Harmony Biosciences Holdings, Inc. (HRMY) 10-Year Financial Performance & Capital Metrics

HRMY •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

AboutHarmony Biosciences Holdings, Inc., a commercial-stage pharmaceutical company, develops and commercializes therapies for patients with rare neurological disorders in the United States. Its product, WAKIX is a medication for the treatment of excessive daytime sleepiness in adult patients with narcolepsy. The company was formerly known as Harmony Biosciences II, Inc. and changed its name to Harmony Biosciences Holdings, Inc. in February 2020. Harmony Biosciences Holdings, Inc. was incorporated in 2017 and is based in Plymouth Meeting, Pennsylvania.Show more

Revenue $868M +21.5%
EBITDA $232M +8.1%
Net Income $159M +9.1%
EPS (Diluted) 2.71 +8.0%
Gross Margin 77.16% -1.2%
EBITDA Margin 26.75% -11.0%
Operating Margin 24% -10.1%
Net Margin 18.27% -10.2%
ROE 20.75% -19.7%
ROIC 59.53% +53.2%
Debt/Equity 0.02 -91.6%
Interest Coverage 14.23 +30.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 25.4%
✓FCF machine: 40.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 40.3%
✓Healthy 5Y average net margin of 22.7%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y40.3%

3Y25.64%

TTM21.51%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-4.37%

TTM9.07%

EPS CAGR

10Y-

5Y-

3Y-3.01%

TTM7.97%

ROCE

10Y Avg-10.52%

5Y Avg26.03%

3Y Avg26.48%

Latest22.62%

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 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	6M	159.74M	305.44M	437.86M	582.02M	714.73M	868.45M
Revenue Growth %	-	-	2564.59%	91.21%	43.35%	32.93%	22.8%	21.51%
Cost of Goods Sold+	184K	1.58M	27.74M	55.52M	83.48M	121.24M	156.81M	198.34M
COGS % of Revenue	-	26.31%	17.36%	18.18%	19.07%	20.83%	21.94%	22.84%
Gross Profit+	-184K	4.42M	132M	249.92M	354.37M	460.79M	557.92M	670.11M
Gross Margin %	-	73.69%	82.64%	81.82%	80.93%	79.17%	78.06%	77.16%
Gross Profit Growth %	-	2501.09%	2887.87%	89.33%	41.79%	30.03%	21.08%	20.11%
Operating Expenses+	41.44M	150.32M	115.02M	162.39M	234.19M	268.76M	367.09M	461.64M
OpEx % of Revenue	-	2507.46%	72%	53.17%	53.49%	46.18%	51.36%	53.16%
Selling, General & Admin	29.07M	80.73M	95.57M	132.03M	163.3M	192.69M	221.27M	272.05M
SG&A % of Revenue	-	1346.57%	59.83%	43.23%	37.3%	33.11%	30.96%	31.33%
Research & Development	12.37M	69.59M	19.45M	30.37M	70.89M	76.06M	145.82M	189.59M
R&D % of Revenue	-	1160.88%	12.17%	9.94%	16.19%	13.07%	20.4%	21.83%
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-41.44M	-145.9M	16.99M	87.53M	120.19M	192.03M	190.83M	208.47M
Operating Margin %	-	-2433.76%	10.63%	28.66%	27.45%	32.99%	26.7%	24%
Operating Income Growth %	-	-252.09%	111.64%	415.29%	37.31%	59.78%	-0.63%	9.25%
EBITDA+	-41.26M	-142.69M	27.22M	106.37M	143.57M	216.39M	214.94M	232.32M
EBITDA Margin %	-	-2380.22%	17.04%	34.82%	32.79%	37.18%	30.07%	26.75%
EBITDA Growth %	-	-245.88%	119.08%	290.73%	34.98%	50.72%	-0.67%	8.08%
D&A (Non-Cash Add-back)	184K	3.21M	10.24M	18.84M	23.39M	24.36M	24.11M	23.85M
EBIT	-41.44M	-145.9M	-8.72M	61.62M	123.48M	197.15M	209.3M	229.71M
Net Interest Income+	0	-6.07M	-28.22M	-23.97M	-15.67M	-9.03M	1.05M	7.28M
Interest Income	0	0	0	224K	3.13M	14.73M	18.54M	21.92M
Interest Expense	0	6.07M	28.22M	24.19M	18.8M	23.76M	17.5M	14.65M
Other Income/Expense	1.54M	-6.07M	-53.93M	-50.1M	-15.5M	-18.63M	978K	6.59M
Pretax Income+	-39.9M	-151.98M	-36.94M	37.43M	104.69M	173.4M	191.8M	215.06M
Pretax Margin %	-	-2535.06%	-23.13%	12.25%	23.91%	29.79%	26.84%	24.76%
Income Tax+	0	0	0	2.83M	-76.78M	44.54M	46.31M	56.38M
Effective Tax Rate %	100%	100%	100%	92.44%	173.35%	74.31%	75.85%	73.79%
Net Income+	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	158.69M
Net Margin %	-	-2535.06%	-23.13%	11.33%	41.44%	22.14%	20.36%	18.27%
Net Income Growth %	-	-280.91%	75.69%	193.65%	424.52%	-28.99%	12.91%	9.07%
Net Income (Continuing)	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	158.69M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.42	-2.94	-1.10	0.58	2.97	2.13	2.51	2.71
EPS Growth %	-	-107.04%	62.59%	152.73%	412.07%	-28.28%	17.84%	7.97%
EPS (Basic)	-1.42	-2.94	-1.12	0.60	3.07	2.17	2.56	2.76
Diluted Shares Outstanding	49.24M	63.68M	57.85M	59.21M	61.1M	60.37M	57.87M	58.54M
Basic Shares Outstanding	49.24M	63.68M	56.89M	57.53M	59.17M	59.47M	56.88M	57.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	86.68M	31.5M	262.89M	284.44M	400.29M	451.07M	579.25M	907.01M
Cash & Short-Term Investments	83.52M	24.46M	228.63M	234.31M	323.12M	353.46M	467.19M	752.5M
Cash Only	83.52M	24.46M	228.63M	234.31M	243.78M	311.66M	453M	752.5M
Short-Term Investments	0	0	0	0	79.33M	41.8M	14.19M	0
Accounts Receivable	0	4.25M	22.18M	34.84M	54.74M	74.14M	83.03M	96.79M
Days Sales Outstanding	-	259.06	50.67	41.64	45.63	46.49	42.4	40.68
Inventory	0	1.09M	3.82M	4.43M	4.3M	5.36M	7.2M	5.36M
Days Inventory Outstanding	-	251.82	50.31	29.14	18.79	16.15	16.75	9.86
Other Current Assets	2.46M	261K	1.3M	3.22M	8.79M	5.54M	8.12M	52.37M
Total Non-Current Assets+	2.6M	75.21M	164.18M	149M	273.58M	360.38M	419.95M	364.62M
Property, Plant & Equipment	1.58M	1.33M	938K	4.12M	573K	371K	3.38M	0
Fixed Asset Turnover	-	4.51x	170.30x	74.17x	764.14x	1568.79x	211.52x	-
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	72.19M	162.34M	143.92M	160.95M	137.11M	113.26M	89.42M
Long-Term Investments	500K	0	0	0	22.57M	72.17M	108.87M	107.13M
Other Non-Current Assets	522K	1.69M	902K	967K	3.55M	6.57M	194.43M	18.37M
Total Assets+	89.28M	106.7M	427.07M	433.44M	673.87M	811.45M	999.2M	1.27B
Asset Turnover	-	0.06x	0.37x	0.70x	0.65x	0.72x	0.72x	0.68x
Asset Growth %	-	19.51%	300.25%	1.49%	55.47%	20.42%	23.14%	27.26%
Total Current Liabilities+	7.23M	19.89M	134.54M	53.77M	78.88M	163.78M	175.08M	252.13M
Accounts Payable	1.46M	6.36M	2.56M	1M	3.79M	17.73M	13.74M	0
Days Payables Outstanding	2.9K	1.47K	33.63	6.58	16.55	53.38	31.99	-
Short-Term Debt	0	0	0	2M	2M	15M	16.25M	20M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0
Other Current Liabilities	313K	753K	100.31M	1	1.62M	107.3M	4.35M	232.13M
Current Ratio	11.99x	1.58x	1.95x	5.29x	5.07x	2.75x	3.31x	3.60x
Quick Ratio	11.99x	1.53x	1.93x	5.21x	5.02x	2.72x	3.27x	3.58x
Cash Conversion Cycle	-	-961.15	67.34	64.19	47.87	9.26	27.17	-
Total Non-Current Liabilities+	523K	98.4M	195.35M	193.16M	192.15M	180.68M	164.96M	149.28M
Long-Term Debt	324.2M	97.95M	194.25M	189.98M	189.65M	178.57M	163.02M	0
Capital Lease Obligations	0	0	0	2.4M	0	0	822K	0
Deferred Tax Liabilities	-324.46M	0	0	0	0	0	0	0
Other Non-Current Liabilities	-323.68M	450K	1.1M	777K	2.5M	2.11M	1.13M	149.28M
Total Liabilities	7.75M	118.29M	329.89M	246.94M	271.03M	344.46M	340.05M	401.41M
Total Debt+	324.2M	97.95M	194.25M	195.74M	191.65M	193.57M	181.41M	20M
Net Debt	240.68M	73.49M	-34.38M	-38.56M	-52.14M	-118.09M	-271.6M	-732.5M
Debt / Equity	3.98x	-	2.00x	1.05x	0.48x	0.41x	0.28x	0.02x
Debt / EBITDA	-	-	7.14x	1.84x	1.33x	0.89x	0.84x	0.09x
Net Debt / EBITDA	-	-	-1.26x	-0.36x	-0.36x	-0.55x	-1.26x	-3.15x
Interest Coverage	-	-24.03x	0.60x	3.62x	6.39x	8.08x	10.91x	14.23x
Total Equity+	81.53M	-11.59M	97.18M	186.51M	402.84M	466.99M	659.15M	870.22M
Equity Growth %	-	-114.21%	938.84%	91.92%	115.99%	15.93%	41.15%	32.02%
Book Value per Share	1.66	-0.18	1.68	3.15	6.59	7.74	11.39	14.86
Total Shareholders' Equity	81.53M	-11.59M	97.18M	186.51M	402.84M	466.99M	659.15M	870.22M
Common Stock	1K	0	1K	1K	1K	1K	1K	1K
Retained Earnings	-242.67M	-422.86M	-488.19M	-453.6M	-272.13M	-143.28M	2.22M	160.9M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-2K	0	0	0	-151K	2K	66K	346K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-38.8M	-75.44M	-2.98M	98.56M	144.47M	219.39M	219.82M	348.2M
Operating CF Margin %	-	-1258.32%	-1.87%	32.27%	32.99%	37.69%	30.76%	40.09%
Operating CF Growth %	-	-94.43%	96.04%	3401.74%	46.58%	51.86%	0.2%	58.4%
Net Income	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	0
Depreciation & Amortization	184K	3.8M	10.24M	21.08M	25.05M	24.36M	24.11M	0
Stock-Based Compensation	1.08M	9.91M	4.69M	16.11M	26.91M	31.7M	42.6M	0
Deferred Taxes	0	0	25.75M	0	0	-13.42M	-29.3M	0
Other Non-Cash Items	2.06M	59.44M	4.91M	24.59M	-82.06M	12.85M	44.23M	256.38M
Working Capital Changes	-164K	3.39M	-11.63M	2.19M	-6.89M	35.03M	-7.32M	91.82M
Change in Receivables	0	-4.25M	-17.92M	-12.67M	-19.9M	-19.4M	-8.89M	-13.75M
Change in Inventory	0	-1.09M	-2.73M	-609K	135K	-1.07M	-1.83M	1.84M
Change in Payables	-610K	0	-3.8M	0	0	8.95M	-5.38M	3.95M
Cash from Investing+	-1.34M	-127.15M	-2M	-100.3M	-141.83M	-46.44M	-67.48M	-39.65M
Capital Expenditures	-1.34M	-149K	-2M	-298K	-172K	-312K	-1.15M	0
CapEx % of Revenue	-	2.49%	1.25%	0.1%	0.04%	0.05%	0.16%	0.04%
Acquisitions	0	0	-2M	0	0	-36.97M	-33.07M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	0	-127M	2M	-100M	-141.66M	0	-26.5M	-39.65M
Cash from Financing+	21.61M	143.77M	209.16M	7.42M	6.84M	-105.55M	-11M	-9.05M
Debt Issued (Net)	0	100M	79.42M	-500K	-2M	-1.25M	-15M	-16.25M
Equity Issued (Net)	1000K	0	-184K	0	0	-1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-3.2M	0	-167K	0	0	-100M	0	0
Other Financing	-185K	43.77M	129.93M	7.92M	8.84M	-3.79M	-2.5M	-3M
Net Change in Cash	-18.53M	-58.82M	204.17M	5.68M	9.47M	67.4M	141.34M	299.5M
Free Cash Flow+	-40.14M	-75.58M	-4.99M	98.26M	144.29M	219.07M	218.67M	347.89M
FCF Margin %	-	-1260.8%	-3.12%	32.17%	32.95%	37.64%	30.59%	40.06%
FCF Growth %	-	-88.3%	93.4%	2070.3%	46.85%	51.83%	-0.19%	59.09%
FCF per Share	-0.82	-1.19	-0.09	1.66	2.36	3.63	3.78	5.94
FCF Conversion (FCF/Net Income)	0.97x	0.50x	0.08x	2.85x	0.80x	1.70x	1.51x	2.19x
Interest Paid	0	4.23M	0	19.83M	16.36M	20.05M	17.32M	0
Taxes Paid	0	0	0	0	0	48.23M	79.64M	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-48.94%	-434.57%	-86.32%	24.39%	61.58%	29.63%	25.84%	20.75%
Return on Invested Capital (ROIC)	-	-56.98%	20.43%	62.3%	36.15%	41.17%	38.87%	59.53%
Gross Margin	-	73.69%	82.64%	81.82%	80.93%	79.17%	78.06%	77.16%
Net Margin	-	-2535.06%	-23.13%	11.33%	41.44%	22.14%	20.36%	18.27%
Debt / Equity	3.98x	-	2.00x	1.05x	0.48x	0.41x	0.28x	0.02x
Interest Coverage	-	-24.03x	0.60x	3.62x	6.39x	8.08x	10.91x	14.23x
FCF Conversion	0.97x	0.50x	0.08x	2.85x	0.80x	1.70x	1.51x	2.19x
Revenue Growth	-	-	2564.59%	91.21%	43.35%	32.93%	22.8%	21.51%

US Stock Screener

...

Harmony Biosciences Holdings, Inc. (HRMY) 10-Year Financial Performance & Capital Metrics

HRMY •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

Revenue $868M +21.5%
EBITDA $232M +8.1%
Net Income $159M +9.1%
EPS (Diluted) 2.71 +8.0%
Gross Margin 77.16% -1.2%
EBITDA Margin 26.75% -11.0%
Operating Margin 24% -10.1%
Net Margin 18.27% -10.2%
ROE 20.75% -19.7%
ROIC 59.53% +53.2%
Debt/Equity 0.02 -91.6%
Interest Coverage 14.23 +30.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free
✓Excellent 3Y average ROE of 25.4%
✓FCF machine: 40.1% free cash flow margin
✓High quality earnings: Operating CF exceeds net income
✓Strong 5Y sales CAGR of 40.3%
✓Healthy 5Y average net margin of 22.7%

✗Weaknesses

✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y40.3%

3Y25.64%

TTM21.51%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-4.37%

TTM9.07%

EPS CAGR

10Y-

5Y-

3Y-3.01%

TTM7.97%

ROCE

10Y Avg-10.52%

5Y Avg26.03%

3Y Avg26.48%

Latest22.62%

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 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	0	6M	159.74M	305.44M	437.86M	582.02M	714.73M	868.45M
Revenue Growth %	-	-	2564.59%	91.21%	43.35%	32.93%	22.8%	21.51%
Cost of Goods Sold+	184K	1.58M	27.74M	55.52M	83.48M	121.24M	156.81M	198.34M
COGS % of Revenue	-	26.31%	17.36%	18.18%	19.07%	20.83%	21.94%	22.84%
Gross Profit+	-184K	4.42M	132M	249.92M	354.37M	460.79M	557.92M	670.11M
Gross Margin %	-	73.69%	82.64%	81.82%	80.93%	79.17%	78.06%	77.16%
Gross Profit Growth %	-	2501.09%	2887.87%	89.33%	41.79%	30.03%	21.08%	20.11%
Operating Expenses+	41.44M	150.32M	115.02M	162.39M	234.19M	268.76M	367.09M	461.64M
OpEx % of Revenue	-	2507.46%	72%	53.17%	53.49%	46.18%	51.36%	53.16%
Selling, General & Admin	29.07M	80.73M	95.57M	132.03M	163.3M	192.69M	221.27M	272.05M
SG&A % of Revenue	-	1346.57%	59.83%	43.23%	37.3%	33.11%	30.96%	31.33%
Research & Development	12.37M	69.59M	19.45M	30.37M	70.89M	76.06M	145.82M	189.59M
R&D % of Revenue	-	1160.88%	12.17%	9.94%	16.19%	13.07%	20.4%	21.83%
Other Operating Expenses	0	0	0	0	0	0	0	0
Operating Income+	-41.44M	-145.9M	16.99M	87.53M	120.19M	192.03M	190.83M	208.47M
Operating Margin %	-	-2433.76%	10.63%	28.66%	27.45%	32.99%	26.7%	24%
Operating Income Growth %	-	-252.09%	111.64%	415.29%	37.31%	59.78%	-0.63%	9.25%
EBITDA+	-41.26M	-142.69M	27.22M	106.37M	143.57M	216.39M	214.94M	232.32M
EBITDA Margin %	-	-2380.22%	17.04%	34.82%	32.79%	37.18%	30.07%	26.75%
EBITDA Growth %	-	-245.88%	119.08%	290.73%	34.98%	50.72%	-0.67%	8.08%
D&A (Non-Cash Add-back)	184K	3.21M	10.24M	18.84M	23.39M	24.36M	24.11M	23.85M
EBIT	-41.44M	-145.9M	-8.72M	61.62M	123.48M	197.15M	209.3M	229.71M
Net Interest Income+	0	-6.07M	-28.22M	-23.97M	-15.67M	-9.03M	1.05M	7.28M
Interest Income	0	0	0	224K	3.13M	14.73M	18.54M	21.92M
Interest Expense	0	6.07M	28.22M	24.19M	18.8M	23.76M	17.5M	14.65M
Other Income/Expense	1.54M	-6.07M	-53.93M	-50.1M	-15.5M	-18.63M	978K	6.59M
Pretax Income+	-39.9M	-151.98M	-36.94M	37.43M	104.69M	173.4M	191.8M	215.06M
Pretax Margin %	-	-2535.06%	-23.13%	12.25%	23.91%	29.79%	26.84%	24.76%
Income Tax+	0	0	0	2.83M	-76.78M	44.54M	46.31M	56.38M
Effective Tax Rate %	100%	100%	100%	92.44%	173.35%	74.31%	75.85%	73.79%
Net Income+	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	158.69M
Net Margin %	-	-2535.06%	-23.13%	11.33%	41.44%	22.14%	20.36%	18.27%
Net Income Growth %	-	-280.91%	75.69%	193.65%	424.52%	-28.99%	12.91%	9.07%
Net Income (Continuing)	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	158.69M
Discontinued Operations	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0
EPS (Diluted)+	-1.42	-2.94	-1.10	0.58	2.97	2.13	2.51	2.71
EPS Growth %	-	-107.04%	62.59%	152.73%	412.07%	-28.28%	17.84%	7.97%
EPS (Basic)	-1.42	-2.94	-1.12	0.60	3.07	2.17	2.56	2.76
Diluted Shares Outstanding	49.24M	63.68M	57.85M	59.21M	61.1M	60.37M	57.87M	58.54M
Basic Shares Outstanding	49.24M	63.68M	56.89M	57.53M	59.17M	59.47M	56.88M	57.49M
Dividend Payout Ratio	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	86.68M	31.5M	262.89M	284.44M	400.29M	451.07M	579.25M	907.01M
Cash & Short-Term Investments	83.52M	24.46M	228.63M	234.31M	323.12M	353.46M	467.19M	752.5M
Cash Only	83.52M	24.46M	228.63M	234.31M	243.78M	311.66M	453M	752.5M
Short-Term Investments	0	0	0	0	79.33M	41.8M	14.19M	0
Accounts Receivable	0	4.25M	22.18M	34.84M	54.74M	74.14M	83.03M	96.79M
Days Sales Outstanding	-	259.06	50.67	41.64	45.63	46.49	42.4	40.68
Inventory	0	1.09M	3.82M	4.43M	4.3M	5.36M	7.2M	5.36M
Days Inventory Outstanding	-	251.82	50.31	29.14	18.79	16.15	16.75	9.86
Other Current Assets	2.46M	261K	1.3M	3.22M	8.79M	5.54M	8.12M	52.37M
Total Non-Current Assets+	2.6M	75.21M	164.18M	149M	273.58M	360.38M	419.95M	364.62M
Property, Plant & Equipment	1.58M	1.33M	938K	4.12M	573K	371K	3.38M	0
Fixed Asset Turnover	-	4.51x	170.30x	74.17x	764.14x	1568.79x	211.52x	-
Goodwill	0	0	0	0	0	0	0	0
Intangible Assets	0	72.19M	162.34M	143.92M	160.95M	137.11M	113.26M	89.42M
Long-Term Investments	500K	0	0	0	22.57M	72.17M	108.87M	107.13M
Other Non-Current Assets	522K	1.69M	902K	967K	3.55M	6.57M	194.43M	18.37M
Total Assets+	89.28M	106.7M	427.07M	433.44M	673.87M	811.45M	999.2M	1.27B
Asset Turnover	-	0.06x	0.37x	0.70x	0.65x	0.72x	0.72x	0.68x
Asset Growth %	-	19.51%	300.25%	1.49%	55.47%	20.42%	23.14%	27.26%
Total Current Liabilities+	7.23M	19.89M	134.54M	53.77M	78.88M	163.78M	175.08M	252.13M
Accounts Payable	1.46M	6.36M	2.56M	1M	3.79M	17.73M	13.74M	0
Days Payables Outstanding	2.9K	1.47K	33.63	6.58	16.55	53.38	31.99	-
Short-Term Debt	0	0	0	2M	2M	15M	16.25M	20M
Deferred Revenue (Current)	0	0	0	0	0	0	0	0
Other Current Liabilities	313K	753K	100.31M	1	1.62M	107.3M	4.35M	232.13M
Current Ratio	11.99x	1.58x	1.95x	5.29x	5.07x	2.75x	3.31x	3.60x
Quick Ratio	11.99x	1.53x	1.93x	5.21x	5.02x	2.72x	3.27x	3.58x
Cash Conversion Cycle	-	-961.15	67.34	64.19	47.87	9.26	27.17	-
Total Non-Current Liabilities+	523K	98.4M	195.35M	193.16M	192.15M	180.68M	164.96M	149.28M
Long-Term Debt	324.2M	97.95M	194.25M	189.98M	189.65M	178.57M	163.02M	0
Capital Lease Obligations	0	0	0	2.4M	0	0	822K	0
Deferred Tax Liabilities	-324.46M	0	0	0	0	0	0	0
Other Non-Current Liabilities	-323.68M	450K	1.1M	777K	2.5M	2.11M	1.13M	149.28M
Total Liabilities	7.75M	118.29M	329.89M	246.94M	271.03M	344.46M	340.05M	401.41M
Total Debt+	324.2M	97.95M	194.25M	195.74M	191.65M	193.57M	181.41M	20M
Net Debt	240.68M	73.49M	-34.38M	-38.56M	-52.14M	-118.09M	-271.6M	-732.5M
Debt / Equity	3.98x	-	2.00x	1.05x	0.48x	0.41x	0.28x	0.02x
Debt / EBITDA	-	-	7.14x	1.84x	1.33x	0.89x	0.84x	0.09x
Net Debt / EBITDA	-	-	-1.26x	-0.36x	-0.36x	-0.55x	-1.26x	-3.15x
Interest Coverage	-	-24.03x	0.60x	3.62x	6.39x	8.08x	10.91x	14.23x
Total Equity+	81.53M	-11.59M	97.18M	186.51M	402.84M	466.99M	659.15M	870.22M
Equity Growth %	-	-114.21%	938.84%	91.92%	115.99%	15.93%	41.15%	32.02%
Book Value per Share	1.66	-0.18	1.68	3.15	6.59	7.74	11.39	14.86
Total Shareholders' Equity	81.53M	-11.59M	97.18M	186.51M	402.84M	466.99M	659.15M	870.22M
Common Stock	1K	0	1K	1K	1K	1K	1K	1K
Retained Earnings	-242.67M	-422.86M	-488.19M	-453.6M	-272.13M	-143.28M	2.22M	160.9M
Treasury Stock	0	0	0	0	0	0	0	0
Accumulated OCI	-2K	0	0	0	-151K	2K	66K	346K
Minority Interest	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	-38.8M	-75.44M	-2.98M	98.56M	144.47M	219.39M	219.82M	348.2M
Operating CF Margin %	-	-1258.32%	-1.87%	32.27%	32.99%	37.69%	30.76%	40.09%
Operating CF Growth %	-	-94.43%	96.04%	3401.74%	46.58%	51.86%	0.2%	58.4%
Net Income	-39.9M	-151.98M	-36.94M	34.6M	181.47M	128.85M	145.49M	0
Depreciation & Amortization	184K	3.8M	10.24M	21.08M	25.05M	24.36M	24.11M	0
Stock-Based Compensation	1.08M	9.91M	4.69M	16.11M	26.91M	31.7M	42.6M	0
Deferred Taxes	0	0	25.75M	0	0	-13.42M	-29.3M	0
Other Non-Cash Items	2.06M	59.44M	4.91M	24.59M	-82.06M	12.85M	44.23M	256.38M
Working Capital Changes	-164K	3.39M	-11.63M	2.19M	-6.89M	35.03M	-7.32M	91.82M
Change in Receivables	0	-4.25M	-17.92M	-12.67M	-19.9M	-19.4M	-8.89M	-13.75M
Change in Inventory	0	-1.09M	-2.73M	-609K	135K	-1.07M	-1.83M	1.84M
Change in Payables	-610K	0	-3.8M	0	0	8.95M	-5.38M	3.95M
Cash from Investing+	-1.34M	-127.15M	-2M	-100.3M	-141.83M	-46.44M	-67.48M	-39.65M
Capital Expenditures	-1.34M	-149K	-2M	-298K	-172K	-312K	-1.15M	0
CapEx % of Revenue	-	2.49%	1.25%	0.1%	0.04%	0.05%	0.16%	0.04%
Acquisitions	0	0	-2M	0	0	-36.97M	-33.07M	0
Investments	-	-	-	-	-	-	-	-
Other Investing	0	-127M	2M	-100M	-141.66M	0	-26.5M	-39.65M
Cash from Financing+	21.61M	143.77M	209.16M	7.42M	6.84M	-105.55M	-11M	-9.05M
Debt Issued (Net)	0	100M	79.42M	-500K	-2M	-1.25M	-15M	-16.25M
Equity Issued (Net)	1000K	0	-184K	0	0	-1000K	1000K	1000K
Dividends Paid	0	0	0	0	0	0	0	0
Share Repurchases	-3.2M	0	-167K	0	0	-100M	0	0
Other Financing	-185K	43.77M	129.93M	7.92M	8.84M	-3.79M	-2.5M	-3M
Net Change in Cash	-18.53M	-58.82M	204.17M	5.68M	9.47M	67.4M	141.34M	299.5M
Free Cash Flow+	-40.14M	-75.58M	-4.99M	98.26M	144.29M	219.07M	218.67M	347.89M
FCF Margin %	-	-1260.8%	-3.12%	32.17%	32.95%	37.64%	30.59%	40.06%
FCF Growth %	-	-88.3%	93.4%	2070.3%	46.85%	51.83%	-0.19%	59.09%
FCF per Share	-0.82	-1.19	-0.09	1.66	2.36	3.63	3.78	5.94
FCF Conversion (FCF/Net Income)	0.97x	0.50x	0.08x	2.85x	0.80x	1.70x	1.51x	2.19x
Interest Paid	0	4.23M	0	19.83M	16.36M	20.05M	17.32M	0
Taxes Paid	0	0	0	0	0	48.23M	79.64M	0

Key Ratios

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-48.94%	-434.57%	-86.32%	24.39%	61.58%	29.63%	25.84%	20.75%
Return on Invested Capital (ROIC)	-	-56.98%	20.43%	62.3%	36.15%	41.17%	38.87%	59.53%
Gross Margin	-	73.69%	82.64%	81.82%	80.93%	79.17%	78.06%	77.16%
Net Margin	-	-2535.06%	-23.13%	11.33%	41.44%	22.14%	20.36%	18.27%
Debt / Equity	3.98x	-	2.00x	1.05x	0.48x	0.41x	0.28x	0.02x
Interest Coverage	-	-24.03x	0.60x	3.62x	6.39x	8.08x	10.91x	14.23x
FCF Conversion	0.97x	0.50x	0.08x	2.85x	0.80x	1.70x	1.51x	2.19x
Revenue Growth	-	-	2564.59%	91.21%	43.35%	32.93%	22.8%	21.51%

Harmony Biosciences Holdings, Inc. (HRMY) 10-Year Financial Performance & Capital Metrics

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Harmony Biosciences Holdings, Inc. (HRMY) 10-Year Financial Performance & Capital Metrics

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare HRMY vs Peers

vs AGIO

vs VRTX

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