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Size Pharming (PHARM.AS) is a Netherlands Health Care company (Pharmaceuticals: Major) with a market value of $874M, the 50th largest of 61 Netherlands companies the cockpit tracks. Shares closed at €1.10 on 6 Nov 2026.
Performance Over six months the shares fell 2.3%, against -14.9% for the median peer and +0.4% for the Netherlands market (cap-weighted) — 4th highest of 20 in its peer set.
Growth Revenue grew 1.7% over the last twelve months (peer median +1.9%); the operating margin is 8.9% (peer median 2.5%).
Valuation It trades at 41.4× forward earnings against a peer median of 24.5× (most expensive of 8).
Price implies For today's price to make sense, revenue must grow about 2% a year for seven years (Req g). Recent delivered growth is +12%, so the hurdle is -10 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 6.6 points above its cost of capital (5.0% WACC).
Credit Pharming has 1 bond outstanding ($111M).
Next results Next results expected around 18 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €333M | €333M | €275M | €227M | €196M |
| Revenue growth | — | +21% | +21% | +16% | — |
| Gross profit | €276M | €283M | €232M | €193M | €175M |
| EBITDA | €40.1M | €28.0M | €6.82M | -€10.2M | €12.0M |
| Net income | €20.9M | €2.53M | -€10.9M | -€9.76M | €13.0M |
| Free cash flow | €23.7M | €43.3M | -€6.49M | -€20.9M | €16.0M |
| Capital expenditure | €751,596 | €668,983 | €735,885 | €1.35M | €1.88M |
| Total debt | €101M | €98.6M | €108M | €155M | €156M |
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.
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 | PHARM.AS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +30.4% | -7.4% | highest of 21 |
| 6-month return | -2.3% | -14.9% | 4th highest of 20 |
| Distance from 52-week high | -39.4% | -36.0% | 10th lowest of 21 |
| Revenue growth (TTM) | +1.7% | +1.9% | 9th lowest of 18 |
| Operating margin | 8.9% | 2.5% | 9th highest of 18 |
| Forward P/E | 41.4× | 24.5× | most expensive of 8 |
| Growth the price implies (Req g, 7 yrs) | 2.5% | 4.8% | 4th least demanding of 8 |
| Growth delivered (Del g) | +12.4% | +2.6% | 4th highest of 8 |
| Hurdle (Req g minus delivered) | -9.9 pp | -5.6 pp | 4th least demanding of 8 |
| ROIC minus cost of capital | +6.6 pp | -2.3 pp | 4th highest of 18 |
| EV / EBITDA | 17.8× | 13.7× | 4th cheapest of 7 |
| Net debt / EBITDA | -1.6× | 0.8× | 2nd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Pharming PHARM.AS | Netherlands | $874M | -2% | +2% | 9% | 41.4× | 2.5% | +12.4% |
| Daewoong Pharm 069620.KS | South Korea | $874M | -30% | +9% | 12% | 5.8× | n/a | n/a |
| Aktis Oncology AKTS | United States | $880M | -15% | +337% | -1,150% | n/a | n/a | n/a |
| Corvus Pharmaceuticals CRVS | United States | $887M | -32% | n/a | n/a | n/a | n/a | n/a |
| Hygeia Healthcare 6078.HK | Hong Kong | $861M | -7% | +2% | 14% | 11.0× | 4.8% | +22.5% |
| Aarti Pharmalabs AARTIPHARM.NS | India | $892M | +19% | +13% | 18% | n/a | n/a | n/a |
| Zhejiang Ausun Pharmaceutical 603229.SS | China | $893M | -27% | +1% | 0% | n/a | n/a | n/a |
| Beijing Sun-Novo Pharmaceutical Research 688621.SS | China | $894M | -8% | -1% | -2% | 30.6× | n/a | n/a |
| Kaken Pharmaceutical 4521.T | Japan | $854M | -8% | -7% | 11% | 24.5× | n/a | n/a |
| Guizhou Bailing Group Pharmaceutical 002424.SZ | China | $907M | -12% | -25% | 2% | n/a | 16.2% | -0.2% |
| Wanbangde Pharmaceutical 002082.SZ | China | $909M | -65% | -11% | -3% | n/a | -1.2% | -39.5% |
| Hunan Er-Kang Pharmaceutical 300267.SZ | China | $909M | -33% | -14% | -29% | n/a | n/a | n/a |
| Luye Pharma 2186.HK | Hong Kong | $839M | -36% | +3% | 18% | 8.1× | -10.5% | +1.9% |
| Bide Pharmatech 688073.SS | China | $912M | +5% | +10% | 19% | 27.5× | 16.7% | +27.7% |
| Oric Pharmaceuticals ORIC | United States | $914M | 0% | n/a | n/a | n/a | n/a | n/a |
| Latigo Biotherapeutics LTGO | United States | $835M | n/a | n/a | n/a | n/a | n/a | n/a |
| Sanofi Consumer Healthcare India SANOFICONR.NS | India | $835M | -28% | +23% | 36% | 27.2× | 17.1% | +22.7% |
| Zhejiang Int'l 000411.SZ | China | $828M | -8% | +3% | 3% | n/a | n/a | n/a |
| CARsgen Therapeutics 2171.HK | Hong Kong | $825M | -54% | +68% | -170% | n/a | n/a | n/a |
| Jinghua Pharmaceutical 002349.SZ | China | $825M | -8% | +2% | 20% | n/a | -1.8% | +2.6% |
| Dezhan Healthcare 000813.SZ | China | $928M | -18% | -10% | -121% | n/a | n/a | n/a |
Pharming has 1 bond outstanding with $111M face value.