Legend Biotech Corporation (LEGN) 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 3, 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 Mar 10, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LEGN SEC filings page.
Legend Biotech Corporation (LEGN) reported $1.0B in revenue for fiscal year 2025, up 64.0% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 8 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).
Rapid commercialization has reduced cash losses, but operations remain self-financing neither through earnings nor operating cash flow.
Revenue expanded from$285M in FY2023 to$1.0B in FY2025, while profitability remained negative. Operating cash flow improved from-$393M to-$100M over the same span, showing that scale reduced cash loss without making operations self-funded.
The current ratio fell from 6.9x in FY2023 to 2.0x in FY2025, indicating substantially less short-term balance-sheet flexibility as commercialization scaled. Debt-to-equity also rose from
In FY2025, free cash flow was
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. 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 Legend Biotech Corporation'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 Legend Biotech Corporation, and counted as zero in the overall score.
Legend Biotech Corporation's revenue surged 64.0% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 98/100.
Legend Biotech Corporation carries a low D/E ratio of 0.09, meaning only $0.09 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 81/100, indicating a strong balance sheet with room for future borrowing.
Legend Biotech Corporation's current ratio of 1.96 indicates adequate short-term liquidity, earning a score of 58/100. The company can meet its near-term obligations, though with limited headroom.
Legend Biotech Corporation's operations used $100.2M of cash, and capex of $28.6M added to the outflow, for a free cash flow shortfall of $128.8M. This results in a cash flow score of 6/100.
Not available for Legend Biotech Corporation, and counted as zero in the overall score.
Legend Biotech Corporation passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Legend Biotech Corporation reported a net loss of $296.8M while operations used $100.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Legend Biotech Corporation generated $306.5M in revenue in Q4 2025. This represents an increase of 64.3% from the same quarter a year earlier. Against the prior quarter it is up 12.5%.
Legend Biotech Corporation reported -$30.8M in net income in Q4 2025. This represents a decrease of 217.1% from the same quarter a year earlier. Against the prior quarter it is up 22.4%.
Not reported for Q4 2025.
Not reported for Q4 2025.
Cash & Balance Sheet
Legend Biotech Corporation recorded an outflow of $24.6M in free cash flow in Q4 2025, representing a cash shortfall after capex. This represents an increase of 70.9% from the same quarter a year earlier. Against the prior quarter it is down 203.3%.
Legend Biotech Corporation held $901.9M in cash against $87.2M in long-term debt as of Q4 2025.
Not reported for Q4 2025.
Margins & Returns
Legend Biotech Corporation's net profit margin was -10.1% in Q4 2025, showing the share of revenue converted to profit. This is down 24.2 percentage points from the same quarter a year earlier. Against the prior quarter it is up 4.5 percentage points.
Legend Biotech Corporation's ROE was -3.1% in Q4 2025, measuring profit generated per dollar of shareholder equity. This is down 5.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.8 percentage points.
Not reported for Q4 2025.
Not reported for Q4 2025.
Capital Allocation
Legend Biotech Corporation invested $12.4M in capex in Q4 2025, funding long-term assets and infrastructure. This represents an increase of 421.2% from the same quarter a year earlier. Against the prior quarter it is up 147.1%.
Not reported for Q4 2025.
Not reported for Q4 2025.
LEGN 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 | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $306.5M+64.3% | $272.3M+70.0% | $255.1M+36.7% | $195.1M+107.5% | $186.5M | $160.2M | $186.5M | $94.0M+158.7% |
| Interest Expense | $6.7M+64.2% | $5.6M+2.4% | $4.5M-13.5% | $4.6M-9.8% | $4.1M | $5.5M | $5.2M | $5.1M+2.9% |
| Income Tax | $11.2M-21.2% | $616K-86.1% | $582K+157.5% | $1.8M+35620.0% | $14.2M | $4.4M | $226K | $5K-96.1% |
| Net Income | -$30.8M-217.1% | -$39.7M+68.3% | -$125.4M-589.1% | -$100.9M-68.8% | $26.3M | -$125.3M | -$18.2M | -$59.8M+46.7% |
| Diluted Shares (Avg) | N/A | 369M+0.7% | 368M+0.8% | N/A | N/A | 367M | 365M | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, EBITDA, EPS (Basic), EPS (Diluted).
LEGN 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 | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.7B+3.8% | $1.7B-1.3% | $1.7B-6.0% | $1.6B-9.0% | $1.7B-9.7% | $1.7B-5.6% | $1.8B-6.9% | $1.8B |
| Current Assets | $1.2B-2.9% | $1.2B-8.0% | $1.2B-12.3% | $1.2B-13.8% | $1.3B-14.3% | $1.4B-10.5% | $1.4B-11.7% | $1.4B |
| Cash & Equivalents | $901.9M+214.6% | $278.9M-39.3% | $266.6M+32.5% | $441.7M-50.8% | $286.7M-77.6% | $459.3M-52.3% | $201.3M-83.7% | $897.6M+36.0% |
| Inventory | $32.0M+33.9% | $29.2M+23.9% | $35.6M+88.6% | $30.9M+39.7% | $23.9M+23.0% | $23.5M+30.7% | $18.9M+24.2% | $22.1M |
| Total Liabilities | $731.6M+16.2% | $701.7M+13.2% | $654.4M+2.4% | $597.9M-2.2% | $629.6M+5.4% | $619.7M+24.0% | $639.2M+22.1% | $611.0M |
| Current Liabilities | $636.4M+129.2% | $433.6M+60.1% | $265.5M-9.8% | $234.4M-6.1% | $277.7M+28.3% | $270.9M+54.6% | $294.3M+46.1% | $249.7M |
| Non-Current Liabilities | $95.2M-72.9% | $268.1M-23.1% | $388.9M+12.8% | $363.5M+0.6% | $351.9M-7.6% | $348.8M+7.5% | $344.9M+7.0% | $361.4M |
| Long-Term Debt | $87.2M+95.5% | $88.1M+93.0% | $71.7M+62.9% | $51.7M+14.5% | $44.6M+1.0% | $45.6M+9.4% | $44.0M-0.9% | $45.2M |
| Total Equity | $1.0B-3.7% | $1.0B-9.4% | $1.0B-10.7% | $1.0B-12.6% | $1.0B-16.8% | $1.1B-16.7% | $1.2B-17.6% | $1.2B+78.2% |
Not reported in any period shown, so not listed: Short-Term Investments, Accounts Receivable, Long-Term Investments, Goodwill, Retained Earnings.
LEGN 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 | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$12.2M+85.1% | $28.8M+138.0% | -$13.0M-689.9% | -$103.8M-768.6% | -$82.0M+14.2% | -$75.8M-24.6% | -$1.7M+98.3% | $15.5M+111.1% |
| Capital Expenditures | $12.4M+421.2% | $5.0M+142.4% | $9.2M+169.8% | $2.0M-67.9% | $2.4M-45.6% | $2.1M-61.6% | $3.4M-43.8% | $6.2M+46.1% |
| Free Cash Flow | -$24.6M+70.9% | $23.8M+130.6% | -$22.3M-339.2% | -$105.8M-1240.2% | -$84.4M+15.6% | -$77.9M-17.6% | -$5.1M+95.1% | $9.3M+106.5% |
| Investing Cash Flow | $638.5M+826.4% | -$20.0M-106.1% | -$165.5M+76.2% | $256.6M+164.8% | -$87.9M-121.6% | $329.1M+257.4% | -$695.6M-471.7% | -$396.1M-2571.0% |
| Financing Cash Flow | -$647K-95.5% | $670K-84.2% | -$990K-203.7% | $667K-19.7% | -$331K-139.6% | $4.2M+341.7% | $955K-99.9% | $831K+287.2% |
Not reported in any period shown, so not listed: Depreciation & Amortization, Stock-Based Compensation, Dividends Paid, Share Buybacks.
LEGN 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 | Q1'2510-Q | Q4'2420-F | Q3'246-K | Q2'246-K | Q1'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -10.1%-24.2pp | -14.6%+63.7pp | -49.2%-39.4pp | -51.7%+11.9pp | 14.1% | -78.2% | -9.8% | -63.6% |
| Return on Equity | -3.1%-5.6pp | -3.9%+7.3pp | -12.1%-10.5pp | -9.9%-4.8pp | 2.5% | -11.2% | -1.6% | -5.1%+12.0pp |
| Return on Assets | -1.8%-3.4pp | -2.3%+4.9pp | -7.4%-6.4pp | -6.3%-2.9pp | 1.6% | -7.2% | -1.0% | -3.4% |
| Current Ratio | 1.96-2.7x | 2.86-2.1x | 4.71-0.1x | 5.20-0.5x | 4.62-2.3x | 4.98-3.6x | 4.84-3.2x | 5.66 |
| Debt-to-Equity | 0.090.0x | 0.090.0x | 0.070.0x | 0.050.0x | 0.040.0x | 0.040.0x | 0.040.0x | 0.04 |
| Asset Turnover | 0.18+0.1x | 0.16+0.1x | 0.150.0x | 0.12+0.1x | 0.11 | 0.09 | 0.10 | 0.05 |
| FCF Margin | -8.0%+37.2pp | 8.7%+57.4pp | -8.7%-6.0pp | -54.2%-64.1pp | -45.3% | -48.6% | -2.7% | 9.9% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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 |
|---|---|---|---|---|---|---|
| Legend Biotech Corporation LEGN | FY2025 | $1.0B | -$296.8M | -28.8% | $3.6B | 41/100 |
| Axsome Therapeutics, Inc AXSM | FY2025 | $638.5M | -$183.2M | -28.7% | $9.4B | 37/100 |
| Rhythm Pharmaceuticals, Inc. RYTM | FY2025 | $189.8M | -$197K | -0.1% | $6.4B | 65/100 |
| Cytokinetics Inc. CYTK | FY2025 | $88.0M | -$785.0M | N/A | $9.1B | 60/100 |
| Merus N.V. MRUS | FY2024 | $36.1M | -$215.3M | N/A | $6.8B | 59/100 |
Where Legend Biotech Corporation Ranks
Frequently Asked Questions
What is Legend Biotech Corporation's annual revenue?
Legend Biotech Corporation (LEGN) reported $1.0B in total revenue for fiscal year 2025. This represents a 64.0% 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 Legend Biotech Corporation's revenue growing?
Legend Biotech Corporation (LEGN) revenue grew by 64.0% year-over-year, from $627.2M to $1.0B in fiscal year 2025.
Is Legend Biotech Corporation profitable?
No, Legend Biotech Corporation (LEGN) reported a net income of -$296.8M in fiscal year 2025, with a net profit margin of -28.8%.
How much debt does Legend Biotech Corporation have?
As of fiscal year 2025, Legend Biotech Corporation (LEGN) had $901.9M in cash and equivalents against $87.2M in long-term debt.
What is Legend Biotech Corporation's net profit margin?
Legend Biotech Corporation (LEGN) had a net profit margin of -28.8% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Legend Biotech Corporation's return on equity (ROE)?
Legend Biotech Corporation (LEGN) has a return on equity of -29.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Legend Biotech Corporation's free cash flow?
Legend Biotech Corporation (LEGN) recorded an outflow of $128.8M in free cash flow during fiscal year 2025. This represents a 18.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Legend Biotech Corporation's operating cash flow?
Legend Biotech Corporation (LEGN) recorded an outflow of $100.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Legend Biotech Corporation's total assets?
Legend Biotech Corporation (LEGN) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Legend Biotech Corporation's capital expenditures?
Legend Biotech Corporation (LEGN) invested $28.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Legend Biotech Corporation's current ratio?
Legend Biotech Corporation (LEGN) had a current ratio of 1.96 as of fiscal year 2025, which is generally considered healthy.
What is Legend Biotech Corporation's debt-to-equity ratio?
Legend Biotech Corporation (LEGN) had a debt-to-equity ratio of 0.09 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Legend Biotech Corporation's return on assets (ROA)?
Legend Biotech Corporation (LEGN) had a return on assets of -17.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Legend Biotech Corporation's P/E ratio?
Legend Biotech Corporation (LEGN) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (FY2025). The market capitalization is $3.6B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Legend Biotech Corporation's price-to-sales ratio?
Legend Biotech Corporation (LEGN) trades at 3.5x sales, its market capitalization divided by revenue of $1.0B revenue, FY2025. The market capitalization is $3.6B as of Oct 3, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Legend Biotech Corporation's Piotroski F-Score?
Legend Biotech Corporation (LEGN) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 Legend Biotech Corporation's earnings high quality?
Legend Biotech Corporation (LEGN) reported a net loss of $296.8M while operations used $100.2M of cash. With neither figure positive, 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.
How financially healthy is Legend Biotech Corporation?
Legend Biotech Corporation (LEGN) scores 41 out of 100 on our Financial Health Score, indicating moderate standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), 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. 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.