Harmony Biosciences Holdings, Inc.

HRMY Healthcare Biotechnology

Harmony Biosciences Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $868.5 million, up 21.5% from fiscal 2024. In the quarter to June 2026, revenue grew 30.3%, EPS grew 88.4%, free cash flow grew 16.5% and total debt fell 10.5%, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.

38.20 0.07 −0.18%
Market cap
$2.2B
P/E
12.2×
Fwd P/E
9.4×
Dividend yield
—
F-score
5/9
Altman Z
5.23
Beneish M
−2.99
Dividend safety
n/a
Dec '17 Dec '18 Dec '19 Dec '20 Dec '21 Dec '22 Dec '23 Dec '24 Dec '25
Piotroski F-Score
— — — — 7 5 4 7 5
P/E ratio
— — 0.00 0.00 71.07 17.31 14.25 13.44 13.61
Altman Z-Score
— — — 0.96 6.51 8.46 5.02 5.29 5.23
P/S ratio
— — 0.00 5.83 8.03 7.16 3.15 2.74 2.48
P/FCF ratio
— — 0.00 0.00 0.00 30.05 10.23 10.96 6.99
Altman Z″-Score (non-manufacturers)
— — (21.50) (1.18) 2.23 4.57 4.76 5.98 7.17
Beneish M-Score
— — — 19.29 (2.43) (1.55) (2.64) (2.64) (2.99)
P/Operating CF
— — 59.79 92.73 65.36 117.47 23.88 25.91 17.05
P/B ratio
— — 0.00 9.59 13.15 7.78 3.92 2.97 2.47
Price to Tangible BV
— — 0.00 0.00 57.60 12.96 5.55 3.59 2.76
EV/Sales
— — 0.00 5.62 7.89 6.86 2.87 2.34 1.77
EV/EBITDA
— — 0.00 30.28 22.20 20.73 7.74 7.82 6.61
EV/Operating CF
— — (8.62) (300.60) 24.46 20.78 7.62 7.59 4.42
EV/FCF
— — (8.62) (296.82) (1,384.74) 28.79 9.33 9.34 5.00
Quick Ratio
— 11.55 1.44 1.86 5.01 4.79 2.61 3.14 3.46
Current Ratio
— 11.99 1.58 1.95 5.29 5.07 2.75 3.31 3.60
Net Debt/EBITDA
— (5.83) (0.52) (1.16) (0.39) (0.91) (0.74) (1.35) (2.63)
Debt/Assets
0.00% 363.12% 91.79% 45.48% 44.29% 28.44% 23.85% 17.94% 12.87%
Debt/Equity
— (1.34) (8.45) 2.00 1.03 0.48 0.41 0.27 0.19
Asset Turnover
— 0.00 0.06 0.60 0.71 0.79 0.78 0.79 0.76
Operating CF/Net income
— 0.55 0.40 0.05 2.85 0.80 1.70 1.51 2.19
Capex/Depreciation
— 0.00 (33.44) (0.16) (4.76) (1.63) (0.01) (0.05) (0.01)
Interest Coverage
— (53.78) (24.02) 0.60 3.62 6.39 8.08 10.91 14.23
ROE
— 21.06% 56.26% 39.21% 24.39% 61.58% 29.63% 25.84% 20.75%
ROA
— (156.99%) (191.04%) (23.92%) 8.04% 32.78% 17.35% 16.07% 13.98%
ROIC
— 0.00% (147.31%) 16.91% 37.94% 27.68% 39.08% 32.13% 50.40%
Return on Tangible Assets
— (86.49%) (1,447.30%) (49.38%) 14.95% 56.36% 44.79% 35.89% 24.23%
Average Days of Receivables
— — 259.06 50.67 41.64 45.63 46.50 42.40 40.68
Research and Development Expense of Revenue
— 0.00% 1,160.88% 12.17% 9.94% 16.19% 13.07% 20.40% 21.83%
Selling, General and Administrative Expense of Revenue
— 0.00% 1,346.57% 59.83% 43.23% 37.30% 33.11% 30.96% 31.33%
Intangible Assets out of Total Assets
0.00 0.00 0.68 0.38 0.33 0.24 0.17 0.11 0.07
Share Based Compensation of Revenue
— — 165.29% 2.94% 5.13% 5.98% 5.45% 5.96% 5.17%
Graham Net Nets
— — 0.34 (0.07) 0.02 0.04 0.06 0.12 0.24
Graham Number
— — 0.00 0.00 6.62 21.65 19.54 25.83 30.60
Earnings Yield
— — (25.70%) (14.11%) 1.41% 5.78% 7.02% 7.44% 7.35%
Free Cash Flow Yield
— — (33.68%) (0.32%) (0.07%) 3.33% 9.78% 9.13% 14.31%
Revenue per Share
— 0.00 0.77 6.20 5.31 7.40 9.79 12.56 15.11
Operating CF per Share
— (0.61) (9.70) (0.12) 1.71 2.44 3.69 3.86 6.06
Capex per Share
— 0.00 (16.35) (0.08) (1.74) (0.68) (0.01) (0.02) (0.01)
Free Cash Flow per Share
— (0.61) (26.05) (0.19) (0.03) 1.76 3.68 3.84 6.05
Cash per Share
— 1.31 3.14 8.87 4.07 5.46 5.94 8.21 13.49
Shareholders Equity per Share
— (3.81) (1.49) 3.77 3.24 6.81 7.85 11.59 15.14
Interest Debt per Share
— 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Book value per Share
— (3.81) (1.49) 3.77 3.24 6.81 7.85 11.59 15.14
Free Cash Flow
— (38.80) (202.58) (4.99) (1.74) 104.29 219.08 218.67 347.89
Working Capital
— 79.45 11.61 128.35 230.66 321.40 287.29 404.17 654.88
Capital Expenditures
— (1.34) (127.15) (2.00) (100.30) (40.17) (0.31) (1.15) (0.31)
Net Current Asset Value
— (245.27) (86.79) (67.00) 37.50 129.25 106.61 239.21 505.60
EV/EBIT
— — 0.00 52.82 27.54 24.98 8.70 8.75 7.39
Capex to Sales
— — 21.21 0.01 0.33 0.09 0.00 0.00 0.00
Price to Operating Income
— — 0.00 54.85 28.03 26.07 9.54 10.26 10.32
Other line items
Depreciation/Fixed assets
— 0.12 2.86 13.49 25.70 42.96 64.47 17.94 0.00
Cash ROIC
— (23.51%) (182.81%) (0.96%) (0.28%) 11.37% 21.60% 16.75% 19.23%
Accounts Receivable Turnover
— — 0.45 12.09 10.71 9.78 9.03 9.09 9.66
Accounts Payable Turnover
— 0.05 0.40 6.22 31.22 34.88 11.27 9.96 12.62
Inventory Turnover
— 0.00 0.64 11.30 13.45 19.13 25.10 24.97 31.60
Average Days of Payables
— 2,900.16 1,472.04 33.63 6.58 16.55 53.38 31.99 32.56
Days of Inventory on Hand
— 0.00 251.82 50.31 29.14 18.79 16.15 16.75 9.86
Average Receivables
— — 13.22 13.22 28.51 44.79 64.44 78.59 89.91
Average Payables
— 3.91 3.91 4.46 1.78 2.39 10.76 15.74 15.72
Average Inventory
— — 2.46 2.46 4.13 4.36 4.83 6.28 6.28
Average Assets
— 44.64 97.99 266.89 430.26 553.66 742.66 905.32 1,135.42
Average Common Equity
— (332.77) (332.77) (162.84) 141.84 294.67 434.92 563.07 764.69

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