# Jazz Pharmaceuticals plc (JAZZ)

> Source: Nexqual · https://nexqual.com/JAZZ · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Jazz Pharmaceuticals plc (JAZZ), nexqual.com/JAZZ" · informational, not investment advice.

**Price:** USD 214.65 (+1.26% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 211.97 · day 210.26–215.19 · 52w 128.8–266.38 · market cap $13.9B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $4.60B, net income $941M (20.4% margin), free cash flow $1.59B (SEC filings).
- Valuation: P/E 14.8x (avg 17.9x at the last 2 fiscal year-ends), EV/EBITDA 17.2x, net debt $2.15B.
- 2 of 80 tracked superinvestors hold JAZZ (13F, Q2 2026): 1 new, 0 added, 1 reduced, 0 unchanged.
- Total return with dividends: 1Y +55.3% vs S&P 500 +14.9%; 5Y +48.2% vs S&P 500 +80.3%.
- Next earnings: 2026-11-02, EPS estimate USD 1.97, revenue estimate $1.21B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $3.09B | $3.66B | $3.83B | $4.07B | $4.27B | $4.60B |
| Operating income | $170M | -$65.5M | $579M | $717M | -$430M | $897M |
| Net income | -$330M | -$224M | $415M | $560M | -$356M | $941M |
| EPS (diluted) | -$5.52 | -$3.58 | $6.10 | $8.65 | -$5.84 | — |
| Free cash flow | $751M | $1.24B | $1.07B | $1.36B | $1.30B | $1.59B |
| Operating margin | 5.5% | -1.8% | 15.1% | 17.6% | -10.1% | 19.5% |
| Net margin | -10.7% | -6.1% | 10.8% | 13.8% | -8.3% | 20.4% |
| Revenue growth | +30.9% | +18.3% | +4.8% | +6.1% | +4.9% | — |
| Cash + short-term investments | $591M | $881M | $1.51B | $2.41B | $2.44B | — |
| Total debt | $6.05B | $5.72B | $5.71B | $6.11B | $5.36B | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 14.8x · P/S 3.0x · EV/EBITDA 17.2x · EV/Sales 3.5x · P/FCF 8.8x · P/B 2.9x · FCF yield 11.42% · Earnings yield 6.75% · Net debt $2.15B · EV $16.1B
P/E at fiscal year-ends: Dec 2024 14.5x, Dec 2023 21.4x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold JAZZ. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Tweedy Browne |  | 1.10% | $14.5M | Reduced -0.1% |
| Polen Capital | Polen Capital Management | <0.01% | $448K | New position |

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-21 | Morgan Stanley | Target lowered | Overweight | $322 → $314 |
| 2026-10-08 | RBC Capital | Target lowered | Outperform | $299 → $296 |
| 2026-10-07 | Truist Securities | Target raised | Buy | $281 → $286 |
| 2026-09-30 | Citigroup | Initiated | Buy | $325 |
| 2026-09-11 | UBS | Target raised | Buy | $315 → $337 |
| 2026-09-10 | Barclays | Target raised | Overweight | $270 → $271 |
| 2026-08-26 | Deutsche Bank | Target raised | Buy | $287 → $300 |
| 2026-08-26 | Morgan Stanley | Target raised | Overweight | $283 → $322 |
| 2026-08-26 | Truist Securities | Target raised | Buy | $264 → $281 |
| 2026-08-26 | Needham | Target raised | Buy | $292 → $310 |
| 2026-08-11 | Morgan Stanley | Target raised | Overweight | $280 → $283 |
| 2026-08-04 | JP Morgan | Target raised | Overweight | $265 → $276 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +55.3% | +48.2% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +55.6% | +8.2% |
| Volatility (annualized) | 36.2% | 31.1% |
| Max drawdown | -20.3% (Aug 2026→Oct 2026) | -41.5% (Apr 2022→May 2025) |

## Peers (Biotechnology)
HALO (Halozyme Therapeutics, Inc.) USD 124.54 -0.23% · BBIO (BridgeBio Pharma, Inc.) USD 68.12 +0.56% · SMMT (Summit Therapeutics Inc.) USD 15.55 -1.77% · ASND (Ascendis Pharma A/S) USD 242.99 +1.71% · EXEL (Exelixis, Inc.) USD 65.31 +1.13% · CORT (Corcept Therapeutics Incorporat) USD 107.5 -7.55%

## More
Full page: https://nexqual.com/JAZZ · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in JAZZ's own 10-K filed 2026-02-24 (https://www.sec.gov/Archives/edgar/data/1232524/000123252426000013/jazz-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | WuXi | "Ziihera is manufactured by WuXi (Hong Kong) at their manufacturing site in WuXi, PRC." |
| Supplier | ChemSpec USA | "We source the API of Modeyso from ChemSpec USA, LLC." |
| Customer | McKesson (MCK) | "Defitelio is sold to hospital customers through subsidiary specialty distributors of McKesson." |
| Customer | Cencora (COR) | "Zepzelca, Rylaze, Ziihera and Vyxeos are sold to customers through subsidiary specialty distributors of McKesson, Cencora, and Cardinal." |
| Partner | Hikma | "Pursuant to amendments to our AG agreement with Hikma, effective January 1, 2026, we extended the period during which Hikma is permitted to sell the Hikma AG product until December 31, 2029." |
| Partner | Lonza AG and Lonza Sales | "In January 2026, we entered into a development and services agreement with Lonza AG and Lonza Sales AG for the commercial supply of Ziihera in the U.S. beginning in 2029." |
| Partner | SpringWorks Therapeutics | "agreement with SpringWorks Therapeutics, Inc., $312.0 million and $260.0 million in connection with our acquisitions of Chimerix and Cavion, respectively, and $1,542.4 million related to other agreements." |

Other companies that name JAZZ in their own reports (relationship from JAZZ's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | ALX ONCOLOGY HOLDINGS INC (ALXO) | 10-K 2026-03-09 | "Our collaborator, Jazz Pharmaceuticals plc (Jazz), sponsored and managed the Phase 1b/2 trial of zanidatamab, a HER2-targeted anti-cancer antibody, for the treatment of advanced HER2-expressing breast…" |
| partner | Zymeworks Inc. (ZYME) | 10-K 2026-03-02 | "We have entered into separate collaboration and license agreements with BeOne Medicines Ltd. (formerly BeiGene, Ltd. and, together with its affiliates, "BeOne") and Jazz Pharmaceuticals Ireland Limite…" |
| partner | Axsome Therapeutics, Inc. (AXSM) | 10-K 2026-02-23 | "Royalty Agreement with Jazz Pharmaceuticals, SK Biopharmaceuticals Co., Ltd. and Aerial Biopharma, LLC" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Product sales, net | $1.16B | 95.7% | +17.3% |
| Sleep | $501.7M | 41.5% | +11.3% |
| Xywav | $471.2M | 39.0% | +13.5% |
| Oncology | $362.3M | 30.0% | +31.9% |
| Epidiolex/Epidyolex | $292.1M | 24.2% | +16.1% |
| Epilepsy | $292.1M | 24.2% | +16.1% |
| Zepzelca | $105.8M | 8.8% | +42.0% |
| Rylaze/Enrylaze | $99.5M | 8.2% | -1.2% |
| Defitelio/defibrotide | $62.0M | 5.1% | +28.9% |
| Product And Services, Royalties And Contract Revenue | $52.2M | 4.3% | -13.1% |
| Modeyso | $48.2M | 4.0% | +9540.0% |
| High-sodium oxybate AG royalty revenue | $42.2M | 3.5% | -22.0% |
| Vyxeos | $31.4M | 2.6% | -30.1% |
| Xyrem | $30.5M | 2.5% | -13.8% |
| Ziihera | $15.4M | 1.3% | +156.7% |
| Other royalty and contract revenues | $10.0M | 0.8% | +66.7% |
| Total revenue | $1.21B | 100% | — |
The lines above cover 295.7% of total revenue.

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| U.S. | $1.08B | 89.2% | +15.1% |
| Europe | $97.4M | 8.1% | +17.8% |
| All other | $33.0M | 2.7% | +23.6% |
| Total revenue | $1.21B | 100% | — |

## Customer concentration

Period ended 2026-06-30: 41%, 11%, 10% of revenue from unnamed direct customers (10-Q, filed 2026-08-03).

## Company outlook (8-K filed 2026-08-03)

- "Jazz Pharmaceuticals has updated its full-year 2026 financial guidance as shown in the table below."
- "Reconciliations of non-GAAP adjusted guidance measures are included in the table titled "Reconciliation of 2026 GAAP to Non-GAAP Guidance Measures." Conference Call Details Jazz Pharmaceuticals will host an investor conference call and live audio webcast today at 4:30 p.m."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $1.97 | $6.37 | -69.1% | $1.21B | 19 |
| Next quarter (ends 2026-12-31) | $6.49 | $6.38 | +1.8% | $1.24B | 19 |
| Current fiscal year (ends 2026-12-31) | $20.50 | $25.31 | -19.0% | $4.72B | 19 |
| Next fiscal year (ends 2027-12-31) | $25.94 | $25.72 | +0.8% | $4.99B | 19 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-02): ±8.9%; last 8 reports averaged ±7.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 39.0% | ±8.9% |
| 2026-12-18 | 56 | 33.8% | ±10.7% |
| 2027-01-15 | 84 | 32.6% | ±12.6% |
| 2027-03-19 | 147 | 35.0% | ±17.8% |
| 2027-06-17 | 237 | 33.8% | ±21.8% |