Pharming Group N.V. Financials

PHAR

Source SEC Filings (10-K/10-Q) Updated Apr 2, 2026 Currency USD FYE April

This page shows Pharming Group N.V. (PHAR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 60/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Growth

Pharming Group N.V.'s revenue surged 26.6% year-over-year to $376.1M, reflecting rapid business expansion. This strong growth earns a score of 78/100.

Leverage

100

Pharming Group N.V. carries a low D/E ratio of 0.05, meaning only $0.05 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Pharming Group N.V.'s current ratio of 2.59 indicates adequate short-term liquidity, earning a score of 49/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Pharming Group N.V. has a free cash flow margin of 14.3%, earning a moderate score of 61/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Pharming Group N.V. generates a 0.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 13/100. This is up from -5.4% the prior year.

Piotroski F-Score Neutral

6/9

Pharming Group N.V. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

21.56x

For every $1 of reported earnings, Pharming Group N.V. generates $21.56 in operating cash flow ($54.7M OCF vs $2.5M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$376.1M

YoY+26.6%

5Y CAGR+12.1%

Pharming Group N.V. generated $376.1M in revenue in fiscal year 2025. This represents an increase of 26.6% from the prior year.

EBITDA

N/A

Net Income

$2.5M

YoY+121.4%

5Y CAGR-41.7%

Pharming Group N.V. reported $2.5M in net income in fiscal year 2025. This represents an increase of 121.4% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

$54.0M

YoY+2187.4%

5Y CAGR-7.3%

Pharming Group N.V. generated $54.0M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 2187.4% from the prior year.

Cash & Debt

$145.3M

YoY+164.5%

5Y CAGR-6.7%

Pharming Group N.V. held $145.3M in cash against $14.4M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

702M

YoY+3.1%

5Y CAGR+1.9%

Pharming Group N.V. had 702M shares outstanding in fiscal year 2025. This represents an increase of 3.1% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

0.7%

YoY+4.7pp

5Y CAGR-17.1pp

Pharming Group N.V.'s net profit margin was 0.7% in fiscal year 2025, showing the share of revenue converted to profit. This is up 4.7 percentage points from the prior year.

Return on Equity

0.9%

YoY+6.3pp

5Y CAGR-19.7pp

Pharming Group N.V.'s ROE was 0.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$749K

YoY-5.2%

5Y CAGR-30.6%

Pharming Group N.V. invested $749K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 5.2% from the prior year.

PHAR Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$376.1M+26.6%	$297.2M+21.1%	$245.3M+19.3%	$205.6M+3.4%	$198.9M-6.3%	$212.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.0M-0.4%	$1.0M-4.6%	$1.1M+74.9%	$622K-21.8%	$795K+3.8%	$766K
Income Tax	$10.3M+207.9%	$3.3M+328.8%	-$1.5M-211.5%	$1.3M-81.5%	$7.1M+11.6%	$6.3M
Net Income	$2.5M+121.4%	-$11.8M-12.3%	-$10.5M-177.1%	$13.7M-14.5%	$16.0M-57.6%	$37.7M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

PHAR Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$500.0M+25.0%	$400.0M-13.6%	$462.9M+8.7%	$425.8M+7.2%	$397.3M-5.1%	$418.5M
Current Assets	$299.5M+7.6%	$278.4M-12.0%	$316.3M+14.0%	$277.5M+11.2%	$249.4M-5.2%	$263.2M
Cash & Equivalents	$145.3M+164.5%	$54.9M-11.0%	$61.7M-70.2%	$207.3M+8.0%	$191.9M-6.5%	$205.2M
Inventory	$64.9M+16.5%	$55.7M-1.8%	$56.8M+34.1%	$42.3M+55.0%	$27.3M+29.1%	$21.2M
Accounts Receivable	$54.7M-0.2%	$54.8M+18.8%	$46.2M+67.1%	$27.6M-7.9%	$30.0M-16.5%	$35.9M
Goodwill	$581K	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$222.9M+24.6%	$178.9M-26.7%	$244.1M+10.4%	$221.2M+8.2%	$204.4M-13.0%	$235.0M
Current Liabilities	$115.8M+56.9%	$73.8M-5.3%	$78.0M+30.6%	$59.7M+27.6%	$46.8M-39.1%	$76.8M
Long-Term Debt	$14.4M-46.8%	$27.0M-8.6%	$29.5M-1.1%	$29.8M+61.7%	$18.5M+124.3%	$8.2M
Total Equity	$277.1M+25.4%	$221.1M+1.0%	$218.8M+6.9%	$204.6M+6.1%	$192.9M+5.2%	$183.4M
Retained Earnings	-$273.0M+0.9%	-$275.5M-3.9%	-$265.3M-3.4%	-$256.4M+6.1%	-$273.2M+7.6%	-$295.6M

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20
Total Assets	$400.0M-13.6%	$462.9M+8.7%	$425.8M+7.2%	$397.3M-5.1%	$418.5M+63.5%	$255.9M
Current Assets	$278.4M-12.0%	$316.3M+14.0%	$277.5M+11.2%	$249.4M-5.2%	$263.2M+120.4%	$119.4M
Cash & Equivalents	$54.9M-11.0%	$61.7M-70.2%	$207.3M+8.0%	$191.9M-6.5%	$205.2M+175.9%	$74.3M
Inventory	$55.7M-1.8%	$56.8M+34.1%	$42.3M+55.0%	$27.3M+29.1%	$21.2M+30.4%	$16.2M
Accounts Receivable	$54.8M+18.8%	$46.2M+67.1%	$27.6M-7.9%	$30.0M-16.5%	$35.9M+24.4%	$28.9M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$178.9M-26.7%	$244.1M+10.4%	$221.2M+8.2%	$204.4M-13.0%	$235.0M+69.7%	$138.5M
Current Liabilities	$73.8M-5.3%	$78.0M+30.6%	$59.7M+27.6%	$46.8M-39.1%	$76.8M-32.7%	$114.3M
Long-Term Debt	$27.0M-8.6%	$29.5M-1.1%	$29.8M+61.7%	$18.5M+124.3%	$8.2M+68.2%	$4.9M
Total Equity	$221.1M+1.0%	$218.8M+6.9%	$204.6M+6.1%	$192.9M+5.2%	$183.4M+56.3%	$117.4M
Retained Earnings	-$275.5M-3.9%	-$265.3M-3.4%	-$256.4M+6.1%	-$273.2M+7.6%	-$295.6M+13.2%	-$340.7M

PHAR Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$54.7M+3147.8%	-$1.8M+89.6%	-$17.3M-177.0%	$22.5M-40.7%	$37.8M-54.7%	$83.6M
Capital Expenditures	$749K-5.2%	$790K-45.0%	$1.4M+4.4%	$1.4M-87.2%	$10.7M+130.6%	$4.7M
Free Cash Flow	$54.0M+2187.4%	-$2.6M+86.2%	-$18.7M-188.9%	$21.1M-22.2%	$27.1M-65.7%	$79.0M
Investing Cash Flow	$26.3M-17.0%	$31.6M+124.4%	-$129.4M-2530.7%	$5.3M+125.0%	-$21.3M-36.3%	-$15.6M
Financing Cash Flow	$1.5M+104.3%	-$34.4M-3212.0%	-$1.0M+79.1%	-$5.0M+82.2%	-$27.9M-146.1%	$60.7M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

PHAR Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	0.7%+4.7pp	-4.0%+0.3pp	-4.3%-10.9pp	6.7%-1.4pp	8.0%-9.8pp	17.8%
Return on Equity	0.9%+6.3pp	-5.4%-0.5pp	-4.8%-11.5pp	6.7%-1.6pp	8.3%-12.3pp	20.6%
Return on Assets	0.5%+3.5pp	-3.0%-0.7pp	-2.3%-5.5pp	3.2%-0.8pp	4.0%-5.0pp	9.0%
Current Ratio	2.59-1.2	3.77-0.3	4.06-0.6	4.65-0.7	5.33+1.9	3.43
Debt-to-Equity	0.05-0.1	0.12-0.0	0.13-0.0	0.15+0.1	0.10+0.1	0.04
FCF Margin	14.3%+15.2pp	-0.9%+6.8pp	-7.6%-17.9pp	10.3%-3.4pp	13.6%-23.6pp	37.2%

Metric	Q3'25	Q3'24	Q3'23	Q3'22	Q3'21	Q3'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	3.77-0.3	4.06-0.6	4.65-0.7	5.33+1.9	3.43+2.4	1.05
Debt-to-Equity	0.12-0.0	0.13-0.0	0.15+0.1	0.10+0.1	0.040.0	0.04
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Pharming Group N.V.'s annual revenue?

Pharming Group N.V. (PHAR) reported $376.1M in total revenue for fiscal year 2025. This represents a 26.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Pharming Group N.V.'s revenue growing?

Pharming Group N.V. (PHAR) revenue grew by 26.6% year-over-year, from $297.2M to $376.1M in fiscal year 2025.

Is Pharming Group N.V. profitable?

Yes, Pharming Group N.V. (PHAR) reported a net income of $2.5M in fiscal year 2025, with a net profit margin of 0.7%.

How much debt does Pharming Group N.V. have?

As of fiscal year 2025, Pharming Group N.V. (PHAR) had $145.3M in cash and equivalents against $14.4M in long-term debt.

What is Pharming Group N.V.'s net profit margin?

Pharming Group N.V. (PHAR) had a net profit margin of 0.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Pharming Group N.V.'s return on equity (ROE)?

Pharming Group N.V. (PHAR) has a return on equity of 0.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Pharming Group N.V.'s free cash flow?

Pharming Group N.V. (PHAR) generated $54.0M in free cash flow during fiscal year 2025. This represents a 2187.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Pharming Group N.V.'s operating cash flow?

Pharming Group N.V. (PHAR) generated $54.7M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Pharming Group N.V.'s total assets?

Pharming Group N.V. (PHAR) had $500.0M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Pharming Group N.V.'s capital expenditures?

Pharming Group N.V. (PHAR) invested $749K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Pharming Group N.V. have outstanding?

Pharming Group N.V. (PHAR) had 702M shares outstanding as of fiscal year 2025.

What is Pharming Group N.V.'s current ratio?

Pharming Group N.V. (PHAR) had a current ratio of 2.59 as of fiscal year 2025, which is generally considered healthy.

What is Pharming Group N.V.'s debt-to-equity ratio?

Pharming Group N.V. (PHAR) had a debt-to-equity ratio of 0.05 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Pharming Group N.V.'s return on assets (ROA)?

Pharming Group N.V. (PHAR) had a return on assets of 0.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Pharming Group N.V.'s Piotroski F-Score?

Pharming Group N.V. (PHAR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Pharming Group N.V.'s earnings high quality?

Pharming Group N.V. (PHAR) has an earnings quality ratio of 21.56x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Pharming Group N.V.?

Pharming Group N.V. (PHAR) scores 60 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.