Royalty Pharma (RPRX) Operating Expenses (2019 - 2026)
Royalty Pharma's Operating Expenses was $541.02 million in Q2 2026, up 46.7% from $368.87 million a year earlier and up 701.1% from the prior quarter.
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Analysis
Royalty Pharma (RPRX) Operating Expenses (2019 - 2026) Analysis & Trends
On a trailing twelve-month basis, Royalty Pharma's Operating Expenses was $1.02 billion through Jun 30, 2026, up 120.4% year-over-year; for FY2025, it came in at $818.68 million, down 15.7% from FY2024.
- Operating Expenses shows a five-year compound annual growth rate of 9.2% (FY2020 to FY2025).
- In earlier years, Operating Expenses was $971.13 million in FY2024 (+12.6%), $862.4 million in FY2023 (-55.3%), $1.93 billion in FY2022 (+124.8%) and $858.75 million in FY2021 (+63.0%).
- The Q2 2026 figure marks the highest quarterly Operating Expenses since Q1 2024.
- Compared with a year earlier, Operating Expenses has increased for three straight quarters, with growth averaging 17.7% over the last five quarters.
- The best year-over-year quarter for Operating Expenses over five years was Q3 2021 (growth of 915.8%); the worst was Q1 2025 (a decline of 94.7%).
- Per Business Quant data, RPRX's Operating Expenses in the three quarters before Q2 2026 was $67.54 million (Q1 2026), $233.61 million (Q4 2025) and $182.14 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Orix | 43.85 Bn | 44.35 Bn | - | 4.66 Bn |
| 2 | Rocket Companies | 43.67 Bn | 29.35 Bn | - | 2.50 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.48 Bn | - | 541.02 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 25.52 Bn | 25.52 Bn | - | 2.07 Bn |
| 5 | Synchrony Financial | 23.24 Bn | -44.73 Bn | - | 1.33 Bn |
| 6 | Affirm Holdings | 22.66 Bn | 16.35 Bn | - | 1.02 Bn |
| 7 | Royal Gold | 20.35 Bn | 19.57 Bn | 390.45 Mn | 173.18 Mn |
| 8 | Annaly Capital Management | 15.27 Bn | 6.37 Bn | - | 58.19 Mn |
| 9 | Ares Capital | 13.74 Bn | 11.17 Bn | - | - |
| 10 | Federal Home Loan Mortgage | 12.68 Bn | -6.06 Bn | - | 2.10 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 541.02 Mn |
| Mar 31, 2026 | 67.54 Mn |
| Dec 31, 2025 | 233.61 Mn |
| Sep 30, 2025 | 182.14 Mn |
| Jun 30, 2025 | 368.87 Mn |
| Mar 31, 2025 | 34.07 Mn |
| Dec 31, 2024 | 232.13 Mn |
| Sep 30, 2024 | -170.38 Mn |
| Jun 30, 2024 | 267.64 Mn |
| Mar 31, 2024 | 641.75 Mn |
| Dec 31, 2023 | -16.83 Mn |
| Sep 30, 2023 | 384.87 Mn |
| Jun 30, 2023 | 289.36 Mn |
| Mar 31, 2023 | 205.00 Mn |
| Dec 31, 2022 | 1.05 Bn |
| Sep 30, 2022 | 381.25 Mn |
| Jun 30, 2022 | 158.16 Mn |
| Mar 31, 2022 | 342.33 Mn |
| Dec 31, 2021 | 422.28 Mn |
| Sep 30, 2021 | 282.72 Mn |
API Access
Royalty Pharma Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=RPRX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "RPRX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=RPRX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();