15 years of revenue, profit, cash flow and balance-sheet history through FY2025,
from SEC filings — with a computed, factual read of the trend.
Updated Overview →
Growth & profitability
Revenue has declined 2.7% per year over the past 5 years.
Operating margin has contracted, at -70.0% in the latest year.
Financial health
The company is unprofitable and has less than a year of cash runway at its current free-cash-flow burn.
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key annual figures
FY
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
2025
$216M
-$221M
0.0%
-70.0%
-$110M
—
$85M
2024
$199M
-$19M
0.0%
-20.5%
-$16M
—
$102M
2023
$193M
$3M
0.0%
-7.2%
$12M
—
$136M
2022
$254M
$6M
0.0%
2.5%
$31M
—
$135M
2021
$269M
$33M
0.0%
15.7%
$64M
—
$52M
2020
$248M
$23M
0.0%
11.0%
$50M
—
$61M
2019
$227M
$116M
0.0%
10.0%
$45M
—
$45M
2018
$193M
$25M
0.0%
11.3%
$30M
—
$61M
2017
$165M
-$16M
0.0%
-10.2%
-$4M
—
$34M
2016
$146M
-$18M
0.0%
-12.7%
—
—
$40M
2015
—
-$40M
—
—
—
—
$51M
2014
—
$20M
—
—
—
—
$61M
2013
—
-$21M
—
—
-$40M
—
$65M
2012
—
-$29M
—
—
-$47M
—
$89M
2011
—
-$10M
—
—
-$29M
—
$88M
Revenue & net income
RevenueNet income
Margins (gross / operating / net)
GrossOperatingNet
Free cash flow (CFO − capex, quarterly)
Free cash flow
Cash vs total debt
CashTotal debt
Cash flow: operating / investing / financing
OperatingInvestingFinancing
Key quarterly figures
Quarter
Revenue
Net income
Gross M
Op M
FCF
Total debt
Cash
Mar '26
$52M
-$49M
0.0%
-97.1%
-$50M
—
$54M
Dec '25
$57M
-$141M
0.0%
-70.5%
-$30M
—
$85M
Sep '25
$56M
-$23M
0.0%
-55.6%
-$32M
—
$70M
Jun '25
$53M
-$27M
0.0%
-73.2%
-$16M
—
$81M
Mar '25
$50M
-$29M
0.0%
-82.0%
-$34M
—
$112M
Dec '24
$53M
-$5M
0.0%
-19.3%
-$2M
—
$102M
Sep '24
$48M
-$5M
0.0%
-23.1%
-$15M
—
$100M
Jun '24
$50M
-$5M
0.0%
-20.1%
-$7M
—
$103M
Mar '24
$47M
-$4M
0.0%
-19.5%
$8M
—
$125M
Dec '23
$45M
-$2M
0.0%
-15.7%
-$4M
—
$136M
Sep '23
$39M
$137000
0.0%
-15.4%
-$2M
—
$183M
Jun '23
$46M
$2M
0.0%
-6.2%
-$13M
—
$150M
Mar '23
$62M
$3M
0.0%
3.2%
$32M
—
$354M
Dec '22
$64M
$7M
0.0%
10.3%
$9M
—
$135M
Sep '22
$65M
$3M
0.0%
6.0%
$13M
—
$49M
Jun '22
$64M
$3M
0.0%
5.4%
$5M
—
$58M
Mar '22
$60M
-$6M
0.0%
-12.7%
$4M
—
$67M
Dec '21
$68M
$7M
0.0%
12.7%
$26M
—
$52M
Sep '21
$70M
$8M
0.0%
15.4%
$9M
—
$51M
Jun '21
$68M
$10M
0.0%
18.2%
$19M
—
$57M
Valuation over time
How the market has priced VNDA against its own fundamentals since 2023-03 —
each month-end's share price set against the most recent annual filing, so the multiple moves
as price runs ahead of (or behind) earnings. Split-adjusted.
The price-to-earnings ratio has risen from 64.8× (Mar '23) to 123.9× (Nov '24).
The price-to-sales ratio has risen from 1.6× (Mar '23) to 1.6× (Jun '26).
Price / earnings (P/E)
P/E
Price / sales (P/S)
P/S
Frequently asked questions
Is VNDA growing its revenue and profit?
Over the past 5 years, Vanda Pharmaceuticals Inc.'s revenue has declined 2.7% per year. These are computed facts, not advice.
How much debt does VNDA have?
As of FY2025, Vanda Pharmaceuticals Inc. reported — of total debt against $85M of cash.
What is VNDA's profit margin?
In FY2025, gross margin was —, operating margin -70.0%, and net margin -102.0%.
What is VNDA's P/E ratio?
As of Jun '26, Vanda Pharmaceuticals Inc. traded at a price-to-earnings ratio of about 123.9× (market cap ÷ latest annual net income). The valuation charts above show how its P/E, P/S have moved with the share price. These are computed facts, not advice.
Where does this data come from?
All figures are extracted from the company’s SEC EDGAR/XBRL filings — 10-K annual reports and 10-Q quarterly reports (use the Annual / Quarterly toggle). Quarterly figures are derived from the as-filed statements (year-to-date amounts are differenced into discrete quarters). Growth rates and ratios are computed by tradmap; nothing here is investment advice.
Source: SEC EDGAR / XBRL (10-K + 10-Q filings) · prices EOD (Databento), corporate-action-adjusted ·
growth rates, valuation multiples & ratios computed by tradmap. Valuation uses each month-end price
against the latest annual filing. Informational only — not investment advice.