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Jazz Pharmaceuticals plc (JAZZ) stock

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NASDAQ: JAZZ Nasdaq Pharmaceuticals Next results ~January 18, 2027

C+ Fundamentals grade

Jazz Pharmaceuticals plc 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

~$420

Cash-flow model

Base case. Range ~$310–$570 across our lower- and higher-growth cases (5.5%–15.5% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 97% above it.

Price used: $214.44, November 2, 2026

Jazz Pharmaceuticals plc 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, 11 selling0 purchases and 59 sales by directors and officers, last 12 monthsInsider trades
  • Funds367 adding, 242 cuttingOf 68 active managers that changed their stake, 34 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Jazz Pharmaceuticals files

10-Q filed November 2: Jazz Pharmaceuticals

Model value +13.7%

Jazz Pharmaceuticals grew revenue to $4.72bn over the twelve months to September 2026, up 13.5% on a year earlier and an acceleration from the 12.6% pace recorded a quarter before. Profitability improved alongside this: the free-cash-flow margin climbed to 34.4% from 32.1%, while the operating margin widened sharply to 9.0% from -11.9%. Shareholders face some dilution, however, with the diluted share count up 3.1% year on year. Despite these gains, the fundamentals grade slips from B to C+. Our model value increases from $369 to $420 a share, well above the current $216 price, and the rating remains Buy. At that price, the market appears to be pricing in cash flow shrinking by around 1.0% a year for five years, far more pessimistic than the 8.8% annual revenue growth the company has actually delivered.

Source: 10-Q filed November 2, 2026 on SEC EDGAR · Financials · Valuation

Earlier notes (1)

Where Jazz Pharmaceuticals Plc stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $4.60bn, up 12.6% on a year earlier, faster than 9.2% a quarter earlier. Free-cash-flow margin rose to 34.6% from 31.0% a year earlier. Operating margin widened to 19.5% from -7.1%. Against its peers on growth, profitability, cash generation and balance sheet, it grades B. It passes 3 of our 5 financial-health checks. Our cash-flow model value is $397 a share, against a share price of $212. At that price, our model says the market is pricing in cash flow shrinking about 0.2% a year for five years, slower than the 8.3% a year revenue growth it has delivered.

10-Q on SEC EDGAR

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 ~January 18, 2027 (estimated)

Jazz Pharmaceuticals plc's trailing-twelve-month revenue grew 13.5% year on year, with a free-cash-flow margin of 34.4%. Where it stands out: free-cash-flow margin of 34.4% ranks 6 of 74 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$420 per share in the base case (~$310–$570 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Results well short of expectations: Reported earnings per share missed the analysts' consensus estimate by 63% in the quarter to 2026-09-30.

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

  • Priced below our value. The share price of $214.44 is 97% below our value per share of $420.
  • Margins widening. Operating margin is up 20.9 points on a year ago.
  • Strong cash generation. 34.4% of revenue turned into free cash flow, against a median of 10.1% for pharmaceuticals companies we cover.

Things to watch

  • Share dilution. Diluted shares rose 3.1% in a year.
  • High earnings multiple. The shares trade at 68 times the last 12 months' earnings, so expectations are demanding.
  • Insiders selling. 11 insiders sold $70M of stock over the past 365 days and none bought (48% under pre-set trading plans).
  • Short interest rising. Shares sold short rose 25% in a month to 9.3% of tradable shares.
  • Missing expectations. Earnings per share fell short of the consensus estimate in 2 of the last four quarters.

Latest results: FY2026 Q3

Filed November 2, 2026
Earnings per share
-$3.88 against an average estimate of -$2.38: missed by 63.4%
Revenue
$1.24bn, up 10.4% on a year earlier
Share reaction
-3.4% in the first session after the results on October 26, 2026, against +1.3% for the S&P 500
Guidance given
2026 revenue guidance $4.6bn to $4.75bn (2026); gross margin % 89% to 90% (full-year 2026)
Next report
November 2, 2026; average EPS estimate $6.56

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

Price chart

  • 1 day-0.7%
  • 1 week+4.2%
  • 1 month-9.0%
  • This year+26.1%
  • 1 year+55.8%
  • 5 years+56.6%
  • 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)
$4.7B
Operating margin
9.0%
Net margin
4.4%
EPS (TTM, diluted)
$3.16

Growth

Revenue growth
+13.5%
Change in growth rate
+0.9 pts
Share count change
+3.1%

Cash

Free cash flow (TTM)
$1.6B
FCF margin
34.4%
Stock pay % of revenue
6.3%

Earnings

Last results
November 2, 2026
Next results (est.)
January 18, 2027

News & updates

Updated November 2, 2026

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

  1. Announcement
  2. Results
  3. Results
  4. Leadership
  5. Insider trade
  6. Agreement
  7. Announcement
  8. Insider trade
  9. Agreement
  10. Insider trade
  11. Announcement
  12. Agreement
  13. Announcement
  14. Results
  15. Insider trade
  16. Guidance
  17. Shareholder vote

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

Jazz Pharmaceuticals plc valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 0.2% a year for five years.That is slower than the 8.8% a year revenue growth Jazz Pharmaceuticals has delivered.

  • Priced in-0.2%
  • Last 12 months13.5%
  • 3 years a year7.5%
  • 5 years a year8.8%

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 ($228.25, 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
Buy12-month view
12-month price target
~$420
Price used
$228.25close November 3, 2026
Implied change
▲ +85%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Jazz Pharmaceuticals plc's free cash flow after stock-based pay with after-tax interest added back ($1.2B, FY2026 Q3 TTM), growing 6% and 8.9% in the next two years (forecasts, guidance and its record), then back to 10.5% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$310–~$570 ; that spread sets a 25% 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 Jazz Pharmaceuticals plc's free cash flow after stock-based pay ( $1.2B, FY2026 Q3 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 Jazz Pharmaceuticals plc as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.76 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. ~$420 ~$310–$570 Primary model, counts double
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. ~$220 ~$230–$460 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$20 ~$12–$35 Left out: out of range vs price (0.09x)
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity below long-run growth
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. ~$360 ~$220–$420 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Jazz Pharmaceuticals plc 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 ▼ −26%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −3%
  • Last year's free-cash-flow margin change, if it persists ▲ +7%
  • Discount rate 1 point higher ▼ −16%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $225$320$447$614$832$1113
8.5% $162$231$322$442$597$797
10% $124$178$248$339$458$609

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025Now
Share price$140.56$109.03$134.65$123.96$149.28$165.05$127.40$159.31$123.00$123.15$170.00$214.44
Market value$8.9bn$6.7bn$8.3bn$7.6bn$8.6bn$9.3bn$7.6bn$10.0bn$8.9bn$8.1bn$10.4bn$14.0bn
+ Net debt (− = net cash)$327m$1.8bn$1.4bn$1.5bn$1.1bn$1.3bn$5.8bn$4.9bn$4.3bn$3.8bn$4.0bn$3.6bn
Enterprise value$9.2bn$8.5bn$9.7bn$9.1bn$9.7bn$10.6bn$13.4bn$14.9bn$13.2bn$11.9bn$14.4bn$17.6bn
Multiples
Price / sales 6.7x4.5x5.1x4.0x4.0x3.9x2.5x2.7x2.3x2.0x2.4x3.0x
Price / earnings 26.9x17.0x16.9x17.0x16.4x39.1x——21.4x14.5x—67.8x
Price / free cash flow 17.9x11.6x12.4x9.7x11.7x10.5x10.1x8.0x8.3x6.0x8.0x8.6x
EV / EBITDA 17.7x14.1x17.9x14.4x17.8x26.8x68.1x—21.6x15.9x—38.1x

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

66 /100

Moderate moat

How hard Jazz Pharmaceuticals'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 19.1% of total assets over 9 years.

  • Pricing power 20 / 20

    Gross margin has been a median 92.2%, moving by 2.4 percentage points (standard deviation) across 10 years.

  • Durability 2 / 20

    Operating margin has been a median 11.0%; its worst year was -11.9%.

  • Cash conversion 20 / 20

    Free cash flow was positive in 10 of 10 years, at a median 33.6% of revenue.

  • Discipline 9 / 20

    The diluted share count rose 9.8% over five years; stock-based pay has been a median 5.9% 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 (70 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

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $15.49 +85% $4.7bn +11%
Next $25.20 +63% $5.0bn +6%

Next year's EPS estimate has moved −2.0% in 90 days, across 13 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −38.8% on 90 days ago. In the last 30 days, 1 analyst raised Jazz Pharmaceuticals plc's forecast and 4 cut it.

Consensus EPS forecast Jazz Pharmaceuticals plc, last 90 days
$15.00 $20.00 $25.00 $30.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: $25.31 Current fiscal year, 60 days ago: $25.03 Current fiscal year, 30 days ago: $24.36 Current fiscal year, 7 days ago: $15.77 Current fiscal year, Now: $15.49 $15.49 Next fiscal year, 90 days ago: $25.72 Next fiscal year, 60 days ago: $25.77 Next fiscal year, 30 days ago: $25.10 Next fiscal year, 7 days ago: $25.01 Next fiscal year, Now: $25.20 $25.20

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago $25.31$25.72
60 days ago $25.03$25.77
30 days ago $24.36$25.10
7 days ago $15.77$25.01
Now $15.49$25.20

Earnings against estimates

Quarter toEstimateActualSurprise
Sept 2026 −$2.38 −$3.88 −63.4%
Jun 2026 $6.18 $5.71 −7.5%
Mar 2026 $4.66 $6.34 +36.2%
Dec 2025 $6.51 $6.64 +2.0%

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

Management guidance

Earnings release, August 3, 2026
  • 2026 revenue guidance 2026 $4.6bn to $4.75bn Raised
    “Following strong 1H26 commercial execution, the company raised its 2026 revenue guidance range to $4.60 - $4.75 billion, reflecting anticipated double-digit YoY revenue growth from both Xywav and the combined epilepsy and oncology franchises.” source
  • Gross margin % full-year 2026 89% to 90% GAAP
    “Gross margin % 89% - 90% 89% - 90%” source
  • Gross margin % full-year 2026 90% to 91% Non-GAAP
    “Gross margin % 90% - 91% 1 90% - 91%” source
  • SG&A expenses full-year 2026 $1,506m to $1,556m GAAP
    “SG&A expenses $1,506 - $1,556 $1,424 - $1,497” source
  • R&D expenses full-year 2026 $818m to $873m GAAP
    “R&D expenses $818 - $873 $811 - $867” source
  • Effective tax rate full-year 2026 0% to 10% GAAP
    “Effective tax rate 0% - 10% 0% - 10%” source
Show 4 more items
  • Weighted-average diluted shares outstanding full-year 2026 69m to 70m
    “Weighted-average diluted shares outstanding 69 - 70 66 - 67” source
  • SG&A expenses full-year 2026 $1,330m to $1,370m Non-GAAP
    “SG&A expenses $1,330 - $1,370 1 $1,260 - $1,320” source
  • R&D expenses full-year 2026 $725m to $775m Non-GAAP
    “R&D expenses $725 - $775 1 $725 - $775” source
  • Effective tax rate full-year 2026 11.5% to 13.5% Non-GAAP
    “Effective tax rate 11.5% - 13.5% 1 11.5% - 13.5%” 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 Jazz Pharmaceuticals plc's revenue by +6.0% next year and +8.9% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+4.9%, weight 55%) , management guidance (+3.5%, weight 19%) and the company's own record (+10.5%, weight 26%) . How the weights are set.

Analyst recommendations

22 analysts, Nov 2026
Buy2091%
Hold29%
Sell00%

Monthly trend

  1. Nov 2026713222
  2. Oct 2026713222
  3. Sep 2026711220

Counts of recommendations published by analysts covering Jazz Pharmaceuticals plc, 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
9.3%
of tradable shares
Days to cover
6.86
at average volume
Short interest, 1 month
+25%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
2.9%
of shares
Employees
2,890
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 +55.8%

$137.64 on October 31, 2025 to $214.44

ThenNowEffect
Revenue (last 12 months) $4.1bn $4.6bn +12.6%
P/S multiple 2.1x 3.0x +40.1%
Share count 64m 64m −1.2%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years +62.4%

$132.06 on November 3, 2023 to $214.44

ThenNowEffect
Revenue (last 12 months) $3.8bn $4.6bn +22.3%
P/S multiple 2.4x 3.0x +26.0%
Share count 68m 64m +5.4%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

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
JAZZ−23%+25%−23%+0%+38%+26%
Industry peers (median)−18%−52%−13%−2%+7%−14%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
JAZZ42%67%33%50%58%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
JAZZ−36%−25%−29%−24%−32%−22%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 2, 2015: 52% from June 20, 2018 to March 23, 2020. Getting back needed a 109% gain, reached on June 10, 2021, 444 days after the low.

Price behaviour

52-week range
$131.16 – $261.62
From 52-week high
−18.0%
vs 50-day average
−7.2%
vs 200-day average
−1.1%
Volatility (1 year)
38%
Beta vs S&P 500
0.47

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
7 up, 4 down
typical move ±6.4%
After a week
7 up, 4 down
typical move ±5.0%
After a month
7 up, 3 down
typical move ±9.8%
Results releasedNext dayS&P 500 next day5 days21 days
October 26, 2026 −3.4% +1.3% +0.2% —
August 3, 2026 +3.5% +3.3% +1.4% −3.6%
May 5, 2026 +9.9% +2.2% +9.5% +15.4%
February 24, 2026 +13.6% +1.6% +7.7% +9.1%
January 12, 2026 +0.8% 0.0% +4.2% +3.2%
November 5, 2025 −2.7% −0.7% −0.8% +23.1%
August 5, 2025 −8.8% +0.3% −2.4% +10.3%
May 6, 2025 −14.2% −0.4% −12.9% −7.9%
February 25, 2025 +5.5% −0.4% +1.7% −4.3%
January 13, 2025 +1.3% +0.3% 0.0% +11.6%
November 6, 2024 +6.9% +3.3% +14.6% +10.0%

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.

Options strategies

All options ideas

How Jazz Pharmaceuticals plc’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.

Cash-secured put

Not offered: fundamentals grade B (needs B+ or better).

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: the shares trade below our fair value: a collar caps upside the model expects.

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.

Jazz Pharmaceuticals plc in five measures

Fundamentals grade C+
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) Jazz Pharmaceuticals plc
$3.5B $4B $4.5B $5B FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue (TTM), FY23 Q4: $3.8B Revenue (TTM), FY24 Q1: $3.8B Revenue (TTM), FY24 Q2: $3.9B Revenue (TTM), FY24 Q3: $4B Revenue (TTM), FY24 Q4: $4.1B Revenue (TTM), FY25 Q1: $4.1B Revenue (TTM), FY25 Q2: $4.1B Revenue (TTM), FY25 Q3: $4.2B Revenue (TTM), FY25 Q4: $4.3B Revenue (TTM), FY26 Q1: $4.4B Revenue (TTM), FY26 Q2: $4.6B Revenue (TTM), FY26 Q3: $4.7B $4.7B

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue (TTM)
FY23 Q4 $3.8B
FY24 Q1 $3.8B
FY24 Q2 $3.9B
FY24 Q3 $4B
FY24 Q4 $4.1B
FY25 Q1 $4.1B
FY25 Q2 $4.1B
FY25 Q3 $4.2B
FY25 Q4 $4.3B
FY26 Q1 $4.4B
FY26 Q2 $4.6B
FY26 Q3 $4.7B
Revenue growth, TTM YoY Jazz Pharmaceuticals plc
0% 5% 10% 15% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Revenue growth, TTM YoY, FY23 Q4: 4.8% Revenue growth, TTM YoY, FY24 Q1: 2.8% Revenue growth, TTM YoY, FY24 Q2: 3.9% Revenue growth, TTM YoY, FY24 Q3: 5.2% Revenue growth, TTM YoY, FY24 Q4: 6.1% Revenue growth, TTM YoY, FY25 Q1: 5.8% Revenue growth, TTM YoY, FY25 Q2: 4.5% Revenue growth, TTM YoY, FY25 Q3: 4.1% Revenue growth, TTM YoY, FY25 Q4: 4.9% Revenue growth, TTM YoY, FY26 Q1: 9.2% Revenue growth, TTM YoY, FY26 Q2: 12.6% Revenue growth, TTM YoY, FY26 Q3: 13.5% 13.5%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 4.8%
FY24 Q1 2.8%
FY24 Q2 3.9%
FY24 Q3 5.2%
FY24 Q4 6.1%
FY25 Q1 5.8%
FY25 Q2 4.5%
FY25 Q3 4.1%
FY25 Q4 4.9%
FY26 Q1 9.2%
FY26 Q2 12.6%
FY26 Q3 13.5%
Operating margin (TTM) Jazz Pharmaceuticals plc
-20% -10% 0% 10% 20% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 Operating margin (TTM), FY23 Q4: 15.1% Operating margin (TTM), FY24 Q1: 13.5% Operating margin (TTM), FY24 Q2: 14.3% Operating margin (TTM), FY24 Q3: 16.2% Operating margin (TTM), FY24 Q4: 17.6% Operating margin (TTM), FY25 Q1: 14.6% Operating margin (TTM), FY25 Q2: -7.1% Operating margin (TTM), FY25 Q3: -11.9% Operating margin (TTM), FY25 Q4: -10.1% Operating margin (TTM), FY26 Q1: -0.9% Operating margin (TTM), FY26 Q2: 19.5% Operating margin (TTM), FY26 Q3: 9.0% 9.0%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q4 15.1%
FY24 Q1 13.5%
FY24 Q2 14.3%
FY24 Q3 16.2%
FY24 Q4 17.6%
FY25 Q1 14.6%
FY25 Q2 -7.1%
FY25 Q3 -11.9%
FY25 Q4 -10.1%
FY26 Q1 -0.9%
FY26 Q2 19.5%
FY26 Q3 9.0%
FCF margin (TTM) Jazz Pharmaceuticals plc
25% 30% 35% 40% FY23 Q4 FY24 Q3 FY25 Q2 FY26 Q3 FCF margin (TTM), FY23 Q4: 27.9% FCF margin (TTM), FY24 Q1: 26.3% FCF margin (TTM), FY24 Q2: 26.7% FCF margin (TTM), FY24 Q3: 28.3% FCF margin (TTM), FY24 Q4: 33.4% FCF margin (TTM), FY25 Q1: 37.2% FCF margin (TTM), FY25 Q2: 31.0% FCF margin (TTM), FY25 Q3: 32.1% FCF margin (TTM), FY25 Q4: 30.4% FCF margin (TTM), FY26 Q1: 28.6% FCF margin (TTM), FY26 Q2: 34.6% FCF margin (TTM), FY26 Q3: 34.4% 34.4%

Source: SEC EDGAR filings. Retrieved November 2, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q4 27.9%
FY24 Q1 26.3%
FY24 Q2 26.7%
FY24 Q3 28.3%
FY24 Q4 33.4%
FY25 Q1 37.2%
FY25 Q2 31.0%
FY25 Q3 32.1%
FY25 Q4 30.4%
FY26 Q1 28.6%
FY26 Q2 34.6%
FY26 Q3 34.4%

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 2010 Dec 2010 2011 Dec 2011 2012 Dec 2012 2013 Dec 2013 2014 Dec 2014 2015 Dec 2015 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 Sept 2026
Income
Revenue 128 174 272 586 872 1,173 1,325 1,488 1,619 1,891 2,162 2,364 3,094 3,659 3,834 4,069 4,268 4,718
EBITDA 17 59 128 199 343 203 518 603 542 630 548 397 197 −35 609 749 −389 461
Operating income 16 58 128 198 340 196 508 592 529 615 532 378 170 −66 579 717 −430 426
Net income −7 33 125 289 216 58 330 397 488 447 523 239 −330 −224 415 560 −356 206
Diluted EPS −$0.23 $0.83 $2.67 $4.79 $3.51 $0.93 $5.23 $6.41 $7.96 $7.30 $9.09 $4.22 −$5.52 −$3.58 $6.10 $8.65 −$5.84 $3.16
Growth (year on year)
Revenue — +35.3% +56.7% +115.2% +48.9% +34.4% +13.0% +12.3% +8.8% +16.8% +14.3% +9.3% +30.9% +18.3% +4.8% +6.1% +4.9% +13.5%
EBITDA — +238.0% +118.5% +55.3% +72.4% −41.0% +155.6% +16.5% −10.2% +16.3% −13.1% −27.6% −50.4% −117.9% — +23.1% −151.9% —
Operating income — +262.8% +121.2% +54.8% +72.0% −42.5% +159.8% +16.4% −10.6% +16.3% −13.4% −29.0% −55.0% −138.5% — +23.9% −160.0% —
Net income — — +281.3% +130.9% −25.0% −73.0% +464.4% +20.4% +22.9% −8.4% +17.1% −54.4% −238.2% — — +35.0% −163.6% —
Diluted EPS — — +221.7% +79.4% −26.7% −73.5% +462.4% +22.6% +24.2% −8.3% +24.5% −53.6% −230.8% — — +41.8% −167.5% —
Margins
EBITDA margin 13.5% 33.8% 47.1% 34.0% 39.4% 17.3% 39.1% 40.6% 33.5% 33.3% 25.3% 16.8% 6.4% −1.0% 15.9% 18.4% −9.1% 9.8%
Operating margin 12.4% 33.3% 46.9% 33.8% 39.0% 16.7% 38.4% 39.8% 32.7% 32.5% 24.6% 16.0% 5.5% −1.8% 15.1% 17.6% −10.1% 9.0%
Net margin −5.3% 18.9% 45.9% 49.2% 24.8% 5.0% 24.9% 26.7% 30.1% 23.6% 24.2% 10.1% −10.7% −6.1% 10.8% 13.8% −8.3% 4.4%
Free-cash-flow margin −12.4% 33.5% 55.2% 41.6% 31.9% 31.7% 37.4% 39.2% 41.0% 41.2% 34.1% 37.4% 24.3% 34.0% 27.9% 33.4% 30.4% 34.4%
Cash flow
Cash from operations −16 59 152 250 288 408 532 592 693 799 776 900 779 1,272 1,092 1,396 1,356 1,692
Capital spending 0 1 1 6 10 36 36 10 29 20 40 15 28 29 24 38 59 71
Free cash flow −16 58 150 244 278 371 496 583 664 779 736 885 751 1,243 1,068 1,358 1,297 1,622
Stock-based pay 6 8 21 23 45 70 92 99 107 102 111 121 189 222 227 248 291 296
Free cash flow after stock pay −22 50 130 221 234 302 404 484 557 676 626 764 562 1,021 841 1,110 1,006 1,326
Balance sheet
Cash 16 45 82 387 637 684 989 366 386 310 637 1,058 591 881 1,506 2,413 1,392 2,036
Total debt 0 48 0 457 550 1,472 1,316 2,138 1,827 1,801 1,768 2,378 6,395 5,829 5,798 6,192 5,411 5,637
Net debt (negative = net cash) −16 3 −82 70 −87 788 327 1,772 1,441 1,491 1,130 1,320 5,804 4,947 4,291 3,779 4,019 3,601
Diluted shares 30m 39m 47m 60m 62m 63m 63m 62m 61m 61m 58m 57m 60m 63m 72m 66m 61m 65m
Returned to shareholders
Buybacks — — 0 0 136 42 62 278 99 524 301 147 0 0 270 311 125 —
Total returned — — 0 0 136 42 62 278 99 524 301 147 0 0 270 311 125 —

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

3 of 5 checks passed · September 30, 2026
What it owns · $12.0bn
Short-term assets $4.6bnLonger-term assets $7.4bn
What it owes, and who funded it · $6.7bn
Short-term liabilities $2.5bnShareholders' equity $4.2bn
  • Short-term assets cover short-term liabilities $4.6bn of assets due within a year against $2.5bn of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $2.0bn of cash against $5.6bn of debt.
  • Debt below 40% of shareholders' equity Debt is 133% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 166% to 133% over five years.
  • A year's operating cash flow covers at least 20% of debt $1.7bn of operating cash flow against $5.6bn of debt.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Jazz Pharmaceuticals plc'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

Buybacks, last 3 fiscal years
$706M
Diluted share count
+3.1%
year over year
R&D spending
17.6%
of revenue
Sales & admin spending
33.0%
of revenue
Days sales outstanding
68 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated JAZZ ELAN OGN AMRX RPRX ZTS Median
Revenue, last 12 months $4.7bn $5.0bn $6.1bn $3.1bn $2.5bn $9.5bn $276m
Revenue growth, last 12 months 13.5% 12.0% −3.2% 9.3% 10.0% 1.5% 9.9%
Revenue growth, 3-year average 7.5% 5.1% −0.3% 10.5% 2.4% 5.0% 5.5%
Revenue growth, latest quarter 10.4% 10.2% −1.7% 9.9% 16.5% −0.2% 6.5%
Gross margin 93.0% 55.4% 53.1% 39.3% — 71.5% 62.0%
Operating margin 9.0% — — 14.6% 59.6% — −5.9%
Operating margin, 3-year average 4.5% — — 11.5% 60.8% — −7.4%
Net margin 4.4% −4.0% 3.5% 5.0% 32.1% 27.5% −7.3%
Cash from operations / revenue 35.9% 12.3% 13.8% 6.4% 117.4% 29.8% 10.2%
Free-cash-flow margin 34.4% 7.5% 11.1% 4.1% 117.2% 24.3% 8.6%
Free-cash-flow margin, 3-year average 31.6% 8.4% 11.7% 7.4% — 24.0% 7.4%
Stock pay / revenue 6.3% 1.4% 1.2% 1.1% 16.9% 1.0% 3.6%
Change in share count 3.1% 0.0% 2.4% 4.3% −3.9% −4.2% 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 13.5% 10.0% 30 of 74
Change in growth rate Growth +0.9pp -0.3pp 33 of 74
Operating margin Profitability 9.0% -5.9% 22 of 67
Net margin Profitability 4.4% -7.3% 29 of 75
Free-cash-flow margin Cash generation 34.4% 10.1% 6 of 74
Stock pay as % of revenue Cash generation 6.3% 3.6% 48 of 69
Long-term debt as % of assets Balance sheet 37.9% 23.8% 35 of 53
Change in share count Balance sheet 3.1% 1.5% 41 of 62
Days sales outstanding Balance sheet 68 days 72 days 24 of 59

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

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Product and Services Product Sales Net of Deductions $4B 95.3% ▲ 5.3%
Total Neuroscience $2.9B 71.6% ▲ 6.7%
Total Oncology $1.1B 28.1% ▲ 1.6%
Defitelio Defibrotide $199M 4.7% ▼ 7.9%
Geography
Region Revenue Share YoY
United States $3.8B 89.8% ▲ 4.7%
Europe $341M 8.0% ▲ 9.1%
Other Countries $94.9M 2.2% ▼ 1.3%

From Jazz Pharmaceuticals plc's 10-K filed February 24, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$15.5B
Institutions reporting
640
Shares held vs prior quarter
▼ 1.0%
Positions opened / closed
126 / 56

Top buyers and sellers, Q2 2026: 367 institutions bought and 242 sold ; the biggest buyer was FMR LLC (+2.3M shares) and the biggest seller Ecor1 Capital, LLC (−1.7M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $1.4B 6.0M 9.3% ▲ 6.7%
FMR LLC $1.1B 4.6M 7.2% ▲ 102.5%
Vanguard Portfolio Management LLC $732M 3.0M 4.7% ▲ 1.8%
Vanguard Capital Management LLC $658M 2.7M 4.2% ▲ 3.1%
Capital World Investors $650M 2.7M 4.2% ▲ 0.9%
LSV Asset Management $548M 2.3M 3.5% ▼ 4.7%
Franklin Resources Inc $492M 2.0M 3.2% ▲ 4.2%
State Street Corp $482M 2.0M 3.1% ▲ 5.7%
Dimensional Fund Advisors LP $413M 1.7M 2.7% ▼ 9.6%
Fuller & Thaler Asset Management, Inc. $395M 1.6M 2.5% ▼ 2.2%
Bank Of New York Mellon Corp $380M 1.6M 2.5% ▼ 6.0%
AQR Capital Management LLC $360M 1.5M 2.3% ▲ 13.8%

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 Jazz Pharmaceuticals plc'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 → $69.8M 59 trades by 11 insiders · 48% under pre-set plans
Net ▼ $69.8M net selling
Insider Date Trade Shares Price Value
Gala Renee D President & CEO October 6, 2026 Sell pre-set plan 2,000 $236.40 $472,800
Cozadd Bruce C Director October 1, 2026 Sell pre-set plan 6,000 $230.33 $1.4M
Patil Neena M EVP & Chief Legal Officer September 10, 2026 Sell pre-set plan 1,200 $240.94 $289,128
Gala Renee D President & CEO September 8, 2026 Sell pre-set plan 2,000 $243.03 $486,060
Cozadd Bruce C Director September 1, 2026 Sell pre-set plan 6,000 $250.13 $1.5M
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 19,639 $250.60 $4.9M
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 300 $252.76 $75,828
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 9,259 $251.95 $2.3M
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 18,113 $250.02 $4.5M
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 11,423 $248.67 $2.8M
Iannone Robert EVP, Global Head of R&D & CMO August 27, 2026 Sell pre-set plan 18,187 $247.86 $4.5M
Cozadd Bruce C Director August 3, 2026 Sell pre-set plan 6,000 $252.98 $1.5M

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.

Trades by members of Congress

All 7 trades and filings

No trades in Jazz Pharmaceuticals plc disclosed in the last 12 months; 7 earlier trades on record.

  • Daniel S. Goldman(D-NY 10):Sale (full), $15,001 - $50,000, traded July 12, 2023, filed August 13, 2023
  • Daniel S. Goldman(D-NY 10):Purchase, $15,001 - $50,000, traded March 6, 2023, filed April 17, 2023
  • Daniel S. Goldman(D-NY 10):Sale (full), $1,001 - $15,000, traded January 31, 2023, filed February 24, 2023

Value ranges as filed; reports can arrive up to 45 days after a trade.

Earnings dates and SEC filings

Results announcements

Next expected around January 18, 2027 estimated from the company's past filing pattern, not announced

  • November 2, 2026
  • October 26, 2026
  • August 3, 2026
  • May 5, 2026
  • February 24, 2026
  • January 12, 2026

Recent SEC filings

Data status

When each part of this page on Jazz Pharmaceuticals plc 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.

Jazz Pharmaceuticals plc in brief

What does Jazz Pharmaceuticals plc do?
Jazz Pharmaceuticals plc is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Jazz Pharmaceuticals plc's stock ticker?
Jazz Pharmaceuticals plc trades under the ticker JAZZ on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Jazz Pharmaceuticals plc's revenue, and how fast is it growing?
Over its most recent trailing twelve months, Jazz Pharmaceuticals plc reported revenue of $4.7B, 13.5% higher than a year earlier, according to its SEC filings.
What is Jazz Pharmaceuticals plc's free cash flow?
Jazz Pharmaceuticals plc's free-cash-flow margin is 34.4% of revenue over the trailing twelve months, ranking 6 of the 74 pharmaceuticals companies we cover.
What is Jazz Pharmaceuticals plc's fair value (intrinsic value) per share?
Our discounted-cash-flow model of Jazz Pharmaceuticals plc's free cash flow after stock-based pay gives ~$420 per share in the base case, and ~$310–$570 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Jazz Pharmaceuticals plc'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 Jazz Pharmaceuticals plc's market cap?
On November 2, 2026, Jazz Pharmaceuticals plc's market capitalisation was about $14B, with a price-to-earnings ratio of 67.8 and net debt of $3.6B. Market figures come from third-party market data and may be delayed.
How much debt does Jazz Pharmaceuticals plc have?
Jazz Pharmaceuticals plc's debt-to-equity ratio is 132.9%, from its latest balance sheet (166.1% five years earlier). The financial health section below sets out its other solvency checks.
Who are Jazz Pharmaceuticals plc's competitors?
In our Pharmaceuticals peer group, the companies closest to Jazz Pharmaceuticals plc are Elanco Animal Health Inc, Organon & Co., Amneal Pharmaceuticals, Inc., Royalty Pharma plc and Zoetis. The side-by-side comparison below sets their revenue, margins and growth against Jazz Pharmaceuticals plc's.
Are insiders buying or selling Jazz Pharmaceuticals plc stock?
Over the last 12 months, Jazz Pharmaceuticals plc's directors and officers reported 0 open-market purchases and 59 sales on Form 4. The insider trading page charts every trade.
When is Jazz Pharmaceuticals plc's next earnings date?
Around January 18, 2027, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Jazz Pharmaceuticals plc announces its own schedule.