← Royalty Pharma plc
| Annual Trend | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Other non-operating expenses, net | $1.5m | ($393k) | $32.8m | $5.7m | $14.8m | $21.7m | $1.5m | $14.3m | |
| Operating income | $1.4b | $2.6b | $1.6b | $1.4b | $307.1m | $1.5b | $1.3b | $1.6b | |
| Provision for changes in expected cash flows from financial royalty assets | ($57.3m) | ($1.0b) | $230.8m | $452.8m | $904.2m | $560.7m | $732.5m | ($295.8m) | |
| Provision for credit losses on unfunded commitments | — | — | — | — | — | $0 | $0 | $89.0m | |
| Equity in earnings of equity method investees | $7.0m | $32.5m | ($44.5m) | $19.5m | $9.0m | ($28.9m) | ($29.6m) | ($29.1m) | |
| Losses on derivative financial instruments | ($11.9m) | $39.1m | $42.1m | $21.5m | ($96.6m) | $2.3m | $6.0m | $0 | |
| Losses/(gains) on equity securities | $13.9m | ($155.7m) | ($247.1m) | $48.1m | $33.4m | ($87.1m) | ($39.5m) | $21.9m | |
| Gains on available for sale debt securities | — | $0 | ($18.6m) | ($17.9m) | $6.8m | ($230.8m) | ($154.9m) | ($45.9m) | |
| Interest income | ($24.4m) | ($22.3m) | ($28.4m) | ($53.5m) | ($78.3m) | ($72.3m) | ($47.3m) | ($33.6m) | |
| Total income and other revenues | $1.8b | $1.8b | $2.1b | $2.3b | $2.2b | $2.4b | $2.3b | $2.4b | |
| Consolidated net income before tax | $1.5b | $2.5b | $1.7b | $1.2b | $230.1m | $1.7b | $1.3b | $1.3b | |
| Consolidated net income | $1.5b | $2.5b | $1.7b | $1.2b | $230.1m | $1.7b | $1.3b | $1.3b | |
| Net income attributable to non-controlling interests | ($140.1m) | ($112.9m) | ($726.9m) | $621.5m | $187.2m | $565.3m | $471.8m | $553.2m | |
| Net income attributable to Royalty Pharma plc | $1.4b | $2.3b | $975.0m | $619.7m | $42.8m | $1.1b | $859.0m | $770.9m | |
| Basic (in dollars per share) | — | — | ($1.94) | $1.50 | $0.43 | $1.26 | $1.05 | $1.29 | |
| Diluted (in dollars per share) | — | — | ($1.94) | $1.50 | $0.43 | $0.94 | $0.79 | $0.98 | |
| Research and development funding expense | $392.6m | $83.0m | $26.3m | $200.1m | $177.1m | $52.0m | $2.0m | $452.0m | |
| General and administrative expenses (includes $290,890, $3,224, and $3,302 of share-based compensation expense for the years ended December 31, 2025, 2024 and 2023, respectively; see Note 4) | $61.9m | $103.4m | $181.7m | $182.8m | $227.3m | $249.7m | $236.7m | $573.5m | |
| Interest expense | $280.0m | $268.6m | $157.1m | $166.1m | $188.0m | $187.2m | $225.5m | $307.7m | |
| Income tax expense | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | |
| Total operating expense, net | $430.4m | ($808.9m) | $527.0m | $858.7m | $1.9b | $862.4m | $971.1m | $818.7m | |
| Total other expense/(income), net | ($153.4m) | $161.8m | ($106.6m) | $189.5m | $77.0m | ($207.9m) | ($38.4m) | $235.3m |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.