Biotechnology
30 companies · $97.7B combined revenue · $19.7B operating profit
The typical US-listed biotechnology company grew revenue 20.3% and earnings 57.3% in its latest year, at a 7.5% operating margin, and 7 of 30 earn a return on capital above 15%. Figures from each company's latest annual filing with the SEC, refreshed daily.
Growth engines: the 4 Cylinders
All four working: 14% of companiesA company's earnings per share can grow in only four ways: more sales, profits growing faster than sales (operating leverage), wider margins, and less debt. Each bar is the share of companies where that engine worked in their latest year.
- Sales growth · Revenue up 10% or more63%
- Operating leverage · Operating income growing faster than a growing revenue64%
- Margin expansion · Operating margin up 1 point or more74%
- Debt reduction · Debt down 5% or more, or net cash69%
Combined revenue · 29 companies reporting in US dollars
Combined operating margin
All 30 companies
| Median | – | 20.3% | 57.3% | 7.5% | -2.6% | 0.30x |
| AMGNAMGEN | $36.8B | 10%▼ | 88.5%▲ | 24.7%▲ | 13.9%▲ | 6.31x▼ |
| GILDGilead Sciences | $29.4B | 2.4%▼ | 1673%▲ | 34%▲ | 21.2%▲ | 1.10x▼ |
| MRNAModerna | $1.9B | -39.9%▼ | – | -158%▼ | -29.7%▼ | 0.07x▲ |
| ARGXArgenx | $4.2B | 89.9%▲ | 55.1%▼ | 25.4%▲ | 14.3%▲ | – |
| RVMDRevolution Medicines | $0M | – | – | – | -57.3%▼ | – |
| BIIBBiogen | $9.9B | 2.2%▼ | -20.8%▼ | 15.7%▲ | 6%▲ | 0.34x▼ |
| BNTXBioNTech | EUR 2.9B | 4.3%▼ | – | -49%▼ | -7.1%▼ | – |
| EXELExelixis | $2.3B | 7%▼ | 50.1%▼ | 37.6%▲ | 35.8%▲ | – |
| NBIXNeurocrine Biosciences | $2.9B | 21.4%▲ | 40.2%▼ | 21.6%▲ | 15.9%▲ | – |
| HALOHalozyme Therapeutics | $1.4B | 37.6%▲ | -28.6%▼ | 33.6%▲ | 20%▲ | 44x▼ |
| TECHBio-Techne | $1.2B | -0.4%▼ | 148%▲ | 20.7%▲ | 10.4%▲ | 0.09x▲ |
| RGENRepligen | $738M | 16.4%▼ | – | 7.5% | 2%▲ | 0.26x▲ |
| IBRXImmunityBio | $113M | 668%▲ | – | -226%▼ | -58.2%▼ | – |
| TWSTTwist Bioscience | $377M | 20.3% | – | -36.2%▼ | -24.8%▼ | – |
| KRYSKrystal Biotech | $389M | 33.9%▲ | 130%▲ | 41.5%▲ | 13.1%▲ | – |
| QGENQiagen | $2.1B | 5.7%▼ | 408%▲ | 22.3%▲ | 8.1%▲ | 0.44x▼ |
| KYMRKymera Therapeutics | $39M | -16.7%▼ | – | -891%▼ | -21.1%▼ | – |
| IOVAIovance Biotherapeutics | $264M | 60.6%▲ | – | -153%▼ | -52.1%▼ | – |
| CGONCG Oncology | $4M | 255%▲ | – | -4722%▼ | -25.1%▼ | 0.00x▲ |
| CRSPCRISPR Therapeutics | $4M | -90.6%▼ | – | -18934%▼ | -31.4%▼ | 0.00x▲ |
| SRRKScholar Rock | $0M | – | – | – | -110%▼ | 0.41x▼ |
| ADPTAdaptive Biotechnologies | $277M | 54.8%▲ | – | -20.6%▼ | -13.5%▼ | 0.60x▼ |
| RLAYRelay Therapeutics | $15M | 53.4%▲ | – | -1972%▼ | -50.8%▼ | – |
| TARSTarsus Pharmaceuticals | $451M | 147%▲ | – | -15.7%▼ | -16.6%▼ | 0.21x▲ |
| DNLIDenali Therapeutics | $0M | – | – | – | -53.1%▼ | – |
| BEAMBeam Therapeutics | $140M | 120%▲ | – | -275%▼ | -27.7%▼ | – |
| ADMAADMA Biologics | $510M | 19.6%▼ | -25.7%▼ | 37.5%▲ | 34.5%▲ | 0.15x▲ |
| NVAXNovavax | $1.1B | 64.7%▲ | – | 40.3%▲ | 63.2%▲ | – |
| VCELVericel | $276M | 16.5%▼ | 59.4%▲ | 4%▼ | 2.5%▲ | – |
| BCRXBiocryst Pharmaceuticals | $875M | 94.1%▲ | – | 39%▲ | 107%▲ | – |
▲ better than the median, ▼ worse. n/a: the ratio doesn't apply to that kind of business (e.g. a bank's operating margin). Sort by any column. Figures from each company's latest 10-K (or 20-F/40-F).