undamentalytics Newsletter
Sign in

Corcept Therapeutics Inc (CORT) stock

Add to watchlist

Add holding +

NASDAQ: CORT Nasdaq Pharmaceuticals Next results ~November 3, 2026

B Fundamentals grade

Corcept Therapeutics Inc is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

Loading chart…

Third-party market data · may be delayed

Fair value per share

~$54

Cash-flow model

Base case. Range ~$42–$69 across our lower- and higher-growth cases (15%–25% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 33% below it.

Price used: $80.46, November 2, 2026

Corcept Therapeutics Inc valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders1 buying, 10 selling2 purchases and 111 sales by directors and officers, last 12 monthsInsider trades
  • Funds269 adding, 163 cuttingOf 52 active managers that changed their stake, 24 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Corcept Therapeutics files

Where Corcept Therapeutics stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $831m, up 16.0% on a year earlier, faster than 12.2% a quarter earlier. Free-cash-flow margin fell to 12.9% from 25.2% a year earlier. Operating margin narrowed to 0.8% from 14.2%. The diluted share count is down 2.2% on a year earlier, which lifts each remaining share. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 2 of our 2 financial-health checks. Our cash-flow model value is $30.62 a share, against a share price of $116.

Source: 10-Q filed July 29, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Corcept Therapeutics Inc's trailing-twelve-month revenue grew 16.0% year on year, with a free-cash-flow margin of 12.9%. Where it stands out: gross margin of 98.3% ranks 2 of 59 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$54 per share in the base case (~$42–$69 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well ahead of expectations: Reported earnings per share beat the analysts' consensus estimate by 535% in the quarter to 2026-06-30, the 2nd beat in the last four quarters.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Fast growth. Revenue grew 16.0% over the last 12 months, against a median of 10.0% for pharmaceuticals companies we cover.
  • Growth speeding up. The growth rate is 3.8 points higher than a quarter earlier.
  • Shrinking share count. Diluted shares fell 2.2% in a year, so each share owns more of the business.
  • Net cash. Cash exceeds long-term debt by $0.1bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 15.0% over 90 days.

Things to watch

  • Results due soon. Results are expected around 3 November; the share price can move sharply on the day.
  • Priced above our value. The share price of $80.46 is 33% above our value per share of $54.
  • Margins narrowing. Operating margin is down 13.5 points on a year ago.
  • High earnings multiple. The shares trade at 169 times the last 12 months' earnings, so expectations are demanding.
  • Volatile shares. Over the past year the shares showed annualised volatility of 83% and a beta of 1.9 against the S&P 500.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 10.7% ranks 55 of 69 pharmaceuticals companies we cover (median 3.6%).

Latest results: FY2026 Q2

Filed July 29, 2026
Earnings per share
$0.36 against an average estimate of $0.06: beat by 535.3%
Revenue
$256m, up 31.7% on a year earlier
Share reaction
+25.6% in the first session after the results on July 29, 2026, against +0.1% for the S&P 500
Guidance given
revenue guidance $1.1bn to $1.2bn (2026)
Next report
November 3, 2026; average EPS estimate $0.84

Corcept Therapeutics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-0.8%
  • 1 week-7.7%
  • 1 month-30.8%
  • This year+131.2%
  • 1 year+9.5%
  • 5 years+341.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$831M
Operating margin
0.8%
Net margin
6.6%
EPS (TTM, diluted)
$0.48

Growth

Revenue growth
+16.0%
Change in growth rate
+3.8 pts
Share count change
−2.2%

Cash

Free cash flow (TTM)
$107M
FCF margin
12.9%
Stock pay % of revenue
10.7%

Earnings

Last results
July 29, 2026
Next results (est.)
November 3, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Regulatory
  2. Announcement
  3. Announcement
  4. Announcement
  5. Announcement
  6. Our research
  7. Regulatory
  8. Insider trade
  9. Announcement
  10. Insider trade
  11. Insider trade
  12. Leadership
  13. Insider trade
  14. Insider trade
  15. Insider trade
  16. Announcement
  17. Results
  18. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Corcept Therapeutics Inc valuation models and calculator

What the price is pricing in

The share price implies about 37.0% a year of cash-flow growth for five years.That is faster than the 17.8% a year revenue growth Corcept Therapeutics has delivered.

Read with care: free cash flow has swung sharply in the past year (often a one-off tax, legal or working-capital item), so the cash-flow base behind this reading may be unusually low or high.

  • Priced in37.0%
  • Last 12 months16.0%
  • 3 years a year24.7%
  • 5 years a year17.8%

Our cash-flow model with every input fixed except growth over the next five years, solved for the growth at which the model value equals the share price ($82.46, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$54
Price used
$82.46close November 3, 2026
Implied change
▼ 35%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Corcept Therapeutics Inc's free cash flow after stock-based pay with after-tax interest added back ($77.5M, FY2026 Q2 TTM), growing 55.5% and 27% in the next two years (forecasts, guidance and its record), then back to 20% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$42–~$69 ; that spread sets a 15% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of Corcept Therapeutics Inc's free cash flow after stock-based pay ( $77.5M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value Corcept Therapeutics Inc as an operating company, with every model that fits that kind of business. Cost of equity 9.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.99 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$54 ~$42–$69 Primary model, counts double
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$48 ~$28–$65 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$37 ~$39–$71 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$23 ~$16–$34 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$18 ~$15–$21 Included
Combined value Weighted average of the models that apply: the primary model (cash-flow model (dcf)) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$39 ~$18–$54 5 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Corcept Therapeutics Inc with Pharmaceuticals in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −22%
  • Revenue growth 5 points higher ▲ +29%
  • Free-cash-flow margin 1 point lower ▼ −7%
  • Last year's free-cash-flow margin change, if it persists ▼ −47%
  • Discount rate 1 point higher ▼ −15%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $13$17$22$29$37$49
8.5% $11$14$17$22$28$36
10% $9$12$14$18$23$29

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$7.26$18.06$13.36$12.10$26.16$19.80$20.31$32.48$50.39$34.80$80.46
Market value$843m$2.2bn$1.7bn$1.5bn$3.2bn$2.5bn$2.4bn$3.6bn$5.7bn$4.2bn$9.3bn
+ Net debt (− = net cash)−$37m−$31m−$42m−$31m−$76m−$78m−$66m−$136m−$128m−$120m−$111m
Enterprise value$806m$2.2bn$1.7bn$1.5bn$3.2bn$2.4bn$2.3bn$3.5bn$5.6bn$4.1bn$9.2bn
Multiples
Price / sales 10.4x14.1x6.7x4.8x9.2x6.8x5.9x7.5x8.5x5.5x11.2x
Price / earnings 103.6x17.4x22.4x15.7x30.6x22.2x23.2x34.2x40.5x41.9x168.6x
Price / free cash flow 46.3x37.2x14.7x11.0x21.6x14.9x19.6x28.7x29.2x29.4x87.0x
EV / EBITDA 78.5x41.9x18.4x12.9x24.6x19.2x20.1x32.3x40.6x88.3xn/m

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

75 /100

Strong moat

How hard Corcept Therapeutics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 20 / 20

    Cash operating profit has been a median 49.0% of total assets over 10 years.

  • Pricing power 20 / 20

    Gross margin has been a median 98.4%, moving by 0.3 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median 31.1%; its worst year was 0.8%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 9 of 9 years, at a median 38.6% of revenue.

  • Discipline 10 / 20

    The diluted share count fell 8.9% over five years; stock-based pay has been a median 10.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (80 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $336m and EPS of $0.84 (range $0.74 to $1.03) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $2.12 +159% $1.1bn +51%
Next $4.20 +98% $1.7bn +46%

Next year's EPS estimate has moved +15.0% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +173.0% on 90 days ago. In the last 30 days, 1 analyst raised Corcept Therapeutics Inc's forecast and 0 cut it.

Consensus EPS forecast Corcept Therapeutics Inc, last 90 days
$0.00 $2.00 $4.00 $6.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $0.78 Current fiscal year, 60 days ago: $2.15 Current fiscal year, 30 days ago: $2.15 Current fiscal year, 7 days ago: $2.12 Current fiscal year, Now: $2.12 $2.12 Next fiscal year, 90 days ago: $3.65 Next fiscal year, 60 days ago: $4.40 Next fiscal year, 30 days ago: $4.40 Next fiscal year, 7 days ago: $4.41 Next fiscal year, Now: $4.20 $4.20

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $0.78$3.65
60 days ago $2.15$4.40
30 days ago $2.15$4.40
7 days ago $2.12$4.41
Now $2.12$4.20

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.06 $0.36 +535.3%
Mar 2026 −$0.14 −$0.30 −111.3%
Dec 2025 $0.33 $0.20 −39.4%
Sept 2025 $0.14 $0.16 +18.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 29, 2026
  • revenue guidance 2026 $1.1bn to $1.2bn Raised
    “Increase in 2026 revenue guidance to $1.1 - $1.2 billion” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

How our valuation uses these forecasts

Our cash-flow model grows Corcept Therapeutics Inc's revenue by +55.5% next year and +27.0% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+70.1%, weight 49%) , management guidance (+70.6%, weight 22%) and the company's own record (+20.0%, weight 29%) . How the weights are set.

Analyst recommendations

5 analysts, Oct 2026
Buy480%
Hold00%
Sell120%

Monthly trend

  1. Oct 20261315
  2. Sep 20261315
  3. Aug 20261315
  4. Jul 20261214

Counts of recommendations published by analysts covering Corcept Therapeutics Inc, by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
10.2%
of tradable shares
Days to cover
5.51
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
77%
of shares
Held by insiders
11.5%
of shares
Employees
730
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months +9.5%

$73.47 on October 31, 2025 to $80.46

ThenNowEffect
Revenue (last 12 months) $716m $831m +16.0%
Net margin 18.7% 6.6% −64.4%
P/E multiple 65.0x 168.6x +159.3%
Share count 118m 116m +2.3%

Biggest factor: net margin.

Last 3 years +214.1%

$25.62 on November 3, 2023 to $80.46

ThenNowEffect
Revenue (last 12 months) $428m $831m +94.0%
Net margin 22.1% 6.6% −69.9%
P/E multiple 31.0x 168.6x +443.2%
Share count 115m 116m −0.9%

Biggest factor: p/e multiple.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
CORT−24%+3%+60%+55%−31%+131%
Industry peers (median)−18%−52%−14%−2%+9%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
CORT33%42%67%67%50%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
CORT−44%−33%−27%−35%−70%−35%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 72% from March 31, 2025 to March 13, 2026. Getting back needed a 255% gain, reached on July 30, 2026, 139 days after the low.

Price behaviour

52-week range
$32.15 – $123.57
From 52-week high
−34.9%
vs 50-day average
−27.6%
vs 200-day average
+7.3%
Volatility (1 year)
83%
Beta vs S&P 500
1.94

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
8 up, 4 down
typical move ±5.7%
After a week
7 up, 5 down
typical move ±6.6%
After a month
7 up, 5 down
typical move ±14.7%
Results releasedNext dayS&P 500 next day5 days21 days
July 29, 2026 +25.6% +0.1% +17.5% +24.1%
April 30, 2026 +10.4% +1.3% +9.6% +51.2%
February 24, 2026 +2.5% +1.6% −0.2% +14.5%
November 4, 2025 +3.3% −0.8% +6.5% +14.1%
July 31, 2025 −1.3% −2.0% +2.2% −0.3%
May 5, 2025 −2.8% −1.4% −0.9% −3.8%
February 26, 2025 −2.3% −1.5% −9.4% −7.4%
October 30, 2024 +1.6% −2.3% +12.5% +19.6%
July 29, 2024 +1.5% −0.4% −3.1% −2.6%
May 1, 2024 +7.5% +0.6% +8.9% +29.4%
February 15, 2024 −6.2% +0.2% −7.2% +0.5%
January 8, 2024 +3.4% +1.3% +1.4% −8.3%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Options strategies

All options ideas

How Corcept Therapeutics Inc’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Implied vs realised volatility

Includes results

A results date falls inside these options’ life. Implied volatility is meant to be higher for that, so we do not call it rich.

  • Implied is 1.74× the last 60 days’ realised volatility .
  • Why: an earnings date falls inside the option's life, so implied volatility is expected to be high.

Our rule for “rich”: implied at least 1.2× 60-day realised (beyond measurement noise), above 1-year realised (not just a calm spell), and in the top 20% of our coverage that day. Never with results inside the option’s life. These are our conventions, built on research showing option prices usually imply more movement than follows, most when the gap is wide. How we judge this.

Cash-secured put

Not offered: rated Sell.

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: no liquid put and call pair for the same expiry.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

Corcept Therapeutics Inc in five measures

Fundamentals grade B
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Corcept Therapeutics Inc
$400M $500M $600M $700M $800M $900M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $450M Revenue (TTM), FY23 Q4: $482.4M Revenue (TTM), FY24 Q1: $523.5M Revenue (TTM), FY24 Q2: $569.6M Revenue (TTM), FY24 Q3: $628.6M Revenue (TTM), FY24 Q4: $675M Revenue (TTM), FY25 Q1: $685.4M Revenue (TTM), FY25 Q2: $716.1M Revenue (TTM), FY25 Q3: $741.2M Revenue (TTM), FY25 Q4: $761.4M Revenue (TTM), FY26 Q1: $769.1M Revenue (TTM), FY26 Q2: $830.8M $830.8M

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $450M
FY23 Q4 $482.4M
FY24 Q1 $523.5M
FY24 Q2 $569.6M
FY24 Q3 $628.6M
FY24 Q4 $675M
FY25 Q1 $685.4M
FY25 Q2 $716.1M
FY25 Q3 $741.2M
FY25 Q4 $761.4M
FY26 Q1 $769.1M
FY26 Q2 $830.8M
Revenue growth, TTM YoY Corcept Therapeutics Inc
0% 10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 13.2% Revenue growth, TTM YoY, FY23 Q4: 20.0% Revenue growth, TTM YoY, FY24 Q1: 26.5% Revenue growth, TTM YoY, FY24 Q2: 33.0% Revenue growth, TTM YoY, FY24 Q3: 39.7% Revenue growth, TTM YoY, FY24 Q4: 39.9% Revenue growth, TTM YoY, FY25 Q1: 30.9% Revenue growth, TTM YoY, FY25 Q2: 25.7% Revenue growth, TTM YoY, FY25 Q3: 17.9% Revenue growth, TTM YoY, FY25 Q4: 12.8% Revenue growth, TTM YoY, FY26 Q1: 12.2% Revenue growth, TTM YoY, FY26 Q2: 16.0% 16.0%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 13.2%
FY23 Q4 20.0%
FY24 Q1 26.5%
FY24 Q2 33.0%
FY24 Q3 39.7%
FY24 Q4 39.9%
FY25 Q1 30.9%
FY25 Q2 25.7%
FY25 Q3 17.9%
FY25 Q4 12.8%
FY26 Q1 12.2%
FY26 Q2 16.0%
Operating margin (TTM) Corcept Therapeutics Inc
-10% 0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 21.8% Operating margin (TTM), FY23 Q4: 22.2% Operating margin (TTM), FY24 Q1: 23.3% Operating margin (TTM), FY24 Q2: 22.5% Operating margin (TTM), FY24 Q3: 22.8% Operating margin (TTM), FY24 Q4: 20.3% Operating margin (TTM), FY25 Q1: 16.2% Operating margin (TTM), FY25 Q2: 14.2% Operating margin (TTM), FY25 Q3: 8.8% Operating margin (TTM), FY25 Q4: 5.9% Operating margin (TTM), FY26 Q1: -1.1% Operating margin (TTM), FY26 Q2: 0.8% 0.8%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 21.8%
FY23 Q4 22.2%
FY24 Q1 23.3%
FY24 Q2 22.5%
FY24 Q3 22.8%
FY24 Q4 20.3%
FY25 Q1 16.2%
FY25 Q2 14.2%
FY25 Q3 8.8%
FY25 Q4 5.9%
FY26 Q1 -1.1%
FY26 Q2 0.8%
FCF margin (TTM) Corcept Therapeutics Inc
10% 20% 30% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 34.3% FCF margin (TTM), FY23 Q4: 26.2% FCF margin (TTM), FY24 Q1: 23.8% FCF margin (TTM), FY24 Q2: 21.6% FCF margin (TTM), FY24 Q3: 22.5% FCF margin (TTM), FY24 Q4: 29.1% FCF margin (TTM), FY25 Q1: 25.8% FCF margin (TTM), FY25 Q2: 25.2% FCF margin (TTM), FY25 Q3: 22.0% FCF margin (TTM), FY25 Q4: 18.6% FCF margin (TTM), FY26 Q1: 15.6% FCF margin (TTM), FY26 Q2: 12.9% 12.9%

Source: SEC EDGAR filings. Retrieved October 20, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 34.3%
FY23 Q4 26.2%
FY24 Q1 23.8%
FY24 Q2 21.6%
FY24 Q3 22.5%
FY24 Q4 29.1%
FY25 Q1 25.8%
FY25 Q2 25.2%
FY25 Q3 22.0%
FY25 Q4 18.6%
FY26 Q1 15.6%
FY26 Q2 12.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2009 Dec 2009 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 81 159 251 306 354 366 402 482 675 761 831
Gross profit — 79 156 246 301 348 361 396 476 664 748 817
EBITDA −20 10 53 90 112 129 126 114 108 138 46 8
Operating income −20 10 53 89 112 128 124 113 107 137 45 6
Net income −20 8 129 75 94 106 113 101 106 141 100 55
Diluted EPS −$0.38 $0.07 $1.04 $0.60 $0.77 $0.85 $0.89 $0.87 $0.94 $1.23 $0.82 $0.48
Growth (year on year)
Revenue — +>999% +95.8% +57.8% +22.0% +15.5% +3.4% +9.8% +20.0% +39.9% +12.8% +16.0%
EBITDA — — +415.9% +69.4% +25.2% +14.6% −2.5% −9.3% −4.9% +27.2% −66.6% −92.2%
Operating income — — +419.3% +69.3% +24.7% +14.9% −2.9% −9.5% −4.8% +27.7% −67.3% −93.7%
Net income — — +>999% −41.6% +24.9% +12.6% +6.1% −9.9% +4.7% +33.0% −29.4% −58.7%
Diluted EPS — — +>999% −42.3% +28.3% +10.4% +4.7% −2.2% +8.0% +30.9% −33.3% −57.8%
Margins
Gross margin — 97.5% 97.8% 97.9% 98.2% 98.4% 98.6% 98.7% 98.7% 98.4% 98.3% 98.3%
EBITDA margin <−999% 12.6% 33.3% 35.7% 36.6% 36.4% 34.3% 28.3% 22.5% 20.4% 6.0% 1.0%
Operating margin <−999% 12.5% 33.2% 35.6% 36.4% 36.2% 34.0% 28.0% 22.2% 20.3% 5.9% 0.8%
Net margin <−999% 10.0% 81.1% 30.0% 30.7% 30.0% 30.7% 25.2% 22.0% 20.9% 13.1% 6.6%
Free-cash-flow margin — 22.4% 38.0% 45.9% 44.1% 42.6% 45.7% 29.8% 26.2% 29.1% 18.6% 12.9%
Cash flow
Cash from operations −18 18 61 116 136 152 168 120 127 198 142 110
Capital spending — 0 0 0 1 1 0 0 0 2 0 3
Free cash flow — 18 61 115 135 151 167 120 127 196 142 107
Stock-based pay 2 7 13 24 29 34 43 42 49 61 85 89
Free cash flow after stock pay — 11 47 92 106 117 124 77 78 135 57 18
Balance sheet
Cash 24 52 31 42 31 76 78 66 136 128 120 111
Total debt 0 15 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −24 −37 −31 −42 −31 −76 −78 −66 −136 −128 −120 −111
Diluted shares — 116m 125m 127m 123m 124m 126m 116m 112m 113m 120m 116m
Returned to shareholders
Buybacks — 0 0 24 31 10 — 0 0 16 173 42
Total returned — 0 0 24 31 10 — 0 0 16 173 42

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 2 checks passed · June 30, 2026
What it owns · $889m
Short-term assets $440mLonger-term assets $449m
What it owes, and who funded it · $889m
Short-term liabilities $154mLonger-term liabilities $29mShareholders' equity $706m
  • Short-term assets cover short-term liabilities $440m of assets due within a year against $154m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $440m short-term assets against $29m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Corcept Therapeutics Inc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$42.5M
Returned to shareholders
40%
of free cash flow
Buybacks, last 3 fiscal years
$189M
Diluted share count
−2.2%
year over year
Total shareholder yield
0.5%
dividends 0.0% + buybacks 0.5% of market value
R&D spending
30.6%
of revenue
Sales & admin spending
67.0%
of revenue
Days sales outstanding
34 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated CORT SUPN AXSM PCRX AMPH HRMY Median
Revenue, last 12 months $831m $865m $865m $746m $730m $960m $276m
Revenue growth, last 12 months 16.0% 26.9% 54.2% 5.7% 1.0% 24.3% 9.9%
Revenue growth, 3-year average 24.7% 12.3% 57.0% 3.7% 10.5% 24.4% 5.5%
Revenue growth, latest quarter 31.7% 18.0% 51.9% 6.2% 5.4% 30.3% 6.5%
Gross margin 98.3% 87.6% — 79.2% 47.7% 75.4% 62.0%
Operating margin 0.8% −5.7% −17.5% 2.7% 15.7% 24.0% −5.9%
Operating margin, 3-year average 12.5% −0.7% −48.6% 0.4% 24.3% 26.6% −7.4%
Net margin 6.6% −5.1% −18.2% 2.0% 10.8% 18.9% −7.3%
Cash from operations / revenue 13.2% 10.2% −9.5% 25.2% 25.3% 37.0% 10.2%
Free-cash-flow margin 12.9% 10.1% −9.5% 24.1% 20.9% 37.0% 8.6%
Free-cash-flow margin, 3-year average 19.9% 15.6% −22.3% 22.5% 20.5% 34.3% 7.4%
Stock pay / revenue 10.7% 4.1% 11.5% 7.5% 4.0% 4.3% 3.6%
Change in share count −2.2% 2.8% 4.7% −2.8% −7.8% 0.6% 1.9%

Median of all 75 companies we cover in pharmaceuticals. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

75 pharmaceuticals companies
Measure Company Peer median Rank
Revenue growth Growth 16.0% 10.0% 28 of 74
Change in growth rate Growth +3.8pp -0.3pp 16 of 74
Gross margin Profitability 98.3% 59.8% 2 of 59
Operating margin Profitability 0.8% -5.9% 27 of 67
Net margin Profitability 6.6% -7.3% 24 of 75
Free-cash-flow margin Cash generation 12.9% 10.1% 33 of 74
Stock pay as % of revenue Cash generation 10.7% 3.6% 55 of 69
Change in share count Balance sheet -2.2% 1.5% 9 of 62
Days sales outstanding Balance sheet 34 days 72 days 6 of 59

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$7.1B
Institutions reporting
419
Shares held vs prior quarter
▲ 3.3%
Positions opened / closed
123 / 54

Top buyers and sellers, Q2 2026: 269 institutions bought and 163 sold ; the biggest buyer was AQR Capital Management LLC (+2.2M shares) and the biggest seller Sio Capital Management, LLC (−675K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.1B 12.4M 15.1% ▲ 2.3%
Ingalls & Snyder LLC $690M 7.9M 9.7% ▲ 4.3%
Renaissance Technologies LLC $457M 5.3M 6.4% ▼ 7.4%
Vanguard Portfolio Management LLC $439M 5.0M 6.1% ▲ 4.6%
Vanguard Capital Management LLC $363M 4.2M 5.1% ▲ 2.3%
Parallel Advisors, LLC $345M 4.0M 4.8% ▼ 0.4%
FMR LLC $290M 3.3M 4.1% ▲ 4.6%
State Street Corp $285M 3.3M 4.0% ▲ 2.5%
AQR Capital Management LLC $225M 2.6M 3.1% ▲ 535.8%
Geode Capital Management, LLC $220M 2.5M 3.1% ▼ 6.7%
First Trust Advisors LP $159M 1.8M 2.2% ▼ 15.8%
Tang Capital Management LLC $130M 1.5M 1.8% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Corcept Therapeutics Inc's complete shareholder register. Values are as reported by the filers ; 4 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $3.3M 2 trades by 1 insider, last 12 months Insider sales History → $102M 111 trades by 10 insiders · 93% under pre-set plans
Net ▼ $98.2M net selling
Insider Date Trade Shares Price Value
Wilson James N Director October 15, 2026 Sell pre-set plan 300 $116.30 $34,889
Wilson James N Director October 15, 2026 Sell pre-set plan 3,046 $115.39 $351,476
Wilson James N Director October 15, 2026 Sell pre-set plan 6,654 $114.48 $761,717
Maduck Sean See Remarks October 2, 2026 Sell pre-set plan 8,744 $116.55 $1M
Maduck Sean See Remarks October 2, 2026 Sell pre-set plan 15,843 $116.12 $1.8M
Lyon Joseph Douglas See Remarks October 2, 2026 Sell pre-set plan 4,744 $116.54 $552,869
Lyon Joseph Douglas See Remarks October 2, 2026 Sell pre-set plan 4,446 $115.70 $514,389
Vieira Roberto Wandenkolk President, Oncology October 2, 2026 Sell pre-set plan 5,147 $116.58 $600,063
Vieira Roberto Wandenkolk President, Oncology October 2, 2026 Sell pre-set plan 2,086 $115.73 $241,412
Vieira Roberto Wandenkolk President, Oncology October 2, 2026 Sell pre-set plan 1,100 $114.52 $125,973
Maduck Sean See Remarks October 1, 2026 Sell pre-set plan 413 $115.54 $47,717
Lyon Joseph Douglas See Remarks October 1, 2026 Sell pre-set plan 810 $115.40 $93,473

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 3, 2026 estimated from the company's past filing pattern, not announced

  • July 29, 2026
  • April 30, 2026
  • February 24, 2026
  • November 4, 2025
  • July 31, 2025
  • May 5, 2025

Recent SEC filings

Data status

When each part of this page on Corcept Therapeutics Inc was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Corcept Therapeutics Inc in brief

What does Corcept Therapeutics Inc do?
Corcept Therapeutics Inc is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Corcept Therapeutics Inc's stock ticker?
Corcept Therapeutics Inc trades under the ticker CORT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Corcept Therapeutics Inc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Corcept Therapeutics Inc reported revenue of $831M, 16.0% higher than a year earlier, according to its SEC filings.
What is Corcept Therapeutics Inc's free cash flow?
Corcept Therapeutics Inc's free-cash-flow margin is 12.9% of revenue over the trailing twelve months, ranking 33 of the 74 pharmaceuticals companies we cover.
What is Corcept Therapeutics Inc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Corcept Therapeutics Inc's free cash flow after stock-based pay gives ~$54 per share in the base case, and ~$42–$69 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Corcept Therapeutics Inc's largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Ingalls & Snyder LLC and Renaissance Technologies LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Corcept Therapeutics Inc buying back stock, and does it pay a dividend?
Corcept Therapeutics Inc spent $42.5M on share repurchases over the trailing twelve months, and its diluted share count fell 2.2% over the year.
What is Corcept Therapeutics Inc's market cap?
On November 2, 2026, Corcept Therapeutics Inc's market capitalisation was about $9.3B, with a price-to-earnings ratio of 168.6 and net debt of -$111M. Market figures come from third-party market data and may be delayed.
Who are Corcept Therapeutics Inc's competitors?
In our Pharmaceuticals peer group, the companies closest to Corcept Therapeutics Inc are Supernus Pharmaceuticals, Inc., Axsome Therapeutics, Inc., Pacira Biosciences, Inc., Amphastar Pharmaceuticals, Inc. and Harmony Biosciences Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Corcept Therapeutics Inc's.
Are insiders buying or selling Corcept Therapeutics Inc stock?
Over the last 12 months, Corcept Therapeutics Inc's directors and officers reported 2 open-market purchases and 111 sales on Form 4. The insider trading page charts every trade.
When is Corcept Therapeutics Inc's next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Corcept Therapeutics Inc announces its own schedule.