Neurocrine Biosciences, Inc. (NBIX) Financial Ratios
30 years of historical data (1996–2025) · Healthcare · Drug Manufacturers - Specialty & Generic
EV/EBITDA
↓
24.01
↓-44% vs avg
5yr avg: 42.92
30Y Low12.4·High74.4
P/FCF
↓
21.22
↓-31% vs avg
5yr avg: 30.80
30Y Low8.1·High88.9
P/B Ratio
↓
4.99
↓-14% vs avg
5yr avg: 5.78
30Y Low1.2·High26.9
ROE
↑
16.4%
↓+36% vs avg
5yr avg: 12.1%
30Y Low-251%·High95%
Debt/EBITDA
↓
0.64
↓-59% vs avg
5yr avg: 1.57
30Y Low0.4·High9.5
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
NBIX Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
Neurocrine Biosciences, Inc. trades at 33.9x earnings, 42% below its 5-year average of 58.9x, sitting at the 50th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a premium of 53%. On a free-cash-flow basis, the stock trades at 21.2x P/FCF, 31% below the 5-year average of 30.8x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $15.9B | $14.5B | $14.2B | $13.3B | $11.8B | $8.3B | $9.4B | $10.3B | $6.8B | $6.8B | $3.4B |
| Enterprise Value | $15.6B | $14.2B | $14.4B | $13.5B | $11.8B | $8.4B | $9.6B | $10.7B | $7.1B | $6.9B | $3.3B |
| P/E Ratio → | 33.90 | 30.37 | 41.49 | 53.34 | 76.56 | 92.58 | 23.04 | 275.62 | 324.59 | — | — |
| P/S Ratio | 5.55 | 5.08 | 6.01 | 7.05 | 7.93 | 7.36 | 8.96 | 13.06 | 15.10 | 42.29 | 223.72 |
| P/B Ratio | 4.99 | 4.47 | 5.47 | 5.96 | 6.92 | 6.07 | 8.32 | 16.16 | 14.17 | 18.37 | 10.66 |
| P/FCF | 21.22 | 19.42 | 25.40 | 36.80 | 36.58 | 35.77 | 43.08 | 77.78 | 88.94 | — | — |
| P/OCF | 20.30 | 18.57 | 23.77 | 34.13 | 34.80 | 32.51 | 41.02 | 70.00 | 67.18 | — | — |
P/E links to full P/E history page with 30-year chart
NBIX EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
Neurocrine Biosciences, Inc.'s enterprise value stands at 24.0x EBITDA, 44% below its 5-year average of 42.9x. The Healthcare sector median is 14.2x, placing the stock at a 69% 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 | — | 4.98 | 6.10 | 7.15 | 7.93 | 7.44 | 9.18 | 13.54 | 15.65 | 43.00 | 218.17 |
| EV / EBITDA | 24.01 | 21.93 | 24.06 | 49.54 | 44.64 | 74.41 | 55.94 | 133.83 | 172.92 | — | — |
| EV / EBIT | 25.18 | 22.37 | 23.47 | 34.16 | 47.44 | 66.33 | 68.81 | 135.97 | 134.98 | — | — |
| EV / FCF | — | 19.02 | 25.80 | 37.29 | 36.58 | 36.20 | 44.11 | 80.68 | 92.16 | — | — |
NBIX Profitability
Margins and return-on-capital ratios measuring operating efficiency
Neurocrine Biosciences, Inc. earns an operating margin of 21.6%. Operating margins have expanded from 13.3% to 21.6% over the past 3 years, signaling improving operational efficiency. ROE of 16.4% indicates solid capital efficiency. ROIC of 16.1% represents solid 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 | 98.2% | 98.2% | 98.6% | 97.9% | 98.4% | 98.7% | 99.0% | 99.1% | 98.9% | 99.2% | 100.0% |
| Operating Margin | 21.6% | 21.6% | 24.2% | 13.3% | 16.7% | 9.0% | 15.6% | 9.2% | 8.2% | -81.3% | -982.5% |
| Net Profit Margin | 16.7% | 16.7% | 14.5% | 13.2% | 10.4% | 7.9% | 38.9% | 4.7% | 4.7% | -88.2% | -940.6% |
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 | 16.4% | 16.4% | 14.2% | 12.7% | 10.0% | 7.2% | 46.2% | 6.6% | 5.0% | -41.5% | -38.2% |
| ROA | 11.5% | 11.5% | 9.8% | 8.9% | 7.0% | 4.7% | 26.8% | 3.2% | 2.3% | -24.1% | -33.6% |
| ROIC | 16.1% | 16.1% | 16.4% | 9.1% | 11.7% | 5.4% | 10.3% | 6.2% | 4.5% | -27.4% | -38.0% |
| ROCE | 17.4% | 17.4% | 19.6% | 11.3% | 13.6% | 6.1% | 14.2% | 8.8% | 4.4% | -23.9% | -37.6% |
NBIX Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
Neurocrine Biosciences, Inc. carries a Debt/EBITDA ratio of 0.6x, which is very conservative (80% below the sector average of 3.2x). The company holds a net cash position — cash of $713M exceeds total debt of $415M, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.13 | 0.13 | 0.18 | 0.19 | 0.15 | 0.32 | 0.37 | 0.78 | 0.81 | 0.99 | — |
| Debt / EBITDA | 0.64 | 0.64 | 0.76 | 1.57 | 0.99 | 3.88 | 2.40 | 6.21 | 9.52 | — | — |
| Net Debt / Equity | — | -0.09 | 0.09 | 0.08 | 0.00 | 0.07 | 0.20 | 0.60 | 0.51 | 0.31 | -0.26 |
| Net Debt / EBITDA | -0.46 | -0.46 | 0.37 | 0.65 | 0.00 | 0.88 | 1.31 | 4.80 | 6.05 | — | — |
| Debt / FCF | — | -0.40 | 0.40 | 0.49 | 0.00 | 0.43 | 1.03 | 2.90 | 3.22 | — | — |
| Interest Coverage | — | — | 4.84 | 85.83 | 35.07 | 4.93 | 4.25 | 2.45 | 1.71 | -6.30 | — |
Net cash position: cash ($713M) exceeds total debt ($415M)
NBIX Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
Neurocrine Biosciences, Inc.'s current ratio of 3.39x 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 2.45x to 3.39x 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 | 3.39 | 3.39 | 3.40 | 2.45 | 2.70 | 3.96 | 5.45 | 1.47 | 8.36 | 10.20 | 10.21 |
| Quick Ratio | 3.30 | 3.30 | 3.28 | 2.40 | 2.64 | 3.83 | 5.30 | 1.44 | 8.24 | 10.18 | 10.21 |
| Cash Ratio | 1.99 | 1.99 | 2.12 | 1.58 | 1.84 | 2.89 | 4.29 | 1.19 | 7.38 | 9.48 | 10.11 |
| Asset Turnover | — | 0.62 | 0.63 | 0.58 | 0.63 | 0.55 | 0.60 | 0.60 | 0.45 | 0.20 | 0.04 |
| Inventory Turnover | 0.76 | 0.76 | 0.59 | 1.04 | 0.66 | 0.47 | 0.36 | 0.43 | 0.45 | 1.22 | — |
| Days Sales Outstanding | — | 87.64 | 74.25 | 84.97 | 85.81 | 59.73 | 54.83 | 58.63 | 46.44 | 70.29 | — |
NBIX Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Neurocrine Biosciences, Inc. returns 1.1% to shareholders annually primarily through share buybacks. The earnings yield of 3.0% (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 | 3.0% | 3.3% | 2.4% | 1.9% | 1.3% | 1.1% | 4.3% | 0.4% | 0.3% | — | — |
| FCF Yield | 4.7% | 5.2% | 3.9% | 2.7% | 2.7% | 2.8% | 2.3% | 1.3% | 1.1% | — | — |
| Buyback Yield | 1.1% | 1.2% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Total Shareholder Yield | 1.1% | 1.2% | 2.1% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Shares Outstanding | — | $103M | $104M | $101M | $99M | $98M | $98M | $96M | $95M | $88M | $87M |
Peer Comparison
Compare NBIX 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 |
|---|---|---|---|---|---|---|---|---|---|
 NBIXYou | $16B | 33.9 | 24.0 | 21.2 | 98.2% | 21.6% | 16.4% | 16.1% | 0.6 |
 INVA | $2B | 6.8 | 6.8 | 8.5 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 ACAD | $4B | 9.4 | 25.7 | 35.2 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 PTCT | $7B | 10.2 | 6.8 | 9.3 | 95.9% | 49.5% | — | — | 0.5 |
 RARE | $3B | -4.7 | — | — | 83.8% | -79.5% | -607.5% | -89.4% | — |
 FOLD | $5B | -164.8 | 114.9 | 152.4 | 87.3% | 5.4% | -11.6% | 5.3% | 11.5 |
 PRGO | $1B | -1.0 | 7.1 | 9.8 | 35.1% | 8.1% | -39.3% | 3.7% | 5.8 |
 ALKS | $7B | 31.5 | 22.9 | 15.6 | 86.7% | 17.2% | 14.7% | 18.9% | 0.2 |
 SUPN | $3B | -65.3 | 45.1 | 55.6 | 89.6% | -5.1% | -3.7% | -2.8% | 0.7 |
 AXSM | $13B | -68.1 | — | — | 92.6% | -26.5% | -252.1% | -1906.7% | — |
 INTR | $2B | 9.7 | 16.1 | 4.1 | 42.4% | 10.9% | 13.2% | 3.9% | 15.4 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
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Includes 30+ ratios · 30 years · Updated daily
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NBIX — Frequently Asked Questions
Quick answers to the most common questions about buying NBIX stock.
What is Neurocrine Biosciences, Inc.'s P/E ratio?
Neurocrine Biosciences, Inc.'s current P/E ratio is 33.9x. The historical average is 48.6x. This places it at the 50th percentile of its historical range.
What is Neurocrine Biosciences, Inc.'s EV/EBITDA?
Neurocrine Biosciences, Inc.'s current EV/EBITDA is 24.0x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 43.8x.
What is Neurocrine Biosciences, Inc.'s ROE?
Neurocrine Biosciences, Inc.'s return on equity (ROE) is 16.4%. The historical average is -21.7%.
Is NBIX stock overvalued?
Based on historical data, Neurocrine Biosciences, Inc. is trading at a P/E of 33.9x. This is at the 50th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are Neurocrine Biosciences, Inc.'s profit margins?
Neurocrine Biosciences, Inc. has 98.2% gross margin and 21.6% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.
How much debt does Neurocrine Biosciences, Inc. have?
Neurocrine Biosciences, Inc.'s Debt/EBITDA ratio is 0.6x, indicating low leverage. A ratio below 2x is generally considered financially healthy.