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Rigel Pharmaceuticals Inc Financials

RIGL
FY2025 annual
Revenue $294.3M +64.1% YoY
Net Income $367.0M +1999.1% YoY
EPS (Diluted) $19.48 +1867.7% YoY
Free Cash Flow Not reported for FY2025
Source SEC Filings (10-K/10-Q) Data as of Jun 30, 2026 Currency USD FYE December

Rigel Pharmaceuticals Inc (RIGL) reported $294.3M in revenue for fiscal year 2025, up 64.1% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 15 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).

Rhea AI RIGL FY2025

FY2025 turned a cash-burning income statement into a high-margin operating model, but reported earnings were magnified by a tax benefit.

Net income of $367.0M sat far above operating income of $125.5M, which means FY2025’s headline profit was helped by accounting below the operating line rather than by core operations alone. Even so, operating cash flow improved from $31.5M in FY2024 to $75.7M in FY2025, so the turnaround is real in cash terms, just much smaller than the earnings figure implies.

With gross margin at 93.3% and R&D at $33.3M, added revenue is now flowing through a much lighter cost structure than in the loss years. That margin shape suggests the business is monetizing existing assets more efficiently, not merely trimming around the edges.

Debt-to-equity fell from 18.2x in FY2024 to 0.1x in FY2025, but that shift came mainly from equity expansion rather than major debt reduction. Cash still declined to $40.6M as investing outflows reached $92.4M, so the stronger balance sheet was used to fund asset growth instead of simply piling up cash.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 62 / 100
Financial Health Score 62/100

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 Rigel Pharmaceuticals Inc'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.

Profitability
64

Rigel Pharmaceuticals Inc has an operating margin of 42.6%, meaning the company retains $43 of operating profit per $100 of revenue. This results in a moderate score of 64/100, indicating healthy but not exceptional operating efficiency. This is up from 13.5% the prior year.

Growth
96

Rigel Pharmaceuticals Inc's revenue surged 64.1% year-over-year to $294.3M, reflecting rapid business expansion. This strong growth earns a score of 96/100.

Leverage
81

Rigel Pharmaceuticals Inc carries a low D/E ratio of 0.13, meaning only $0.13 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.

Liquidity
67

With a current ratio of 2.42, Rigel Pharmaceuticals Inc holds $2.42 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 67/100.

Cash Flow
0

Not available for Rigel Pharmaceuticals Inc, and counted as zero in the overall score.

Returns
62

Rigel Pharmaceuticals Inc's ROE of 93.8% shows moderate profitability relative to equity, earning a score of 62/100. This is down from 531.8% the prior year.

Altman Z-Score Safe
3.21

Rigel Pharmaceuticals Inc scores 3.21, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($873.3M) relative to total liabilities ($122.1M). 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.

Piotroski F-Score Neutral
6/9

Rigel Pharmaceuticals Inc passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Low Quality
0.21x

For every $1 of reported earnings, Rigel Pharmaceuticals Inc generates $0.21 in operating cash flow ($75.7M OCF vs $367.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage Safe
17.14x

Rigel Pharmaceuticals Inc earns $17.14 in operating income for every $1 of interest expense ($125.5M vs $7.3M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.

Key Financial Metrics

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Earnings & Revenue

Revenue
$294.3M
YoY+64.1%
5Y CAGR+22.1%

Rigel Pharmaceuticals Inc generated $294.3M in revenue in fiscal year 2025. This represents an increase of 64.1% from the prior year.

EBITDA
$127.9M
YoY+384.0%

Rigel Pharmaceuticals Inc's EBITDA was $127.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 384.0% from the prior year.

Net Income
$367.0M
YoY+1999.1%

Rigel Pharmaceuticals Inc reported $367.0M in net income in fiscal year 2025. This represents an increase of 1999.1% from the prior year.

EPS (Diluted)
$19.48
YoY+1867.7%

Rigel Pharmaceuticals Inc earned $19.48 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1867.7% from the prior year.

Cash & Balance Sheet

Cash & Debt
$40.6M
YoY-28.5%
5Y CAGR+6.0%
10Y CAGR-0.7%

Rigel Pharmaceuticals Inc held $40.6M in cash against $52.5M in long-term debt as of fiscal year 2025.

Shares Outstanding
18M
YoY+3.4%

Rigel Pharmaceuticals Inc had 18M shares outstanding in fiscal year 2025. This represents an increase of 3.4% from the prior year.

Free Cash Flow

Not reported for fiscal year 2025.

Dividends Per Share

Not reported for fiscal year 2025.

Margins & Returns

Gross Margin
93.3%
YoY+3.7pp
5Y CAGR-5.8pp

Rigel Pharmaceuticals Inc's gross margin was 93.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 3.7 percentage points from the prior year.

Operating Margin
42.6%
YoY+29.1pp
5Y CAGR+69.3pp

Rigel Pharmaceuticals Inc's operating margin was 42.6% in fiscal year 2025, reflecting core business profitability. This is up 29.1 percentage points from the prior year.

Return on Equity
93.8%
YoY-438.0pp

Rigel Pharmaceuticals Inc's ROE was 93.8% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 438.0 percentage points from the prior year.

Net Margin

Not shown for fiscal year 2025: the reported ratio is above 100.0% of revenue, so it does not read as a share of revenue.

Capital Allocation

R&D Spending
$33.3M
YoY+42.4%
5Y CAGR-11.1%
10Y CAGR-6.2%

Rigel Pharmaceuticals Inc invested $33.3M in research and development in fiscal year 2025. This represents an increase of 42.4% from the prior year.

Share Buybacks

Not reported for fiscal year 2025.

Capital Expenditures

Not reported for fiscal year 2025.

RIGL Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RIGL annual income statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Revenue$276.8M$294.3M+64.1%$179.3M+53.4%$116.9M-2.8%$120.2M-19.4%$149.2M+37.4%$108.6M+83.2%$59.3M+33.2%$44.5M+892.6%$4.5M-78.0%$20.4MN/AN/AN/AN/AN/A
Cost of Revenue$23.8M$19.6M+5.2%$18.6M+162.3%$7.1M+306.5%$1.7M+61.5%$1.1M+21.0%$895K-1.2%$906K+215.7%$287KN/AN/AN/AN/AN/AN/AN/A
Gross Profit$252.9M$274.7M+71.0%$160.6M+46.3%$109.8M-7.4%$118.5M-20.0%$148.2M+37.5%$107.7M+84.5%$58.4M+32.0%$44.2MN/AN/AN/AN/AN/AN/AN/A
R&D Expenses$43.7M$33.3M+42.4%$23.4M-4.7%$24.5M-59.3%$60.3M-7.6%$65.2M+8.5%$60.1M+13.6%$52.9M+12.8%$46.9M+1.4%$46.3M-27.1%$63.4M+1.0%$62.8M-7.2%$67.7M-10.1%$75.3M-4.4%$78.8M+13.6%$69.3M
SG&A Expenses$122.2M$115.9M+2.5%$113.1M+6.9%$105.7M-6.0%$112.5M+22.4%$91.9M+20.0%$76.6M+2.7%$74.6M+6.6%$70.0M+85.0%$37.8M+80.9%$20.9M+17.4%$17.8M-20.8%$22.5M+14.7%$19.6M-14.2%$22.8M+5.0%$21.8M
Operating Income$87.0M$125.5M+418.6%$24.2M+218.1%-$20.5M+63.1%-$55.5M-344.5%-$12.5M+56.9%-$29.0M+58.1%-$69.1M+4.9%-$72.7M+8.7%-$79.6M-14.2%-$69.7M-34.8%-$51.7M+43.3%-$91.2M-2.0%-$89.5M+10.0%-$99.4M-15.1%-$86.4M
Interest Expense$5.8M$7.3M-7.6%$7.9M+15.2%$6.9M+85.4%$3.7M-23.7%$4.9M+259.2%$1.4M+303.9%$335KN/AN/AN/AN/AN/AN/AN/A$25K
Income Tax-$236.3M-$245.2M-27931.7%$881K$0N/A$605KN/AN/A$0$0$0$0$0$0N/AN/A
Net Income$321.9M$367.0M+1999.1%$17.5M+169.7%-$25.1M+57.2%-$58.6M-227.0%-$17.9M+39.8%-$29.7M+55.5%-$66.9M+5.1%-$70.5M+9.6%-$78.0M-12.7%-$69.2M-34.5%-$51.5M+43.4%-$90.9M-2.1%-$89.0M+9.9%-$98.8M-15.0%-$86.0M
EPS (Diluted)$19.48+1867.7%$0.99+168.7%-$1.44-$3.44-$0.11+38.9%-$0.18+55.0%-$0.40N/AN/AN/AN/AN/AN/A-$1.32+2.9%-$1.36

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.

RIGL Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RIGL annual balance sheet
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Total Assets$513.6M+213.2%$164.0M+39.9%$117.2M-12.7%$134.3M-19.8%$167.3M+51.6%$110.4M-25.2%$147.6M+6.1%$139.1M+16.8%$119.1M+52.4%$78.1M-40.7%$131.7M-14.5%$154.1M-31.8%$226.1M-27.1%$310.0M+20.6%$257.1M
Current Assets$240.2M+77.8%$135.1M+36.1%$99.3M-14.4%$115.9M-25.0%$154.5M+73.6%$89.0M-25.2%$119.0M-13.1%$137.0M+16.7%$117.4M+54.1%$76.2M-40.9%$129.0M-14.3%$150.5M-31.6%$220.1M-27.2%$302.5M+20.9%$250.2M
Cash & Equivalents$40.6M-28.5%$56.7M+73.1%$32.8M+34.0%$24.5M+29.5%$18.9M-37.8%$30.4M+34.9%$22.5M-70.5%$76.3M+99.3%$38.3M+117.2%$17.6M-59.4%$43.5M+185.8%$15.2M-27.1%$20.9M-37.7%$33.5M+79.7%$18.6M
Inventory$11.5M+91.7%$6.0M+8.7%$5.5M-39.4%$9.1M+37.8%$6.6M+303.9%$1.6M+21.0%$1.4M+51.5%$894KN/AN/AN/AN/AN/AN/AN/A
Accounts Receivable$51.8M+24.4%$41.6M+36.2%$30.6M-24.2%$40.3M+160.6%$15.5M-3.1%$16.0M+58.0%$10.1M+148.0%$4.1M$0$0-100.0%$203K-96.5%$5.8M0.0%$5.8MN/AN/A
Total Liabilities$122.1M-24.0%$160.7M+10.2%$145.9M-1.4%$147.9M+8.0%$137.0M+79.4%$76.4M-18.6%$93.8M+220.7%$29.2M+58.3%$18.5M-20.1%$23.1M-42.8%$40.4M+55.9%$25.9M+45.4%$17.8M-15.0%$20.9M0.0%$21.0M
Current Liabilities$99.2M+56.8%$63.3M+18.8%$53.3M-18.3%$65.2M+2.6%$63.6M+55.6%$40.8M-29.8%$58.2M+109.9%$27.7M+51.2%$18.3M-18.8%$22.6M-33.2%$33.8M+141.0%$14.0M+36.2%$10.3M-15.7%$12.2M+5.9%$11.5M
Long-Term Debt$52.5M-12.5%$60.0M0.0%$60.0M+50.0%$40.0M+100.0%$20.0M0.0%$20.0M+100.0%$10.0MN/AN/AN/AN/AN/AN/AN/AN/A
Total Equity$391.5M+11806.3%$3.3M+111.5%-$28.6M-110.4%-$13.6M-144.8%$30.4M-10.7%$34.0M-36.8%$53.8M-51.0%$109.9M+9.2%$100.6M+82.9%$55.0M-39.8%$91.4M-28.7%$128.2M-38.4%$208.3M-28.0%$289.1M+22.4%$236.1M
Retained Earnings-$1.0B+26.4%-$1.4B+1.2%-$1.4B-1.8%-$1.4B-4.4%-$1.3B-1.4%-$1.3B-2.3%-$1.3B-5.5%-$1.2B-6.2%-$1.1B-7.4%-$1.1B-7.0%-$991.6M-5.5%-$940.2M-10.7%-$849.3M-11.7%-$760.2M-14.9%-$661.4M

Not reported in any period shown, so not listed: Goodwill.

RIGL Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

RIGL annual cash flow statement
MetricTTMFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Operating Cash Flow$79.4M$75.7M+140.4%$31.5M+648.0%-$5.7M+92.2%-$73.8M-1354.8%$5.9M+111.3%-$52.2M-25.7%-$41.5M+29.4%-$58.8M+24.2%-$77.6M-2.2%-$75.9M-224.1%-$23.4M+66.4%-$69.8M+19.0%-$86.1M-1.0%-$85.2M-22.8%-$69.4M
Capital ExpendituresN/AN/AN/AN/A$450K-28.2%$627K-50.3%$1.3M-13.3%$1.5M+31.6%$1.1M+574.4%$164K-79.6%$804K+47.3%$546K+32.2%$413K-66.2%$1.2M-63.8%$3.4M+46.6%$2.3M
Free Cash FlowN/AN/AN/AN/A-$74.2M-1513.2%$5.3M+109.8%-$53.4M-24.4%-$43.0M+28.3%-$59.9M+22.9%-$77.7M-1.3%-$76.7M-220.1%-$24.0M+65.9%-$70.2M+19.6%-$87.3M+1.5%-$88.6M-23.6%-$71.7M
Investing Cash Flow-$49.1M-$92.4M-2336.4%$4.1M+196.1%-$4.3M-105.9%$72.8M+190.9%-$80.0M-268.6%$47.5M+300.7%-$23.7M-194.8%$25.0M+228.2%-$19.5M-178.3%$24.9M-44.2%$44.6MN/AN/AN/AN/A
Financing Cash Flow-$22.9M$601K+105.2%-$11.6M-163.4%$18.4M+180.4%$6.5M-89.5%$62.7M+398.6%$12.6M+10.6%$11.4M-84.2%$71.9M-38.9%$117.7M+367.3%$25.2M+257.1%$7.1MN/AN/AN/AN/A

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.

RIGL Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

RIGL annual financial ratios
MetricFY25FY24FY23FY22FY21FY20FY19FY18FY17FY16FY15FY14FY13FY12FY11
Gross Margin93.3%+3.7pp89.6%-4.3pp93.9%-4.6pp98.6%-0.7pp99.3%+0.1pp99.2%+0.7pp98.5%-0.9pp99.4%N/AN/AN/AN/AN/AN/AN/A
Operating Margin42.6%+29.1pp13.5%+31.0pp-17.5%+28.7pp-46.2%-37.8pp-8.4%+18.3pp-26.7%-116.5%-163.3%-1775.6%-342.1%N/AN/AN/AN/AN/A
Net Margin124.7%9.8%+31.2pp-21.5%+27.2pp-48.7%-36.7pp-12.0%+15.4pp-27.4%-112.8%-158.3%-1739.3%-339.6%N/AN/AN/AN/AN/A
Return on Equity93.8%-438.0pp531.8%N/AN/A-59.0%+28.4pp-87.4%+36.9pp-124.3%-60.2pp-64.1%+13.4pp-77.5%+48.3pp-125.8%-69.5pp-56.3%+14.6pp-70.9%-28.1pp-42.8%-8.6pp-34.2%+2.2pp-36.4%
Return on Assets71.5%+60.8pp10.7%+32.1pp-21.4%+22.2pp-43.6%-32.9pp-10.7%+16.2pp-27.0%+18.4pp-45.3%+5.3pp-50.7%+14.8pp-65.5%+23.1pp-88.6%-49.5pp-39.1%+19.9pp-59.0%-19.6pp-39.4%-7.5pp-31.9%+1.6pp-33.4%
Current Ratio2.42+0.3x2.13+0.3x1.86+0.1x1.78-0.7x2.43+0.3x2.18+0.1x2.04-2.9x4.94-1.5x6.40+3.0x3.37-0.4x3.82-6.9x10.73-10.6x21.38-3.4x24.78+3.1x21.71
Debt-to-Equity0.13-18.1x18.25N/AN/A0.66+0.1x0.59+0.4x0.19-0.1x0.27+0.1x0.18-0.2x0.420.0x0.44+0.2x0.20+0.1x0.090.0x0.070.0x0.09
FCF MarginN/AN/AN/A-61.7%-65.2pp3.5%+52.7pp-49.2%+23.3pp-72.5%-134.7%-1733.3%-376.3%N/AN/AN/AN/AN/A

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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Frequently Asked Questions

What is Rigel Pharmaceuticals Inc's annual revenue?

Rigel Pharmaceuticals Inc (RIGL) reported $294.3M in total revenue for fiscal year 2025. This represents a 64.1% 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 Rigel Pharmaceuticals Inc's revenue growing?

Rigel Pharmaceuticals Inc (RIGL) revenue grew by 64.1% year-over-year, from $179.3M to $294.3M in fiscal year 2025.

Is Rigel Pharmaceuticals Inc profitable?

Yes, Rigel Pharmaceuticals Inc (RIGL) reported a net income of $367.0M in fiscal year 2025.

Rigel Pharmaceuticals Inc (RIGL) reported diluted earnings per share of $19.48 for fiscal year 2025. This represents a 1867.7% 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.

Rigel Pharmaceuticals Inc (RIGL) had EBITDA of $127.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Rigel Pharmaceuticals Inc (RIGL) had $40.6M in cash and equivalents against $52.5M in long-term debt.

Rigel Pharmaceuticals Inc (RIGL) had a gross margin of 93.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Rigel Pharmaceuticals Inc (RIGL) had an operating margin of 42.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Rigel Pharmaceuticals Inc (RIGL) has a return on equity of 93.8% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Rigel Pharmaceuticals Inc (RIGL) generated $75.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Rigel Pharmaceuticals Inc (RIGL) had $513.6M in total assets as of fiscal year 2025, including both current and long-term assets.

Rigel Pharmaceuticals Inc (RIGL) invested $33.3M in research and development during fiscal year 2025.

Rigel Pharmaceuticals Inc (RIGL) had 18M shares outstanding as of fiscal year 2025.

Rigel Pharmaceuticals Inc (RIGL) had a current ratio of 2.42 as of fiscal year 2025, which is generally considered healthy.

Rigel Pharmaceuticals Inc (RIGL) had a debt-to-equity ratio of 0.13 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Rigel Pharmaceuticals Inc (RIGL) had a return on assets of 71.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Rigel Pharmaceuticals Inc (RIGL) has an Altman Z-Score of 3.21, 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.

Rigel Pharmaceuticals Inc (RIGL) has a Piotroski F-Score of 6 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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Rigel Pharmaceuticals Inc (RIGL) has an earnings quality ratio of 0.21x, 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.

Rigel Pharmaceuticals Inc (RIGL) has an interest coverage ratio of 17.14x, meaning it can comfortably cover its interest obligations. 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.

Rigel Pharmaceuticals Inc (RIGL) scores 62 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.

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