Nektar Therapeutics (NKTR) 10-Year Financial Performance & Capital Metrics

NKTR • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

AboutNektar Therapeutics, a biopharmaceutical company, focuses on discovering and developing medicines in areas of unmet medical need in the United States and internationally. The company's products include Bempegaldesleukin, a CD122-preferential interleukin-2 (IL-2) pathway agonist, which is in phase 3 clinical trial to treat metastatic melanoma, renal cell carcinoma, muscle-invasive bladder cancer, squamous cell carcinoma of the head and neck, and adjuvant melanoma; phase 2 clinical trial for the treatment of renal cell carcinoma, non-small cell lung cancer, and urothelial cancer; phase 1/2A clinical trial to treat squamous cell carcinoma of the head and neck; phase 1/2 clinical trial for the treatment of solid tumors; and phase 1B clinical trial to treat COVID-19. It is also developing NKTR-358, a cytokine Treg stimulant that is in phase 2 clinical trial for the treatment of systemic lupus erythematosus and ulcerative colitis, as well as phase 1B clinical trial to treat atopic dermatitis and psoriasis; NKTR-255, an IL-15 receptor agonist, which is in phase 1/2 clinical trial for the treatment of non-Hodgkin's lymphoma and multiple myeloma, and head and neck cancer and colorectal cancer; and NKTR-262, a toll-like receptor agonist that is in phase 1/2 clinical trial to treat solid tumors, as well as various other drug candidates. The company has collaboration agreements with Takeda Pharmaceutical Company Ltd.; AstraZeneca AB; UCB Pharma S.A.; F. Hoffmann-La Roche Ltd; Bausch Health Companies Inc.; Pfizer Inc.; Amgen Inc.; UCB Pharma (Biogen); Bristol-Myers Squibb Company; Baxalta Incorporated; Eli Lilly and Company; Merck KGaA; and SFJ Pharmaceuticals, Inc. Nektar Therapeutics was incorporated in 1990 and is headquartered in San Francisco, California.Show more

Revenue $98M +9.2%
EBITDA -$101M +22.2%
Net Income -$119M +56.9%
EPS (Diluted) -8.68 +60.2%
Gross Margin 68.82% +16.0%
EBITDA Margin -102.42% +28.8%
Operating Margin -106.88% +29.9%
Net Margin -120.86% +60.5%
ROE -124.1% -11.8%
ROIC -47.45% -43.5%
Debt/Equity 1.69 +87.8%
Interest Coverage -3.74 +31.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-6.88%

5Y-3%

3Y-1.15%

TTM-32.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM28.26%

EPS CAGR

10Y-

5Y-

3Y-

TTM36.81%

ROCE

10Y Avg-16.66%

5Y Avg-30.69%

3Y Avg-30.73%

Latest-35.71%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.26B	9.38	67	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	692.99M	4.09	10.76	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	932.87M	2.35	-1.84	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	630.68M	8.04	-2.62			-117.82%	0.18
IMNMImmunome, Inc.	2.22B	20.14	-4.03	-35.5%	-23.01%	-84.4%	0.03
NKTRNektar Therapeutics	744.1M	36.58	-4.21	9.22%	-192.87%	-141.9%	1.69
IBRXImmunityBio, Inc.	2.78B	2.82	-4.55	22.71%	-422.28%
CRVSCorvus Pharmaceuticals, Inc.	485.43M	6.50	-6.37			-21.01%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	230.78M	165.44M	307.71M	1.19B	114.62M	152.91M	101.91M	92.06M	90.12M	98.43M
Revenue Growth %	0.15%	-0.28%	0.86%	2.88%	-0.9%	0.33%	-0.33%	-0.1%	-0.02%	0.09%
Cost of Goods Sold+	34.1M	30.21M	30.55M	24.41M	21.37M	19.48M	24.9M	21.64M	36.64M	30.69M
COGS % of Revenue	0.15%	0.18%	0.1%	0.02%	0.19%	0.13%	0.24%	0.24%	0.41%	0.31%
Gross Profit+	196.68M	135.22M	277.16M	1.17B	93.24M	133.44M	77.01M	70.42M	53.48M	67.74M
Gross Margin %	0.85%	0.82%	0.9%	0.98%	0.81%	0.87%	0.76%	0.76%	0.59%	0.69%
Gross Profit Growth %	0.14%	-0.31%	1.05%	3.22%	-0.92%	0.43%	-0.42%	-0.09%	-0.24%	0.27%
Operating Expenses+	226.05M	248.08M	320.82M	480.98M	533.28M	513.36M	523.11M	310.66M	190.9M	172.94M
OpEx % of Revenue	0.98%	1.5%	1.04%	0.4%	4.65%	3.36%	5.13%	3.37%	2.12%	1.76%
Selling, General & Admin	43.27M	44.27M	52.36M	81.44M	98.71M	104.68M	122.84M	92.33M	77.42M	76.75M
SG&A % of Revenue	0.19%	0.27%	0.17%	0.07%	0.86%	0.68%	1.21%	1%	0.86%	0.78%
Research & Development	182.79M	203.8M	268.46M	399.54M	434.57M	408.68M	400.27M	218.32M	114.16M	120.91M
R&D % of Revenue	0.79%	1.23%	0.87%	0.33%	3.79%	2.67%	3.93%	2.37%	1.27%	1.23%
Other Operating Expenses	0	0	0	0	0	0	0	0	-676K	-24.72M
Operating Income+	-29.37M	-112.86M	-59.64M	687.93M	-440.04M	-379.92M	-446.1M	-240.24M	-137.43M	-105.2M
Operating Margin %	-0.13%	-0.68%	-0.19%	0.58%	-3.84%	-2.48%	-4.38%	-2.61%	-1.52%	-1.07%
Operating Income Growth %	-0.78%	-2.84%	0.47%	12.53%	-1.64%	0.14%	-0.17%	0.46%	0.43%	0.23%
EBITDA+	-16.52M	-99.66M	-47.04M	696.73M	-429.04M	-367.42M	-431.96M	-228.04M	-129.61M	-100.81M
EBITDA Margin %	-0.07%	-0.6%	-0.15%	0.58%	-3.74%	-2.4%	-4.24%	-2.48%	-1.44%	-1.02%
EBITDA Growth %	-3.64%	-5.03%	0.53%	15.81%	-1.62%	0.14%	-0.18%	0.47%	0.43%	0.22%
D&A (Non-Cash Add-back)	12.86M	13.2M	12.6M	8.8M	11M	12.5M	14.15M	12.2M	7.82M	4.39M
EBIT	-41.77M	-110.47M	-55.12M	725.5M	-393.7M	-406.83M	-475.97M	-336.07M	-250.92M	-91.09M
Net Interest Income+	-37.22M	-39.79M	-36.43M	-5.21M	-19K	-18.84M	-44.58M	-22.13M	-6.33M	-13.61M
Interest Income	1.68M	2.39M	4.52M	37.57M	46.34M	18.28M	2.73M	6.78M	19.01M	14.5M
Interest Expense	38.9M	42.18M	40.95M	42.78M	46.35M	37.12M	47.31M	28.91M	25.33M	28.11M
Other Income/Expense	-51.3M	-39.79M	-36.43M	-5.21M	-19K	-64.03M	-77.18M	-124.75M	-138.83M	-14M
Pretax Income+	-80.67M	-152.65M	-96.08M	682.73M	-440.05M	-443.95M	-523.28M	-364.98M	-276.26M	-119.2M
Pretax Margin %	-0.35%	-0.92%	-0.31%	0.57%	-3.84%	-2.9%	-5.13%	-3.96%	-3.07%	-1.21%
Income Tax+	506K	876K	616K	1.41M	613K	493K	557K	3.21M	-200K	-239K
Effective Tax Rate %	1.01%	1.01%	1.01%	1%	1%	1%	1%	1.01%	1%	1%
Net Income+	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
Net Margin %	-0.35%	-0.93%	-0.31%	0.57%	-3.84%	-2.91%	-5.14%	-4%	-3.06%	-1.21%
Net Income Growth %	-0.51%	-0.89%	0.37%	8.05%	-1.65%	-0.01%	-0.18%	0.3%	0.25%	0.57%
Net Income (Continuing)	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
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)+	-9.15	-16.50	-9.30	56.70	-37.80	-37.33	-42.90	-29.51	-21.79	-8.68
EPS Growth %	-0.45%	-0.8%	0.44%	7.1%	-1.67%	0.01%	-0.15%	0.31%	0.26%	0.6%
EPS (Basic)	-9.15	-16.50	-9.30	56.70	-37.80	-37.33	-42.90	-29.51	-21.79	-8.68
Diluted Shares Outstanding	8.83M	9.31M	10.4M	12.01M	11.67M	11.91M	12.22M	12.48M	12.67M	13.71M
Basic Shares Outstanding	8.83M	9.3M	10.4M	12.01M	11.67M	11.91M	12.22M	12.48M	12.67M	13.71M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	350.05M	426.25M	326.82M	1.44B	1.42B	1.14B	795.58M	545.97M	330.7M	261.29M
Cash & Short-Term Investments	308.94M	389.1M	296.13M	1.34B	1.32B	1.06B	733.96M	504.98M	303.62M	255.23M
Cash Only	55.57M	59.64M	4.76M	194.91M	96.36M	198.96M	25.22M	88.23M	35.28M	44.25M
Short-Term Investments	253.37M	329.46M	291.37M	1.14B	1.23B	862.94M	708.74M	416.75M	268.34M	210.97M
Accounts Receivable	19.95M	15.68M	5.01M	43.21M	36.8M	38.89M	22.49M	8.4M	2.25M	1.61M
Days Sales Outstanding	31.55	34.59	5.95	13.22	117.2	92.83	80.56	33.32	9.12	5.97
Inventory	11.35M	11.11M	10.73M	11.38M	12.66M	15.29M	15.8M	19.2M	16.1M	0
Days Inventory Outstanding	121.44	134.2	128.16	170.16	216.28	286.57	231.65	323.95	160.38	-
Other Current Assets	9.81M	10.36M	14.35M	21.29M	15.39M	0	0	0	0	0
Total Non-Current Assets+	152.01M	142.62M	182.05M	712.49M	555.81M	400.76M	321.61M	164.63M	67.33M	42.56M
Property, Plant & Equipment	71.34M	65.6M	47.46M	48.85M	199.84M	186.14M	177.53M	85.89M	36.86M	11.82M
Fixed Asset Turnover	3.24x	2.52x	6.48x	24.43x	0.57x	0.82x	0.57x	1.07x	2.44x	8.32x
Goodwill	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	57.09M	582.89M	279.12M	136.66M	64.83M	0	25.82M	26.09M
Other Non-Current Assets	4.17M	517K	994K	4.24M	344K	1.46M	2.74M	2.25M	4.64M	4.65M
Total Assets+	502.06M	568.87M	508.87M	2.15B	1.98B	1.54B	1.12B	710.6M	398.03M	303.85M
Asset Turnover	0.46x	0.29x	0.60x	0.55x	0.06x	0.10x	0.09x	0.13x	0.23x	0.32x
Asset Growth %	0.14%	0.13%	-0.11%	3.23%	-0.08%	-0.22%	-0.27%	-0.36%	-0.44%	-0.24%
Total Current Liabilities+	61.25M	72.22M	56.16M	82M	353.89M	115.78M	85.2M	68.2M	51.27M	61.4M
Accounts Payable	2.36M	2.82M	4.78M	5.85M	19.23M	22.14M	9.75M	12.98M	9.85M	11.56M
Days Payables Outstanding	25.29	34.02	57.14	87.53	328.46	414.89	142.89	218.98	98.09	137.5
Short-Term Debt	4.76M	2.91M	0	0	252.89M	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	91K	0	0	0	0
Other Current Liabilities	21.95M	32.37M	24.17M	52.32M	11.47M	14.44M	15.73M	9.58M	5.55M	5.55M
Current Ratio	5.72x	5.90x	5.82x	17.53x	4.02x	9.83x	9.34x	8.00x	6.45x	4.26x
Quick Ratio	5.53x	5.75x	5.63x	17.39x	3.98x	9.70x	9.15x	7.72x	6.14x	4.26x
Cash Conversion Cycle	127.69	134.77	76.97	95.86	5.02	-35.49	169.31	138.29	71.41	-
Total Non-Current Liabilities+	434.39M	408.52M	364.88M	350.6M	218.07M	345.69M	352.48M	275.76M	215.78M	181.71M
Long-Term Debt	241.7M	243.46M	245.21M	246.95M	0	0	0	0	0	0
Capital Lease Obligations	1.07M	2.22M	0	0	142.73M	136.37M	125.74M	112.83M	98.52M	82.7M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	125.77M	110.95M	100.65M	92.9M	72.79M	206.86M	226.75M	162.93M	117.26M	99.02M
Total Liabilities	495.63M	480.75M	421.04M	432.6M	571.97M	461.47M	437.68M	343.96M	267.05M	243.11M
Total Debt+	247.94M	248.59M	245.21M	246.95M	408.14M	150.29M	143.18M	131.5M	117.78M	102.56M
Net Debt	192.37M	188.96M	240.44M	52.05M	311.77M	-48.67M	117.96M	43.27M	82.5M	58.31M
Debt / Equity	38.57x	2.82x	2.79x	0.14x	0.29x	0.14x	0.21x	0.36x	0.90x	1.69x
Debt / EBITDA	-	-	-	0.35x	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	0.07x	-	-	-	-	-	-
Interest Coverage	-0.76x	-2.68x	-1.46x	16.08x	-9.49x	-10.24x	-9.43x	-8.31x	-5.42x	-3.74x
Total Equity+	6.43M	88.13M	87.83M	1.72B	1.41B	1.08B	679.51M	366.64M	130.99M	60.74M
Equity Growth %	-0.82%	12.71%	-0%	18.56%	-0.18%	-0.23%	-0.37%	-0.46%	-0.64%	-0.54%
Book Value per Share	0.73	9.47	8.45	143.04	120.47	90.49	55.61	29.39	10.34	4.43
Total Shareholders' Equity	6.43M	88.13M	87.83M	1.72B	1.41B	1.08B	679.51M	366.64M	130.99M	60.74M
Common Stock	13K	15K	15K	17K	17K	18K	19K	19K	19K	19K
Retained Earnings	-1.87B	-2.02B	-2.12B	-1.42B	-1.86B	-2.31B	-2.83B	-3.2B	-3.48B	-3.6B
Treasury Stock	0	0	0	0	0	0	0	0	0	-3M
Accumulated OCI	-2.17M	-2.36M	-2.11M	-6.32M	-1M	-2.29M	-4.16M	-6.91M	80K	61K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-73.08M	-117.02M	-80.41M	718.21M	-328.68M	-313.29M	-412.66M	-304.01M	-192.61M	-175.71M
Operating CF Margin %	-0.32%	-0.71%	-0.26%	0.6%	-2.87%	-2.05%	-4.05%	-3.3%	-2.14%	-1.79%
Operating CF Growth %	0.49%	-0.6%	0.31%	9.93%	-1.46%	0.05%	-0.32%	0.26%	0.37%	0.09%
Net Income	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
Depreciation & Amortization	12.86M	15.35M	14.74M	10.87M	13.16M	14.18M	14.15M	13.03M	7.82M	4.39M
Stock-Based Compensation	19.67M	25.85M	36.62M	88.1M	99.8M	94.26M	94.67M	57.32M	33.39M	21.61M
Deferred Taxes	1.58M	0	15.08M	0	0	20.35M	8.02M	2.71M	-140K	0
Other Non-Cash Items	8.7M	-12.63M	-12.54M	-23.06M	-22.65M	-14.35M	17.41M	-9.36M	62.19M	-76.51M
Working Capital Changes	-34.7M	7.93M	-37.62M	-39.01M	21.69M	16.71M	-23.08M	492K	-19.8M	-6.24M
Change in Receivables	-16.34M	4.27M	10.66M	-25.5M	6.41M	1.91M	12.4M	16.51M	4.78M	-3.04M
Change in Inventory	1.61M	237K	383K	-655K	-1.28M	-2.63M	-509K	-3.4M	699K	497K
Change in Payables	-412K	518K	2.07M	971K	12.97M	2.38M	-11.69M	3.1M	-2.88M	2.67M
Cash from Investing+	-14.34M	-82.4M	-28.81M	-1.38B	206.89M	496.21M	202.78M	365.83M	139.56M	142.57M
Capital Expenditures	-11.2M	-6.39M	-9.68M	-14.24M	-26.29M	-7.26M	-14.99M	-5.68M	-865K	-1.47M
CapEx % of Revenue	0.05%	0.04%	0.03%	0.01%	0.23%	0.05%	0.15%	0.06%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	25M	-76.01M	-19.13M	2.63M	0	503.47M	217.77M	0	1.25M	0
Cash from Financing+	130.78M	203.62M	54.39M	851.97M	23.36M	-80.35M	36.24M	1.51M	30K	42.12M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	20.29M	59.52M	61.73M	23.36M	0	3M	750K	0	45.12M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-84.28M	-123.42M	-90.09M	703.98M	-354.97M	-320.55M	-427.65M	-309.68M	-193.47M	-177.18M
FCF Margin %	-0.37%	-0.75%	-0.29%	0.59%	-3.1%	-2.1%	-4.2%	-3.36%	-2.15%	-1.8%
FCF Growth %	0.45%	-0.46%	0.27%	8.81%	-1.5%	0.1%	-0.33%	0.28%	0.38%	0.08%
FCF per Share	-9.54	-13.26	-8.67	58.63	-30.43	-26.92	-35.00	-24.82	-15.27	-12.92
FCF Conversion (FCF/Net Income)	0.90x	0.76x	0.83x	1.05x	0.75x	0.70x	0.79x	0.83x	0.70x	1.48x
Interest Paid	-20.23M	20.59M	20.12M	19.47M	19.2M	9.74M	0	0	0	0
Taxes Paid	-860K	757K	556K	618K	555K	539K	325K	272K	2.66M	76K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-379.68%	-324.73%	-109.91%	75.47%	-28.22%	-35.8%	-59.64%	-70.39%	-110.95%	-124.1%
Return on Invested Capital (ROIC)	-12.36%	-35.57%	-14.78%	49.19%	-18.93%	-20.75%	-36.64%	-29.85%	-33.07%	-47.45%
Gross Margin	85.22%	81.74%	90.07%	97.95%	81.35%	87.26%	75.57%	76.5%	59.34%	68.82%
Net Margin	-35.17%	-92.8%	-31.42%	57.09%	-384.47%	-290.65%	-514.03%	-399.98%	-306.31%	-120.86%
Debt / Equity	38.57x	2.82x	2.79x	0.14x	0.29x	0.14x	0.21x	0.36x	0.90x	1.69x
Interest Coverage	-0.76x	-2.68x	-1.46x	16.08x	-9.49x	-10.24x	-9.43x	-8.31x	-5.42x	-3.74x
FCF Conversion	0.90x	0.76x	0.83x	1.05x	0.75x	0.70x	0.79x	0.83x	0.70x	1.48x
Revenue Growth	14.99%	-28.32%	86%	287.81%	-90.4%	33.41%	-33.36%	-9.67%	-2.1%	9.22%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Non Cash Royalty Revenue Related To Sale Of Future Royalties	-	-	-	33.31M	36.3M	48.56M	77.75M	69.79M	68.92M	64.27M
Non Cash Royalty Revenue Related To Sale Of Future Royalties Growth	-	-	-	-	8.99%	33.77%	60.09%	-10.23%	-1.25%	-6.75%
Product	-	-	-	-	20.12M	17.5M	23.73M	20.35M	20.68M	33.56M
Product Growth	-	-	-	-	-	-12.99%	35.54%	-14.23%	1.64%	62.29%
License Collaboration And Other Revenue	-	-	-	-	16.98M	55.85M	436K	1.91M	520K	597K
License Collaboration And Other Revenue Growth	-	-	-	-	-	229.01%	-99.22%	338.76%	-72.82%	14.81%
Royalty	-	-	-	-	41.22M	31M	-	-	-	-
Royalty Growth	-	-	-	-	-	-24.80%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Non-US	-	-	-	-	87.52M	87.95M	91.79M	82.21M	78.64M	97.05M
Non-US Growth	-	-	-	-	-	0.49%	4.37%	-10.44%	-4.35%	23.41%
UNITED STATES	-	39.15M	190.81M	1.09B	27.09M	64.97M	10.11M	9.84M	11.48M	1.38M
UNITED STATES Growth	-	-	387.42%	471.67%	-97.52%	139.79%	-84.43%	-2.70%	16.66%	-88.02%
Europe	190.38M	126.29M	116.9M	102.53M	-	-	-	-	-	-
Europe Growth	-	-33.67%	-7.43%	-12.29%	-	-	-	-	-	-
U S	40.4M	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Nektar Therapeutics (NKTR) reported $62.6M in revenue for fiscal year 2024. This represents a 12% decrease from $71.5M in 2011.

Nektar Therapeutics (NKTR) grew revenue by 9.2% over the past year. This is steady growth.

Nektar Therapeutics (NKTR) reported a net loss of $120.7M for fiscal year 2024.

Dividend & Returns

Nektar Therapeutics (NKTR) has a return on equity (ROE) of -124.1%. Negative ROE indicates the company is unprofitable.

Nektar Therapeutics (NKTR) had negative free cash flow of $190.4M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

...

Nektar Therapeutics (NKTR) 10-Year Financial Performance & Capital Metrics

NKTR • • Industrial / General

HealthcareBiotechnologyOncology TherapeuticsImmuno-Oncology

Revenue $98M +9.2%
EBITDA -$101M +22.2%
Net Income -$119M +56.9%
EPS (Diluted) -8.68 +60.2%
Gross Margin 68.82% +16.0%
EBITDA Margin -102.42% +28.8%
Operating Margin -106.88% +29.9%
Net Margin -120.86% +60.5%
ROE -124.1% -11.8%
ROIC -47.45% -43.5%
Debt/Equity 1.69 +87.8%
Interest Coverage -3.74 +31.0%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 90 (top 10%)
✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow
✗Trading more than 30% below 52-week high

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-6.88%

5Y-3%

3Y-1.15%

TTM-32.79%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM28.26%

EPS CAGR

10Y-

5Y-

3Y-

TTM36.81%

ROCE

10Y Avg-16.66%

5Y Avg-30.69%

3Y Avg-30.73%

Latest-35.71%

Peer Comparison

Immuno-Oncology

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
IMTXImmatics N.V.	1.26B	9.38	67	188.6%	-136.72%	-27.81%	0.03
CTMXCytomX Therapeutics, Inc.	692.99M	4.09	10.76	36.45%	24.66%	26.09%
IOVAIovance Biotherapeutics, Inc.	932.87M	2.35	-1.84	136.99%	-158.78%	-56.62%	0.08
REPLReplimune Group, Inc.	630.68M	8.04	-2.62			-117.82%	0.18
IMNMImmunome, Inc.	2.22B	20.14	-4.03	-35.5%	-23.01%	-84.4%	0.03
NKTRNektar Therapeutics	744.1M	36.58	-4.21	9.22%	-192.87%	-141.9%	1.69
IBRXImmunityBio, Inc.	2.78B	2.82	-4.55	22.71%	-422.28%
CRVSCorvus Pharmaceuticals, Inc.	485.43M	6.50	-6.37			-21.01%	0.03

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	230.78M	165.44M	307.71M	1.19B	114.62M	152.91M	101.91M	92.06M	90.12M	98.43M
Revenue Growth %	0.15%	-0.28%	0.86%	2.88%	-0.9%	0.33%	-0.33%	-0.1%	-0.02%	0.09%
Cost of Goods Sold+	34.1M	30.21M	30.55M	24.41M	21.37M	19.48M	24.9M	21.64M	36.64M	30.69M
COGS % of Revenue	0.15%	0.18%	0.1%	0.02%	0.19%	0.13%	0.24%	0.24%	0.41%	0.31%
Gross Profit+	196.68M	135.22M	277.16M	1.17B	93.24M	133.44M	77.01M	70.42M	53.48M	67.74M
Gross Margin %	0.85%	0.82%	0.9%	0.98%	0.81%	0.87%	0.76%	0.76%	0.59%	0.69%
Gross Profit Growth %	0.14%	-0.31%	1.05%	3.22%	-0.92%	0.43%	-0.42%	-0.09%	-0.24%	0.27%
Operating Expenses+	226.05M	248.08M	320.82M	480.98M	533.28M	513.36M	523.11M	310.66M	190.9M	172.94M
OpEx % of Revenue	0.98%	1.5%	1.04%	0.4%	4.65%	3.36%	5.13%	3.37%	2.12%	1.76%
Selling, General & Admin	43.27M	44.27M	52.36M	81.44M	98.71M	104.68M	122.84M	92.33M	77.42M	76.75M
SG&A % of Revenue	0.19%	0.27%	0.17%	0.07%	0.86%	0.68%	1.21%	1%	0.86%	0.78%
Research & Development	182.79M	203.8M	268.46M	399.54M	434.57M	408.68M	400.27M	218.32M	114.16M	120.91M
R&D % of Revenue	0.79%	1.23%	0.87%	0.33%	3.79%	2.67%	3.93%	2.37%	1.27%	1.23%
Other Operating Expenses	0	0	0	0	0	0	0	0	-676K	-24.72M
Operating Income+	-29.37M	-112.86M	-59.64M	687.93M	-440.04M	-379.92M	-446.1M	-240.24M	-137.43M	-105.2M
Operating Margin %	-0.13%	-0.68%	-0.19%	0.58%	-3.84%	-2.48%	-4.38%	-2.61%	-1.52%	-1.07%
Operating Income Growth %	-0.78%	-2.84%	0.47%	12.53%	-1.64%	0.14%	-0.17%	0.46%	0.43%	0.23%
EBITDA+	-16.52M	-99.66M	-47.04M	696.73M	-429.04M	-367.42M	-431.96M	-228.04M	-129.61M	-100.81M
EBITDA Margin %	-0.07%	-0.6%	-0.15%	0.58%	-3.74%	-2.4%	-4.24%	-2.48%	-1.44%	-1.02%
EBITDA Growth %	-3.64%	-5.03%	0.53%	15.81%	-1.62%	0.14%	-0.18%	0.47%	0.43%	0.22%
D&A (Non-Cash Add-back)	12.86M	13.2M	12.6M	8.8M	11M	12.5M	14.15M	12.2M	7.82M	4.39M
EBIT	-41.77M	-110.47M	-55.12M	725.5M	-393.7M	-406.83M	-475.97M	-336.07M	-250.92M	-91.09M
Net Interest Income+	-37.22M	-39.79M	-36.43M	-5.21M	-19K	-18.84M	-44.58M	-22.13M	-6.33M	-13.61M
Interest Income	1.68M	2.39M	4.52M	37.57M	46.34M	18.28M	2.73M	6.78M	19.01M	14.5M
Interest Expense	38.9M	42.18M	40.95M	42.78M	46.35M	37.12M	47.31M	28.91M	25.33M	28.11M
Other Income/Expense	-51.3M	-39.79M	-36.43M	-5.21M	-19K	-64.03M	-77.18M	-124.75M	-138.83M	-14M
Pretax Income+	-80.67M	-152.65M	-96.08M	682.73M	-440.05M	-443.95M	-523.28M	-364.98M	-276.26M	-119.2M
Pretax Margin %	-0.35%	-0.92%	-0.31%	0.57%	-3.84%	-2.9%	-5.13%	-3.96%	-3.07%	-1.21%
Income Tax+	506K	876K	616K	1.41M	613K	493K	557K	3.21M	-200K	-239K
Effective Tax Rate %	1.01%	1.01%	1.01%	1%	1%	1%	1%	1.01%	1%	1%
Net Income+	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
Net Margin %	-0.35%	-0.93%	-0.31%	0.57%	-3.84%	-2.91%	-5.14%	-4%	-3.06%	-1.21%
Net Income Growth %	-0.51%	-0.89%	0.37%	8.05%	-1.65%	-0.01%	-0.18%	0.3%	0.25%	0.57%
Net Income (Continuing)	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
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)+	-9.15	-16.50	-9.30	56.70	-37.80	-37.33	-42.90	-29.51	-21.79	-8.68
EPS Growth %	-0.45%	-0.8%	0.44%	7.1%	-1.67%	0.01%	-0.15%	0.31%	0.26%	0.6%
EPS (Basic)	-9.15	-16.50	-9.30	56.70	-37.80	-37.33	-42.90	-29.51	-21.79	-8.68
Diluted Shares Outstanding	8.83M	9.31M	10.4M	12.01M	11.67M	11.91M	12.22M	12.48M	12.67M	13.71M
Basic Shares Outstanding	8.83M	9.3M	10.4M	12.01M	11.67M	11.91M	12.22M	12.48M	12.67M	13.71M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	350.05M	426.25M	326.82M	1.44B	1.42B	1.14B	795.58M	545.97M	330.7M	261.29M
Cash & Short-Term Investments	308.94M	389.1M	296.13M	1.34B	1.32B	1.06B	733.96M	504.98M	303.62M	255.23M
Cash Only	55.57M	59.64M	4.76M	194.91M	96.36M	198.96M	25.22M	88.23M	35.28M	44.25M
Short-Term Investments	253.37M	329.46M	291.37M	1.14B	1.23B	862.94M	708.74M	416.75M	268.34M	210.97M
Accounts Receivable	19.95M	15.68M	5.01M	43.21M	36.8M	38.89M	22.49M	8.4M	2.25M	1.61M
Days Sales Outstanding	31.55	34.59	5.95	13.22	117.2	92.83	80.56	33.32	9.12	5.97
Inventory	11.35M	11.11M	10.73M	11.38M	12.66M	15.29M	15.8M	19.2M	16.1M	0
Days Inventory Outstanding	121.44	134.2	128.16	170.16	216.28	286.57	231.65	323.95	160.38	-
Other Current Assets	9.81M	10.36M	14.35M	21.29M	15.39M	0	0	0	0	0
Total Non-Current Assets+	152.01M	142.62M	182.05M	712.49M	555.81M	400.76M	321.61M	164.63M	67.33M	42.56M
Property, Plant & Equipment	71.34M	65.6M	47.46M	48.85M	199.84M	186.14M	177.53M	85.89M	36.86M	11.82M
Fixed Asset Turnover	3.24x	2.52x	6.48x	24.43x	0.57x	0.82x	0.57x	1.07x	2.44x	8.32x
Goodwill	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	76.5M	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
Long-Term Investments	0	0	57.09M	582.89M	279.12M	136.66M	64.83M	0	25.82M	26.09M
Other Non-Current Assets	4.17M	517K	994K	4.24M	344K	1.46M	2.74M	2.25M	4.64M	4.65M
Total Assets+	502.06M	568.87M	508.87M	2.15B	1.98B	1.54B	1.12B	710.6M	398.03M	303.85M
Asset Turnover	0.46x	0.29x	0.60x	0.55x	0.06x	0.10x	0.09x	0.13x	0.23x	0.32x
Asset Growth %	0.14%	0.13%	-0.11%	3.23%	-0.08%	-0.22%	-0.27%	-0.36%	-0.44%	-0.24%
Total Current Liabilities+	61.25M	72.22M	56.16M	82M	353.89M	115.78M	85.2M	68.2M	51.27M	61.4M
Accounts Payable	2.36M	2.82M	4.78M	5.85M	19.23M	22.14M	9.75M	12.98M	9.85M	11.56M
Days Payables Outstanding	25.29	34.02	57.14	87.53	328.46	414.89	142.89	218.98	98.09	137.5
Short-Term Debt	4.76M	2.91M	0	0	252.89M	0	0	0	0	0
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	91K	0	0	0	0
Other Current Liabilities	21.95M	32.37M	24.17M	52.32M	11.47M	14.44M	15.73M	9.58M	5.55M	5.55M
Current Ratio	5.72x	5.90x	5.82x	17.53x	4.02x	9.83x	9.34x	8.00x	6.45x	4.26x
Quick Ratio	5.53x	5.75x	5.63x	17.39x	3.98x	9.70x	9.15x	7.72x	6.14x	4.26x
Cash Conversion Cycle	127.69	134.77	76.97	95.86	5.02	-35.49	169.31	138.29	71.41	-
Total Non-Current Liabilities+	434.39M	408.52M	364.88M	350.6M	218.07M	345.69M	352.48M	275.76M	215.78M	181.71M
Long-Term Debt	241.7M	243.46M	245.21M	246.95M	0	0	0	0	0	0
Capital Lease Obligations	1.07M	2.22M	0	0	142.73M	136.37M	125.74M	112.83M	98.52M	82.7M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	125.77M	110.95M	100.65M	92.9M	72.79M	206.86M	226.75M	162.93M	117.26M	99.02M
Total Liabilities	495.63M	480.75M	421.04M	432.6M	571.97M	461.47M	437.68M	343.96M	267.05M	243.11M
Total Debt+	247.94M	248.59M	245.21M	246.95M	408.14M	150.29M	143.18M	131.5M	117.78M	102.56M
Net Debt	192.37M	188.96M	240.44M	52.05M	311.77M	-48.67M	117.96M	43.27M	82.5M	58.31M
Debt / Equity	38.57x	2.82x	2.79x	0.14x	0.29x	0.14x	0.21x	0.36x	0.90x	1.69x
Debt / EBITDA	-	-	-	0.35x	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	0.07x	-	-	-	-	-	-
Interest Coverage	-0.76x	-2.68x	-1.46x	16.08x	-9.49x	-10.24x	-9.43x	-8.31x	-5.42x	-3.74x
Total Equity+	6.43M	88.13M	87.83M	1.72B	1.41B	1.08B	679.51M	366.64M	130.99M	60.74M
Equity Growth %	-0.82%	12.71%	-0%	18.56%	-0.18%	-0.23%	-0.37%	-0.46%	-0.64%	-0.54%
Book Value per Share	0.73	9.47	8.45	143.04	120.47	90.49	55.61	29.39	10.34	4.43
Total Shareholders' Equity	6.43M	88.13M	87.83M	1.72B	1.41B	1.08B	679.51M	366.64M	130.99M	60.74M
Common Stock	13K	15K	15K	17K	17K	18K	19K	19K	19K	19K
Retained Earnings	-1.87B	-2.02B	-2.12B	-1.42B	-1.86B	-2.31B	-2.83B	-3.2B	-3.48B	-3.6B
Treasury Stock	0	0	0	0	0	0	0	0	0	-3M
Accumulated OCI	-2.17M	-2.36M	-2.11M	-6.32M	-1M	-2.29M	-4.16M	-6.91M	80K	61K
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-73.08M	-117.02M	-80.41M	718.21M	-328.68M	-313.29M	-412.66M	-304.01M	-192.61M	-175.71M
Operating CF Margin %	-0.32%	-0.71%	-0.26%	0.6%	-2.87%	-2.05%	-4.05%	-3.3%	-2.14%	-1.79%
Operating CF Growth %	0.49%	-0.6%	0.31%	9.93%	-1.46%	0.05%	-0.32%	0.26%	0.37%	0.09%
Net Income	-81.18M	-153.52M	-96.69M	681.31M	-440.67M	-444.44M	-523.84M	-368.2M	-276.06M	-118.96M
Depreciation & Amortization	12.86M	15.35M	14.74M	10.87M	13.16M	14.18M	14.15M	13.03M	7.82M	4.39M
Stock-Based Compensation	19.67M	25.85M	36.62M	88.1M	99.8M	94.26M	94.67M	57.32M	33.39M	21.61M
Deferred Taxes	1.58M	0	15.08M	0	0	20.35M	8.02M	2.71M	-140K	0
Other Non-Cash Items	8.7M	-12.63M	-12.54M	-23.06M	-22.65M	-14.35M	17.41M	-9.36M	62.19M	-76.51M
Working Capital Changes	-34.7M	7.93M	-37.62M	-39.01M	21.69M	16.71M	-23.08M	492K	-19.8M	-6.24M
Change in Receivables	-16.34M	4.27M	10.66M	-25.5M	6.41M	1.91M	12.4M	16.51M	4.78M	-3.04M
Change in Inventory	1.61M	237K	383K	-655K	-1.28M	-2.63M	-509K	-3.4M	699K	497K
Change in Payables	-412K	518K	2.07M	971K	12.97M	2.38M	-11.69M	3.1M	-2.88M	2.67M
Cash from Investing+	-14.34M	-82.4M	-28.81M	-1.38B	206.89M	496.21M	202.78M	365.83M	139.56M	142.57M
Capital Expenditures	-11.2M	-6.39M	-9.68M	-14.24M	-26.29M	-7.26M	-14.99M	-5.68M	-865K	-1.47M
CapEx % of Revenue	0.05%	0.04%	0.03%	0.01%	0.23%	0.05%	0.15%	0.06%	0.01%	0.01%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	25M	-76.01M	-19.13M	2.63M	0	503.47M	217.77M	0	1.25M	0
Cash from Financing+	130.78M	203.62M	54.39M	851.97M	23.36M	-80.35M	36.24M	1.51M	30K	42.12M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	20.29M	59.52M	61.73M	23.36M	0	3M	750K	0	45.12M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-84.28M	-123.42M	-90.09M	703.98M	-354.97M	-320.55M	-427.65M	-309.68M	-193.47M	-177.18M
FCF Margin %	-0.37%	-0.75%	-0.29%	0.59%	-3.1%	-2.1%	-4.2%	-3.36%	-2.15%	-1.8%
FCF Growth %	0.45%	-0.46%	0.27%	8.81%	-1.5%	0.1%	-0.33%	0.28%	0.38%	0.08%
FCF per Share	-9.54	-13.26	-8.67	58.63	-30.43	-26.92	-35.00	-24.82	-15.27	-12.92
FCF Conversion (FCF/Net Income)	0.90x	0.76x	0.83x	1.05x	0.75x	0.70x	0.79x	0.83x	0.70x	1.48x
Interest Paid	-20.23M	20.59M	20.12M	19.47M	19.2M	9.74M	0	0	0	0
Taxes Paid	-860K	757K	556K	618K	555K	539K	325K	272K	2.66M	76K

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-379.68%	-324.73%	-109.91%	75.47%	-28.22%	-35.8%	-59.64%	-70.39%	-110.95%	-124.1%
Return on Invested Capital (ROIC)	-12.36%	-35.57%	-14.78%	49.19%	-18.93%	-20.75%	-36.64%	-29.85%	-33.07%	-47.45%
Gross Margin	85.22%	81.74%	90.07%	97.95%	81.35%	87.26%	75.57%	76.5%	59.34%	68.82%
Net Margin	-35.17%	-92.8%	-31.42%	57.09%	-384.47%	-290.65%	-514.03%	-399.98%	-306.31%	-120.86%
Debt / Equity	38.57x	2.82x	2.79x	0.14x	0.29x	0.14x	0.21x	0.36x	0.90x	1.69x
Interest Coverage	-0.76x	-2.68x	-1.46x	16.08x	-9.49x	-10.24x	-9.43x	-8.31x	-5.42x	-3.74x
FCF Conversion	0.90x	0.76x	0.83x	1.05x	0.75x	0.70x	0.79x	0.83x	0.70x	1.48x
Revenue Growth	14.99%	-28.32%	86%	287.81%	-90.4%	33.41%	-33.36%	-9.67%	-2.1%	9.22%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Non Cash Royalty Revenue Related To Sale Of Future Royalties	-	-	-	33.31M	36.3M	48.56M	77.75M	69.79M	68.92M	64.27M
Non Cash Royalty Revenue Related To Sale Of Future Royalties Growth	-	-	-	-	8.99%	33.77%	60.09%	-10.23%	-1.25%	-6.75%
Product	-	-	-	-	20.12M	17.5M	23.73M	20.35M	20.68M	33.56M
Product Growth	-	-	-	-	-	-12.99%	35.54%	-14.23%	1.64%	62.29%
License Collaboration And Other Revenue	-	-	-	-	16.98M	55.85M	436K	1.91M	520K	597K
License Collaboration And Other Revenue Growth	-	-	-	-	-	229.01%	-99.22%	338.76%	-72.82%	14.81%
Royalty	-	-	-	-	41.22M	31M	-	-	-	-
Royalty Growth	-	-	-	-	-	-24.80%	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Non-US	-	-	-	-	87.52M	87.95M	91.79M	82.21M	78.64M	97.05M
Non-US Growth	-	-	-	-	-	0.49%	4.37%	-10.44%	-4.35%	23.41%
UNITED STATES	-	39.15M	190.81M	1.09B	27.09M	64.97M	10.11M	9.84M	11.48M	1.38M
UNITED STATES Growth	-	-	387.42%	471.67%	-97.52%	139.79%	-84.43%	-2.70%	16.66%	-88.02%
Europe	190.38M	126.29M	116.9M	102.53M	-	-	-	-	-	-
Europe Growth	-	-33.67%	-7.43%	-12.29%	-	-	-	-	-	-
U S	40.4M	-	-	-	-	-	-	-	-	-
U S Growth	-	-	-	-	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Nektar Therapeutics (NKTR) reported $62.6M in revenue for fiscal year 2024. This represents a 12% decrease from $71.5M in 2011.

Nektar Therapeutics (NKTR) grew revenue by 9.2% over the past year. This is steady growth.

Nektar Therapeutics (NKTR) reported a net loss of $120.7M for fiscal year 2024.

Dividend & Returns

Nektar Therapeutics (NKTR) has a return on equity (ROE) of -124.1%. Negative ROE indicates the company is unprofitable.

Nektar Therapeutics (NKTR) had negative free cash flow of $190.4M in fiscal year 2024, likely due to heavy capital investments.