Royalty Pharma plc's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Royalty Pharma plc reported net income of $1.3B (-0.5% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Total income and other revenues | $2.4B | $2.3B | $2.4B | $2.2B |
| Provision for changes in expected cash flows from financial royalty assets | ($295.8M) | $732.5M | $560.7M | $904.2M |
| Provision for credit losses on unfunded commitments | $89.0M | — | — | — |
| Research and development funding expense | $452.0M | $2.0M | $52.0M | $177.1M |
| General and administrative expenses (includes $290,890, $3,224, and $3,302 of share-based compensation expense for the years ended December 31, 2025, 2024 and 2023, respectively; see Note 4) | $573.5M | $236.7M | $249.7M | $227.3M |
| Total operating expense, net | $818.7M | $971.1M | $862.4M | $1.9B |
| Operating income | $1.6B | $1.3B | $1.5B | $307.1M |
| Equity in earnings of equity method investees | ($29.1M) | ($29.6M) | ($28.9M) | $9.0M |
| Interest expense | $307.7M | $225.5M | $187.2M | $188.0M |
| Losses on derivative financial instruments | $0 | $6.0M | $2.3M | ($96.6M) |
| Losses/(gains) on equity securities | $21.9M | ($39.5M) | ($87.1M) | $33.4M |
| Gains on available for sale debt securities | ($45.9M) | ($154.9M) | ($230.8M) | $6.8M |
| Interest income | ($33.6M) | ($47.3M) | ($72.3M) | ($78.3M) |
| Other non-operating expenses, net | $14.3M | $1.5M | $21.7M | $14.8M |
| Total other expense/(income), net | $235.3M | ($38.4M) | ($207.9M) | $77.0M |
| Consolidated net income before tax | $1.3B | $1.3B | $1.7B | $230.1M |
| Income tax expense | $0 | $0 | $0 | $0 |
| Consolidated net income | $1.3B | $1.3B | $1.7B | $230.1M |
| Net income attributable to non-controlling interests | $553.2M | $471.8M | $565.3M | $187.2M |
| Net income attributable to Royalty Pharma plc | $770.9M | $859.0M | $1.1B | $42.8M |
| Basic (in dollars per share) | $1.79 | $1.92 | $2.54 | $0.10 |
| Diluted (in dollars per share) | $1.78 | $1.91 | $2.53 | $0.10 |
| Basic (in shares) | 429.8M | 448.2M | 447.6M | 438.0M |
| Diluted (in shares) | 564.5M | 594.1M | 602.9M | 438.0M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Total income and other revenues | $674.1M | $630.6M | $609.3M | $578.7M |
| Provision for changes in expected cash flows from financial royalty assets | $268.2M | ($197.5M) | $12.1M | ($203.9M) |
| Provision for credit losses on unfunded commitments | $13.1M | ($3.7M) | $766.0K | $92.5M |
| Research and development funding expense | $97.9M | $39.8M | $50.5M | $300.5M |
| General and administrative expenses (includes $107,356 and $91,044 of share-based compensation expense for the three months ended June 30, 2026 and 2025, respectively, and $229,648 and $91,747 for the six months ended June 30, 2026 and 2025, respectively; see Note 4) | $161.9M | $159.5M | $118.7M | $179.8M |
| Financial royalty asset impairment | $0 | $69.4M | — | — |
| Total operating expense, net | $541.0M | $67.5M | $182.1M | $368.9M |
| Operating income | $133.1M | $563.0M | $427.2M | $209.8M |
| Equity in earnings of equity method investees | ($4.1M) | ($21.8M) | ($15.9M) | ($2.7M) |
| Interest expense | $93.6M | $93.7M | $79.6M | $68.7M |
| (Gains)/losses on equity securities | ($69.2M) | $20.2M | ($18.9M) | $30.6M |
| Losses on available for sale debt securities | $34.9M | $6.7M | ($52.5M) | $27.4M |
| Interest income | ($5.1M) | ($6.2M) | ($6.9M) | ($8.3M) |
| Other non-operating expenses, net | $1.5M | $2.2M | $1.6M | $1.5M |
| Total other expense, net | $51.6M | $94.8M | ($17.1M) | $119.2M |
| Consolidated net income before tax | $81.5M | $468.3M | $444.2M | $90.6M |
| Income tax expense | $0 | $0 | $0 | $0 |
| Consolidated net income | $81.5M | $468.3M | $444.2M | $90.6M |
| Net income attributable to non-controlling interests | $63.6M | $173.6M | $156.0M | $60.5M |
| Net income attributable to Royalty Pharma plc | $17.9M | $294.7M | $288.2M | $30.2M |
| Basic (in dollars per share) | $0.04 | $0.67 | $0.67 | $0.07 |
| Diluted (in dollars per share) | $0.04 | $0.67 | $0.67 | $0.07 |
| Basic (in shares) | 445.1M | 436.8M | 431.9M | 423.5M |
| Diluted (in shares) | 556.9M | 556.8M | 559.6M | 562.3M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash and cash equivalents | $618.7M | $929.0M | $477.0M | $1.7B |
| Financial royalty assets | $854.4M | $783.8M | $738.4M | $691.3M |
| Available for sale debt securities | $18.8M | $58.2M | $18.3M | $1.3M |
| Other royalty income receivable | $29.3M | $27.0M | $22.4M | $19.8M |
| Other current assets | $6.9M | $4.2M | $3.8M | $90.5M |
| Total current assets | $1.5B | $1.8B | $1.3B | $2.6B |
| Financial royalty assets, net | $16.2B | $15.1B | $14.1B | $13.5B |
| Equity securities | $171.3M | $187.0M | $199.5M | $112.3M |
| Available for sale debt securities | $419.0M | $693.5M | $437.1M | $226.3M |
| Equity method investments | $290.0M | $379.4M | $375.9M | $397.2M |
| Goodwill | $924.6M | — | — | — |
| Other assets | $79.3M | $33.5M | $6.5M | $29.6M |
| Total assets | $19.6B | $18.2B | $16.4B | $16.8B |
| Distributions payable to legacy non-controlling interests | $72.8M | $75.8M | $83.2M | $94.8M |
| Accounts payable and accrued expenses | $19.4M | $13.4M | $15.2M | $7.9M |
| Interest payable | $110.8M | $98.1M | $51.7M | $54.2M |
| Current portion of long-term debt | $380.0M | $997.8M | $0 | $997.5M |
| Other current liabilities | $53.2M | $68.6M | $11.4M | $12.4M |
| Total current liabilities | $636.2M | $1.3B | $161.4M | $1.2B |
| Long-term debt | $8.6B | $6.6B | $6.1B | $6.1B |
| Accrued compensation liabilities | $577.9M | — | — | — |
| Other liabilities | $120.8M | $12.1M | $900.0K | $2.5M |
| Total liabilities | $9.9B | $7.9B | $6.3B | $7.3B |
| Common stock | $106.0K | $108.0K | $108.0K | $107.0K |
| Deferred shares, $0.000001 par value; issued and outstanding: 2025–411,475 and 2024–392,255 | 0 | 0 | 0 | 0 |
| Additional paid-in capital | $4.1B | $4.1B | $4.0B | $3.7B |
| Retained earnings | $2.4B | $2.8B | $2.5B | $2.0B |
| Non-controlling interests | $3.2B | $3.4B | $3.6B | $3.9B |
| Treasury interests | ($2.6M) | ($2.7M) | ($2.6M) | ($2.8M) |
| Total shareholders’ equity | $9.7B | $10.3B | $10.1B | $9.5B |
| Total liabilities and shareholders’ equity | $19.6B | $18.2B | $16.4B | $16.8B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Cash and cash equivalents | $812.0M | $586.4M | $938.9M | $631.9M |
| Financial royalty assets | $889.5M | $779.8M | $860.1M | $842.9M |
| Available for sale debt securities | $25.0M | $21.9M | $16.1M | $13.2M |
| Other royalty income receivable | $31.5M | $27.5M | $28.9M | $27.7M |
| Other current assets | $6.7M | $10.2M | $5.5M | $4.5M |
| Total current assets | $1.8B | $1.4B | $1.8B | $1.5B |
| Financial royalty assets, net | $16.2B | $16.5B | $15.8B | $15.1B |
| Equity securities | $241.9M | $173.3M | $129.4M | $110.5M |
| Available for sale debt securities | $372.1M | $406.8M | $302.5M | $271.9M |
| Equity method investments | $262.0M | $265.7M | $291.0M | $275.9M |
| Goodwill | $923.5M | $924.6M | $924.6M | $924.6M |
| Other assets | $63.0M | $76.8M | $86.6M | $85.5M |
| Total assets | $19.8B | $19.8B | $19.3B | $18.3B |
| Distributions payable to non-controlling interests | $91.3M | $87.4M | $77.2M | $98.2M |
| Accounts payable and accrued liabilities | $35.6M | $25.5M | $41.4M | $20.2M |
| Interest payable | $107.8M | $25.3M | $29.0M | $85.6M |
| Current portion of long-term debt | $380.0M | $380.0M | $380.0M | $999.4M |
| Other current liabilities | $16.3M | $17.5M | $3.1M | $3.1M |
| Total current liabilities | $630.9M | $535.7M | $530.8M | $1.2B |
| Long-term debt | $8.6B | $8.6B | $8.6B | $7.0B |
| Accrued compensation liabilities | $713.2M | $648.7M | $502.9M | $467.1M |
| Other liabilities | $108.0M | $117.8M | $126.9M | $143.3M |
| Total liabilities | $10.0B | $9.9B | $9.7B | $8.8B |
| Common stock | $108.0K | $108.0K | $107.0K | $107.0K |
| Deferred shares, $0.000001 par value; issued and outstanding: 2026–430,189 and 2025–411,475 | 0 | 0 | 0 | 0 |
| Additional paid-in capital | $4.4B | $4.4B | $4.1B | $4.1B |
| Retained earnings | $2.5B | $2.5B | $2.3B | $2.2B |
| Non-controlling interests | $3.0B | $3.0B | $3.2B | $3.2B |
| Treasury interests | ($2.7M) | ($2.7M) | ($2.6M) | ($2.6M) |
| Total shareholders’ equity | $9.8B | $9.9B | $9.6B | $9.5B |
| Total liabilities and shareholders’ equity | $19.8B | $19.8B | $19.3B | $18.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Cash collections from financial royalty assets | $3.4B | $3.0B | $3.2B | $2.5B |
| Cash collections from intangible royalty assets | $720.0K | $14.6M | $1.3M | $72.9M |
| Other royalty cash collections | $114.0M | $108.8M | $158.8M | $69.9M |
| Distributions from equity method investees | $13.4M | $13.4M | $18.8M | $39.1M |
| Interest received | $34.3M | $46.5M | $71.6M | $25.0M |
| Development-stage funding payments | ($452.0M) | — | — | — |
| Payments for operating and professional costs | ($288.1M) | ($236.2M) | ($243.0M) | ($223.0M) |
| Payments for Employee EPAs | ($10.9M) | — | — | — |
| Interest paid | ($276.3M) | ($159.6M) | ($169.2M) | ($170.1M) |
| Net cash provided by operating activities | $2.5B | $2.8B | $3.0B | $2.1B |
| Acquisition of businesses, net of cash acquired | ($74.4M) | — | — | — |
| Distributions from equity method investees | $105.1M | $23.6M | $43.9M | $0 |
| Investments in equity method investees | $0 | ($11.0M) | ($12.5M) | ($9.9M) |
| Purchases of equity securities | ($58.4M) | ($62.5M) | $0 | ($87.8M) |
| Proceeds from equity securities | $34.7M | $98.6M | $0 | $211.2M |
| Purchases of available for sale debt securities | ($175.0M) | ($150.0M) | $0 | ($479.6M) |
| Proceeds from available for sale debt securities | $21.2M | $19.8M | $1.4M | $542.0M |
| Proceeds from sales of available for sale debt securities | $510.6M | — | — | — |
| Proceeds from sales and maturities of marketable securities | $0 | $0 | $24.4M | $792.3M |
| Acquisitions of financial royalty assets | ($1.7B) | ($2.5B) | ($2.1B) | ($1.7B) |
| Acquisitions of other financial assets | $0 | ($18.0M) | $0 | ($21.2M) |
| Milestone payments | ($271.3M) | ($75.0M) | ($12.4M) | $0 |
| Other | ($8.9M) | $2.0M | ($2.0M) | — |
| Net cash used in investing activities | ($1.6B) | ($2.7B) | ($2.1B) | ($1.0B) |
| Distributions to legacy non-controlling interests - Portfolio Receipts | ($354.9M) | ($362.3M) | ($377.0M) | — |
| Distributions to continuing non-controlling interests | ($167.5M) | ($125.2M) | ($119.5M) | ($144.1M) |
| Dividends to shareholders | ($378.3M) | ($376.5M) | ($358.3M) | ($333.3M) |
| Repurchases of Class A ordinary shares | -1.2B | -229.7M | -304.8M | — |
| Contributions from legacy non-controlling interests - R&D | $220.0K | $747.0K | $543.0K | $1.1M |
| Contributions from non-controlling interests - other | $5.7M | $4.4M | $6.9M | $6.1M |
| Cash acquired in connection with purchase of non-controlling interest | $0 | $0 | $5.0M | — |
| Proceeds from revolving credit facility | $1.3B | $0 | $350.0M | — |
| Repayment of revolving credit facility | ($1.3B) | $0 | ($350.0M) | — |
| Repayment of long-term debt | ($1.0B) | $0 | ($1.0B) | — |
| Proceeds from issuance of long-term debt, net of discount | $2.0B | $1.5B | $0 | $0 |
| Debt issuance costs and other | ($16.6M) | ($12.6M) | ($1.6M) | ($1.3M) |
| Other | ($1.8M) | ($9.0M) | — | — |
| Net cash (used in)/provided by financing activities | ($1.2B) | $361.1M | ($2.1B) | ($944.9M) |
| Net change in cash and cash equivalents | ($310.3M) | $452.0M | ($1.2B) | $169.7M |
| Cash and cash equivalents, beginning of period | $929.0M | $477.0M | $1.7B | $1.5B |
| Cash and cash equivalents, end of period | $618.7M | $929.0M | $477.0M | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Cash collections from financial royalty assets | $1.7B | $915.6M | $2.4B | $1.6B |
| Cash collections from intangible royalty assets | $3.8M | $3.8M | $681.0K | $417.0K |
| Other royalty cash collections | $65.7M | $33.6M | $84.9M | $55.8M |
| Distributions from equity method investees | $24.7M | $3.7M | $13.4M | $13.4M |
| Interest received | $11.5M | $6.5M | $27.9M | $20.7M |
| Development-stage funding payments | ($123.4M) | ($25.5M) | ($401.5M) | ($351.0M) |
| Payments for operating and professional costs | ($73.0M) | ($36.3M) | ($229.9M) | ($195.7M) |
| Payments for Employee EPAs | ($14.2M) | ($9.7M) | ($1.9M) | ($173.0K) |
| Interest paid | ($178.9M) | ($173.5M) | ($269.6M) | ($139.6M) |
| Net cash provided by operating activities | $1.4B | $718.2M | $1.7B | $960.1M |
| Acquisition of businesses, net of cash acquired | $0 | — | ($74.4M) | ($74.2M) |
| Distributions from equity method investees | $29.1M | $42.3M | $100.2M | $99.3M |
| Purchases of equity securities | ($27.5M) | ($22.5M) | ($4.4M) | ($4.4M) |
| Proceeds from equity securities | $35.9M | $375.0K | $0 | $0 |
| Purchases of available for sale debt securities | $0 | — | ($75.0M) | ($75.0M) |
| Proceeds from available for sale debt securities | $8.6M | $4.3M | $18.3M | $15.5M |
| Proceeds from sales of available for sale debt securities | $0 | $0 | $510.6M | $510.6M |
| Acquisitions of financial royalty assets | ($703.4M) | ($452.4M) | ($964.0M) | ($2.2M) |
| Milestone payments | ($50.0M) | ($50.0M) | ($268.6M) | ($268.6M) |
| Other | ($317.0K) | — | ($8.9M) | ($8.9M) |
| Net cash (used in)/provided by investing activities | ($707.6M) | ($477.9M) | ($766.4M) | $191.9M |
| Distributions to legacy non-controlling interests - Portfolio Receipts | ($164.1M) | ($78.0M) | ($275.8M) | ($173.8M) |
| Distributions to continuing non-controlling interests | ($74.5M) | ($39.9M) | ($126.7M) | ($92.4M) |
| Dividends to shareholders | ($209.4M) | ($104.5M) | ($283.9M) | ($188.6M) |
| Repurchases of Class A ordinary shares | -94.7M | -50.1M | -1.1B | -1.0B |
| Contributions from legacy non-controlling interests - R&D | $0 | $0 | $220.0K | $439.0K |
| Contributions from non-controlling interests - other | $0 | $0 | $5.7M | $5.7M |
| Debt issuance costs and other | ($2.5M) | — | ($13.5M) | $0 |
| Other | ($615.0K) | ($226.0K) | $0 | $0 |
| Net cash used in financing activities | ($545.8M) | ($272.7M) | ($886.4M) | ($1.4B) |
| Net change in cash and cash equivalents | $193.3M | ($32.3M) | $9.9M | ($297.1M) |
| Cash and cash equivalents, beginning of period | $618.7M | $618.7M | $929.0M | $929.0M |
| Cash and cash equivalents, end of period | $812.0M | $586.4M | $938.9M | $631.9M |
Royalty Pharma plc score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.