Alkermes plc

Rank #232Decline

ALKS · Nasdaq · Healthcare

Alkermes plc (ALKS) — Rank #232 by gross profitability (GP/assets 0.29) · ROE 13.4% · Piotroski F-Score N/A.

As-of 2026-09-15 · CIK 0001520262 · all metrics point-in-time as of the filing date.

About

Alkermes plc, a biopharmaceutical company, engages in the research, development, and commercialization of pharmaceutical products to address unmet medical needs of patients in therapeutic areas in the United States, Ireland, and internationally.

The company has a portfolio of proprietary commercial products for the treatment of opioid dependence, alcohol dependence, schizophrenia, bipolar I, and a pipeline of clinical and preclinical product candidates in development for neurological disorders. Its marketed products include ARISTADA, an intramuscular injectable suspension for the treatment of schizophrenia; ARISTADA INITIO for the treatment of schizophrenia in adults; VIVITROL for the treatment of alcohol and prevention of opioid dependence; LYBALVI, an oral atypical antipsychotic drug candidate for the treatment of adults with schizophrenia and bipolar I disorder; and LUMRYZ, an extended-release oral suspension product for the treatment of cataplexy or EDS in pediatric patients. The company also offers proprietary technology platforms to third parties to enable them to develop, commercialize, and manufacture products. It has collaboration agreements primarily with Janssen Pharmaceutica N.V., Janssen Pharmaceutica Inc, and Janssen Pharmaceutica International.

Alkermes plc was founded in 1987 and is headquartered in Dublin, Ireland.

Industry: Drug Manufacturers - Specialty & Generic
Sector: Healthcare
Filer Category: Large accelerated filer
Fiscal Year End: December 31
Website: alkermes.com

Price History

ALKS+54.0% · +9.0% CAGRSPY+80.5% · +12.5% CAGR

Company Snapshot

P/E, P/B, and dividend yield matter most — book value provides a floor.

Market Cap

$7.51B

P/E (annual)

31.3

P/S (annual)

5.1

P/B

4.2

P/OCF (annual)

14.4

Shareholder Yield

0.3%

Employees

2,050

Industry

Drug Manufacturers - Specialty & Generic

Exchange

Nasdaq

Signal Flags

1 green2 red

Revenue growth acceleratingGrowth rate increasing year over year

Revenue declining YoYRevenue contracted year over year

Operating margin decliningOperating margin lower than prior year

Quality Profile

Profitability

1/1 pass

GP / assets

0.29

Return on equity

13.4%

Gross margin trend

PASS

Safety

1/1 pass

Balance-sheet safety

PASS

Debt / equity

1.43

Current ratio

2.30×

Net cash

-$811.48M

Cash Flow

3/3 pass

Positive FCF

PASS

Cash-backed earnings

PASS

Accruals healthy

PASS

SBC / revenue

6.7%

Growth

1/2 pass

Revenue growth

-5.2%

Piotroski F-Score

N/A

Share dilution

-0.3%

Terry Smith quality gate

Passes 2/5 Terry Smith thresholds

1 of 5 threshold not computable from filed data.

What Growth Is Priced In

Implied revenue growth (10Y)

4.4%

incredible deal

The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).

Buyback tailwind: -0.3% — per-share value needs a total required return of 4.2% once share-count change is priced in.

vs. own 6-year median revenue growth: -5.3%

Cost-of-equity sensitivity (implied growth at different discount rates)

r = 8%

0.3%

r = 10% (base)

4.4%

r = 12%

8.0%

Net debt / market cap: 10.7%

Note: current FCF margin is 1.9σ above its historical mean — implied growth may understate valuation risk if the margin reverts.

Base FCF: $480.3M3Y mean FCF: $413.1M

Valuation History

Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.

P / E

Price / diluted EPS

21.7xExpensive

13.9xmed 15.4x21.7x

P / S

Price / revenue per share

3.5xFair

2.4xmed 3.7x6.7x

P / B

Price / book value per share

2.9xCheap

2.6xmed 4.0x4.4x

P / GP

Price / gross profit per share

4.1xFair

2.8xmed 4.4x8.1x

P / FCF

Price / free cash flow per share

10.9xCheap

10.9xmed 36.4x169.8x

Earnings bubble check

Current margins may be above sustainable levels — a P/E based on peak earnings can overstate cheapness.

Gross margin86.7% now vs 80.4%–86.7% 10yr range

1.8σ above average

FCF margin32.5% now vs -1.6%–32.5% 10yr range

1.9σ above average

Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.

Profitability

Gross profitability (GP / assets)

0.29

Primary signal (Novy-Marx).

6th of 9 SIC 2834 peers

Return on equity

13.4%

Gross margin

86.7%

3rd of 9 SIC 2834 peers

Revenue growth (YoY)

-5.2%

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

	2022	2023	2024	2025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

9.9%

Revenue CAGR (5Y)

7.3%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Anti-fragile safety

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

1.43

9th of 9 SIC 2834 peers (best = lowest)

Current ratio

2.30×

6th of 9 SIC 2834 peers

Quick ratio

1.68×

Net cash

-$811.48M

Cash & equivalents minus total debt.

Cash-flow health

Free cash flow

$480.33M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF / net income

0.99

Cash-backing of earnings.

FCF/NI divergence

Unfavorable divergence (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

6.7%

Stock-based comp intensity.

Piotroski F-Score

F-Score

N/A

Only 8/9 components determinable.

Lifecycle Phase History

2020

2021

2022

2023

2024

2025

20202025

Decline

Startup

Hypergrowth

Value

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