Is the business good?
How good a business is SRPT?
Sarepta Therapeutics, Inc. earns −1.9% on the capital it employs against a 9.0% cost of capital, so growth costs more than it returns.
−1.9%
Return on invested capital · cost of capital 9.0% · 11 points below what the capital costs: growth destroys value
- Operating margin
- −1.9%
Operating margin · Biotechnology median −72% · 12 months to Q1 2026
- Cash conversion
- 1.77×
Cash conversion · every dollar of reported profit arrived as cash, and more
- Share count, year on year
- +25%
Share count, year on year · shareholders own a smaller slice than a year ago
| Year | Operating margin |
|---|---|
| FY2020 | −104% |
| FY2021 | −66% |
| FY2022 | −57% |
| FY2023 | −22% |
| FY2024 | 11% |
| FY2025 | −32% |
Details›
- Operating margin12 months to Q1 2026
- −1.9%
- Net margin12 months to Q1 2026
- 3.0%
- Free cash flow margin
- 5.3%
- R&D as % of revenue
- 41%
- Revenue, trailing twelve months
- $2.18B
- Free cash flow, trailing twelve months
- $115M
- Net income, trailing twelve months
- $65M
- Return on invested capitaloperating profit after tax ÷ debt + equity − cash
- −1.9%
Margins, capital and share counts from the statements as filed with the SEC; cash conversion from the cash flow statement.