Forensic Analysis · Healthcare / Pharmaceuticals / Biotech · as of Aug 9, 2026

Neurocrine Biosciences Inc (NBIX)

A forensic read on Neurocrine Biosciences Inc built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

A · High-quality compounder

Forensic grade

Safe

Financial health

16.3

Distress distance

Clean

Earnings quality

Forensic signals

23.6

P / E (ttm)

14.7%

ROE

$16.6B

Market cap

21.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Neurocrine Biosciences Inc earns an A (High-quality compounder) forensic quality grade, and its balance-sheet distress test reads 16.3, placing it in the Safe zone. 2 forensic signals were flagged in its latest SEC filings, led by share-count dilution.

What the filings flag

+1.2%/yr

FY2022–FY2025

Share-count dilution. Diluted share count changed +4% over the last 3 years to FY2025 (+1.2%/yr). The count is growing: more stock was issued than repurchased over this window, so aggregate results grew faster than their per-share equivalents. That's ~1.2% shaved off per-share growth every year — total profit has to grow that much just to keep earnings-per-share flat, and a stake held since FY2022 has been diluted ~4%.

13.2%

FY2025

Return on invested capital. Return on invested capital is 13.2% in the latest fiscal year and rising from 11% — a modest positive spread over its ~10% cost of capital — growth adds value, though not dramatically.

Key fundamentals

Latest Revenue$2.86B

Revenue Growth YoY+21.4%

Revenue CAGR (3yr)+24.3%

Net Margin16.7%

Free Cash Flow$748.7M

Return on Equity14.7%

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Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.