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Halozyme Therapeutics, Inc.

HALO Healthcare Biotechnology

Halozyme Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 37.6% from fiscal 2024. In the quarter to June 2026, revenue grew 47.7%, EPS grew 44.1%, free cash flow grew 141.2% and total debt rose 42.2%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for three.

121.84 0.33 +0.27%
Market cap
$13.8B
P/E
34.6×
Fwd P/E
10.6×
Dividend yield
—
F-score
5/9
Altman Z
3.46
Beneish M
−2.59
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total sells 48.10
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell 2 2 1 1 2 2 2 3 2 2 2 2
Insider Ownership 4.27%

Capital & Financial Ratios $m

Market Cap 13,790.00
Revenue 1,663.74
Net Income 413.60
Free Cash Flow 806.22
Net Debt 1,915.65
Current Ratio 2.71 (at or above 1.5: strong)
Debt/Equity 14.95 (above 2: weak)
P/E ratio 34.61
Fwd P/E 10.60
P/S ratio 8.59
P/B ratio 99.54 (above 6: high)
Past 5Y EPS Growth 22.98% (at or above 15%: strong)
This Y EPS Growth 107.59% (at or above 15%: strong)
Next Y EPS Growth 20.81% (at or above 15%: strong)
Next Y revenue growth 33.90% (at or above 10%: strong)
Next 5Y EPS Growth 42.80% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 9.7×, against a ten-year median of 9.7×; over the ten years it ranged from 6.2× in 2026 to 27.0× in 2020.
P/E against its own 10 years 76.37%
10-year low 10-year high
P/S against its own 10 years 44.64%
10-year low 10-year high
P/B against its own 10 years 94.69%
10-year low 10-year high
EV/Sales against its own 10 years 49.80%
10-year low 10-year high
EV/FCF against its own 10 years 61.88%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2023 Powerpack
2022 Powerpack
2021 Powerpack
2020 Powerpack
2019 Powerpack
2017 Powerpack
special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 336 596 143 231
Receivables 234 308 441 456
Inventory 128 142 176 137
Other — — — —
746 1,085 825 933
2023 2024 2025 Q'26
Payables 12 10 21 24
ST’ Debt — — — 209
Other — — — —
112 139 177 344

Compound Annual Growth %

10y 5y 3y
Sales 26.32% 39.16% 28.38%
Cash Flow 0.00% 63.68% 39.48%
Earnings 0.00% 19.68% 16.17%
Book Value 1.28% (20.22%) (34.00%)

Revenue $m

Mar Jun Sep Dec Year
’26 377 481 — — —
’25 265 326 354 452 1,397
’24 196 231 290 298 1,015
’23 162 221 216 230 829
’22 117 152 209 181 660
’21 89 136 116 102 443
’20 25 55 65 122 268
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 180 241 — — —
’25 154 100 179 219 652
’24 129 56 115 178 479
’23 87 67 132 102 389
’22 48 40 70 82 240
’21 58 37 122 83 299
’20 (5) 3 6 51 55
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 176 237 — — —
’25 153 98 624 (231) 645
’24 126 53 425 (136) 468
’23 76 68 325 (96) 373
’22 47 55 69 90 261
’21 58 36 121 82 298
’20 (4) 3 6 49 54
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 1.22 1.90 — — —
’25 0.93 1.33 1.43 (1.20) 2.56
’24 0.60 0.72 1.05 1.06 3.43
’23 0.29 0.56 0.61 0.65 2.10
’22 0.43 0.16 0.44 0.42 1.44
’21 0.19 0.62 1.48 0.46 2.74
’20 (0.04) 0.19 0.25 0.50 0.91
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.7
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low 6.96 9.68 13.24 13.84 12.71 31.79 31.36 29.85 33.15 47.50

Analyst estimates 2026–2028

Powerpack
High 17.51 21.13 21.48 19.73 44.53 56.40 59.46 57.00 65.53 79.50
People
People Employees 259 255 281 132 136 145 393 373 350 423
Revenue/emp, $m 0.57 1.24 0.54 1.48 1.97 3.06 1.68 2.22 2.90 3.30
Income, $m
Income, $m Revenue 147 317 152 196 268 443 660 829 1,015 1,397
Gross margin, % 77.36 90.16 93.33 76.76 83.79 81.64 78.90 76.80 84.30 83.62
EBT (102) 62 (80) (72) 129 249 249 348 557 467
EBT margin, % (69.44) 19.46 (52.54) (36.86) 48.32 56.06 37.71 42.01 54.87 33.43
Net income (103) 63 (80) (72) 129 403 202 282 444 317
Depreciation 16 4 1 4 18 9 59 86 78 92
Per share, $
Per share, $ Revenue 1.15 2.32 1.06 1.36 1.96 3.15 4.82 6.29 8.01 11.65
Earnings (0.81) 0.46 (0.56) (0.50) 0.95 2.86 1.48 2.13 3.50 2.64
Cash flow (0.39) 0.98 (0.34) (0.59) 0.41 2.13 1.75 2.95 3.78 5.44
Capex (0.02) (0.01) (0.03) (0.03) (0.01) (0.01) 0.15 (0.12) (0.08) (0.06)
Free cash flow (0.42) 0.97 (0.38) (0.62) 0.40 2.12 1.91 2.83 3.69 5.38
Book value (0.25) 1.53 1.73 0.64 1.11 1.40 1.24 0.64 2.87 0.41
Shares, m 128 136 144 144 136 141 137 132 127 120
Valuation, ×
Valuation, × P/E 0.00 50.50 0.00 0.00 44.49 14.11 37.25 17.47 13.66 25.79
P/S 8.71 8.70 13.83 13.06 21.74 12.76 11.43 5.95 5.97 5.77
P/B 0.00 13.23 8.44 27.89 38.51 28.71 44.43 58.86 16.67 165.22
EV/Sales 8.79 7.86 12.33 12.96 23.32 13.06 13.16 7.39 6.90 7.72
EV/FCF (24.10) 18.75 (34.58) (28.39) 115.50 19.43 33.25 16.42 14.96 16.72
Cash, $m
Cash, $m Operating cash flow (50) 134 (49) (85) 55 299 240 389 479 652
Capex (3) (1) (5) (4) (1) (1) 21 (15) (11) (7)
Free cash flow (54) 133 (54) (89) 54 298 261 373 468 645
Balance, $m
Balance, $m Working capital 202 379 278 458 133 809 608 634 946 648
Total debt 217 202 126 403 397 877 1,506 1,499 1,506 2,143
Net debt 12 (267) (228) (19) 29 136 1,143 1,163 910 2,000
Shareholders’ equity (32) 208 249 92 151 197 170 84 364 49
Returns, %
Returns, % ROA (46.48) 16.12 (16.73) (14.36) 22.53 47.82 13.72 15.75 23.39 13.81
ROIC 0.00 0.00 (208.92) (57.81) 50.02 51.83 12.73 16.92 27.06 14.31
ROE (1,958.98) 71.60 (35.14) (42.41) 106.33 231.44 110.23 222.07 198.42 153.59
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Halozyme Therapeutics, Inc. 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
EXEL Exelixis, Inc. $15.6B 18.8× 16.7× +10.63% (above 0%: growing) +25.00% (above 0%: growing) +557.25% (above 0%: growing) 96.71% 39.51% Compare
ASND Ascendis Pharma A/S $14.9B 16.3× 13.0× +119.88% (above 0%: growing) n/m +2,335.93% (above 0%: growing) 91.85% 64.98% Compare
JAZZ Jazz Pharmaceuticals PLC $13.9B 13.8× 17.3× +15.55% (above 0%: growing) n/m +140.99% (above 0%: growing) 90.37% 20.54% Compare
HALO Halozyme Therapeutics, Inc. $13.8B 34.6× 10.6× +47.67% (above 0%: growing) +44.12% (above 0%: growing) +141.18% (above 0%: growing) 83.54% 59.80%
BBIO BridgeBio Pharma, Inc. $13.1B — (loss-making) — (loss-making) +120.39% (above 0%: growing) n/m +16.59% (above 0%: growing) 93.83% (43.94%) Compare
CORT Corcept Therapeutics Incorporated $12.3B 212× 139× +31.74% (above 0%: growing) +21.21% (above 0%: growing) −29.89% (below 0%: shrinking) 98.41% 16.12% Compare
SMMT Summit Therapeutics PLC $12.3B — (loss-making) — (loss-making) −100.00% (below 0%: shrinking) n/m −112.80% (below 0%: shrinking) 0.00% 0.00% Compare
TECH Bio-Techne Corp $11.4B 62.0× 37.6× +1.33% (above 0%: growing) n/m −6.83% (below 0%: shrinking) 65.82% 23.13% Compare
BMRN BioMarin Pharmaceutical Inc. $10.9B 144× 16.1× +19.91% (above 0%: growing) −81.60% (below 0%: shrinking) −20.28% (below 0%: shrinking) 79.51% 11.21% Compare
Median of peers $12.7B 40.4× 17.0× +17.73% +21.21% +4.88% 91.11% 18.33%

All 614 Biotechnology stocks →

Halozyme Therapeutics, Inc. (HALO) key facts

  • Strength: Halozyme Therapeutics, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.4 billion, up 37.6% from fiscal 2024.
  • Halozyme Therapeutics, Inc. (HALO) is a Biotechnology company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, HALO traded at $121.84, a market capitalization of $13.8 billion.
  • Return on equity was 153.6% and debt-to-equity 14.95.
  • Its Piotroski F-score is 5 out of 9 and its Altman Z-score is 3.46 (safe zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Halozyme Therapeutics, Inc. (HALO) Latest News

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stockrow.com/HALO · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com