Get started

Financials · ETON

Eton Pharmaceuticals Inc. (ETON) financials

For the twelve months ended Sep 30, 2026, Eton Pharmaceuticals Inc. reported $141.06M of revenue and $49.86M of net income.

Revenue, TTM
$141.06M
Revenue growth, YoY
+100.6%
Net income, TTM
$49.86M
Net margin
35.3%
Free cash flow, TTM
$38.21M
Cash
$55.63M
Total debt
$23.07M
P/E
32.36
P/S
11.44
Market cap
$1.61B
Annual revenue$79.95M
FY2019FY2025
Annual net income-$4.60M
FY2018FY2025
Annual free cash flow$10.19M
FY2018FY2025

ETON revenue and earnings growth

ETON revenueQ3 2026$57.92M

Quarter YoY
+157.9%
QoQ
+54.1%
FY YoY
+104.9%
5Y CAGR
+359.6%

ETON revenue was $57.92M in fiscal Q3 2026 (ended Sep 30, 2026), up 157.9% from a year earlier and up 54.1% from the prior quarter. For the full fiscal 2025 it was $79.95M, up 104.9% from fiscal 2024. Compound annual growth was +359.6% over 5 years. It rose in 4 of the last 6 fiscal years. Fiscal 2025 is the highest of the 7 fiscal years on file.

ETON net incomeQ3 2026$35.25M

QoQ
+204.4%

ETON net income was $35.25M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$1.93M a year earlier and up 204.4% from the prior quarter. For the full fiscal 2025 it was -$4.60M, compared with -$3.82M in fiscal 2024.

ETON EPSQ3 2026$1.06

QoQ
+202.9%

ETON diluted EPS was $1.06 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.07 a year earlier and up 202.9% from the prior quarter. For the full fiscal 2021 it was -$0.08, compared with -$1.33 in fiscal 2020.

ETON free cash flowQ3 2026$35.23M

Quarter YoY
+200.0%
QoQ
+385.9%
FY YoY
+980.7%

ETON free cash flow was $35.23M in fiscal Q3 2026 (ended Sep 30, 2026), up 200.0% from a year earlier and up 385.9% from the prior quarter. For the full fiscal 2025 it was $10.19M, up 980.7% from fiscal 2024. It rose in 2 of the last 3 fiscal years. Fiscal 2025 is the highest of the 8 fiscal years on file.

Export CSV

Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$79.95M$39.01M$31.64M$21.25M$21.83M$39.0K$959.0K-
Cost of revenue$37.21M$15.60M$10.58M$6.93M$2.83M$436.0K$453.0K-
Gross profit$42.74M$23.41M$21.06M$14.32M$19.00M-$397.0K$506.0K-
Research and development$7.76M$3.25M$3.32M$4.00M$6.24M$14.10M$11.55M$5.63M
Selling, general and admin$35.82M$22.75M$18.93M$18.58M$14.27M$12.61M$7.55M$4.69M
Operating income-$844.0K-$2.60M-$1.19M-$8.26M-$1.50M-$27.11M-$18.60M-$10.32M
Interest expense--$1.06M$955.0K$1.04M$884.0K$98.0K-
Pre-tax income-$4.56M-$3.81M-$689.0K-$9.02M-$1.96M-$27.97M-$18.32M-$12.74M
Income tax$43.0K$15.0K$247.0K$0$0---
Net income-$4.60M-$3.82M-$936.0K-$9.02M-$1.96M-$27.97M-$18.32M-$12.74M
EPS, basic-$0.17-$0.15-$0.04-$0.36-$0.08-$1.33-$1.03-$5.80
EPS, diluted-----$0.08-$1.33-$1.03-$5.80
Diluted shares----25.2M21.0M17.8M6.4M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$25.94M$14.94M$21.39M$16.30M$14.41M$21.30M$12.07M$26.73M
Receivables$11.76M$5.36M$3.41M$1.85M$5.47M$48.0K$473.0K-
Inventory$15.42M$15.23M$911.0K$557.0K$550.0K$1.24M$380.0K-
Current assets$60.58M$41.02M$26.84M$20.00M$23.60M$24.70M$15.01M$27.50M
Total assets$92.11M$76.12M$31.74M$25.03M$27.46M$26.32M$17.07M$28.33M
Current liabilities$38.49M$19.95M$16.24M$6.46M$4.56M$3.79M$1.96M$2.02M
Short-term debt$8.79M$0$5.38M$1.03M$1.42M---
Long-term debt$21.77M$29.81M------
Total debt$30.56M$29.81M$0$5.38M$5.26M$6.53M$4.54M-
Total liabilities$65.96M$51.70M$16.26M$11.95M$9.84M$10.66M$6.52M$2.02M
Shareholders' equity$26.15M$24.43M$15.48M$13.08M$17.63M$17.63M$10.55M$26.30M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow$10.52M$969.0K$6.82M$4.82M-$4.72M-$22.35M-$18.03M-$8.14M
Capital expenditures$333.0K$26.0K$0$38.0K$9.0K$50.0K$1.10M$236.0K
Free cash flow$10.19M$943.0K$6.82M$4.78M-$4.73M-$22.40M-$19.12M-$8.38M
Investing cash flow-$333.0K-$40.01M-$775.0K-$2.79M-$2.56M-$50.0K-$1.85M-$236.0K
Financing cash flow$815.0K$32.59M-$957.0K-$134.0K$391.0K$31.63M$5.20M$21.96M
Stock-based compensation$5.51M$3.17M$3.14M$4.22M$3.38M$2.58M$1.89M$1.85M
Depreciation and amortization$4.04M$1.15M$901.0K$1.77M$462.0K$347.0K$283.0K$63.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY104.9%23.3%48.9%-2.7%55879.5%-95.9%--
Gross margin53.5%60.0%66.6%67.4%87.1%-1017.9%52.8%-
Operating margin-1.1%-6.7%-3.8%-38.9%-6.8%-69515.4%-1939.6%-
Net margin-5.8%-9.8%-3.0%-42.4%-9.0%-71717.9%-1910.3%-
Free cash flow margin12.7%2.4%21.5%22.5%-21.7%-57425.6%-1994.0%-
Return on equity-17.6%-15.7%-6.0%-69.0%-11.1%-158.7%-173.6%-48.4%
Return on assets-5.0%-5.0%-2.9%-36.0%-7.1%-106.3%-107.3%-45.0%
Current ratio1.572.061.653.105.186.517.6513.59
Debt to equity1.171.220.000.410.300.370.43-

Source: XBRL data Eton Pharmaceuticals Inc. files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

ETON peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
ETON$141.06M+100.6%$49.86M35.3%$1.61B
LLY$86.46B+45.5%$27.58B31.9%$1.27T
JNJ$99.33B+7.8%$16.09B16.2%$664.95B
ABBV$66.01B+10.7%$10.34B15.7%$514.92B
MRK$67.38B+4.9%$2.45B3.6%$361.71B
NVS$54.53B+8.4%$13.98B25.6%$310.17B
AZN$58.74B+8.6%$10.22B17.4%$289.10B
ABT$48.23B+10.0%$4.70B9.7%$190.39B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$178.51B

ETON FAQ

8 questions
  • What is ETON revenue?
    Eton Pharmaceuticals Inc. (ETON) reported $141.06M of revenue for the twelve months ended Sep 30, 2026. That is up 100.6% from the year before. Revenue for fiscal 2025 was $79.95M.
  • Is ETON profitable?
    Yes. Eton Pharmaceuticals Inc. earned $49.86M in net income for the twelve months ended Sep 30, 2026, a net margin of 35.3%.
  • How much cash and debt does ETON have?
    Eton Pharmaceuticals Inc. reported $55.63M in cash and cash equivalents and $23.07M of debt on its most recent balance sheet in SEC filings.
  • How fast is ETON revenue growing?
    Eton Pharmaceuticals Inc.'s revenue changed +104.9% in fiscal 2025, to $79.95M. Its compound annual growth rate was +359.6% over 5 years.
  • What is ETON gross margin?
    Eton Pharmaceuticals Inc.'s gross profit was $97.55M on $141.06M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 69.2%.
  • What is ETON free cash flow?
    Eton Pharmaceuticals Inc. generated $38.21M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $38.35M less capital expenditures.
  • When did ETON last report financial results?
    The latest statements here come from Eton Pharmaceuticals Inc.'s 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this ETON financial data come from?
    Quantisnow builds these statements from the structured XBRL data Eton Pharmaceuticals Inc. files with the SEC. It is provided for information only and is not investment advice.