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Rockwell Medical, Inc. (RMTI) stock

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NASDAQ: RMTI Nasdaq Pharmaceuticals Next results ~November 12, 2026

C Fundamentals grade

Rockwell Medical, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$6.6

Cash-flow model

Base case. Range ~$5.9–$7.4 across our lower- and higher-growth cases (-1%–9% a year).

Price vs value

Overvalued

The price is above our entire value range; our base value is 19% below it.

Price used: $8.11, November 3, 2026

Rockwell Medical, 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, 4 selling0 purchases and 4 sales by directors and officers, last 12 monthsInsider trades
  • Funds2 adding, 0 cuttingOf 0 active managers that changed their stake, 0 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Rockwell Medical files

Where Rockwell Medical stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $69m, down 21.1% on a year earlier, a smaller fall than the 30.7% decline a quarter earlier. That puts it 44 of 47 for growth among the pharmaceuticals companies we cover. Free-cash-flow margin held at 2.2%. Operating margin narrowed to -6.5% from -1.5%. The diluted share count is up 9.9% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 6 of our 7 financial-health checks. Our cash-flow model value is $6.36 a share, against a share price of $7.17. At that price, our model says the market is pricing in about 9.1% a year of cash-flow growth for five years, faster than the 2.3% a year revenue growth it has delivered.

Source: 10-Q filed August 13, 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 12, 2026 (estimated)

Rockwell Medical, Inc.'s trailing-twelve-month revenue fell 21.1% year on year, with a free-cash-flow margin of 2.2%. Where it stands out: change in growth rate of +9.6pp ranks 7 of 74 pharmaceuticals companies we cover. Where it lags: gross margin of 17.7% ranks 53 of 59 pharmaceuticals companies we cover.

Our discounted-cash-flow model values the business at ~$6.6 per share in the base case (~$5.9–$7.4 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 42.6% while net income fell 142.2%: a 100pp divergence.

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

Highlights

How we pick these

Strengths

Nothing in Rockwell Medical, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 21.1% over the last 12 months.
  • Loss-making. Operating margin is -6.5%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 5.0 points on a year ago.
  • Share dilution. Diluted shares rose 9.9% in a year.
  • Volatile shares. Over the past year the shares showed annualised volatility of 68% and a beta of 0.7 against the S&P 500.
  • Below peers: gross margin. Gross margin of 17.7% ranks 53 of 59 pharmaceuticals companies we cover (median 59.8%).

Latest results: FY2026 Q2

Filed August 13, 2026
Earnings per share
-$0.34 against an average estimate of -$0.23: missed by 44.7%
Revenue
$18m, up 10.6% on a year earlier
Share reaction
-1.3% in the first session after the results on August 13, 2026, against +0.5% for the S&P 500
Next report
November 12, 2026

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

Price chart

  • 1 day+17.4%
  • 1 week+18.2%
  • 1 month-6.2%
  • This year-16.7%
  • 1 year-24.9%
  • 5 years-86.6%
  • 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)
$69.4M
Operating margin
-6.5%
Net margin
-7.3%
EPS (TTM, diluted)
$-1.51

Growth

Revenue growth
−21.1%
Change in growth rate
+9.6 pts
Share count change
+9.9%

Cash

Free cash flow (TTM)
$1.5M
FCF margin
2.2%
Stock pay % of revenue
2.7%

Earnings

Last results
August 13, 2026

News & updates

Updated October 31, 2026

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

  1. Announcement
  2. Results
  3. Announcement

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

Rockwell Medical, Inc. valuation models and calculator

What the price is pricing in

The share price implies about 13.1% a year of cash-flow growth for five years.That is faster than the 2.3% a year revenue growth Rockwell Medical has delivered.

  • Priced in13.1%
  • Last 12 months-21.1%
  • 3 years a year-2.9%
  • 5 years a year2.3%

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 ($8.11, Nov 3, 2026). Cash-flow growth then fades to 2.5% a year; discount rate 8.5%. Delivered figures are revenue growth from SEC filings. This is a model exercise, not investment advice or a forecast of the share price. All companies

Fundamentalytics rating

model v1.6 · 2026-11-03
Sell12-month view
12-month price target
~$6.5
Price used
$8.11close November 3, 2026
Implied change
▼ 19%
Uncertainty
Low

How we got here: a discounted-cash-flow model of Rockwell Medical, Inc.'s free cash flow after stock-based pay with after-tax interest added back ($528,014, FY2026 Q2 TTM), growing 6.5% and 4.8% in the next two years (forecasts, guidance and its record), then back to 4% by year five, and fading to 2.5%, discounted at 8.5%. Lower and higher growth cases span ~$5.9–~$7.4 ; that spread sets a 15% margin before we rate Buy or Sell.

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

Our value per share comes from a discounted-cash-flow model of Rockwell Medical, Inc.'s free cash flow after stock-based pay ( $528,014, 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 Rockwell Medical, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 9.7%: the 10-year Treasury yield (4.9%) plus a beta of 1.05 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. ~$6.6 ~$5.9–$7.4 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: no positive earnings in the latest twelve months
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. ~$6.6 ~$5.9–$7.4 1 model

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

What moves the value

  • Revenue growth 5 points lower ▼ −18%
  • Revenue growth 5 points higher ▲ +24%
  • Free-cash-flow margin 1 point lower ▼ −20%
  • Last year's free-cash-flow margin change, if it persists ▼ −15%
  • Discount rate 1 point higher ▼ −10%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $6$7$7$9$10$12
8.5% $5$6$7$7$9$10
10% $5$6$6$7$8$9

Valuation multiples over time Market data may be delayed

At fiscal year end 20152016201720182019202020212022202320242025
Share price$1126.40$720.50$640.20$248.60$268.40$111.10$45.10$10.10$18.90$20.40$8.30
Market value$5.1bn$3.3bn$3.0bn$1.2bn$1.5bn$764m$385m$144m$441m$634m$299m
+ Net debt (− = net cash)−$31m−$17m−$8m−$23m−$12m−$28m$7m−$916000−$690000−$7m−$2m
Enterprise value$5.1bn$3.3bn$3.0bn$1.2bn$1.5bn$736m$392m$144m$440m$626m$297m
Multiples
Price / sales 92.6x62.3x51.9x18.8x24.2x12.3x6.2x2.0x5.3x6.2x4.3x
Price / earnings ———————————
Price / free cash flow —————————198.6x—
EV / EBITDA —————————n/m—

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

Moat

35 /100

Weak moat

How hard Rockwell Medical'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

    Cash operating profit has been a median -21.3% of total assets over 7 years.

  • Pricing power 2 / 20

    Gross margin has been a median 8.3%, moving by 8.2 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -40.1%; its worst year was -54.4%.

  • Discipline 20 / 20

    The diluted share count fell 97.7% over five years; stock-based pay has been a median 2.1% 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 (40 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 12, 2026, before the open. Analysts expect revenue of $18m for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$1.01 +33% $72m +4%
Next −$0.20 +80% $78m +8%

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is +12.2% on 90 days ago. In the last 30 days, 0 analysts raised Rockwell Medical, Inc.'s forecast and 2 cut it.

Consensus EPS forecast Rockwell Medical, Inc., last 90 days
−$1.50 −$1.00 −$0.50 $0.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.90 Current fiscal year, 60 days ago: −$0.88 Current fiscal year, 30 days ago: −$0.88 Current fiscal year, 7 days ago: −$1.12 Current fiscal year, Now: −$1.01 −$1.01 Next fiscal year, 90 days ago: −$0.05 Next fiscal year, 60 days ago: −$0.09 Next fiscal year, 30 days ago: −$0.09 Next fiscal year, 7 days ago: −$0.17 Next fiscal year, Now: −$0.20 −$0.20

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

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.90−$0.05
60 days ago −$0.88−$0.09
30 days ago −$0.88−$0.09
7 days ago −$1.12−$0.17
Now −$1.01−$0.20

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.23 −$0.34 −44.7%
Mar 2026 −$0.25 −$0.40 −60.0%
Dec 2025 $0.20 −$0.10 −150.0%
Sept 2025 −$0.45 −$0.50 −11.1%

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

How our valuation uses these forecasts

Our cash-flow model grows Rockwell Medical, Inc.'s revenue by +6.5% next year and +4.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (+8.4%, weight 56%) and the company's own record (+4.0%, weight 44%) . How the weights are set.

Analyst recommendations

2 analysts, Oct 2026
Buy2100%
Hold00%
Sell00%

Monthly trend

  1. Oct 2026112
  2. Sep 2026112
  3. Aug 2026112

Counts of recommendations published by analysts covering Rockwell Medical, 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
1.8%
of tradable shares
Days to cover
2.77
at average volume
Short interest, 1 month
−22%
to October 15, 2026
Held by institutions
8%
of shares
Held by insiders
14.8%
of shares
Employees
157
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 −37.7%

$11.10 on October 31, 2025 to $6.91

ThenNowEffect
Revenue (last 12 months) $88m $69m −21.1%
P/S multiple 0.4x 0.4x −10.2%
Share count 3m 4m −12.1%

Biggest factor: revenue. 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
RMTI−59%−78%+87%+8%−59%−17%
Industry peers (median)−18%−49%−14%−2%+9%−12%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
RMTI25%33%67%50%17%36%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
RMTI−81%−85%−75%−57%−66%−59%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since November 3, 2015: 100% from November 27, 2015 to July 1, 2026. Getting back needed a 25736% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$5.19 – $12.60
From 52-week high
−45.2%
vs 50-day average
−12.4%
vs 200-day average
−16.0%
Volatility (1 year)
68%
Beta vs S&P 500
0.65

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
4 up, 8 down
typical move ±12.4%
After a week
5 up, 7 down
typical move ±13.9%
After a month
4 up, 8 down
typical move ±22.5%
Results releasedNext dayS&P 500 next day5 days21 days
August 13, 2026 −1.3% +0.5% +1.7% +3.6%
May 7, 2026 +2.5% +0.5% −1.2% −18.5%
March 26, 2026 −16.3% −3.5% −7.7% −18.3%
January 20, 2026 +28.1% −0.9% +19.8% +5.2%
November 12, 2025 −13.3% −1.6% −18.1% −12.4%
August 14, 2025 −2.9% −0.2% +10.5% +58.1%
May 12, 2025 −4.5% +4.0% −7.1% −11.6%
March 20, 2025 −23.3% −0.3% −31.8% −42.0%
November 12, 2024 −43.4% −0.3% −46.5% −55.5%
May 14, 2024 +0.6% +1.7% +5.9% +8.2%
March 21, 2024 +3.6% +0.1% +0.6% −7.9%
January 8, 2024 −8.6% +1.3% −15.4% −28.6%

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.

Rockwell Medical, Inc. 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) Rockwell Medical, Inc.
$60M $70M $80M $90M $100M $110M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $80.8M Revenue (TTM), FY23 Q4: $83.6M Revenue (TTM), FY24 Q1: $86.6M Revenue (TTM), FY24 Q2: $94.4M Revenue (TTM), FY24 Q3: $98.9M Revenue (TTM), FY24 Q4: $101.5M Revenue (TTM), FY25 Q1: $97.7M Revenue (TTM), FY25 Q2: $88M Revenue (TTM), FY25 Q3: $75.6M Revenue (TTM), FY25 Q4: $69.3M Revenue (TTM), FY26 Q1: $67.7M Revenue (TTM), FY26 Q2: $69.4M $69.4M

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

View chart data
Period Revenue (TTM)
FY23 Q3 $80.8M
FY23 Q4 $83.6M
FY24 Q1 $86.6M
FY24 Q2 $94.4M
FY24 Q3 $98.9M
FY24 Q4 $101.5M
FY25 Q1 $97.7M
FY25 Q2 $88M
FY25 Q3 $75.6M
FY25 Q4 $69.3M
FY26 Q1 $67.7M
FY26 Q2 $69.4M
Revenue growth, TTM YoY Rockwell Medical, Inc.
-40% -20% 0% 20% 40% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: 17.4% Revenue growth, TTM YoY, FY23 Q4: 14.8% Revenue growth, TTM YoY, FY24 Q1: 13.4% Revenue growth, TTM YoY, FY24 Q2: 24.6% Revenue growth, TTM YoY, FY24 Q3: 22.4% Revenue growth, TTM YoY, FY24 Q4: 21.4% Revenue growth, TTM YoY, FY25 Q1: 12.8% Revenue growth, TTM YoY, FY25 Q2: -6.8% Revenue growth, TTM YoY, FY25 Q3: -23.6% Revenue growth, TTM YoY, FY25 Q4: -31.8% Revenue growth, TTM YoY, FY26 Q1: -30.7% Revenue growth, TTM YoY, FY26 Q2: -21.1% -21.1%

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

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 17.4%
FY23 Q4 14.8%
FY24 Q1 13.4%
FY24 Q2 24.6%
FY24 Q3 22.4%
FY24 Q4 21.4%
FY25 Q1 12.8%
FY25 Q2 -6.8%
FY25 Q3 -23.6%
FY25 Q4 -31.8%
FY26 Q1 -30.7%
FY26 Q2 -21.1%
Operating margin (TTM) Rockwell Medical, Inc.
-15% -10% -5% 0% 5% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -10.0% Operating margin (TTM), FY23 Q4: -8.0% Operating margin (TTM), FY24 Q1: -7.6% Operating margin (TTM), FY24 Q2: -3.3% Operating margin (TTM), FY24 Q3: 0.6% Operating margin (TTM), FY24 Q4: 0.6% Operating margin (TTM), FY25 Q1: 0.6% Operating margin (TTM), FY25 Q2: -1.5% Operating margin (TTM), FY25 Q3: -6.4% Operating margin (TTM), FY25 Q4: -6.8% Operating margin (TTM), FY26 Q1: -7.1% Operating margin (TTM), FY26 Q2: -6.5% -6.5%

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

View chart data
Period Operating margin (TTM)
FY23 Q3 -10.0%
FY23 Q4 -8.0%
FY24 Q1 -7.6%
FY24 Q2 -3.3%
FY24 Q3 0.6%
FY24 Q4 0.6%
FY25 Q1 0.6%
FY25 Q2 -1.5%
FY25 Q3 -6.4%
FY25 Q4 -6.8%
FY26 Q1 -7.1%
FY26 Q2 -6.5%
FCF margin (TTM) Rockwell Medical, Inc.
-4% -2% 0% 2% 4% FY24 Q3 FY25 Q1 FY25 Q3 FY26 Q2 FCF margin (TTM), FY24 Q3: 2.7% FCF margin (TTM), FY24 Q4: 3.1% FCF margin (TTM), FY25 Q1: 2.2% FCF margin (TTM), FY25 Q2: 3.1% FCF margin (TTM), FY25 Q3: -3.9% FCF margin (TTM), FY25 Q4: -1.7% FCF margin (TTM), FY26 Q1: 2.6% FCF margin (TTM), FY26 Q2: 2.2% 2.2%

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

View chart data
Period FCF margin (TTM)
FY24 Q3 2.7%
FY24 Q4 3.1%
FY25 Q1 2.2%
FY25 Q2 3.1%
FY25 Q3 -3.9%
FY25 Q4 -1.7%
FY26 Q1 2.6%
FY26 Q2 2.2%

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.

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 Jun 2026
Income
Revenue 55 60 49 50 52 54 55 53 57 63 61 62 62 73 84 101 69 69
Gross profit 8 10 6 7 7 9 9 7 4 −2 3 3 −2 4 9 17 12 12
EBITDA −4 −1 −21 −53 −46 −17 −14 −19 −25 −32 −34 −28 −30 −16 −5 3 −2 −3
Operating income −5 −3 −22 −54 −47 −18 −15 −20 −26 −32 −35 −28 −30 −17 −7 1 −5 −5
Net income −6 −3 −21 −54 −49 −21 −14 −20 −26 −32 −34 −31 −33 −19 −8 −0 −5 −5
Diluted EPS −$0.37 −$1.76 −$13.31 −$2.65 −$1.48 −$0.52 −$0.29 −$0.39 −$5.61 −$0.61 −$6.16 −$0.41 −$3.83 −$1.31 −$0.37 −$0.03 −$0.15 —
Growth (year on year)
Revenue — +8.8% −17.8% +1.8% +5.1% +3.5% +2.1% −3.7% +7.5% +10.6% −3.3% +1.5% −0.4% +17.6% +14.8% +21.4% −31.8% −21.1%
EBITDA — — — — — — — — — — — — — — — — −189.6% —
Margins
Gross margin 14.4% 16.6% 11.5% 13.4% 12.7% 15.8% 16.1% 12.7% 6.5% −2.5% 4.6% 4.4% −3.9% 5.6% 10.4% 17.2% 16.9% 17.7%
EBITDA margin −7.8% −2.5% −41.9% −106.7% −87.9% −30.6% −25.8% −36.5% −44.3% −50.1% −55.0% −44.4% −47.9% −22.3% −6.3% 2.7% −3.6% −3.8%
Operating margin −10.0% −4.8% −44.3% −108.9% −89.8% −32.4% −27.3% −37.9% −45.2% −51.2% −56.3% −45.7% −49.0% −23.0% −8.0% 0.6% −6.8% −6.5%
Net margin −10.1% −4.5% −43.8% −108.4% −93.1% −39.4% −26.1% −37.2% −45.2% −50.7% −55.7% −49.7% −52.8% −25.7% −10.1% −0.5% −7.7% −7.3%
Free-cash-flow margin — — — — — — — — — — — — — — −11.6% 3.1% −1.7% 2.2%
Cash flow
Cash from operations −1 2 −11 −31 −51 4 −13 −12 −21 −20 −27 −30 −34 −17 −9 4 −1 3
Capital spending — — — — — — — — — — — — — — 0 1 1 1
Free cash flow — — — — — — — — — — — — — — −10 3 −1 2
Stock-based pay 2 3 4 5 6 10 9 10 7 4 5 0 1 0 1 1 2 2
Free cash flow after stock pay — — — — — — — — — — — — — — −11 2 −3 −0
Balance sheet
Cash 23 12 6 5 12 66 31 17 8 23 12 49 13 10 9 16 11 11
Total debt 0 0 0 0 20 20 0 0 0 0 0 21 21 9 8 8 9 9
Net debt (negative = net cash) −23 −12 −6 −5 8 −46 −31 −17 −8 −23 −12 −28 7 −1 −1 −7 −2 −2
Diluted shares — 2m 2m 2m 3m 4m 5m 5m 5m 5m 6m 7m 9m 14m 23m 31m 36m —

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 7 checks passed · June 30, 2026
What it owns · $57m
Short-term assets $36mLonger-term assets $20m
What it owes, and who funded it · $57m
Short-term liabilities $11mLonger-term liabilities $10mShareholders' equity $35m
  • Short-term assets cover short-term liabilities $36m of assets due within a year against $11m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $36m short-term assets against $10m of longer-dated liabilities.
  • More cash than debt $11m of cash against $9m of debt.
  • Debt below 40% of shareholders' equity Debt is 26% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 520% to 26% over five years.
  • A year's operating cash flow covers at least 20% of debt $3m of operating cash flow against $9m of debt.
  • Operating profit covers interest at least five times over Operating income of −$5m against $1m of interest.

From Rockwell Medical, 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
+9.9%
year over year
R&D spending
0.0%
of revenue
Days sales outstanding
44 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in pharmaceuticals
Last 12 months unless stated RMTI DERM AYTU AQST BFRI ETON Median
Revenue, last 12 months $69m $68m $58m $54m $46m $106m $276m
Revenue growth, last 12 months −21.1% 20.9% −13.3% 22.6% 17.8% 81.5% 9.9%
Revenue growth, 3-year average −2.9% 3.5% −18.8% 5.2% 16.7% 53.8% 5.5%
Revenue growth, latest quarter 10.6% 23.3% 6.4% 38.1% 32.9% 98.6% 6.5%
Gross margin 17.7% 69.4% 64.0% 67.0% — 57.9% 62.0%
Operating margin −6.5% −4.4% −14.4% −97.5% −14.2% 15.4% −5.9%
Operating margin, 3-year average −3.8% −4.6% −9.6% −80.9% −36.6% −2.0% −7.4%
Net margin −7.3% −9.0% −24.8% −144.6% −13.8% 12.0% −7.3%
Cash from operations / revenue 4.2% −11.0% 5.7% −83.9% −17.2% 14.3% 10.2%
Free-cash-flow margin 2.2% 0.3% 5.6% −85.0% −17.2% 14.0% 8.6%
Free-cash-flow margin, 3-year average — — 5.8% −80.3% −31.6% 11.7% 7.4%
Stock pay / revenue 2.7% 8.9% 1.2% 17.3% 2.4% 4.9% 3.6%
Change in share count 9.9% 21.6% 52.9% 27.4% — 29.1% 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 -21.1% 10.0% 64 of 74
Change in growth rate Growth +9.6pp -0.3pp 7 of 74
Gross margin Profitability 17.7% 59.8% 53 of 59
Operating margin Profitability -6.5% -5.9% 35 of 67
Net margin Profitability -7.3% -7.3% 38 of 75
Free-cash-flow margin Cash generation 2.2% 10.1% 44 of 74
Stock pay as % of revenue Cash generation 2.7% 3.6% 32 of 69
Long-term debt as % of assets Balance sheet 12.8% 23.8% 17 of 53
Change in share count Balance sheet 9.9% 1.5% 49 of 62
Days sales outstanding Balance sheet 44 days 72 days 12 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
Geography
Region Revenue Share YoY
United States $60.4M 87.1% ▼ 34.6%
Outside the US $8.9M 12.9% ▼ 3.6%

From Rockwell Medical, Inc.'s 10-K filed March 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
$12,074
Institutions reporting
2
Positions opened / closed
2 / 0

Top buyers and sellers, Q2 2026: 2 institutions bought and 0 sold ; the biggest buyer was Harbour Investments, Inc (+22K shares) . See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Harbour Investments, Inc. $12,037 22K 99.7% —
Sbi Securities Co., Ltd. $37 0K 0.3% —

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 Rockwell Medical, 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 → $15,992 4 trades by 4 insiders · 72% under pre-set plans
Net ▼ $15,992 net selling
Insider Date Trade Shares Price Value
Strobeck Mark President and CEO October 1, 2026 Sell pre-set plan 1,000 $8.42 $8,420
Neri Jesse SVP and CFO January 2, 2026 Sell pre-set plan 886 $0.84 $744
Hunter Heather Chief Operating Officer January 2, 2026 Sell pre-set plan 2,868 $0.84 $2,409
Cooper John G Director November 18, 2025 Sell 5,079 $0.87 $4,419

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

Earnings dates and SEC filings

Results announcements

Next expected around November 2, 2026 estimated from the company's past filing pattern, not announced

  • August 13, 2026
  • May 7, 2026
  • March 26, 2026
  • January 20, 2026
  • November 12, 2025
  • August 14, 2025

Recent SEC filings

Data status

When each part of this page on Rockwell Medical, 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.

Rockwell Medical, Inc. in brief

What does Rockwell Medical, Inc. do?
Rockwell Medical, Inc. is a US-listed company in the pharmaceuticals industry. Its financial year ends in December.
What is Rockwell Medical, Inc.'s stock ticker?
Rockwell Medical, Inc. trades under the ticker RMTI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Rockwell Medical, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Rockwell Medical, Inc. reported revenue of $69.4M, 21.1% lower than a year earlier, according to its SEC filings.
What is Rockwell Medical, Inc.'s free cash flow?
Rockwell Medical, Inc.'s free-cash-flow margin is 2.2% of revenue over the trailing twelve months, ranking 44 of the 74 pharmaceuticals companies we cover.
What is Rockwell Medical, Inc.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of Rockwell Medical, Inc.'s free cash flow after stock-based pay gives ~$6.6 per share in the base case, and ~$5.9–$7.4 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
What is Rockwell Medical, Inc.'s market cap?
On December 31, 2025, Rockwell Medical, Inc.'s market capitalisation was about $299M and net debt of -$1.9M. Market figures come from third-party market data and may be delayed.
How much debt does Rockwell Medical, Inc. have?
Rockwell Medical, Inc.'s debt-to-equity ratio is 25.7%, from its latest balance sheet (520.2% five years earlier). The financial health section below sets out its other solvency checks.
Who are Rockwell Medical, Inc.'s competitors?
In our Pharmaceuticals peer group, the companies closest to Rockwell Medical, Inc. are Journey Medical Corp, Aytu Biopharma, Inc, Aquestive Therapeutics, Inc., Biofrontera Inc. and Eton Pharmaceuticals, Inc. The side-by-side comparison below sets their revenue, margins and growth against Rockwell Medical, Inc.'s.
Are insiders buying or selling Rockwell Medical, Inc. stock?
Over the last 12 months, Rockwell Medical, Inc.'s directors and officers reported 0 open-market purchases and 4 sales on Form 4. The insider trading page charts every trade.
When is Rockwell Medical, Inc.'s next earnings date?
Around November 12, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Rockwell Medical, Inc. announces its own schedule.