Royalty Pharma plc (RPRX) Balance Sheet
RPRX balance sheet, 2025
December 31, 2025 · U.S. dollars$19.62B assets = $9.91B liabilities + $9.71B equity
Both columns are drawn to the same scale: what RPRX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RPRX financial health
Descriptive bands, not a rating. Fiscal 2025.
RPRX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $10.48B2016 | $19.62B2025 | +7.2%/yr | |
| Total liabilities | $6.02B2016 | $9.91B2025 | +5.7%/yr | |
| Shareholders’ equity | $4.45B2016 | $6.48B2025 | +4.3%/yr | |
| Cash & short-term investments | $1.67B2016 | $637.5M2025 | −10.2%/yr | |
| Total debt | $5.90B2016 | $8.95B2025 | +4.7%/yr | |
| Net cash (debt) | −$4.22B2016 | −$8.31B2025 | −$4.1B | |
| Working capital | $2.71B2016 | −$17.2M2025 | −$2.7B | |
| Book value per share | $7.322016 | $11.572025 | +5.2%/yr | |
| Current ratio | 10.102016 | 0.972025 | −9.13 | |
| Debt / equity | 1.332016 | 1.382025 | +0.06 | |
| Shares outstanding | 607.0M2016 | 559.6M2025 | −0.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RPRX assets
RPRX liabilities and equity
RPRX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RPRX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $637.5M | $1.77B | $1.23B | $2.43B | $2.80B | $1.99B | $793.2M | $2.39B | $1.38B | $1.67B |
| Cash & equivalents | $618.7M | $929.0M | $477.0M | $1.71B | $1.54B | $1.01B | $246.2M | $1.92B | $1.38B | $1.67B |
| Short-term investments | $18.8M | $842.0M | $756.7M | $717.0M | $1.26B | $983.0M | $547.0M | $461.8M | — | — |
| Receivables | $883.7M | $27.0M | $22.4M | $36.6M | $68.3M | $39.2M | $38.8M | $198.6M | $0 | $0 |
| Inventory | $0 | $0 | $0 | $1 | $1 | $657.1M | $0 | $19.2M | $0 | $0 |
| Other current assets | $0 | $4.2M | $18.0M | $90.5M | $6.6M | $8.6M | $92,000 | $4.7M | $1.57B | $1.33B |
| Total current assets | $619.0M | $1.80B | $1.27B | $2.55B | $2.88B | $2.70B | $832.1M | $2.61B | $2.95B | $3.00B |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $924.6M | $15.13B | $1.8M | $14.5M | $5.7M | $28.7M | $51.7M | $75.6M | $0 | $0 |
| Long-term investments | $17.09B | $16.39B | $15.10B | $14.12B | $14.36B | $12.97B | $11.48B | $8.67B | $0 | $0 |
| Other non-current assets | $988.4M | $0 | $4.7M | $127.5M | $273.9M | $5.40B | $88.0M | $19.1M | $8.43B | $7.48B |
| Total assets | $19.62B | $18.22B | $16.38B | $16.81B | $17.52B | $21.10B | $12.45B | $11.37B | $11.37B | $10.48B |
| Liabilities | ||||||||||
| Accounts payable | $19.4M | $13.4M | $15.2M | $7.9M | $5.6M | $10.8M | $11.2M | $4.5M | — | $1.9M |
| Short-term debt | $380.0M | $997.8M | — | $997.5M | $6.89B | $282.0M | $282.0M | $281.4M | $280.9M | $172.7M |
| Deferred revenue | — | — | — | — | — | — | $31.0M | — | — | — |
| Total current liabilities | $636.2M | $1.25B | $161.4M | $1.17B | $171.2M | $307.9M | $333.4M | $580.2M | $383.4M | $297.3M |
| Long-term debt | $8.57B | $6.61B | $6.14B | $6.12B | $7.10B | $5.82B | $5.96B | $6.24B | $0 | $0 |
| Other long-term liabilities | $698.7M | $12.1M | $900,000 | $2.5M | $0 | $0 | $18.9M | $0 | $6.52B | $5.72B |
| Total liabilities | $9.91B | $7.88B | $6.30B | $7.29B | $7.27B | $6.12B | $6.31B | $6.82B | $6.90B | $6.02B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $106,000 | $108,000 | $108,000 | $107,000 | $106,000 | $102,000 | $3.28B | $3.28B | — | $26,000 |
| Retained earnings (deficit) | $2.36B | $2.85B | $2.52B | $1.96B | $2.26B | $1.92B | $2.83B | $1.22B | — | −$319.5M |
| Treasury stock | — | — | — | −$2.8M | −$2.7M | −$2.3M | −$4.3M | — | — | −$1.4M |
| Accumulated other comprehensive income | — | — | $63,000 | $63,000 | $16.5M | $34.4M | $2.1M | −$10.3M | — | — |
| Minority interest | $3.24B | $3.40B | $3.56B | $3.90B | $4.47B | $5.08B | — | — | — | — |
| Total shareholders' equity | $6.48B | $6.95B | $6.53B | $5.63B | $10.25B | $14.97B | $6.11B | $4.49B | $4.46B | $4.45B |
| Key figures | ||||||||||
| Total debt | $8.95B | $7.61B | $6.14B | $7.12B | $13.99B | $6.10B | $6.24B | $6.52B | $6.80B | $5.90B |
| Net cash (debt) | −$8.31B | −$5.84B | −$4.90B | −$4.69B | −$11.18B | −$4.11B | −$5.44B | −$4.13B | −$5.42B | −$4.22B |
| Working capital | −$17.2M | $548.5M | $1.11B | $1.39B | $2.71B | $2.39B | $498.7M | $2.03B | $2.56B | $2.71B |
| Tangible book value | $5.55B | −$8.18B | $6.52B | $5.61B | $10.24B | $14.94B | $6.05B | $4.41B | $4.46B | $4.45B |
| Book value per share | $11.57 | $11.69 | $10.83 | $9.96 | $24.71 | $39.88 | $17.24 | $12.67 | $12.59 | $7.32 |
| Shares outstanding | 559.6M | 594.0M | 602.9M | 564.9M | 414.8M | 375.5M | 354.2M | 354.2M | 354.2M | 607.0M |
| Current ratio | 0.97 | 1.44 | 7.90 | 2.19 | 16.81 | 8.76 | 2.50 | 4.50 | 7.69 | 10.10 |
| Quick ratio | 2.39 | 1.43 | 7.78 | 2.11 | 16.77 | 6.60 | 2.50 | 4.45 | 3.60 | 5.63 |
| Debt / equity | 1.38 | 1.10 | 0.94 | 1.26 | 1.36 | 0.41 | 1.02 | 1.45 | 1.52 | 1.33 |
| Equity / assets | 33.0% | 38.1% | 39.8% | 33.5% | 58.5% | 71.0% | 49.0% | 39.5% | 39.2% | 42.4% |
| 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 | $837.0M | $608.3M | $637.5M | $955.0M | $1.49B | $1.82B | $1.77B | $1.76B | $2.55B | $1.53B | $1.23B | $1.68B |
| Cash & equivalents | $812.0M | $586.4M | $619.0M | $938.9M | $631.9M | $1.09B | $929.0M | $950.1M | $1.76B | $843.0M | $477.0M | $936.4M |
| Short-term investments | $25.0M | $21.9M | $18.8M | $16.1M | $856.1M | $728.7M | $842.0M | $814.3M | $788.6M | $689.5M | $756.7M | $747.5M |
| Receivables | $889.5M | $807.4M | $883.7M | $889.0M | $27.7M | $23.8M | $27.0M | $24.9M | $23.6M | $22.2M | $22.4M | $37.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$790.7M | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $10.2M | $0 | $5.5M | $4.5M | $3.1M | $4.2M | $795.6M | $2.3M | $5.0M | $18.0M | $6.8M |
| Total current assets | $812.0M | $1.43B | $619.0M | $1.85B | $1.52B | $1.84B | $1.80B | $1.79B | $2.58B | $1.56B | $1.27B | $1.73B |
| Property, plant & equipment (net) | $0 | $0 | $0 | $19.8M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $923.5M | $17.47B | $924.6M | $930.0M | $16.06B | $0 | $0 | $14.97B | $5.3M | $0 | $1.8M | $16.3M |
| Long-term investments | $17.07B | $17.39B | $17.09B | $16.49B | $15.79B | $15.73B | $16.39B | $16.21B | $15.05B | $14.57B | $15.10B | $14.11B |
| Other non-current assets | $1.02B | $0 | $988.6M | $61.5M | $0 | $36.7M | $33.5M | $0 | $22.2M | $4.5M | $4.7M | $3.9M |
| Total assets | $19.82B | $19.82B | $19.62B | $19.35B | $18.32B | $17.61B | $18.22B | $18.04B | $17.66B | $16.13B | $16.38B | $15.86B |
| Liabilities | ||||||||||||
| Accounts payable | $35.6M | $25.5M | $19.4M | $41.4M | $20.2M | $37.6M | $13.4M | $22.1M | $23.4M | $11.6M | $15.2M | $13.6M |
| Short-term debt | $380.0M | $380.0M | $380.0M | $383.1M | $999.4M | $998.6M | $997.8M | $996.9M | — | — | — | — |
| Deferred revenue | — | — | — | — | — | — | — | −$22.1M | — | — | — | — |
| Total current liabilities | $630.9M | $535.7M | $636.2M | $530.8M | $1.21B | $1.18B | $1.25B | $1.17B | $275.7M | $124.6M | $161.4M | $127.9M |
| Long-term debt | $8.58B | $8.58B | $8.57B | $8.57B | $7.00B | $6.62B | $6.61B | $6.61B | $7.60B | $6.14B | $6.14B | $6.13B |
| Other long-term liabilities | $821.2M | $766.5M | $698.7M | $629.9M | $610.5M | $17.9M | $12.1M | $5.6M | $27.0M | $3.2M | $900,000 | $11.3M |
| Total liabilities | $10.03B | $9.88B | $9.91B | $9.73B | $8.82B | $7.82B | $7.88B | $7.78B | $7.90B | $6.27B | $6.30B | $6.27B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $45,000 | $45,000 | $106,000 | $107,000 | $107,000 | $106,000 | $108,000 | $108,000 | $108,000 | $108,000 | $108,000 | $108,000 |
| Retained earnings (deficit) | $2.46B | $2.51B | $2.36B | $2.30B | $2.22B | $2.48B | $2.85B | $2.76B | $2.38B | $2.43B | $2.52B | $2.13B |
| Accumulated other comprehensive income | $63,000 | $63,000 | — | $0 | $63,000 | — | — | $63,000 | $63,000 | $63,000 | $63,000 | $63,000 |
| Minority interest | $2.95B | $3.05B | $3.24B | $3.21B | $3.16B | — | — | — | — | — | — | — |
| Total shareholders' equity | $6.83B | $6.89B | $6.48B | $6.41B | $6.35B | $6.69B | $6.95B | $6.87B | $6.48B | $6.50B | $6.53B | $6.14B |
| Key figures | ||||||||||||
| Total debt | $8.96B | $8.96B | $8.95B | $8.97B | $8.00B | $7.62B | $7.61B | $7.61B | $7.60B | $6.14B | $6.14B | $6.13B |
| Net cash (debt) | −$8.12B | −$8.35B | −$8.31B | −$8.01B | −$6.51B | −$5.80B | −$5.84B | −$5.84B | −$5.05B | −$4.61B | −$4.90B | −$4.45B |
| Working capital | $181.1M | $890.1M | −$17.2M | $1.32B | $313.7M | $660.4M | $548.5M | $626.4M | $2.30B | $1.44B | $1.11B | $1.60B |
| Tangible book value | $5.91B | −$10.58B | $5.55B | $5.48B | −$9.71B | $6.69B | $6.95B | −$8.10B | $6.47B | $6.50B | $6.52B | $6.12B |
| Book value per share | $12.27 | $12.31 | $11.57 | $11.46 | $11.29 | $11.57 | $11.79 | $11.58 | $10.85 | $10.88 | $10.84 | $10.21 |
| Shares outstanding | 556.9M | 559.6M | 559.6M | 559.6M | 562.3M | 578.1M | 589.0M | 593.0M | 596.9M | 597.5M | 602.0M | 601.1M |
| Current ratio | 1.29 | 2.66 | 0.97 | 3.48 | 1.26 | 1.56 | 1.44 | 1.54 | 9.35 | 12.52 | 7.90 | 13.51 |
| Quick ratio | 2.74 | 2.64 | 2.39 | 3.47 | 1.26 | 1.56 | 1.43 | 1.53 | 9.35 | 12.48 | 7.78 | 13.46 |
| Debt / equity | 1.31 | 1.30 | 1.38 | 1.40 | 1.26 | 1.14 | 1.10 | 1.11 | 1.17 | 0.94 | 0.94 | 1.00 |
| Equity / assets | 34.5% | 34.8% | 33.0% | 33.2% | 34.6% | 38.0% | 38.1% | 38.1% | 36.7% | 40.3% | 39.8% | 38.7% |
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.
RPRX financial position
At the end of fiscal 2025 (December 31, 2025), Royalty Pharma had total assets of $19.6 billion (up 7.7% from a year earlier), total liabilities of $9.9 billion and shareholders' equity of $6.5 billion. It held $637.5 million in cash and short-term investments against $9.0 billion of debt, net debt of $8.3 billion. Its current ratio was 0.97. In the latest quarter (ended June 30, 2026) total assets were $19.8 billion and equity $6.8 billion.
Related: RPRX income statement, RPRX cash flow statement, RPRX key metrics. See the RPRX stock overview for the latest quote and news.
RPRX balance sheet FAQ
What are Royalty Pharma's total assets?
Royalty Pharma reported total assets of $19.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $18.2 billion a year earlier.
How much debt does Royalty Pharma have?
Royalty Pharma had $9.0 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.38.
How much cash does Royalty Pharma have?
Royalty Pharma held $637.5 million in cash and short-term investments at the end of fiscal 2025; with $9.0 billion of debt that is net debt of $8.3 billion.
What is Royalty Pharma's book value?
Royalty Pharma's shareholders' equity (book value) was $6.5 billion at the end of fiscal 2025, or $11.57 per share.
What is Royalty Pharma's current ratio?
Royalty Pharma had current assets of $619.0 million and current liabilities of $636.2 million, a current ratio of 0.97 (current liabilities exceed current assets).
How much goodwill does Royalty Pharma have?
Royalty Pharma carried $924.6 million of goodwill and intangible assets, 4.7% of total assets, at the end of fiscal 2025.