Royalty Pharma plc income statement
In fiscal 2025, Royalty Pharma plc reported revenue of $2.38bn, up 5.1% on the year before, operating income of $1.56bn (a 65.6% margin) and net income of $771m, or $1.78 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1,795 | 1,814 | 2,122 | 2,289 | 2,237 | 2,355 | 2,264 | 2,378 | 2,536 |
| Research and development | 393 | 83 | 26 | 200 | 177 | 52 | 2 | 452 | 239 |
| General and administrative | 62 | 103 | 182 | 183 | 227 | 250 | 237 | 573 | 604 |
| Operating income | 1,364 | 2,623 | 1,595 | 1,431 | 307 | 1,492 | 1,292 | 1,560 | 1,512 |
| Interest expense | 280 | 269 | 157 | 166 | 188 | 187 | 226 | 308 | 361 |
| Provision for credit losses | −57 | −1,019 | 156 | −13 | −194 | −22 | −100 | 26 | 4 |
| Income before tax | 1,518 | 2,461 | 1,702 | 1,241 | 230 | 1,700 | 1,331 | 1,324 | 1,350 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | 1,378 | 2,349 | 975 | 620 | 43 | 1,135 | 859 | 771 | 815 |
| Diluted EPS | — | — | $1.32 | $1.49 | $0.10 | $2.53 | $1.91 | $1.78 | $1.46 |
| Diluted shares (average) | — | — | 375m | 415m | 438m | 603m | 594m | 564m | 558m |
| EBITDA | — | — | — | — | — | 1,492 | 1,292 | 1,563 | 1,517 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 565 | 594 | 568 | 579 | 609 | 622 | 631 | 674 |
| Research and development | 1 | 1 | 51 | 301 | 51 | 51 | 40 | 98 |
| General and administrative | 57 | 68 | 111 | 180 | 119 | 164 | 159 | 162 |
| Operating income | 735 | 362 | 534 | 210 | 427 | 388 | 563 | 133 |
| Interest expense | 67 | 66 | 65 | 69 | 80 | 94 | 94 | 94 |
| Provision for credit losses | −34 | −36 | 14 | 8 | −4 | 9 | 7 | −8 |
| Income before tax | 806 | 334 | 434 | 93 | 444 | 356 | 468 | 81 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | 544 | 208 | 239 | 32 | 288 | 214 | 295 | 18 |
| Diluted EPS | $1.21 | $0.47 | $0.55 | $0.07 | $0.67 | $0.50 | $0.67 | $0.04 |
| EBITDA | 735 | 362 | 534 | 211 | 428 | 390 | 564 | 134 |
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