CompanyGraph
What stands out
- Earnings significantly exceed cash generation
- Most companies in its industry are production businesses; this one is a risk business
At a glance
- Depends onUpstream position: supplies 6 industries, depends on 3
- ScaleMarket cap is $1.6B, above the global median of $1.15B
- PositionOperating margin is 40.1%, higher than 95% of its Biotechnology peers (median -23.8%)
- Interpretations7 currently firing — 7
What this company is and how it runs — written from structure, not news.
What stands out
- Most companies in its industry are production businesses; this one is a risk business
Sign in to view price data.
Sign inThe reported statements, read against the company's own industry.
What stands out
- Earnings significantly exceed cash generation
Financials view
Market Capitalization
1.60BUSDvs all stocks (USD)
Trailing P/E
3.55xvs Biotechnology peers
Revenue (TTM)
420.69MUSDvs all stocks (USD)
Profit Margin
119.88%vs Biotechnology peers
Beta
0.3440xvs all stocks
52-Week Change
11.33%vs all stocks
Market Capitalization
1.60BUSDvs all stocks (USD)
Enterprise Value
1.34BUSDvs all stocks (USD)
Trailing P/E
3.55xvs Biotechnology peers
Forward P/E
10.05xvs Biotechnology peers
PEG Ratio
-0.0081xvs Biotechnology peers
Price to Sales (TTM)
3.90xvs Biotechnology peers
Price to Book (MRQ)
1.22xvs Biotechnology peers
Enterprise to Revenue
3.17xvs Biotechnology peers
Enterprise to EBITDA
6.93xvs Biotechnology peers
Gross Margin
84.07%vs Biotechnology peers
Profit Margin
119.88%vs Biotechnology peers
Operating Margin
40.11%vs Biotechnology peers
Return on Assets (TTM)
6.72%vs Biotechnology peers
Return on Equity (TTM)
50.72%vs Biotechnology peers
Revenue (TTM)
420.69MUSDvs all stocks (USD)
Revenue per Share (TTM)
5.99USDUpdated Jul 19, 2026Quarterly Revenue Growth
10.60%vs Biotechnology peers
Gross Profit (TTM)
311.74MUSDvs all stocks (USD)
EBITDA (TTM)
524.76MUSDvs all stocks (USD)
Net Income (TTM)
504.34MUSDvs all stocks (USD)
Quarterly Earnings Growth (YoY)
10.56%vs Biotechnology peers
Operating Cash Flow (TTM)
183.60MUSDvs all stocks (USD)
Levered Free Cash Flow (TTM)
105.17MUSDvs all stocks (USD)
Payout Ratio
0.00%vs Biotechnology peers
Revenue
411.33MUSDFY2025 · Dec 31, 2025Cost of Goods Sold
77.38MUSDFY2025 · Dec 31, 2025Gross Profit
333.94MUSDFY2025 · Dec 31, 2025Operating Income
163.75MUSDvs all stocks (USD)
Pre-tax Income
326.86MUSDFY2025 · Dec 31, 2025Income Tax Expense
55.70MUSDFY2025 · Dec 31, 2025Net Income
271.17MUSDFY2025 · Dec 31, 2025EBIT
343.56MUSDFY2025 · Dec 31, 2025EBITDA (Income Statement)
349.68MUSDFY2025 · Dec 31, 2025Research & Development
30.60MUSDFY2025 · Dec 31, 2025Selling, General & Administrative
113.32MUSDFY2025 · Dec 31, 2025Non-operating Interest Income
21.09MUSDFY2025 · Dec 31, 2025Non-operating Interest Expense
16.70MUSDFY2025 · Dec 31, 2025EPS (Basic)
4.02USDFY2025 · Dec 31, 2025EPS (Diluted)
3.30USDFY2025 · Dec 31, 2025Basic Shares Outstanding
67.39MSharesFY2025 · Dec 31, 2025Diluted Shares Outstanding
67.39MSharesFY2025 · Dec 31, 2025Net Income from Continuing Operations
271.17MUSDFY2025 · Dec 31, 2025Operating Cash Flow
358.35MUSDFY2025 · Dec 31, 2025Free Cash Flow
357.23MUSDDerived from operating cash flow minus capital expenditure. This filing charges 26.28M of depreciation against 1.12M of capital expenditure, and its own free-cash-flow line reads 186.43M.FY2025 · Dec 31, 2025Cash & Cash Equivalents (End of Period)
550.94MUSDFY2025 · Dec 31, 2025Income Tax Paid
19.11MUSDFY2025 · Dec 31, 2025Interest Paid
10.35MUSDFY2025 · Dec 31, 2025Starting Profit (CF Statement)
271.17MUSDFY2025 · Dec 31, 2025Depreciation & Amortization
26.28MUSDFY2025 · Dec 31, 2025Deferred Taxes (CF)
43.85MUSDFY2025 · Dec 31, 2025Stock-based Compensation
9.45MUSDFY2025 · Dec 31, 2025Other Non-cash Items
22.58MUSDFY2025 · Dec 31, 2025Change in Accounts Receivable (CF)
-6.95MUSDFY2025 · Dec 31, 2025Change in Accounts Payable (CF)
2.83MUSDFY2025 · Dec 31, 2025Change in Other Assets/Liabilities
-10.85MUSDFY2025 · Dec 31, 2025Capital Expenditures
-1.12MUSDFY2025 · Dec 31, 2025Net Intangibles (CF)
-9.37MUSDFY2025 · Dec 31, 2025Net Acquisitions
28.16MUSDFY2025 · Dec 31, 2025Purchase of Investments
-78.40MUSDFY2025 · Dec 31, 2025Sale of Investments
101.22MUSDFY2025 · Dec 31, 2025Net Investing Cash Flow
49.86MUSDFY2025 · Dec 31, 2025Long-term Debt Payments
0.00USDFY2025 · Dec 31, 2025Net Short-term Debt Issuance
0.00USDFY2025 · Dec 31, 2025Common Stock Repurchase
-4.67MUSDFY2025 · Dec 31, 2025Other Financing Charges
-25.00KUSDFY2025 · Dec 31, 2025Net Financing Cash Flow
-2.15MUSDFY2025 · Dec 31, 2025Shares Outstanding
73.81MSharesUpdated Jul 19, 2026Float Shares
69.20MSharesUpdated Jul 19, 2026Shares Short
6.65MSharesUpdated Jul 19, 2026Short Ratio
7.09daysvs all stocks
Short % of Shares Outstanding
12.13%vs all stocks
% Held by Insiders
0.99%vs all stocks
% Held by Institutions
107.92%vs all stocks
Total Cash (MRQ)
611.93MUSDvs all stocks (USD)
Total Cash per Share (MRQ)
8.29USDUpdated Jul 19, 2026Total Debt (MRQ)
331.42MUSDvs all stocks (USD)
Total Debt to Equity (MRQ)
0.2470xvs Biotechnology peers
Current Ratio (MRQ)
21.13xvs Biotechnology peers
Book Value per Share (MRQ)
18.18USDUpdated Jul 19, 2026Total Assets
1.64BUSDvs all stocks (USD)
Total Current Assets
727.51MUSDFY2025 · Dec 31, 2025Total Liabilities
462.32MUSDFY2025 · Dec 31, 2025Total Non-current Assets
907.65MUSDFY2025 · Dec 31, 2025Total Non-current Liabilities
412.63MUSDFY2025 · Dec 31, 2025Total Current Liabilities
49.70MUSDFY2025 · Dec 31, 2025Cash & Cash Equivalents
550.94MUSDFY2025 · Dec 31, 2025Other Short-term Investments
15.73MUSDFY2025 · Dec 31, 2025Accounts Receivable
34.97MUSDFY2025 · Dec 31, 2025Inventory
39.17MUSDFY2025 · Dec 31, 2025Accounts Payable
4.97MUSDFY2025 · Dec 31, 2025Short-term Debt
418.00KUSDFY2025 · Dec 31, 2025Deferred Revenue
12.39MUSDFY2025 · Dec 31, 2025Other Current Liabilities
-4.27MUSDFY2025 · Dec 31, 2025Long-term Debt
268.60MUSDFY2025 · Dec 31, 2025Other Non-current Liabilities
1.12MUSDFY2025 · Dec 31, 2025Common Stock (Book)
747.00KUSDFY2025 · Dec 31, 2025Retained Earnings
269.37MUSDFY2025 · Dec 31, 2025Total Shareholders' Equity
1.17BUSDvs all stocks (USD)
52-Week Low
16.52USDUpdated Jul 19, 202652-Week High
25.15USDUpdated Jul 19, 202652-Week Change
11.33%vs all stocks
Beta
0.3440xvs all stocks
50-Day MA
22.43USDUpdated Jul 19, 2026200-Day MA
21.30USDUpdated Jul 19, 2026Avg 10-Day Volume
873.25KSharesUpdated Jul 19, 2026Avg 30-Day Volume
876.72KSharesUpdated Jul 19, 2026Diluted EPS (TTM)
6.26USDUpdated Jul 19, 2026Other Income / Expense
158.73MUSDFY2025 · Dec 31, 20257 interpretations currently present — each is a set of fired observations whose alignment reads as one structural pattern. Click an observation to see the numbers behind it.
Screen for these patternsIs this company financially stable?
MRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total Liabilities
Cash covers most of its debt, with earnings high against its liabilities.
Reads
How does this company use capital?
Cash-Flow Ratios Elevated
More of its sales turn into cash than in its industry, and less of that cash is consumed by reinvestment than at most of its peers.
Reads
FCF Ratios Elevated
Its free cash flow is large next to assets and equity, and more of its operating cash reaches it than in its industry.
Reads
Three Margin Ratios Elevated Across Gross, Operating, And Cash-Conversion Levels
Its gross margin and its cash margin are high for its industry, and its operating margin is high outright.
Reads
Industry-Benchmarked ROA and Margin Elevated
Returns and margins have sat in the top of its industry across five years.
Reads
Three Margin Ratios Elevated Across Gross, Operating, And Net Levels
Its gross and net margins are high for its industry, and its operating margin is high outright.
Reads
How is this stock valued?
Down-Close Streak With Profitability
A run of down weeks on a company profitable three years running and funded by equity.
Reads
An interpretation is present only while every observation it reads stays fired (score ≥ 70). It describes what the aligned readings show — never a verdict, never a prediction.
Shared structure with peers — never a ranking.
Relationships view
Structural observations derived from financial data, industry benchmarks, and supply chain position.
Peer Positioning
Operating margin is 40.1%, higher than 95% of its Biotechnology peers (median -23.8%)Significant
Operating margin: 0.40Industry median: -0.24Industry P95: 0.38Peers compared: 197
Profit margin is 119.9%, higher than 95% of its Biotechnology peers (median -34%)Significant
Profit margin: 1.20Industry median: -0.34Industry P95: 0.37Peers compared: 197
Return on equity is 50.7%, higher than 95% of its Biotechnology peers (median -24.5%)Significant
Return on equity: 0.51Industry median: -0.25Industry P95: 0.23Peers compared: 197
P/E ratio is 3.55×, lower than 95% of its Biotechnology peers (median 40×)Notable
P/E ratio: 3.55Industry median: 40.00Industry P5: 12.48Peers compared: 197
Price-to-book is 1.22×, lower than 95% of its Biotechnology peers (median 5.36×)Notable
Price-to-book: 1.22Industry median: 5.36Industry P5: 1.40Peers compared: 197
Structural Tensions
Earnings significantly exceed cash generationSignificant
Net Income (USD, TTM): 504,344,000Operating Cash Flow (USD, TTM): 183,595,008
Most companies in its industry are production businesses; this one is a risk businessSignificant
Industry peers: 502Share on the common pattern %: 98.00
Financial Health
Altman Z-Score 3.75: safe zoneNotable
Altman Z-Score: 3.75
High earnings qualityNotable
Earnings Quality Score: 0.85
Supply Chain
Upstream position: supplies 6 industries, depends on 3Notable
Outgoing: 6.00Incoming: 3.00
Scale
Market cap is $1.6B, above the global median of $1.15BNotable
Market cap (USD): 1,602,387,940Global Median: 1,146,734,693.424
Levered free cash flow is $105.17M, above the global median of $16.24MNotable
Levered free cash flow (USD): 105,171,624Global Median: 16,239,329.704
Companies that share the same coordination system — how they create, deliver, or capture value.
Twenty One Capital, Inc. - Class A
Tier 1RiskApproval-Gated PipelineFlowInterface
CrowdGather, Inc.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Longview Acquisition Corp. II
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Drugs Made In America Acquisition II Corp.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Dragoneer Growth Opportunities Corp
Tier 1RiskApproval-Gated PipelineInterfaceFlow
EQV Ventures Acquisition Corp.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Voyager Acquisition Corp.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
TPG Pace Tech Opportunities Corp.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Factorial Energy Inc.
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Apex Treasury Corporation
Tier 1RiskApproval-Gated PipelineInterfaceFlow
Companies that share active interpretations — structural patterns currently present in both stocks.
IG Group Holdings Plc
7 interpretationsThree Margin Ratios Elevated Across Gross, Operating, And Cash-Conversion LevelsMRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total LiabilitiesFCF Ratios ElevatedCash-Flow Ratios ElevatedDown-Close Streak With ProfitabilityIndustry-Benchmarked ROA and Margin ElevatedThree Margin Ratios Elevated Across Gross, Operating, And Net Levels
HPSP Co., Ltd.
7 interpretationsThree Margin Ratios Elevated Across Gross, Operating, And Cash-Conversion LevelsMRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total LiabilitiesFCF Ratios ElevatedCash-Flow Ratios ElevatedDown-Close Streak With ProfitabilityIndustry-Benchmarked ROA and Margin ElevatedThree Margin Ratios Elevated Across Gross, Operating, And Net Levels
Games Workshop Group PLC
7 interpretationsThree Margin Ratios Elevated Across Gross, Operating, And Cash-Conversion LevelsMRQ Cash Elevated Relative To Total Debt With EBITDA And FCF Elevated Relative To Total LiabilitiesFCF Ratios ElevatedCash-Flow Ratios ElevatedDown-Close Streak With ProfitabilityIndustry-Benchmarked ROA and Margin ElevatedThree Margin Ratios Elevated Across Gross, Operating, And Net Levels