Harmony Biosciences Holdings, Inc. (HRMY) Key Metrics
HRMY valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $2.21B
- Enterprise value
- $1.84B
- P/E (TTM)
- 12.2 10-yr median 15.1
- Forward P/E
- 10.1
- PEG ratio
- —
- Price / sales
- 2.3 10-yr median 5.5
- Price / book
- 2.4 10-yr median 6.3
- EV / EBITDA
- 6.6 10-yr median 8.1
- Dividend yield
- —
- Beta
- 1.01
HRMY key metrics, 2018–2025
Fiscal year ended December 31, 2025 · U.S. dollarsHRMY valuation Price multiples at each fiscal year-end price.
HRMY returns How much profit the business earns on the capital it uses.
HRMY per-share figures Results divided by the shares outstanding at year-end.
HRMY financial health Debt, liquidity and how easily interest is covered.
HRMY efficiency & capital use Working capital cycle and where the cash goes.
HRMY valuation history
HRMY returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
HRMY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
HRMY cash returned to shareholders
HRMY price vs earnings per share
HRMY key metrics
2018–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||
| Market capitalization | $2.19B | $1.99B | $1.95B | $3.37B | $2.52B | $2.09B | — | — |
| Enterprise value | $1.65B | $1.71B | $1.79B | $3.23B | $2.49B | $2.06B | — | — |
| P/E ratio | 13.8 | 13.7 | 15.1 | 18.6 | 73.0 | — | — | — |
| Price / sales | 2.5 | 2.8 | 3.4 | 7.7 | 8.3 | 13.1 | — | — |
| Price / book | 2.5 | 3.0 | 4.2 | 8.4 | 13.5 | 21.5 | — | — |
| Price / free cash flow | 6.3 | 9.1 | 8.9 | 23.3 | 25.7 | — | — | — |
| Price / operating cash flow | 6.3 | 9.1 | 8.9 | 23.3 | 25.6 | — | — | — |
| EV / sales | 1.9 | 2.4 | 3.1 | 7.4 | 8.1 | 12.9 | — | — |
| EV / EBITDA | 6.5 | 7.3 | 8.1 | 22.0 | 30.9 | — | — | — |
| EV / free cash flow | 4.8 | 7.8 | 8.2 | 22.4 | 25.3 | — | — | — |
| Earnings yield | 7.2% | 7.3% | 6.6% | 5.4% | 1.4% | −1.8% | — | — |
| Free cash flow yield | 15.9% | 11.0% | 11.2% | 4.3% | 3.9% | −0.2% | — | — |
| Dividend yield | — | — | 0.3% | — | — | 9.6% | — | — |
| Shareholder yield (dividends + buybacks) | 0.0% | 0.0% | 5.4% | 0.0% | 0.0% | 9.6% | — | — |
| Share price at fiscal year-end | $37.42 | $34.41 | $32.30 | $55.10 | $42.64 | $36.15 | — | — |
| Per share | ||||||||
| Revenue per share | $14.83 | $12.35 | $9.64 | $7.17 | $5.16 | $2.76 | $0.09 | $0.00 |
| Earnings per share | $2.71 | $2.51 | $2.13 | $2.97 | $0.58 | −$0.64 | −$2.39 | −$0.81 |
| Operating cash flow per share | $5.95 | $3.80 | $3.63 | $2.36 | $1.66 | −$0.05 | −$1.18 | −$0.79 |
| Free cash flow per share | $5.94 | $3.78 | $3.63 | $2.36 | $1.66 | −$0.09 | −$1.19 | −$0.82 |
| Cash per share | $13.24 | $8.07 | $5.85 | $5.29 | $3.96 | $3.95 | $0.38 | $1.70 |
| Book value per share | $14.86 | $11.39 | $7.74 | $6.59 | $3.15 | $1.68 | −$0.18 | $1.66 |
| Tangible book value per share | $13.34 | $9.43 | $5.46 | $3.96 | $0.72 | −$1.13 | −$1.32 | $1.66 |
| Dividends per share | — | — | $0.08 | — | — | $3.46 | $2.26 | — |
| Capex per share | $0.01 | $0.02 | $0.01 | $0.00 | $0.01 | $0.03 | $0.00 | $0.03 |
| Debt per share | $4.09 | $3.13 | $3.21 | $3.14 | $3.31 | $3.36 | $1.54 | $6.58 |
| Shares outstanding | 58.5M | 57.9M | 60.4M | 61.1M | 59.2M | 57.8M | 63.7M | 49.2M |
| Change in shares outstanding | +1.2% | −4.1% | −1.2% | +3.2% | +2.3% | −9.2% | +29.3% | — |
| Returns & profitability | ||||||||
| Return on equity (ROE) | 20.8% | 25.8% | 29.6% | 61.6% | 24.4% | −86.3% | — | −48.9% |
| Return on invested capital (ROIC) | 43.5% | 42.5% | 49.3% | 57.3% | 76.8% | 21.5% | −60.0% | −10.2% |
| Return on assets (ROA) | 14.0% | 16.1% | 17.4% | 32.8% | 8.0% | −13.8% | −155.1% | −44.7% |
| Return on tangible assets | 13.4% | 16.4% | 19.1% | 35.4% | 11.9% | −14.0% | −440.3% | −44.7% |
| Free cash flow margin | 40.1% | 30.6% | 37.6% | 33.0% | 32.2% | −3.1% | — | — |
| Income quality (OCF / net income) | 2.19 | 1.51 | 1.70 | 0.80 | 2.85 | — | — | — |
| Financial health | ||||||||
| Total debt | $239.6M | $181.4M | $193.6M | $191.6M | $195.7M | $194.2M | $97.9M | $324.2M |
| Cash & short-term investments | $775.3M | $467.2M | $353.5M | $323.1M | $234.3M | $228.6M | $24.5M | $83.5M |
| Net debt | −$535.8M | −$285.8M | −$159.9M | −$131.5M | −$38.6M | −$34.4M | $73.5M | $240.7M |
| Debt / equity | 0.28 | 0.28 | 0.41 | 0.48 | 1.05 | 2.00 | — | 3.98 |
| Debt / assets | 0.19 | 0.18 | 0.24 | 0.28 | 0.45 | 0.45 | 0.92 | 3.63 |
| Net debt / EBITDA | −2.10 | −1.22 | −0.72 | −0.90 | −0.48 | −22.72 | — | — |
| Current ratio | 3.60 | 3.31 | 2.75 | 5.07 | 5.29 | 1.95 | 1.58 | 11.99 |
| Quick ratio | 3.58 | 3.27 | 2.72 | 5.02 | 5.21 | 1.93 | 1.53 | 11.99 |
| Interest coverage | 14.2 | 10.9 | 8.1 | 6.4 | 3.6 | 0.6 | -24.0 | — |
| Working capital | $654.9M | $404.2M | $287.3M | $321.4M | $230.7M | $128.4M | $11.6M | $79.5M |
| Invested capital | $334.5M | $373.4M | $307.1M | $271.4M | $147.9M | $62.8M | $61.9M | $322.2M |
| Tangible asset value | $780.8M | $545.9M | $329.9M | $241.9M | $42.6M | −$65.2M | −$83.8M | $81.5M |
| Net current asset value | $505.6M | $239.2M | $106.6M | $129.3M | $37.5M | −$67.0M | −$86.8M | $78.9M |
| Graham number | $30.11 | $25.38 | $19.27 | $20.99 | $6.44 | — | — | — |
| Graham net-net per share | $7.67 | $3.34 | $1.11 | $1.56 | $0.27 | −$1.43 | −$1.41 | $1.54 |
| Capital allocation | ||||||||
| Dividends paid | — | — | $5.1M | — | — | $200.3M | $143.8M | — |
| Share buybacks (net) | $0 | $0 | $100.0M | $0 | $0 | $167,000 | $1.1M | $3.2M |
| Dividend payout ratio | — | — | 3.9% | — | — | — | — | — |
| Dividends + buybacks / free cash flow | 0.0% | 0.0% | 48.0% | 0.0% | 0.0% | — | — | — |
| Capex / revenue | 0.0% | 0.2% | 0.1% | 0.0% | 0.1% | 1.3% | 2.5% | — |
| Capex / operating cash flow | 0.1% | 0.5% | 0.1% | 0.1% | 0.3% | — | — | — |
| Capex / depreciation | 0.01 | 0.05 | 0.01 | 0.01 | 0.02 | 0.20 | 0.05 | 7.29 |
| Stock-based compensation / revenue | 5.2% | 6.0% | 5.4% | 6.1% | 5.3% | 2.9% | 165.3% | — |
| R&D / revenue | 21.8% | 20.4% | 13.1% | 16.2% | 9.9% | 12.2% | 1,160.9% | — |
| SG&A / revenue | 31.3% | 31.0% | 33.1% | 37.3% | 43.2% | 59.8% | 1,346.6% | — |
| Efficiency | ||||||||
| Days sales outstanding | 37.8 | 40.1 | 40.4 | 37.3 | 34.1 | 30.2 | 129.5 | — |
| Days of inventory on hand | 11.6 | 14.6 | 14.5 | 19.1 | 27.1 | 32.3 | 125.9 | — |
| Days payables outstanding | 28.9 | 36.6 | 32.4 | 10.5 | 11.7 | 58.7 | 905.2 | 2,900.2 |
| Cash conversion cycle (days) | 20.4 | 18.1 | 22.6 | 46.0 | 49.5 | 3.8 | -649.8 | — |
| Receivables turnover | 9.66 | 9.09 | 9.03 | 9.78 | 10.71 | 12.09 | 2.82 | — |
| Payables turnover | 12.62 | 9.96 | 11.27 | 34.88 | 31.22 | 6.22 | 0.40 | 0.13 |
| Inventory turnover | 31.60 | 24.97 | 25.10 | 19.13 | 13.45 | 11.30 | 2.90 | — |
| Asset turnover | 0.76 | 0.79 | 0.78 | 0.79 | 0.71 | 0.60 | 0.06 | 0.00 |
| Average receivables | $89.9M | $78.6M | $64.4M | $44.8M | $28.5M | $13.2M | $2.1M | $0 |
| Average payables | $15.7M | $15.7M | $10.8M | $2.4M | $1.8M | $4.5M | $3.9M | $1.5M |
| Average inventory | $6.3M | $6.3M | $4.8M | $4.4M | $4.1M | $2.5M | $544,000 | $0 |
| Intangibles / total assets | 7.0% | 11.3% | 16.9% | 23.9% | 33.2% | 38.0% | 67.7% | 0.0% |
Computed from HRMY's annual financial statements (latest annual report filed February 24, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
HRMY valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), Harmony Biosciences traded at 13.8 times earnings, against a 8-year median of 15.1. Based on the latest twelve months, the trailing P/E is 12.2 and the forward P/E is 10.1. Harmony Biosciences earned a return on equity of 20.8% and a return on invested capital of 43.5% in fiscal 2025. It ended the year with $239.6 million of debt and $775.3 million in cash and short-term investments, a net cash position of $535.8 million. The share count rose 18.9% from 49.2M to 58.5M over 7 years.
See the HRMY income statement, the HRMY chart for price history, or the HRMY stock overview for the latest quote and news.
HRMY key metrics FAQ
What is Harmony Biosciences's P/E ratio?
Harmony Biosciences's trailing P/E ratio is 12.2 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 10.1. At the end of fiscal 2025 it was 13.8, compared with a 8-year median of 15.1.
What is Harmony Biosciences's EV/EBITDA?
Harmony Biosciences's enterprise value was 6.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.7 billion, EBITDA $255.0 million); the current EV/EBITDA is 6.6.
What is Harmony Biosciences's return on equity?
Harmony Biosciences's return on equity (ROE) was 20.8% in fiscal 2025: net income of $158.7 million on average shareholders' equity of $764.7 million.
What is Harmony Biosciences's ROIC?
Harmony Biosciences's return on invested capital was 43.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Harmony Biosciences have?
Harmony Biosciences had total debt of $239.6 million at the end of fiscal 2025, a debt-to-equity ratio of 0.28 and more cash than debt.
What is Harmony Biosciences's free cash flow yield?
Harmony Biosciences generated $347.9 million of free cash flow in fiscal 2025, a free cash flow yield of 15.9% on its market value at year-end ($2.2 billion).
What is Harmony Biosciences's current ratio?
Harmony Biosciences's current ratio was 3.60 at the end of fiscal 2025: current assets were 3.60 times current liabilities.