Pharming Group N.V. Financials

PHAR

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2024 Currency USD FYE December

This page shows Pharming Group N.V. (PHAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 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

Financial Profile 72/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Pharming Group N.V.'s revenue surged 21.1% year-over-year to $297.2M, reflecting rapid business expansion. This strong growth earns a score of 89/100.

Leverage

100

Pharming Group N.V. carries a low D/E ratio of 0.12, meaning only $0.12 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 3.77, Pharming Group N.V. holds $3.77 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Pharming Group N.V. generated -$1.8M in operating cash flow, capex of $790K consumed most of it, leaving -$2.6M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Piotroski F-Score Weak

2/9

Pharming Group N.V. passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality

0.15x

For every $1 of reported earnings, Pharming Group N.V. generates $0.15 in operating cash flow (-$1.8M OCF vs -$11.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Revenue

$297.2M

YoY+21.1%

5Y CAGR+9.4%

Pharming Group N.V. generated $297.2M in revenue in fiscal year 2024. This represents an increase of 21.1% from the prior year.

EBITDA

N/A

Free Cash Flow

-$2.6M

YoY+86.2%

Pharming Group N.V. generated -$2.6M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 86.2% from the prior year.

Net Income

-$11.8M

YoY-12.3%

Pharming Group N.V. reported -$11.8M in net income in fiscal year 2024. This represents a decrease of 12.3% from the prior year.

EPS (Diluted)

N/A

Cash & Debt

$54.9M

YoY-11.0%

5Y CAGR-5.9%

Pharming Group N.V. held $54.9M in cash against $27.0M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

680M

YoY+1.4%

Pharming Group N.V. had 680M shares outstanding in fiscal year 2024. This represents an increase of 1.4% from the prior year.

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-4.0%

YoY+0.3pp

5Y CAGR-25.4pp

Pharming Group N.V.'s net profit margin was -4.0% in fiscal year 2024, showing the share of revenue converted to profit. This is up 0.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$790K

YoY-45.0%

5Y CAGR-21.5%

Pharming Group N.V. invested $790K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 45.0% from the prior year.

PHAR Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$297.2M+21.1%	$245.3M+19.3%	$205.6M+3.4%	$198.9M-6.3%	$212.2M+12.0%	$189.4M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.0M-4.6%	$1.1M+74.9%	$622K-21.8%	$795K+3.8%	$766K+3.2%	$742K
Income Tax	$3.3M+328.8%	-$1.5M-211.5%	$1.3M-81.5%	$7.1M+11.6%	$6.3M-46.0%	$11.7M
Net Income	-$11.8M-12.3%	-$10.5M-177.1%	$13.7M-14.5%	$16.0M-57.6%	$37.7M-6.9%	$40.6M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

PHAR Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$400.0M-13.6%	$462.9M+8.7%	$425.8M+7.2%	$397.3M-5.1%	$418.5M+63.5%	$255.9M
Current Assets	$278.4M-12.0%	$316.3M+14.0%	$277.5M+11.2%	$249.4M-5.2%	$263.2M+120.4%	$119.4M
Cash & Equivalents	$54.9M-11.0%	$61.7M-70.2%	$207.3M+8.0%	$191.9M-6.5%	$205.2M+175.9%	$74.3M
Inventory	$55.7M-1.8%	$56.8M+34.1%	$42.3M+55.0%	$27.3M+29.1%	$21.2M+30.4%	$16.2M
Accounts Receivable	$54.8M+18.8%	$46.2M+67.1%	$27.6M-7.9%	$30.0M-16.5%	$35.9M+24.4%	$28.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$178.9M-26.7%	$244.1M+10.4%	$221.2M+8.2%	$204.4M-13.0%	$235.0M+69.7%	$138.5M
Current Liabilities	$73.8M-5.3%	$78.0M+30.6%	$59.7M+27.6%	$46.8M-39.1%	$76.8M-32.7%	$114.3M
Long-Term Debt	$27.0M-8.6%	$29.5M-1.1%	$29.8M+61.7%	$18.5M+124.3%	$8.2M+68.2%	$4.9M
Total Equity	$221.1M+1.0%	$218.8M+6.9%	$204.6M+6.1%	$192.9M+5.2%	$183.4M+56.3%	$117.4M
Retained Earnings	-$275.5M-3.9%	-$265.3M-3.4%	-$256.4M+6.1%	-$273.2M+7.6%	-$295.6M+13.2%	-$340.7M

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Total Assets	$400.0M-13.6%	$462.9M+8.7%	$425.8M+7.2%	$397.3M-5.1%	$418.5M+63.5%	$255.9M
Current Assets	$278.4M-12.0%	$316.3M+14.0%	$277.5M+11.2%	$249.4M-5.2%	$263.2M+120.4%	$119.4M
Cash & Equivalents	$54.9M-11.0%	$61.7M-70.2%	$207.3M+8.0%	$191.9M-6.5%	$205.2M+175.9%	$74.3M
Inventory	$55.7M-1.8%	$56.8M+34.1%	$42.3M+55.0%	$27.3M+29.1%	$21.2M+30.4%	$16.2M
Accounts Receivable	$54.8M+18.8%	$46.2M+67.1%	$27.6M-7.9%	$30.0M-16.5%	$35.9M+24.4%	$28.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$178.9M-26.7%	$244.1M+10.4%	$221.2M+8.2%	$204.4M-13.0%	$235.0M+69.7%	$138.5M
Current Liabilities	$73.8M-5.3%	$78.0M+30.6%	$59.7M+27.6%	$46.8M-39.1%	$76.8M-32.7%	$114.3M
Long-Term Debt	$27.0M-8.6%	$29.5M-1.1%	$29.8M+61.7%	$18.5M+124.3%	$8.2M+68.2%	$4.9M
Total Equity	$221.1M+1.0%	$218.8M+6.9%	$204.6M+6.1%	$192.9M+5.2%	$183.4M+56.3%	$117.4M
Retained Earnings	-$275.5M-3.9%	-$265.3M-3.4%	-$256.4M+6.1%	-$273.2M+7.6%	-$295.6M+13.2%	-$340.7M

PHAR Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	-$1.8M+89.6%	-$17.3M-177.0%	$22.5M-40.7%	$37.8M-54.7%	$83.6M+12.8%	$74.1M
Capital Expenditures	$790K-45.0%	$1.4M+4.4%	$1.4M-87.2%	$10.7M+130.6%	$4.7M+75.9%	$2.6M
Free Cash Flow	-$2.6M+86.2%	-$18.7M-188.9%	$21.1M-22.2%	$27.1M-65.7%	$79.0M+10.4%	$71.5M
Investing Cash Flow	$31.6M+124.4%	-$129.4M-2530.7%	$5.3M+125.0%	-$21.3M-36.3%	-$15.6M+44.7%	-$28.3M
Financing Cash Flow	-$34.4M-3212.0%	-$1.0M+79.1%	-$5.0M+82.2%	-$27.9M-146.1%	$60.7M+195.6%	-$63.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

PHAR Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-4.0%+0.3pp	-4.3%-10.9pp	6.7%-1.4pp	8.0%-9.8pp	17.8%-3.6pp	21.4%
Return on Equity	N/A	N/A	6.7%-1.6pp	8.3%-12.3pp	20.6%-14.0pp	34.5%
Return on Assets	-3.0%-0.7pp	-2.3%-5.5pp	3.2%-0.8pp	4.0%-5.0pp	9.0%-6.8pp	15.8%
Current Ratio	3.77-0.3	4.06-0.6	4.65-0.7	5.33+1.9	3.43+2.4	1.05
Debt-to-Equity	0.12-0.0	0.13-0.0	0.15+0.1	0.10+0.1	0.040.0	0.04
FCF Margin	-0.9%+6.8pp	-7.6%-17.9pp	10.3%-3.4pp	13.6%-23.6pp	37.2%-0.5pp	37.8%

Metric	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20	Q4'19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	3.77-0.3	4.06-0.6	4.65-0.7	5.33+1.9	3.43+2.4	1.05
Debt-to-Equity	0.12-0.0	0.13-0.0	0.15+0.1	0.10+0.1	0.040.0	0.04
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Pharming Group N.V.'s annual revenue?

Pharming Group N.V. (PHAR) reported $297.2M in total revenue for fiscal year 2024. This represents a 21.1% 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 Pharming Group N.V.'s revenue growing?

Pharming Group N.V. (PHAR) revenue grew by 21.1% year-over-year, from $245.3M to $297.2M in fiscal year 2024.

Is Pharming Group N.V. profitable?

No, Pharming Group N.V. (PHAR) reported a net income of -$11.8M in fiscal year 2024, with a net profit margin of -4.0%.

How much debt does Pharming Group N.V. have?

As of fiscal year 2024, Pharming Group N.V. (PHAR) had $54.9M in cash and equivalents against $27.0M in long-term debt.

What is Pharming Group N.V.'s net profit margin?

Pharming Group N.V. (PHAR) had a net profit margin of -4.0% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Pharming Group N.V.'s free cash flow?

Pharming Group N.V. (PHAR) generated -$2.6M in free cash flow during fiscal year 2024. This represents a 86.2% 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 Pharming Group N.V.'s operating cash flow?

Pharming Group N.V. (PHAR) generated -$1.8M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Pharming Group N.V.'s total assets?

Pharming Group N.V. (PHAR) had $400.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Pharming Group N.V.'s capital expenditures?

Pharming Group N.V. (PHAR) invested $790K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

How many shares does Pharming Group N.V. have outstanding?

Pharming Group N.V. (PHAR) had 680M shares outstanding as of fiscal year 2024.

What is Pharming Group N.V.'s current ratio?

Pharming Group N.V. (PHAR) had a current ratio of 3.77 as of fiscal year 2024, which is generally considered healthy.

What is Pharming Group N.V.'s debt-to-equity ratio?

Pharming Group N.V. (PHAR) had a debt-to-equity ratio of 0.12 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pharming Group N.V.'s return on assets (ROA)?

Pharming Group N.V. (PHAR) had a return on assets of -3.0% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Pharming Group N.V.'s cash runway?

Based on fiscal year 2024 data, Pharming Group N.V. (PHAR) had $54.9M in cash against an annual operating cash burn of $1.8M. This gives an estimated cash runway of approximately 367 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 Pharming Group N.V.'s Piotroski F-Score?

Pharming Group N.V. (PHAR) has a Piotroski F-Score of 2 out of 9, indicating weak 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.

Are Pharming Group N.V.'s earnings high quality?

Pharming Group N.V. (PHAR) has an earnings quality ratio of 0.15x, considered low quality (accrual-driven). 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 Pharming Group N.V.?

Pharming Group N.V. (PHAR) 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.