Equity	0.35x	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.01x	0.01x
Interest Coverage	4.99x	1078.67x	-	-	-	-	-	-	-	-
FCF Conversion	2.26x	0.47x	1.53x	1.45x	1.43x	1.49x	1.19x	1.20x	1.42x	1.42x
Revenue Growth	61.72%	95.77%	57.82%	21.99%	15.46%	3.42%	9.8%	20.04%	39.94%	12.79%

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Corcept Therapeutics Incorporated (CORT) 10-Year Financial Performance & Capital Metrics

CORT •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

Revenue $761M +12.8%
EBITDA $47M -66.2%
Net Income $100M -28.7%
EPS (Diluted) 0.82 -33.3%
Gross Margin 98.3%
EBITDA Margin 6.13% -70.1%
Operating Margin 5.88% -71.0%
Net Margin 13.09% -36.8%
ROE 15.01% -36.3%
ROIC 6.15% -72.1%
Debt/Equity 0.01 -7.6%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓FCF machine: 18.6% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 16.6%
✓Good 3Y average ROE of 19.9%
✓Healthy 5Y average net margin of 22.4%

✗Weaknesses

✗Weak momentum: RS Rating 6 (bottom 6%)
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y31.23%

5Y16.56%

3Y23.74%

TTM12.79%

Profit (Net Income) CAGR

10Y-

5Y-1.23%

3Y-0.58%

TTM-29.39%

EPS CAGR

10Y-

5Y-0.72%

3Y-1.95%

TTM-33.87%

ROCE

10Y Avg27.78%

5Y Avg20.59%

3Y Avg16.64%

Latest6.54%

Peer Comparison

Commercial Rare Disease Biopharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORTCorcept Therapeutics Incorporated	3.78B	35.70	43.54	12.79%	13.01%	15.3%	3.75%	0.01
BMRNBioMarin Pharmaceutical Inc.	11.86B	61.73	34.29		10.83%	5.73%	6.11%	0.10
VRTXVertex Pharmaceuticals Incorporated	126.19B	496.83	32.43	8.9%	31.35%	21.22%	2.53%	0.20
CPRXCatalyst Pharmaceuticals, Inc.	2.83B	23.08	13.74	19.78%	36.39%	22.46%	7.38%	0.00
HRMYHarmony Biosciences Holdings, Inc.	1.65B	28.54	10.53	21.51%	18.27%	18.24%	21.12%	0.02
PTCTPTC Therapeutics, Inc.	5.45B	68.19	8.76	114.51%	42.25%
BCRXBioCryst Pharmaceuticals, Inc.	1.86B	8.75	7.23	94.1%	30.16%		18.63%
RAREUltragenyx Pharmaceutical Inc.	2.26B	23.39	-3.72	29.01%	-91.95%	-35.88%		0.15

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	81.32M	159.2M	251.25M	306.49M	353.87M	365.98M	401.86M	482.38M	675.04M	761.41M
Revenue Growth %	61.72%	95.77%	57.82%	21.99%	15.46%	3.42%	9.8%	20.04%	39.94%	12.79%
Cost of Goods Sold+	2.06M	3.55M	5.21M	5.5M	5.58M	5.28M	5.38M	6.48M	10.88M	12.98M
COGS % of Revenue	2.53%	2.23%	2.08%	1.8%	1.58%	1.44%	1.34%	1.34%	1.61%	1.7%
Gross Profit+	79.26M	155.65M	246.03M	300.98M	348.29M	360.7M	396.47M	475.89M	664.16M	748.43M
Gross Margin %	97.47%	97.77%	97.92%	98.2%	98.42%	98.56%	98.66%	98.66%	98.39%	98.3%
Gross Profit Growth %	62.01%	96.37%	58.07%	22.33%	15.72%	3.56%	9.92%	20.03%	39.56%	12.69%
Operating Expenses+	69.08M	102.79M	156.54M	189.38M	220.09M	236.22M	283.84M	368.61M	527.21M	703.63M
OpEx % of Revenue	84.95%	64.57%	62.3%	61.79%	62.19%	64.54%	70.63%	76.42%	78.1%	92.41%
Selling, General & Admin	45.24M	62.42M	81.29M	100.36M	105.33M	122.36M	152.85M	184.26M	280.32M	448.73M
SG&A % of Revenue	55.63%	39.21%	32.35%	32.75%	29.76%	33.43%	38.04%	38.2%	41.53%	58.93%
Research & Development	23.84M	40.38M	75.25M	89.02M	114.76M	113.86M	130.99M	184.35M	246.89M	254.91M
R&D % of Revenue	29.32%	25.36%	29.95%	29.04%	32.43%	31.11%	32.6%	38.22%	36.57%	33.48%
Other Operating Expenses	0	0	0	0	0	0	0	0	0	0
Operating Income+	10.18M	52.85M	89.5M	111.61M	128.2M	124.48M	112.63M	107.28M	136.95M	44.8M
Operating Margin %	12.52%	33.2%	35.62%	36.41%	36.23%	34.01%	28.03%	22.24%	20.29%	5.88%
Operating Income Growth %	395.64%	419.26%	69.32%	24.7%	14.87%	-2.91%	-9.51%	-4.75%	27.66%	-67.29%
EBITDA+	10.27M	52.96M	89.73M	113.78M	130.44M	127.54M	113.89M	108.32M	138.29M	46.69M
EBITDA Margin %	12.62%	33.27%	35.71%	37.12%	36.86%	34.85%	28.34%	22.46%	20.49%	6.13%
EBITDA Growth %	412.23%	415.89%	69.43%	26.8%	14.64%	-2.22%	-10.7%	-4.89%	27.66%	-66.24%
D&A (Non-Cash Add-back)	87K	106K	236K	2.17M	2.24M	3.07M	1.26M	1.04M	1.34M	1.89M
EBIT	10.07M	52.85M	89.5M	111.61M	128.2M	125.01M	112.63M	107.28M	136.95M	66.46M
Net Interest Income+	-2.04M	-49K	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	0
Interest Income	0	0	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	0
Interest Expense	2.04M	49K	0	0	0	0	0	0	0	0
Other Income/Expense	-2.04M	-49K	2.66M	5.07M	3.4M	529K	3.56M	17.27M	24.54M	21.67M
Pretax Income+	8.14M	52.81M	92.15M	116.68M	131.6M	125.01M	116.19M	124.56M	161.49M	66.46M
Pretax Margin %	10.01%	33.17%	36.68%	38.07%	37.19%	34.16%	28.91%	25.82%	23.92%	8.73%
Income Tax+	0	-76.32M	16.74M	22.5M	25.59M	12.49M	14.77M	18.42M	20.28M	-33.19M
Effective Tax Rate %	100%	244.52%	81.83%	80.72%	80.55%	90.01%	87.29%	85.21%	86.53%	149.94%
Net Income+	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	139.73M	99.65M
Net Margin %	10.01%	81.11%	30.01%	30.73%	29.96%	30.74%	25.24%	22%	20.7%	13.09%
Net Income Growth %	227.03%	1486.27%	-41.6%	24.89%	12.56%	6.13%	-9.86%	4.66%	31.65%	-28.68%
Net Income (Continuing)	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	141.21M	99.65M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	0.07	1.04	0.60	0.77	0.85	0.89	0.87	0.94	1.23	0.82
EPS Growth %	216.67%	1385.71%	-42.31%	28.33%	10.39%	4.71%	-2.25%	8.05%	30.85%	-33.33%
EPS (Basic)	0.07	1.14	0.60	0.82	0.92	0.97	0.95	1.02	1.35	0.95
Diluted Shares Outstanding	116.14M	124.52M	126.69M	122.57M	124.19M	125.96M	115.97M	111.74M	113.48M	119.99M
Basic Shares Outstanding	110.57M	113.53M	125.68M	114.35M	115.41M	115.65M	106.79M	103.56M	103.23M	103.86M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	65.69M	140.6M	240.59M	307.36M	478.5M	266.46M	499.25M	458.64M	471.6M	485.46M
Cash & Short-Term Investments	51.54M	104.03M	206.76M	275.96M	440.7M	223.53M	431.67M	368.22M	383.33M	372.15M
Cash Only	51.54M	104.03M	206.76M	31.27M	76.19M	77.62M	66.33M	135.55M	127.67M	120.5M
Short-Term Investments	0	0	0	244.69M	364.51M	145.92M	365.34M	232.67M	255.67M	251.66M
Accounts Receivable	9.86M	28.2M	17.59M	19.93M	26.2M	29.02M	46.86M	56.82M	58.08M	59.79M
Days Sales Outstanding	44.26	64.64	25.55	23.73	27.02	28.95	42.56	43	31.4	28.66
Inventory	2.33M	8.38M	16.24M	5.42M	4.91M	4.99M	6.1M	7.73M	12.41M	12.87M
Days Inventory Outstanding	413.06	860.23	1.14K	359.69	321.06	344.75	413.46	435.34	416.32	361.93
Other Current Assets	1.96M	2.67M	7.74M	6.04M	6.7M	8.91M	14.62M	25.86M	8.29M	40.66M
Total Non-Current Assets+	3.06M	79.94M	71.1M	104.95M	93.23M	157.29M	84.18M	162.88M	368.95M	351.19M
Property, Plant & Equipment	205K	518K	655K	4.5M	4.18M	1.52M	1.78M	315K	8.01M	6.47M
Fixed Asset Turnover	396.69x	307.34x	383.58x	68.17x	84.58x	241.41x	226.27x	1531.35x	84.24x	117.63x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	15.28M	0	39.35M	36.2M	112.28M	4.95M	57.18M	219.83M	0
Other Non-Current Assets	2.86M	3.24M	7.79M	15.43M	21.25M	16.05M	15.99M	14.79M	10.19M	176.52M
Total Assets+	68.75M	220.54M	311.69M	412.31M	571.73M	423.76M	583.43M	621.52M	840.55M	836.65M
Asset Turnover	1.18x	0.72x	0.81x	0.74x	0.62x	0.86x	0.69x	0.78x	0.80x	0.91x
Asset Growth %	32.38%	220.77%	41.33%	32.28%	38.66%	-25.88%	37.68%	6.53%	35.24%	-0.46%
Total Current Liabilities+	27.37M	29.57M	35.81M	38.84M	47.49M	47.54M	72.49M	104.5M	140.77M	166.09M
Accounts Payable	2.29M	8.58M	8.27M	7.54M	10.55M	6.91M	11.98M	17.4M	15.38M	40.44M
Days Payables Outstanding	406.15	881.07	578.54	499.82	690.11	477.45	811.74	979.72	515.74	1.14K
Short-Term Debt	14.66M	0	0	1.56M	2.05M	526K	1.14M	151K	829K	1.08M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0	0	0
Other Current Liabilities	5.72M	12.42M	17.89M	16.94M	24.75M	26.25M	43.77M	59.69M	82.65M	124.56M
Current Ratio	2.40x	4.75x	6.72x	7.91x	10.07x	5.60x	6.89x	4.39x	3.35x	2.92x
Quick Ratio	2.31x	4.47x	6.26x	7.77x	9.97x	5.50x	6.80x	4.31x	3.26x	2.85x
Cash Conversion Cycle	51.17	43.8	583.79	-116.39	-342.03	-103.75	-355.72	-501.38	-68.02	-746.96
Total Non-Current Liabilities+	0	0	239K	2.29M	899K	409K	9.1M	10.31M	20.19M	22.76M
Long-Term Debt	0	0	0	0	0	0	0	0	0	5.02M
Capital Lease Obligations	0	0	0	1.9M	501K	0	0	0	6.11M	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	239K	386K	398K	409K	9.1M	10.31M	14.08M	17.74M
Total Liabilities	27.37M	29.57M	35.81M	41.13M	48.39M	47.95M	81.59M	114.81M	160.96M	188.85M
Total Debt+	14.66M	0	0	3.46M	2.55M	526K	1.14M	151K	6.94M	6.11M
Net Debt	-36.87M	-104.03M	-206.76M	-27.81M	-73.64M	-77.09M	-65.19M	-135.4M	-120.73M	-114.39M
Debt / Equity	0.35x	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.01x	0.01x
Debt / EBITDA	1.43x	-	-	0.03x	0.02x	0.00x	0.01x	0.00x	0.05x	0.13x
Net Debt / EBITDA	-3.59x	-1.96x	-2.30x	-0.24x	-0.56x	-0.60x	-0.57x	-1.25x	-0.87x	-2.45x
Interest Coverage	4.99x	1078.67x	-	-	-	-	-	-	-	-
Total Equity+	41.38M	190.97M	275.88M	371.18M	523.34M	375.81M	501.84M	506.7M	679.59M	647.8M
Equity Growth %	123.69%	361.51%	44.46%	34.54%	40.99%	-28.19%	33.54%	0.97%	34.12%	-4.68%
Book Value per Share	0.36	1.53	2.18	3.03	4.21	2.98	4.33	4.53	5.99	5.40
Total Shareholders' Equity	41.38M	190.97M	275.88M	371.18M	523.34M	375.81M	501.84M	506.7M	679.59M	647.8M
Common Stock	113K	115K	117K	120K	122K	127K	131K	133K	136K	140K
Retained Earnings	-322.27M	-193.15M	-117.74M	-23.55M	82.46M	194.97M	296.39M	402.53M	543.74M	643.39M
Treasury Stock	0	0	-23.66M	-62.7M	-75.8M	-410.41M	-456.15M	-635.08M	-696.17M	0
Accumulated OCI	-452K	-75K	-70K	261K	415K	-227K	-869K	609K	-217K	2.26M
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	18.39M	60.94M	115.67M	136.12M	151.97M	167.89M	120.32M	127.04M	198.07M	142M
Operating CF Margin %	22.62%	38.28%	46.04%	44.41%	42.94%	45.87%	29.94%	26.34%	29.34%	18.65%
Operating CF Growth %	487.57%	231.33%	89.82%	17.68%	11.65%	10.48%	-28.33%	5.58%	55.91%	-28.31%
Net Income	8.14M	129.12M	75.41M	94.18M	106.01M	112.51M	101.42M	106.14M	141.21M	98.17M
Depreciation & Amortization	87K	106K	236K	2.17M	2.24M	3.07M	3.45M	2.36M	1.34M	1.89M
Stock-Based Compensation	7.06M	13.36M	23.75M	29.31M	33.54M	42.93M	42.44M	48.94M	61.35M	84.5M
Deferred Taxes	0	-76.7M	14.07M	16.88M	14.09M	4.35M	-33.91M	-29.49M	-40.19M	0
Other Non-Cash Items	1.95M	763K	-1.72M	-1.74M	1.45M	5.09M	1.38M	-9.13M	-10.94M	-15M
Working Capital Changes	1.16M	-5.71M	3.93M	-4.69M	-5.36M	-57K	5.54M	8.22M	45.3M	-27.57M
Change in Receivables	-3.64M	-5.44M	-2.29M	-2.34M	-6.27M	-1.43M	-17.43M	-10.07M	1.15M	-5.81M
Change in Inventory	-682K	-2.26M	-7.78M	-1.04M	-3.51M	3.44M	1.2M	1.26M	305K	-7.48M
Change in Payables	965K	6.29M	-389K	-735K	3.16M	-3.6M	4.76M	5.78M	-2.25M	25.07M
Cash from Investing+	-194K	-73.46M	-90.77M	-117.83M	-119.26M	136.13M	-114.33M	90.91M	-177.6M	69.76M
Capital Expenditures	-194K	-419K	-298K	-1.09M	-1.24M	-469K	-413K	-139K	-2.17M	-211K
CapEx % of Revenue	0.24%	0.26%	0.12%	0.36%	0.35%	0.13%	0.1%	0.03%	0.32%	0.03%
Acquisitions	0	0	0	116.74M	118.03M	-136.59M	0	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-73.04M	-90.47M	-116.74M	-118.03M	136.59M	0	0	0	0
Cash from Financing+	-7.1M	-7.95M	-14.34M	-28.64M	12.21M	-302.59M	-17.28M	-148.72M	-28.35M	-220.37M
Debt Issued (Net)	-14.78M	-15.13M	0	0	0	0	0	0	0	0
Equity Issued (Net)	0	0	-1000K	-1000K	-1000K	-1000K	0	-1000K	-1000K	-1000K
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-23.66M	-30.98M	-9.95M	-295.99M	0	-145.43M	-15.66M	-245.86M
Other Financing	7.68M	7.18M	9.32M	2.33M	22.16M	-6.61M	-17.28M	-3.29M	-22.3M	25.49M
Net Change in Cash	11.1M	-20.47M	10.56M	-10.36M	44.92M	1.43M	-11.29M	69.22M	-7.89M	-7.17M
Free Cash Flow+	18.2M	60.52M	115.37M	135.03M	150.73M	167.42M	119.91M	126.9M	195.9M	141.78M
FCF Margin %	22.38%	38.01%	45.92%	44.06%	42.59%	45.75%	29.84%	26.31%	29.02%	18.62%
FCF Growth %	484.55%	232.56%	90.64%	17.04%	11.63%	11.07%	-28.38%	5.83%	54.37%	-27.62%
FCF per Share	0.16	0.49	0.91	1.10	1.21	1.33	1.03	1.14	1.73	1.18
FCF Conversion (FCF/Net Income)	2.26x	0.47x	1.53x	1.45x	1.43x	1.49x	1.19x	1.20x	1.42x	1.42x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	40K	377K	1.35M	6.74M	10.86M	9.1M	39.75M	47.6M	60.27M	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	27.19%	111.15%	32.31%	29.11%	23.7%	25.03%	23.11%	21.05%	23.56%	15.01%
Return on Invested Capital (ROIC)	-	86.69%	86.02%	40.58%	24.25%	24.95%	22.97%	19.92%	22.09%	6.15%
Gross Margin	97.47%	97.77%	97.92%	98.2%	98.42%	98.56%	98.66%	98.66%	98.39%	98.3%
Net Margin	10.01%	81.11%	30.01%	30.73%	29.96%	30.74%	25.24%	22%	20.7%	13.09%
Debt / Equity	0.35x	-	-	0.01x	0.00x	0.00x	0.00x	0.00x	0.01x	0.01x
Interest Coverage	4.99x	1078.67x	-	-	-	-	-	-	-	-
FCF Conversion	2.26x	0.47x	1.53x	1.45x	1.43x	1.49x	1.19x	1.20x	1.42x	1.42x
Revenue Growth	61.72%	95.77%	57.82%	21.99%	15.46%	3.42%	9.8%	20.04%	39.94%	12.79%

Corcept Therapeutics Incorporated (CORT) 10-Year Financial Performance & Capital Metrics

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Corcept Therapeutics Incorporated (CORT) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

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