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Held by 161 of 2,417 reporting institutions (93th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 23 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| LLY | $1.26T | 61.8× | — | 19.4× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 1,730 |
| JNJ | $657.7B | 24.8× | 20.9× | 7.0× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | 0.9× | 1,839 |
| ABBV | $521.1B | 125.0× | 36.8× | 8.5× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 3.9× | 1,635 |
| MRK | $368.9B | 20.5× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 1,469 |
| ABT | $183.8B | 28.6× | 19.8× | 4.2× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 0.5× | 1,081 |
| PFE | $174.0B | 22.4× | — | 2.8× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 1,034 |
| VRTX | $141.7B | 36.5× | 31.2× | 11.8× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | -1.2× | 568 |
| BMY | $127.7B | 18.1× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 904 |
| REGN | $95.5B | 22.4× | 22.9× | 6.7× | 1.0% | — | 31.4% | 14.4% | 13.6% | -0.3× | 408 |
| TEVA | $49.1B | 34.8× | 18.4× | 2.8× | 4.3% | 51.8% | 8.2% | 17.8% | 14.5% | -0.7× | 7 |
| ONC | $42.1B | — | 65.5× | 7.9× | 40.2% | 87.5% | 5.4% | 6.6% | 5.4% | -6.1× | 61 |
| ZTS | $32.9B | 13.2× | 10.4× | 3.5× | 2.3% | 71.8% | 28.2% | 78.3% | 21.5% | 1.7× | 388 |
| RPRX | $29.9B | 37.7× | 24.5× | 12.6× | 5.1% | — | 32.4% | 7.9% | 4.1% | 5.3× | 161 |
| UTHR | $25.7B | 21.5× | 15.3× | 8.1× | 10.6% | 87.9% | 41.9% | 18.8% | 18.8% | -1.0× | 202 |
| INSM | $24.7B | — | — | 40.7× | 66.7% | 79.7% | -211% | -173% | -99.8% | — | 154 |
| ALNY | $22.1B | 70.8× | 36.7× | 6.0× | 65.2% | 81.8% | 8.4% | 39.8% | 39.8% | -3.0× | 163 |
| ELAN | $11.5B | — | — | 2.4× | 6.2% | 55.0% | -4.9% | -3.5% | -2.2% | — | 122 |
| BMRN | $11.3B | 32.5× | 21.7× | 3.5× | 12.9% | 77.7% | 10.8% | 5.7% | 5.2% | -1.5× | 119 |
| TGTX | $9.4B | 22.1× | 77.3× | 15.2× | 87.3% | 83.7% | 72.6% | 69.0% | 50.0% | 1.4× | 99 |
| CORT | $8.8B | 98.9× | 188.2× | 11.5× | 12.8% | 98.3% | 13.1% | 15.4% | 15.4% | -2.6× | 107 |
| ALKS | $7.6B | 31.7× | 25.7× | 5.2× | -5.2% | 86.7% | 16.4% | 13.3% | 13.3% | -1.4× | 74 |
| AMRX | $7.5B | 97.8× | 21.7× | 2.5× | 8.0% | 36.9% | 2.4% | -102% | 2.9% | 5.1× | 73 |
| KNSA | $7.2B | 123.0× | 91.5× | 10.7× | 60.1% | 88.5% | 8.7% | 10.4% | 10.4% | -2.1× | 1 |
| IONS | $7.2B | — | — | 7.7× | 33.8% | 98.3% | -40.4% | -78.0% | -17.0% | — | 81 |
Peers = companies sharing RPRX's sector (Pharmaceutical Preparations) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $67.18 today, the market must believe free cash flow compounds -2.1%/yr for a decade (off $2.65B on the SBC-adjusted basis).
On the basis ($2.75B) the requirement is -2.6%/yr. The difference is what charging stock compensation costs.
The market's -2.1% is more conservative than its 7-yr track record.
Default is 7.4% — this company's computed cost of capital (computed WACC), the same rate the Analysis tab discounts at.
2-stage DCF · 0.45B shares (market data) · net debt $8.33B
mean 6.0% · volatility σ 20% · implied rate exceeded in 5/7 yrs
Central path = implied -2.1%/yr growth; shaded band = ±1σ (20%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $1.23B buybacks = $1.23B returned on $2.49B FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 8 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 4%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 8 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it. This year they exceeded net income, so the ribbons are capped at earnings and understate what was actually returned.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $2.38B 100.0% | $2.26B 100.0% | $2.35B 100.0% | $2.24B 100.0% | $2.29B 100.0% | $2.12B 100.0% | $1.81B 100.0% | $1.79B 100.0% |
| Research & Development | $452.0M 19.0% | $2.0M 0.1% | $52.0M 2.2% | $177.1M 7.9% | $200.1M 8.7% | $26.3M 1.2% | $83.0M 4.6% | $392.6M 21.9% |
| Selling, General & Admin | $573.5M 24.1% | $236.7M 10.5% | $249.7M 10.6% | $227.3M 10.2% | $182.8M 8.0% | $181.7M 8.6% | $103.4M 5.7% | $61.9M 3.4% |
| Total Operating Expenses | $818.7M 34.4% | $971.1M 42.9% | $862.4M 36.6% | $1.93B 86.3% | $858.7M 37.5% | $527.0M 24.8% | -$808.9M -44.6% | $430.4M 24.0% |
| Operating Income | $1.56B 65.6% | $1.29B 57.1% | $1.49B 63.4% | $307.1M 13.7% | $1.43B 62.5% | $1.60B 75.2% | $2.62B 144.6% | $1.36B 76.0% |
| Interest Expense | $307.7M 12.9% | $225.5M 10.0% | $187.2M 7.9% | $188.0M 8.4% | $166.1M 7.3% | $157.1M 7.4% | $268.6M 14.8% | $280.0M 15.6% |
| Interest & Investment Income | $33.6M 1.4% | $47.3M 2.1% | $72.3M 3.1% | $78.3M 3.5% | — | — | — | — |
| Other Income (Expense), net | -$235.3M -9.9% | $38.4M 1.7% | $207.9M 8.8% | -$77.0M -3.4% | -$189.5M -8.3% | $106.6M 5.0% | -$161.8M -8.9% | $153.4M 8.5% |
| Pretax Income | $1.32B 55.7% | $1.33B 58.8% | $1.70B 72.2% | $230.1M 10.3% | $1.24B 54.2% | $1.70B 80.2% | $2.46B 135.7% | $1.52B 84.6% |
| Income Tax Expense | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% | $0 0.0% |
| Net Income | $770.9M 32.4% | $859.0M 37.9% | $1.13B 48.2% | $42.8M 1.9% | $619.7M 27.1% | $975.0M 45.9% | $2.35B 129.4% | $1.38B 76.8% |
| Per Share | ||||||||
| EPS (Basic) | $1.79 | $1.92 | $2.54 | $0.10 | $1.49 | $1.32 | — | — |
| EPS (Diluted) | $1.78 | $1.91 | $2.53 | $0.10 | $1.49 | $1.32 | — | — |
| Weighted Avg Shares (Basic) | 429.8M | 448.2M | 447.6M | 438.0M | 414.8M | 375.4M | — | — |
| Weighted Avg Shares (Diluted) | 564.5M | 594.1M | 602.9M | 438.0M | 414.8M | 375.5M | — | — |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
EOD close · as of 2026-10-30
Where each multiple sits in its own 6-yr range · 96th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 6-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 8% against ROIC 4% — 4% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 4.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| R&D | 21.9 | 4.6 | 1.2 | 8.7 | 7.9 | 2.2 | 0.1 | 19.0 |
| SG&A | 3.4 | 5.7 | 8.6 | 8.0 | 10.2 | 10.6 | 10.5 | 24.1 |
| Operating Income | 76.0 | 144.6 | 75.2 | 62.5 | 13.7 | 63.4 | 57.1 | 65.6 |
| Income Tax | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net Income | 76.8 | 129.4 | 45.9 | 27.1 | 1.9 | 48.2 | 37.9 | 32.4 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on RPRX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~3.4% on $8.95B of debt.
Cash of $618.7M fully covers short-term debt of $380.0M.
Mostly long-term debt (balance-sheet current vs non-current split). A year-by-year maturity schedule wasn't disclosed for this issuer.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Educational — not a recommendation.
Earns 1.34pts above its cost of capital, without much margin of safety.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2019 | 21.6% | 7.4% (today's — no rate published for this year) | 14.1pts |
| FY2020 | 10.8% | 7.4% (today's — no rate published for this year) | 3.4pts |
| FY2021 | 9.0% | 5.8% | 3.2pts |
| FY2022 | 2.0% | 7.7% | -5.7pts |
| FY2023 | 9.4% | 7.0% | 2.5pts |
| FY2024 | 7.6% | 7.8% | -0.2pts |
| FY2025 | 8.6% | 6.6% | 2.0pts |
| Now | 4.1% | 7.4% | -3.3pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2018 | not reported | 76.0% | 76.8% |
| FY2019 | not reported | 144.6% | 129.4% |
| FY2020 | not reported | 75.2% | 45.9% |
| FY2021 | not reported | 62.5% | 27.1% |
| FY2022 | not reported | 13.7% | 1.9% |
| FY2023 | not reported | 63.4% | 48.2% |
| FY2024 | not reported | 57.1% | 37.9% |
| FY2025 | not reported | 65.6% | 32.4% |
Leverage and buybacks account for 4 points of the 8% return on equity in FY2025. The business earns 4% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
$924M of goodwill — 5% of invested capital. The gap is what was paid above the fair value of what was bought; it is real capital shareholders provided, so neither bar is the whole answer.
The spread is 1.34pts and would invert under a ±2% move in WACC, so the verdict rests on the cost-of-capital assumption rather than on the business.
Free cash flow of $2.49B exceeds revenue of $2.38B, so the cash flow statement is carrying customer balances rather than earnings. Cash conversion cannot be read here.
Banks, brokers, insurers and payment companies run customer money through operating cash flow. Treat free cash flow, FCF yield and any DCF on this company as unreliable.
Missing from our data, so excluded from this answer: free cash flow attributable to the company.
Covers interest 3.5x under stress — adequate, without much room.
| EBITDA decline | Interest coverage |
|---|---|
| 0% | 5.07x |
| 5% | 4.82x |
| 10% | 4.56x |
| 15% | 4.31x |
| 20% | 4.06x |
| 25% | 3.80x |
| 30% | 3.55x |
| 35% | 3.29x |
| 40% | 3.04x |
| 45% | 2.79x |
| 50% | 2.53x |
| 55% | 2.28x |
| 60% | 2.03x |
Balance sheet at 2025-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
Coverage is comfortable at 5.1x today but falls to 3.5x after a 30% EBITDA decline — the cushion is earnings, not liquidity.
At $67.18, free cash flow must compound -2.12%/yr for 10 years. It has done 4.73%/yr over 6 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | 21.7% | −2.1% |
| FY2021 | −0.7% | −2.1% |
| FY2022 | 6.3% | −2.1% |
| FY2023 | 39.4% | −2.1% |
| FY2024 | −7.3% | −2.1% |
| FY2025 | −20.5% | −2.1% |
This is solved on free cash flow AFTER stock compensation ($2.65B against $2.75B before it). On the unadjusted figure the requirement would be -2.58%/yr. Which is right depends on whether you think the share issuance is a recurring cost of running the business.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-10-05 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 4,126 | $57.10 | $236k |
| 2026-09-30 | Bassler Bonnie L Director | Grant | 642 | $58.41 | $37k |
| 2026-09-28 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 4,126 | $57.88 | $239k |
| 2026-09-22 | 2 co-filers EVP & Chairman, Partnering | 10b5-1 plan sale |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 96,073 |
| $58.51 |
| $5.6m |
| 2026-09-22 | 2 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 3,927 | $58.93 | $231k |
| 2026-08-19 | 2 co-filers EVP & Chairman, Partnering | Gift | 16,800 | $0.00 | $0 |
| 2026-08-18 | 2 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 100,000 | $59.97 | $6.0m |
| 2026-08-13 | 2 co-filers EVP & CFO | 10b5-1 plan saleindirect | 9,230 | $58.59 | $541k |
| 2026-08-13 | 2 co-filers EVP & CFO | 10b5-1 plan saleindirect | 1,772 | $59.14 | $105k |
| 2026-08-07 | 2 co-filers EVP, Research & Investments | Giftindirect | 3,000 | $0.00 | — |
| 2026-08-07 | 2 co-filers EVP & CFO | Giftindirect | 18,500 | $0.00 | — |
| 2026-08-07 | 2 co-filers CEO, Chairman of the Board | Gift | 30,000 | $0.00 | — |
| 2026-08-05 | 2 co-filers EVP, Research & Investments | Grant | 8,252 | $0.00 | $0 |
| 2026-08-05 | 2 co-filers EVP & CFO | Grantindirect | 11,002 | $0.00 | $0 |
| 2026-08-05 | Hite Christopher EVP & Chairman, Partnering | Grantindirect | 11,002 | $0.00 | $0 |
| 2026-08-05 | 2 co-filers CEO, Chairman of the Board | Grant | 65,216 | $0.00 | $0 |
| 2026-07-01 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 9,099 | $55.88 | $508k |
| 2026-06-30 | Bassler Bonnie L Director | Grant | 689 | $54.40 | $37k |
| 2026-06-30 | 4 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 97,446 | $56.50 | $5.5m |
| 2026-06-30 | 4 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 2,554 | $57.10 | $146k |
| 2026-06-30 | 4 co-filers EVP & Chairman, Partnering | 10b5-1 plan sale | 29,400 | $56.44 | $1.7m |
| 2026-06-30 | 4 co-filers EVP & Chairman, Partnering | 10b5-1 plan sale | 600 | $57.09 | $34k |
| 2026-06-24 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 9,098 | $55.18 | $502k |
| 2026-06-23 | 2 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 32,408 | $54.11 | $1.8m |
| 2026-06-23 | 2 co-filers EVP & Chairman, Partnering | 10b5-1 plan saleindirect | 117,592 | $54.47 | $6.4m |
| 2026-06-05 | Coric Vlad Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Engelbert Catherine M. Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Ho Carole Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Bassler Bonnie L Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Norden Gregory Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Hodgson David C Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Love Ted W Director | Grant | 4,545 | $0.00 | $0 |
| 2026-06-05 | Weatherman Elizabeth H Director | Grant | 4,545 | $0.00 | $0 |
| 2026-05-26 | Coyne Terrance P. EVP & CFO | 10b5-1 plan saleindirect | 64,399 | $53.98 | $3.5m |
| 2026-05-20 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 13,684 | $52.75 | $722k |
| 2026-05-14 | Urist Marshall EVP, Research & Investments | 10b5-1 plan sale | 13,684 | $53.06 | $726k |
| 2026-05-14 | Norden Gregory Director | 10b5-1 plan sale | 3,045 | $53.00 | $161k |
| 2026-05-06 | Urist Marshall EVP, Research & Investments | Grant | 18,197 | $0.00 | $0 |
| 2026-05-06 | Coyne Terrance P. EVP & CFO | Grantindirect | 24,263 | $0.00 | $0 |
| 2026-05-06 | Hite Christopher EVP & Vice Chairman | Grantindirect | 24,263 | $0.00 | $0 |