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Monday 9 November 2026
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Rockwell Medical, Inc.
RMTIHealthcare Drug Manufacturers Specialty & Generic
Rockwell Medical, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $69.3 million, down 31.8% from fiscal 2024.
- Revenue
- +10.6%
- EPS
- +32.0%
- Free cash flow
- −12.9%
- Total debt
- −1.73%
Quarter to June 2026, against a year earlier
7.73
0.13
+1.71%
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Target Price Range
Analyst price targets
Free accountTen 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 Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | 53 | 57 | 63 | 61 | 62 | 62 | 73 | 84 | 101 | 69 | 69 | +3.0% | 72 | 78 | — | +6.2% | |
| Gross margin, % | 12.67 | 6.46 | (2.50) | 4.63 | 4.38 | (3.91) | 5.60 | 10.41 | 17.23 | 16.89 | 17.71 | +4.2 pt | ||||||
| EBT | (19) | (26) | (32) | (34) | (31) | (33) | (19) | (8) | 0 | (5) | (5) | (13.4%) | ||||||
| EBT margin, % | (36.41) | (45.24) | (50.68) | (55.67) | (49.66) | (52.76) | (25.65) | (10.09) | (0.47) | (7.67) | (7.33) | +28.7 pt | ||||||
| Net income | (20) | (26) | (32) | (34) | (31) | (33) | (19) | (8) | 0 | (5) | (5) | (13.6%) | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | 115.68 | 123.44 | 132.00 | 110.70 | 90.48 | 72.64 | 50.90 | 35.85 | 32.68 | 19.25 | 17.53 | (18.1%) | |||||
| Earnings | (42.90) | (56.11) | (67.11) | (61.61) | (45.10) | (38.33) | (13.06) | (3.68) | (0.15) | (1.50) | (1.34) | (31.1%) | ||||||
| Cash flow | (27.04) | (45.48) | (42.52) | (49.21) | (43.12) | (39.33) | (11.83) | (4.04) | 1.35 | (0.18) | 0.73 | (42.6%) | ||||||
| Capex | (0.77) | (3.62) | (1.55) | (1.06) | (1.52) | (0.61) | (0.20) | (0.12) | (0.33) | (0.15) | (0.30) | (16.6%) | ||||||
| Free cash flow | (27.80) | (49.11) | (44.07) | (50.27) | (44.64) | (39.94) | (12.03) | (4.16) | 1.03 | (0.33) | 0.43 | (38.8%) | ||||||
| Book value | 114.97 | 70.90 | 56.80 | 36.69 | 49.71 | 2.97 | 9.86 | 9.13 | 10.49 | 10.28 | 8.86 | (23.5%) | ||||||
| Shares, m | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 3 | 4 | 4 | +25.7% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | 6.12 | 5.03 | 1.88 | 2.42 | 1.23 | 0.62 | 0.20 | 0.64 | 0.62 | 0.43 | 0.44 | 1.9 | ||||||
| P/B | 6.16 | 8.75 | 4.38 | 7.32 | 2.24 | 15.17 | 1.04 | 2.53 | 1.94 | 0.81 | 0.87 | 5.0 | ||||||
| EV/Sales | 5.26 | 4.66 | 1.54 | 2.07 | 0.64 | 0.59 | 0.06 | 0.70 | 0.56 | 0.29 | 0.21 | 1.6 | ||||||
| EV/FCF | (18.09) | (10.47) | (4.10) | (4.15) | (1.19) | (1.00) | (0.23) | (4.71) | 114.52 | (5.07) | (15.21) | 6.6 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | (12) | (21) | (20) | (27) | (30) | (34) | (17) | (9) | 4 | (1) | 3 | (27.9%) | |||||
| Capex | 0 | (2) | (1) | (1) | (1) | (1) | 0 | 0 | (1) | (1) | (1) | +4.8% | ||||||
| Free cash flow | (13) | (23) | (21) | (28) | (31) | (34) | (17) | (10) | 3 | (1) | 2 | (23.1%) | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | 68 | 40 | 34 | 25 | 57 | 14 | 18 | 12 | 23 | 29 | 25 | (9.2%) | |||||
| Net debt | (58) | (33) | (34) | (22) | (37) | (2) | (10) | (1) | (12) | (16) | (16) | (13.4%) | ||||||
| Shareholders’ equity | 53 | 33 | 27 | 20 | 34 | 3 | 14 | 21 | 33 | 37 | 35 | (3.9%) | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | (23.16) | (36.53) | (57.71) | (70.46) | (50.61) | (51.73) | (39.24) | (17.08) | (0.86) | (9.13) | (9.32) | +14.0 pt | |||||
| ROIC | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | (2,796.46) | (268.77) | (20.64) | 1.86 | (13.89) | (14.58) | (13.9) pt | ||||||
| ROE | (34.36) | (60.37) | (106.75) | (143.40) | (113.38) | (178.04) | (224.49) | (47.68) | (1.78) | (15.28) | (15.53) | +19.1 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | 300 | 300 | 269 | 299 | 300 | 300 | 253 | 237 | 244 | 157 | — | (6.9%) | |||||
| Revenue/emp, $m | 0.18 | 0.19 | 0.24 | 0.21 | 0.21 | 0.21 | 0.29 | 0.35 | 0.42 | 0.44 | — | +10.6% | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
Rockwell Medical, Inc. 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 |
|---|---|---|---|---|---|---|---|---|---|
| CTOR Citius Oncology, Inc. | $47.4M | — (loss-making) | — | — | n/m | 0.00% | 67.07% | (583.53%) | Compare |
| ZYBT Zhengye Biotechnology Holding Limited | $44.6M | — | — | — | — | −69.31% (below 0%: shrinking) | — | — | Compare |
| INCR InterCure Ltd. | $41.1M | 6.6× | — (loss-making) | −6.53% (below 0%: shrinking) | n/m | +389.50% (above 0%: growing) | 32.04% | 0.00% | Compare |
| SCYX SCYNEXIS, Inc. | $34.8M | — (loss-making) | — (loss-making) | −8.56% (below 0%: shrinking) | n/m | −98.60% (below 0%: shrinking) | 100.00% | (3,308.51%) | Compare |
| RMTI Rockwell Medical, Inc. | $31.2M | — (loss-making) | — (loss-making) | +10.63% (above 0%: growing) | n/m | −12.92% (below 0%: shrinking) | 18.24% | (5.97%) | |
| IXHL Incannex Healthcare Inc. | $28.1M | — (loss-making) | — (loss-making) | −92.31% (below 0%: shrinking) | n/m | +327.73% (above 0%: growing) | 100.00% | 0.00% | Compare |
| SHPH Shuttle Pharmaceuticals Holdings, Inc. | $26.6M | — (loss-making) | — | — | n/m | +82.01% (above 0%: growing) | 0.00% | 0.00% | Compare |
| CPHI China Pharma Holdings, Inc. | $24.5M | — (loss-making) | — (loss-making) | −7.56% (below 0%: shrinking) | n/m | −113.57% (below 0%: shrinking) | 8.82% | (150.99%) | Compare |
| TXMD TherapeuticsMD, Inc. | $20.1M | — (loss-making) | 18.9× | −8.72% (below 0%: shrinking) | −80.00% (below 0%: shrinking) | +104.46% (above 0%: growing) | 100.00% | (93.90%) | Compare |
| Median of peers | $31.5M | — | — | −8.56% | — | +41.01% | 67.07% | (93.90%) |
Pay and ownership Proxy statement filed 30 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 1.90m | 1.06m | 82.12 |
| 2024 | 1.31m | 1.44m | 201.98 |
| 2023 | 1.05m | 1.76m | 187.13 |
Ownership
Directors and executive officers, together
4.60%
Irrevocable Larson Family Investment Trust(d)
9.00%
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