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Harmony Biosciences Holdings, Inc. HRMY

Nasdaq · stock · Pharmaceutical Preparations · website · IPO 2020-08-19

Harmony Biosciences Holdings, Inc. statistics & valuation

Market cap$2.1B
P / E12.9×
P / S2.4×
P / B2.4×
P / FCF5.9×
Net margin18.3%
Return on equity18.2%
FCF margin40.1%
Net cash$588.8M
Enterprise value USD$1.5B
Earnings yield EBIT/EV14.2%
Return on capital20.4%
Graham number -24.3%$30.11

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($30.11); a green figure means the price is below it.

Profitability & efficiency

Net margin (%)
-2535.10% -23.10% 11.30% 41.40% 22.10% 20.40% 18.30% 2019202020212022202320242025
Gross margin (%)
73.70% 82.60% 81.80% 80.90% 79.20% 78.10% 77.20% 2019202020212022202320242025
Operating margin (%)
-2433.80% 10.60% 28.70% 27.40% 33.00% 26.70% 24.00% 2019202020212022202320242025
Return on equity (%)
-38.00% 18.50% 45.00% 27.60% 22.10% 18.20% 2019202020212022202320242025
Shares outstanding
7.8M 56.9M 59.2M 61.1M 60.4M 57.9M 58.5M 2019202020212022202320242025
Net debt ($)
$73.5M -$34.4M -$42.3M -$52.1M -$118.1M -$273.7M -$588.8M 2019202020212022202320242025
Share buybacks ($)
2019202020212022202320242025
Return on assets (%)
-142.40% -8.70% 8.00% 26.90% 15.90% 14.60% 12.50% 2019202020212022202320242025
Free cash flow margin (%)
-1260.80% -1.90% 32.20% 33.00% 37.60% 30.60% 40.10% 2019202020212022202320242025
Debt / equity (×)
2.00× 1.03× 0.48× 0.41× 0.27× 0.19× 2019202020212022202320242025
EPS ($)
-$24.07 -$2.48 $0.58 $2.97 $2.13 $2.51 $2.71 2019202020212022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

P / E vs its own history

Harmony Biosciences Holdings, Inc. trades at about 14.7× earnings — near its 10-year norm (10-year range 13.5×–61.8×, median 15.4×).

13.5× 61.8×

Shaded band = 10-year range (13.5×–61.8×); dot = today's 14.7×.

Historical P/E = month-end price near each fiscal year-end ÷ that year's EPS. A read on whether the stock is cheap or dear relative to how it has typically been valued — not a forecast.

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022FY2021FY2020FY2019
Gross margin77.2%78.1%79.2%80.9%81.8%82.6%73.7%
Operating margin24.0%26.7%33.0%27.4%28.7%10.6%-2433.8%
Net margin18.3%20.4%22.1%41.4%11.3%-23.1%-2535.1%
FCF margin40.1%30.6%37.6%33.0%32.2%-1.9%-1260.8%
Return on assets12.5%14.6%15.9%26.9%8.0%-8.7%-142.4%
Return on equity18.2%22.1%27.6%45.0%18.5%-38.0%35.9%
Debt / equity0.19×0.27×0.41×0.48×1.03×2.00×-0.23×
Current ratio3.603.312.755.075.291.951.58

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.