Halozyme Therapeutics

HALO

Biotechnology · Healthcare

Price

$77.81

+0.27 (+0.35%)

Market Cap

$9.23B

Exchange

NASDAQ

Winston Score

Winston is happy

A high-quality business with solid fundamentals.

Share count falling — buybacks

−15.6% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 146.8M (2021) → 123.9M (2025)

Halozyme Therapeutics, Inc. operates as a biopharma technology platform company in the United States, Switzerland, Ireland, Belgium, Japan, and internationally. The company's products are based on the ENHANZE drug delivery technology, a patented recombinant human hyaluronidase enzyme (rHuPH20) that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. Its flagship product is Hylenex recombi

Winston Score History

Politician Trades

1 trades / 12mo

1 Congressional buy and 0 sells on HALO in the last 12 months.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+42.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+32.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$81M/ year

→ Flat (+3% vs prior year)

5.8% of revenue

Below sector average (18%)

Steady R&D investment year-over-year

Insider Activity

1.1%ownership

→ Flat

Insiders holding steady — not selling despite ability to

Cash Position

Cash flow positive

$310M cash & investments

Quarterly Free Cash Flow

↑ Burn rate improving

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Halozyme Therapeutics grew revenue 42% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Gross Margin

79.0%

Premium pricing power — 79.0% gross margin

Operating Margin

49.0%

Excellent — 49.0% operating margin

ROCE

43.1%

Exceptional — 43.1% return on capital

ROIC above 25%. Every dollar invested in the business earns more than 25 cents back per year.

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Growth

Sales YoY

+39.1%

Fast-growing sales (39.1% YoY)

EPS YoY

-24.2%

Earnings shrinking (-24.2% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

EPS Consistency

6/8 quarters

Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion

194%

Turns 194% of profit into real cash

FCF Margin

44.3%

Converts sales into free cash efficiently (44.3%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

Debt / Equity

0.95

Moderate — manageable debt (0.95)

Interest Cover

106.18x

Comfortably covers interest (106.2x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

P/E Ratio (TTM)

26.6x

Growth-priced — P/E 26.6

P/E above the market average. People are paying up for expected growth.

P/E vs Forward

+19.8

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (26.6 → 6.8)

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Dividends

Not applicable for this business.

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