Harmony Biosciences Holdings, Inc.

Health Care
Biotechnology: Pharmaceutical Preparations
www.harmonybiosciences.com

Earnings Score
Moat Score
Safety Score

Market Cap $1.92B
PE 16
Debt $200.00M
Cash $387.64M
EV $1.73B
FCF $220.18M

Earnings

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Sales & Net Margins

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Earnings	$122.63M
EBIT	$175.85M
ROE	21%
ROA	19%
FCF	$220.18M
Equity	$596.80M
Growth Stability	100%
PE	15.64
PEG	0.2
PB	3.21
P/FCF	8.71
P/S	2.81
Price/Cash	0.2
Debt/Equity	0.34
Debt/FCF	0.91
Net Margins	19%
Gross Margins	79%
Op. Margins	26%
Earnings CAGR	71%
Sales Growth YoY	16%
Sales Growth QoQ	8%
Sales CAGR	42%
FCF CAGR	18%
Equity CAGR	66%
Earnings Stability	-0.22
Earnings Growth YoY	20%
Earnings Growth QoQ	298%

Earnings CAGR 5Y	80%
Sales CAGR 5Y	43%
FCF CAGR 5Y	21%
Equity CAGR 5Y	66%
Earnings CAGR 3Y	35%
Sales CAGR 3Y	35%
FCF CAGR 3Y	26%
Equity CAGR 3Y	49%
Market Cap	$1.92B
Revenue	$681.88M
Assets	$928.14M
Total Debt	$200.00M
Cash	$387.64M
Shares Outstanding	56.82M
EV	1.73B
Earnings Score	6%
Moat Score	96%
Safety Score	96%
Final Score	66%
Working Capital	361.13M
Current Ratio	3.24
Gross Profit	$536.32M
Shares Growth 3y	-1%
Equity Growth QoQ	11%
Equity Growth YoY	24%

Assets & ROA

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Stockholders Equity & ROE

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Harmony Biosciences Holdings Inc is a commercial-stage pharmaceutical company focused on developing and commercializing therapies for patients living with rare neurological diseases who have unmet medical needs. The companys product WAKIX pitolisant is a molecule with a novel mechanism of action specifically designed to increase histamine signaling in the brain by binding to H3 receptors and used for the treatment of cataplexy in adult patients with narcolepsy.

SEC Filings

Direct access to Harmony Biosciences Holdings, Inc. (HRMY) Annual Reports (10K) and Quarterly Reports (10Q) from the SEC website.

2024
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2023
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31
2022
- 10-K Dec 31
- 10-Q Sep 30
- 10-Q Jun 30
- 10-Q Mar 31

Sector Comparison

How does Harmony Biosciences Holdings, Inc. compare to its competitors?

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Peter Lynch's Chart

This chart shows the current pricing of Harmony Biosciences Holdings, Inc. compared to its past. The addition of the earnings trend line provides further insights into the company's earnings power.

CAGR 71%

Stability -22%

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Harmony Biosciences Holdings, Inc. Discounted Cash Flow

Fully customizable DCF calculator online for Harmony Biosciences Holdings, Inc..

Years

Calculation mode

= $7.6B

	0	1	2	3	4	5	6	7	8	9	10	TV
fcf	$220M	$259M	$305M	$360M	$423M	$499M	$587M	$691M	$814M	$959M	$1.1B	$11B
DCF		$236M	$252M	$270M	$289M	$310M	$331M	$355M	$380M	$407M	$435M	$4.4B
Value	$7.6B

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Net Margins	-3K%	-40%	11%	41%	22%	19%
ROA	-	4%	20%	18%	24%	19%
ROE	-	-66%	19%	45%	28%	21%

Good Net Margins (18.7%)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Safety and Stability

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	TTM
Debt over FCF	-	-66.96	2.05	1.38	0.96	0.91
Debt over Equity	-0.23	2.06	1.08	0.5	0.45	0.34
Growth Stability	-	-	-	-	100%	100%

Good Debt/FCF ratio (0.91)

Net Margins are high enough to offer a good protection on the profits in case of higher costs or higher interests. Furthermore higher margins reduce earnings’ volatility.

Good Debt/Equity ratio (0.34)

The company is not overleveraged and has a good balance between equity and debt.

Good Graham’s Stability (100%)

The company has a good stability in its earnings, which is a sign of a good competitive advantage.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Years	12/2019	12/2020	12/2021	12/2022	12/2023	CAGR 5Y
Revenue YoY growth	-	3K%	91%	43%	33%	43%
Earnings YoY growth	-	-66%	-154%	425%	-29%	80%
Equity YoY growth	-	-123%	92%	116%	16%	66%
FCF YoY growth	-	-96%	-3K%	47%	52%	21%