Harmony Biosciences Holdings, Inc. (HRMY) Financial Ratios
8 years of historical data (2018–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
4.99
↓-64% vs avg
5yr avg: 13.84
30Y Low6.3·High75.6
P/FCF
↓
5.44
↓-63% vs avg
5yr avg: 14.67
30Y Low6.3·High25.7
P/B Ratio
↓
2.21
↓-65% vs avg
5yr avg: 6.32
30Y Low2.5·High21.5
ROE
↓
20.8%
↑-36% vs avg
5yr avg: 32.4%
30Y Low-435%·High62%
Debt/EBITDA
↓
0.09
↓-91% vs avg
5yr avg: 1.00
30Y Low0.1·High7.1
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
HRMY Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Harmony Biosciences Holdings, Inc. trades at 12.1x earnings, 55% below its 5-year average of 27.0x, sitting at the 0th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 45%. On a free-cash-flow basis, the stock trades at 5.4x P/FCF, 63% below the 5-year average of 14.7x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.9B | $2.2B | $2.0B | $2.0B | $3.4B | $2.5B | $2.1B | — | — |
| Enterprise Value | $1.2B | $1.5B | $1.7B | $1.8B | $3.3B | $2.5B | $2.1B | — | — |
| P/E Ratio → | 12.10 | 13.81 | 13.71 | 15.16 | 18.55 | 73.52 | — | — | — |
| P/S Ratio | 2.18 | 2.52 | 2.79 | 3.35 | 7.69 | 8.27 | 13.09 | — | — |
| P/B Ratio | 2.21 | 2.52 | 3.02 | 4.18 | 8.36 | 13.54 | 21.52 | — | — |
| P/FCF | 5.44 | 6.30 | 9.11 | 8.90 | 23.33 | 25.69 | — | — | — |
| P/OCF | 5.43 | 6.29 | 9.06 | 8.89 | 23.30 | 25.61 | — | — | — |
P/E links to full P/E history page with 30-year chart
HRMY EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Harmony Biosciences Holdings, Inc.'s enterprise value stands at 5.0x EBITDA, 64% below its 5-year average of 13.8x. The Healthcare sector median is 14.1x, placing the stock at a 65% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.68 | 2.41 | 3.15 | 7.57 | 8.14 | 12.88 | — | — |
| EV / EBITDA | 4.99 | 6.28 | 8.00 | 8.47 | 23.08 | 23.37 | 75.55 | — | — |
| EV / EBIT | 5.56 | 6.35 | 8.22 | 9.29 | 26.84 | 40.34 | — | — | — |
| EV / FCF | — | 4.19 | 7.86 | 8.36 | 22.97 | 25.30 | — | — | — |
HRMY Profitability
Margins and return-on-capital ratios measuring operating efficiency
Harmony Biosciences Holdings, Inc. earns an operating margin of 24.0%. Operating margins have compressed from 33.0% to 24.0% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 20.8% indicates solid capital efficiency. ROIC of 59.5% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.2% | 77.2% | 78.1% | 79.2% | 80.9% | 81.8% | 82.6% | 73.7% | — |
| Operating Margin | 24.0% | 24.0% | 26.7% | 33.0% | 27.4% | 28.7% | 10.6% | -2433.8% | — |
| Net Profit Margin | 18.3% | 18.3% | 20.4% | 22.1% | 41.4% | 11.3% | -23.1% | -2535.1% | — |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| ROE | 20.8% | 20.8% | 25.8% | 29.6% | 61.6% | 24.4% | -86.3% | -434.6% | -48.9% |
| ROA | 14.0% | 14.0% | 16.1% | 17.4% | 32.8% | 8.0% | -13.8% | -155.1% | -44.7% |
| ROIC | 59.5% | 59.5% | 38.9% | 41.2% | 36.2% | 62.3% | 20.4% | -57.0% | — |
| ROCE | 22.6% | 22.6% | 25.9% | 30.9% | 24.7% | 26.0% | 9.0% | -172.8% | -50.5% |
HRMY Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Harmony Biosciences Holdings, Inc. carries a Debt/EBITDA ratio of 0.1x, which is very conservative (97% below the sector average of 3.3x). The company holds a net cash position — cash of $753M exceeds total debt of $20M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 14.2x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.02 | 0.02 | 0.28 | 0.41 | 0.48 | 1.05 | 2.00 | — | 3.98 |
| Debt / EBITDA | 0.09 | 0.09 | 0.84 | 0.89 | 1.33 | 1.84 | 7.14 | — | — |
| Net Debt / Equity | — | -0.84 | -0.41 | -0.25 | -0.13 | -0.21 | -0.35 | — | 2.95 |
| Net Debt / EBITDA | -3.15 | -3.15 | -1.26 | -0.55 | -0.36 | -0.36 | -1.26 | — | — |
| Debt / FCF | — | -2.11 | -1.24 | -0.54 | -0.36 | -0.39 | — | — | — |
| Interest Coverage | 14.23 | 14.23 | 10.91 | 8.08 | 6.39 | 3.62 | 0.60 | -24.03 | — |
Net cash position: cash ($753M) exceeds total debt ($20M)
HRMY Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Harmony Biosciences Holdings, Inc.'s current ratio of 3.60x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The current ratio has improved from 2.75x to 3.60x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 3.60 | 3.60 | 3.31 | 2.75 | 5.07 | 5.29 | 1.95 | 1.58 | 11.99 |
| Quick Ratio | 3.58 | 3.58 | 3.27 | 2.72 | 5.02 | 5.21 | 1.93 | 1.53 | 11.99 |
| Cash Ratio | 2.98 | 2.98 | 2.67 | 2.16 | 4.10 | 4.36 | 1.70 | 1.23 | 11.55 |
| Asset Turnover | — | 0.68 | 0.72 | 0.72 | 0.65 | 0.70 | 0.37 | 0.06 | — |
| Inventory Turnover | 37.02 | 37.02 | 21.79 | 22.61 | 19.43 | 12.53 | 7.26 | 1.45 | — |
| Days Sales Outstanding | — | 40.68 | 42.40 | 46.49 | 45.63 | 41.64 | 50.67 | 259.06 | — |
HRMY Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Harmony Biosciences Holdings, Inc. does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 8.3% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 8.3% | 7.2% | 7.3% | 6.6% | 5.4% | 1.4% | — | — | — |
| FCF Yield | 18.4% | 15.9% | 11.0% | 11.2% | 4.3% | 3.9% | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 5.1% | 0.0% | 0.0% | 0.0% | — | — |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 5.1% | 0.0% | 0.0% | 0.0% | — | — |
| Shares Outstanding | — | $59M | $58M | $60M | $61M | $59M | $58M | $64M | $49M |
Peer Comparison
Compare HRMY with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 HRMYYou | $2B | 12.1 | 5.0 | 5.4 | 77.2% | 24.0% | 20.8% | 59.5% | 0.1 |
 JAZZ | $14B | -39.1 | 24.0 | 11.1 | 88.2% | 5.3% | -8.5% | 2.1% | 7.1 |
 AVPT | $2B | 68.5 | 44.5 | 27.2 | 74.1% | 7.9% | 9.4% | 1143.3% | 0.3 |
 AXSM | $11B | -60.5 | — | — | 92.6% | -26.5% | -252.1% | -1906.7% | — |
 INVA | $2B | 6.8 | 8.0 | 9.8 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 SUPN | $3B | -75.7 | 52.6 | 64.4 | 89.6% | -5.1% | -3.7% | -2.8% | 0.7 |
 NKTR | $2B | -8.7 | — | — | — | -253.7% | -217.9% | -75.2% | — |
 PTCT | $6B | 8.6 | 5.6 | 7.9 | 95.9% | 49.5% | — | — | 0.5 |
 RARE | $3B | -4.4 | — | — | 83.8% | -79.5% | -607.5% | -89.4% | — |
 ACAD | $4B | 9.4 | 25.6 | 35.0 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 CRL | $9B | -62.5 | 13.0 | 17.3 | 30.5% | 12.6% | -4.3% | 6.3% | 3.4 |
| Healthcare Median | — | 22.1 | 14.1 | 18.7 | 63.9% | -5.3% | -33.7% | -10.8% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 8 years · Updated daily
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Start ComparisonHRMY — Frequently Asked Questions
Quick answers to the most common questions about buying HRMY stock.
What is Harmony Biosciences Holdings, Inc.'s P/E ratio?
Harmony Biosciences Holdings, Inc.'s current P/E ratio is 12.1x. The historical average is 27.0x.
What is Harmony Biosciences Holdings, Inc.'s EV/EBITDA?
Harmony Biosciences Holdings, Inc.'s current EV/EBITDA is 5.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 24.1x.
What is Harmony Biosciences Holdings, Inc.'s ROE?
Harmony Biosciences Holdings, Inc.'s return on equity (ROE) is 20.8%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is -51.0%.
Is HRMY stock overvalued?
Based on historical data, Harmony Biosciences Holdings, Inc. is trading at a P/E of 12.1x. Compare with industry peers and growth rates for a complete picture.
What are Harmony Biosciences Holdings, Inc.'s profit margins?
Harmony Biosciences Holdings, Inc. has 77.2% gross margin and 24.0% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Harmony Biosciences Holdings, Inc. have?
Harmony Biosciences Holdings, Inc.'s Debt/EBITDA ratio is 0.1x, indicating low leverage. A ratio below 2x is generally considered financially healthy.