Ascendis Pharma A/S (ASND) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 22, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 20-F for FY2025, filed Feb 11, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the ASND SEC filings page.
Ascendis Pharma A/S (ASND) reported $845.1M in revenue for fiscal year 2025, up 124.5% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 11 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group, and the overall is the average of the dimensions that can be computed: here 4 of 6, with the others left out rather than counted as zero. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Ascendis Pharma A/S's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Not available for Ascendis Pharma A/S, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Ascendis Pharma A/S had 62M shares outstanding at the end of fiscal year 2025, against 61M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ascendis Pharma A/S scores 60/100 among other emerging companies.
Ascendis Pharma A/S spent $356.3M on research and development in fiscal year 2025, which was 35.5% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Ascendis Pharma A/S scores 67/100 among other emerging companies.
Ascendis Pharma A/S reported revenue of $845.1M in fiscal year 2025, against $376.4M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Ascendis Pharma A/S scores 83/100 among other emerging companies.
Ascendis Pharma A/S's operations generated $63.3M of cash in fiscal year 2025, against $316.9M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ascendis Pharma A/S scores 91/100 among other emerging companies.
Not available for Ascendis Pharma A/S, so it is left out of the overall score, which averages the 4 of 6 dimensions that can be computed.
Ascendis Pharma A/S passes 5 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 operating efficiency signals passes.
Ascendis Pharma A/S reported a net loss of $267.6M while generating $63.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal.
Ascendis Pharma A/S reported an operating loss of $159.9M against $94.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Ascendis Pharma A/S generated $290.5M in revenue in Q4 2025. This represents an increase of 61.4% from the same quarter a year earlier. Against the prior quarter it is up 15.9%.
Ascendis Pharma A/S reported a net loss of $39.4M in Q4 2025. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q4 2025.
Not reported for Q4 2025.
Cash & Balance Sheet
Ascendis Pharma A/S held $723.0M in cash against $452.1M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Not reported for Q4 2025.
Margins & Returns
Ascendis Pharma A/S's gross margin was 90.5% in Q4 2025, indicating the percentage of revenue retained after direct costs. This is down 1.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.9 percentage points.
Ascendis Pharma A/S's operating margin was 4.0% in Q4 2025, reflecting core business profitability. This is up 3.8 percentage points from the same quarter a year earlier. Against the prior quarter it is down 1.1 percentage points.
Ascendis Pharma A/S's net profit margin was -13.6% in Q4 2025, showing the share of revenue converted to profit. This is up 8.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 15.0 percentage points.
Not reported for Q4 2025.
Capital Allocation
Ascendis Pharma A/S invested $91.7M in research and development in Q4 2025. This represents an increase of 11.7% from the same quarter a year earlier. Against the prior quarter it is up 16.9%.
Ascendis Pharma A/S repurchased no shares in Q4 2025. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
Not reported for Q4 2025.
ASND Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Revenue | $290.5M+61.4% | $250.7M+289.0% | $186.0M+382.4% | $109.0M+5.3% | $180.0M+18.2% | $64.5M+26.8% | $38.6M-25.5% | $103.5M+183.4% |
| Cost of Revenue | $27.7M+90.8% | $26.2M+110.1% | $37.0M+201.4% | $18.9M+131.5% | $14.5M-32.6% | $12.5M+59.6% | $12.3M-13.0% | $8.2M+62.6% |
| Gross Profit | $262.8M+58.8% | $224.5M+331.9% | $149.0M+467.1% | $90.1M-5.5% | $165.5M+26.5% | $52.0M+20.8% | $26.3M-30.2% | $95.3M+202.6% |
| R&D Expenses | $91.7M+11.7% | $78.5M-4.2% | $84.7M-5.2% | $93.5M+22.6% | $82.1M-18.4% | $82.0M-30.5% | $89.4M-22.0% | $76.3M-33.9% |
| Operating Income | $11.6M+2836.9% | $12.9Mn/m | -$62.3Mn/m | -$112.5Mn/m | $395Kn/m | -$107.8Mn/m | -$142.7Mn/m | -$53.0Mn/m |
| Interest Expense | -$75.2Mn/m | $78.5M+177.9% | $38.9M+84.9% | $48.4M-41.9% | -$58.6M-14344.2% | $28.2M+8.9% | $21.0M+106.2% | $83.3M+678.3% |
| Income Tax | $8.0M+615.9% | $4.2M+273.4% | $4.5M+1746.5% | $1.1M-57.7% | $1.1M-82.4% | $1.1M+66.5% | $245Kn/m | $2.7M+91.9% |
| Net Income | -$39.4Mn/m | -$71.6Mn/m | -$45.7Mn/m | -$102.2Mn/m | -$39.8Mn/m | -$110.6Mn/m | -$117.2Mn/m | -$141.4Mn/m |
| EPS (Basic) | -$0.63n/m | -$1.17n/m | -$0.75n/m | -$1.71n/m | -$0.62n/m | -$1.92n/m | -$2.05n/m | -$2.48n/m |
| EPS (Diluted) | N/A | N/A | N/A | -$1.71n/m | -$0.62n/m | -$1.92n/m | -$2.05n/m | -$2.48n/m |
| Diluted Shares (Avg) | N/A | N/A | 64M+5.1% | N/A | N/A | N/A | 61M | N/A |
Not reported in any period shown, so not listed: SG&A Expenses, EBITDA.
ASND Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.5B+25.2% | $1.4B+11.2% | $1.3B+57.7% | $1.1B+32.3% | $1.2B+33.7% | $1.2B+31.9% | $812.2M-9.7% | $866.0M-17.6% |
| Current Assets | $1.3B+18.5% | $1.2B+10.1% | $1.1B+66.9% | $994.8M+38.8% | $1.1B+41.3% | $1.1B+39.9% | $671.9M-9.2% | $716.6M-18.6% |
| Cash & Equivalents | $723.0M+24.8% | $632.6M-9.3% | $581.5M+109.9% | $559.1M+61.8% | $579.2M+33.5% | $697.1M+49.3% | $277.1M-35.6% | $345.6M-36.6% |
| Inventory | $353.9M+15.7% | $354.4M+19.8% | $357.1M+32.7% | $316.4M+26.0% | $306.0M+32.4% | $295.8M+47.8% | $269.1M+46.7% | $251.1M+53.1% |
| Goodwill | $4.4M+4.4% | $4.4M-4.0% | $4.5M-0.5% | $4.2M-9.1% | $4.2M-14.7% | $4.6M | $4.5M | $4.6M |
| Total Liabilities | $1.7B+29.3% | $1.6B+17.5% | $1.5B+29.8% | $1.4B+20.3% | $1.3B+23.8% | $1.3B+32.5% | $1.2B+39.5% | $1.1B+29.3% |
| Current Liabilities | $1.3B+33.6% | $1.2B+23.9% | $1.1B+21.2% | $956.0M+10.9% | $939.7M+15.3% | $934.5M+315.0% | $908.0M+332.5% | $862.2M+299.8% |
| Non-Current Liabilities | $464.7M+19.0% | $401.7M+2.2% | $400.7M+61.5% | $394.8M+51.4% | $390.6M+50.4% | $393.0M-49.4% | $248.2M-59.9% | $260.8M-60.1% |
| Long-Term Debt | $452.1M+19.6% | $388.9M+2.9% | $388.6M+65.6% | $385.8M+55.7% | $377.9M+53.2% | $377.7M-35.0% | $234.6M-55.2% | $247.8M-52.5% |
| Total Equity | -$191.1Mn/m | -$204.3Mn/m | -$220.8Mn/m | -$204.9Mn/m | -$109.4Mn/m | -$108.5Mn/m | -$344.0M-585.8% | -$257.0M-241.4% |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments, Retained Earnings.
ASND Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $86.1Mn/m | $2.5Mn/m | -$8.6Mn/m | -$15.5Mn/m | -$90.2Mn/m | -$62.6Mn/m | -$65.7Mn/m | -$109.6Mn/m |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | $520K-49.6% | $366K-24.4% | $215K-81.8% |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | -$63.1Mn/m | -$66.0Mn/m | -$109.8Mn/m |
| Investing Cash Flow | -$4.0Mn/m | -$62Kn/m | -$5.1M-884.0% | -$759K-109.8% | -$397K-105.4% | -$561K-102.4% | $651K-98.7% | $7.7M-96.6% |
| Financing Cash Flow | $10.0M+10999.5% | $45.6M-90.4% | $8.2Mn/m | -$19.5M-197.9% | $90Kn/m | $476.9M+214.3% | -$2.6Mn/m | $19.9Mn/m |
| Share Buybacks | $0 | $0 | $0 | $18.8M | N/A | N/A | N/A | N/A |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid.
ASND Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q4'2520-F | Q3'256-K | Q2'256-K | Q1'256-K | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'246-K |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 90.5%-1.5pp | 89.5%+8.9pp | 80.1%+12.0pp | 82.7%-9.5pp | 91.9%+6.1pp | 80.6%-4.0pp | 68.2%-4.6pp | 92.1%+5.9pp |
| Operating Margin | 4.0%+3.8pp | 5.1% | -33.5% | -103.2% | 0.2%+26.8pp | -167.3% | -370.2% | -51.2% |
| Net Margin | -13.6%+8.6pp | -28.5% | -24.6% | -93.7% | -22.1%+41.0pp | -171.5% | -303.9% | -136.7% |
| Return on Assets | -2.6%+0.7pp | -5.3%+3.8pp | -3.6%+10.8pp | -8.9%+7.4pp | -3.3%+7.3pp | -9.1%+9.5pp | -14.4%+0.3pp | -16.3%-4.9pp |
| Current Ratio | 1.04-0.1x | 1.03-0.1x | 1.02+0.3x | 1.04+0.2x | 1.17+0.2x | 1.16-2.3x | 0.74-2.8x | 0.83-3.3x |
| Asset Turnover | 0.190.0x | 0.18+0.1x | 0.15+0.1x | 0.100.0x | 0.150.0x | 0.050.0x | 0.050.0x | 0.12+0.1x |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | -97.9% | -171.3% | -106.1% |
Not reported in any period shown, so not listed: Return on Equity, Debt-to-Equity, Liabilities-to-Equity.
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$191.1M), which causes the debt-to-equity, liabilities-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Ascendis Pharma A/S ASND | FY2025 | $845.1M | -$267.6M | -31.7% | $16.0B | 75/100 |
| Summit Therapeutics Inc. SMMT | FY2025 | N/A | -$1.1B | N/A | $12.4B | — |
| Exelixis Inc EXEL | FY2025 | $2.3B | $782.6M | 33.7% | $16.2B | 80/100 |
| Ionis Pharmaceuticals, Inc. IONS | FY2025 | $943.7M | -$381.4M | -40.4% | $7.3B | 68/100 |
| BioMarin Pharmaceuticals Inc BMRN | FY2025 | $3.2B | $348.9M | 10.8% | $11.0B | 75/100 |
| BridgeBio Pharma, Inc. BBIO | FY2025 | $502.1M | -$724.9M | N/A | $13.3B | 59/100 |
Where Ascendis Pharma A/S Ranks
Frequently Asked Questions
What is Ascendis Pharma A/S's annual revenue?
Ascendis Pharma A/S (ASND) reported $845.1M in total revenue for fiscal year 2025. This represents a 124.5% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ascendis Pharma A/S's revenue growing?
Ascendis Pharma A/S (ASND) revenue grew by 124.5% year-over-year, from $376.4M to $845.1M in fiscal year 2025.
Is Ascendis Pharma A/S profitable?
No, Ascendis Pharma A/S (ASND) reported a net loss of $267.6M in fiscal year 2025, with a net profit margin of -31.7%.
How much debt does Ascendis Pharma A/S have?
As of fiscal year 2025, Ascendis Pharma A/S (ASND) had $723.0M in cash and equivalents against $452.1M in long-term debt.
What is Ascendis Pharma A/S's gross margin?
Ascendis Pharma A/S (ASND) had a gross margin of 86.8% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ascendis Pharma A/S's operating margin?
Ascendis Pharma A/S (ASND) had an operating margin of -18.9% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ascendis Pharma A/S's net profit margin?
Ascendis Pharma A/S (ASND) had a net profit margin of -31.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ascendis Pharma A/S's operating cash flow?
Ascendis Pharma A/S (ASND) generated $63.3M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Ascendis Pharma A/S's total assets?
Ascendis Pharma A/S (ASND) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
How much does Ascendis Pharma A/S spend on research and development?
Ascendis Pharma A/S (ASND) invested $356.3M in research and development during fiscal year 2025.
What is Ascendis Pharma A/S's current ratio?
Ascendis Pharma A/S (ASND) had a current ratio of 1.04 as of fiscal year 2025, which is considered adequate.
What is Ascendis Pharma A/S's return on assets (ROA)?
Ascendis Pharma A/S (ASND) had a return on assets of -17.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ascendis Pharma A/S's P/E ratio?
Ascendis Pharma A/S (ASND) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $16.0B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ascendis Pharma A/S's price-to-sales ratio?
Ascendis Pharma A/S (ASND) trades at 18.9x sales, its market capitalization divided by $845.1M revenue, FY2025. The market capitalization is $16.0B as of Oct 22, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
Why is Ascendis Pharma A/S's debt-to-equity ratio negative or not reported?
Ascendis Pharma A/S (ASND) has negative shareholder equity of -$191.1M as of fiscal year 2025, so no debt-to-equity or liabilities-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Ascendis Pharma A/S's Piotroski F-Score?
Ascendis Pharma A/S (ASND) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ascendis Pharma A/S's earnings high quality?
Ascendis Pharma A/S (ASND) reported a net loss of $267.6M while generating $63.3M in operating cash flow. Operations generated cash despite the loss, but with no positive earnings behind it, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ascendis Pharma A/S cover its interest payments?
Ascendis Pharma A/S (ASND) reported an operating loss of $159.9M against $94.6M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ascendis Pharma A/S?
Ascendis Pharma A/S (ASND) scores 75 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is the average of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. For Ascendis Pharma A/S it averages the 4 of 6 dimensions that can be computed; the others are left out rather than counted as zero. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.