Royalty Pharma plc key statistics and ratios

In fiscal 2025, Royalty Pharma plc had return on equity of 7.7%, an operating margin of 65.6%, debt equal to 92.1% of equity and a current ratio of 2.40. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

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

Royalty Pharma plc: financial ratios, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Operating margin	76.0%	144.6%	75.2%	62.5%	13.7%	63.4%	57.1%	65.6%	59.6%
Net margin	76.8%	129.4%	45.9%	27.1%	1.9%	48.2%	37.9%	32.4%	32.1%
Return on equity	30.3%	43.9%	12.2%	6.2%	0.4%	11.6%	8.4%	7.7%	8.4%
Return on assets	—	18.9%	6.8%	3.7%	0.2%	6.8%	5.0%	4.1%	4.1%
Asset turnover	—	0.15	0.15	0.14	0.13	0.14	0.13	0.13	0.13
Current ratio	—	2.50	8.76	16.81	2.19	7.90	1.44	2.40	2.80
Debt to equity	0.0%	101.6%	58.8%	69.2%	74.7%	60.8%	73.6%	92.1%	91.6%
Interest cover (operating income ÷ interest)	4.9x	9.8x	10.2x	8.6x	1.6x	8.0x	5.7x	5.1x	4.2x
Effective tax rate	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
R&D as % of revenue	21.9%	4.6%	1.2%	8.7%	7.9%	2.2%	0.1%	19.0%	9.4%

US$ thousands unless shown otherwise. Fiscal quarters.

Royalty Pharma plc: financial ratios, quarterly
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
Operating margin	130.2%	60.9%	94.0%	36.3%	70.1%	62.4%	89.3%	19.7%
Net margin	96.3%	35.1%	42.1%	5.6%	47.3%	34.4%	46.7%	2.7%
Current ratio	1.54	1.44	1.56	1.26	3.48	2.40	2.66	2.80
Debt to equity	74.2%	73.6%	77.9%	84.3%	93.0%	92.1%	90.1%	91.6%
R&D as % of revenue	0.1%	0.1%	8.9%	51.9%	8.3%	8.1%	6.3%	14.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 7 checks passed · June 30, 2026

What it owns · $19.8bn

Short-term assets $1.8bnLonger-term assets $18.1bn

What it owes, and who funded it · $19.8bn

Short-term liabilities $631mLonger-term liabilities $9.4bnShareholders' equity $9.8bn

Short-term assets cover short-term liabilities $1.8bn of assets due within a year against $631m of liabilities due within a year.
Short-term assets cover long-term liabilities $1.8bn short-term assets against $9.4bn of longer-dated liabilities.
More cash than debt $812m of cash against $9.0bn of debt.
Debt below 40% of shareholders' equity Debt is 92% of equity.
Debt burden no higher than five years ago Debt to equity moved from 69% to 92% over five years.
A year's operating cash flow covers at least 20% of debt $3.0bn of operating cash flow against $9.0bn of debt.
Operating profit covers interest at least five times over Operating income of $1.5bn against $361m of interest.

From Royalty Pharma plc's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

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

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Figures from Royalty Pharma plc's SEC filings (10-K and 10-Q), retrieved October 20, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Royalty Pharma plc.