Vanda Pharma Financials
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Vanda Pharma has an operating margin of 70.0%, meaning the company retains $70 of operating profit per $100 of revenue. This strong profitability earns a score of 100/100, reflecting efficient cost management and pricing power. This is up from -20.5% the prior year.
Vanda Pharma's revenue declined 99.9% year-over-year, from $198.8M to $216K. This contraction results in a growth score of 0/100.
Vanda Pharma carries a low D/E ratio of 0.49, meaning only $0.49 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.
With a current ratio of 2.39, Vanda Pharma holds $2.39 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 76/100.
Vanda Pharma converts 50.2% of revenue into free cash flow ($108K). This strong cash generation earns a score of 100/100.
Vanda Pharma earns a strong 67.4% return on equity (ROE), meaning it generates $67 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 100/100.
Vanda Pharma scores 1338.26, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($360.0M) relative to total liabilities ($162K). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.
Vanda Pharma passes 4 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Vanda Pharma generates $0.50 in operating cash flow ($109K OCF vs $220K net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
This page shows Vanda Pharma (VNDA) 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).
Key Financial Metrics
Vanda Pharma generated $216K in revenue in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Vanda Pharma's EBITDA was $161K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 100.5% from the prior year.
Vanda Pharma generated $108K in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 100.7% from the prior year.
Vanda Pharma reported $220K in net income in fiscal year 2025. This represents an increase of 101.2% from the prior year.
Vanda Pharma earned $3.74 per diluted share (EPS) in fiscal year 2025. This represents an increase of 1233.3% from the prior year.
Vanda Pharma held $85K in cash against $0 in long-term debt as of fiscal year 2025.
Vanda Pharma had 59M shares outstanding in fiscal year 2025. This represents an increase of 1.4% from the prior year.
Vanda Pharma's gross margin was 94.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 0.4 percentage points from the prior year.
Vanda Pharma's operating margin was 70.0% in fiscal year 2025, reflecting core business profitability. This is up 90.4 percentage points from the prior year.
Vanda Pharma's net profit margin was 102.0% in fiscal year 2025, showing the share of revenue converted to profit. This is up 111.5 percentage points from the prior year.
Vanda Pharma's ROE was 67.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Vanda Pharma invested $109K in research and development in fiscal year 2025. This represents a decrease of 99.9% from the prior year.
Vanda Pharma invested $998 in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 99.8% from the prior year.
VNDA Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $57.2M+1.7% | $56.3M+7.0% | $52.6M+5.1% | $50.0M-5.9% | $53.2M+11.6% | $47.7M-5.6% | $50.5M+6.3% | $47.5M |
| Cost of Revenue | $3.8M+29.8% | $3.0M+8.0% | $2.7M-22.3% | $3.5M+35.9% | $2.6M+1.5% | $2.6M-6.7% | $2.7M-20.6% | $3.4M |
| Gross Profit | $53.4M+0.1% | $53.3M+6.9% | $49.9M+7.2% | $46.5M-8.1% | $50.6M+12.2% | $45.1M-5.5% | $47.7M+8.4% | $44.0M |
| R&D Expenses | $29.0M+28.6% | $22.6M+2.6% | $22.0M-38.4% | $35.7M+80.0% | $19.8M+18.3% | $16.8M+0.7% | $16.7M-21.2% | $21.2M |
| SG&A Expenses | $63.0M+4.5% | $60.3M-6.7% | $64.6M+29.0% | $50.1M+27.5% | $39.3M+4.5% | $37.6M-4.8% | $39.5M+31.2% | $30.1M |
| Operating Income | -$40.4M-29.0% | -$31.3M+18.7% | -$38.5M+6.2% | -$41.0M-299.1% | -$10.3M+6.6% | -$11.0M-8.4% | -$10.1M-9.9% | -$9.2M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $103.2M+1877.8% | -$5.8M+24.4% | -$7.7M+2.5% | -$7.9M-396.8% | -$1.6M-72.3% | -$920K+7.8% | -$998K-92.7% | -$518K |
| Net Income | -$141.2M-525.1% | -$22.6M+17.0% | -$27.2M+7.8% | -$29.5M-500.4% | -$4.9M+7.7% | -$5.3M-17.8% | -$4.5M-9.0% | -$4.1M |
| EPS (Diluted) | $-2.40-531.6% | $-0.38+17.4% | $-0.46+8.0% | $-0.50-455.6% | $-0.090.0% | $-0.09-12.5% | $-0.08-14.3% | $-0.07 |
VNDA Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $488.9M-18.7% | $601.1M-3.8% | $624.7M-1.1% | $631.9M-3.7% | $656.2M+1.7% | $645.1M-1.0% | $651.4M-0.2% | $652.7M |
| Current Assets | $347.3M-5.5% | $367.5M-6.9% | $394.9M-3.2% | $407.9M-7.1% | $438.9M+1.5% | $432.4M-1.5% | $439.2M-0.1% | $439.4M |
| Cash & Equivalents | $84.9M+21.2% | $70.0M-13.5% | $81.0M-27.6% | $111.8M+9.3% | $102.3M+1.8% | $100.5M-2.4% | $103.0M-17.7% | $125.2M |
| Inventory | $1.9M-9.3% | $2.0M-5.9% | $2.2M+12.8% | $1.9M+11.4% | $1.7M+6.9% | $1.6M+9.9% | $1.5M-2.4% | $1.5M |
| Accounts Receivable | $54.6M+8.0% | $50.5M+12.3% | $45.0M+0.9% | $44.6M-5.3% | $47.1M+10.2% | $42.8M+2.1% | $41.9M+14.0% | $36.7M |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $161.8M+19.7% | $135.1M-2.4% | $138.4M+14.9% | $120.5M+2.4% | $117.7M+13.3% | $103.9M-4.6% | $108.9M+0.2% | $108.7M |
| Current Liabilities | $145.2M+23.2% | $117.9M-3.0% | $121.5M+16.9% | $103.9M+3.9% | $100.0M+12.2% | $89.1M-5.0% | $93.8M+0.5% | $93.3M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $327.2M-29.8% | $466.0M-4.2% | $486.3M-4.9% | $511.4M-5.0% | $538.5M-0.5% | $541.2M-0.2% | $542.5M-0.3% | $544.0M |
| Retained Earnings | -$394.8M-55.7% | -$253.6M-9.8% | -$231.0M-13.4% | -$203.8M-16.9% | -$174.3M-2.9% | -$169.4M-3.2% | -$164.1M-2.8% | -$159.5M |
VNDA Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$29.4M+7.0% | -$31.6M-107.4% | -$15.3M+54.0% | -$33.1M-1724.3% | -$1.8M+87.5% | -$14.6M-110.5% | -$6.9M-191.5% | $7.6M |
| Capital Expenditures | $102K-36.6% | $161K-46.2% | $299K-31.4% | $436K+103.7% | $214K+32.9% | $161K+49.1% | $108K+1442.9% | $7K |
| Free Cash Flow | -$29.5M+7.1% | -$31.8M-104.4% | -$15.6M+53.7% | -$33.6M-1553.5% | -$2.0M+86.2% | -$14.7M-109.5% | -$7.0M-193.0% | $7.6M |
| Investing Cash Flow | $44.9M+110.0% | $21.4M+239.9% | -$15.3M-134.8% | $43.9M+999.5% | $4.0M-66.9% | $12.1M+179.0% | -$15.3M+16.2% | -$18.2M |
| Financing Cash Flow | -$640K-23.8% | -$517K-21.6% | -$425K+67.9% | -$1.3M-754.2% | -$155K | $0 | $0 | $0 |
| Dividends Paid | N/A | N/A | 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 | N/A | N/A |
VNDA Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 93.3%-1.4pp | 94.8%-0.0pp | 94.8%+1.8pp | 93.0%-2.2pp | 95.1%+0.5pp | 94.7%+0.1pp | 94.6%+1.8pp | 92.8% |
| Operating Margin | -70.5%-14.9pp | -55.6%+17.6pp | -73.2%+8.8pp | -82.0%-62.7pp | -19.3%+3.8pp | -23.1%-3.0pp | -20.1%-0.6pp | -19.5% |
| Net Margin | -246.8%-206.6pp | -40.2%+11.6pp | -51.7%+7.2pp | -58.9%-49.7pp | -9.2%+1.9pp | -11.2%-2.2pp | -8.9%-0.2pp | -8.7% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -28.9%-25.1pp | -3.8%+0.6pp | -4.3%+0.3pp | -4.7%-3.9pp | -0.8%+0.1pp | -0.8%-0.1pp | -0.7%-0.0pp | -0.6% |
| Current Ratio | 2.39-0.7 | 3.12-0.1 | 3.25-0.7 | 3.93-0.5 | 4.39-0.5 | 4.85+0.2 | 4.68-0.0 | 4.71 |
| Debt-to-Equity | 0.49+0.2 | 0.290.0 | 0.28+0.0 | 0.24+0.0 | 0.22+0.0 | 0.190.0 | 0.200.0 | 0.20 |
| FCF Margin | -51.6%+4.9pp | -56.5%-26.9pp | -29.6%+37.5pp | -67.1%-63.3pp | -3.8%+27.1pp | -30.9%-17.0pp | -13.9%-29.9pp | 15.9% |
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Frequently Asked Questions
What is Vanda Pharma's annual revenue?
Vanda Pharma (VNDA) reported $216K in total revenue for fiscal year 2025. This represents a -99.9% 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 Vanda Pharma's revenue growing?
Vanda Pharma (VNDA) revenue declined by 99.9% year-over-year, from $198.8M to $216K in fiscal year 2025.
Is Vanda Pharma profitable?
Yes, Vanda Pharma (VNDA) reported a net income of $220K in fiscal year 2025, with a net profit margin of 102.0%.
What is Vanda Pharma's earnings per share (EPS)?
Vanda Pharma (VNDA) reported diluted earnings per share of $3.74 for fiscal year 2025. This represents a 1233.3% 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.
What is Vanda Pharma's EBITDA?
Vanda Pharma (VNDA) had EBITDA of $161K in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Vanda Pharma's gross margin?
Vanda Pharma (VNDA) had a gross margin of 94.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Vanda Pharma's operating margin?
Vanda Pharma (VNDA) had an operating margin of 70.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Vanda Pharma's net profit margin?
Vanda Pharma (VNDA) had a net profit margin of 102.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Vanda Pharma's return on equity (ROE)?
Vanda Pharma (VNDA) has a return on equity of 67.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Vanda Pharma's free cash flow?
Vanda Pharma (VNDA) generated $108K in free cash flow during fiscal year 2025. This represents a 100.7% 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 Vanda Pharma's operating cash flow?
Vanda Pharma (VNDA) generated $109K in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Vanda Pharma's total assets?
Vanda Pharma (VNDA) had $489K in total assets as of fiscal year 2025, including both current and long-term assets.
What are Vanda Pharma's capital expenditures?
Vanda Pharma (VNDA) invested $998 in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Vanda Pharma spend on research and development?
Vanda Pharma (VNDA) invested $109K in research and development during fiscal year 2025.
How many shares does Vanda Pharma have outstanding?
Vanda Pharma (VNDA) had 59M shares outstanding as of fiscal year 2025.
What is Vanda Pharma's current ratio?
Vanda Pharma (VNDA) had a current ratio of 2.39 as of fiscal year 2025, which is generally considered healthy.
What is Vanda Pharma's debt-to-equity ratio?
Vanda Pharma (VNDA) had a debt-to-equity ratio of 0.49 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Vanda Pharma's return on assets (ROA)?
Vanda Pharma (VNDA) had a return on assets of 45.1% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Vanda Pharma's Altman Z-Score?
Vanda Pharma (VNDA) has an Altman Z-Score of 1338.26, 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 Vanda Pharma's Piotroski F-Score?
Vanda Pharma (VNDA) 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.
Are Vanda Pharma's earnings high quality?
Vanda Pharma (VNDA) has an earnings quality ratio of 0.50x, 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 Vanda Pharma?
Vanda Pharma (VNDA) scores 78 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.