Supernus Pharmaceuticals, Inc.
SUPN Healthcare Drug Manufacturers Specialty & Generic
Supernus Pharmaceuticals, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $719.0 million, up 8.63% from fiscal 2024. In the quarter to June 2026, revenue grew 32.4%, EPS fell 352.5% and free cash flow fell 109.3%, each against the same quarter a year earlier.
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Supernus Pharmaceuticals, Inc. (SUPN) Altman Z-score
Supernus Pharmaceuticals, Inc.'s Altman Z-score for fiscal 2025 is 5.41, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 5.41 | 0.22 |
| FY2024 | 5.19 | 1.35 |
| FY2023 | 3.84 | 1.52 |
| FY2022 | 2.32 | 0.22 |
| FY2021 | 2.09 | (0.29) |
| FY2020 | 2.38 | (0.26) |
| FY2019 | 2.65 | (0.77) |
| FY2018 | 3.41 | (6.01) |
| FY2017 | 9.43 | 1.90 |
| FY2016 | 7.53 | 3.57 |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.21 | — | 0.25 | |
| Retained earnings / total assets | 0.36 | — | 0.50 | |
| EBIT / total assets | (0.04) | — | −0.14 | |
| Market value of equity / total liabilities | 7.18 | — | 4.31 | |
| Sales / total assets | 0.49 | — | 0.49 | |
| Altman Z-score | Safe zone | 5.41 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Safe zone | 5.11 | ||
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| SUPN Supernus Pharmaceuticals, Inc. | 5.4× |
| LQDA Liquidia Corporation compare | 4.1× |
| HCM HUTCHMED (China) Limited Sponsored ADR compare | 3.5× |
| PBH Prestige Consumer Healthcare Inc. compare | 2.5× |
| ANIP ANI Pharmaceuticals, Inc. compare | 2.3× |
| BCRX BioCryst Pharmaceuticals, Inc. compare | 1.8× |
| XERS Xeris Biopharma Holdings, Inc. compare | 1.0× |
| PRGO Perrigo Company plc compare | −0.1× |
| ALVO Alvotech compare | −1.0× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets