Vanda Pharmaceuticals (VNDA) Balance Sheet: Assets & Liabilities

Vanda Pharmaceuticals (VNDA) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Vanda Pharmaceuticals reported total assets of $488.95M and total liabilities of $161.76M. Shareholders' equity was $327.19M, down 39.2% from $538.55M a year earlier. Total debt stood at $12.62M against $263.85M in cash and short-term investments, a net cash position of $251.22M. That puts debt-to-equity at 0.04, compared with 0.02 a year earlier.

Vanda Pharmaceuticals Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Vanda Pharmaceuticals Inc. (VNDA) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	84.85	102.32	135.82	135.03	52.07	61.03	45.07	61.01	33.63
Short-Term Investments	179.00	272.33	252.44	331.83	380.74	306.71	267.06	196.36	109.79
Cash & Short-Term Investments	263.85	374.64	388.26	466.86	432.81	367.74	312.13	257.36	143.41
Accounts Receivable	54.58	47.10	34.16	33.51	32.47	30.04	26.37	28.78	17.60
Inventory	1.85	1.73	1.36	1.19	1.02	1.28	1.14	0.99	0.84
Other Current Assets	26.99	15.42	9.17	17.73	12.00	10.09	14.50	12.00	16.01
Total Current Assets	347.26	438.89	432.95	519.29	478.30	409.15	354.14	299.13	169.86
Non-Current Assets
Property, Plant & Equipment (Net)	13.51	12.68	9.14	10.97	12.39	14.60	15.04	4.42	5.31
Long-Term Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.58	0.60	0.00
Intangible Assets	117.09	114.10	121.37	18.57	20.08	21.56	23.04	24.54	26.07
Other Non-Current Assets	11.08	9.10	84.99	11.38	8.15	6.64	3.27	4.04	4.19
Total Non-Current Assets	141.69	217.31	215.49	114.96	115.49	124.31	129.61	33.00	35.57
Total Assets	488.95	656.20	648.44	634.25	593.79	533.46	483.75	332.13	205.43
Current Liabilities
Accounts Payable	4.94	3.50	38.46	12.69	0.93	1.05	5.90	0.00	0.00
Short-Term Debt	5.56	4.27	2.40	2.33	2.31	2.12	2.15	0.00	0.00
Accrued Liabilities	47.80	31.32	28.92	18.72	31.20	-	-	-	-
Other Current Liabilities	134.67	92.21	49.24	45.89	71.18	62.77	51.45	63.06	70.36
Total Current Liabilities	145.16	99.98	87.70	91.44	74.42	65.94	59.51	53.02	70.36
Non-Current Liabilities
Long-Term Debt	7.07	8.09	7.01	8.81	10.06	11.50	12.46	0.00	0.00
Deferred Tax Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.10	0.10
Other Non-Current Liabilities	9.53	9.59	8.83	6.80	4.39	2.76	0.84	3.69	3.68
Total Non-Current Liabilities	16.60	17.68	15.83	15.61	14.45	14.25	13.30	3.69	3.68
Total Liabilities	161.76	117.66	103.53	107.05	88.86	80.19	72.80	56.71	74.04
Stockholders' Equity
Common Stock	0.06	0.06	0.06	0.06	0.06	0.06	0.05	0.05	0.05
Retained Earnings	-394.77	-174.29	-155.39	-157.90	-164.18	-197.33	-220.67	-336.22	-361.43
Accumulated Other Comprehensive Income	0.63	0.07	-0.03	-1.19	-0.18	0.24	0.25	0.00	-0.03
Additional Paid-in Capital	721.26	712.71	700.27	686.24	669.22	650.30	631.31	611.59	492.80
Shares Outstanding	59.10	58.31	57.53	56.78	-	-	-	-	-
Total Stockholders' Equity	327.19	538.55	544.91	527.20	504.93	453.27	410.95	275.42	131.39
Total Liabilities & Equity	488.95	656.20	648.44	634.25	593.79	533.46	483.75	332.13	205.43

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Vanda Pharmaceuticals Balance Sheet

How much debt does Vanda Pharmaceuticals have?

Vanda Pharmaceuticals had total debt of $12.62M as of Dec 31, 2025, against $263.85M in cash and short-term investments. Its debt-to-equity ratio was 0.04. Total debt was $12.36M a year earlier.

What are Vanda Pharmaceuticals's total assets?

Vanda Pharmaceuticals reported total assets of $488.95M as of Dec 31, 2025, down 25.5% from $656.20M a year earlier. Total liabilities were $161.76M.

What is Vanda Pharmaceuticals's shareholders' equity?

Vanda Pharmaceuticals's shareholders' equity was $327.19M as of Dec 31, 2025, or about $5.54 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition