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Fundamentals snapshot

Corcept Therapeutics Incorporated

CORT · NCM · Healthcare · Biotechnology

Current price

$110.16

52-week range

$28.66 - $126.38

Market cap

$11.91B

One-glance verdict

Overvalued

$60.96 our estimate vs market $110.16

Wall Street consensus: $141.00 (131.3% higher than our fair-value estimate)

Balance sheet

Healthy

2.07x Stretched

Net cash $298.78M. Interest coverage shows how many times profit covers the interest bill.

What this company does

Corcept Therapeutics Incorporated

Corcept Therapeutics makes medicines for serious hormone-related diseases, primarily selling a drug called Korlym for a condition called Cushing's syndrome, which causes the body to make too much cortisol. This drug is the main source of their revenue and helps manage high blood sugar in adults who have this condition, and it matters because it addresses a significant unmet medical need for these patients.

Price history

How the share price has moved

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Earnings history

Last 8 quarters — what happened

Click any quarter to read the call summary and what the numbers say.

Free cash flow by quarter (oldest to newest)
FY2024 Q3 $72.19M FY2024 Q4 $59.18M FY2025 Q1 $5.02M FY2025 Q2 $43.88M FY2025 Q3 $54.48M FY2025 Q4 $38.40M FY2026 Q1 $-16.97M FY2026 Q2 $31.02M
Revenue $256.15M
Net income $42.99M
Diluted EPS 0.36
Operating cash flow $33.54M
Free cash flow $31.02M
Revenue $164.90M
Net income $-31.76M
Diluted EPS -0.30
Operating cash flow $-16.77M
Free cash flow $-16.97M
Revenue $202.12M
Net income $24.29M
Diluted EPS 0.20
Operating cash flow $38.45M
Free cash flow $38.40M
Revenue $207.64M
Net income $19.67M
Diluted EPS 0.16
Operating cash flow $54.48M
Free cash flow $54.48M
Revenue $194.43M
Net income $35.15M
Diluted EPS 0.29
Operating cash flow $43.94M
Free cash flow $43.88M
Revenue $157.21M
Net income $20.55M
Diluted EPS 0.17
Operating cash flow $5.13M
Free cash flow $5.02M
Revenue $181.89M
Net income $30.75M
Diluted EPS 0.25
Operating cash flow $59.30M
Free cash flow $59.18M
Revenue $182.55M
Net income $47.21M
Diluted EPS 0.41
Operating cash flow $73.83M
Free cash flow $72.19M

Is it cheap or expensive?

Fair value $60.96 vs current price $110.16

Wall Street consensus is the average analyst price target: $141.00 (131.3% higher than our fair-value estimate).

Our most-likely fair value is $60.96 a share — about 44.7% below today's price of $110.16, so the stock currently looks expensive (overvalued).

overvalued

We estimate the cash this business should generate over the next 10 years and beyond, then convert it to today's money for a fair value per share, in its trading currency. Cautious, middle and optimistic growth cases give a range. Not for banks/insurers.

Base

Growth 13.0% · Discount 7.2% · Terminal 3.0%

$60.96

Bear

Growth 10.0% · Discount 7.2% · Terminal 3.0%

$51.70

Bull

Growth 13.0% · Discount 7.2% · Terminal 3.0%

$60.96

Is it drowning in debt?

Healthy

Net cash $298.8M - more cash than debt. Interest coverage 2.1x.

Net debt $-298.78M
Interest coverage 2.07x

Corcept Therapeutics Incorporated's profit covers its interest bill about 2.1 times over. which is stronger than most peers shown here and 1 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.

Healthy
Worse cushion Baseline Better cushion
CORT BASELINE Corcept Therapeutics Incorporated

Total debt $9.42M Interest coverage 2.07x This is the baseline the peer rows are being compared against.

2.07x
ARWR Arrowhead Pharmaceuticals, Inc.

Total debt $1.38B Interest coverage 1.10x -47% vs CORT Carries about 1.9x less debt cushion than CORT.

1.10x -47% vs CORT
MDGL Madrigal Pharmaceuticals, Inc.

Total debt $347.75M Interest coverage -13.45x -100% vs CORT This peer has almost no interest-payment cushion compared with CORT.

-13.45x -100% vs CORT
HALO Halozyme Therapeutics, Inc.

Total debt $2.18B Interest coverage 44.28x +2,042% vs CORT Carries about 21.4x more debt cushion than CORT.

44.28x +2,042% vs CORT
BMRN BioMarin Pharmaceutical Inc.

Total debt $4.20B Interest coverage 37.57x +1,717% vs CORT Carries about 18.2x more debt cushion than CORT.

37.57x +1,717% vs CORT
TECH Bio-Techne Corporation

Total debt $289.09M Interest coverage 28.31x +1,269% vs CORT Carries about 13.7x more debt cushion than CORT.

28.31x +1,269% vs CORT

What you should know

The case for and against CORT

3 Rewards 2 Risks

Rewards

  • Revenue grew 9.1% last year.
  • Returns 8.2% on equity, ahead of 50% of its peers.
  • Free cash flow was positive in 10/10 years.

Risks

  • Stock trades 593.0% above its 5-year average P/E.
  • Operating margin compressed from 28.0% to 16.1% over 3 years.

The numbers

All the key metrics, grouped by purpose

Tap any ? icon to learn what it means.

Valuation

How expensive the stock looks

P/E (TTM)
244.80x
Forward P/E
25.01x
P/B
16.84x
P/S
14.33x
EV/EBITDA
1,436.09x
PEG ratio
0.81x

Profitability

How much profit each dollar creates

Gross margin
98.3%
Operating margin
16.1%
Net margin
6.6%
ROE
8.2%
ROA
0.5%

Health

Liquidity and balance-sheet strength

Debt / equity
0.01x
Current ratio
2.86x
Quick ratio
2.50x
Total debt
$9.42M
Total cash
$308.20M

Growth

How the business has been compounding

Revenue TTM
$830.81M
Revenue 5Y CAGR
20.1%
EPS TTM
0.45
EPS 5Y CAGR
-2.0%

Cash flow

How much cash the business throws off

Operating CF TTM
$109.70M
Free CF TTM
$141.78M
FCF margin
17.1%

Dividend

Shareholder payout

Yield
0.0%
Payout ratio
0.0%
Last ex-div date
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