RPRX
Royalty Pharma plc
Next earnings Aug 4, 2026 · consensus $1.30 EPS, $722M rev
Last earnings +0.6% on 2026-05-06
$56.23
▲ +2.82%$56.23▲ +62.25%
over 1Y
L $34.37EODHDH $56.23
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+2.8%
1W+5.0%
1M+4.2%
3M+21.9%
YTD+46.1%
1Y+62.3%
Hold
Conviction
Horizon
Long (>12mo)
Street · 16 analysts
Buy
A cash-rich royalty aggregator with an ~11% operating-cash-flow yield, but flat 5-yr revenue and rising leverage cap it at a hold.
Operating cash flow $2.49B · FY2025
The read
Middling fundamentals and a rich price (~75% above fair value) leave little margin of safety — a wait-and-see.
Royalty Pharma is a leveraged, high-margin cash machine rather than a growth story. FY2025 operating margin of 65.6% and operating cash flow of $2.49B against $2.38B of GAAP revenue show how much real cash the royalty book throws off — far above the $771M GAAP net income, which the effective-interest accounting on royalty 'financial assets' (described in the MD&A) deliberately understates. Backing out ~433M diluted shares (net income $771M / EPS $1.78) against the $52.96 price puts operating cash flow yield near 11%, which is why the headline 29.8x GAAP P/E overstates how expensive the stock really is. Management is leaning into that cash: buybacks jumped to $1.23B (+434%), and the May-2025 Internalization removed the external RP Management arrangement and founder-CEO conflict, a structural cleanup.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $2.29B | $2.24B | $2.35B | $2.26B | $2.38B |
| Gross profit | — | — | — | — | — |
| Operating income | $1.43B | $307M | $1.49B | $1.29B | $1.56B |
| Net income | $620M | $42.8M | $1.13B | $859M | $771M |
| Diluted EPS | $1.49 | $0.10 | $2.53 | $1.91 | $1.78 |
| Net margin | 27.1% | 1.9% | 48.2% | 37.9% | 32.4% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value—
EV / EBITDA—
EV / Sales—
EV / FCF—
P / FCF—
PEG (trailing)—
Earnings yield—
FCF yield—
Quality & risk
ROIC (est.)6.6%
Free cash flow—
Total debt$8.95B
Net cash-$8.33B
Piotroski F-Score4/7
Capital returns
Buyback yield—
Dividend yield (est.)—
Shareholder yield—
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
- 8-K Shareholder vote2026-06-04
Annual meeting: directors elected and routine proposals passed; no surprises
- 8-K Material agreement2026-05-28
Entered new debt agreement, adding leverage to fund royalty acquisitions
- 8-K Earnings results2026-05-06
Q1 2026: 35+ royalties intact; first full post-Internalization quarter
- 10-Q Quarterly report2026-05-06
Q1 2026: 35+ royalties intact; first full post-Internalization quarter
- 8-K Reg FD disclosure2026-04-13
Reg FD investor presentation/conference disclosure; no new financials
- DEF 14A Proxy statement2026-04-10
Proxy for annual meeting; say-on-pay and director slate up for vote
- 8-K Earnings results2026-02-11
FY2025: op income +20.7%, net -10%, LT debt +30%, $1.23B buybacks
- 10-K Annual report2026-02-11
FY2025: op income +20.7%, net -10%, LT debt +30%, $1.23B buybacks
- 8-K Officer / director change2025-12-22
Officer/director change disclosed post-Internalization
Recent filings
all on EDGAR ↗4Period ending 2026-06-242026-06-25open ↗4Period ending 2026-06-232026-06-25open ↗144Filing2026-06-24open ↗144Filing2026-06-23open ↗144Filing2026-06-23open ↗SCHEDULE 13D/AFiling2026-06-16open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗4Period ending 2026-06-052026-06-08open ↗
Frequently asked
- Is Royalty Pharma plc (RPRX) a buy?
- RPRX currently carries a Hold rating with 3/5 conviction, derived from its latest SEC filings. A cash-rich royalty aggregator with an ~11% operating-cash-flow yield, but flat 5-yr revenue and rising leverage cap it at a hold.
- What is RPRX's fair value?
- A Modified-Graham model based on RPRX's SEC fundamentals estimates a fair value of about $14.30. It is an estimate from reported earnings, not a price target.
- Is RPRX overvalued or undervalued?
- Against a Modified-Graham fair-value estimate, RPRX currently appears overvalued relative to its SEC-grounded earnings power.
- What is Royalty Pharma plc's quality score?
- RPRX scores 62.294117647058826/100 (grade C+) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001802768, latest 10-Q filed 2026-05-06) · EODHD · analysis by claude-code · as of 6/21/2026, 4:48:30 PM.
Research and education only — not financial advice. EDGAR is not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities EDGAR rates; see Disclosures. Past performance does not guarantee future results. Do your own research.