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Alkermes plc

ALKS Healthcare Drug Manufacturers Specialty & Generic

Alkermes plc’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, down 5.25% from fiscal 2024.

Revenue
+21.8%
EPS
−80.6%
Free cash flow
+6.78%

Quarter to September 2026, against a year earlier

45.66 1.12 +2.51%
Market cap
$7.5B
P/E
0.0×
Fwd P/E
−85.9×
Dividend yield
—
F-score
7/9
Altman Z
5.33
Beneish M
−3.29
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • VIVITROL
  • ARISTADA and ARISTADA INITIO
  • LYBALVI
  • Royalty
  • Manufacturing Revenue

Every year since 2010 →

Insider Decisions last twelve months

Sold, $m 9.98
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 1 2 2 4 2 3 3 2 4 2 1 1
Insider Ownership 3.05%

Capital & Financial Ratios $m

Size
Market Cap 7,480.00
Revenue ttm 1,753.60
Net income ttm (0.35)
Free cash flow ttm 228.43
Net debt Q 742.27
Valuation
P/E 0.00
Forward P/E (85.90) (negative: loss-making)
Price / sales 4.37
Forward P/S Powerpack
Price / FCF 33.55
Price / book 4.11
Financial health
Current ratio Q 2.42 (at or above 1.5: strong)
Debt / equity Q 0.80
Interest coverage Q 1.31
Growth
Revenue growth Q +21.80% (above 0%: growing)
Operating income growth Q −59.56% (below 0%: shrinking)
EPS, this year −137.22% (below 0%: weak)
EPS, next year A +208.30% (at or above 15%: strong)
Revenue, next year A +23.59% (at or above 10%: strong)
EPS, past 5 yrs —
EPS, next 5 yrs A −11.42% (below 0%: weak)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 4.8×, against a ten-year median of 3.1×; over the ten years it ranged from 1.5× in 2020 to 11.2× in 2016.
P/S against its own 10 years 67.63%
10-year low 10-year high
P/B against its own 10 years 64.41%
10-year low 10-year high
EV/Sales against its own 10 years 70.42%
10-year low 10-year high
EV/FCF against its own 10 years 55.15%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 773 752 1,319 755
Receivables 332 385 334 459
Inventory 186 183 197 261
Other 95 5 — —
1,486 1,415 1,929 1,581
2023 2024 2025 Q'26
Payables 241 185 290 294
ST’ Debt 3 — — 27
Other — — — —
520 465 543 652

Compound Annual Growth %

10y 5y 3y
Sales 8.91% 7.28% 9.90%
Cash Flow 0.00% 44.44% 191.41%
Earnings 0.00% 0.00% 0.00%
Book Value 3.31% 11.26% 20.35%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate −0.08 Actual 0.09

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.43 0.46 Beat by 0.03
Q1 FY26 −0.57 −0.40 Beat by 0.17
Q2 FY26 −0.04 0.00 Beat by 0.04
Q3 FY26 −0.08 0.09 Beat by 0.17
Q4 FY26 −0.13 — Reports 24 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.40) 0.00 0.09 — —
’25 0.13 0.52 0.49 0.29 1.43
’24 0.21 0.53 0.55 0.88 2.17
’23 (0.25) 1.38 0.28 0.66 2.10
’22 (0.22) (0.18) (0.39) (0.17) (0.97)
’21 (0.14) 0.01 (0.18) 0.01 (0.30)
’20 (0.24) (0.19) 0.00 (0.27) (0.70)
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 393 496 480 — —
’25 307 391 394 385 1,476
’24 350 399 378 430 1,558
’23 288 617 381 377 1,663
’22 279 276 252 305 1,112
’21 251 304 294 324 1,174
’20 246 248 265 280 1,039
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (166) 145 93 — —
’25 99 150 102 170 521
’24 21 146 82 190 439
’23 (21) 216 100 107 401
’22 22 (2) 1 1 21
’21 (45) 33 83 31 102
’20 (40) (4) 60 67 83
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (170) 137 90 — —
’25 90 136 84 171 481
’24 13 139 73 181 406
’23 (28) 206 85 91 354
’22 14 (12) (10) (9) (17)
’21 (53) 26 78 22 73
’20 (60) (15) 54 62 41
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 24.0% a year for ten years.

Implied
24.0%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.6
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 746 903 1,094 1,171 1,039 1,174 1,112 1,663 1,558 1,476 1,754 +7.9% 1,824 1,944 2,116 +12.8%
Gross margin, % 82.28 82.87 83.88 84.59 82.83 83.19 80.39 84.79 84.25 86.69 82.89 +4.4 pt
EBT (214) (143) (127) (197) (97) 88 (31) 422 444 291 11 n/m
EBT margin, % (28.75) (15.86) (11.60) (16.83) (9.29) 7.47 (2.80) 25.34 28.49 19.75 0.65 +48.5 pt
Net income (208) (158) (139) (197) (111) (48) (158) 356 367 242 0 n/m
Per share, $
Per share, $ Revenue 4.92 5.89 7.05 7.46 6.54 7.29 6.79 10.01 9.42 8.96 10.45 +6.9%
Earnings (1.38) (1.03) (0.90) (1.25) (0.70) (0.30) (0.97) 2.14 2.22 1.47 0.00 n/m
Cash flow (0.42) 0.13 0.64 0.46 0.52 0.63 0.13 2.41 2.66 3.16 1.45 n/m
Capex (0.29) (0.33) (0.44) (0.57) (0.26) (0.18) (0.23) (0.29) (0.20) (0.24) (0.09) (2.0%)
Free cash flow (0.71) (0.21) 0.20 (0.11) 0.26 0.45 (0.11) 2.13 2.46 2.92 1.36 n/m
Book value 7.98 7.84 7.55 6.91 6.72 6.91 6.37 7.24 8.86 11.05 11.11 +3.7%
Shares, m 151 153 155 157 159 161 164 166 165 165 166 +0.9%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 0.00 0.00 0.00 0.00 13.31 12.90 19.03 0.00 4.5
P/S 10.61 8.73 3.89 2.55 2.84 2.97 3.55 2.86 3.05 3.12 4.37 4.4
P/B 6.54 6.56 3.64 2.75 2.76 3.13 3.78 3.96 3.25 2.53 4.11 3.9
EV/Sales 10.32 8.56 3.66 2.33 2.49 2.76 3.26 2.57 2.76 2.42 4.79 4.1
EV/FCF (71.76) (242.06) 131.80 (151.66) 62.74 43.85 (210.78) 12.09 10.57 7.43 36.80 (40.8)
Cash, $m
Cash, $m Operating cash flow (64) 19 99 72 83 102 21 401 439 521 243 n/m
Capex (43) (51) (69) (90) (42) (29) (38) (48) (33) (39) (15) (1.1%)
Free cash flow (107) (32) 30 (18) 41 73 (17) 354 406 481 228 n/m
Balance, $m
Balance, $m Working capital 579 518 643 571 673 591 633 965 950 1,386 929 +10.2%
Net debt (214) (152) (260) (258) (360) (241) (315) (483) (752) (1,319) 742 +22.4%
Shareholders’ equity 1,209 1,203 1,171 1,085 1,067 1,113 1,044 1,203 1,465 1,819 1,865 +4.6%
Returns, %
Returns, % ROA (11.64) (8.96) (7.69) (10.83) (5.90) (2.42) (7.94) 17.35 17.51 10.64 (0.01) +22.3 pt
ROIC (13.10) (8.80) (6.80) (13.25) (9.94) 7.01 (0.52) 35.95 36.86 31.75 1.54 +44.9 pt
ROE (16.52) (13.10) (11.74) (17.43) (10.30) (4.42) (14.68) 31.67 27.52 14.72 (0.02) +31.2 pt
People
People Employees 1,750 2,000 2,300 2,235 2,245 2,211 2,280 2,100 1,800 2,050 — +1.8%
Revenue/emp, $m 0.43 0.45 0.48 0.52 0.46 0.53 0.49 0.79 0.87 0.72 — +6.0%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

Alkermes is a biopharmaceutical company focused on neuroscience. It develops and sells medicines for alcohol and opioid dependence, schizophrenia, bipolar I disorder and narcolepsy. The company is headquartered in Ireland, with a corporate office and research center in Massachusetts and a manufacturing facility in Ohio. Blair Jackson is its chief executive.

Its U.S. products include VIVITROL, a monthly injection for alcohol dependence and prevention of relapse to opioid dependence after detoxification. ARISTADA is an extended-release injection for schizophrenia; ARISTADA INITIO helps patients start or restart ARISTADA treatment. LYBALVI is a daily oral medicine for adults with schizophrenia or bipolar I disorder.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
VIVITROL 468 31.70%
ARISTADA and ARISTADA INITIO 370 25.07%
LYBALVI 347 23.49%
Royalty 245 16.62%
Manufacturing Revenue 46 3.12%
Gross margin 86.69%
Operating margin 17.21%
Pre-tax margin 19.75%

Revenue by segment since 2010

Alkermes plc vs peers in Drug Manufacturers Specialty & Generic (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
RDY Dr. Reddy's Laboratories Ltd $12.1B 45.4× 30.7× −10.09% (below 0%: shrinking) −36.84% (below 0%: shrinking) −70.49% (below 0%: shrinking) 52.13% 14.63% Compare
ELAN Elanco Animal Health Incorporated $11.8B — (loss-making) 161× +11.26% (above 0%: growing) n/m +22.83% (above 0%: growing) 56.92% 0.00% Compare
ALKS Alkermes plc $7.5B — (loss-making) — (loss-making) +21.80% (above 0%: growing) −80.60% (below 0%: shrinking) +6.78% (above 0%: growing) 80.38% 7.50%
KNSA Kiniksa Pharmaceuticals International, plc $6.9B 65.9× 67.8× +58.12% (above 0%: growing) +142.20% (above 0%: growing) +43.51% (above 0%: growing) 90.29% 18.97% Compare
AMRX AMNEAL PHARMACEUTICALS, INC. $6.8B 38.2× 44.2× +9.96% (above 0%: growing) +267.00% (above 0%: growing) −50.92% (below 0%: shrinking) 38.73% 11.06% Compare
LNTH Lantheus Holdings, Inc. $6.6B 24.3× 21.3× +1.54% (above 0%: growing) −16.44% (below 0%: shrinking) +7.71% (above 0%: growing) 62.43% 8.26% Compare
HIMS Hims & Hers Health, Inc. $5.6B — (loss-making) — (loss-making) +38.25% (above 0%: growing) n/m +5.09% (above 0%: growing) 63.83% (12.90%) Compare
SUPN Indivior Pharmaceuticals Inc. $5.6B 7.0× 9.5× +13.38% (above 0%: growing) +241.47% (above 0%: growing) +240.68% (above 0%: growing) 85.67% 50.84% Compare
LQDA Liquidia Corporation $4.0B 28.4× 22.1× +1,842.73% (above 0%: growing) n/m +270.23% (above 0%: growing) 93.27% 49.81% Compare
Median of peers $6.7B 33.3× 30.7× +12.32% +142.20% +15.27% 63.13% 12.85%

All 84 Drug Manufacturers Specialty & Generic stocks →

From the latest earnings call

Updated

  • CEO Blair Jackson said Alkermes is advancing its orexin portfolio and expects idiopathic hypersomnia study results around year-end or early next year.
  • CFO Joshua Reed attributed the rise in quarterly selling, general and administrative expenses primarily to the addition of Avadel’s commercial infrastructure.

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 7.92m 12.59m 142.53
2024 10.13m 14.63m 146.50
2023 9.44m 8.98m 141.31
2022 10.31m 8.32m 130.98
2021 8.85m 11.23m 116.59
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Read the proxy statement

Alkermes plc (ALKS) Latest News

3 Nov

Impact 3 · · GuruFocus.com
Impact 3 · · The Motley Fool transcript
Impact 3 · · MarketBeat transcript
Impact 3 · · Moby

20 Oct

Impact 3 · · Business Wire

13 Oct

Impact 4 · · Business Wire

9 Oct

Impact 3 · · Simply Wall St.

5 Oct

Impact 3 · · Insider Monkey

30 Sep

Impact 3 · · Zacks

25 Sep

Impact 3 · · Insider Monkey

23 Sep

Impact 3 · · Simply Wall St.

22 Sep

Impact 3 · · MT Newswires
Impact 3 · · Zacks

21 Sep

Impact 4 ·
Impact 3 · · InvestorsHub

24 Aug

Impact 4 ·

29 Jul

Impact 4 ·
Impact 3 · · Moby transcript

28 Jul

Impact 3 ·
Impact 3 · · MarketBeat transcript
Impact 3 ·
Impact 3 ·

21 Jul

Impact 3 ·

13 Jul

Impact 4 ·

30 Jun

Impact 4 ·

29 Jun

Impact 3 ·

26 Jun

Impact 4 · · biopharmadive.com

17 Jun

Impact 4 ·

16 Jun

Impact 3 ·

15 Jun

Impact 3 ·

ALKS metrics, ten years each

stockrow.com/ALKS · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com