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Makes Afrezza inhaled insulin and manufactures Tyvaso DPI, an inhaled pulmonary hypertension drug, for United Therapeutics.
Makes Afrezza inhaled insulin and manufactures Tyvaso DPI, an inhaled pulmonary hypertension drug, for United Therapeutics.
Collects a royalty on United Therapeutics' sales of Tyvaso DPI and also manufactures the product for it, while selling Afrezza itself. Both rest on its Technosphere dry-powder inhalation technology, so the partner's sales and its own plant capacity matter.
Moat: narrow (IP / patents, process know-how). Proprietary Technosphere inhaled-powder platform is patent-protected and manufacturing-intensive to replicate.
Headquarters: Danbury, Connecticut, US · Founded: 1991 · Employees: 592
Size MannKind (MNKD) is a United States Health Care company (Pharmaceuticals: Major) with a market value of $1.25B, the 2114th largest of 3,117 United States companies the cockpit tracks. Shares closed at $3.90 on 6 Nov 2026.
Performance Over six months the shares gained 10.8%, against -13.1% for the median peer and -1.1% for the United States market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue grew 30.5% over the last twelve months (peer median +3.0%); the operating margin is 3.4% (peer median 2.8%).
Valuation It trades at 4.0× enterprise value to sales against a peer median of 4.5× (9th cheapest of 18).
Capital Return on invested capital runs 5.0 points below its cost of capital (9.1% WACC).
Short interest Short interest is 7.9% of the free float (15 Oct 2026).
Next results Next results expected around 25 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $394M | $349M | $286M | $199M | $99.8M |
| Revenue growth | — | +22% | +43% | +99% | — |
| Gross profit | $284M | $257M | $209M | $136M | $42.3M |
| EBITDA | $34.8M | $68.5M | $77.6M | $16.4M | -$62.6M |
| Net income | -$43.6M | $5.86M | $27.6M | -$11.9M | -$87.4M |
| Free cash flow | -$18.3M | $13.7M | $32.4M | -$8.54M | -$88.3M |
| Capital expenditure | $10.1M | $4.57M | $9.69M | $42.4M | $7.59M |
| Total debt | $436M | $473M | $157M | $382M | $388M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g |
|---|---|---|---|---|---|---|
| MannKind MNKD | $1.25B | +11% | +30% | 3% | 4.0× | n/a |
| Lilly (Eli) LLY | $1.27T | +43% | +46% | 51% | 15.2× | 5.9% |
| Novo Nordisk A/S NOVO-B.CO | $190B | -7% | +6% | 48% | 4.0× | 0.1% |
| United Therapeutics UTHR | $24.1B | -1% | +2% | 44% | 6.9× | -0.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MNKD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +14.0% | -6.2% | highest of 21 |
| 6-month return | +10.8% | -13.1% | 4th highest of 21 |
| Distance from 52-week high | -40.1% | -38.3% | 11th highest of 21 |
| Revenue growth (TTM) | +30.5% | +3.0% | 5th highest of 17 |
| Operating margin | 3.4% | 2.8% | 8th highest of 18 |
| EV / Sales | 4.0× | 4.5× | 9th cheapest of 18 |
| ROIC minus cost of capital | -5.0 pp | -4.6 pp | 10th highest of 19 |
| EV / EBITDA | 45.3× | 10.6× | most expensive of 4 |
| Net debt / EBITDA | 9.3× | 1.3× | most indebted of 5 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | EV / Sales | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| MannKind MNKD | United States | $1.25B | +11% | +30% | 3% | 4.0× | n/a | n/a |
| OliX Pharmaceuticals 226950.KS | South Korea | $1.26B | -57% | +81% | -305% | 111.4× | n/a | n/a |
| Celltrion Pharm 068760.KS | South Korea | $1.27B | -29% | +14% | 11% | 3.0× | 11.7% | +18.1% |
| Nektar Therapeutics NKTR | United States | $1.27B | -54% | -27% | -239% | 13.3× | n/a | n/a |
| GH Research GHRS | United States | $1.28B | -13% | n/a | n/a | n/a | n/a | n/a |
| D&D Pharmatech 347850.KS | South Korea | $1.28B | -49% | -71% | -1,368% | 617.6× | n/a | n/a |
| PYC Therapeutics PYC.AX | Australia | $1.28B | +31% | n/a | n/a | n/a | n/a | n/a |
| Omeros OMER | United States | $1.22B | +14% | n/a | -190% | 36.2× | n/a | n/a |
| Everest Medicines 1952.HK | Hong Kong | $1.22B | -20% | +193% | -5% | 3.5× | n/a | n/a |
| Avalyn Pharma AVLN | United States | $1.29B | +7% | n/a | n/a | n/a | n/a | n/a |
| Amphastar Pharmaceuticals AMPH | United States | $1.21B | +50% | +1% | 16% | 2.2× | 3.3% | +15.5% |
| Changzhou Qianhong Bio-Pharma 002550.SZ | China | $1.21B | -8% | -2% | 15% | 4.5× | 4.5% | -1.2% |
| Voronoi 310210.KS | South Korea | $1.31B | -66% | +24% | -1,947% | 417.6× | n/a | n/a |
| Sinopep-Allsino Bio Pharmaceutical 688076.SS | China | $1.31B | -7% | +14% | 19% | 5.0× | 4.0% | +27.9% |
| C.Q. Pharmaceutical 000950.SZ | China | $1.32B | -12% | -3% | 1% | 0.5× | n/a | n/a |
| Jiuzhitang 000989.SZ | China | $1.19B | -13% | +46% | 19% | 2.6× | -3.7% | -9.0% |
| InventisBio 688382.SS | China | $1.19B | -41% | -61% | -563% | 94.5× | 10.4% | -60.6% |
| Tianjin Chase Sun Pharmaceutical 300026.SZ | China | $1.32B | -6% | -29% | 3% | 2.0× | 8.5% | -5.3% |
| Hanall Biopharma 009420.KS | South Korea | $1.34B | -25% | +5% | 3% | 11.2× | n/a | n/a |
| Lotus Pharmaceutical 1795.TW | Taiwan | $1.34B | -26% | +49% | 24% | 3.4× | -2.4% | +13.8% |
| GC Biopharma 006280.KS | South Korea | $1.18B | +2% | -3% | 4% | 0.8× | 8.3% | +5.8% |