Alkermes plc: financial statements

ALKSNASDAQHealthcare · Pharmaceutical Preparations

Price

$47.03

November 13, 2026Market cap $7.8B

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The full history: 16 fiscal years, from FY2010
The estimated fair value, with its range and its certainty
The full analysis, 18 a month
More questions to the chat on its filings
Excel with every year
An email when it reports, changes its dividend or an officer buys

Financial statements

Each fiscal year's income statement, balance sheet and cash flow as the company filed them, and the latest quarters.

2023–2025 fiscal years

Click a line to see it on the chart.

Revenue

-5.8% a year over 2 years

Line	2023	2024	2025	Average a year
Revenue	$1.7B	$1.6B	$1.5B	-5.8%
Cost of revenue	$253M	$245M	$196M	-11.9%
Gross profit	$1.4B	$1.3B	$1.3B	-4.8%
Operating income	$414M	$421M	$254M	-21.7%
Net income	$356M	$367M	$242M	-17.6%
Earnings per share	$2.10	$2.17	$1.43	-17.5%
Earnings per share, basic	$2.14	$2.22	$1.47	-17.1%
Margins
Gross margin	84.8%	84.2%	86.7%
Operating margin	24.9%	27.0%	17.2%
Net margin	21.4%	23.6%	16.4%

Financial statements

ALKS's revenue, profits and cash flows from FY2010 to 2022, 13 more fiscal years

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By segment

Revenue and operating income by business segment or by product, as the company itself reports them in each year's 10-K. Each year from the latest filing that carries it, so a segment renamed or re-cut shows in its current form.

Product	2023	2024	2025	Share 2025
Vivitrol	$400M	$457M	$468M	32%
Aristada And Aristada Initio	$328M	$346M	$370M	25%
LYBALVI	$192M	$280M	$347M	23%
Royalty	$601M	$355M	$245M	17%
Manufacturing Revenue	$142M	$119M	$46M	3.1%

By segment

ALKS's revenue by product line from 2016 to 2022, 7 more fiscal years

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From the XBRL of 14 of the company's annual reports to the SEC (ASC 280). Amounts in dollars.

Amounts are in dollars as the company filed them in its annual reports (10-K or 20-F). Those reporting in another currency are converted at each fiscal year-end rate. Shares and earnings per share are adjusted for splits.

Debt and obligations

What the company owes beyond the loans on its balance sheet, and when it pays, from the notes to its annual report: debt maturities, leases, pension plans, goodwill by segment, and how it gets to the tax it pays.

$70M Leases17.1% Effective tax rate

Leases

Dec 31, 2025

Operating leases

$70M

Finance leases

–

The liability is the present value of the rent still to pay, at December 31, 2025. It is not counted in the ladder's debt. The filing

Goodwill by segment

Dec 31, 2025

Total goodwill

$83M

The company does not state its goodwill by segment, at December 31, 2025. The filing

From the statutory to the effective tax rate, 2025

Dec 31, 2025

Statutory rate

12.5%

Effective rate

17.1%

+4.6 pts

The company paid 17.1% in tax on its profit, 4.6 points above the statutory rate it starts from (12.5%). Below, the reasons it gives.

Statutory rate

12.5%

Tax credits

-2.4 pts

Difference the filing does not itemize

+7.0 pts

Effective rate

17.1%

One point is 1% of profit before tax. The lines are as the company states them in the notes to its annual report. The filing

Earnings quality

How the reported earnings were made, read from the filings. A description, not a score: our tests found no link between these measures and later share returns.

Where the change in earnings per share came from

Diluted earnings per share went from $2.17 in the fiscal year to Dec 31, 2024 to $1.43 in the year to Dec 31, 2025, a change of -$0.74.

Measured by size, 12.8% of the movement came from outside sales and operating margin: interest and other items, the tax rate, what went to others and the share count.

: -$0.09
: -$0.73
: +$0.07
: -$0.02
: +$0.02
: $0.00

Earnings per share is split as sales times operating margin, plus interest and other items, after tax, times the part that goes to the common shareholders, divided by the diluted share count. Each source's part is its average effect over every order in which the six can change, so the parts add up exactly to the change. From the annual reports; net income over the diluted count matches the earnings per share the company filed within 2%.

Receivables and inventory against sales

In the quarter to Sep 30, 2026, sales were +21.8% on the same quarter a year earlier, and receivables +29.5%. Inventory was +36.7%, against +82.6% for the cost of sales.

a year earlier 82 days: 87 days
a year earlier 337 days: 252 days

Balances at Sep 30, 2026 and Sep 30, 2025, against the sales and cost of sales of the quarter ending on each date; a fourth quarter is the fiscal year less its first nine months. Same quarter against same quarter, so the season is the same.

Taxes: deferred and paid

The deferred part was 57.8% of the tax charge in the year to Dec 31, 2025. The rows show the last 2 years.

Cash taxes paid were 24.9% of the current tax charge in the year to Dec 31, 2025.

Cash taxes paid against the current charge are lower than at nine in ten S&P 500 companies.

Deferred share, year to Dec 31, 2025$29M of $50M: 57.8%
Deferred share, year to Dec 31, 2024$41M of $72M: 56.6%
$5.2M paid, $21M current: 24.9%

When profit in the accounts runs ahead of taxable profit, the deferred part grows. It also moves for reasons unrelated to how earnings are booked: tax-law changes, the use of past losses, and the US rule since 2022 that spreads research costs over five years. Where the notes report it, the tax-rate bridge under Debt and obligations shows how the rate gets from the statutory one to the effective one.

The allowance for doubtful accounts is not shown: the company does not tag it in its structured filings.

A reading is called out when it is above the 90th percentile of the same reading across the S&P 500, or, for a fall, below the 10th, as measured on 9 November 2026. Each part uses only the company's own filings.

The full analysis

What do Alkermes's filings show?

These are Alkermes's figures from its filings. The full Ploutos AI analysis reads everything the company has filed and shows what stands behind it, with a source for every figure.

A fair value range built from the filings
Earnings quality, debt and red flags
Insider and institutional moves
The case for and the case against

Questions about ALKS's financials

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How much revenue did ALKS have in 2025?

Alkermes had revenue of $1.5B and net income of $242M in fiscal 2025, a net margin of 16.4%.

How much debt does ALKS have?

On December 31, 2025 Alkermes had total assets of $2.5B, debt of – and shareholders' equity of $1.8B.

How much free cash flow does ALKS have?

In fiscal 2025 Alkermes had cash from operations of $521M and spent $40M on capital expenditure, leaving $480M of free cash flow.

Where are the figures from?

From Alkermes plc's annual and quarterly reports to the SEC, read from the structured data (XBRL) it files itself.

The other pages on US stocks, free to read. On the company pages, the last three fiscal years are open to everyone, five with a free account, and every year with Ploutos Investor.

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The figures come from the company's SEC filings and the share price, and describe what it has reported. They are not a score or a fair value.