MannKind Corporation (MNKD) Financial Ratios
24 years of historical data (2002–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
29.26
↓-38% vs avg
5yr avg: 47.07
30Y Low6.0·High76.1
P/FCF
↑
80.08
↓-14% vs avg
5yr avg: 92.86
30Y Low55.6·High130.1
P/B Ratio
N/A
—
5yr avg: N/A
30Y Low1.7·High4.0
ROE
N/A
—
5yr avg: N/A
30Y Low-227%·High-58%
Debt/EBITDA
↓
9.27
↓-9% vs avg
5yr avg: 10.16
30Y Low0.6·High20.6
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
MNKD Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
MannKind Corporation trades at 177.5x earnings, roughly in line with its 5-year average of 174.8x, sitting at the 100th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.3x, the stock trades at a premium of 695%. On a free-cash-flow basis, the stock trades at 80.1x P/FCF, 14% below the 5-year average of 92.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $1.1B | $1.8B | $1.8B | $972M | $1.4B | $1.1B | $697M | $252M | $153M | $242M | $293M |
| Enterprise Value | $1.5B | $2.2B | $1.8B | $1.0B | $1.6B | $1.3B | $753M | $344M | $184M | $355M | $419M |
| P/E Ratio → | 177.50 | 283.50 | 66.15 | — | — | — | — | — | — | — | 2.34 |
| P/S Ratio | 3.14 | 5.10 | 6.39 | 4.89 | 13.58 | 14.44 | 10.69 | 4.00 | 5.48 | 20.59 | 1.68 |
| P/B Ratio | — | — | — | — | — | — | — | — | — | — | — |
| P/FCF | 80.08 | 130.11 | 55.61 | — | — | — | — | — | — | — | — |
| P/OCF | 60.05 | 97.56 | 42.93 | 28.51 | — | — | — | — | — | — | — |
P/E links to full P/E history page with 30-year chart
MNKD EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
MannKind Corporation's enterprise value stands at 29.3x EBITDA, 38% below its 5-year average of 47.1x. The Healthcare sector median is 14.4x, placing the stock at a 103% premium on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.25 | 6.40 | 5.06 | 15.77 | 16.63 | 11.56 | 5.45 | 6.61 | 30.20 | 2.40 |
| EV / EBITDA | 29.26 | 42.66 | 22.40 | 76.14 | — | — | — | — | — | — | 6.01 |
| EV / EBIT | 38.52 | 143.04 | 26.66 | 94.97 | — | — | — | — | — | — | 2.91 |
| EV / FCF | — | 159.22 | 55.65 | — | — | — | — | — | — | — | — |
MNKD Profitability
Margins and return-on-capital ratios measuring operating efficiency
MannKind Corporation earns an operating margin of 11.1%. Operating margins have expanded from 4.4% to 11.1% over the past 3 years, signaling improving operational efficiency. ROIC of 21.6% 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 82.5% | 82.5% | 73.2% | 68.5% | 42.4% | 48.5% | 62.2% | 55.6% | 26.5% | -46.7% | 71.3% |
| Operating Margin | 11.1% | 11.1% | 25.4% | 4.4% | -64.3% | -62.3% | -73.5% | -70.7% | -274.9% | -921.1% | 38.5% |
| Net Profit Margin | 1.7% | 1.7% | 9.7% | -6.0% | -87.6% | -107.3% | -87.9% | -82.3% | -312.2% | -999.0% | 71.9% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | — | — | — | — | — | — | — | — | — | — | — |
| ROA | 1.0% | 1.0% | 6.3% | -3.1% | -28.4% | -37.7% | -56.6% | -51.5% | -90.5% | -122.5% | 107.6% |
| ROIC | 21.6% | 21.6% | — | — | — | — | — | — | — | — | — |
| ROCE | 8.3% | 8.3% | 21.3% | 2.9% | -25.6% | -30.6% | -152.1% | -147.3% | -520.3% | -1804.7% | 448.0% |
MNKD Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
MannKind Corporation carries a Debt/EBITDA ratio of 9.3x, which is highly leveraged (182% above the sector average of 3.3x). Net debt stands at $399M ($473M total debt minus $75M cash). Interest coverage of just 1.1x is concerning — the company has limited headroom to absorb earnings volatility before struggling with debt service.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Debt / EBITDA | 9.27 | 9.27 | 0.58 | 20.63 | — | — | — | — | — | — | 2.13 |
| Net Debt / Equity | — | — | — | — | — | — | — | — | — | — | — |
| Net Debt / EBITDA | 7.80 | 7.80 | 0.02 | 2.58 | — | — | — | — | — | — | 1.80 |
| Debt / FCF | — | 29.11 | 0.04 | — | — | — | — | — | — | — | — |
| Interest Coverage | 1.10 | 1.10 | 1.80 | 0.42 | -2.53 | -3.88 | -5.07 | -3.76 | -8.19 | -7.83 | 7.80 |
MNKD Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
A current ratio of 1.70x means MannKind Corporation can comfortably meet its short-term obligations, though there is limited excess liquidity. The current ratio has declined from 3.59x to 1.70x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.70 | 1.70 | 3.28 | 3.59 | 3.49 | 4.54 | 1.08 | 0.93 | 1.09 | 0.65 | 0.84 |
| Quick Ratio | 1.50 | 1.50 | 2.94 | 3.31 | 3.17 | 4.39 | 1.01 | 0.86 | 1.04 | 0.62 | 0.82 |
| Cash Ratio | 1.00 | 1.00 | 2.41 | 2.83 | 2.54 | 4.22 | 0.91 | 0.76 | 0.95 | 0.50 | 0.25 |
| Asset Turnover | — | 0.44 | 0.72 | 0.42 | 0.34 | 0.23 | 0.60 | 0.67 | 0.26 | 0.14 | 1.63 |
| Inventory Turnover | 1.73 | 1.73 | 2.75 | 2.20 | 2.64 | 5.43 | 4.95 | 6.73 | 5.69 | 6.48 | 21.49 |
| Days Sales Outstanding | — | 40.13 | 15.09 | 27.34 | 61.47 | 22.93 | 23.63 | 20.34 | 52.63 | 86.67 | 64.45 |
MNKD Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
MannKind Corporation does not currently pay a dividend and has no material buyback yield, reinvesting earnings back into the business. The earnings yield of 0.6% (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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 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 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 0.6% | 0.4% | 1.5% | — | — | — | — | — | — | — | 42.7% |
| FCF Yield | 1.2% | 0.8% | 1.8% | — | — | — | — | — | — | — | — |
| Buyback Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $314M | $284M | $267M | $257M | $249M | $223M | $196M | $144M | $104M | $92M |
Peer Comparison
Compare MNKD 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 |
|---|---|---|---|---|---|---|---|---|---|
 MNKDYou | $1B | 177.5 | 29.3 | 80.1 | 82.5% | 11.1% | — | 21.6% | 9.3 |
 UTHR | $25B | 20.4 | 14.8 | 24.0 | 87.9% | 46.9% | 19.7% | 21.1% | — |
 INSM | $23B | -16.3 | — | — | 79.4% | -194.0% | -249.3% | -86.5% | — |
 ACAD | $4B | 9.9 | 26.9 | 36.7 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 PTCT | $5B | 8.3 | 5.4 | 7.6 | 95.9% | 49.5% | — | — | 0.5 |
 RARE | $3B | -4.5 | — | — | 83.8% | -79.5% | -607.5% | -89.4% | — |
 NVO | $203B | 12.7 | 9.4 | 44.7 | 81.0% | 41.3% | 60.7% | 36.2% | 0.9 |
 SNY | $104B | 18.1 | 10.8 | 10.0 | 72.3% | 13.6% | 10.4% | 5.5% | 2.3 |
 LLY | $921B | 42.5 | 30.6 | 102.7 | 83.8% | 45.6% | 101.2% | 41.8% | 1.4 |
 DXCM | $24B | 29.1 | 20.6 | 21.8 | 60.0% | 19.6% | 34.5% | 18.7% | 1.2 |
 PODD | $11B | 46.1 | 19.8 | 29.8 | 71.6% | 17.5% | 18.1% | 20.1% | 1.8 |
| Healthcare Median | — | 22.3 | 14.4 | 18.5 | 63.9% | -5.2% | -33.7% | -11.2% | 3.3 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 24 years · Updated daily
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Start ComparisonMNKD — Frequently Asked Questions
Quick answers to the most common questions about buying MNKD stock.
What is MannKind Corporation's P/E ratio?
MannKind Corporation's current P/E ratio is 177.5x. The historical average is 34.2x. This places it at the 100th percentile of its historical range.
What is MannKind Corporation's EV/EBITDA?
MannKind Corporation's current EV/EBITDA is 29.3x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 36.8x.
Is MNKD stock overvalued?
Based on historical data, MannKind Corporation is trading at a P/E of 177.5x. This is at the 100th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are MannKind Corporation's profit margins?
MannKind Corporation has 82.5% gross margin and 11.1% operating margin. Operating margin between 10-20% is typical for established companies.
How much debt does MannKind Corporation have?
MannKind Corporation's Debt/EBITDA ratio is 9.3x, indicating high leverage. A ratio above 4x may signal elevated financial risk.