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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
Mirum Pharmaceuticals reported revenue of $521M in the fiscal year ended Dec 2025, up 54.7% from the year before. Operating income was −$22M, an operating margin of −4.2%, and net income was −$23M. Operating cash flow of $56M less capital expenditure of $954,000 left free cash flow of $55M.
Ranks among the 78 drug manufacturers companies we cover (1st = best; for debt, the least indebted). Green = top third, red = bottom third.
Last 5 fiscal years
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | 19.1 | 77.1 | 186 | 337 | 521 |
| Research & development | 131 | 107 | 103 | 141 | 186 |
| Selling, general & admin | 59.2 | 89.1 | 146 | 202 | 257 |
| Operating income | −173 | −131 | −109 | −87.6 | −22.1 |
| Interest expense | – | 16.0 | 15.1 | 14.3 | 14.4 |
| Pre-tax income | −84.0 | −142 | −162 | −86.9 | −21.4 |
| Income tax | 0.0 | −6.4 | 1.0 | 1.0 | 1.9 |
| Net income | −84.0 | −136 | −163 | −87.9 | −23.4 |
| Diluted EPS | −2.77 | −4.02 | −4.00 | −1.85 | −0.47 |
| Diluted shares | 30.3 | 34.0 | 40.9 | 47.5 | 50.2 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 31.3 | 28.0 | 286 | 223 | 297 |
| Receivables | 3.3 | 24.0 | 68.0 | 78.3 | 123 |
| Inventory | 1.5 | 5.6 | 22.3 | 22.4 | 24.9 |
| Current assets | 167 | 190 | 388 | 393 | 550 |
| Net PP&E | 1.0 | 0.9 | 0.7 | 1.1 | 1.9 |
| Total assets | 295 | 353 | 647 | 671 | 843 |
| Payables | 9.2 | 8.7 | 7.4 | 14.6 | 9.6 |
| Deferred revenue | – | – | – | – | 3.6 |
| Current liabilities | 42.6 | 64.7 | 87.1 | 127 | 206 |
| Total liabilities | 174 | 211 | 398 | 445 | 528 |
| Shareholders' equity | 120 | 142 | 249 | 226 | 315 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −133 | −120 | −70.9 | 10.3 | 55.8 |
| Capital expenditure | 0.0 | 0.3 | 0.1 | 1.0 | 1.0 |
| Free cash flow | −133 | −120 | −71.1 | 9.3 | 54.9 |
| Depreciation & amortisation | 0.6 | 3.2 | 10.8 | 23.6 | 24.2 |
| Stock-based compensation | 23.1 | 27.0 | 35.0 | 48.4 | 71.4 |
| Acquisitions | 0.0 | 0.0 | 213 | 0.0 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 302.7% | 141.8% | 80.8% | 54.7% |
| Operating margin | −906.1% | −170.3% | −58.6% | −26.0% | −4.2% |
| Net margin | −438.9% | −176.0% | −87.7% | −26.1% | −4.5% |
| Return on equityBlank when equity is negative | −69.9% | −95.5% | −65.7% | −39.0% | −7.4% |
| ROCEEBIT ÷ (assets − current liabilities) | −68.8% | −45.5% | −19.5% | −16.1% | −3.5% |
| Free cash flow margin | −693.8% | −156.3% | −38.1% | 2.8% | 10.5% |
| Cash conversion (CFO ÷ net income) | 1.58x | 0.89x | 0.43x | −0.12x | −2.39x |
| Receivable days | 62 | 114 | 133 | 85 | 86 |
| Interest cover | – | −8.21x | −7.23x | −6.12x | −1.54x |
| Current ratio | 3.91x | 2.94x | 4.45x | 3.10x | 2.67x |
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.