Royalty Pharma plc (RPRX) Income Statement
RPRX 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsRPRX revenue and net income
Where RPRX's revenue goes
2025Each bar shows an amount and its share of revenue. RPRX kept 32.4% of revenue as net income.
RPRX profit margins
RPRX growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +5.1% | +2.1% | +2.3% | +3.7% |
| Gross profit | +5.1% | +2.1% | +2.3% | +3.7% |
| Operating income | +20.7% | +71.9% | −0.5% | +7.0% |
| Net income | −10.2% | +162.1% | −4.6% | +2.9% |
| EPS (diluted) | +17.2% | +9.6% | −2.7% | +7.5% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
RPRX quarterly EPS vs estimates
Royalty Pharma beat the analyst EPS estimate in 8 of the last 8 quarters. Next report: November 4, 2026 (estimate $1.18).
RPRX income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.38B | $2.26B | $2.35B | $2.24B | $2.29B | $2.12B | $1.81B | $1.79B | $1.60B | $1.88B |
| Cost of revenue | $3.9M | $732.5M | $560.7M | $904.2M | $452.8M | $230.8M | $1.02B | $136.0M | $33.3M | $0 |
| Gross profit | $2.38B | $2.26B | $2.35B | $2.24B | $2.29B | $2.12B | $1.81B | $1.79B | $1.60B | $1.88B |
| Research & development | $452.0M | $2.0M | $52.0M | $177.1M | $200.1M | $26.3M | $83.0M | $392.6M | $117.9M | $91.0M |
| Sales, general & admin | $573.5M | $236.7M | $249.7M | $227.3M | $182.8M | $181.7M | $103.4M | $61.9M | $106.4M | $17.3M |
| Total operating expenses | $818.7M | $971.1M | $862.4M | $1.93B | $858.7M | $527.0M | −$808.9M | $430.4M | $658.2M | $1.09B |
| Operating income | $1.56B | $1.29B | $1.49B | $307.1M | $1.43B | $1.60B | $2.62B | $1.36B | $939.7M | $722.9M |
| Interest income | $33.6M | $47.3M | $72.3M | $78.3M | $53.5M | $28.4M | $22.3M | $24.4M | $6.8M | — |
| Interest expense | $307.7M | $225.5M | $187.2M | $188.0M | $166.1M | $157.1M | $268.6M | $280.0M | $247.3M | $238.9M |
| Income before taxes | $1.32B | $1.33B | $1.70B | $230.1M | $1.24B | $1.70B | $2.46B | $1.52B | $1.34B | $761.9M |
| Income taxes | $553.2M | $472.0M | $565.3M | $187.2M | $762.4M | $1.15B | $349.3M | $433.4M | $542.7M | $196.0M |
| Net income | $770.9M | $859.0M | $1.13B | $42.8M | $619.7M | $975.0M | $2.35B | $1.38B | $1.21B | $565.9M |
| EBITDA | $1.64B | $1.56B | $1.89B | $423.7M | $1.43B | $1.88B | $2.75B | $1.83B | $1.62B | $1.07B |
| EPS (diluted) | $4.84 | $4.13 | $4.75 | $3.68 | $2.91 | $5.55 | $6.67 | — | $3.75 | −$0.16 |
| Gross margin | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 65.6% | 57.1% | 63.4% | 13.7% | 62.5% | 75.2% | 144.6% | 76.0% | 58.8% | 38.5% |
| Net margin | 32.4% | 37.9% | 48.2% | 1.9% | 27.1% | 45.9% | 129.4% | 76.8% | 75.7% | 30.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $674.1M | $630.6M | $622.0M | $609.3M | $578.7M | $568.2M | $593.6M | $564.7M | $537.3M | $568.0M | $596.1M | $536.3M |
| Cost of revenue | $268.2M | $1.2M | $1.2M | $1.3M | $203.9M | $127.1M | $164.0M | $227.6M | $6.0M | $583.6M | $76.5M | $277.1M |
| Gross profit | $405.9M | $629.4M | $622.0M | $609.3M | $578.7M | $568.2M | $593.6M | $564.7M | $537.3M | $568.0M | $596.1M | $536.3M |
| Research & development | $97.9M | $40.0M | $51.0M | $50.5M | $300.5M | $50.5M | $500,000 | $500,000 | $500,000 | $500,000 | $500,000 | $50.5M |
| Sales, general & admin | $161.9M | $159.0M | $164.3M | $118.7M | $179.8M | $110.7M | $67.6M | $56.7M | $55.0M | $57.7M | $59.2M | $57.2M |
| Total operating expenses | $272.8M | −$3.1M | $233.6M | $182.1M | $368.9M | $34.1M | $232.1M | −$170.4M | $267.6M | $641.8M | −$16.8M | $384.9M |
| Operating income | $133.0M | $632.5M | $388.4M | $427.2M | $209.8M | $534.2M | $361.5M | $735.1M | $269.6M | −$73.8M | $612.9M | $151.4M |
| Interest income | $5.1M | $6.2M | $7.1M | $6.9M | $8.3M | $11.3M | $9.0M | $17.5M | $13.4M | $7.4M | $6.5M | $23.4M |
| Interest expense | $93.6M | $93.7M | $94.2M | $79.6M | $68.7M | $65.3M | $65.8M | $66.5M | $49.0M | $44.2M | $47.3M | $46.0M |
| Income before taxes | $81.5M | $468.3M | $355.9M | $444.2M | $90.6M | $433.4M | $334.4M | $806.4M | $194.4M | −$4.3M | $717.6M | $122.1M |
| Income taxes | — | $173.0M | $142.0M | $156.0M | $60.5M | — | $126.0M | $262.4M | $92.4M | −$9.1M | $223.0M | $50.0M |
| Net income | $17.9M | $295.0M | $214.2M | $288.2M | $30.2M | $238.3M | $208.2M | $544.0M | $102.0M | $4.8M | $494.3M | $72.1M |
| EBITDA | $176.4M | $563.1M | $451.3M | $525.1M | $159.3M | $498.7M | $400.1M | $872.9M | $243.4M | $40.0M | $764.8M | $168.1M |
| EPS (diluted) | $1.32 | $1.30 | $1.47 | $1.17 | $1.14 | $1.06 | $1.15 | $1.04 | $0.96 | $0.98 | $1.52 | $0.79 |
| Gross margin | 60.2% | 99.8% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% |
| Operating margin | 19.7% | 100.3% | 62.4% | 70.1% | 36.3% | 94.0% | 60.9% | 130.2% | 50.2% | −13.0% | 102.8% | 28.2% |
| Net margin | 2.7% | 46.8% | 34.4% | 47.3% | 5.2% | 41.9% | 35.1% | 96.3% | 19.0% | 0.8% | 82.9% | 13.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in RPRX's financial statements (latest annual report filed February 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
RPRX financial results
In fiscal year 2025 (ended December 31, 2025), Royalty Pharma reported revenue of $2.4 billion, up 5.1% from the year before. It had net income of $770.9 million (down 10.2%), a net profit margin of 32.4%. Diluted earnings per share came to $4.84. Over five years revenue grew at an average rate of 2.3% a year.
See the RPRX stock overview for the latest quote and news, or the RPRX chart for price history and technical indicators.
RPRX income statement FAQ
What is Royalty Pharma's annual revenue?
Royalty Pharma reported total revenue of $2.4 billion for fiscal year 2025, which ended on December 31, 2025. That was up 5.1% from $2.3 billion the previous year.
Is Royalty Pharma profitable?
Yes. Royalty Pharma reported net income of $770.9 million in fiscal 2025, a net profit margin of 32.4%; its operating margin was 65.6%.
What is Royalty Pharma's gross margin?
Royalty Pharma's gross margin was 100.0% in fiscal 2025: for every $100 of revenue, Royalty Pharma kept $100 after the direct cost of its products and services.
How much does Royalty Pharma spend on research and development?
Royalty Pharma spent $452.0 million on research and development in fiscal 2025, 19.0% of revenue.
How fast is Royalty Pharma growing?
Revenue grew 2.3% a year on average over the last five fiscal years, from $2.1 billion to $2.4 billion.
What are Royalty Pharma's earnings per share?
Royalty Pharma earned $4.84 per diluted share in fiscal 2025, compared with $4.13 a year earlier.
When will Royalty Pharma report its next earnings?
Royalty Pharma is expected to report results for the quarter ending September 30, 2026 on November 4, 2026 before the market opens.
When does Royalty Pharma's fiscal year end?
Royalty Pharma's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 11, 2026.