Royalty Pharma plc
RPRX · Pharmaceutical Preparations · 388.1M shares · +13%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: $302M (gross $305M, SBC $2M)
Reference price $55.18 · est. market cap ~$21.4B — last insider sale, 2026-06-24 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
A84Pharma royalty aggregator — elite operating margin and cash-flow conversion with diversified royalty streams.
Strengths
- Elite margins and cash conversion — operating margin 66% (99.6th), net margin 32% (91st), OCF margin 105% (99th)
- Diversified blockbuster-royalty portfolio — per 10-K
Risks
- Royalty-asset-replenishment dependence — per 10-K
- Patent-cliff/competition exposure on underlying drugs — per 10-K
- Leverage from royalty acquisitions — per 10-K
Notable findings
- Chronic dilutionShare count +13%/yr over 4y (dilution)
- Strong balance sheetStrong balance sheet — $1.1B cash & investments
- Insider sellingInsider selling — 34 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$42M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
65.6%
Net margin
32.4%
Return on assets
3.9%
Revenue growth (QoQ)
1.4%
Net-income growth
-10.2%
Current ratio
2.4×
Cash & investments
$1.1B
Stock comp / revenue
12.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | Urist Marshall | Sell | 9.1K | $55.18 |
| 2026-06-23 | Hite Christopher | Sell | 32K | $54.11 |
| 2026-06-23 | Hite Christopher | Sell | 118K | $54.47 |
| 2026-06-05 | Coric Vlad | Grant | 4.5K | — |
| 2026-06-05 | Norden Gregory | Grant | 4.5K | — |
| 2026-06-05 | HODGSON DAVID C | Grant | 4.5K | — |
| 2026-06-05 | LOVE TED W | Grant | 4.5K | — |
| 2026-06-05 | WEATHERMAN ELIZABETH H | Grant | 4.5K | — |
| 2026-06-05 | Bassler Bonnie L | Grant | 4.5K | — |
| 2026-06-05 | Engelbert Catherine M. | Grant | 4.5K | — |
| 2026-06-05 | Ho Carole | Grant | 4.5K | — |
| 2026-05-26 | Coyne Terrance P. | Sell | 64K | $53.98 |
| 2026-05-20 | Urist Marshall | Sell | 14K | $52.75 |
| 2026-05-14 | Urist Marshall | Sell | 14K | $53.06 |
| 2026-05-14 | Norden Gregory | Sell | 3.0K | $53.00 |
| 2026-05-06 | Urist Marshall | Grant | 18K | — |
| 2026-05-06 | Coyne Terrance P. | Grant | 24K | — |
| 2026-05-06 | Hite Christopher | Grant | 24K | — |
| 2026-05-06 | Legorreta Pablo G. | Grant | 144K | — |
| 2026-04-28 | Coyne Terrance P. | Sell | 33K | $49.78 |
| 2026-04-28 | Coyne Terrance P. | Sell | 1.9K | $49.78 |
| 2026-04-01 | Coyne Terrance P. | Sell | 1.9K | $48.33 |
| 2026-04-01 | Coyne Terrance P. | Sell | 33K | $48.33 |
| 2026-03-31 | Bassler Bonnie L | Grant | 815 | $45.98 |
| 2026-03-23 | Coyne Terrance P. | Sell | 33K | $45.53 |
| 2026-03-23 | Coyne Terrance P. | Sell | 1.9K | $45.53 |
| 2026-03-02 | Coyne Terrance P. | Sell | 583 | $47.01 |
| 2026-03-02 | Coyne Terrance P. | Sell | 22K | $46.67 |
| 2026-03-02 | Coyne Terrance P. | Sell | 10K | $47.01 |
| 2026-03-02 | Coyne Terrance P. | Sell | 1.3K | $46.67 |
| 2026-02-23 | Coyne Terrance P. | Sell | 33K | $45.32 |
| 2026-02-23 | Coyne Terrance P. | Sell | 1.9K | $45.32 |
| 2026-02-11 | Coyne Terrance P. | Grant | 27K | — |
| 2026-02-11 | Legorreta Pablo G. | Grant | 158K | — |
| 2026-02-11 | Hite Christopher | Grant | 27K | — |
| 2026-02-11 | Urist Marshall | Grant | 20K | — |
| 2026-02-04 | Coyne Terrance P. | Sell | 1.1K | $43.29 |
| 2026-02-04 | Coyne Terrance P. | Sell | 19K | $43.29 |
| 2026-02-03 | Coyne Terrance P. | Sell | 109K | $42.84 |
| 2026-02-03 | Coyne Terrance P. | Sell | 6.2K | $42.84 |
| 2026-02-02 | Coyne Terrance P. | Sell | 103K | $42.08 |
| 2026-02-02 | Coyne Terrance P. | Sell | 5.8K | $42.08 |
| 2026-01-30 | Urist Marshall | Sell | 20K | $41.09 |
| 2026-01-23 | Urist Marshall | Sell | 20K | $40.26 |
| 2026-01-20 | Coyne Terrance P. | Sell | 66K | $39.35 |
| 2026-01-20 | Coyne Terrance P. | Sell | 3.8K | $39.35 |
| 2026-01-16 | Urist Marshall | Sell | 20K | $39.52 |
| 2026-01-09 | Urist Marshall | Sell | 20K | $40.78 |
| 2026-01-02 | Urist Marshall | Sell | 20K | $38.48 |
| 2026-01-02 | Coyne Terrance P. | Sell | 66K | $38.42 |
| 2026-01-02 | Coyne Terrance P. | Sell | 3.8K | $38.42 |
| 2025-12-31 | Bassler Bonnie L | Grant | 967 | $38.74 |
| 2025-12-26 | Urist Marshall | Sell | 20K | $39.32 |
| 2025-12-19 | Urist Marshall | Sell | 20K | $38.38 |
| 2025-12-18 | Lloyd George W. | Sell | 31K | $38.50 |
| 2025-12-17 | Lloyd George W. | Sell | 79K | $38.57 |
| 2025-12-16 | Urist Marshall | Sell | 20K | $38.32 |
| 2025-12-15 | Coyne Terrance P. | Sell | 66K | $38.36 |
| 2025-12-15 | Coyne Terrance P. | Sell | 3.8K | $38.36 |
| 2025-12-05 | Urist Marshall | Sell | 18K | $39.15 |
| 2025-12-05 | Urist Marshall | Sell | 23K | $39.15 |
| 2025-12-03 | Lloyd George W. | Sell | 110K | $39.77 |
| 2025-12-01 | Urist Marshall | Sell | 23K | $39.93 |
| 2025-12-01 | Coyne Terrance P. | Sell | 66K | $39.87 |
| 2025-12-01 | Coyne Terrance P. | Sell | 3.8K | $39.87 |
| 2025-12-01 | Urist Marshall | Sell | 18K | $39.90 |
| 2025-11-24 | Coyne Terrance P. | Sell | 624 | $37.96 |
| 2025-11-24 | Coyne Terrance P. | Sell | 55K | $38.67 |
| 2025-11-24 | Coyne Terrance P. | Sell | 11K | $37.96 |
| 2025-11-24 | Coyne Terrance P. | Sell | 3.1K | $38.67 |
| 2025-11-19 | Lloyd George W. | Sell | 2.5K | $39.01 |
| 2025-11-19 | Lloyd George W. | Sell | 48K | $38.28 |
| 2025-11-19 | Lloyd George W. | Sell | 4.6K | $39.01 |
| 2025-11-19 | Lloyd George W. | Sell | 47K | $38.28 |
| 2025-11-19 | Lloyd George W. | Sell | 4.6K | $39.01 |
| 2025-11-19 | Lloyd George W. | Sell | 26K | $38.28 |
| 2025-11-19 | Lloyd George W. | Sell | 2.8K | $38.29 |
| 2025-11-19 | Lloyd George W. | Sell | 230 | $39.03 |
| 2025-11-17 | Coyne Terrance P. | Sell | 66K | $39.30 |
| 2025-11-17 | Coyne Terrance P. | Sell | 3.8K | $39.30 |
| 2025-11-07 | Urist Marshall | Conversion | 160K | — |
| 2025-11-05 | Hite Christopher | Grant | 6.2K | — |
| 2025-11-05 | Legorreta Pablo G. | Grant | 37K | — |
| 2025-11-05 | Coyne Terrance P. | Grant | 6.2K | — |
| 2025-11-05 | Urist Marshall | Grant | 4.6K | — |
| 2025-11-05 | Lloyd George W. | Grant | 6.2K | — |
| 2025-09-30 | Bassler Bonnie L | Grant | 1.0K | $35.79 |
| 2025-08-11 | Norden Gregory | Sell | 34K | $36.23 |
| 2025-08-08 | Norden Gregory | Conversion | 145K | — |
| 2025-08-06 | Coyne Terrance P. | Grant | 3.7K | — |
| 2025-08-06 | Legorreta Pablo G. | Grant | 22K | — |
| 2025-08-06 | Lloyd George W. | Grant | 3.7K | — |
| 2025-08-06 | Hite Christopher | Grant | 3.7K | — |
| 2025-08-06 | Urist Marshall | Grant | 2.8K | — |
| 2025-07-31 | WEATHERMAN ELIZABETH H | Grant | 2.8K | — |
| 2025-07-31 | WEATHERMAN ELIZABETH H | Grant | 5.8K | — |
| 2025-07-31 | Ho Carole | Grant | 2.8K | — |
| 2025-07-31 | Ho Carole | Grant | 5.8K | — |
| 2025-06-30 | Fernandez Henry A | Grant | 1.1K | $35.24 |
| 2025-06-30 | Bassler Bonnie L | Grant | 1.1K | $35.24 |
| 2025-05-16 | Legorreta Pablo G. | Other | 530K | — |
| 2025-05-13 | Engelbert Catherine M. | Grant | 7.6K | — |
| 2025-05-13 | Norden Gregory | Grant | 7.6K | — |
| 2025-05-13 | LOVE TED W | Grant | 7.6K | — |
| 2025-05-13 | HODGSON DAVID C | Grant | 7.6K | — |
| 2025-05-13 | Fernandez Henry A | Grant | 7.6K | — |
| 2025-05-13 | DESOUZA ERROL B | Grant | 7.6K | — |
| 2025-05-13 | Coric Vlad | Grant | 7.6K | — |
| 2025-05-13 | Bassler Bonnie L | Grant | 7.6K | — |
| 2025-05-08 | Legorreta Pablo G. | Grant | 288K | — |
| 2025-05-08 | Lloyd George W. | Grant | 49K | — |
| 2025-05-08 | Hite Christopher | Grant | 49K | — |
| 2025-05-08 | Coyne Terrance P. | Grant | 49K | — |
| 2025-05-08 | Urist Marshall | Grant | 36K | — |
| 2025-04-21 | Coric Vlad | Grant | 3.2K | — |
| 2025-03-31 | Bassler Bonnie L | Grant | 1.1K | $32.87 |
| 2025-03-31 | Fernandez Henry A | Grant | 1.1K | $32.87 |
| 2025-02-14 | Hite Christopher | Conversion | 300K | — |
| 2024-12-31 | Bassler Bonnie L | Grant | 1.5K | $24.94 |
| 2024-12-31 | Fernandez Henry A | Grant | 1.5K | $24.94 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (1)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-04 | 2026-06-04 | 0001193125-26-257432 ↗ |
| 8-K | 2026-05-28 | 2026-05-22 | 0001193125-26-245163 ↗ |
| 10-Q | 2026-05-06 | 2026-03-31 | 0001802768-26-000009 ↗ |
| 8-K | 2026-05-06 | 2026-05-06 | 0001802768-26-000008 ↗ |
| 8-K | 2026-04-13 | 2026-04-13 | 0001193125-26-152145 ↗ |
| 8-K | 2026-02-11 | 2026-02-11 | 0001802768-26-000002 ↗ |
| 10-K | 2026-02-11 | 2025-12-31 | 0001802768-26-000003 ↗ |
| 8-K | 2025-12-22 | 2025-12-19 | 0001193125-25-328100 ↗ |
| 8-K | 2025-12-22 | 2025-12-20 | 0001193125-25-328759 ↗ |
| 10-Q | 2025-11-05 | 2025-09-30 | 0001802768-25-000114 ↗ |
| 8-K | 2025-11-05 | 2025-11-05 | 0001802768-25-000113 ↗ |
| 8-K | 2025-09-16 | 2025-09-16 | 0001193125-25-204983 ↗ |