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Harmony Biosciences Holdings, Inc. (HRMY) stock

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NASDAQ: HRMY Nasdaq Pharmaceuticals Next results ~November 4, 2026

B+ Fundamentals grade

Harmony Biosciences Holdings, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: our cash-flow value ($230.64) was left out of our combined valuation (it is 5.98x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Price vs value

Under review: our cash-flow value ($230.64) was left out of our combined valuation (it is 5.98x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating. We'll show the comparison once resolved.

Harmony Biosciences Holdings, 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.

  • Insiders0 buying, 3 selling0 purchases and 13 sales by directors and officers, last 12 monthsInsider trades
  • Funds178 adding, 140 cuttingOf 57 active managers that changed their stake, 26 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Harmony Biosciences Holdings files

Where Harmony Biosciences stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $960m, up 24.3% on a year earlier, faster than the 20.7% growth a quarter earlier. That growth ranks 7 of 34 among the pharmaceuticals companies we cover. Free-cash-flow margin rose to 37.0% from 33.5% a year earlier. Operating margin narrowed to 24.0% from 28.7%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B+. It passes 7 of our 7 financial-health checks.

Our model value for Harmony Biosciences Holdings is under review, so past values are not shown until it is resolved.

Source: 10-Q filed August 4, 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 4, 2026 (estimated)

Harmony Biosciences Holdings, Inc.'s trailing-twelve-month revenue grew 24.3% year on year, with a free-cash-flow margin of 37.0%. Where it stands out: free-cash-flow margin of 37.0% ranks 5 of 74 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$230 per share in the base case (~$180–$300 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow grew 37.2% while net income grew 0.2%: a 37pp divergence.

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 24.3% over the last 12 months, against a median of 10.0% for pharmaceuticals companies we cover.
  • Growth speeding up. The growth rate is 3.5 points higher than a quarter earlier.
  • Strong cash generation. 37.0% of revenue turned into free cash flow, against a median of 10.1% for pharmaceuticals companies we cover.
  • Net cash. Cash exceeds long-term debt by $0.4bn.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 16.4% over 90 days.

Things to watch

  • Margins narrowing. Operating margin is down 4.7 points on a year ago.
  • Gross margin slipping. Gross margin is down 2.9 points on a year ago.
  • Heavily shorted. 12.4% of the shares available to trade are sold short (5.3 days of average volume to cover).
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$1.50 against an average estimate of $1.15: beat by 30.6%
Revenue
$261m, up 30.3% on a year earlier
Share reaction
+7.4% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 4, 2026; average EPS estimate $1.47

Harmony Biosciences Holdings' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.2%
  • 1 week+2.9%
  • 1 month-4.4%
  • This year+1.3%
  • 1 year+32.7%
  • 5 years-11.7%
  • S&P 500 this year+11.2%

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

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$960M
Operating margin
24.0%
Net margin
18.9%
EPS (TTM, diluted)
$3.09

Growth

Revenue growth
+24.3%
Change in growth rate
+3.5 pts
Share count change
+0.6%

Cash

Free cash flow (TTM)
$355M
FCF margin
37.0%
Stock pay % of revenue
4.3%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

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

  1. Leadership
  2. Insider trade
  3. Insider trade
  4. Results
  5. Results

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

Harmony Biosciences Holdings, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: held for review: our cash-flow value ($230.64) was left out of our combined valuation (it is 5.98x the share price, outside the 0.2-5x range we accept), so it can't be the basis of a rating.

Our value per share comes from a discounted-cash-flow model of Harmony Biosciences Holdings, Inc.'s free cash flow after stock-based pay ( $298M, 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.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Harmony Biosciences Holdings, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9%: the 10-year Treasury yield (4.9%) plus a beta of 0.9 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. ~$230 ~$180–$300 Left out: out of range vs price (6.08x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$42 ~$38–$85 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$170 ~$120–$240 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. ~$81 ~$69–$97 Included
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Harmony Biosciences Holdings, 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.

Valuation multiples over time Market data may be delayed

At fiscal year end 202020212022202320242025Now
Share price$36.15$42.64$55.10$32.30$34.41$37.42$37.91
Market value$932m$2.5bn$3.4bn$2.0bn$2.0bn$2.2bn$2.2bn
+ Net debt (− = net cash)−$29m−$35m−$46m−$115m−$272m−$588m−$395m
Enterprise value$903m$2.5bn$3.3bn$1.8bn$1.7bn$1.6bn$1.8bn
Multiples
Price / sales 5.8x8.3x7.7x3.4x2.8x2.5x2.3x
Price / earnings —73.0x18.6x15.1x13.7x13.8x12.3x
Price / free cash flow —25.7x23.3x8.9x9.1x6.3x6.3x
EV / EBITDA 52.0x28.3x27.5x9.5x9.0x——

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

93 /100

Strong moat

How hard Harmony Biosciences Holdings's competitive advantage looks for rivals to wear away, judged from 6 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 30.7% of total assets over 6 years.

  • Pricing power 20 / 20

    Gross margin has been a median 80.1%, moving by 2.4 percentage points (standard deviation) across 6 years.

  • Durability 19 / 20

    Operating margin has been a median 27.9%; its worst year was 23.8%.

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 (98 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 4, 2026. Analysts expect revenue of $272m and EPS of $1.47 (range $1.41 to $1.53) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $5.22 +45% $1.0bn +18%
Next $7.00 +34% $1.2bn +14%

Next year's EPS estimate has moved +16.4% in 90 days, across 2 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +16.1% on 90 days ago. In the last 30 days, 2 analysts raised Harmony Biosciences Holdings, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Harmony Biosciences Holdings, Inc., last 90 days
$4.00 $5.00 $6.00 $7.00 $8.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $4.50 Current fiscal year, 60 days ago: $4.55 Current fiscal year, 30 days ago: $5.22 Current fiscal year, 7 days ago: $5.22 Current fiscal year, Now: $5.22 $5.22 Next fiscal year, 90 days ago: $6.02 Next fiscal year, 60 days ago: $6.02 Next fiscal year, 30 days ago: $6.69 Next fiscal year, 7 days ago: $6.69 Next fiscal year, Now: $7.00 $7.00

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $4.50$6.02
60 days ago $4.55$6.02
30 days ago $5.22$6.69
7 days ago $5.22$6.69
Now $5.22$7.00

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $1.15 $1.50 +30.6%
Mar 2026 $0.93 $0.79 −15.9%
Dec 2025 $1.07 $0.57 −46.5%
Sept 2025 $0.86 $1.08 +25.4%

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

How our valuation uses these forecasts

Our cash-flow model grows Harmony Biosciences Holdings, Inc.'s revenue by +16.8% next year and +18.7% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+14.3%, weight 56%) and the company's own record (+20.0%, weight 44%) . How the weights are set.

Analyst recommendations

12 analysts, Oct 2026
Buy867%
Hold325%
Sell18%

Monthly trend

  1. Oct 2026263112
  2. Sep 2026253111
  3. Aug 2026253111
  4. Jul 2026243110

Counts of recommendations published by analysts covering Harmony Biosciences Holdings, 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
12.4%
of tradable shares
Days to cover
5.33
at average volume
Short interest, 1 month
+17%
to October 15, 2026
Held by institutions
100%
of shares
Held by insiders
1.2%
of shares
Employees
293
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 +32.7%

$28.57 on October 31, 2025 to $37.91

ThenNowEffect
Revenue (last 12 months) $773m $960m +24.3%
Net margin 23.4% 18.9% −19.4%
P/E multiple 9.2x 12.3x +33.3%
Share count 58m 59m −0.6%

Biggest factor: p/e multiple.

Last 3 years +46.3%

$25.92 on November 3, 2023 to $37.91

ThenNowEffect
Revenue (last 12 months) $499m $960m +92.4%
Net margin 40.1% 18.9% −53.0%
P/E multiple 7.9x 12.3x +54.9%
Share count 61m 59m +4.3%

Biggest factor: net margin.

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
HRMY+18%+29%−41%+7%+9%+1%
Industry peers (median)−20%−52%−13%−2%+7%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
HRMY42%58%50%58%58%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
HRMY−36%−36%−65%−23%−36%−31%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since August 19, 2020: 69% from December 5, 2022 to October 27, 2023. Getting back needed a 217% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$26.54 – $42.86
From 52-week high
−11.5%
vs 50-day average
−4.6%
vs 200-day average
+9.3%
Volatility (1 year)
40%
Beta vs S&P 500
0.55

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
6 up, 6 down
typical move ±6.6%
After a week
7 up, 5 down
typical move ±8.3%
After a month
8 up, 4 down
typical move ±11.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 +7.4% +1.6% +11.0% +20.4%
July 16, 2026 −3.2% −1.5% +2.6% +9.2%
May 7, 2026 −5.5% +0.5% −6.2% −1.2%
February 24, 2026 +4.9% +1.6% +5.2% +2.7%
January 12, 2026 −7.2% 0.0% −6.8% −5.1%
November 4, 2025 +6.9% −0.8% +12.4% +30.4%
October 23, 2025 +15.2% +1.4% +10.0% +30.6%
August 5, 2025 −2.4% +0.3% −0.2% +2.1%
May 6, 2025 +11.6% −0.4% +14.7% +16.9%
February 25, 2025 −2.1% −0.4% −4.6% −2.8%
January 13, 2025 +7.6% +0.3% +19.5% +11.8%
October 29, 2024 −5.5% −0.1% −6.5% 0.0%

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.

Harmony Biosciences Holdings, Inc. in five measures

Fundamentals grade B+
Growth Profitability Cash Balance sheet

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) Harmony Biosciences Holdings, Inc.
$400M $600M $800M $1B FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $541.9M Revenue (TTM), FY23 Q4: $582M Revenue (TTM), FY24 Q1: $617.5M Revenue (TTM), FY24 Q2: $656.1M Revenue (TTM), FY24 Q3: $681.9M Revenue (TTM), FY24 Q4: $714.7M Revenue (TTM), FY25 Q1: $744.9M Revenue (TTM), FY25 Q2: $772.5M Revenue (TTM), FY25 Q3: $825.9M Revenue (TTM), FY25 Q4: $868.5M Revenue (TTM), FY26 Q1: $899.1M Revenue (TTM), FY26 Q2: $959.9M $959.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $541.9M
FY23 Q4 $582M
FY24 Q1 $617.5M
FY24 Q2 $656.1M
FY24 Q3 $681.9M
FY24 Q4 $714.7M
FY25 Q1 $744.9M
FY25 Q2 $772.5M
FY25 Q3 $825.9M
FY25 Q4 $868.5M
FY26 Q1 $899.1M
FY26 Q2 $959.9M
Revenue growth, TTM YoY Harmony Biosciences Holdings, Inc.
15% 20% 25% 30% 35% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 35.2% Revenue growth, TTM YoY, FY23 Q4: 32.9% Revenue growth, TTM YoY, FY24 Q1: 30.9% Revenue growth, TTM YoY, FY24 Q2: 31.5% Revenue growth, TTM YoY, FY24 Q3: 25.8% Revenue growth, TTM YoY, FY24 Q4: 22.8% Revenue growth, TTM YoY, FY25 Q1: 20.6% Revenue growth, TTM YoY, FY25 Q2: 17.7% Revenue growth, TTM YoY, FY25 Q3: 21.1% Revenue growth, TTM YoY, FY25 Q4: 21.5% Revenue growth, TTM YoY, FY26 Q1: 20.7% Revenue growth, TTM YoY, FY26 Q2: 24.3% 24.3%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 35.2%
FY23 Q4 32.9%
FY24 Q1 30.9%
FY24 Q2 31.5%
FY24 Q3 25.8%
FY24 Q4 22.8%
FY25 Q1 20.6%
FY25 Q2 17.7%
FY25 Q3 21.1%
FY25 Q4 21.5%
FY26 Q1 20.7%
FY26 Q2 24.3%
Operating margin (TTM) Harmony Biosciences Holdings, Inc.
20% 25% 30% 35% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 36.8% Operating margin (TTM), FY23 Q4: 33.0% Operating margin (TTM), FY24 Q1: 33.0% Operating margin (TTM), FY24 Q2: 27.1% Operating margin (TTM), FY24 Q3: 25.7% Operating margin (TTM), FY24 Q4: 26.7% Operating margin (TTM), FY25 Q1: 26.2% Operating margin (TTM), FY25 Q2: 28.7% Operating margin (TTM), FY25 Q3: 27.3% Operating margin (TTM), FY25 Q4: 24.0% Operating margin (TTM), FY26 Q1: 21.1% Operating margin (TTM), FY26 Q2: 24.0% 24.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 36.8%
FY23 Q4 33.0%
FY24 Q1 33.0%
FY24 Q2 27.1%
FY24 Q3 25.7%
FY24 Q4 26.7%
FY25 Q1 26.2%
FY25 Q2 28.7%
FY25 Q3 27.3%
FY25 Q4 24.0%
FY26 Q1 21.1%
FY26 Q2 24.0%
FCF margin (TTM) Harmony Biosciences Holdings, Inc.
25% 30% 35% 40% 45% FY22 Q2 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY22 Q2: 35.8% FCF margin (TTM), FY22 Q3: 38.7% FCF margin (TTM), FY22 Q4: 33.0% FCF margin (TTM), FY24 Q2: 32.4% FCF margin (TTM), FY24 Q3: 32.3% FCF margin (TTM), FY24 Q4: 30.6% FCF margin (TTM), FY25 Q1: 29.7% FCF margin (TTM), FY25 Q2: 33.5% FCF margin (TTM), FY25 Q3: 35.9% FCF margin (TTM), FY25 Q4: 40.1% FCF margin (TTM), FY26 Q1: 38.0% FCF margin (TTM), FY26 Q2: 37.0% 37.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY22 Q2 35.8%
FY22 Q3 38.7%
FY22 Q4 33.0%
FY24 Q2 32.4%
FY24 Q3 32.3%
FY24 Q4 30.6%
FY25 Q1 29.7%
FY25 Q2 33.5%
FY25 Q3 35.9%
FY25 Q4 40.1%
FY26 Q1 38.0%
FY26 Q2 37.0%

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.

Where the money goes

FY2025, from the 10-K

Each dollar Harmony Biosciences Holdings took in during FY2025, followed through to profit: what it cost to make, what went on research and running the business, and what was left after tax.

  1. Revenue $868M
  2. Other income $6.6M · 0.8%
  3. Cost of revenue $198M · 22.8%
  4. Gross profit $670M · 77.2%
  5. Research and development $190M · 21.8%
  6. Selling, general and admin $272M · 31.3%
  7. Operating income $208M · 24.0%
  8. Income tax $56.4M · 6.5%
  9. Net income $159M · 18.3%

Shares of revenue. Source: Harmony Biosciences Holdings's 10-K for FY2025, as filed with the SEC. Other income is income outside operations, such as investment gains.

Financial statements

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

Fiscal year 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 6 160 305 438 582 715 868 960
Gross profit 4 132 250 354 461 558 670 724
EBITDA −146 17 88 121 193 191 — —
Operating income −146 17 88 120 192 191 208 231
Net income −152 −37 35 181 129 145 159 181
Diluted EPS −$24.07 −$2.48 $0.58 $2.97 $2.13 $2.51 $2.71 $3.09
Growth (year on year)
Revenue — +>999% +91.2% +43.4% +32.9% +22.8% +21.5% +24.3%
EBITDA — — +406.0% +37.1% +59.6% −0.8% — —
Operating income — — +415.3% +37.3% +59.8% −0.6% +9.2% +4.0%
Net income — — — +424.5% −29.0% +12.9% +9.1% +0.2%
Diluted EPS — — — +412.1% −28.3% +17.8% +8.0% −0.4%
Margins
Gross margin 73.7% 82.6% 81.8% 80.9% 79.2% 78.1% 77.2% 75.4%
EBITDA margin <−999% 10.9% 28.8% 27.5% 33.1% 26.7% — —
Operating margin <−999% 10.6% 28.7% 27.4% 33.0% 26.7% 24.0% 24.0%
Net margin <−999% −23.1% 11.3% 41.4% 22.1% 20.4% 18.3% 18.9%
Free-cash-flow margin <−999% −1.9% 32.2% 33.0% 37.6% 30.6% 40.1% 37.0%
Cash flow
Cash from operations −75 −3 99 144 219 220 348 355
Capital spending 0 0 0 0 0 1 0 0
Free cash flow −76 −3 98 144 219 219 348 355
Stock-based pay 10 5 16 26 32 43 45 41
Free cash flow after stock pay −85 −8 83 118 187 176 303 314
Balance sheet
Cash 24 229 234 244 312 453 753 550
Total debt 98 200 200 198 196 181 165 155
Net debt (negative = net cash) 73 −29 −35 −46 −115 −272 −588 −395
Diluted shares 8m 26m 59m 61m 60m 58m 59m 59m
Returned to shareholders
Buybacks — 0 — — 100 — — —
Total returned — 0 — — 100 — — —

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

7 of 7 checks passed · June 30, 2026
What it owns · $1.4bn
Short-term assets $814mLonger-term assets $559m
What it owes, and who funded it · $1.4bn
Short-term liabilities $234mLonger-term liabilities $140mShareholders' equity $999m
  • Short-term assets cover short-term liabilities $814m of assets due within a year against $234m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $814m short-term assets against $140m of longer-dated liabilities.
  • More cash than debt $550m of cash against $154m of debt.
  • Debt below 40% of shareholders' equity Debt is 15% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 102% to 15% over five years.
  • A year's operating cash flow covers at least 20% of debt $355m of operating cash flow against $154m of debt.
  • Operating profit covers interest at least five times over Operating income of $231m against $13m of interest.

From Harmony Biosciences Holdings, 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

Diluted share count
+0.6%
year over year
R&D spending
23.0%
of revenue
Days sales outstanding
42 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated HRMY ANIP AXSM SUPN PBH CORT Median
Revenue, last 12 months $960m $978m $865m $865m $1.1bn $831m $276m
Revenue growth, last 12 months 24.3% 30.9% 54.2% 26.9% −1.4% 16.0% 9.9%
Revenue growth, 3-year average 24.4% 34.6% 57.0% 12.3% −0.7% 24.7% 5.5%
Revenue growth, latest quarter 30.3% 25.9% 51.9% 18.0% 6.5% 31.7% 6.5%
Gross margin 75.4% 60.0% — 87.6% 53.5% 98.3% 62.0%
Operating margin 24.0% 15.4% −17.5% −5.7% 26.3% 0.8% −5.9%
Operating margin, 3-year average 26.6% 8.9% −48.6% −0.7% 28.6% 12.5% −7.4%
Net margin 18.9% 11.1% −18.2% −5.1% 15.6% 6.6% −7.3%
Cash from operations / revenue 37.0% 19.4% −9.5% 10.2% 22.6% 13.2% 10.2%
Free-cash-flow margin 37.0% 17.7% −9.5% 10.1% 21.3% 12.9% 8.6%
Free-cash-flow margin, 3-year average 34.3% 17.6% −22.3% 15.6% 22.4% 19.9% 7.4%
Stock pay / revenue 4.3% 4.2% 11.5% 4.1% 1.0% 10.7% 3.6%
Change in share count 0.6% 11.6% 4.7% 2.8% −3.6% −2.2% 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 24.3% 10.0% 19 of 74
Change in growth rate Growth +3.5pp -0.3pp 17 of 74
Gross margin Profitability 75.4% 59.8% 12 of 59
Operating margin Profitability 24.0% -5.9% 9 of 67
Net margin Profitability 18.9% -7.3% 10 of 75
Free-cash-flow margin Cash generation 37.0% 10.1% 5 of 74
Stock pay as % of revenue Cash generation 4.3% 3.6% 42 of 69
Long-term debt as % of assets Balance sheet 9.8% 23.8% 16 of 53
Change in share count Balance sheet 0.6% 1.5% 26 of 62
Days sales outstanding Balance sheet 42 days 72 days 10 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
$2B
Institutions reporting
326
Shares held vs prior quarter
▼ 3.2%
Positions opened / closed
47 / 33

Top buyers and sellers, Q2 2026: 178 institutions bought and 140 sold ; the biggest buyer was Valor Management LLC (+701K shares) and the biggest seller SG Americas Securities, LLC (−1.1M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $259M 7.1M 13.1% ▲ 0.5%
FMR LLC $130M 3.6M 6.6% ▲ 13.2%
Vanguard Portfolio Management LLC $105M 2.9M 5.3% ▲ 6.1%
American Century Companies Inc $92.5M 2.5M 4.7% ▲ 20.6%
Dimensional Fund Advisors LP $87.1M 2.4M 4.4% ▲ 15.3%
Vanguard Capital Management LLC $76.6M 2.1M 3.9% ▲ 0.1%
LSV Asset Management $75M 2.1M 3.8% ▲ 1.8%
State Street Corp $67.7M 1.9M 3.4% ▲ 4.2%
Armistice Capital, LLC $56.9M 1.6M 2.9% ▼ 3.7%
Geode Capital Management, LLC $52.5M 1.4M 2.7% ▲ 9.1%
Arrowstreet Capital, Limited Partnership $47.8M 1.3M 2.4% ▼ 5.0%
Renaissance Technologies LLC $43.5M 1.2M 2.2% ▲ 11.0%

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 Harmony Biosciences Holdings, Inc.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $6M 13 trades by 3 insiders · 100% under pre-set plans
Net ▼ $6M net selling
Insider Date Trade Shares Price Value
Budur Kumar CHIEF MEDICAL OFFICER September 18, 2026 Sell pre-set plan 35,852 $43.05 $1.5M
Budur Kumar CHIEF MEDICAL OFFICER September 17, 2026 Sell pre-set plan 800 $43.00 $34,400
Budur Kumar CHIEF MEDICAL OFFICER September 16, 2026 Sell pre-set plan 1,800 $43.01 $77,418
Budur Kumar CHIEF MEDICAL OFFICER September 8, 2026 Sell pre-set plan 4,500 $42.25 $190,125
Budur Kumar CHIEF MEDICAL OFFICER September 8, 2026 Sell pre-set plan 1,000 $42.79 $42,790
Budur Kumar CHIEF MEDICAL OFFICER September 8, 2026 Sell pre-set plan 22,954 $43.10 $989,317
Budur Kumar CHIEF MEDICAL OFFICER September 4, 2026 Sell pre-set plan 5,500 $41.98 $230,890
Kapadia Sandip CHIEF FINANCIAL OFFICER January 26, 2026 Sell pre-set plan 3,746 $37.15 $139,164
Kapadia Sandip CHIEF FINANCIAL OFFICER January 15, 2026 Sell pre-set plan 20,961 $35.92 $752,919
Dayno Jeffrey M. PRESIDENT, CEO December 12, 2025 Sell pre-set plan 20,000 $40.11 $802,200
Dayno Jeffrey M. PRESIDENT, CEO December 12, 2025 Sell pre-set plan 5,933 $40.11 $237,973
Kapadia Sandip CHIEF FINANCIAL OFFICER December 5, 2025 Sell pre-set plan 20,000 $39.54 $790,800

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

  • August 4, 2026
  • July 16, 2026
  • May 7, 2026
  • February 24, 2026
  • January 12, 2026
  • November 4, 2025

Recent SEC filings

Data status

When each part of this page on Harmony Biosciences Holdings, 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.

Harmony Biosciences Holdings, Inc. in brief

What does Harmony Biosciences Holdings, Inc. do?
Harmony Biosciences Holdings, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Harmony Biosciences Holdings, Inc.'s stock ticker?
Harmony Biosciences Holdings, Inc. trades under the ticker HRMY on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Harmony Biosciences Holdings, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Harmony Biosciences Holdings, Inc. reported revenue of $960M, 24.3% higher than a year earlier, according to its SEC filings.
What is Harmony Biosciences Holdings, Inc.'s free cash flow?
Harmony Biosciences Holdings, Inc.'s free-cash-flow margin is 37.0% of revenue over the trailing twelve months, ranking 5 of the 74 pharmaceuticals companies we cover.
Who are Harmony Biosciences Holdings, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., FMR LLC and Vanguard Portfolio Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Harmony Biosciences Holdings, Inc.'s market cap?
On November 2, 2026, Harmony Biosciences Holdings, Inc.'s market capitalisation was about $2.2B, with a price-to-earnings ratio of 12.3 and net debt of -$395M. Market figures come from third-party market data and may be delayed.
How much debt does Harmony Biosciences Holdings, Inc. have?
Harmony Biosciences Holdings, Inc.'s debt-to-equity ratio is 15.4%, from its latest balance sheet (101.9% five years earlier). The financial health section below sets out its other solvency checks.
Who are Harmony Biosciences Holdings, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Harmony Biosciences Holdings, Inc. are ANI Pharmaceuticals Inc, Axsome Therapeutics, Inc., Supernus Pharmaceuticals, Inc., Prestige Consumer Healthcare Inc. and Corcept Therapeutics Inc. The side-by-side comparison below sets their revenue, margins and growth against Harmony Biosciences Holdings, Inc.'s.
Are insiders buying or selling Harmony Biosciences Holdings, Inc. stock?
Over the last 12 months, Harmony Biosciences Holdings, Inc.'s directors and officers reported 0 open-market purchases and 13 sales on Form 4. The insider trading page charts every trade.
When is Harmony Biosciences Holdings, Inc.'s next earnings date?
Around November 4, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Harmony Biosciences Holdings, Inc. announces its own schedule.