Jazz Pharmaceuticals
JAZZ · NasdaqPharmaceutical Preparations · Fiscal year ends Dec 31
Jazz Pharmaceuticals reported revenue of $4.3B in the fiscal year ended Dec 2025, up 4.9% from the year before. Operating income was −$430M, an operating margin of −10.1%, and net income was −$356M. Operating cash flow of $1.4B less capital expenditure of $59M left free cash flow of $1.3B. Net debt was $4B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $3.1B | $3.7B | $3.8B | $4.1B | $4.3B |
| Selling, general & admin | $1.5B | $1.4B | $1.3B | $1.4B | $1.8B |
| Operating income | $170M | −$66M | $579M | $717M | −$430M |
| Interest expense | $90M | $33M | $33M | – | – |
| Pre-tax income | −$113M | −$373M | $298M | $470M | −$628M |
| Income tax | $216M | −$159M | −$120M | −$91M | −$272M |
| Net income | −$330M | −$224M | $415M | $560M | −$356M |
| Diluted EPS | −5.52 | −3.58 | 6.10 | 8.65 | −5.84 |
| Diluted shares | 60M | 63M | 72M | 66M | 61M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $591M | $881M | $1.5B | $2.4B | $1.4B |
| Receivables | $563M | $651M | $706M | $717M | $831M |
| Inventory | $1.1B | $714M | $597M | $480M | $417M |
| Current assets | $2.6B | $2.6B | $3.4B | $4.6B | $4.2B |
| Goodwill | $1.8B | $1.7B | $1.8B | $1.7B | $1.8B |
| Total assets | $12.3B | $10.8B | $11.4B | $12B | $11.7B |
| Payables | $100M | $91M | $103M | $78M | $122M |
| Deferred revenue | $2M | $463,000 | $0 | – | – |
| Current liabilities | $809M | $933M | $1.5B | $1B | $2.2B |
| Short-term debt | $31M | $31M | $605M | $31M | $1B |
| Long-term debt | $6B | $5.7B | $5.1B | $6.1B | $4.3B |
| Shareholders' equity | $4B | $3.1B | $3.7B | $4.1B | $4.3B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $779M | $1.3B | $1.1B | $1.4B | $1.4B |
| Capital expenditure | $28M | $29M | $24M | $38M | $59M |
| Free cash flow | $751M | $1.2B | $1.1B | $1.4B | $1.3B |
| Depreciation & amortisation | $27M | $30M | $30M | $33M | $42M |
| Stock-based compensation | $189M | $222M | $227M | $248M | $291M |
| Acquisitions | $6.2B | $0 | $0 | – | – |
| Share buybacks | $0 | $54,000 | $270M | $311M | $125M |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 18.3% | 4.8% | 6.1% | 4.9% |
| Operating income growth (YoY) | – | −138.5% | – | 23.9% | −160.0% |
| EPS growth (YoY) | – | – | – | 41.8% | −167.5% |
| Operating margin | 5.5% | −1.8% | 15.1% | 17.6% | −10.1% |
| Net margin | −10.7% | −6.1% | 10.8% | 13.8% | −8.3% |
| Return on equityBlank when equity is negative | −8.3% | −7.3% | 11.1% | 13.7% | −8.2% |
| ROCEEBIT ÷ (assets − current liabilities) | 1.5% | −0.7% | 5.9% | 6.5% | −4.6% |
| Free cash flow margin | 24.3% | 34.0% | 27.9% | 33.4% | 30.4% |
| Cash conversion (CFO ÷ net income) | −2.36x | −5.68x | 2.63x | 2.49x | −3.81x |
| Receivable days | 66 | 65 | 67 | 64 | 71 |
| Interest cover | 1.89x | −2.00x | 17.6x | – | – |
| Debt ÷ equity | 1.53x | 1.86x | 1.53x | 1.49x | 1.24x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $5.5B | $4.8B | $4.2B | $3.7B | $4B |
| Current ratio | 3.23x | 2.79x | 2.24x | 4.46x | 1.86x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.