What is Nektar Therapeutics's operating margin?

Nektar Therapeutics (NKTR) reported operating margin of -242% in Q1 2026.

What is the long-term trend for Nektar Therapeutics's operating margin?

Over 4 years (2020 to 2025), Nektar Therapeutics's operating margin has grown at a -2.3% compound annual growth rate (CAGR), from -278% to -253.7%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Nektar Therapeutics NKTR Operating margin

Operating margin at other companies

AmgenAMGN

28.4%+6.6pp

Regeneron PharmaceuticalsREGN

24.3%-2.9pp

ImmunityBio, Inc.IBRX

-185.4%-83.3pp

ImmunomeIMNM

-5,947.9%-12,002pp

Iovance Biotherapeutics, Inc.IOVA

-127.2%-31.0pp

IncyteINCY

30%+26.1pp

Other financials

Income statement

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Revenue$10.9M+3.8%

Gross profit$21.8M+2.9%

Operating income-$39.1M+12.3%

Net income-$44.9M+11.7%

EPS (diluted)-$1.82+49.7%

Balance sheet

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Cash & equivalents$5.7M-20.0%

Total debt$83.2M-17.1%

Total equity$576.2M+4,094%

Total assets$763.3M+198%

Cash flow

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Operating cash flow-$44.3M+9.7%

CapEx$18.0K+800%

Free cash flow-$44.3M+9.7%

Valuation

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Market cap$2.25B+1,531%

Enterprise value$2.33B+874%

P/S40.5×+38.9×

Profitability

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Gross margin100%+31.2pp

Net margin-284.2%+937pp

FCF margin-366.6%+1,421pp

Returns & leverage

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Return on equity-53.6%-22.6pp

Debt / equity0.1×-7.2×

Current ratio10.2×+7.0×

Where this comes from

Calculated from Nektar Therapeutics’s reported figures.

operating income/total revenue=-242%

Based on trailing twelve months.

The official record: Nektar Therapeutics’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Nektar Therapeutics's operating margin?: Nektar Therapeutics (NKTR) reported operating margin of -242% in Q1 2026.
What is the long-term trend for Nektar Therapeutics's operating margin?: Over 4 years (2020 to 2025), Nektar Therapeutics's operating margin has grown at a -2.3% compound annual growth rate (CAGR), from -278% to -253.7%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.