Financial stability is severely compromised, with total assets contracting to $18.4 million and equity falling into a negative position of -$4.4 million as of 2025Q2.
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 12.55M | 11.91M | 16.14M | 85.9M | 89.15M | 70.5M | 53.21M | 56.79M | 51.68M | 67.81M | 60.51M | 26.02M | 12.6M | 18.56M | 18.74M |
| Cash & Short-Term Investments | 2.87M | 4.62M | 6.36M | 19.98M | 38M | 29.79M | 47.87M | 53.19M | 46.2M | 66.15M | 58.14M | 22.95M | 12.11M | 18.36M | 18.65M |
| Cash Only | 2.87M | 4.62M | 5.57M | 19.97M | 29.47M | 29.3M | 29.02M | 29M | 16.45M | 53.79M | 21.52M | 5.89M | 11.85M | 16.81M | 14.07M |
| Short-Term Investments | 0 | 0 | 790.04K | 15K | 8.53M | 498K | 18.85M | 24.18M | 29.75M | 12.37M | 36.62M | 17.05M | 262K | 1.55M | 4.58M |
| Accounts Receivable | 6.36M | 3.57M | 3.29M | 37.88M | 32.52M | 29.29M | 1.64M | 1.4M | 2.26M | 492K | 220K | 1.06M | 0 | 84K | 19K |
| Days Sales Outstanding | 170.22 | 161.83 | 183.62 | 223.7 | 138.43 | 166.11 | 94.86 | 60.91 | 206.05 | 1.78K | 26.77K | 55.37 | - | 1.92K | 301.52 |
| Inventory | 3.17M | 3.65M | 4.39M | 11.01M | 14.81M | 6.53M | 1.88M | 769K | 653K | 1.11M | -34.47M | -15.04M | -366K | -951K | -1.49M |
| Days Inventory Outstanding | 366.61 | 417.49 | 463.14 | 120.54 | 109.41 | 64.57 | 304.09 | 98.94 | 112.11 | 13.31 | - | - | - | - | - |
| Other Current Assets | 160K | 0 | 797.04K | 16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 5.82M | 6.13M | 6.91M | 72.97M | 92.04M | 109.75M | 20.89M | 5.62M | 5.67M | 6.4M | 6.32M | 2.84M | 1.74M | 1.53M | 1.45M |
| Property, Plant & Equipment | 289K | 437K | 1.18M | 7.19M | 4.22M | 5.7M | 3.81M | 163K | 230K | 165K | 124K | 146K | 103K | 113K | 132K |
| Fixed Asset Turnover | 26.31x | 18.41x | 5.52x | 8.59x | 20.31x | 11.29x | 1.65x | 51.29x | 17.42x | 0.61x | 0.02x | 48.04x | 0.12x | 0.14x | 0.17x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 5.53M | 5.55M | 5.58M | 65.63M | 71.64M | 87.88M | 16.93M | 5.32M | 5.29M | 6.09M | 6.06M | 2.62M | 1.55M | 1.34M | 1.25M |
| Long-Term Investments | 0 | 148K | 147K | 150K | 16.17M | 0 | 152K | 140K | 152K | 137K | 134K | 76K | 81K | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 41 | 150K | 16.17M | 32.33M | -20.73M | -5.62M | 152K | 137K | 134K | 76K | 81K | 75K | 73K |
| Total Assets | 18.38M | 18.04M | 23.05M | 158.87M | 181.19M | 180.24M | 74.1M | 62.41M | 57.34M | 74.21M | 66.83M | 28.86M | 14.34M | 20.1M | 20.19M |
| Asset Turnover | 0.52x | 0.45x | 0.28x | 0.39x | 0.47x | 0.36x | 0.08x | 0.13x | 0.07x | 0.00x | 0.00x | 0.24x | 0.00x | 0.00x | 0.00x |
| Asset Growth % | -76.56% | -21.71% | -85.49% | -12.32% | 0.53% | 143.24% | 18.73% | 8.84% | -22.73% | 11.05% | 131.59% | 101.23% | -28.64% | -0.45% | - |
| Total Current Liabilities | 22.29M | 22.22M | 19.24M | 197.45M | 81.47M | 73.23M | 10.62M | 10.38M | 11.83M | 5.36M | 5.51M | 1.72M | 2.42M | 1.08M | 513K |
| Accounts Payable | 835K | 7.86M | 3.28M | 4.23M | 11.66M | 11.55M | 4.18M | 3.32M | 4.8M | 60K | 119K | 66K | 884K | 313K | 337K |
| Days Payables Outstanding | 287.57 | 898.89 | 345.9 | 46.31 | 86.17 | 114.3 | 676.03 | 427.66 | 824.94 | 0.72 | 1.97 | 22.94 | - | - | - |
| Short-Term Debt | 0 | 353K | 718K | 115.22M | 1.62M | 1.71M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 37.31M | 19.51M | 5.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 10.55M | 10.96M | 10.76M | 49.65M | 12.03M | -1.71M | -2.89M | 1.46M | 1.06M | 393K | 325K | 320K | 1.33M | 615K | 124K |
| Current Ratio | 0.56x | 0.54x | 0.84x | 0.44x | 1.09x | 0.96x | 5.01x | 5.47x | 4.37x | 12.66x | 10.97x | 15.13x | 5.22x | 17.22x | 36.52x |
| Quick Ratio | 0.42x | 0.37x | 0.61x | 0.38x | 0.91x | 0.87x | 4.84x | 5.40x | 4.31x | 12.45x | 17.23x | 23.87x | 5.37x | 18.10x | 39.43x |
| Cash Conversion Cycle | 249.27 | -319.58 | 300.85 | 297.92 | 161.67 | 116.37 | -277.09 | -267.81 | -506.78 | 1.79K | - | - | - | - | - |
| Total Non-Current Liabilities | 500K | 503K | 1.74M | 9.82M | 90.84M | 93.14M | 3.48M | 844K | 448K | 6.16M | 1.24M | 2.13M | 0 | 0 | 886K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 83.62M | 81.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 6K | 3K | 455K | 6.44M | 2.57M | 3.81M | 2.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 500K | 500K | 540K | 3.37M | 4.65M | 7.95M | 500K | 844K | 448K | 6.16M | 1.24M | 2.13M | 0 | 0 | 886K |
| Total Liabilities | 22.79M | 22.73M | 20.98M | 207.27M | 172.31M | 166.38M | 14.1M | 11.22M | 12.28M | 11.51M | 6.75M | 3.85M | 2.42M | 1.08M | 1.4M |
| Total Debt | 214K | 356K | 1.17M | 122.69M | 87.81M | 86.9M | 3.81M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -2.65M | -4.26M | -4.4M | 102.72M | 58.34M | 57.61M | -25.21M | -29M | -16.45M | -53.79M | -21.52M | -5.89M | -11.85M | -16.81M | -14.07M |
| Debt / Equity | -0.05x | - | 0.57x | - | 9.89x | 6.27x | 0.06x | - | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.02x | - | 0.08x | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.26x | - | -0.30x | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -7.99x | -265.69x | 34.42x | -1.04x | -4.90x | -5.12x | -98.31x | -235.51x | -674.96x | -4363.29x | -1833.50x | -483.95x | -769.43x | -6.10x | -121.12x |
| Total Equity | -4.41M | -4.68M | 2.07M | -48.4M | 8.88M | 13.86M | 60M | 51.19M | 45.06M | 62.7M | 60.08M | 25.01M | 11.93M | 19.02M | 18.79M |
| Equity Growth % | -15318.26% | -326.34% | 104.27% | -645.35% | -35.99% | -76.89% | 17.22% | 13.58% | -28.13% | 4.37% | 140.2% | 109.74% | -37.3% | 1.23% | - |
| Book Value per Share | -2.45 | -1.90 | 3.99 | -390.77 | 95.37 | 190.30 | 1010.41 | 1106.96 | 1276.12 | 2434.05 | 2688.97 | 1433.79 | 955.91 | 1807.97 | 1953.52 |
| Total Shareholders' Equity | -4.41M | -4.68M | 2.07M | -48.4M | 8.88M | 13.86M | 60M | 51.19M | 45.06M | 62.7M | 60.08M | 25.01M | 11.93M | 19.02M | 18.79M |
| Common Stock | 63.4M | 35.04M | 21.44M | 2.83M | 1.5M | 1.05M | 962K | 767K | 575K | 441K | 343K | 240K | 174K | 143K | 142K |
| Retained Earnings | -418.12M | -414.8M | -407.74M | -433.86M | -367.87M | -280.33M | -208.36M | -169.09M | -132.94M | -89.64M | -61.94M | -42.22M | -33.26M | -23.89M | -15.21M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -341K | -251K | -170K | -126K | -90K | -63K | -39K | -15K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
According to recent financial statements, RedHill's total assets have plummeted from $58.8 million in 2023Q1 to just $18.4 million by 2025Q2, signaling a severe contraction in the company's resource base as it struggles to sustain operations amidst persistent, deep-seated operating losses.
The consistent decline in total assets suggests that the company is consuming its capital base to fund ongoing commercialization efforts rather than generating self-sustaining growth. This trajectory implies that the firm's ability to support its current infrastructure is rapidly diminishing, necessitating urgent strategic intervention.
As reported in quarterly filings, the company's cash position has dwindled to $2.9 million as of 2025Q2, while the current ratio remains constrained at 0.56, indicating a significant inability to cover short-term obligations without immediate access to external financing or asset liquidation.
A current ratio consistently below 1.0 suggests that the company is operating in a state of chronic liquidity stress. Investors should monitor this closely, as the current cash runway appears insufficient to support the high fixed-cost structure required for its specialty GI product portfolio.
Based on the reported figures, RedHill's equity has shifted into negative territory at -$4.4 million as of 2025Q2, a stark reversal from the $3.5 million reported in 2023Q2, driven primarily by the accumulation of massive retained losses totaling over $418 million.
The transition to negative equity highlights the extent to which historical operating losses have eroded the company's book value. This trend suggests that shareholders are facing significant dilution risks, as the firm may be forced to issue equity to address its precarious solvency position.
Data from recent balance sheets reveals that goodwill remains stagnant at $5.5 million despite the company's deteriorating financial health, which may indicate an overvaluation of intangible assets that warrants further investigation for potential impairment risks in future reporting periods.
Maintaining high goodwill levels while the underlying business struggles to reach profitability suggests a potential disconnect between accounting valuations and market realities. If the company fails to achieve its commercial targets, these intangible assets could become a source of significant balance sheet volatility.
Quick answers to the most common questions about buying RDHL stock.
As of 2024, RedHill Biopharma Ltd. (RDHL) had total assets of $18.0M including $11.9M in current assets.
RedHill Biopharma Ltd. (RDHL) carries total debt of $0.4M, offset by $4.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
RedHill Biopharma Ltd. (RDHL) has total shareholders' equity (book value) of $-4.7M ($-1.90 book value per share). Book value represents the net worth of the company belonging to common stock holders.
RedHill Biopharma Ltd. (RDHL) reported a current ratio of 0.54x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.