PUMA BIOTECHNOLOGY, INC.
PBYI· Nasdaq· Pharmaceutical Preparations
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- 18.3%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +0.3%
We record prices for the companies we cover; PBYI is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 50.7M
- Revenue
- $228.4M
- Free cash flow
- $41.7M
- Owner earnings
- $34.8M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- –
- Operating
- 16.3%
- Net
- 13.6%
- Free cash flow
- 18.3%
- Owner earnings
- 15.2%
- Stock pay
- 3.0%
Returns
- ROIC, FY2025
- 58.6%
- ROIC, 5 yr avg
- –
- ROE, FY2025
- 23.9%
- ROE, 5 yr avg
- –
Growth (CAGR)
- Revenue, 3 yr
- 0.0%
- Revenue, 5 yr
- 0.3%
- Revenue, 9 yr
- –
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- 124.8%
- Free cash flow, 9 yr
- –
Financial health · FY2025
- Cash and investments
- $97.5M
- Total debt
- $22.5M
- Net cash
- $75.0M
- Debt/Equity
- 0.2x
- Debt/FCF
- 0.5x
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 5.1%
Financials: ten years from the 10-Ks
Revenue
$228.4M
+30.2% a year over 9 years
FY2016FY2025
Margins
Operating16.3%Net13.6%
FY2025
FY2016FY2025
Free cash flow and owner earnings
Free cash flow$41.7MOwner earnings$34.8M
FY2025
FY2016FY2025
Diluted shares
50.7M
+28.0% over 9 years, net dilution
FY2016FY2025
Return on invested capital
58.6%
FY2025
FY2016FY2025
Net cash
$75.0M
$75.0M more cash than debt
FY2016FY2025
Every figure, year by year
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | – | $27.7M | $251.0M | $272.3M | $225.1M | $253.2M | $228.0M | $235.6M | $230.5M | $228.4M |
| Revenue growth | – | – | 806.6% | 8.5% | -17.3% | 12.5% | -9.9% | 3.3% | -2.2% | -0.9% |
| Gross margin | – | – | – | – | – | – | – | – | – | – |
| Operating margin | – | -1056.1% | -37.7% | -14.3% | -13.5% | 0.5% | 10.4% | 13.9% | 13.4% | 16.3% |
| Net income | -$276.0M | -$292.0M | -$113.6M | -$75.6M | -$60.0M | -$29.1M | $2.0K | $21.6M | $30.3M | $31.1M |
| Net margin | – | -1054.6% | -45.3% | -27.8% | -26.7% | -11.5% | 0.0% | 9.2% | 13.1% | 13.6% |
| Diluted EPS | – | – | – | – | $-1.52 | $-0.72 | $0.00 | $0.45 | $0.62 | $0.61 |
| Return on invested capital? | – | – | – | – | – | – | 0.3% | 54.4% | – | 58.6% |
| Cash | ||||||||||
| Operating cash flow | -$141.7M | -$172.5M | -$24.1M | $22.4M | $773.0K | $20.6M | -$15.8M | $27.0M | $38.9M | $41.8M |
| Capital expenditure | $4.3M | $431.0K | $439.0K | $306.0K | $46.0K | $0 | $0 | $140.0K | $56.0K | $71.0K |
| Free cash flow | -$146.0M | -$172.9M | -$24.5M | $22.1M | $727.0K | $20.6M | -$15.8M | $26.9M | $38.9M | $41.7M |
| Stock-based compensation | $117.3M | $108.7M | $86.9M | $57.3M | $36.6M | $32.6M | $11.8M | $10.2M | $8.2M | $6.9M |
| Owner earnings? | -$263.2M | -$281.6M | -$111.5M | -$35.3M | -$35.8M | -$12.0M | -$27.7M | $16.6M | $30.6M | $34.8M |
| Free cash flow per share | – | – | – | – | $0.02 | $0.51 | $-0.35 | $0.57 | $0.79 | $0.82 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – | – | – | – | – |
| Diluted shares | – | – | – | – | 39.6M | 40.6M | 44.9M | 47.6M | 49.1M | 50.7M |
| Share count change? | – | – | – | – | – | 2.7% | 10.6% | 5.8% | 3.3% | 3.2% |
| Balance sheet | ||||||||||
| Cash and equivalents | $194.5M | $81.7M | $108.4M | $60.0M | $85.3M | $63.1M | $76.2M | $84.6M | $69.2M | $29.6M |
| Short-term investments | $35.0M | – | $57.0M | $51.6M | $8.1M | $19.0M | $4.9M | $11.4M | $31.7M | $67.9M |
| Total debt | – | $48.5M | $151.9M | $95.0M | $98.3M | $97.1M | $98.3M | $99.7M | $67.0M | $22.5M |
| Net debt | – | -$33.2M | -$13.5M | -$16.7M | $4.9M | $15.0M | $17.2M | $3.7M | -$33.9M | -$75.0M |
| Shareholders' equity | $209.8M | $53.3M | $34.3M | $17.5M | -$6.0M | -$2.4M | $21.6M | $53.4M | $92.1M | $130.3M |
Latest filings
| 2026-08-06 | 10-Q | Quarterly report |
| 2026-08-06 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Earnings release |
| 2026-04-28 | DEF 14A | Proxy statement |
| 2026-02-26 | 10-K | Annual report |
| 2026-02-26 | 8-K | Earnings release |
| 2025-11-06 | 10-Q | Quarterly report |
| 2025-11-06 | 8-K | Earnings release |
| 2025-08-07 | 10-Q | Quarterly report |
More from our coverage
- MSFTPlatforms8.4MicrosoftThe most entrenched software franchise in the enterprise, now spending its cash flow on AI capacity; a great business we would own with a margin of safety, not at any price.Base value $410.29
- NVDAAI infrastructure8.4NVIDIAThe best business in technology at the top of its cycle: the moat is CUDA as much as silicon, but today's margins are a peak, not a floor.Base value $104.32
- AAPLHardware7.6AppleOne of the highest-quality businesses in the world growing in the low single digits; the price usually assumes more growth than the numbers show.Base value $134.27
- GOOGLPlatforms7.4AlphabetSearch pays for everything, and AI is both its biggest threat and its biggest opportunity; the price has to allow for search being worth less than it was.Base value $209.60
- NOWSoftware7.4ServiceNowA rare enterprise platform still growing above 20% with high retention; the free cash flow is real but stock pay takes a large share of it.Base value $189.13
- ADBESoftware7.4AdobeSuperb margins and a shrinking share count, priced for decline; the question is whether AI makes Adobe's tools more valuable or makes them unnecessary.Base value $449.35
