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Drug manufacturers · Healthcare · Fiscal year ends Dec 31
PTC Therapeutics reported revenue of $1.7B in the fiscal year ended Dec 2025, up 114.5% from the year before. Operating income was $867M, an operating margin of 50.1%, and net income was $683M. Operating cash flow of $711M less capital expenditure of $9M left free cash flow of $702M.
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 | 539 | 699 | 938 | 807 | 1,731 |
| Research & development | 541 | 651 | 667 | 534 | 455 |
| Selling, general & admin | 286 | 326 | 333 | 301 | 347 |
| Operating income | −374 | −447 | −440 | −303 | 867 |
| Pre-tax income | −518 | −587 | −696 | −363 | 697 |
| Income tax | 5.6 | −28.5 | −69.5 | 0.2 | 14.0 |
| Net income | −524 | −559 | −627 | −363 | 683 |
| Diluted EPS | −7.43 | −7.79 | −8.37 | −4.73 | 7.78 |
| Diluted shares | 70.5 | 71.7 | 74.8 | 76.8 | 88.3 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | 190 | 280 | 594 | 780 | 985 |
| Receivables | 110 | 156 | 161 | 159 | 182 |
| Inventory | 15.9 | 21.8 | 30.6 | 23.2 | 79.6 |
| Current assets | 954 | 694 | 1,219 | 1,366 | 2,274 |
| Net PP&E | 52.6 | 72.6 | 87.1 | 61.0 | 55.4 |
| Goodwill | 82.3 | 82.3 | 82.3 | 82.3 | 82.3 |
| Total assets | 1,938 | 1,706 | 1,896 | 1,705 | 2,899 |
| Payables | 23.0 | 27.3 | 6.0 | 17.3 | 45.5 |
| Deferred revenue | 0.0 | 1.4 | 0.8 | 5.5 | 2.0 |
| Current liabilities | 509 | 406 | 603 | 581 | 968 |
| Short-term debt | 150 | – | – | – | 287 |
| Long-term debt | 282 | 572 | 284 | 285 | – |
| Total liabilities | 1,937 | 2,053 | 2,714 | 2,803 | 3,104 |
| Shareholders' equity | 1.4 | −347 | −819 | −1,098 | −205 |
| Backlog (remaining obligations) | 0.0 | 1.4 | 0.8 | 0.0 | 0.0 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | −251 | −357 | −158 | −108 | 711 |
| Capital expenditure | 28.2 | 32.0 | 28.4 | 6.5 | 8.9 |
| Free cash flow | −280 | −389 | −187 | −114 | 702 |
| Depreciation & amortisation | 64.1 | 129 | 237 | 75.7 | 38.8 |
| Stock-based compensation | 104 | 110 | 102 | 74.6 | 74.5 |
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 29.7% | 34.2% | −14.0% | 114.5% |
| Operating margin | −69.5% | −64.0% | −46.9% | −37.5% | 50.1% |
| Net margin | −97.3% | −80.0% | −66.8% | −45.0% | 39.4% |
| Return on equityBlank when equity is negative | −36432.6% | – | – | – | – |
| ROCEEBIT ÷ (assets − current liabilities) | −26.2% | −34.4% | −34.0% | −26.9% | 44.9% |
| Free cash flow margin | −51.9% | −55.6% | −19.9% | −14.2% | 40.6% |
| Cash conversion (CFO ÷ net income) | 0.48x | 0.64x | 0.25x | 0.30x | 1.04x |
| Receivable days | 75 | 81 | 63 | 72 | 38 |
| Debt ÷ equity | 300x | – | – | – | – |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | 242 | 292 | −310 | −494 | – |
| Current ratio | 1.87x | 1.71x | 2.02x | 2.35x | 2.35x |
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.