Royalty Pharma PLC
RPRX Healthcare Biotechnology
Royalty Pharma PLC’s revenue for fiscal 2025 (year ended December 2025) was $2.4 billion, up 5.06% from fiscal 2024. In the quarter to June 2026, revenue grew 16.5%, EPS fell 40.0%, free cash flow grew 31.6% and total debt rose 12.0%, each against the same quarter a year earlier. Dividend growth for five consecutive years.
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Royalty Pharma PLC (RPRX) Piotroski F-score
Royalty Pharma PLC's Piotroski F-score for fiscal 2025 is 5 out of 9: 5 of nine tests of profitability, leverage and efficiency passed, up from 3 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 5 | 2.00 |
| FY2024 | 3 | (3.00) |
| FY2023 | 6 | 2.00 |
| FY2022 | 4 | 0.00 |
| FY2021 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | 4.07% | 4.96% | Pass | 1 |
| Positive operating cash flow | 2.49b | 2.77b | Pass | 1 |
| Rising return on assets | 4.07% | 4.96% | Fail | 0 |
| Cash flow above net income | 1.72b | 1.91b | Pass | 1 |
| Falling long-term leverage | 0.45 | 0.38 | Fail | 0 |
| Rising current ratio | 2.40 | 1.44 | Pass | 1 |
| No new shares issued | 429,801,000 | 448,185,000 | Pass | 1 |
| Rising gross margin | 100.00% | 100.00% | Fail | 0 |
| Rising asset turnover | 0.13 | 0.13 | Fail | 0 |
| Piotroski F-score | Mixed | 5 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| INCY Incyte Corporation compare | 9 |
| ONC BeOne Medicines Ltd. - Sponsored ADR compare | 7 |
| ALNY Alnylam Pharmaceuticals, Inc. compare | 6 |
| ARGX argenex SE compare | 5 |
| RPRX Royalty Pharma PLC | 5 |
| GMAB Genmab A/S Sponsored ADR compare | 4 |
| RVMD Revolution Medicines, Inc. compare | 4 |
| BNTX BioNTech SE Sponsored ADR compare | 4 |
| ROIV Roivant Sciences Ltd. compare | 2 |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover