Legend Biotech Corp Financials
Legend Biotech Corp (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).
Legend Biotech’s sales scale-up is shrinking cash burn, but FY2025 liquidity was rebuilt mainly outside operations.
Cash conversion improved as revenue expanded: operating cash flow was-$100.2M in FY2025 versus a much deeper outflow two years earlier, suggesting added volume is covering more of the fixed spend. At the same time, cash climbed to$901.9M with almost no help from financing, so the stronger cash cushion came mainly from investing inflows rather than the core business.
Accounting losses overstated near-term cash drain in FY2025: net loss was
Solvency still looks equity-funded because long-term debt was only
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 Corp'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 Corp, and counted as zero in the overall score.
Legend Biotech Corp's revenue surged 64.0% year-over-year to $1.0B, reflecting rapid business expansion. This strong growth earns a score of 97/100.
Legend Biotech Corp 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 Corp's current ratio of 1.96 indicates adequate short-term liquidity, earning a score of 56/100. The company can meet its near-term obligations, though with limited headroom.
Legend Biotech Corp'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 9/100.
Not available for Legend Biotech Corp, and counted as zero in the overall score.
Legend Biotech Corp 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 Corp 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 Corp generated $1.0B in revenue in fiscal year 2025. This represents an increase of 64.0% from the prior year.
Legend Biotech Corp reported -$296.8M in net income in fiscal year 2025. This represents a decrease of 67.7% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Cash & Balance Sheet
Legend Biotech Corp recorded an outflow of $128.8M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 18.5% from the prior year.
Legend Biotech Corp held $901.9M in cash against $87.2M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
Legend Biotech Corp's net profit margin was -28.8% in fiscal year 2025, showing the share of revenue converted to profit. This is down 0.6 percentage points from the prior year.
Legend Biotech Corp's ROE was -29.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 12.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 2025.
Capital Allocation
Legend Biotech Corp invested $28.6M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 102.8% from the prior year.
Not reported for fiscal year 2025.
Not reported for fiscal year 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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.0B+64.0% | $627.2M+120.0% | $285.1M+143.7% | $117.0M+70.0% | $68.8M-8.2% | $75.0M+25.0% | $60.0M+22.1% | $49.1M |
| Interest Expense | $3.5M+94.4% | $1.8M+29.1% | $1.4M+164.5% | $527K+271.1% | $142K-27.2% | $195K-2.0% | $199K+142.7% | $82K |
| Income Tax | $14.2M-24.9% | $18.9M+1094.7% | -$1.9M-404.0% | $625K+117.3% | -$3.6M+91.4% | -$41.9M-62.9% | -$25.7M-2302.8% | $1.2M |
| Net Income | -$296.8M-67.7% | -$177.0M+65.8% | -$518.3M-16.1% | -$446.3M-10.6% | -$403.6M-51.5% | -$266.4M-162.2% | -$101.6M-3549.1% | -$2.8M |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, R&D Expenses, SG&A Expenses, Operating Income, 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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.7B+3.8% | $1.7B-9.7% | $1.8B+38.9% | $1.3B+18.9% | $1.1B+55.0% | $722.1M+151.0% | $287.7M | N/A |
| Current Assets | $1.2B-2.9% | $1.3B-14.3% | $1.5B+36.3% | $1.1B+15.7% | $949.9M+59.9% | $593.9M+186.8% | $207.1M | N/A |
| Cash & Equivalents | $901.9M+214.6% | $286.7M-77.6% | $1.3B+62.6% | $786.0M+14.1% | $688.9M+51.2% | $455.7M+446.6% | $83.4M-60.3% | $210.2M |
| Inventory | $32.0M+33.9% | $23.9M+23.0% | $19.4M+87.7% | $10.4M+492.0% | $1.7M-2.8% | $1.8M+55.6% | $1.2M | N/A |
| Total Liabilities | $731.6M+16.2% | $629.6M+5.4% | $597.2M+1.8% | $586.7M+65.9% | $353.5M+184.4% | $124.3M-8.8% | $136.4M | N/A |
| Current Liabilities | $636.4M+129.2% | $277.7M+28.3% | $216.4M-27.3% | $297.8M+29.9% | $229.2M+98.3% | $115.6M-9.5% | $127.8M | N/A |
| Long-Term Debt | $87.2M+95.5% | $44.6M+1.0% | $44.2M+120.4% | $20.0M+1157.9% | $1.6M-16.6% | $1.9M-62.3% | $5.1M | N/A |
| Total Equity | $1.0B-3.7% | $1.0B-16.8% | $1.3B+68.1% | $744.4M-2.8% | $765.9M+28.1% | $597.8M+295.0% | $151.3M-40.2% | $252.9M |
| Retained Earnings | N/A | N/A | N/A | N/A | $471.2M+68.2% | $280.2M+328.0% | -$122.9M | N/A |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.
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.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$100.2M+30.4% | -$144.0M+63.4% | -$393.3M-95.4% | -$201.3M-1.4% | -$198.5M+11.0% | -$223.0M-168.5% | -$83.1M-127.0% | $307.7M |
| Capital Expenditures | $28.6M+102.8% | $14.1M-29.9% | $20.1M-4.0% | $20.9M-50.4% | $42.2M+60.7% | $26.3M-1.9% | $26.8M+27.7% | $21.0M |
| Free Cash Flow | -$128.8M+18.5% | -$158.1M+61.8% | -$413.4M-86.0% | -$222.2M+7.7% | -$240.7M+3.4% | -$249.3M-126.9% | -$109.8M-138.3% | $286.7M |
| Investing Cash Flow | $709.6M+183.4% | -$850.6M-1015.6% | $92.9M+220.5% | -$77.1M+60.5% | -$195.0M-706.7% | -$24.2M+58.8% | -$58.7M+42.6% | -$102.3M |
| Financing Cash Flow | -$300K-105.3% | $5.7M-99.3% | $791.4M+109.4% | $378.0M-39.7% | $626.7M+1.3% | $618.9M+4119.8% | $14.7M+486.4% | $2.5M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LEGN Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|---|---|---|
| Net Margin | -28.8%-0.6pp | -28.2% | -181.8% | -381.5% | -586.4% | -355.2% | -169.4% | -5.7% |
| Return on Equity | -29.6%-12.6pp | -17.0%+24.4pp | -41.4%+18.5pp | -60.0%-7.3pp | -52.7%-8.1pp | -44.6%+22.6pp | -67.1%-66.0pp | -1.1% |
| Return on Assets | -17.1%-6.5pp | -10.6%+17.4pp | -28.0%+5.5pp | -33.5%+2.5pp | -36.0%+0.8pp | -36.9%-1.6pp | -35.3% | N/A |
| Current Ratio | 1.96-2.7x | 4.62-2.3x | 6.92+3.2x | 3.69-0.5x | 4.14-1.0x | 5.14+3.5x | 1.62 | N/A |
| Debt-to-Equity | 0.090.0x | 0.040.0x | 0.040.0x | 0.030.0x | 0.000.0x | 0.000.0x | 0.03 | N/A |
| FCF Margin | -12.5%+12.7pp | -25.2% | -145.0% | -189.9% | -349.7% | -332.4% | -183.1% | 583.6% |
Not reported in any period shown, so not listed: Gross Margin, Operating Margin.
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: Net Margin, FCF Margin.
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Where Legend Biotech Corp Ranks
Frequently Asked Questions
What is Legend Biotech Corp's annual revenue?
Legend Biotech Corp (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 Corp's revenue growing?
Legend Biotech Corp (LEGN) revenue grew by 64.0% year-over-year, from $627.2M to $1.0B in fiscal year 2025.
Is Legend Biotech Corp profitable?
No, Legend Biotech Corp (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 Corp have?
As of fiscal year 2025, Legend Biotech Corp (LEGN) had $901.9M in cash and equivalents against $87.2M in long-term debt.
What is Legend Biotech Corp's net profit margin?
Legend Biotech Corp (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 Corp's return on equity (ROE)?
Legend Biotech Corp (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 Corp's free cash flow?
Legend Biotech Corp (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 Corp's operating cash flow?
Legend Biotech Corp (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 Corp's total assets?
Legend Biotech Corp (LEGN) had $1.7B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Legend Biotech Corp's capital expenditures?
Legend Biotech Corp (LEGN) invested $28.6M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is Legend Biotech Corp's current ratio?
Legend Biotech Corp (LEGN) had a current ratio of 1.96 as of fiscal year 2025, which is generally considered healthy.
What is Legend Biotech Corp's debt-to-equity ratio?
Legend Biotech Corp (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 Corp's return on assets (ROA)?
Legend Biotech Corp (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 Corp's cash runway?
Based on fiscal year 2025 data, Legend Biotech Corp (LEGN) had $901.9M in cash against an annual operating cash burn of $100.2M. This gives an estimated cash runway of approximately 108 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Legend Biotech Corp's Piotroski F-Score?
Legend Biotech Corp (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 Corp's earnings high quality?
Legend Biotech Corp (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 Corp?
Legend Biotech Corp (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.