JAZZ
Jazz Pharmaceuticals plc
JAZZ's fundamentals are strong, but it looks expensive: trading at 78x earnings, about four times its usual 20x. Its downside scenario is more than ten times its upside.
JAZZ Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Under pressure |
JAZZ's revenue, profitability and cash flow are currently healthy, but its balance sheet is under pressure.
JAZZ PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 9.2x | $240 | — |
| Cheap | 15x | $45.24 | -81% |
| Fair | 20x | $62.02 | -74% |
| Current | 78x | $240 | — |
| Expensive | 140x | $430 | +79% |
Historical ranges are pointers, not guarantees.
JAZZ's PE is in its expensive range at 78x. If earnings grow as analysts expect, today's price would be 9.2x next year's earnings, in its cheap range.
JAZZ Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Growth | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for JAZZ, with profitability improving. However, they disagree widely on these estimates.
JAZZ Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $26.22 | +754% |
| Q3 2026 | $3.07 | +$9.28 |
| Q2 2026 | $14.63 | +$21.50 |
| Q1 2026 | $0.11 | -99% |
| Q4 2025 | -$5.84 | -168% |
| Q3 2025 | -$6.21 | -188% |
| Q2 2025 | -$6.87 | -218% |
| Q1 2025 | $7.36 | +52% |
| Q4 2024 | $8.65 | +42% |
JAZZ has returned to profit: it earned $3.07 per share over the past year, after losing money the year before.
JAZZ Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $1.2B | +10% |
| Q2 2026 | $1.2B | +16% |
| Q1 2026 | $1.1B | +19% |
| Q4 2025 | $1.2B | +10% |
| Q3 2025 | $1.1B | +6.7% |
| Q2 2025 | $1B | +2.1% |
| Q1 2025 | $897.8M | -0.5% |
| Q4 2024 | $1.1B | +7.5% |
JAZZ's revenue has grown year over year for six quarters in a row: $1.2B last quarter, up 10% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -33% | -38 points |
| Q2 2026 | 21% | +86 points |
| Q1 2026 | 31% | +38 points |
| Q4 2025 | 21% | +3.7 points |
| Q3 2025 | 5.1% | -20 points |
| Q2 2025 | -66% | -85 points |
| Q1 2025 | -6.2% | -14 points |
| Q4 2024 | 18% | +5.4 points |
JAZZ's operating margin was −33% last quarter, down 38 points from the same quarter a year ago, near the bottom of its range since 2019.
JAZZ Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $489.9M | +6.6% |
| Q2 2026 | $397.6M | +424% |
| Q1 2026 | $388.5M | -6.6% |
| Q4 2025 | $345.8M | -10% |
| Q3 2025 | $459.4M | +18% |
| Q2 2025 | $75.9M | -77% |
| Q1 2025 | $415.9M | +60% |
| Q4 2024 | $385.3M | +145% |
JAZZ's free cash flow has been positive every quarter for seven years: $1.6B over the past year, up 21% from the year before.
JAZZ Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -6.8% | -4.7M shares |
| 1 year | +5% | +3.1M shares |
| 3 years | -9.2% | -6.6M shares |
| 5 years | +5.6% | +3.4M shares |
| Available history | +12% | +7.2M shares |
JAZZ has 65M diluted shares, up 5% from a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $225M |
| Q4 2025 | — |
| Q3 2025 | — |
| Q4 2024 | — |
| Q3 2024 | $150M |
| Q4 2023 | $99.8M |
| Q3 2023 | $74.4M |
| Q4 2022 | — |
JAZZ Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.1x | Elevated |
| Q2 2026 | 1.7x | Healthy |
| Q1 2026 | 5.2x | High |
| Q4 2025 | 14.9x | High |
| Q3 2025 | 21.1x | High |
| Q2 2025 | 11.0x | High |
| Q1 2025 | 2.8x | Moderate |
| Q4 2024 | 2.7x | Moderate |
JAZZ's net debt is about 3.1 years of its operating earnings (EBITDA), down from more than 20 years a year ago.
JAZZ Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.6 | Neutral |
| Stochastic | 43.8 | Neutral |
JAZZ's weekly RSI is 58 (neutral) and its Stochastic is 44 (neutral).
JAZZ PE vs Healthcare Sector
| Metric | JAZZ | Sector median | Relative |
|---|---|---|---|
| PE | 78x | 26x | 203% above |
| PE % | 81 | 29 | 52 pts above |
JAZZ is trading at 78x earnings, a 203% premium to the Healthcare sector's median of 26x.
JAZZ Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $225.9 | 6.4% above |
| 20 week MA | $239.1 | 0.5% above |
| 50 week MA | $211.0 | 14% above |
| 100 week MA | $167.5 | 43% above |
| 200 week MA | $146.0 | 65% above |
JAZZ is in an uptrend: it's above all five of its weekly moving averages, and 65% above its 200-week average.
JAZZ Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $150.9 | $157.3 | +4.2% |
| 2021 | $157.3 | $128.2 | -18% |
| 2022 | $128.2 | $157.2 | +23% |
| 2023 | $157.2 | $123.0 | -22% |
| 2024 | $123.0 | $124.6 | +1.3% |
| 2025 | $124.6 | $170.5 | +37% |
| 2026 YTD | $170.5 | $240.4 | +41% |
JAZZ has finished higher in four of the last six years. It's up 41% so far in 2026.