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Puma Biotechnology, Inc. (PBYI) stock

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NASDAQ: PBYI Nasdaq Biotechnology Next results ~November 5, 2026

B Fundamentals grade

Puma Biotechnology, Inc. is a US-listed company in the biotechnology 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

~$14

Cash-flow model

Base case. Range ~$11–$19 across our lower- and higher-growth cases (-3%–7% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 42% above it.

Price used: $10.18, November 2, 2026

Puma Biotechnology, 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, 10 selling0 purchases and 17 sales by directors and officers, last 12 monthsInsider trades
  • Funds81 adding, 66 cuttingOf 29 active managers that changed their stake, 15 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Puma Biotechnology files

Where Puma Biotechnology stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $231m, down 2.9% on a year earlier, about the same pace as a quarter earlier. Free-cash-flow margin held at 17.8%. Operating margin narrowed to 13.2% from 19.3%. The diluted share count is up 3.0% on a year earlier, which dilutes existing holders. It passes 6 of our 6 financial-health checks. Our cash-flow model value is $12.11 a share, against a share price of $10.52.

Source: 10-Q filed August 6, 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 5, 2026 (estimated)

Puma Biotechnology, Inc.'s trailing-twelve-month revenue fell 2.9% year on year, with a free-cash-flow margin of 17.8%. Where it stands out: long-term debt as % of assets of 0.0% ranks 1 of 78 biotechnology companies we cover.

Our discounted-cash-flow model values the business at ~$14 per share in the base case (~$11–$19 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 186% in the quarter to 2026-06-30, the 4th 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

  • Priced below our value. The share price of $10.18 is 42% below our value per share of $14.
  • Net cash. Cash exceeds long-term debt by $0.0bn.
  • Beating expectations. Earnings per share beat the analysts' consensus estimate in each of the last four quarters.

Things to watch

  • Results due soon. Results are expected around 5 November; the share price can move sharply on the day.
  • Revenue shrinking. Revenue fell 2.9% over the last 12 months.
  • Margins narrowing. Operating margin is down 6.2 points on a year ago.
  • Share dilution. Diluted shares rose 3.0% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 58% and a beta of 0.6 against the S&P 500.
  • Heavily shorted. 10.3% of the shares available to trade are sold short (13.8 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 6, 2026
Earnings per share
$0.20 against an average estimate of $0.07: beat by 185.7%
Revenue
$57m, up 7.8% on a year earlier
Share reaction
+11.5% in the first session after the results on August 6, 2026, against +0.5% for the S&P 500
Next report
November 5, 2026

Puma Biotechnology's figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-2.5%
  • 1 week-6.2%
  • 1 month+7.0%
  • This year+71.1%
  • 1 year+99.6%
  • 5 years+54.7%
  • 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)
$231M
Operating margin
13.2%
Net margin
11.6%
EPS (TTM, diluted)
$0.52

Growth

Revenue growth
−2.9%
Change in growth rate
−0.5 pts
Share count change
+3.0%

Cash

Free cash flow (TTM)
$41.2M
FCF margin
17.8%
Stock pay % of revenue
3.1%

Earnings

Last results
August 6, 2026
Next results (est.)
November 5, 2026

News & updates

Updated October 31, 2026

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

  1. 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

Puma Biotechnology, Inc. valuation models and calculator

What the price is pricing in

The share price implies cash flow shrinking about 4.8% a year for five years.That is close to the -1.8% a year revenue growth Puma Biotechnology has delivered.

  • Priced in-4.8%
  • Last 12 months-2.9%
  • 3 years a year0.2%
  • 5 years a year-1.8%

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 ($10.36, 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
~$14
Price used
$10.36close November 3, 2026
Implied change
▲ +40%
Uncertainty
Medium

How we got here: a discounted-cash-flow model of Puma Biotechnology, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($38.9M, FY2026 Q2 TTM), growing 2% a year for five years and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$11–~$19 ; 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 Puma Biotechnology, Inc.'s free cash flow after stock-based pay ( $38.9M, 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 Puma Biotechnology, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.1%: the 10-year Treasury yield (4.9%) plus a beta of 0.92 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. ~$14 ~$11–$19 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. ~$4.7 ~$3.7–$11 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: the model gives no positive value
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
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. ~$11 ~$4.7–$14 2 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Puma Biotechnology, Inc. with Biotechnology 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 ▼ −5%
  • Last year's free-cash-flow margin change, if it persists ▼ −3%
  • Discount rate 1 point higher ▼ −13%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $13$17$22$29$38$49
8.5% $10$13$17$22$28$36
10% $9$11$14$18$22$29

Valuation multiples over time Market data may be delayed

At fiscal year end 201720182019202020212022202320242025Now
Share price$98.85$20.35$8.75$10.26$3.04$4.23$4.33$3.05$5.95$10.18
Market value$3.7bn$772m$339m$406m$124m$190m$206m$150m$301m$524m
+ Net debt (− = net cash)−$32m$47m$40m$15m$39m$26m$17m$33m−$7m−$37m
Enterprise value$3.6bn$819m$379m$421m$162m$216m$223m$183m$294m$488m
Multiples
Price / sales 132.7x3.1x1.2x1.8x0.5x0.8x0.9x0.6x1.3x2.3x
Price / earnings —————n/m9.5x4.9x9.7x19.6x
Price / free cash flow ——15.4xn/m6.0x—7.7x3.9x7.2x12.7x
EV / EBITDA ————12.9x6.4x5.1x4.3x6.1x12.7x

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

47 /100

Moderate moat

How hard Puma Biotechnology's competitive advantage looks for rivals to wear away, judged from 9 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 38.7% of total assets over 7 years.

  • Pricing power 18 / 20

    Gross margin has been a median 75.5%, moving by 4.2 percentage points (standard deviation) across 7 years.

  • Durability 0 / 20

    Operating margin has been a median 4.4%; its worst year was -142.0%.

  • Discipline 4 / 20

    The diluted share count rose 28.0% over five years; stock-based pay has been a median 7.2% 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 (52 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 5, 2026, after the close.

Analysts' consensus

No analyst estimates are published for Puma Biotechnology, Inc.: too few analysts cover it.

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.07 $0.20 +185.7%
Mar 2026 −$0.13 −$0.04 +69.2%
Dec 2025 $0.23 $0.29 +26.1%
Sept 2025 $0.09 $0.21 +133.3%

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

Analyst recommendations

1 analysts, Oct 2026
Buy00%
Hold1100%
Sell00%

Monthly trend

  1. Oct 202611

Counts of recommendations published by analysts covering Puma Biotechnology, 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
10.3%
of tradable shares
Days to cover
13.75
at average volume
Short interest, 1 month
+5%
to October 15, 2026
Held by institutions
76%
of shares
Held by insiders
15.4%
of shares
Employees
179
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 +99.6%

$5.10 on October 31, 2025 to $10.18

ThenNowEffect
Revenue (last 12 months) $238m $231m −2.9%
Net margin 20.4% 11.6% −43.2%
P/E multiple 5.3x 19.6x +272.9%
Share count 50m 52m −2.9%

Biggest factor: p/e multiple.

Last 3 years +266.2%

$2.78 on November 3, 2023 to $10.18

ThenNowEffect
Revenue (last 12 months) $230m $231m +0.5%
P/S multiple 0.6x 2.3x +302.5%
Share count 47m 52m −9.5%

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
PBYI−70%+39%+2%−30%+95%+71%
Industry peers (median)−35%−57%−18%−28%−5%−27%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
PBYI33%33%58%50%58%64%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
PBYI−79%−50%−54%−70%−27%−26%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 99% from November 8, 2017 to May 11, 2022. Getting back needed a 7976% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$4.73 – $11.26
From 52-week high
−9.6%
vs 50-day average
+3.5%
vs 200-day average
+28.3%
Volatility (1 year)
59%
Beta vs S&P 500
0.60

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, 5 down
typical move ±11.2%
After a week
6 up, 6 down
typical move ±15.5%
After a month
6 up, 6 down
typical move ±21.1%
Results releasedNext dayS&P 500 next day5 days21 days
August 6, 2026 +11.5% +0.5% +9.0% +19.5%
May 7, 2026 +0.5% +0.5% −3.5% −8.1%
February 26, 2026 −25.8% −1.0% −18.9% −20.8%
November 6, 2025 +21.0% −1.0% 0.0% +9.1%
August 7, 2025 +13.5% +0.7% +63.7% +40.3%
May 8, 2025 −2.7% +0.6% +9.7% +20.4%
February 27, 2025 +29.2% −0.1% +30.7% +13.4%
November 7, 2024 −5.9% +1.2% −2.3% −4.6%
August 1, 2024 +6.7% −3.3% +6.7% −30.4%
May 2, 2024 −1.8% +2.2% −3.2% −23.4%
February 29, 2024 −10.8% +1.3% −12.9% −20.0%
November 2, 2023 +4.9% +2.8% +24.9% +43.4%

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 Puma Biotechnology, 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.

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.

Puma Biotechnology, 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) Puma Biotechnology, Inc.
$210M $220M $230M $240M $250M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $229.1M Revenue (TTM), FY23 Q4: $235.6M Revenue (TTM), FY24 Q1: $226.6M Revenue (TTM), FY24 Q2: $219.1M Revenue (TTM), FY24 Q3: $243.6M Revenue (TTM), FY24 Q4: $230.5M Revenue (TTM), FY25 Q1: $232.7M Revenue (TTM), FY25 Q2: $238.1M Revenue (TTM), FY25 Q3: $212M Revenue (TTM), FY25 Q4: $228.4M Revenue (TTM), FY26 Q1: $227.2M Revenue (TTM), FY26 Q2: $231.2M $231.2M

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

View chart data
Period Revenue (TTM)
FY23 Q3 $229.1M
FY23 Q4 $235.6M
FY24 Q1 $226.6M
FY24 Q2 $219.1M
FY24 Q3 $243.6M
FY24 Q4 $230.5M
FY25 Q1 $232.7M
FY25 Q2 $238.1M
FY25 Q3 $212M
FY25 Q4 $228.4M
FY26 Q1 $227.2M
FY26 Q2 $231.2M
Revenue growth, TTM YoY Puma Biotechnology, Inc.
-20% -10% 0% 10% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 5.2% Revenue growth, TTM YoY, FY23 Q4: 3.3% Revenue growth, TTM YoY, FY24 Q1: -3.6% Revenue growth, TTM YoY, FY24 Q2: -4.8% Revenue growth, TTM YoY, FY24 Q3: 6.3% Revenue growth, TTM YoY, FY24 Q4: -2.2% Revenue growth, TTM YoY, FY25 Q1: 2.7% Revenue growth, TTM YoY, FY25 Q2: 8.6% Revenue growth, TTM YoY, FY25 Q3: -13.0% Revenue growth, TTM YoY, FY25 Q4: -0.9% Revenue growth, TTM YoY, FY26 Q1: -2.4% Revenue growth, TTM YoY, FY26 Q2: -2.9% -2.9%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 5.2%
FY23 Q4 3.3%
FY24 Q1 -3.6%
FY24 Q2 -4.8%
FY24 Q3 6.3%
FY24 Q4 -2.2%
FY25 Q1 2.7%
FY25 Q2 8.6%
FY25 Q3 -13.0%
FY25 Q4 -0.9%
FY26 Q1 -2.4%
FY26 Q2 -2.9%
Operating margin (TTM) Puma Biotechnology, Inc.
5% 10% 15% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 12.2% Operating margin (TTM), FY23 Q4: 13.9% Operating margin (TTM), FY24 Q1: 11.5% Operating margin (TTM), FY24 Q2: 8.6% Operating margin (TTM), FY24 Q3: 13.3% Operating margin (TTM), FY24 Q4: 13.4% Operating margin (TTM), FY25 Q1: 16.0% Operating margin (TTM), FY25 Q2: 19.3% Operating margin (TTM), FY25 Q3: 15.8% Operating margin (TTM), FY25 Q4: 16.3% Operating margin (TTM), FY26 Q1: 13.0% Operating margin (TTM), FY26 Q2: 13.2% 13.2%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 12.2%
FY23 Q4 13.9%
FY24 Q1 11.5%
FY24 Q2 8.6%
FY24 Q3 13.3%
FY24 Q4 13.4%
FY25 Q1 16.0%
FY25 Q2 19.3%
FY25 Q3 15.8%
FY25 Q4 16.3%
FY26 Q1 13.0%
FY26 Q2 13.2%
FCF margin (TTM) Puma Biotechnology, Inc.
-100% -50% 0% 50% FY18 Q2 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY18 Q2: -79.3% FCF margin (TTM), FY18 Q3: -33.5% FCF margin (TTM), FY18 Q4: -9.8% FCF margin (TTM), FY24 Q2: 15.2% FCF margin (TTM), FY24 Q3: 13.8% FCF margin (TTM), FY24 Q4: 16.9% FCF margin (TTM), FY25 Q1: 13.4% FCF margin (TTM), FY25 Q2: 18.6% FCF margin (TTM), FY25 Q3: 20.2% FCF margin (TTM), FY25 Q4: 18.3% FCF margin (TTM), FY26 Q1: 23.6% FCF margin (TTM), FY26 Q2: 17.8% 17.8%

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

View chart data
Period FCF margin (TTM)
FY18 Q2 -79.3%
FY18 Q3 -33.5%
FY18 Q4 -9.8%
FY24 Q2 15.2%
FY24 Q3 13.8%
FY24 Q4 16.9%
FY25 Q1 13.4%
FY25 Q2 18.6%
FY25 Q3 20.2%
FY25 Q4 18.3%
FY26 Q1 23.6%
FY26 Q2 17.8%

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

Where the money goes

FY2025, from the 10-K

Each dollar Puma Biotechnology 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 $228M
  2. Cost of revenue $58.2M · 25.5%
  3. Gross profit $170M · 74.5%
  4. Research and development $62.1M · 27.2%
  5. Selling, general and admin $70.8M · 31.0%
  6. Operating income $37.3M · 16.3%
  7. Income tax $4.7M · 2.0%
  8. Interest and other $1.5M · 0.7%
  9. Net income $31.1M · 13.6%

Shares of revenue. Source: Puma Biotechnology's 10-K for FY2025, as filed with the SEC. "Other" lines are what the reported lines leave unexplained.

Financial statements

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

Fiscal year 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 28 251 272 225 253 228 236 230 228 231
Gross profit 22 216 235 186 189 173 173 166 170 173
EBITDA −290 −87 −31 −20 13 34 44 42 48 38
Operating income −292 −95 −39 −30 1 24 33 31 37 30
Net income −292 −114 −76 −60 −29 0 22 30 31 27
Diluted EPS −$7.85 −$2.99 −$1.95 −$1.52 −$0.72 $0.00 $0.45 $0.62 $0.61 $0.52
Growth (year on year)
Revenue — +806.6% +8.5% −17.3% +12.5% −9.9% +3.3% −2.2% −0.9% −2.9%
EBITDA — — — — — +166.5% +31.6% −3.8% +13.5% −26.2%
Operating income — — — — — — +37.6% −5.1% +20.5% −33.9%
Net income — — — — — — — +40.2% +2.8% −44.9%
Diluted EPS — — — — — — — +37.8% −1.6% −46.5%
Margins
Gross margin 79.9% 86.2% 86.5% 82.5% 74.8% 75.8% 73.4% 72.1% 74.5% 74.8%
EBITDA margin <−999% −34.8% −11.4% −9.0% 5.0% 14.7% 18.7% 18.4% 21.1% 16.6%
Operating margin <−999% −37.7% −14.3% −13.5% 0.5% 10.4% 13.9% 13.4% 16.3% 13.2%
Net margin <−999% −45.3% −27.8% −26.7% −11.5% 0.0% 9.2% 13.1% 13.6% 11.6%
Free-cash-flow margin −624.5% −9.8% 8.1% 0.3% 8.2% −6.9% 11.4% 16.9% 18.3% 17.8%
Cash flow
Cash from operations −172 −24 22 1 21 −16 27 39 42 41
Capital spending 0 0 0 0 0 0 0 0 0 −0
Free cash flow −173 −25 22 1 21 −16 27 39 42 41
Stock-based pay 109 87 57 37 33 12 10 8 7 7
Free cash flow after stock pay −282 −111 −35 −36 −12 −28 17 31 35 34
Balance sheet
Cash 82 108 60 85 63 76 85 69 30 37
Total debt 50 155 100 100 102 102 102 102 23 0
Net debt (negative = net cash) −32 47 40 15 39 26 17 33 −7 −37
Diluted shares 37m 38m 39m 40m 41m 45m 48m 49m 51m 52m

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

6 of 6 checks passed · June 30, 2026
What it owns · $193m
Short-term assets $145mLonger-term assets $48m
What it owes, and who funded it · $193m
Short-term liabilities $50mLonger-term liabilities $4mShareholders' equity $139m
  • Short-term assets cover short-term liabilities $145m of assets due within a year against $50m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $145m short-term assets against $4m of longer-dated liabilities.
  • More cash than debt $37m of cash against $0 of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • 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 No debt to cover.
  • Operating profit covers interest at least five times over Operating income of $30m against $4m of interest.

From Puma Biotechnology, 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
+3.0%
year over year
R&D spending
30.9%
of revenue
Sales & admin spending
30.8%
of revenue
Days sales outstanding
54 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated PBYI IDYA ANAB RYTM AKBA LGND Median
Revenue, last 12 months $231m $234m $238m $240m $219m $254m $56m
Revenue growth, last 12 months −2.9% −70.1% 92.9% 53.5% 7.5% 1.0% 12.6%
Revenue growth, 3-year average 0.2% 94.0% 163.9% 76.3% 2.9% 18.2% 13.7%
Revenue growth, latest quarter 7.8% 55.4% 23.5% 46.9% −21.4% −31.8% 10.2%
Gross margin 74.8% — — 89.0% 79.6% 91.9% 82.9%
Operating margin 13.2% −92.7% 131.7% −83.6% −6.9% 10.1% −189.4%
Operating margin, 3-year average 13.7% −425.5% −108.0% −152.7% −8.9% 2.2% −363.5%
Net margin 11.6% −74.8% 82.4% −85.6% −13.5% 20.3% −169.8%
Cash from operations / revenue 17.8% −47.7% 7.6% −43.9% 19.0% 35.9% −168.0%
Free-cash-flow margin 17.8% −48.6% 1.9% −43.9% 18.4% 35.7% −162.4%
Free-cash-flow margin, 3-year average 17.2% −375.3% −226.6% −79.7% −1.7% 32.4% −310.0%
Stock pay / revenue 3.1% 23.6% −2.7% 36.4% 6.1% 22.3% 20.0%
Change in share count 3.0% 2.1% −2.5% 8.1% 11.8% 6.1% 8.2%

Median of all 184 companies we cover in biotechnology. 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

184 biotechnology companies
Measure Company Peer median Rank
Revenue growth Growth -2.9% 12.6% 111 of 172
Change in growth rate Growth -0.5pp -0.1pp 89 of 172
Gross margin Profitability 74.8% 82.4% 48 of 75
Operating margin Profitability 13.2% -189.4% 26 of 175
Net margin Profitability 11.6% -157.3% 29 of 180
Free-cash-flow margin Cash generation 17.8% -145.4% 27 of 176
Stock pay as % of revenue Cash generation 3.1% 19.2% 21 of 179
Long-term debt as % of assets Balance sheet 0.0% 20.6% 1 of 78
Change in share count Balance sheet 3.0% 7.9% 56 of 156
Days sales outstanding Balance sheet 54 days 75 days 34 of 100

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
Products $204M 89.4% ▲ 4.6%
Royalty $24.3M 10.6% ▼ 31.1%

From Puma Biotechnology, Inc.'s 10-K filed February 26, 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
$314M
Institutions reporting
161
Shares held vs prior quarter
▲ 2.1%
Positions opened / closed
21 / 15

Top buyers and sellers, Q2 2026: 81 institutions bought and 66 sold ; the biggest buyer was LSV Asset Management (+435K shares) and the biggest seller Millennium Management LLC (−875K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Acorn Capital Advisors, LLC $33.5M 4.1M 10.7% 0.0%
Blackrock, Inc. $30.9M 3.8M 9.8% ▲ 5.7%
American Century Companies Inc $18.8M 2.3M 6.0% ▲ 21.1%
Acadian Asset Management LLC $16.6M 2.1M 5.3% ▲ 0.6%
Renaissance Technologies LLC $14.9M 1.8M 4.7% ▼ 5.5%
Vanguard Capital Management LLC $14.9M 1.8M 4.7% ▲ 1.0%
Vanguard Portfolio Management LLC $14.8M 1.8M 4.7% ▲ 5.2%
LSV Asset Management $13.1M 1.6M 4.2% ▲ 36.8%
Dimensional Fund Advisors LP $12.3M 1.5M 3.9% ▲ 5.7%
Geode Capital Management, LLC $10.9M 1.3M 3.5% ▲ 31.7%
O'Shaughnessy Asset Management, LLC $9.1M 1.1M 2.9% ▼ 1.3%
State Street Corp $7.7M 952K 2.5% ▲ 3.8%

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 Puma Biotechnology, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $2.1M 17 trades by 10 insiders · 95% under pre-set plans
Net ▼ $2.1M net selling
Insider Date Trade Shares Price Value
Cesano Alessandra Director September 14, 2026 Sell pre-set plan 62,150 $9.12 $566,808
Wilson Troy Edward Director September 14, 2026 Sell pre-set plan 5,000 $9.10 $45,500
Nougues Maximo F Chief Financial Officer July 6, 2026 Sell pre-set plan 9,386 $8.26 $77,528
Hunt Douglas M See Remarks July 6, 2026 Sell pre-set plan 8,460 $8.26 $69,880
Auerbach Alan H President and CEO July 6, 2026 Sell pre-set plan 44,058 $8.26 $363,919
Dorval Allison Director June 12, 2026 Sell pre-set plan 11,610 $7.20 $83,592
Moyes Jay M Director June 12, 2026 Sell pre-set plan 22,000 $7.22 $158,840
Senderowicz Adrian Director June 12, 2026 Sell pre-set plan 27,000 $7.20 $194,400
Stuglik Brian M Director June 12, 2026 Sell pre-set plan 8,100 $7.20 $58,320
Wilson Troy Edward Director June 12, 2026 Sell pre-set plan 10,800 $7.20 $77,760
Nougues Maximo F Chief Financial Officer January 7, 2026 Sell pre-set plan 6,405 $5.88 $37,661
Hunt Douglas M See Remarks January 7, 2026 Sell pre-set plan 5,014 $5.88 $29,482

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 2 trades and filings

No trades in Puma Biotechnology, Inc. disclosed in the last 12 months; 2 earlier trades on record.

  • Donna Shalala(FL):Sale (full), $1,001 - $15,000, traded May 15, 2019, filed April 27, 2020
  • Donna Shalala(FL):Purchase, $1,001 - $15,000, traded January 23, 2019, filed April 27, 2020

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

Earnings dates and SEC filings

Results announcements

Next expected around November 5, 2026 estimated from the company's past filing pattern, not announced

  • August 6, 2026
  • May 7, 2026
  • February 26, 2026
  • November 6, 2025
  • August 7, 2025
  • May 8, 2025

Recent SEC filings

Data status

When each part of this page on Puma Biotechnology, 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.

Puma Biotechnology, Inc. in brief

What does Puma Biotechnology, Inc. do?
Puma Biotechnology, Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Puma Biotechnology, Inc.'s stock ticker?
Puma Biotechnology, Inc. trades under the ticker PBYI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Puma Biotechnology, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Puma Biotechnology, Inc. reported revenue of $231M, 2.9% lower than a year earlier, according to its SEC filings.
What is Puma Biotechnology, Inc.'s free cash flow?
Puma Biotechnology, Inc.'s free-cash-flow margin is 17.8% of revenue over the trailing twelve months, ranking 27 of the 176 biotechnology companies we cover.
What is Puma Biotechnology, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Puma Biotechnology, Inc.'s free cash flow after stock-based pay gives ~$14 per share in the base case, and ~$11–$19 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are Puma Biotechnology, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Acorn Capital Advisors, LLC, Blackrock, Inc. and American Century Companies Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is Puma Biotechnology, Inc.'s market cap?
On November 2, 2026, Puma Biotechnology, Inc.'s market capitalisation was about $524M, with a price-to-earnings ratio of 19.6 and net debt of -$36.5M. Market figures come from third-party market data and may be delayed.
How much debt does Puma Biotechnology, Inc. have?
Puma Biotechnology, Inc.'s debt-to-equity ratio is 0.0%, from its latest balance sheet. The financial health section below sets out its other solvency checks.
Who are Puma Biotechnology, Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Puma Biotechnology, Inc. are Ideaya Biosciences, Inc., Anaptysbio, Inc, Rhythm Pharmaceuticals, Inc., Akebia Therapeutics, Inc. and Ligand Pharmaceuticals Inc. The side-by-side comparison below sets their revenue, margins and growth against Puma Biotechnology, Inc.'s.
Are insiders buying or selling Puma Biotechnology, Inc. stock?
Over the last 12 months, Puma Biotechnology, Inc.'s directors and officers reported 0 open-market purchases and 17 sales on Form 4. The insider trading page charts every trade.
When is Puma Biotechnology, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Puma Biotechnology, Inc. announces its own schedule.