Halozyme Therapeutics (HALO) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Halozyme Therapeutics

NasdaqGS•Healthcare•Biotechnology

$107.20+0.20(<0.01%)Market closed

Market Cap

$13.19B

P/E

31.9x

P/S

7.9x

P/B

91.9x

Halozyme Therapeutics, Inc., a biopharmaceutical company, researches, develops, and commercializes of proprietary enzymes and devices in the United States, Switzerland, Belgium, Japan, and internationally. The company's products are based on the patented recombinant human hyaluronidase enzyme (rHuPH20) that enables delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. It offers Hylenex recombinant, a formulation of rHuPH20 that facilitates subcutaneous (SC) administration to enhance the dispersion and absorption of other injected drugs in SC urography and to enhance resorption of radiopaque agents; and XYOSTED, an injection for SC administration of testosterone replacement therapy. The company also provides Herceptin (trastuzumab) under the brand name Herceptin Hylecta; and Phesgo to treat breast cancer; Mabthera SC for chronic lymphocytic leukemia treatment; Tecentriq SC for IV infusion; Ocrevus SC for multiple sclerosis; HYQVIA to treat primary immunodeficiency disorders; DARZALEX to treat amyloidosis, and smoldering and multiple myeloma; epinephrine Injection to treat allergic reactions; nivolumab and relatlimab to treat metastatic or unresectable melanoma; teriparatide injections; ARGX-113; and ARGX-117 to treat severe autoimmune diseases in multifocal motor neuropathy. It has collaborations and licensing agreements with F. Hoffmann-La Roche, Ltd. and Hoffmann-La Roche, Inc.; Takeda Pharmaceuticals International AG and Baxalta US Inc.; Pfizer Inc.; Janssen Biotech, Inc.; AbbVie, Inc.; Eli Lilly and Company; Bristol Myers Squibb Company; argenx BVBA; ViiV Healthcare; Chugai Pharmaceutical Co., Ltd.; Acumen Pharmaceuticals, Inc.; Merus N.V.; and Skye Bioscience, Inc. The company was founded in 1998 and is headquartered in San Diego, California.

How this company scores

GoodMetricSide Score: 66/100

Strongest: Cash & Earnings Quality (25/25); weakest: Balance Sheet & Red Flags (5/25).

Profitability19/25

Growth17/25

Balance Sheet & Red Flags5/25

Cash & Earnings Quality25/25

Strengths

Growing revenueRising free cash flowStrong marginsHigh ROE

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 31.9x5y range 11.3x – 38.1x

Currently above its 20-quarter median.

P/S · 7.9x5y range 4.9x – 12.8x

Currently near its 20-quarter median.

P/B · 91.9x5y range 16.0x – 163.1x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

Operating margins dropped 35.1% over recent quarters — a sharp decline suggesting serious cost or pricing challenges.

Leverage Risk

Red Flag

D/E ratio is 13.5 — heavily leveraged and vulnerable to rising rates or cash flow dips.

Price & Volume

Market Cap $13.19B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.66B
Q. Revenue: $481.00M
TTM EBITDA: $611.84M
TTM Op. Income: $597.20M
Q. Op. Income: $287.65M
TTM Net Income: $413.60M
Q. Net Income: $229.91M
EPS: $1.96
Shares Out.: $117.27M

$1.66B in TTM revenue grew 41.2% YoY, reaching $481.00M last quarter. TTM EBITDA of $611.84M and TTM operating income of $597.20M show growth is flowing through to the bottom line. TTM net income of $413.60M means revenue is converting into profit. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 83.5%
EBITDA Margin: 60.7%
Op. Margin: 59.8%
Net Margin: 47.8%

Op. margin of 59.8% is down 2.3% YoY — costs are rising relative to revenue. Net margin at 47.8% and gross margin of 83.5% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has risen for 2 consecutive quarters — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: 31.9x
P/S Ratio: 7.9x
P/B Ratio: 91.9x

At 31.9x P/E, the stock trades above typical market levels — the market expects above-average growth. P/S of 7.9x and P/B of 91.9x provide additional context. Use the growth and margin sections to judge whether the multiple is justified. Over the past year, P/E is up 181% — a weakening trend.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $2.58B
Cash: $163.14M
Long-Term Debt: $1.94B
Book Value: $143.54M
D/E Ratio: 13.5
Debt/EBITDA: 6.6

With $2.58B in assets and $1.94B in long-term debt, D/E is 13.5and book value is $143.54M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 198% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $240.89M
TTM Free Cash Flow: $806.22M
FCF Margin: 48.5%
FCF / Net Income: 1.9

TTM FCF of $806.22M on $240.89M in operating cash flow. The FCF / Net Income ratio of 1.9x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has risen for 7 consecutive quarters — an improving trend.