CORTCorcept Therapeutics Incorporated
Is the business good?
The checks split: nothing decisive, though margins compressing.
Mixed fundamental signals. Nine pass/fail tests of year-over-year health from the filings.
Operating margin has narrowed over the past few years, profitability per dollar of sales is eroding.
Efficiency-driven, thin margins turned over fast (the retail model). ROE 12% = margin × turnover × leverage.
Unless marked, from derived.
Against the whole market›
Percentile against every name Ryufin tracks. Higher is better; the tick marks the middle of the market. Context, not one of the checks above.
Where this answer is blind. The F-score rewards improvement, so an already-elite company can score mid-pack.
How good a business is CORT?
Corcept Therapeutics Incorporated earns 1.3% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
Return on invested capital · cost of capital 9.0% · 7.7 points below what the capital costs: growth destroys value
- Operating margin
- 0.77%
Operating margin · Biotechnology median −77% · 12 months to Q2 2026
- Share count, year on year
- −1.7%
Share count, year on year · bought back, each share owns more of the company
- R&D as % of revenue
- 31%
R&D as % of revenue
| Year | Operating margin |
|---|---|
| FY2020 | 36% |
| FY2021 | 34% |
| FY2022 | 28% |
| FY2023 | 22% |
| FY2024 | 20% |
| FY2025 | 5.9% |
Details›
- Gross margin12 months to Q2 2026
- 98%
- Operating margin12 months to Q2 2026
- 0.77%
- Net margin12 months to Q2 2026
- 6.6%
- Free cash flow margin
- 13%
- R&D as % of revenue
- 31%
- Revenue, trailing twelve months
- $831M
- Free cash flow, trailing twelve months
- $107M
- Net income, trailing twelve months
- $55M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- 1.3%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion is operating cash flow over operating profit after tax.