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Neurocrine Biosciences Inc Financials

NBIX
Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Neurocrine Biosciences Inc (NBIX) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 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

Profitability Growth Leverage Liquidity Cash Flow Returns 72 / 100
Financial Profile 72/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
70

Neurocrine Biosciences Inc has an operating margin of 21.6%, meaning the company retains $22 of operating profit per $100 of revenue. This strong profitability earns a score of 70/100, reflecting efficient cost management and pricing power. This is down from 24.2% the prior year.

Growth
69

Neurocrine Biosciences Inc's revenue surged 21.4% year-over-year to $2.9B, reflecting rapid business expansion. This strong growth earns a score of 69/100.

Leverage
93

Neurocrine Biosciences Inc carries a low D/E ratio of 0.42, meaning only $0.42 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 93/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
66

With a current ratio of 3.39, Neurocrine Biosciences Inc holds $3.39 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 66/100.

Cash Flow
90

Neurocrine Biosciences Inc converts 26.2% of revenue into free cash flow ($748.7M). This strong cash generation earns a score of 90/100.

Returns
44

Neurocrine Biosciences Inc's ROE of 14.7% shows moderate profitability relative to equity, earning a score of 44/100. This is up from 13.2% the prior year.

Altman Z-Score Safe
7.45

Neurocrine Biosciences Inc scores 7.45, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($13.3B) relative to total liabilities ($1.4B). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Piotroski F-Score Neutral
4/9

Neurocrine Biosciences Inc passes 4 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Cash-Backed
1.64x

For every $1 of reported earnings, Neurocrine Biosciences Inc generates $1.64 in operating cash flow ($782.7M OCF vs $478.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue
$2.9B
YoY+21.4%
5Y CAGR+22.3%
10Y CAGR+64.5%

Neurocrine Biosciences Inc generated $2.9B in revenue in fiscal year 2025. This represents an increase of 21.4% from the prior year.

EBITDA
$649.2M
YoY+8.6%
5Y CAGR+30.5%

Neurocrine Biosciences Inc's EBITDA was $649.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 8.6% from the prior year.

Net Income
$478.6M
YoY+40.2%
5Y CAGR+3.3%

Neurocrine Biosciences Inc reported $478.6M in net income in fiscal year 2025. This represents an increase of 40.2% from the prior year.

EPS (Diluted)
$4.67
YoY+41.9%
5Y CAGR+2.3%

Neurocrine Biosciences Inc earned $4.67 per diluted share (EPS) in fiscal year 2025. This represents an increase of 41.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$748.7M
YoY+34.4%
5Y CAGR+28.0%

Neurocrine Biosciences Inc generated $748.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 34.4% from the prior year.

Cash & Debt
$713.0M
YoY+206.0%
5Y CAGR+30.7%
10Y CAGR+25.4%

Neurocrine Biosciences Inc held $713.0M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
100M
YoY+0.7%
5Y CAGR+1.3%
10Y CAGR+1.5%

Neurocrine Biosciences Inc had 100M shares outstanding in fiscal year 2025. This represents an increase of 0.7% from the prior year.

Margins & Returns

Gross Margin
98.2%
YoY-0.4pp
5Y CAGR-0.8pp
10Y CAGR-1.8pp

Neurocrine Biosciences Inc's gross margin was 98.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.

Operating Margin
21.6%
YoY-2.6pp
5Y CAGR+6.1pp
10Y CAGR+498.2pp

Neurocrine Biosciences Inc's operating margin was 21.6% in fiscal year 2025, reflecting core business profitability. This is down 2.6 percentage points from the prior year.

Net Margin
16.7%
YoY+2.2pp
5Y CAGR-22.2pp
10Y CAGR+466.6pp

Neurocrine Biosciences Inc's net profit margin was 16.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.2 percentage points from the prior year.

Return on Equity
14.7%
YoY+1.5pp
5Y CAGR-21.5pp
10Y CAGR+35.7pp

Neurocrine Biosciences Inc's ROE was 14.7% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 1.5 percentage points from the prior year.

Capital Allocation

R&D Spending
$1.0B
YoY+38.9%
5Y CAGR+29.9%
10Y CAGR+28.7%

Neurocrine Biosciences Inc invested $1.0B in research and development in fiscal year 2025. This represents an increase of 38.9% from the prior year.

Share Buybacks
$167.7M
YoY-44.1%

Neurocrine Biosciences Inc spent $167.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents a decrease of 44.1% from the prior year.

Capital Expenditures
$34.0M
YoY-11.0%
5Y CAGR+25.5%
10Y CAGR+33.2%

Neurocrine Biosciences Inc invested $34.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 11.0% from the prior year.

NBIX Income Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Revenue $805.5M+1.3% $794.9M+15.6% $687.5M+20.1% $572.6M-8.8% $627.7M+0.9% $622.1M+5.4% $590.2M+14.5% $515.3M
Cost of Revenue $17.6M+25.7% $14.0M+23.9% $11.3M+22.8% $9.2M-1.1% $9.3M+16.3% $8.0M-13.0% $9.2M+22.7% $7.5M
Gross Profit $787.9M+0.9% $780.9M+15.5% $676.2M+20.0% $563.4M-8.9% $618.4M+0.7% $614.1M+5.7% $581.0M+14.4% $507.8M
R&D Expenses $258.2M+3.3% $250.0M+2.3% $244.3M-7.2% $263.2M+41.8% $185.6M-4.8% $195.0M+2.0% $191.1M+19.9% $159.4M
SG&A Expenses $301.8M+3.5% $291.6M+1.9% $286.3M+3.5% $276.5M-3.9% $287.8M+22.8% $234.3M-3.2% $242.0M-0.5% $243.1M
Operating Income $210.9M-11.8% $239.0M+64.1% $145.6M+516.9% $23.6M-83.4% $142.0M-22.7% $183.8M+26.4% $145.4M+46.4% $99.3M
Interest Expense N/A N/A N/A N/A N/A N/A N/A $1.1M
Income Tax $85.7M+4.1% $82.3M+58.3% $52.0M+664.7% $6.8M-88.6% $59.5M-1.7% $60.5M+80.1% $33.6M+477.5% -$8.9M
Net Income $153.7M-26.6% $209.5M+94.9% $107.5M+1260.8% $7.9M-92.3% $103.1M-20.6% $129.8M+99.7% $65.0M+49.8% $43.4M
EPS (Diluted) N/A $2.04+92.5% $1.06+1225.0% $0.08 N/A $1.24+96.8% $0.63+50.0% $0.42

NBIX Balance Sheet

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Total Assets $4.6B+8.6% $4.3B+9.7% $3.9B+5.5% $3.7B-0.8% $3.7B+5.2% $3.5B+7.0% $3.3B-4.8% $3.5B
Current Assets $2.5B+16.9% $2.2B+23.4% $1.7B+6.8% $1.6B-5.0% $1.7B-8.1% $1.9B+12.4% $1.7B-7.2% $1.8B
Cash & Equivalents $713.0M+109.6% $340.2M+28.9% $264.0M+36.0% $194.1M-16.7% $233.0M-33.3% $349.1M+149.9% $139.7M-64.7% $396.3M
Inventory $69.0M-0.4% $69.3M+21.8% $56.9M-3.7% $59.1M+3.0% $57.4M+25.3% $45.8M+7.8% $42.5M+14.2% $37.2M
Accounts Receivable $686.8M-5.7% $728.0M+22.2% $595.7M+15.4% $516.0M+7.7% $479.1M-0.4% $481.1M+2.8% $468.2M+3.9% $450.7M
Goodwill N/A N/A N/A N/A $5.7M-6.6% $6.1M+7.0% $5.7M0.0% $5.7M
Total Liabilities $1.4B+9.2% $1.3B+5.6% $1.2B+3.8% $1.2B+2.0% $1.1B+38.3% $816.1M+2.6% $795.8M-26.7% $1.1B
Current Liabilities $743.4M+16.5% $638.0M+16.8% $546.3M+4.5% $522.9M+3.0% $507.7M+18.2% $429.7M+7.8% $398.5M-44.1% $712.9M
Long-Term Debt N/A N/A N/A N/A N/A N/A N/A N/A
Total Equity $3.3B+8.3% $3.0B+11.5% $2.7B+6.3% $2.5B-2.1% $2.6B-4.8% $2.7B+8.4% $2.5B+5.2% $2.4B
Retained Earnings $447.7M+52.3% $294.0M+247.9% $84.5M+1694.3% -$5.3M-118.2% $29.2M-64.0% $81.1M+266.5% -$48.7M+57.2% -$113.7M

NBIX Cash Flow Statement

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Operating Cash Flow $388.4M+70.7% $227.5M+123.0% $102.0M+57.4% $64.8M-73.3% $242.5M+53.5% $158.0M+144.6% $64.6M-50.4% $130.3M
Capital Expenditures -$2.4M-118.2% $13.2M+5.6% $12.5M+16.8% $10.7M+46.6% $7.3M-9.9% $8.1M-30.2% $11.6M+3.6% $11.2M
Free Cash Flow $386.0M+80.1% $214.3M+139.4% $89.5M+65.4% $54.1M-77.0% $235.2M+56.9% $149.9M+182.8% $53.0M-55.5% $119.1M
Investing Cash Flow -$52.9M+73.1% -$196.7M-578.3% -$29.0M-304.2% $14.2M+120.8% -$68.3M-376.5% $24.7M+187.6% -$28.2M+48.7% -$55.0M
Financing Cash Flow $37.3M-18.2% $45.6M+1481.8% -$3.3M+97.2% -$117.9M+59.3% -$290.0M-1198.5% $26.4M+109.0% -$293.0M-519.2% $69.9M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks $0 $0-100.0% $17.7M-88.2% $150.0M-50.0% $300.0M $0 $0 $0

NBIX Financial Ratios

Metric Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24
Gross Margin 97.8%-0.4pp 98.2%-0.1pp 98.4%-0.0pp 98.4%-0.1pp 98.5%-0.2pp 98.7%+0.3pp 98.4%-0.1pp 98.5%
Operating Margin 26.2%-3.9pp 30.1%+8.9pp 21.2%+17.1pp 4.1%-18.5pp 22.6%-6.9pp 29.5%+4.9pp 24.6%+5.4pp 19.3%
Net Margin 19.1%-7.3pp 26.4%+10.7pp 15.6%+14.3pp 1.4%-15.0pp 16.4%-4.4pp 20.9%+9.8pp 11.0%+2.6pp 8.4%
Return on Equity 4.7%-2.3pp 7.0%+3.0pp 4.0%+3.7pp 0.3%-3.7pp 4.0%-0.8pp 4.8%+2.2pp 2.6%+0.8pp 1.8%
Return on Assets 3.3%-1.6pp 4.9%+2.1pp 2.8%+2.5pp 0.2%-2.6pp 2.8%-0.9pp 3.7%+1.7pp 2.0%+0.7pp 1.3%
Current Ratio 3.39+0.0 3.38+0.2 3.20+0.1 3.13-0.3 3.40-1.0 4.37+0.2 4.19+1.7 2.52
Debt-to-Equity 0.420.0 0.42-0.0 0.44-0.0 0.45+0.0 0.44+0.1 0.30-0.0 0.32-0.1 0.46
FCF Margin 47.9%+21.0pp 27.0%+13.9pp 13.0%+3.6pp 9.4%-28.0pp 37.5%+13.4pp 24.1%+15.1pp 9.0%-14.1pp 23.1%

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Frequently Asked Questions

Neurocrine Biosciences Inc (NBIX) reported $2.9B in total revenue for fiscal year 2025. This represents a 21.4% 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.

Neurocrine Biosciences Inc (NBIX) revenue grew by 21.4% year-over-year, from $2.4B to $2.9B in fiscal year 2025.

Yes, Neurocrine Biosciences Inc (NBIX) reported a net income of $478.6M in fiscal year 2025, with a net profit margin of 16.7%.

Neurocrine Biosciences Inc (NBIX) reported diluted earnings per share of $4.67 for fiscal year 2025. This represents a 41.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Neurocrine Biosciences Inc (NBIX) had EBITDA of $649.2M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

Neurocrine Biosciences Inc (NBIX) had a gross margin of 98.2% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Neurocrine Biosciences Inc (NBIX) had an operating margin of 21.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Neurocrine Biosciences Inc (NBIX) had a net profit margin of 16.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Neurocrine Biosciences Inc (NBIX) has a return on equity of 14.7% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Neurocrine Biosciences Inc (NBIX) generated $748.7M in free cash flow during fiscal year 2025. This represents a 34.4% 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.

Neurocrine Biosciences Inc (NBIX) generated $782.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Neurocrine Biosciences Inc (NBIX) had $4.6B in total assets as of fiscal year 2025, including both current and long-term assets.

Neurocrine Biosciences Inc (NBIX) invested $34.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Neurocrine Biosciences Inc (NBIX) invested $1.0B in research and development during fiscal year 2025.

Yes, Neurocrine Biosciences Inc (NBIX) spent $167.7M on share buybacks during fiscal year 2025, returning capital to shareholders by reducing shares outstanding.

Neurocrine Biosciences Inc (NBIX) had 100M shares outstanding as of fiscal year 2025.

Neurocrine Biosciences Inc (NBIX) had a current ratio of 3.39 as of fiscal year 2025, which is generally considered healthy.

Neurocrine Biosciences Inc (NBIX) had a debt-to-equity ratio of 0.42 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Neurocrine Biosciences Inc (NBIX) had a return on assets of 10.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Neurocrine Biosciences Inc (NBIX) has an Altman Z-Score of 7.45, 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.

Neurocrine Biosciences Inc (NBIX) has a Piotroski F-Score of 4 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 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Neurocrine Biosciences Inc (NBIX) has an earnings quality ratio of 1.64x, considered cash-backed (high quality). 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.

Neurocrine Biosciences Inc (NBIX) scores 72 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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