RPRX
Royalty Pharma plc
RPRX's fundamentals are mixed, but it looks expensive: trading at 45x earnings, about twice its usual 23x. Its downside scenario is about seven times its upside.
RPRX Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Strong | |
| Weak |
RPRX's revenue, profitability and cash flow are currently healthy, but its balance sheet is weak.
RPRX PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 12x | $68.97 | — |
| Cheap | 15x | $22.76 | -67% |
| Fair | 23x | $34.85 | -49% |
| Expensive | 44x | $66.74 | -3.2% |
| Current | 45x | $68.97 | — |
Historical ranges are pointers, not guarantees.
RPRX's PE is in its expensive range at 45x. If earnings grow as analysts expect, today's price would be 12x next year's earnings, in its cheap range.
RPRX Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Stable | |
| -- | |
| Limited | |
| High |
Analysts expect RPRX's earnings to grow, with its revenue and profitability holding steady.
RPRX Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $5.95 | +292% |
| Q3 2026 | $1.52 | -13% |
| Q2 2026 | $1.87 | -18% |
| Q1 2026 | $1.90 | -22% |
| Q4 2025 | $1.78 | -6.8% |
| Q3 2025 | $1.75 | -32% |
| Q2 2025 | $2.29 | +52% |
| Q1 2025 | $2.45 | +38% |
| Q4 2024 | $1.91 | -25% |
RPRX's earnings per share have fallen from their peak: $1.52 over the past year, against $3.36 in late 2019.
RPRX Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $690.1M | +13% |
| Q2 2026 | $674.1M | +16% |
| Q1 2026 | $630.6M | +11% |
| Q4 2025 | $622M | +4.8% |
| Q3 2025 | $609.3M | +7.9% |
| Q2 2025 | $578.7M | +7.7% |
| Q1 2025 | $568.2M | 0% |
| Q4 2024 | $593.6M | -0.4% |
RPRX's revenue has grown year over year for seven quarters in a row: $690M last quarter, up 13% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 60% | -11 points |
| Q2 2026 | 20% | -17 points |
| Q1 2026 | 89% | -4.7 points |
| Q4 2025 | 62% | +1.5 points |
| Q3 2025 | 70% | -60 points |
| Q2 2025 | 36% | -14 points |
| Q1 2025 | 94% | +107 points |
| Q4 2024 | 61% | -42 points |
RPRX's operating margin was 60% last quarter, down 11 points from the same quarter a year ago.
RPRX Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $686.1M | -2.4% |
| Q2 2026 | $728.5M | +100% |
| Q1 2026 | $718.2M | +20% |
| Q4 2025 | $827.1M | +11% |
| Q3 2025 | $702.6M | -0.1% |
| Q2 2025 | $364M | -45% |
| Q1 2025 | $596.1M | -10% |
| Q4 2024 | $742.5M | -3.9% |
RPRX's free cash flow has been positive every quarter for six years: $3B over the past year, up 23% from the year before.
RPRX Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | 0% | +105K shares |
| 1 year | -0.5% | -2.6M shares |
| 3 years | -7.3% | -44.1M shares |
| 5 years | -8.3% | -50.1M shares |
| Available history | +58% | +205M shares |
RPRX has 557M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $86.3M |
| Q2 2026 | $44.6M |
| Q1 2026 | $50.1M |
| Q4 2025 | $80.5M |
| Q3 2025 | $146.5M |
| Q2 2025 | $291.6M |
| Q1 2025 | $708.8M |
| Q4 2024 | $52.6M |
RPRX spent $262M buying back its own shares over the past year, down 78% from the year before.
RPRX Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 5.4x | High |
| Q2 2026 | 5.4x | High |
| Q1 2020 | 2.2x | Moderate |
| Q4 2019 | 2.2x | Moderate |
RPRX's net debt is about 5.4 years of its operating earnings (EBITDA).
RPRX Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 74.0 | Overbought |
| Stochastic | 89.9 | Overbought |
RPRX's weekly RSI is 74 (overbought) and its Stochastic is 90 (overbought).
RPRX PE vs Healthcare Sector
| Metric | RPRX | Sector median | Relative |
|---|---|---|---|
| PE | 45x | 26x | 76% above |
| PE % | 84 | 31 | 53 pts above |
RPRX is trading at 45x earnings, a 76% premium to the Healthcare sector's median of 26x.
RPRX Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $62.6 | 10% above |
| 20 week MA | $60.4 | 14% above |
| 50 week MA | $52.2 | 32% above |
| 100 week MA | $43.1 | 60% above |
| 200 week MA | $36.5 | 89% above |
RPRX is in an uptrend: it's above all five of its weekly moving averages, and 89% above its 200-week average.
RPRX Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $49.0 | $48.9 | -0.2% |
| 2021 | $48.9 | $40.3 | -18% |
| 2022 | $40.3 | $39.4 | -2% |
| 2023 | $39.4 | $28.1 | -29% |
| 2024 | $28.1 | $25.5 | -9.1% |
| 2025 | $25.5 | $39.2 | +54% |
| 2026 YTD | $39.2 | $69.0 | +76% |
RPRX is up 76% so far in 2026, after finishing lower in five of the previous six years.