RARE
$14.54-4.15%
Ultragenyx Pharmaceutical Inc.Stock · HealthcareRussell 2000 0.1%Nasdaq Composite 0.007%US Stock Market 0.004%Russell 3000 0.004%
RARE financial statements
The full income statement, balance sheet, and cash-flow statement for Ultragenyx Pharmaceutical Inc. (RARE), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 92.2M2024-09 92.3M2024-12 92.5M2025-03 94.5M2025-06 96.4M2025-09 96.5M2025-12 96.6M2026-03 98.5M2026-06 98.6M+7.0% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 673M+20.2% | 560M+29.0% | 434M+19.5% | 363M+3.4% | 351M+29.7% | |
| Research & development | 750M+7.4% | 698M+7.7% | 648M-8.2% | 706M+42.0% | 497M+20.6% | |
| Selling, general & administrative | 349M+8.7% | 321M+3.5% | 310M+11.5% | 278M+26.4% | 220M+20.3% | |
| Operating income | -535M+0.2% | -536M+5.8% | -569M+12.3% | -649M-70.0% | -382M-15.6% | |
| Interest & investment income | 25.0M-32.4% | 37.0M+37.0% | 27.0M+143.8% | 11.1M+474.4% | 1.93M-72.6% | |
| Other non-operating income | 1.00M+120.0% | -5.00M-400.0% | -1.00M+36.1% | -1.57M+7.2% | -1.69M-377.9% | |
| Gain (loss) on equity securities | — | -1.11M-380.9% | 397K+102.1% | -19.3M+54.1% | -42.1M-124.7% | |
| Pre-tax income | -571M-0.7% | -567M+6.9% | -609M+13.2% | -702M-54.9% | -453M-144.4% | |
| Income tax | 4.00M+100.0% | 2.00M+200.0% | -2.00M-135.1% | 5.70M+445.6% | 1.04M-13.5% | |
| Net income | -575M-1.1% | -569M+6.3% | -607M+14.2% | -707M-55.8% | -454M-143.4% | |
| -$5.83+7.3% | -$6.29+23.8% | -$8.25+18.5% | -$10.12-51.0% | -$6.70-118.2% | ||
| EPS (basic) | -$5.83+7.3% | -$6.29+23.8% | -$8.25+18.5% | -$10.12-51.0% | -$6.70-118.2% | |
| Weighted-avg shares (basic) | 98.6M+9.0% | 90.5M+23.1% | 73.5M+5.1% | 69.9M+3.1% | 67.8M+11.4% | |
| Weighted-avg shares (diluted) | 98.6M+9.0% | 90.5M+23.1% | 73.5M+5.1% | 69.9M+3.1% | 67.8M+11.4% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 951M+16.4% | 817M+11.6% | 732M-17.2% | 884M+3.2% | 857M-33.9% | ||
| Cash & equivalents | 421M+142.0% | 174M-18.7% | 214M+61.0% | 133M-56.8% | 308M-56.9% | |
| Accounts receivable | 158M+29.5% | 122M+66.2% | 73.4M+81.5% | 40.4M+42.3% | 28.4M+23.1% | |
| Inventory | 52.0M+15.6% | 45.0M+32.5% | 34.0M+26.9% | 26.8M+64.9% | 16.2M+24.4% | |
| Prepaid expenses | 61.0M+52.5% | 40.0M-16.0% | 47.6M-30.9% | 68.9M-3.9% | 71.7M+24.5% | |
| Other current assets | — | — | 47.6M-30.9% | 68.9M | — | |
| 1.53B+1.9% | 1.50B+0.8% | 1.49B-3.5% | 1.55B+1.5% | 1.52B-13.5% | ||
| Property, plant & equipment | 244M-8.3% | 266M-8.5% | 291M+11.9% | 260M+83.9% | 141M+92.1% | |
| Operating lease right-of-use | 23.0M-11.5% | 26.0M+8.8% | 23.9M-8.1% | 26.0M-25.6% | 34.9M-13.8% | |
| Goodwill | 44.0M+0.0% | 44.0M-0.9% | 44.4M+0.0% | 44.4M+0.0% | 44.4M+0.0% | |
| Intangible assets | 176M-1.1% | 178M+7.1% | 166M+3.9% | 160M+22.4% | 131M-0.2% | |
| Other non-current assets | 60.0M-4.8% | 63.0M+9.2% | 57.7M+19.3% | 48.3M+135.1% | 20.6M+133.3% | |
| 384M+11.6% | 344M+22.7% | 280M+7.4% | 261M+44.0% | 181M-4.3% | ||
| Accounts payable | 31.0M-20.5% | 39.0M-7.4% | 42.1M-2.7% | 43.3M+152.5% | 17.1M+32.6% | |
| Accrued liabilities | 265M+10.0% | 241M+22.7% | 196M-4.0% | 205M+40.6% | 146M+34.2% | |
| Deferred revenue | — | — | — | — | 9.08M-86.4% | |
| Current lease liability | 12.0M+20.0% | 10.0M-20.6% | 12.6M+8.6% | 11.6M+10.5% | 10.5M+23.3% | |
| Other current liabilities | 19.0M+375.0% | 4.00M | 0.00 | — | — | |
| Finance lease liability (current) | — | — | — | 183K-67.8% | 568K+23.5% | |
| 1.60B+29.3% | 1.24B+2.1% | 1.22B+1.9% | 1.19B+98.9% | 600M-0.9% | ||
| Non-current lease liability | 24.0M-20.0% | 30.0M-1.9% | 30.6M+54.3% | 19.8M-35.0% | 30.5M-20.9% | |
| Operating lease liability (total) | 36.0M-10.8% | 40.3M-6.6% | 43.2M+37.4% | 31.4M-23.4% | 41.0M-12.9% | |
| Finance lease liability (total) | — | — | — | 183K-81.3% | 978K-15.8% | |
| Finance lease liability | — | — | — | 0.00-100.0% | 410K-41.5% | |
| Deferred tax liabilities | 30.0M+0.0% | 30.0M-0.2% | 30.1M-5.1% | 31.7M-4.9% | 33.3M+0.0% | |
| Other non-current liabilities | 44.0M+158.8% | 17.0M+39.3% | 12.2M+153.2% | 4.82M+379.6% | 1.00M-86.3% | |
| -80.0M-131.4% | 255M-7.3% | 275M-21.9% | 352M-61.8% | 923M-20.1% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 0.00 | 0.00-100.0% | 82.0K+17.1% | 70.0K+1.4% | 69.0K+3.0% | |
| Additional paid-in capital | 4.45B+5.6% | 4.21B+15.0% | 3.66B+16.6% | 3.14B+4.8% | 3.00B+8.1% | |
| Retained earnings | -4.53B-14.5% | -3.96B-16.8% | -3.39B-21.8% | -2.78B-34.1% | -2.07B-28.0% | |
| Treasury stock | 8.00M+100.0% | 4.00M+825.9% | 432K | 0.00 | — | |
| Accumulated other comprehensive income | 1.00M+200.0% | -1.00M-254.6% | 647K+109.8% | -6.57M-368.2% | -1.40M-303.8% | |
| Total liabilities & equity | 1.53B+1.9% | 1.50B+0.8% | 1.49B-3.5% | 1.55B+1.5% | 1.52B-13.5% | |
| Common shares issued | — | — | — | 70.2M+1.2% | 69.3M+3.8% | |
| Common shares outstanding | 96.6M+4.4% | 92.5M+12.4% | 82.3M+17.3% | 70.2M+1.2% | 69.3M+3.8% | |
| Shares outstanding (cover) | 96.6M+4.5% | 92.5M+12.3% | 82.3M+17.3% | 70.2M+1.2% | 69.4M+3.6% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| -466M-12.6% | -414M+12.8% | -475M-24.8% | -380M-12.3% | -339M-156.2% | ||
| Depreciation & amortization | 35.0M-2.8% | 36.0M+38.5% | 26.0M+42.7% | 18.2M+37.6% | 13.2M+8.0% | |
| Deferred income taxes | — | -1.00M+50.0% | -2.00M-222.0% | 1.64M | — | |
| Change in receivables | 31.0M-8.8% | 34.0M+47.8% | 23.0M+90.6% | 12.1M+122.2% | 5.43M+155.2% | |
| Change in inventory | 6.00M-45.5% | 11.0M+57.1% | 7.00M-27.8% | 9.70M+211.2% | 3.12M+131.6% | |
| 236M+1411.1% | -18.0M-110.7% | 168M+157.6% | -292M-49.3% | -195M-9.1% | ||
| Capital expenditure | 6.00M-14.3% | 7.00M-84.1% | 44.0M-62.1% | 116M+58.9% | 73.1M+66.5% | |
| Free cash flow | -472M-12.1% | -421M+18.9% | -519M-4.5% | -497M-20.6% | -412M-133.8% | |
| Acquisitions | 0.00 | 0.00 | 0.00-100.0% | 75.0M | 0.00 | |
| Sales/maturities of investments | 444M+8.3% | 410M-41.1% | 696M+54.4% | 451M-37.2% | 718M+21.8% | |
| Other investing activities | 1.00M-50.0% | 2.00M-66.7% | 6.00M+610.9% | 844K-10.4% | 942K-83.0% | |
| 478M+19.8% | 399M+2.8% | 388M-22.6% | 501M+322.8% | 119M-80.3% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00-100.0% | |
| Common stock repurchased | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Other financing activities | 0.00 | 0.00-100.0% | 1.00M+280.2% | -555K-12.8% | -492K-108.5% | |
| Net change in cash | 252M+820.0% | -35.0M-143.2% | 81.0M+147.1% | -172M+58.7% | -417M-243.7% | |
| Income taxes paid | 4.00M | — | — | — | — | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 2.22B-42.9% | 3.89B-0.9% | 3.93B+20.9% | 3.25B-44.3% | 5.83B-37.0% | |
| P/S | 3.3×-52.5% | 6.9×-27.4% | 9.6×+1.2% | 9.5×-43.0% | 16.6×-51.4% | |
| P/B | — | 15.3×-87.7% | 123.8×+1687.2% | 6.9×+9.5% | 6.3×-21.2% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: RARE’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all RARE filings on SEC EDGAR → Not investment advice.