Ultragenyx Pharm 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 Sep 2, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 5, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the RARE SEC filings page.
Ultragenyx Pharm (RARE) reported $717.0M in revenue over the twelve months to Jun 30, 2026, up 17.5% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 14 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 is scaling, but research investment and financing inflows still define a loss-making, capital-dependent operating model
From FY2024 to FY2025, revenue reached$673M while the operating loss stayed near-$535M , indicating incremental sales largely absorbed higher operating investment rather than creating operating profit. Operating cash flow of-$466M was close to free cash flow of-$472M , showing that core operations—not capital spending—drive the cash requirement.
In FY2025, R&D exceeded revenue: the company spent
Balance-sheet financing has become central. FY2025 liabilities of
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 Ultragenyx Pharm'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.
Ultragenyx Pharm held $737.0M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $466.0M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Ultragenyx Pharm scores 43/100 among other emerging companies.
Ultragenyx Pharm had 97M shares outstanding at the end of fiscal year 2025, against 93M in fiscal year 2024. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Ultragenyx Pharm scores 49/100 among other emerging companies.
Ultragenyx Pharm spent $750.0M on research and development in fiscal year 2025, which was 62.1% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Ultragenyx Pharm scores 85/100 among other emerging companies.
Ultragenyx Pharm reported revenue of $673.0M in fiscal year 2025, against $560.0M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Ultragenyx Pharm scores 75/100 among other emerging companies.
Ultragenyx Pharm's operations used $466.0M of cash in fiscal year 2025, against $414.0M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Ultragenyx Pharm scores 43/100 among other emerging companies.
Ultragenyx Pharm's cash, cash equivalents and investments came to $737.0M at the end of fiscal year 2025, against $1.6B of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Ultragenyx Pharm scores 43/100 among other emerging companies.
Ultragenyx Pharm scores -3.46, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($2.5B) relative to total liabilities ($1.6B). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Ultragenyx Pharm passes 4 of 7 computable financial strength tests (2 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, both operating efficiency signals pass.
Ultragenyx Pharm reported a net loss of $575.0M while operations used $466.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Key Financial Metrics
Earnings & Revenue
Ultragenyx Pharm generated $214.0M in revenue in Q2 2026. This represents an increase of 28.1% from the same quarter a year earlier. Against the prior quarter it is up 57.4%.
Ultragenyx Pharm's EBITDA was -$67.0M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 32.3% from the same quarter a year earlier. Against the prior quarter it is up 58.4%.
Ultragenyx Pharm reported -$92.0M in net income in Q2 2026. This represents an increase of 20.0% from the same quarter a year earlier. Against the prior quarter it is up 50.3%.
Ultragenyx Pharm earned -$0.90 per diluted share (EPS) in Q2 2026. This represents an increase of 23.1% from the same quarter a year earlier. Against the prior quarter it is up 51.1%.
Cash & Balance Sheet
Ultragenyx Pharm recorded an outflow of $98.0M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents an increase of 12.5% from the same quarter a year earlier. Against the prior quarter it is up 50.5%.
Ultragenyx Pharm held $125.0M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Ultragenyx Pharm's operating margin was -35.0% in Q2 2026, reflecting core business profitability. This is up 29.6 percentage points from the same quarter a year earlier.
Ultragenyx Pharm's net profit margin was -43.0% in Q2 2026, showing the share of revenue converted to profit. This is up 25.9 percentage points from the same quarter a year earlier.
Not reported for Q2 2026.
Not reported for Q2 2026.
Capital Allocation
Ultragenyx Pharm invested $167.0M in research and development in Q2 2026. This represents an increase of 1.2% from the same quarter a year earlier. Against the prior quarter it is down 10.7%.
Ultragenyx Pharm invested $1.0M in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 66.7% from the same quarter a year earlier. It is unchanged from the prior quarter.
Not reported for Q2 2026.
RARE 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $214.0M+28.1% | $136.0M-2.2% | $207.1M+25.8% | $159.9M+14.7% | $167.0M+13.6% | $139.0M+27.7% | $164.6M+29.5% | $139.5M+42.3% |
| R&D Expenses | $167.0M+1.2% | $187.0M+12.7% | $202.8M+7.9% | $216.2M+27.1% | $165.0M+2.2% | $166.0M-7.0% | $187.9M+17.4% | $170.1M+8.2% |
| SG&A Expenses | $88.0M+1.1% | $88.0M+1.1% | $88.4M+7.9% | $86.6M+7.8% | $87.0M+7.9% | $87.0M+11.3% | $81.9M+6.3% | $80.4M+7.3% |
| Operating Income | -$75.0M+30.6% | -$169.0M-18.2% | -$113.1M+7.5% | -$170.9M-29.5% | -$108.0M+7.2% | -$143.0M+13.5% | -$122.3M-0.4% | -$132.0M+9.0% |
| EBITDA | -$67.0M+32.3% | -$161.0M-20.1% | -$104.3M+7.5% | -$162.7M-32.0% | -$99.0M+7.9% | -$134.0M+14.4% | -$112.8M+0.8% | -$123.2M+10.6% |
| Income Tax | $1.0M0.0% | $1.0M0.0% | $1.1M+193.5% | $873K+188.1% | $1.0M+16.6% | $1.0M+119.8% | $384K+109.9% | $303K-53.4% |
| Net Income | -$92.0M+20.0% | -$185.0M-22.5% | -$128.6M+3.5% | -$180.4M-35.1% | -$115.0M+12.6% | -$151.0M+11.5% | -$133.2M-7.8% | -$133.5M+16.4% |
| EPS (Diluted) | -$0.90+23.1% | -$1.84-17.2% | -$1.28+7.2% | -$1.81-29.3% | -$1.17+23.0% | -$1.57+22.7% | -$1.38+4.2% | -$1.40+37.2% |
Not reported in any period shown, so not listed: Cost of Revenue, Gross Profit, Interest Expense, EPS (Basic), Diluted Shares (Avg).
RARE 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B-3.2% | $1.3B-1.2% | $1.5B+1.9% | $1.2B-22.6% | $1.3B-19.3% | $1.3B+0.4% | $1.5B+0.8% | $1.5B+24.2% |
| Current Assets | $606.0M-15.8% | $657.0M-6.0% | $951.0M+16.4% | $643.2M-19.6% | $719.8M-25.4% | $699.2M+17.3% | $817.0M+11.6% | $799.6M+33.4% |
| Cash & Equivalents | $125.0M-29.0% | $175.0M+37.8% | $421.0M+142.0% | $202.5M+34.5% | $176.0M-63.4% | $127.0M+13.1% | $174.0M-18.7% | $150.6M+107.5% |
| Short-Term Investments | $167.0M-46.4% | $238.0M-35.2% | $259.0M-40.6% | $222.7M-52.7% | $311.3M+9.9% | $367.4M+22.5% | $436.0M+19.9% | $471.0M+27.5% |
| Inventory | $59.0M+26.9% | $55.0M+19.5% | $52.0M+15.6% | $52.2M+20.5% | $46.5M+15.8% | $46.0M+28.2% | $45.0M+32.5% | $43.3M+36.3% |
| Accounts Receivable | $200.0M+60.7% | $121.0M+22.4% | $158.0M+29.5% | $112.5M+20.6% | $124.5M+17.4% | $98.8M-1.4% | $122.0M+66.2% | $93.3M+17.7% |
| Long-Term Investments | $144.0M+179.9% | $121.0M+76.5% | $57.0M-57.8% | $22.1M-89.1% | $51.5M-53.5% | $68.6M-56.2% | $135.0M-32.5% | $203.1M+147.5% |
| Goodwill | $44.0M-0.9% | $44.0M-0.9% | $44.0M0.0% | $44.4M0.0% | $44.4M0.0% | $44.4M0.0% | $44.0M-0.9% | $44.4M0.0% |
| Total Liabilities | $1.5B+34.8% | $1.5B+31.4% | $1.6B+29.3% | $1.2B-0.9% | $1.1B-3.2% | $1.2B-0.5% | $1.2B+2.1% | $1.2B-1.8% |
| Current Liabilities | $351.0M+19.7% | $325.0M+11.4% | $384.0M+11.6% | $340.0M+19.3% | $293.2M+7.5% | $291.7M+18.8% | $344.0M+22.7% | $285.0M+12.2% |
| Total Equity | -$291.0M-292.7% | -$236.0M-263.9% | -$80.0M-131.4% | $9.2M-97.4% | $151.0M-65.1% | $144.0M+2.7% | $255.0M-7.3% | $346.8M+993.6% |
| Retained Earnings | -$4.8B-13.9% | -$4.7B-14.8% | -$4.5B-14.5% | -$4.4B-15.2% | -$4.2B-14.4% | -$4.1B-15.4% | -$4.0B-16.8% | -$3.8B-17.1% |
Not reported in any period shown, so not listed: Non-Current Liabilities, Long-Term Debt.
RARE 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$97.0M+11.0% | -$197.0M-18.7% | -$99.8M-25.9% | -$91.2M-36.1% | -$109.0M-41.6% | -$166.0M+13.0% | -$79.3M+5.7% | -$67.0M+43.2% |
| Depreciation & Amortization | $8.0M-11.1% | $8.0M-11.1% | $8.8M-7.9% | $8.2M-6.2% | $9.0M+1.6% | $9.0M+1.8% | $9.5M+16.1% | $8.8M+21.8% |
| Capital Expenditures | $1.0M-66.7% | $1.0M0.0% | $938K+475.5% | $1.1M-34.3% | $3.0M+49.3% | $1.0M-68.9% | $163K-87.8% | $1.6M-56.2% |
| Free Cash Flow | -$98.0M+12.5% | -$198.0M-18.6% | -$100.8M-26.8% | -$92.2M-34.4% | -$112.0M-41.8% | -$167.0M+13.9% | -$79.5M+7.0% | -$68.6M+43.6% |
| Investing Cash Flow | $44.0M-38.0% | -$49.0M-140.8% | -$72.2M-170.5% | $117.2M+142.6% | $71.0M+17.2% | $120.0M+27.1% | $102.5M+195.8% | -$275.5M-528.5% |
| Financing Cash Flow | N/A | N/A | $394.2M+13285.1% | -$192K-101.7% | $83.8M-78.2% | $157K+370.7% | $2.9M-99.1% | $11.2M-55.7% |
Not reported in any period shown, so not listed: Stock-Based Compensation, Dividends Paid, Share Buybacks.
RARE 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 | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Margin | -35.0%+29.6pp | -124.3% | -54.6%+19.7pp | -106.8% | -64.7%+14.5pp | -102.9% | -74.3%+21.6pp | -94.6% |
| Net Margin | -43.0%+25.9pp | -136.0% | -62.1%+18.8pp | -112.8% | -68.9%+20.7pp | -108.6% | -80.9%+16.3pp | -95.7% |
| Return on Equity | N/A | N/A | N/A | -1969.8%-1931.3pp | -76.2%-45.7pp | -104.9%+16.8pp | -52.2%-7.3pp | -38.5%+464.9pp |
| Return on Assets | -7.3%+1.5pp | -14.3%-2.8pp | -8.4%+0.5pp | -15.2%-6.5pp | -8.8%-0.7pp | -11.5%+1.6pp | -8.9%-0.6pp | -8.7%+4.2pp |
| Current Ratio | 1.73-0.7x | 2.02-0.4x | 2.48+0.1x | 1.89-0.9x | 2.45-1.1x | 2.400.0x | 2.38-0.2x | 2.81+0.4x |
| Debt-to-Equity | N/A | N/A | N/A | 128.21+124.8x | 7.60+4.9x | 8.06-0.3x | 4.87+0.4x | 3.42-34.6x |
| FCF Margin | -45.8%+21.3pp | -145.6% | -48.7%-0.4pp | -57.7%-8.5pp | -67.1%-13.4pp | -120.1% | -48.3%+18.9pp | -49.2% |
Not reported in any period shown, so not listed: Gross Margin, Asset Turnover.
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.
Note: Shareholder equity is negative (-$80.0M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
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 |
|---|---|---|---|---|---|---|
| Ultragenyx Pharm RARE | FY2025 | $673.0M | -$575.0M | -85.4% | $2.5B | 56/100 |
| Telix Pharmaceuticals Ltd ADR TLX | FY2025 | $803.8M | -$7.1M | -0.9% | $3.8B | 40/100 |
| Xenon Pharmaceut XENE | FY2025 | $7.5M | -$345.9M | N/A | $5.8B | 48/100 |
| Scholar Rock Holding SRRK | FY2025 | $0 | -$378.0M | N/A | $6.9B | — |
| Soleno Therapeutics Inc SLNO | FY2025 | $190.4M | $20.9M | 11.0% | $2.8B | 63/100 |
| NewAmsterdam Pharma Company N.V NAMS | FY2025 | $22.5M | -$203.0M | N/A | $3.0B | 67/100 |
Where Ultragenyx Pharm Ranks
Frequently Asked Questions
What is Ultragenyx Pharm's annual revenue?
Ultragenyx Pharm (RARE) reported $673.0M in total revenue for fiscal year 2025. This represents a 20.2% 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 Ultragenyx Pharm's revenue growing?
Ultragenyx Pharm (RARE) revenue grew by 20.2% year-over-year, from $560.0M to $673.0M in fiscal year 2025.
Is Ultragenyx Pharm profitable?
No, Ultragenyx Pharm (RARE) reported a net income of -$575.0M in fiscal year 2025, with a net profit margin of -85.4%.
What is Ultragenyx Pharm's EBITDA?
Ultragenyx Pharm (RARE) had EBITDA of -$500.0M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Ultragenyx Pharm's operating margin?
Ultragenyx Pharm (RARE) had an operating margin of -79.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Ultragenyx Pharm's net profit margin?
Ultragenyx Pharm (RARE) had a net profit margin of -85.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Ultragenyx Pharm's free cash flow?
Ultragenyx Pharm (RARE) recorded an outflow of $472.0M in free cash flow during fiscal year 2025. This represents a -12.1% 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 Ultragenyx Pharm's operating cash flow?
Ultragenyx Pharm (RARE) recorded an outflow of $466.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Ultragenyx Pharm's total assets?
Ultragenyx Pharm (RARE) had $1.5B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Ultragenyx Pharm's capital expenditures?
Ultragenyx Pharm (RARE) invested $6.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Ultragenyx Pharm spend on research and development?
Ultragenyx Pharm (RARE) invested $750.0M in research and development during fiscal year 2025.
What is Ultragenyx Pharm's current ratio?
Ultragenyx Pharm (RARE) had a current ratio of 2.48 as of fiscal year 2025, which is generally considered healthy.
What is Ultragenyx Pharm's return on assets (ROA)?
Ultragenyx Pharm (RARE) had a return on assets of -37.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Ultragenyx Pharm's P/E ratio?
Ultragenyx Pharm (RARE) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $2.5B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Ultragenyx Pharm's price-to-sales ratio?
Ultragenyx Pharm (RARE) trades at 3.5x sales, its market capitalization divided by revenue of $717.0M revenue, trailing 12 months to June 30, 2026. The market capitalization is $2.5B as of Sep 2, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Ultragenyx Pharm's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Ultragenyx Pharm (RARE) held $737.0M in cash, cash equivalents and investments, and reported an operating cash outflow of $466.0M over that year. Dividing the one by the other, the reported balance equals about 19 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is Ultragenyx Pharm's debt-to-equity ratio negative or not reported?
Ultragenyx Pharm (RARE) has negative shareholder equity of -$80.0M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is Ultragenyx Pharm's Altman Z-Score?
Ultragenyx Pharm (RARE) has an Altman Z-Score of -3.46, placing it in the Distress Zone (elevated 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 Ultragenyx Pharm's Piotroski F-Score?
Ultragenyx Pharm (RARE) 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 Ultragenyx Pharm's earnings high quality?
Ultragenyx Pharm (RARE) reported a net loss of $575.0M while operations used $466.0M 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 Ultragenyx Pharm?
Ultragenyx Pharm (RARE) scores 56 out of 100 on our Financial Health Score, indicating moderate 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.