Neurocrine Biosciences, Inc. (NBIX) Balance Sheet
NBIX balance sheet, 2025
December 31, 2025 · U.S. dollars$4.63B assets = $1.38B liabilities + $3.25B equity
Both columns are drawn to the same scale: what NBIX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NBIX financial health
Current ratio3.39
Comfortable · current assets cover current liabilities 3.39×
Debt / equity0.13
Low leverage · $0.13 of debt for each $1 of equity
Equity / assets70.2%
Equity-funded · of assets funded by shareholders
Cash / debt356.5%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
NBIX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $365.1M2016 | $4.63B2025 | +32.6%/yr | |
| Total liabilities | $50.2M2016 | $1.38B2025 | +44.5%/yr | |
| Shareholders’ equity | $314.9M2016 | $3.25B2025 | +29.6%/yr | |
| Cash & short-term investments | $307.4M2016 | $1.48B2025 | +19.1%/yr | |
| Total debt | $14.9M2016 | $415.3M2025 | +44.8%/yr | |
| Net cash (debt) | $292.5M2016 | $1.07B2025 | +$772.6M | |
| Working capital | $280.0M2016 | $1.78B2025 | +$1.5B | |
| Book value per share | $3.632016 | $31.742025 | +27.2%/yr | |
| Current ratio | 10.212016 | 3.392025 | −6.81 | |
| Debt / equity | 0.052016 | 0.132025 | +0.08 | |
| Shares outstanding | 86.7M2016 | 102.5M2025 | +1.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NBIX assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NBIX liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NBIX debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NBIX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.48B | $1.08B | $1.03B | $989.3M | $711.3M | $801.0M | $670.5M | $650.9M | $515.9M | $307.4M |
| Cash & equivalents | $713.0M | $233.0M | $251.1M | $262.9M | $340.8M | $187.1M | $112.3M | $141.7M | $254.7M | $83.3M |
| Short-term investments | $767.4M | $843.1M | $780.5M | $726.4M | $370.5M | $613.9M | $558.2M | $509.2M | $261.2M | $224.1M |
| Receivables | $686.8M | $479.1M | $439.3M | $350.0M | $185.5M | $157.1M | $126.6M | $56.2M | $31.1M | $0 |
| Inventory | $69.0M | $57.4M | $38.3M | $35.1M | $30.5M | $28.0M | $17.3M | $10.9M | −$31.1M | $0 |
| Other current assets | $286.5M | $112.1M | $97.8M | $79.1M | $45.5M | $30.1M | $16.6M | $19.8M | $39.0M | $3.1M |
| Total current assets | $2.52B | $1.72B | $1.61B | $1.45B | $972.8M | $1.02B | $831.0M | $737.8M | $554.9M | $310.4M |
| Property, plant & equipment (net) | $545.2M | $592.0M | $347.3M | $145.6M | $155.8M | $127.4M | $116.2M | $33.9M | $10.8M | $6.3M |
| Goodwill & intangible assets | $0 | $42.2M | $41.3M | $42.6M | $0 | $0 | $12.5M | $11.2M | $0 | $0 |
| Long-term investments | $1.18B | $864.3M | $849.4M | $401.5M | $560.7M | $227.1M | $299.7M | $216.0M | $247.4M | $43.5M |
| Other non-current assets | $379.8M | $495.5M | $406.4M | $325.5M | $383.2M | $364.0M | $46.7M | $0 | $4.5M | $4.9M |
| Total assets | $4.63B | $3.72B | $3.25B | $2.37B | $2.07B | $1.73B | $1.31B | $993.2M | $817.6M | $365.1M |
| Liabilities | ||||||||||
| Accounts payable | $104.9M | $99.9M | $133.3M | $67.3M | $51.5M | $39.4M | $46.2M | $13.8M | $5.6M | $5.1M |
| Short-term debt | — | — | $170.1M | $169.4M | $16.5M | $10.3M | $408.8M | $62.3M | $38.4M | $14.9M |
| Deferred revenue | — | — | $229.3M | — | −$16.5M | −$10.3M | −$46.2M | $10.2M | $10.2M | $10.2M |
| Total current liabilities | $743.4M | $507.7M | $654.8M | $537.7M | $245.8M | $186.5M | $565.3M | $88.2M | $54.4M | $30.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $335.1M | $317.9M | $408.8M | $388.5M | $369.6M | $0 |
| Lease obligations | $415.3M | $455.1M | $258.3M | $93.5M | $105.3M | $94.4M | $86.8M | — | — | — |
| Other long-term liabilities | $635.0M | $621.3M | $364.6M | $123.2M | $117.6M | $104.1M | $0 | $35.7M | $21.4M | $19.8M |
| Total liabilities | $1.38B | $1.13B | $1.02B | $660.9M | $698.5M | $608.5M | $669.1M | $512.4M | $445.5M | $50.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $92,000 | $91,000 | $89,000 | $87,000 |
| Retained earnings (deficit) | $447.7M | $29.2M | −$157.1M | −$406.8M | −$635.8M | −$725.4M | −$1.13B | −$1.18B | −$1.20B | −$1.06B |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $13.1M | $5.8M | $7.0M | −$7.9M | −$1.7M | $1.8M | $1.4M | −$1.9M | −$1.9M | −$318,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $3.25B | $2.59B | $2.23B | $1.71B | $1.37B | $1.13B | $636.9M | $480.8M | $372.1M | $314.9M |
| Key figures | ||||||||||
| Total debt | $415.3M | $455.1M | $428.4M | $262.9M | $440.4M | $412.3M | $817.6M | $450.8M | $408.0M | $14.9M |
| Net cash (debt) | $1.07B | $621.0M | $603.2M | $726.4M | $270.9M | $388.7M | −$147.1M | $200.1M | $107.9M | $292.5M |
| Working capital | $1.78B | $1.22B | $952.2M | $915.8M | $727.0M | $829.7M | $265.7M | $649.5M | $500.5M | $280.0M |
| Tangible book value | $3.25B | $2.55B | $2.19B | $1.67B | $1.37B | $1.13B | $624.4M | $469.6M | $372.1M | $314.9M |
| Book value per share | $31.74 | $24.97 | $22.10 | $17.27 | $14.03 | $11.52 | $6.65 | $5.04 | $4.22 | $3.63 |
| Shares outstanding | 102.5M | 103.7M | 101.0M | 98.9M | 97.9M | 97.8M | 95.7M | 95.4M | 88.1M | 86.7M |
| Current ratio | 3.39 | 3.40 | 2.45 | 2.70 | 3.96 | 5.45 | 1.47 | 8.36 | 10.20 | 10.21 |
| Quick ratio | 2.92 | 3.06 | 2.25 | 2.49 | 3.65 | 5.14 | 1.41 | 8.01 | 10.05 | 10.11 |
| Debt / equity | 0.13 | 0.18 | 0.19 | 0.15 | 0.32 | 0.37 | 1.28 | 0.94 | 1.10 | 0.05 |
| Equity / assets | 70.2% | 69.6% | 68.6% | 72.1% | 66.3% | 64.9% | 48.8% | 48.4% | 45.5% | 86.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $389.8M | $1.32B | $1.48B | $1.11B | $975.6M | $943.5M | $1.08B | $1.23B | $1.04B | $1.21B | $1.03B | $1.10B |
| Cash & equivalents | $332.4M | $266.5M | $713.0M | $340.2M | $264.0M | $194.1M | $233.0M | $349.1M | $139.7M | $396.3M | $251.1M | $293.7M |
| Short-term investments | $57.4M | $1.05B | $767.4M | $774.6M | $711.6M | $749.4M | $843.1M | $878.9M | $899.2M | $814.3M | $780.5M | $801.4M |
| Receivables | $887.0M | $768.1M | $686.8M | $728.0M | $595.7M | $516.0M | $479.1M | $481.1M | $468.2M | $450.7M | $439.3M | $417.8M |
| Inventory | $104.2M | $64.5M | $69.0M | $69.3M | $56.9M | $59.1M | $57.4M | $45.8M | $42.5M | $37.2M | $38.3M | $28.8M |
| Other current assets | $256.5M | $287.3M | $286.5M | $246.3M | $120.7M | $119.3M | $112.1M | $121.7M | $120.2M | $100.5M | $97.8M | $108.2M |
| Total current assets | $1.64B | $2.44B | $2.52B | $2.16B | $1.75B | $1.64B | $1.72B | $1.88B | $1.67B | $1.80B | $1.61B | $1.65B |
| Property, plant & equipment (net) | $538.5M | $538.0M | $545.2M | $566.2M | $584.0M | $589.2M | $592.0M | $337.3M | $343.0M | $346.1M | $347.3M | $149.6M |
| Goodwill & intangible assets | $2.73B | $0 | $0 | $35.7M | $37.2M | $36.4M | $40.2M | $40.6M | $39.2M | $34.3M | $41.3M | $34.9M |
| Long-term investments | $239.2M | $1.48B | $1.18B | $1.12B | $961.3M | $909.5M | $864.3M | $770.6M | $781.4M | $863.9M | $849.4M | $587.5M |
| Other non-current assets | $217.3M | $455.0M | $379.8M | $388.8M | $558.4M | $514.7M | $497.5M | $509.9M | $471.6M | $429.1M | $406.4M | $426.3M |
| Total assets | $5.36B | $4.91B | $4.63B | $4.27B | $3.89B | $3.69B | $3.72B | $3.54B | $3.31B | $3.47B | $3.25B | $2.85B |
| Liabilities | ||||||||||||
| Accounts payable | $142.0M | $120.0M | $104.9M | $119.9M | $104.6M | $110.0M | $99.9M | $95.7M | $107.2M | $87.3M | $133.3M | $93.8M |
| Short-term debt | — | — | — | $51.3M | — | — | — | $34.8M | $35.4M | $259.0M | $170.1M | $187.7M |
| Deferred revenue | — | — | — | — | — | — | — | $46.2M | — | $24.8M | $339.9M | −$93.8M |
| Total current liabilities | $874.5M | $831.7M | $743.4M | $638.0M | $546.3M | $522.9M | $507.7M | $429.7M | $398.5M | $712.9M | $654.8M | $691.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $401.8M | $406.2M | $415.3M | $428.4M | $439.1M | $447.5M | $455.1M | $251.4M | $256.2M | $252.9M | $258.3M | $85.9M |
| Other long-term liabilities | $791.0M | $667.1M | $635.0M | $624.1M | $649.2M | $629.1M | $621.3M | $386.4M | $397.3M | $373.4M | $364.6M | $154.5M |
| Total liabilities | $1.67B | $1.50B | $1.38B | $1.26B | $1.20B | $1.15B | $1.13B | $816.1M | $795.8M | $1.09B | $1.02B | $846.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 | $100,000 |
| Retained earnings (deficit) | $724.0M | $589.6M | $447.7M | $294.0M | $84.5M | −$5.3M | $29.2M | $81.1M | −$48.7M | −$113.7M | −$157.1M | −$304.8M |
| Accumulated other comprehensive income | $5.1M | $400,000 | $13.1M | $13.2M | $12.5M | $9.0M | $5.8M | $14.5M | $2.5M | $3.3M | $7.0M | −$1.7M |
| Total shareholders' equity | $3.69B | $3.41B | $3.25B | $3.00B | $2.69B | $2.54B | $2.59B | $2.72B | $2.51B | $2.39B | $2.23B | $2.00B |
| Key figures | ||||||||||||
| Total debt | $401.8M | $406.2M | $415.3M | $428.4M | $439.1M | $447.5M | $455.1M | $251.4M | $256.2M | $511.9M | $428.4M | $273.6M |
| Net cash (debt) | −$12.0M | $910.0M | $1.07B | $686.4M | $536.5M | $496.0M | $621.0M | $976.6M | $782.7M | $698.7M | $603.2M | $821.5M |
| Working capital | $763.0M | $1.60B | $1.78B | $1.52B | $1.20B | $1.11B | $1.22B | $1.45B | $1.27B | $1.09B | $952.2M | $958.3M |
| Tangible book value | $967.0M | $3.41B | $3.25B | $2.97B | $2.66B | $2.50B | $2.55B | $2.68B | $2.47B | $2.35B | $2.19B | $1.97B |
| Book value per share | $35.45 | $32.95 | $31.74 | $29.30 | $26.68 | $24.74 | $25.17 | $26.07 | $24.15 | $23.03 | $21.82 | $19.80 |
| Shares outstanding | 104.2M | 103.4M | 102.5M | 102.5M | 101.0M | 102.5M | 102.9M | 104.3M | 103.9M | 103.6M | 102.3M | 101.1M |
| Current ratio | 1.87 | 2.93 | 3.39 | 3.38 | 3.20 | 3.13 | 3.40 | 4.37 | 4.19 | 2.52 | 2.45 | 2.39 |
| Quick ratio | 1.46 | 2.51 | 2.92 | 2.89 | 2.88 | 2.79 | 3.06 | 3.98 | 3.78 | 2.33 | 2.25 | 2.19 |
| Debt / equity | 0.11 | 0.12 | 0.13 | 0.14 | 0.16 | 0.18 | 0.18 | 0.09 | 0.10 | 0.21 | 0.19 | 0.14 |
| Equity / assets | 68.9% | 69.5% | 70.2% | 70.4% | 69.3% | 68.8% | 69.6% | 76.9% | 75.9% | 68.7% | 68.6% | 70.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 11, 2026); data from EODHD.
NBIX financial position
At the end of fiscal 2025 (December 31, 2025), Neurocrine Biosciences had total assets of $4.6 billion (up 24.5% from a year earlier), total liabilities of $1.4 billion and shareholders' equity of $3.3 billion. It held $1.5 billion in cash and short-term investments against $415.3 million of debt, a net cash position of $1.1 billion. Its current ratio was 3.39. In the latest quarter (ended June 30, 2026) total assets were $5.4 billion and equity $3.7 billion.
Related: NBIX income statement, NBIX cash flow statement, NBIX key metrics. See the NBIX stock overview for the latest quote and news.
NBIX balance sheet FAQ
What are Neurocrine Biosciences's total assets?
Neurocrine Biosciences reported total assets of $4.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $3.7 billion a year earlier.
How much debt does Neurocrine Biosciences have?
Neurocrine Biosciences had $415.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.13.
How much cash does Neurocrine Biosciences have?
Neurocrine Biosciences held $1.5 billion in cash and short-term investments at the end of fiscal 2025; with $415.3 million of debt that is net cash of $1.1 billion.
What is Neurocrine Biosciences's book value?
Neurocrine Biosciences's shareholders' equity (book value) was $3.3 billion at the end of fiscal 2025, or $31.74 per share.
What is Neurocrine Biosciences's current ratio?
Neurocrine Biosciences had current assets of $2.5 billion and current liabilities of $743.4 million, a current ratio of 3.39 (it can cover its short-term obligations).