Pricing Log in Create free account
Friday 6 November 2026 Export CORT’s income statement to Excel — free account

Corcept Therapeutics Incorporated

CORT Healthcare Biotechnology

Corcept Therapeutics Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $761.4 million, up 12.8% from fiscal 2024.

Revenue
+64.0%
EPS
+525.8%
Free cash flow
+161.0%

Quarter to September 2026, against a year earlier

72.68 1.05 +1.47%
Market cap
$7.8B
P/E
47.5×
Fwd P/E
39.8×
Dividend yield
—
F-score
4/9
Altman Z
14.11
Beneish M
−2.76
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Valuation Filings

Insider Decisions last twelve months

Bought, $m 3.31
Sold, $m 92.02
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — 1 — — — — — — — —
Sell 1 1 1 3 1 4 7 5 11 5 4 2
Insider Ownership 10.18%

Capital & Financial Ratios $m

Size
Market Cap 7,840.00
Revenue ttm 963.65
Net income ttm 162.29
Free cash flow ttm 194.62
Net debt Q (370.70)
Valuation
P/E 47.47 (above 35: high)
Forward P/E 39.80 (above 35: high)
Price / sales 7.98
Forward P/S Powerpack
Price / FCF 39.51
Price / book 9.22 (above 6: high)
Financial health
Current ratio Q 3.00 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 2.84
Growth
Revenue growth Q +63.97% (above 0%: growing)
Operating income growth Q +1,022.65% (above 0%: growing)
EPS, this year +175.76% (at or above 15%: strong)
EPS, next year A +112.75% (at or above 15%: strong)
Revenue, next year A +50.51% (at or above 10%: strong)
EPS, past 5 yrs −0.72% (below 0%: weak)
EPS, next 5 yrs A +111.06% (at or above 15%: strong)

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 7.6×, against a ten-year median of 6.4×; over the ten years it ranged from 3.0× in 2020 to 19.6× in 2017.
P/E against its own 10 years 71.61%
10-year low 10-year high
P/S against its own 10 years 59.48%
10-year low 10-year high
P/B against its own 10 years 65.68%
10-year low 10-year high
EV/Sales against its own 10 years 61.97%
10-year low 10-year high
EV/FCF against its own 10 years 69.56%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 368 383 372 371
Receivables 41 54 60 111
Inventory 8 12 13 12
Other 14 — — —
459 472 485 534
2023 2024 2025 Q'26
Payables 17 15 40 22
ST’ Debt — — — —
Other 14 — — —
105 141 166 178

Compound Annual Growth %

10y 5y 3y
Sales 31.23% 16.56% 23.74%
Cash Flow 46.44% (1.35%) 5.68%
Earnings 0.00% (1.52%) (1.04%)
Book Value 42.70% 4.36% 8.88%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 0.68 Actual 1.01

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.27 0.20 Miss by 0.07
Q1 FY26 −0.30 −0.30 Met by 0.00
Q2 FY26 −0.04 0.36 Beat by 0.40
Q3 FY26 0.68 1.01 Beat by 0.33
Q4 FY26 0.98 — Reports 23 February 2027

EPS $

Mar Jun Sep Dec Year
’26 (0.30) 0.36 1.03 — —
’25 0.17 0.29 0.16 0.20 0.82
’24 0.25 0.32 0.41 0.26 1.23
’23 0.14 0.25 0.28 0.28 0.94
’22 0.20 0.24 0.30 0.14 0.87
’21 0.18 0.21 0.24 0.17 0.89
’20 0.25 0.23 0.17 0.20 0.85
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 165 256 340 — —
’25 157 194 208 202 761
’24 147 164 183 182 675
’23 106 118 124 135 482
’22 94 103 102 103 402
’21 79 92 96 99 366
’20 93 89 86 86 354
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (17) 34 143 — —
’25 5 44 54 38 142
’24 24 41 73 60 198
’23 26 42 53 6 127
’22 35 18 34 33 120
’21 25 44 49 49 168
’20 33 53 30 35 152
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (17) 31 142 — —
’25 5 44 54 38 142
’24 24 41 72 60 196
’23 26 42 53 6 127
’22 35 18 33 33 120
’21 25 44 49 49 167
’20 33 53 30 35 151
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 25.4% a year for ten years. It grew 41.9% a year over the last ten.

Implied
25.4%
10 years, reported
41.9%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
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 81 159 251 306 354 366 402 482 675 761 964 +28.2% 1,146 1,676 2,138 +41.1%
Gross margin, % 97.47 97.77 97.92 98.20 98.42 98.56 98.66 98.66 98.39 98.30 98.54 +0.8 pt
EBT 8 53 92 117 132 125 116 125 161 66 131 +26.3%
EBT margin, % 10.01 33.17 36.68 38.07 37.19 34.16 28.91 25.82 23.92 8.73 13.64 (1.3) pt
Net income 8 129 75 94 106 113 101 106 141 100 162 +32.1%
Per share, $
Per share, $ Revenue 0.74 1.40 2.18 2.68 3.07 3.16 3.76 4.66 6.54 7.33 9.04 +29.1%
Earnings 0.07 1.14 0.65 0.82 0.92 0.97 0.95 1.02 1.35 0.95 1.52 +33.6%
Cash flow 0.17 0.54 1.00 1.19 1.32 1.45 1.13 1.22 1.92 1.37 1.86 +26.4%
Capex 0.00 0.00 0.00 (0.01) (0.01) 0.00 0.00 0.00 (0.02) 0.00 (0.03) +1.2%
Free cash flow 0.16 0.53 1.00 1.18 1.31 1.45 1.12 1.22 1.90 1.37 1.83 +26.5%
Book value 0.37 1.68 2.39 3.25 4.53 3.25 4.70 4.89 6.58 6.24 7.82 +36.7%
Shares, m 111 114 115 114 115 116 107 104 103 104 105 (0.7%)
Valuation, ×
Valuation, × P/E 105.44 16.05 20.55 14.58 28.43 22.76 21.23 23.46 37.33 37.02 47.47 32.7
P/S 10.01 12.94 6.13 4.51 8.53 6.26 5.36 5.19 7.71 4.75 7.98 7.1
P/B 19.67 10.78 5.59 3.73 5.77 6.09 4.29 4.94 7.65 5.58 9.22 7.4
EV/Sales 9.60 12.47 5.37 3.65 7.32 5.68 4.31 4.45 7.16 4.28 7.61 6.4
EV/FCF 42.90 32.79 11.69 8.29 17.18 12.41 14.45 16.95 24.65 22.97 37.68 20.4
Cash, $m
Cash, $m Operating cash flow 18 61 116 136 152 168 120 127 198 142 198 +25.5%
Capex 0 0 0 (1) (1) 0 0 0 (2) 0 (3) +0.9%
Free cash flow 18 61 115 135 151 167 120 127 196 142 195 +25.6%
Balance, $m
Balance, $m Working capital 38 95 201 269 431 219 427 354 331 319 356 +26.6%
Net debt (37) (89) (207) (274) (440) (224) (432) (368) (377) (367) (371) +29.1%
Shareholders’ equity 41 191 276 371 523 376 502 507 680 648 834 +35.8%
Returns, %
Returns, % ROA 13.49 89.27 28.34 26.02 21.55 22.60 20.11 17.51 19.11 11.71 17.16 (1.8) pt
ROIC 141.16 32.32 80.92 71.82 96.37 51.09 100.32 48.42 28.31 9.98 14.97 (131.2) pt
ROE 27.19 111.15 32.31 29.11 23.70 25.03 23.08 20.92 23.56 14.79 21.74 (12.4) pt
People
People Employees 103 136 166 206 236 238 299 352 500 730 — +24.3%
Revenue/emp, $m 0.79 1.17 1.51 1.49 1.50 1.54 1.34 1.37 1.35 1.04 — +3.1%
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

Corcept Therapeutics discovers, develops and sells medicines that alter the effects of cortisol, a hormone involved in metabolism, the immune system and the body’s response to stress. It focuses on serious endocrine, cancer, metabolic and neurological disorders. The company was founded in 1998 and is headquartered in Menlo Park. Joseph K. Belanoff is chief executive officer.

Corcept sells Korlym and its authorized generic in the United States for patients with hypercortisolism, also known as Cushing’s syndrome. People with this condition have excessive cortisol activity, which can contribute to problems including high blood pressure, diabetes, fatigue and changes in body composition. Korlym works by competing with cortisol for binding to a receptor through which the hormone acts.

Corcept Therapeutics Incorporated vs peers in Biotechnology (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
MDGL Madrigal Pharmaceuticals, Inc. $9.3B — (loss-making) — (loss-making) +50.13% (above 0%: growing) n/m +53.47% (above 0%: growing) 91.23% 12.98% Compare
SYRE Spyre Therapeutics, Inc. $9.2B — (loss-making) — (loss-making) −100.00% (below 0%: shrinking) n/m −108.79% (below 0%: shrinking) 0.00% 0.00% Compare
KRYS Krystal Biotech, Inc. $8.9B 39.2× 45.7× +30.21% (above 0%: growing) −22.26% (below 0%: shrinking) +137.79% (above 0%: growing) 94.07% 55.87% Compare
PTGX Protagonist Therapeutics, Inc. $8.8B 111× 31.2× +3,749.17% (above 0%: growing) n/m +839.65% (above 0%: growing) 100.00% 74.37% Compare
ARWR Arrowhead Pharmaceuticals, Inc. $8.1B — (loss-making) — (loss-making) +171.02% (above 0%: growing) n/m −15.43% (below 0%: shrinking) 100.00% (226.03%) Compare
CORT Corcept Therapeutics Incorporated $7.8B 47.5× 39.8× +63.97% (above 0%: growing) +525.79% (above 0%: growing) +160.98% (above 0%: growing) 98.65% 33.70%
CYTK Cytokinetics, Incorporated $7.7B — (loss-making) — (loss-making) +2,356.46% (above 0%: growing) n/m −6.73% (below 0%: shrinking) 0.00% (351.34%) Compare
ABVX Abivax SA Sponsored ADR $7.4B — (loss-making) — — n/m −48.28% (below 0%: shrinking) 0.00% 0.00% Compare
PRAX Praxis Precision Medicines, Inc. $7.3B — (loss-making) — (loss-making) +1,349.13% (above 0%: growing) n/m −43.54% (below 0%: shrinking) 100.00% 0.00% Compare
Median of peers $8.4B — — +171.02% — −11.08% 92.65% 0.00%

All 621 Biotechnology stocks →

From the latest earnings call

Updated

  • CEO Joseph Belanoff said growing recognition of hypercortisolism was supporting Corcept’s Cushing’s syndrome business, while adoption of Lifyorli for platinum-resistant ovarian cancer had been rapid and broad.
  • Belanoff said Corcept was awaiting the FDA’s decision on relacorilant for Cushing’s syndrome and expected results from several oncology studies by the end of next year.

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 75.80%
Held by the ten largest 49.15%
Holder Shares Stake Change
BlackRock 12.43m 11.50% +280.75k
Vanguard 10.00m 9.25% +353.30k
INGALLS & SNYDER LLC 7.93m 7.34% +325.79k
RENAISSANCE TECHNOLOGIES LLC 5.26m 4.87% −421.15k
Parallel Advisors, LLC 3.96m 3.67% −15.23k
Fidelity (FMR) 3.34m 3.09% +147.43k
State Street 3.28m 3.03% +78.44k
AQR Capital Management 2.57m 2.38% +2.16m
Geode Capital Management 2.53m 2.34% −181.32k
First Trust 1.83m 1.69% −343.83k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 17 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 15.30m 14.76m 133.00
2024 9.89m 22.85m 193.00
2023 9.34m 15.76m 124.00
2022 7.35m 9.57m 78.00
2021 10.98m 4.25m 76.00

Ownership

Directors and executive officers, together 20.70%
BlackRock, Inc. 10.70%
Vanguard Group Inc. 8.90%
Ingalls & Snyder, LLC and affiliated entities 7.60%
Joseph K. Belanoff, M.D. 6.10%
Renaissance Technologies 5.40%
G. Leonard Baker, Jr. 5.30%
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. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

Corcept Therapeutics Incorporated (CORT) Latest News

4 Nov

Impact 4 · · Moby transcript
Impact 4 · · GuruFocus.com
Impact 4 · · The Motley Fool transcript
Impact 4 · · Zacks

3 Nov

Impact 4 · · Business Wire
Impact 3 · · MarketBeat transcript
Impact 3 · · Investing.com
Impact 3 · · Zacks
Impact 3 · · StockStory
Impact 3 · · Associated Press

27 Oct

Impact 3 · · Business Wire

26 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Business Wire
Impact 4 · · Trefis

23 Oct

Impact 4 · · Investing.com

20 Oct

Impact 4 · · Business Wire

19 Oct

Impact 4 · · Zacks
Impact 4 · · Zacks

14 Oct

Impact 3 · · Simply Wall St.
Impact 3 · · Simply Wall St.

13 Oct

Impact 3 · · Zacks

29 Sep

Impact 4 · · Zacks

25 Sep

Impact 3 · · Insider Monkey

23 Sep

Impact 3 · · Business Wire

22 Sep

Impact 4 · · Simply Wall St.
Impact 4 · · Insider Monkey

21 Sep

Impact 4 · · Zacks

18 Sep

Impact 4 ·

2 Sep

Impact 4 ·

20 Aug

Impact 3 ·

CORT metrics, ten years each

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