OPKO Health

OPK

Biotechnology · Healthcare

Also trades as: 0KCS.L

Price

$1.48

+0.02 (+1.37%)

Market Cap

$1.10B

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Good

Valuation

Data not available

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Share count rising — dilution

+15.9% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 648.1M (2021) → 751.1M (2025)

Winston Score History

The full picture

OPKO Health is a healthcare company that makes diagnostic tests and pharmaceutical drugs. Its biggest business is BioReference Laboratories, one of the largest clinical lab testing services in the U.S., which processes blood tests and other medical tests for doctors and hospitals. OPKO also sells Rayaldee, a prescription drug used to treat vitamin D deficiency in patients with chronic kidney disease.

OPKO makes money by charging for lab tests processed through BioReference and through prescription drug sales. The company operates mainly in the United States, with some international pharmaceutical operations in countries like Israel and Chile. With a market cap around $1 billion and a negative operating margin, OPKO is currently spending more than it earns, which is a key concern for investors. The main risk is that the lab testing business faces intense price pressure from larger competitors like Quest Diagnostics and Labcorp, while the pharmaceutical side depends heavily on growing Rayaldee prescriptions to move toward profitability.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+4.3% YoY

YoY Growth Rate

Slow revenue growth

EPS Growth

+94.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$124M/ year

↑ Rising (+18% vs prior year)

20.4% of revenue

In line with sector average (18%)

Investing heavily in future products and technology

Insider Activity

55.9%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~22 months

$341M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Adequate runway but may need to raise capital within 2 years

Heavy R&D investment

OPKO Health is putting 20% of revenue into R&D and that number is rising.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

48.9%

Healthy — 48.9% gross margin

Profit after running costs

Operating Margin

-4.3%

Losing money on operations — -4.3%

Return on the money invested

ROCE

-9.8%

Weak — -9.8% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-11.5%

Shrinking sales (-11.5% YoY)

Profit growth

EPS YoY

N/A

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-22.8%

Burning cash (-22.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.29

Conservative — low debt load (0.29)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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