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Halozyme Therapeutics cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$255M in Q3 2026 · $886M over twelve months

Operating cash flow$258M
Capital spending−$3.0M
Free cash flow+$255M
Cash / net income1.0×
Cash conversion cycle209 days

Analysis

In Q3 2026, Halozyme Therapeutics generated $258M of operating cash flow and spent $3.0M on capital projects, leaving free cash flow of $255M. That is $79.7M more than in Q3 2025 ($176M).

Over the twelve months to Sep 30, 2026, operating cash flow was $898M; the largest uses were other investing ($774M), buybacks ($400M), capital spending ($12.4M); besides operations, cash came from other financing ($899M); the cash balance rose by $611M.

Operating cash flow was $258M against net income of $247M — 1.0× profit, roughly in line with earnings. The largest differences: receivables −$69.8M, payables +$40.9M, stock-based pay +$16.8M.

Its cash conversion cycle was 209 days (receivables 91 + inventory 150 − payables 32).

Free cash flow

Halozyme Therapeutics: free cash flow by quarterHalozyme Therapeutics: free cash flow by quarter$175MQ4 2024$153MQ1 2025$98.1MQ2 2025$176MQ3 2025$218MQ4 2025$176MQ1 2026$237MQ2 2026$255MQ3 2026
Operating cash flow less capital spending.
Halozyme Therapeutics: operating cash flow against capital spendingHalozyme Therapeutics: operating cash flow against capital spendingOperating cash flowCapital spending$178M$3.1MQ4 2024$154M$950KQ1 2025$99.7M$1.6MQ2 2025$179M$3.0MQ3 2025$219M$1.4MQ4 2025$180M$3.7MQ1 2026$241M$4.2MQ2 2026$258M$3.0MQ3 2026
Latest (Q3 2026): Operating cash flow $258M, Capital spending $3.0M.

Capital allocation, year by year

Halozyme Therapeutics: where the cash came from (up) and went (down), by fiscal yearHalozyme Therapeutics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $299MFY2021: Shares issued $16.6MFY2021: Capital spending −$1.5MFY2021: Buybacks −$350M$316MFY2021FY2022: Operating cash flow $240MFY2022: Net borrowing $452MFY2022: Shares issued $14.1MFY2022: Asset sales $26.0MFY2022: Capital spending −$4.8MFY2022: Acquisitions −$999MFY2022: Buybacks −$200M$732MFY2022FY2023: Operating cash flow $389MFY2023: Capital spending −$15.3MFY2023: Buybacks −$402M$389MFY2023FY2024: Operating cash flow $479MFY2024: Capital spending −$10.7MFY2024: Buybacks −$250M$479MFY2024FY2025: Operating cash flow $652MFY2025: Capital spending −$7.0MFY2025: Acquisitions −$726MFY2025: Buybacks −$342M$652MFY2025
Over these 5 years operating cash flow totalled $2.1B; the largest uses were acquisitions ($1.7B) and buybacks ($1.5B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$1.0B
Debt$2.1B
Net debt$1.1B
Due within a year$11.8M

Halozyme Therapeutics funds itself: free cash flow was $886M over the last twelve months, and $1.0B of cash and investments stands against $2.1B of debt ($11.8M due within a year, 87.0× covered by cash).

Halozyme Therapeutics: debt maturities by year (FY2025)Halozyme Therapeutics: debt maturities by year (FY2025)$11.8MYear 1$221MYear 2$481MYear 3$6.6MYear 4$6.6MYear 5$1.5BAfter year 5
Principal due in each year as disclosed in the annual report, against $1.0B of cash and investments now.

Where the cash came from and went

Halozyme Therapeutics: sources (+) and uses (−) of cash, Q3 2026Halozyme Therapeutics: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)−$867MOther financing$655MOperating cash flow$258MBuybacks−$67.3MOther investing$24.0MCapital spending−$3.0M
Halozyme Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Halozyme Therapeutics: sources (+) and uses (−) of cash, TTM to Q3 2026Other financing$899MOperating cash flow$898MOther investing−$774MCash drawn (+) / kept (−)−$611MBuybacks−$400MCapital spending−$12.4M

From profit to cash

Halozyme Therapeutics: net income to operating cash flow, Q3 2026Halozyme Therapeutics: net income to operating cash flow, Q3 2026Net income$247MDepreciation & amortization$4.7MStock-based pay$16.8MReceivables−$69.8MInventory$5.0MPayables$40.9MPrepaid and other assets−$13.2MOperating cash flow$258M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20269115032209
Q2 20268616822233
Q1 202610618920274
Q4 20257821221269
Q3 20258630628363
Q2 20258634038388
Q1 202510128528358
Q4 20248729925361

Every quarter

QuarterOperating cash flowCapital spendingBuybacksCash drawn (+) / kept (−)Free cash flow
Q3 2026$258M−$3.0M−$67.3M−$867M$255M
Q2 2026$241M−$4.2M—$148M$237M
Q1 2026$180M−$3.7M—−$176M$176M
Q4 2025$219M−$1.4M—$283M$218M
Q3 2025$179M−$3.0M−$38.9M−$358M$176M
Q2 2025$99.7M−$1.6M—$114M$98.1M
Q1 2025$154M−$950K—−$60.5M$153M
Q4 2024$178M−$3.1M−$250M$38.5M$175M

Halozyme Therapeutics: income statement and cash flow

Halozyme Therapeutics, Q3 2026: revenue $493M (+39% year over year), operating margin 59.8%. The chart follows the revenue to costs, profit and cash.

Halozyme Therapeutics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.