Mirum Pharmaceuticals Financials
Mirum Pharmaceuticals (MIRM) reported $521.3M in revenue for fiscal year 2025, up 54.7% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 7 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).
Revenue scale is finally absorbing Mirum’s fixed operating base, turning a long cash-burn story into positive self-funding before GAAP profit.
In FY2025, cash conversion improved faster than earnings: operating cash flow reached$55.8M even though net income remained at-$23.4M . Compared with FY2024, that gap suggests scale is now covering the cost base before accounting profit arrives, so the operating model looks materially different from the earlier burn-heavy years.
The business is becoming capital-light in practice: free cash flow of
The balance sheet shows comfortable liquidity but not excess conservatism: cash ended FY2025 at
Financial Health Signals
Scored against emerging 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 Mirum Pharmaceuticals'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.
Mirum Pharmaceuticals scores 6.64, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($5.9B) relative to total liabilities ($528.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Mirum Pharmaceuticals passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.
Mirum Pharmaceuticals reported a net loss of $23.4M while generating $55.8M 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.
Mirum Pharmaceuticals reported an operating loss of $22.1M against $14.4M 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
Mirum Pharmaceuticals generated $521.3M in revenue in fiscal year 2025. This represents an increase of 54.7% from the prior year.
Mirum Pharmaceuticals's EBITDA was $2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 103.3% from the prior year.
Mirum Pharmaceuticals reported -$23.4M in net income in fiscal year 2025. This represents an increase of 73.4% from the prior year.
Mirum Pharmaceuticals earned -$0.47 per diluted share (EPS) in fiscal year 2025. This represents an increase of 74.6% from the prior year.
Cash & Balance Sheet
Mirum Pharmaceuticals generated $54.9M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 488.0% from the prior year.
Mirum Pharmaceuticals held $296.7M in cash as of fiscal year 2025; long-term debt is not reported for that period.
Not reported for fiscal year 2025.
Margins & Returns
Mirum Pharmaceuticals's operating margin was -4.3% in fiscal year 2025, reflecting core business profitability. This is up 21.8 percentage points from the prior year.
Mirum Pharmaceuticals's net profit margin was -4.5% in fiscal year 2025, showing the share of revenue converted to profit. This is up 21.6 percentage points from the prior year.
Mirum Pharmaceuticals's ROE was -7.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 31.6 percentage points from the prior year.
Not reported for fiscal year 2025.
Capital Allocation
Mirum Pharmaceuticals invested $186.2M in research and development in fiscal year 2025. This represents an increase of 32.4% from the prior year.
Mirum Pharmaceuticals invested $954K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 3.9% from the prior year.
Not reported for fiscal year 2025.
MIRM Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $618.1M | $521.3M+54.7% | $336.9M+80.8% | $186.4M+141.8% | $77.1M+302.7% | $19.1M | $0 | N/A |
| R&D Expenses | $287.5M | $186.2M+32.4% | $140.6M+37.1% | $102.6M-4.0% | $106.8M-18.7% | $131.4M+61.1% | $81.6M+89.8% | $43.0M |
| SG&A Expenses | $313.8M | $257.0M+27.1% | $202.2M+38.6% | $145.9M+63.8% | $89.1M+50.4% | $59.2M+161.0% | $22.7M+93.1% | $11.8M |
| Operating Income | -$834.0M | -$22.1M+74.7% | -$87.6M+19.7% | -$109.2M+16.8% | -$131.2M+24.3% | -$173.4M-66.3% | -$104.3M-90.5% | -$54.7M |
| Interest Expense | $13.4M | $14.4M+0.5% | $14.3M-5.3% | $15.1M-5.5% | $16.0M | N/A | N/A | N/A |
| Income Tax | $2.7M | $1.9M+88.0% | $1.0M+3.9% | $991K+115.5% | -$6.4M-17413.5% | $37K+516.7% | $6K-71.4% | $21K |
| Net Income | -$860.2M | -$23.4M+73.4% | -$87.9M+46.2% | -$163.4M-20.5% | -$135.7M-61.5% | -$84.0M+18.7% | -$103.3M-96.5% | -$52.6M |
| EPS (Diluted) | — | -$0.47+74.6% | -$1.85+53.8% | -$4.00+0.5% | -$4.02-45.1% | -$2.77 | N/A | N/A |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MIRM 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 |
|---|---|---|---|---|---|---|---|
| Total Assets | $842.8M+25.7% | $670.8M+3.7% | $646.6M+83.2% | $352.9M+19.8% | $294.7M+22.3% | $240.9M+64.2% | $146.7M |
| Current Assets | $549.7M+39.9% | $392.8M+1.4% | $387.5M+103.7% | $190.2M+14.2% | $166.6M-29.5% | $236.3M+98.0% | $119.4M |
| Cash & Equivalents | $296.7M+33.3% | $222.5M-22.3% | $286.3M+922.5% | $28.0M-10.6% | $31.3M-77.9% | $142.1M+1087.0% | $12.0M |
| Inventory | $24.9M+11.1% | $22.4M+0.4% | $22.3M+300.9% | $5.6M+267.8% | $1.5M | $0 | N/A |
| Accounts Receivable | $123.3M+57.5% | $78.3M+15.2% | $68.0M+183.3% | $24.0M+634.4% | $3.3M | $0 | N/A |
| Total Liabilities | $528.1M+18.6% | $445.1M+11.9% | $398.0M+88.7% | $210.9M+20.9% | $174.4M+153.7% | $68.8M+320.3% | $16.4M |
| Current Liabilities | $205.8M+62.6% | $126.6M+45.4% | $87.1M+34.5% | $64.7M+52.0% | $42.6M+130.7% | $18.5M+41.2% | $13.1M |
| Total Equity | $314.7M+39.5% | $225.6M-9.3% | $248.7M+75.1% | $142.0M+18.2% | $120.2M-30.1% | $172.1M+32.0% | $130.3M |
| Retained Earnings | -$667.5M-3.6% | -$644.2M-15.8% | -$556.2M-41.6% | -$392.8M-52.8% | -$257.2M-48.5% | -$173.2M-147.7% | -$69.9M |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
MIRM 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 | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$227.3M | $55.8M+440.7% | $10.3M+114.6% | -$70.9M+40.9% | -$120.1M+9.5% | -$132.8M-49.0% | -$89.1M-126.3% | -$39.4M |
| Capital Expenditures | $1.5M | $954K-3.9% | $993K+811.0% | $109K-60.8% | $278K+1058.3% | $24K-89.3% | $225K-19.9% | $281K |
| Free Cash Flow | -$228.7M | $54.9M+488.0% | $9.3M+113.1% | -$71.1M+41.0% | -$120.4M+9.3% | -$132.8M-48.7% | -$89.3M-125.3% | -$39.6M |
| Investing Cash Flow | -$172.8M | -$24.0M+73.4% | -$90.1M+15.9% | -$107.2M-1492.2% | $7.7M-84.1% | $48.5M+28.2% | $37.9M+129.6% | -$127.8M |
| Financing Cash Flow | $506.6M | $40.1M+126.8% | $17.7M-94.7% | $336.6M+208.6% | $109.1M+48.5% | $73.5M-59.5% | $181.3M+42.5% | $127.2M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
MIRM Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|
| Operating Margin | -4.3%+21.8pp | -26.0%+32.6pp | -58.6% | -170.3% | -906.1% | N/A | N/A |
| Net Margin | -4.5%+21.6pp | -26.1%+61.6pp | -87.7% | -176.0% | -438.8% | N/A | N/A |
| Return on Equity | -7.4%+31.6pp | -39.0%+26.8pp | -65.7%+29.8pp | -95.5%-25.6pp | -69.9%-9.9pp | -60.0%-19.7pp | -40.3% |
| Return on Assets | -2.8%+10.3pp | -13.1%+12.2pp | -25.3%+13.2pp | -38.4%-9.9pp | -28.5%+14.4pp | -42.9%-7.1pp | -35.8% |
| Current Ratio | 2.67-0.4x | 3.10-1.3x | 4.45+1.5x | 2.94-1.0x | 3.91-8.9x | 12.80+3.7x | 9.13 |
| Debt-to-Equity | 1.68-0.3x | 1.97+0.4x | 1.60+0.1x | 1.480.0x | 1.45+1.1x | 0.40+0.3x | 0.13 |
| FCF Margin | 10.5%+7.8pp | 2.8%+40.9pp | -38.1% | -156.3% | -693.8% | N/A | N/A |
Not reported in any period shown, so not listed: Gross 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: Operating Margin, Net Margin, FCF Margin.
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Where Mirum Pharmaceuticals Ranks
Frequently Asked Questions
What is Mirum Pharmaceuticals's annual revenue?
Mirum Pharmaceuticals (MIRM) reported $521.3M in total revenue for fiscal year 2025. This represents a 54.7% 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 Mirum Pharmaceuticals's revenue growing?
Mirum Pharmaceuticals (MIRM) revenue grew by 54.7% year-over-year, from $336.9M to $521.3M in fiscal year 2025.
Is Mirum Pharmaceuticals profitable?
No, Mirum Pharmaceuticals (MIRM) reported a net income of -$23.4M in fiscal year 2025, with a net profit margin of -4.5%.
What is Mirum Pharmaceuticals's EBITDA?
Mirum Pharmaceuticals (MIRM) had EBITDA of $2.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Mirum Pharmaceuticals's operating margin?
Mirum Pharmaceuticals (MIRM) had an operating margin of -4.3% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Mirum Pharmaceuticals's net profit margin?
Mirum Pharmaceuticals (MIRM) had a net profit margin of -4.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Mirum Pharmaceuticals's return on equity (ROE)?
Mirum Pharmaceuticals (MIRM) has a return on equity of -7.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Mirum Pharmaceuticals's free cash flow?
Mirum Pharmaceuticals (MIRM) generated $54.9M in free cash flow during fiscal year 2025. This represents a 488.0% 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 Mirum Pharmaceuticals's operating cash flow?
Mirum Pharmaceuticals (MIRM) generated $55.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Mirum Pharmaceuticals's total assets?
Mirum Pharmaceuticals (MIRM) had $842.8M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Mirum Pharmaceuticals's capital expenditures?
Mirum Pharmaceuticals (MIRM) invested $954K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Mirum Pharmaceuticals spend on research and development?
Mirum Pharmaceuticals (MIRM) invested $186.2M in research and development during fiscal year 2025.
What is Mirum Pharmaceuticals's current ratio?
Mirum Pharmaceuticals (MIRM) had a current ratio of 2.67 as of fiscal year 2025, which is generally considered healthy.
What is Mirum Pharmaceuticals's debt-to-equity ratio?
Mirum Pharmaceuticals (MIRM) had a debt-to-equity ratio of 1.68 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Mirum Pharmaceuticals's return on assets (ROA)?
Mirum Pharmaceuticals (MIRM) had a return on assets of -2.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Mirum Pharmaceuticals's Altman Z-Score?
Mirum Pharmaceuticals (MIRM) has an Altman Z-Score of 6.64, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Mirum Pharmaceuticals's Piotroski F-Score?
Mirum Pharmaceuticals (MIRM) has a Piotroski F-Score of 4 out of 7 computable signals; 2 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 Mirum Pharmaceuticals's earnings high quality?
Mirum Pharmaceuticals (MIRM) reported a net loss of $23.4M while generating $55.8M 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 Mirum Pharmaceuticals cover its interest payments?
Mirum Pharmaceuticals (MIRM) reported an operating loss of $22.1M against $14.4M 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 Mirum Pharmaceuticals?
Mirum Pharmaceuticals (MIRM) scores 75 out of 100 on our Financial Health Score, indicating strong standing within its emerging companies peer group. The score is a 0-100 composite 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. 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.