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Ultragenyx Pharmaceutical Inc. (RARE) stock

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NASDAQ: RARE Nasdaq Biotechnology Next results ~November 3, 2026

C+ Fundamentals grade

Ultragenyx Pharmaceutical 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

Model estimate per share

~$25

Valuation models combined (2)

Base case. Range ~$23–$31. Weighted average of 2 models (growth cash-flow model, forward price-to-sales vs peers), the growth cash-flow model counting double.

Price vs value

No Buy/Hold/Sell rating is issued: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Ultragenyx Pharmaceutical 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.

Value diary

Our note on each quarter Ultragenyx Pharmaceutical files

Where Ultragenyx Pharmaceutical stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $717m, up 17.5% on a year earlier, faster than the 13.6% growth a quarter earlier. Free-cash-flow margin rose to -68.2% from -70.0% a year earlier. Operating margin widened to -73.6% from -82.8%. The diluted share count is up 4.2% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 1 of our 2 financial-health checks. Our revenue-to-maturity cash-flow model value is $7.99 a share, against a share price of $17.15.

Source: 10-Q filed August 5, 2026 on SEC EDGAR · Financials · Valuation

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

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

Ultragenyx Pharmaceutical Inc.'s trailing-twelve-month revenue grew 17.5% year on year, with a free-cash-flow margin of -68.2%.

Current signal Revenue growth accelerating: TTM revenue growth rose to 17.5% (+4.0pp vs the prior quarter).

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 17.5% over the last 12 months, against a median of 12.6% for biotechnology companies we cover.
  • Growth speeding up. The growth rate is 4.0 points higher than a quarter earlier.
  • Margins widening. Operating margin is up 9.2 points on a year ago.
  • Net cash. Cash exceeds long-term debt by $0.1bn.

Things to watch

  • Loss-making. Operating margin is -73.6%: costs exceed revenue.
  • Burning cash. Free cash flow was -68.2% of revenue over the last 12 months.
  • Heavy stock-based pay. Stock pay equals 15.1% of revenue, against a median of 19.2% for biotechnology companies we cover: a real cost that cash-flow figures leave out.
  • Share dilution. Diluted shares rose 4.2% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 82% and a beta of 1.3 against the S&P 500.
  • Heavily shorted. 21.1% of the shares available to trade are sold short (3.8 days of average volume to cover).

Latest results: FY2026 Q2

Filed August 5, 2026
Earnings per share
-$0.90 against an average estimate of -$1.00: beat by 9.7%
Revenue
$214m, up 28.1% on a year earlier
Share reaction
-0.4% in the first session after the results on August 4, 2026, against +1.6% for the S&P 500
Next report
November 3, 2026; average EPS estimate -$0.75

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

Price chart

  • 1 day+1.2%
  • 1 week+1.4%
  • 1 month+7.1%
  • This year-29.1%
  • 1 year-52.9%
  • 5 years-81.0%
  • 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)
$717M
Operating margin
-73.6%
Net margin
-81.7%
EPS (TTM, diluted)
$-5.83

Growth

Revenue growth
+17.5%
Change in growth rate
+4.0 pts
Share count change
+4.2%

Cash

Free cash flow (TTM)
-$489M
FCF margin
-68.2%
Stock pay % of revenue
15.1%

Earnings

Last results
August 4, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Agreement
  3. Agreement
  4. Announcement
  5. Announcement
  6. Announcement
  7. Announcement
  8. 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

Ultragenyx Pharmaceutical Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valued with our growth model, which doesn't carry a Buy/Hold/Sell rating yet.

Valuation models

We value Ultragenyx Pharmaceutical Inc. as an operating company, with every model that fits that kind of business. Cost of equity 10.3%: the 10-year Treasury yield (4.9%) plus a beta of 1.18 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Growth cash-flow model Revenue for this year and next from analysts' consensus, then growth fading to 2.5%; the operating margin moving to profitable peers'; investment needed per dollar of growth from peers; reduced by a failure probability. For young or fast-growing companies. The starting margin is normalized to between -100% and 60%; net margin is a proxy when operating income is not tagged. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$23 ~$11–$33 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. ~$2.8 ~$2.6–$5.3 Left out: out of range vs price (0.17x)
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
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
Forward price-to-sales vs peers Next year's consensus sales per share times peers' typical forward price-to-sales; only when earnings are negative. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$31 ~$32–$120 Included, half weight
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. — Does not apply: revenue and margins don't support a positive value
Combined value Weighted average of the models that apply: the primary model (growth cash-flow model) 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. ~$25 ~$23–$31 2 models

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

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$70.31$46.38$43.48$42.71$138.43$84.09$46.33$47.82$42.07$23.00$16.30
Market value$2.8bn$2.0bn$2.2bn$2.4bn$8.4bn$5.7bn$3.2bn$3.5bn$3.8bn$2.3bn$1.6bn
+ Net debt (− = net cash)−$161m−$100m−$113m−$434m−$714m−$308m−$133m−$214m−$174m−$421m−$125m
Enterprise value$2.6bn$1.9bn$2.1bn$2.0bn$7.7bn$5.4bn$3.1bn$3.3bn$3.6bn$1.8bn$1.5bn
Multiples
Price / sales n/mn/m42.0x23.3x31.1x16.2x8.9x8.1x6.8x3.4x2.3x
Price / earnings ———————————
Price / free cash flow ———————————
EV / EBITDA ———————————

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

8 /100

Weak moat

How hard Ultragenyx Pharmaceutical'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 0 / 20

    Net income has been a median -38.5% of total assets over 10 years.

  • Durability 10 / 20

    Operating margin has been a median -140.8%; its worst year was -1426.0%.

  • Cash conversion 0 / 20

    Free cash flow was positive in 0 of 9 years, at a median -122.2% of revenue.

  • Discipline 0 / 20

    The diluted share count rose 55.3% over five years; stock-based pay has been a median 32.7% 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 (12 before it).

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

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $184m and EPS of −$0.75 (range −$1.25 to $0.75) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$4.08 +30% $760m +13%
Next $0.23 +106% $997m +31%

Next year's EPS estimate has moved −92.8% in 90 days, across 6 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −2.7% on 90 days ago. In the last 30 days, 1 analyst raised Ultragenyx Pharmaceutical Inc.'s forecast and 2 cut it.

Consensus EPS forecast Ultragenyx Pharmaceutical Inc., last 90 days
−$6.00 −$4.00 −$2.00 $0.00 $2.00 $4.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$4.19 Current fiscal year, 60 days ago: −$3.85 Current fiscal year, 30 days ago: −$3.87 Current fiscal year, 7 days ago: −$4.08 Current fiscal year, Now: −$4.08 −$4.08 Next fiscal year, 90 days ago: $3.13 Next fiscal year, 60 days ago: $0.67 Next fiscal year, 30 days ago: $0.68 Next fiscal year, 7 days ago: $0.23 Next fiscal year, Now: $0.23 $0.23

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$4.19$3.13
60 days ago −$3.85$0.67
30 days ago −$3.87$0.68
7 days ago −$4.08$0.23
Now −$4.08$0.23

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$1.00 −$0.90 +9.7%
Mar 2026 −$1.46 −$1.54 −5.7%
Dec 2025 −$1.17 −$1.29 −10.1%
Sept 2025 −$1.21 −$1.81 −49.7%

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

Analyst recommendations

21 analysts, Oct 2026
Buy1048%
Hold1152%
Sell00%

Monthly trend

  1. Oct 2026281121
  2. Sep 2026281020
  3. Aug 2026513220
  4. Jul 2026512219

Counts of recommendations published by analysts covering Ultragenyx Pharmaceutical 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
21.1%
of tradable shares
Days to cover
3.79
at average volume
Short interest, 1 month
+22%
to October 15, 2026
Held by institutions
—
of shares
Held by insiders
3.4%
of shares
Employees
1,371
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 −52.9%

$34.60 on October 31, 2025 to $16.30

ThenNowEffect
Revenue (last 12 months) $610m $717m +17.5%
P/S multiple 5.5x 2.3x −58.2%
Share count 96m 101m −4.0%

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

Last 3 years −58.0%

$38.83 on November 3, 2023 to $16.30

ThenNowEffect
Revenue (last 12 months) $403m $717m +78.0%
P/S multiple 6.8x 2.3x −66.3%
Share count 70m 101m −30.0%

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
RARE−39%−45%+3%−12%−45%−29%
Industry peers (median)−35%−57%−18%−29%−5%−26%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RARE33%25%33%33%58%55%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RARE−56%−61%−39%−30%−57%−64%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 93% from December 23, 2020 to September 16, 2026. Getting back needed a 1277% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$12.88 – $36.54
From 52-week high
−55.4%
vs 50-day average
−3.1%
vs 200-day average
−28.7%
Volatility (1 year)
82%
Beta vs S&P 500
1.31

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
3 up, 9 down
typical move ±5.7%
After a week
4 up, 8 down
typical move ±4.9%
After a month
6 up, 6 down
typical move ±8.4%
Results releasedNext dayS&P 500 next day5 days21 days
August 4, 2026 −0.4% +1.6% +7.8% +6.0%
May 5, 2026 +4.5% +2.2% +8.2% −6.0%
February 12, 2026 −14.1% −1.5% −4.9% −8.6%
January 12, 2026 +7.1% 0.0% +0.5% +6.1%
November 4, 2025 −4.8% −0.8% −0.7% +9.2%
August 5, 2025 −1.4% +0.3% −1.2% +9.9%
May 6, 2025 −14.0% −0.4% −8.9% −5.0%
February 13, 2025 −2.2% +1.1% −1.9% −8.7%
January 13, 2025 −4.9% +0.3% −1.9% +3.2%
November 5, 2024 −1.1% +3.7% −6.3% −7.3%
August 1, 2024 +12.1% −3.3% +11.7% +26.1%
May 2, 2024 −1.3% +2.2% −4.8% −5.0%

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.

Ultragenyx Pharmaceutical Inc. in five measures

Fundamentals grade C+
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) Ultragenyx Pharmaceutical Inc.
$400M $500M $600M $700M $800M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $410.2M Revenue (TTM), FY23 Q4: $434M Revenue (TTM), FY24 Q1: $442.3M Revenue (TTM), FY24 Q2: $481.1M Revenue (TTM), FY24 Q3: $522.5M Revenue (TTM), FY24 Q4: $560M Revenue (TTM), FY25 Q1: $590.2M Revenue (TTM), FY25 Q2: $610.1M Revenue (TTM), FY25 Q3: $630.6M Revenue (TTM), FY25 Q4: $673.2M Revenue (TTM), FY26 Q1: $670.2M Revenue (TTM), FY26 Q2: $717.2M $717.2M

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

View chart data
Period Revenue (TTM)
FY23 Q3 $410.2M
FY23 Q4 $434M
FY24 Q1 $442.3M
FY24 Q2 $481.1M
FY24 Q3 $522.5M
FY24 Q4 $560M
FY25 Q1 $590.2M
FY25 Q2 $610.1M
FY25 Q3 $630.6M
FY25 Q4 $673.2M
FY26 Q1 $670.2M
FY26 Q2 $717.2M
Revenue growth, TTM YoY Ultragenyx Pharmaceutical Inc.
10% 15% 20% 25% 30% 35% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 19.5% Revenue growth, TTM YoY, FY23 Q4: 19.5% Revenue growth, TTM YoY, FY24 Q1: 15.2% Revenue growth, TTM YoY, FY24 Q2: 19.4% Revenue growth, TTM YoY, FY24 Q3: 27.4% Revenue growth, TTM YoY, FY24 Q4: 29.0% Revenue growth, TTM YoY, FY25 Q1: 33.4% Revenue growth, TTM YoY, FY25 Q2: 26.8% Revenue growth, TTM YoY, FY25 Q3: 20.7% Revenue growth, TTM YoY, FY25 Q4: 20.2% Revenue growth, TTM YoY, FY26 Q1: 13.6% Revenue growth, TTM YoY, FY26 Q2: 17.5% 17.5%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 19.5%
FY23 Q4 19.5%
FY24 Q1 15.2%
FY24 Q2 19.4%
FY24 Q3 27.4%
FY24 Q4 29.0%
FY25 Q1 33.4%
FY25 Q2 26.8%
FY25 Q3 20.7%
FY25 Q4 20.2%
FY26 Q1 13.6%
FY26 Q2 17.5%
Operating margin (TTM) Ultragenyx Pharmaceutical Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -144.5% Operating margin (TTM), FY23 Q4: -131.1% Operating margin (TTM), FY24 Q1: -131.2% Operating margin (TTM), FY24 Q2: -114.1% Operating margin (TTM), FY24 Q3: -102.5% Operating margin (TTM), FY24 Q4: -95.7% Operating margin (TTM), FY25 Q1: -87.0% Operating margin (TTM), FY25 Q2: -82.8% Operating margin (TTM), FY25 Q3: -86.3% Operating margin (TTM), FY25 Q4: -79.5% Operating margin (TTM), FY26 Q1: -83.7% Operating margin (TTM), FY26 Q2: -73.6% -73.6%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 -144.5%
FY23 Q4 -131.1%
FY24 Q1 -131.2%
FY24 Q2 -114.1%
FY24 Q3 -102.5%
FY24 Q4 -95.7%
FY25 Q1 -87.0%
FY25 Q2 -82.8%
FY25 Q3 -86.3%
FY25 Q4 -79.5%
FY26 Q1 -83.7%
FY26 Q2 -73.6%
FCF margin (TTM) Ultragenyx Pharmaceutical Inc.
-150% -100% -50% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: -134.3% FCF margin (TTM), FY23 Q4: -119.6% FCF margin (TTM), FY24 Q1: -120.1% FCF margin (TTM), FY24 Q2: -99.8% FCF margin (TTM), FY24 Q3: -81.7% FCF margin (TTM), FY24 Q4: -75.2% FCF margin (TTM), FY25 Q1: -66.8% FCF margin (TTM), FY25 Q2: -70.0% FCF margin (TTM), FY25 Q3: -71.5% FCF margin (TTM), FY25 Q4: -70.1% FCF margin (TTM), FY26 Q1: -75.1% FCF margin (TTM), FY26 Q2: -68.2% -68.2%

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

View chart data
Period FCF margin (TTM)
FY23 Q3 -134.3%
FY23 Q4 -119.6%
FY24 Q1 -120.1%
FY24 Q2 -99.8%
FY24 Q3 -81.7%
FY24 Q4 -75.2%
FY25 Q1 -66.8%
FY25 Q2 -70.0%
FY25 Q3 -71.5%
FY25 Q4 -70.1%
FY26 Q1 -75.1%
FY26 Q2 -68.2%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 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 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 0 3 51 104 271 351 363 434 560 673 717
Gross profit — 3 50 — — — — — — — —
EBITDA −245 −323 −352 −416 −318 −368 −631 −543 −500 −500 −495
Operating income −248 −329 −371 −424 −330 −382 −649 −569 −536 −535 −528
Net income −246 −302 −198 −403 −187 −454 −707 −607 −569 −575 −586
Diluted EPS −$6.21 −$7.12 −$3.97 −$7.12 −$3.07 −$6.70 −$10.12 −$8.25 −$6.29 −$5.83 −$5.83
Growth (year on year)
Revenue — +>999% +>999% +101.4% +161.3% +29.7% +3.4% +19.5% +29.0% +20.2% +17.5%
Margins
Gross margin — 100.0% 97.8% — — — — — — — —
EBITDA margin <−999% <−999% −683.2% −400.8% −117.3% −104.9% −173.6% −125.1% −89.3% −74.3% −69.0%
Operating margin <−999% <−999% −721.2% −409.0% −121.8% −108.6% −178.6% −131.1% −95.7% −79.5% −73.6%
Net margin <−999% <−999% −383.7% −388.3% −68.8% −129.2% −194.7% −139.9% −101.6% −85.4% −81.7%
Free-cash-flow margin <−999% <−999% −572.2% −357.0% −65.0% −117.2% −136.7% −119.6% −75.2% −70.1% −68.2%
Cash flow
Cash from operations −161 −254 −291 −345 −132 −339 −380 −475 −414 −466 −485
Capital spending 10 3 4 25 44 73 116 44 7 6 4
Free cash flow −171 −257 −295 −370 −176 −412 −497 −519 −421 −472 −489
Stock-based pay 48 68 80 82 86 105 130 135 158 153 109
Free cash flow after stock pay −219 −325 −375 −452 −262 −517 −627 −654 −579 −625 −598
Balance sheet
Cash 161 100 113 434 714 308 133 214 174 421 125
Total debt 0 0 0 0 0 0 0 0 0 0 0
Net debt (negative = net cash) −161 −100 −113 −434 −714 −308 −133 −214 −174 −421 −125
Diluted shares 40m 42m 50m 57m 61m 68m 70m 74m 91m 99m 101m

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

1 of 2 checks passed · June 30, 2026
What it owns · $1.3bn
Short-term assets $606mLonger-term assets $658m
What it owes, and who funded it · $1.5bn
Short-term liabilities $351mLonger-term liabilities $1.2bnShareholders' equity $-291m
  • Short-term assets cover short-term liabilities $606m of assets due within a year against $351m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $606m short-term assets against $1.2bn of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Interest not separately reported. Not assessable.

From Ultragenyx Pharmaceutical 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
+4.2%
year over year
R&D spending
107.8%
of revenue
Sales & admin spending
48.9%
of revenue
Days sales outstanding
102 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in biotechnology
Last 12 months unless stated RARE NRIX ARWR TGTX TLX ASND Median
Revenue, last 12 months $717m $702m $669m $800m $804m $814m $56m
Revenue growth, last 12 months 17.5% 738.8% 16.8% 76.1% 55.6% 106.9% 12.6%
Revenue growth, 3-year average 21.2% 117.1% 37.7% 221.5% — — 13.7%
Revenue growth, latest quarter 28.1% >999% 171.0% 70.3% — — 10.2%
Gross margin 97.2% — — 82.4% 53.1% 86.8% 82.9%
Operating margin −73.6% 41.3% −33.8% 17.1% 3.7% −18.9% −189.4%
Operating margin, 3-year average −90.2% −207.1% −945.9% 21.8% — <−999% −363.5%
Net margin −81.7% 42.0% −47.8% 55.2% −0.9% −31.7% −169.8%
Cash from operations / revenue −67.6% 54.0% −8.8% 2.2% −2.2% 7.5% −168.0%
Free-cash-flow margin −68.2% 52.7% −11.2% 2.2% −5.3% 7.5% −162.4%
Free-cash-flow margin, 3-year average −79.3% −141.7% −908.4% <−999% — <−999% −310.0%
Stock pay / revenue 15.1% 5.8% 10.5% 10.2% 2.4% 16.1% 20.0%
Change in share count 4.2% 31.0% 7.8% −3.5% −2.1% 4.7% 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 17.5% 12.6% 81 of 172
Change in growth rate Growth +4.0pp -0.1pp 58 of 172
Operating margin Profitability -73.6% -189.4% 69 of 175
Net margin Profitability -81.7% -157.3% 75 of 180
Free-cash-flow margin Cash generation -68.2% -145.4% 73 of 176
Stock pay as % of revenue Cash generation 15.1% 19.2% 77 of 179
Change in share count Balance sheet 4.2% 7.9% 61 of 156
Days sales outstanding Balance sheet 102 days 75 days 68 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 $369M 54.8% ▲ 29.5%
Royalty $304M 45.2% ▲ 10.5%
Collaboration and License $0 0.0% —
Geography
Region Revenue Share YoY
North America $377M 56.0% ▲ 10.9%
Latin America $170M 25.3% ▲ 29.8%
EMEA $108M 16.0% ▲ 35.0%
Asia Pacific $18M 2.7% ▲ 100.0%

From Ultragenyx Pharmaceutical Inc.'s 10-K filed February 18, 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
$3.6B
Institutions reporting
309
Shares held vs prior quarter
▲ 8.9%
Positions opened / closed
55 / 43

Top buyers and sellers, Q2 2026: 171 institutions bought and 141 sold ; the biggest buyer was RTW Investments, LP (+4.1M shares) and the biggest seller Assenagon Asset Management S.A (−2.0M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $356M 10.7M 10.0% ▲ 46.0%
RTW Investments, LP $260M 7.8M 7.3% ▲ 113.7%
Vanguard Portfolio Management LLC $227M 6.8M 6.4% ▲ 26.1%
AQR Capital Management LLC $214M 6.6M 6.0% ▲ 43.3%
State Street Corp $206M 6.2M 5.8% ▲ 22.6%
Vanguard Capital Management LLC $143M 4.3M 4.0% ▲ 2.5%
Two Sigma Investments, LP $121M 3.6M 3.4% ▲ 64.2%
Sands Capital Management, LLC $105M 3.2M 3.0% ▼ 1.7%
Jacobs Levy Equity Management, Inc $98.2M 2.9M 2.8% ▲ 105.4%
Frontier Capital Management Co LLC $95.1M 2.8M 2.7% ▲ 30.0%
Geode Capital Management, LLC $86.1M 2.6M 2.4% ▲ 39.4%
Bellevue Group AG $66.2M 2.0M 1.9% ▼ 16.7%

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 Ultragenyx Pharmaceutical 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 → $3.8M 28 trades by 9 insiders · 35% under pre-set plans
Net ▼ $3.8M net selling
Insider Date Trade Shares Price Value
Horn Howard Chief Financial Officer October 15, 2026 Sell 7,066 $15.27 $107,898
Huizenga Theodore Alan SVP, Chief Accounting Officer September 15, 2026 Sell pre-set plan 1,283 $13.57 $17,410
Huizenga Theodore Alan SVP, Chief Accounting Officer September 3, 2026 Sell 161 $13.99 $2,252
Horn Howard Chief Financial Officer August 3, 2026 Sell pre-set plan 4,696 $24.92 $117,024
Parschauer Karah Herdman EVP and Chief Legal Officer August 3, 2026 Sell pre-set plan 1,900 $24.92 $47,348
Horn Howard Chief Financial Officer July 1, 2026 Sell pre-set plan 4,698 $33.13 $155,645
Parschauer Karah Herdman EVP and Chief Legal Officer June 15, 2026 Sell pre-set plan 1,899 $24.62 $46,753
Sanders Corazon (Corsee) D. Director June 15, 2026 Sell 2,000 $25.05 $50,100
Horn Howard Chief Financial Officer June 1, 2026 Sell pre-set plan 4,653 $23.77 $110,602
Suliman Shehnaaz Director May 18, 2026 Sell pre-set plan 5,740 $25.12 $144,189
Crombez Eric EVP and Chief Medical Officer May 5, 2026 Sell 344 $24.96 $8,586
Horn Howard Chief Financial Officer May 1, 2026 Sell pre-set plan 4,683 $24.90 $116,607

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 5 trades and filings

In the last 12 months, 1 member of Congress disclosed 3 purchases and 0 sales of Ultragenyx Pharmaceutical Inc. shares.

  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded September 29, 2026, filed October 12, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded March 3, 2026, filed April 7, 2026
  • Gilbert Ray Cisneros, Jr.(D-CA 31):Purchase, $1,001 - $15,000, traded February 18, 2026, filed March 9, 2026

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

Earnings dates and SEC filings

Results announcements

Next expected around October 26, 2026 estimated from the company's past filing pattern, not announced

  • August 4, 2026
  • May 5, 2026
  • February 12, 2026
  • January 12, 2026
  • November 4, 2025
  • August 5, 2025

Recent SEC filings

Data status

When each part of this page on Ultragenyx Pharmaceutical 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.

Ultragenyx Pharmaceutical Inc. in brief

What does Ultragenyx Pharmaceutical Inc. do?
Ultragenyx Pharmaceutical Inc. is a US-listed company in the biotechnology industry. Its financial year ends in December.
What is Ultragenyx Pharmaceutical Inc.'s stock ticker?
Ultragenyx Pharmaceutical Inc. trades under the ticker RARE on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Ultragenyx Pharmaceutical Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Ultragenyx Pharmaceutical Inc. reported revenue of $717M, 17.5% higher than a year earlier, according to its SEC filings.
What is Ultragenyx Pharmaceutical Inc.'s free cash flow?
Ultragenyx Pharmaceutical Inc.'s free-cash-flow margin is -68.2% of revenue over the trailing twelve months, ranking 73 of the 176 biotechnology companies we cover.
Who are Ultragenyx Pharmaceutical Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., RTW Investments, LP 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 Ultragenyx Pharmaceutical Inc.'s market cap?
On November 2, 2026, Ultragenyx Pharmaceutical Inc.'s market capitalisation was about $1.6B and net debt of -$125M. Market figures come from third-party market data and may be delayed.
Who are Ultragenyx Pharmaceutical Inc.'s competitors?
In our Biotechnology peer group, the companies closest to Ultragenyx Pharmaceutical Inc. are Nurix Therapeutics, Inc., Arrowhead Pharmaceuticals, Inc., TG Therapeutics, Inc., Telix Pharmaceuticals Ltd and Ascendis Pharma A/s. The side-by-side comparison below sets their revenue, margins and growth against Ultragenyx Pharmaceutical Inc.'s.
Are insiders buying or selling Ultragenyx Pharmaceutical Inc. stock?
Over the last 12 months, Ultragenyx Pharmaceutical Inc.'s directors and officers reported 0 open-market purchases and 28 sales on Form 4. The insider trading page charts every trade.
When is Ultragenyx Pharmaceutical Inc.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Ultragenyx Pharmaceutical Inc. announces its own schedule.