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Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Top 1 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Solve the discounted cash flow backwards, then stress-test the assumptions.
The same 3 years as the 3-yr average, with the stock compensation of those years charged as a cost. Shares issued to employees are real dilution, so this asks what the business generates for existing holders.
To be worth $0.95 today, the market must believe free cash flow compounds -48.5%/yr for a decade (off $22.1M on the SBC-adjusted basis).
On the basis ($42.4M) the requirement is off the scale. The difference is what charging stock compensation costs.
The market's -48.5% is more conservative than its 6-yr track record.
Default is 10.0% — this company's computed cost of capital (published default — this company's cost of capital could not be computed), the same rate the Analysis tab discounts at.
2-stage DCF · 0.01B shares (market data) · net debt $7.1M
Today's price is outside this grid at every discount rate shown — the assumptions it requires lie beyond the plotted range, which is itself the finding.
mean 32.3% · volatility σ 137% · implied rate exceeded in 5/6 yrs
Central path = implied -48.5%/yr growth; shaded band = ±1σ (137%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $18.0M buybacks = $18.0M returned on $50.5M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: 12%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
EOD close · as of 2026-10-30
Where each multiple sits in its own 10-yr range · 0th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-yr history.
Is the profit real, and how strong is the balance sheet?
FY2022 · every deduction from revenue to net income
DuPont — the three levers
ROE 15% against ROIC 12% — 3% of the return on equity comes from leverage and buybacks rather than from the operating business.
Equity is the year-end figure. On average equity over the two year-ends, ROE is 17.4% — the two diverge when buybacks or issuance move equity during the year.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 33.4× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2016 | FY2017 | FY2018 | FY2019 | FY2019 | FY2020 | FY2021 | FY2022 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 18.9 | 14.2 | 19.9 | — | 24.4 | 17.9 | 18.4 | 27.0 |
| Gross Profit | — | — | 71.0 | — | 68.9 | — | — | — |
| R&D | 14.9 | 13.8 | 20.8 | — | 18.8 | 16.4 | 29.9 | 10.8 |
| SG&A | 28.1 | 30.2 | 28.4 | — | 39.0 | 41.9 | 43.9 | 33.7 |
| Operating Income | 28.2 | 31.3 | 17.2 | — | 11.1 | 17.5 | 1.6 | 25.6 |
| Income Tax | -14.8 | 8.9 | 1.0 | — | 3.9 | 5.7 | 2.4 | 8.1 |
| Net Income | 43.0 | 21.9 | 15.0 | — | 7.3 | 6.4 | -5.0 | 11.3 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on EGRX: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $55.3M (at 2022-12-31) covers the $13.8M due within a year 4.0× over. Scheduled principal only (excludes interest & revolver draws). As of 2023-06-30 (10-Q/A). The cash figure is from 2022-12-31, so the two are not the same balance-sheet date — the schedule has not been refiled since.
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Interest is easily covered by operating profit. Effective rate ~6.5% on $62.5M of debt.
Cash of $55.3M fully covers short-term debt of $6.3M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2022
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2022 | FY2021 | FY2020 | FY2019 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $316.6M 100.0% | $171.5M 100.0% | $187.8M 100.0% | $195.9M 100.0% | — | $213.3M 100.0% | $236.7M 100.0% | $189.5M 100.0% | $66.2M 100.0% | $19.1M 100.0% |
| Cost of Revenue | $85.5M 27.0% | $31.5M 18.4% | $33.6M 17.9% | $47.9M 24.4% | — | $42.4M 19.9% | $33.7M 14.2% | $35.8M 18.9% | $15.6M 23.6% | $11.7M 61.3% |
| Cost of Products | — | — | — | — | — | — | $33.7M 14.2% | $35.8M 18.9% | $7.8M 11.7% | $5.0M 26.4% |
| Gross Profit | — | — | — | $135.0M 68.9% | — | $151.4M 71.0% | — | — | — | — |
| Research & Development | $34.1M 10.8% | $51.3M 29.9% | $30.8M 16.4% | $36.8M 18.8% | — | $44.4M 20.8% | $32.6M 13.8% | $28.3M 14.9% | $27.9M 42.1% | $16.8M 88.0% |
| Selling, General & Admin | $106.6M 33.7% | $75.3M 43.9% | $78.6M 41.9% | $76.4M 39.0% | — | $60.5M 28.4% | $71.4M 30.2% | $53.3M 28.1% | $20.2M 30.4% | $9.3M 48.8% |
| Total Operating Expenses | $235.7M 74.4% | $168.8M 98.4% | $154.8M 82.5% | $174.1M 88.9% | — | $176.7M 82.8% | $162.7M 68.7% | $136.1M 71.8% | $63.7M 96.1% | $37.9M 198.2% |
| Operating Income | $81.0M 25.6% | $2.8M 1.6% | $33.0M 17.5% | $21.8M 11.1% | — | $36.6M 17.2% | $74.0M 31.3% | $53.4M 28.2% | $2.6M 3.9% | -$18.8M -98.2% |
| Interest Expense | $4.0M 1.3% | $1.6M 1.0% | $2.6M 1.4% | $2.7M 1.4% | — | $2.7M 1.3% | $1.1M 0.5% | $8K 0.0% | $11K 0.0% | $8K 0.0% |
| Interest & Investment Income | $271K 0.1% | $560K 0.3% | $562K 0.3% | $2.2M 1.1% | — | $158K 0.1% | $91K 0.0% | $84K 0.0% | $25K 0.0% | $31K 0.2% |
| Other Income (Expense), net | -$19.5M -6.2% | -$7.3M -4.3% | -$10.3M -5.5% | $183K 0.1% | — | -$2.6M -1.2% | -$1.0M -0.4% | $76K 0.0% | $14K 0.0% | -$515K -2.7% |
| Pretax Income | $61.4M 19.4% | -$4.5M -2.7% | $22.7M 12.1% | $22.0M 11.2% | — | $34.0M 16.0% | $72.9M 30.8% | $53.4M 28.2% | $2.6M 3.9% | -$19.3M -100.9% |
| Income Tax Expense | $25.8M 8.1% | $4.1M 2.4% | $10.7M 5.7% | $7.7M 3.9% | — | $2.1M 1.0% | $21.0M 8.9% | -$28.0M -14.8% | $3K 0.0% | -$1.3M -6.8% |
| Net Income | $35.6M 11.3% | -$8.6M -5.0% | $12.0M 6.4% | $14.3M 7.3% | — | $31.9M 15.0% | $51.9M 21.9% | $81.5M 43.0% | $2.6M 3.9% | -$18.0M -94.1% |
| Per Share | ||||||||||
| EPS (Basic) | $2.76 | -$0.66 | $0.89 | $1.04 | — | $2.16 | $3.44 | $5.24 | $0.17 | -$1.97 |
| EPS (Diluted) | $2.73 | -$0.66 | $0.87 | $1.01 | — | $2.09 | $3.27 | $4.96 | $0.16 | -$1.97 |
| Weighted Avg Shares (Basic) | 12.9M | 13.1M | 13.5M | 13.8M | — | 14.8M | 15.1M | 15.5M | 15.3M | 10.0M |
| Weighted Avg Shares (Diluted) | 13.1M | 13.1M | 13.8M | 14.1M | — | 15.3M | 15.9M | 16.4M | 16.3M | 10.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Ranked against 16 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| AMRN | $509M | — | — | 2.4× | -6.5% | 56.6% | -18.2% | -8.4% | -8.4% | — | 9 |
| GYRE | $484M | 228.0× | 31.1× | 4.2× | 10.2% | 95.4% | 8.5% | 15.8% | 15.8% | -3.5× | 7 |
| SVA | $465M | — | — | 1.2× | 6.8% | 67.9% | -51.5% | -4.5% | -4.0% | — | 2 |
| CRMD | $447M | 2.8× | 2.0× | 1.4× | 617% | 88.5% | 52.3% | 40.2% | 40.2% | -1.0× | 24 |
| VREOF | $385M | — | 18.8× | 1.4× | 170% | 47.3% | -25.3% | -22.2% | -22.2% | -6.8× | — |
| EBS | $349M | 7.3× | 3.6× | 0.5× | -28.8% | 56.1% | 7.1% | 10.1% | 4.8% | 1.9× | 29 |
| QTTB | $265M | 3.7× | 12.6× | 4.9× | — | — | 55.5% | 71.0% | 71.0% | -2.8× | 3 |
| ELTP | $248M | 7.7× | 4.3× | 1.7× | 77.1% | 50.4% | 30.1% | 45.4% | 45.4% | -0.6× | — |
| SIGA | $218M | 9.5× | 2.6× | 2.3× | -31.8% | 68.6% | 24.6% | 11.7% | 11.7% | -6.4× | 25 |
| PYXS | $216M | — | — | 15.6× | -14.2% | 82.8% | -575% | -149% | -149% | — | 10 |
| NATR | $216M | 11.6× | 3.1× | 0.5× | 5.7% | 72.4% | 4.1% | 12.1% | 12.1% | -2.4× | 19 |
| AKBA | $196M | — | 2.4× | 0.8× | 47.5% | 83.3% | -2.3% | -16.4% | -6.6% | -5.5× | 27 |
| WHWK | $185M | — | — | 25.9× | -72.5% | 89.4% | -288% | -15.1% | -15.1% | — | 10 |
| MGNX | $153M | — | — | 1.0× | -0.3% | 100% | -49.9% | -134% | -134% | — | 18 |
| DERM | $146M | — | — | 2.4× | 10.2% | 66.2% | -18.5% | -35.9% | -20.0% | — | 4 |
| BGM | $127M | — | — | 3.4× | 51.1% | 16.6% | -52.6% | -5.1% | -5.1% | — | — |
| EGRX | $12M | 0.3× | 0.2× | 0.0× | 84.6% | 73.0% | 11.3% | 15.3% | 12.0% | 0.1× | 1 |
Peers = companies sharing EGRX's sector (Pharmaceutical Preparations) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
Earns 18.08pts above its cost of capital, but margins are compressing.
| Period | ROIC | Cost of capital | Spread |
|---|---|---|---|
| FY2017 | 44.3% | 1.9% (today's — no rate published for this year) | 42.4pts |
| FY2018 | 19.6% | 1.9% (today's — no rate published for this year) | 17.8pts |
| FY2019 | 13.2% | 1.9% (today's — no rate published for this year) | 11.3pts |
| FY2020 | 18.5% | 1.9% (today's — no rate published for this year) | 16.6pts |
| FY2021 | 1.4% | 5.2% | -3.8pts |
| FY2022 | 22.7% | 5.0% | 17.7pts |
| Now | 12.0% | 1.9% | 10.2pts |
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2014 | 38.7% | -98.2% | -94.1% |
| FY2015 | 76.4% | 3.9% | 3.9% |
| FY2016 | 81.1% | 28.2% | 43.0% |
| FY2017 | 85.8% | 31.3% | 21.9% |
| FY2018 | 71.0% | 17.2% | 15.0% |
| FY2019 | 68.9% | 11.1% | 7.3% |
| FY2020 | 82.1% | 17.5% | 6.4% |
| FY2021 | 81.6% | 1.6% | -5.0% |
| FY2022 | 73.0% | 25.6% | 11.3% |
Leverage and buybacks account for 3 points of the 15% return on equity in FY2022. The business earns 12% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
Margins have compressed 2 years running even as the spread stayed positive.
Converts 2.41x of reported profit into cash — adequate, without much margin.
Reported free cash flow is $51M; after share-based compensation it is $34M. The difference is a real cost that the cash flow statement adds back.
Debt is present but there is no positive EBITDA or no reported interest expense, so coverage cannot be measured.
This schedule comes from a filing dated 2023-06-30, 1220 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2023-06-30 (10-Q/A); cash from the 2022-12-31 balance sheet; FCF from FY2022.
Balance sheet at 2022-12-31. Undrawn revolving credit is not shown: the tag is collected but not yet mapped through to the API.
No material counter-signal in the checked set: net debt / EBITDA, interest coverage, stressed coverage, maturity schedule vs cash and one year of FCF, liquidity ratios.
Missing from our data, so excluded from this answer: interest_expense.
At $0.95, free cash flow must compound -44.68%/yr for 10 years. It has done -2.69%/yr over 5 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2018 | −15.1% | −44.7% |
| FY2019 | 0.1% | −44.7% |
| FY2020 | −27.8% | −44.7% |
| FY2021 | −65.2% | −44.7% |
| FY2022 | 308.5% | −44.7% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.
| Step | Amount | Running total |
|---|---|---|
| Net income | $36M | $36M |
| Share-based comp | $16M | $52M |
| Other non-cash & working capital | −$1M | $51M |
| Operating cash flow | $51M | $51M |
| Capex | −$178,000 | $51M |
| Free cash flow | $51M | $51M |
| FCF after SBC | $34M | $34M |
| Fiscal year | Revenue growth | Receivables growth | Gap |
|---|---|---|---|
| FY2018 | -9.9% | 23.5% | 33.4 points |
| FY2019 | not reported | -32.6% | not reported |
| FY2019 | not reported | 7.1% | not reported |
| FY2020 | -4.1% | 6.5% | 10.6 points |
| FY2021 | -8.7% | -19.5% | -10.8 points |
| FY2022 | 84.6% | 76.0% | -8.5 points |
| Fiscal year | DSO | DIO | DPO | Cash conversion cycle |
|---|---|---|---|---|
| FY2017 | 83 days | 55.4 days | 129.7 days | 8.7 days |
| FY2018 | 113.8 days | 71.5 days | 85.4 days | 99.9 days |
| FY2019 | not reported | not reported | not reported | not reported |
| FY2019 | 89.4 days | 50 days | 41.6 days | 97.9 days |
| FY2020 | 99.3 days | 87.6 days | 68 days | 118.9 days |
| FY2021 | 87.6 days | 253.6 days | 190.2 days | 151 days |
| FY2022 | 83.5 days | 204.1 days | 81.1 days | 206.5 days |
| Fiscal year | Accruals / assets |
|---|---|
| FY2017 | -2.6 percent |
| FY2018 | -8.6 percent |
| FY2019 | not reported |
| FY2019 | -16.4 percent |
| FY2020 | -14.8 percent |
| FY2021 | -14.5 percent |
| FY2022 | -3.7 percent |
Below the line, the asset base is being consumed faster than it is replaced.
Below the line for 4 consecutive years to the latest.
Depreciation here includes amortisation of acquired intangibles — goodwill written down over time, customer lists, acquired technology. Capex does not replace those and is not meant to, so an acquisitive or asset-light company sits below 1.0 permanently and correctly. The signal is cleanest for capital-intensive businesses, where the two measure the same physical base. For that reason this informs the earnings-quality verdict but never caps it.
SBC is added back inside operating cash flow, so reported free cash flow treats shares issued to employees as free. Percent of revenue says how expensive the payroll is; percent of operating cash flow says how much of the cash exists only because the charge was added back. The buyback offset is buybacks over SBC — below 1.0 the repurchase does not cover the shares issued.
Figures are the latest fiscal year (FY2022) from the company's own filings, not a trailing-twelve-month window — Q2 reads fiscal years throughout so the cash-conversion ratios and these share one basis. A blank is a line the filer did not report; it is never read as zero.