7Baggers

Royalty Pharma plc
(NASDAQ:RPRX) 

RPRX stock logo

Royalty Pharma plc operates as a buyer of biopharmaceutical royalties and a funder of innovations in the biopharmaceutical industry in the United States. It is also involved in the identification, evaluation, and acquisition of royalties on various biopharmaceutical therapies. In addition, the compa...

Founded: 1996
CEO: Pablo Gerardo Legorreta  
Sector: Healthcare
Industry: Biotechnology
Pharmaceuticals
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At a glance:
Bull Thesis:
Bear Thesis:
Main Competitors:
Moat:
Income Statements:
Quarterly
Annual
    Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                            
      income and other revenues
    		                        
      income from financial royalty assets
    		594,992,000 592,432,000 578,812,000 550,418,000 539,490,000 561,845,000 533,166,000 512,865,000 541,546,000 523,065,000 508,657,000 501,345,000 664,687,000 546,541,000 551,682,000 515,350,000 511,523,000 526,212,000 505,832,000 503,414,000 529,625,000 524,439,000 498,515,000 474,177,000 
      other royalty income and revenues
    		35,584,000 29,558,000 30,479,000 28,247,000 28,757,000 31,796,000 31,524,000 24,402,000 26,432,000                
      total income and other revenues
    		630,576,000 621,990,000 609,291,000 578,665,000 568,247,000 593,641,000 564,690,000 537,267,000 567,978,000 596,068,000 536,313,000 538,202,000 683,971,000 565,748,000 573,463,000 535,955,000 562,049,000 575,700,000 585,773,000 554,963,000 573,027,000 572,143,000 538,399,000 510,932,000 
      operating expense
    		                        
      provision for changes in expected cash flows from financial royalty assets
    		-197,485,000 23,105,000 12,135,000 -203,938,000 -127,140,000 164,036,000 -227,604,000 212,429,000 583,600,000 -76,513,000 277,137,000 241,228,000 118,804,000 308,848,000 305,061,000 105,714,000 184,621,000 266,505,000 137,837,000 -243,762,000 292,262,000 129,341,000 -33,792,000 47,278,000 
      provision for credit losses on unfunded commitments
    		-3,700,000 -4,269,000 766,000 92,535,000                     
      research and development funding expense
    		39,790,000 50,500,000 50,500,000 300,500,000 50,500,000 500,000 500,000 500,000 500,000 500,000 50,500,000 500,000 500,000 50,500,000 25,500,000 606,000 100,500,000 103,821,000 90,500,000 3,122,000 2,641,000 7,779,000 5,096,000 5,776,000 
      general and administrative expenses
    		159,490,000 164,272,000 118,734,000 179,769,000 110,705,000 67,591,000 56,720,000 54,708,000 57,652,000 59,185,000 57,234,000 47,634,000 85,695,000 73,228,000 50,692,000 51,843,000 51,540,000 46,161,000 48,588,000 44,921,000 43,156,000 50,119,000 50,732,000 42,799,000 
      financial royalty asset impairment
    		69,443,000                        
      total operating expense
    		67,538,000 233,608,000 182,135,000 368,866,000 34,065,000 232,127,000 -170,384,000             -189,986,000     
      operating income
    		563,038,000 388,382,000 427,156,000 209,799,000 534,182,000 361,514,000 735,074,000 269,630,000 -73,774,000 612,896,000 151,442,000 248,840,000 478,972,000 -482,655,000 192,210,000 377,792,000 219,718,000 153,417,000 303,052,000 744,949,000 229,297,000 314,055,000 510,567,000 409,346,000 
      yoy
    		5.40% 7.43% -41.89% -22.19% -824.08% -41.02% 385.38% 8.35% -115.40% -226.98% -21.21% -34.13% 117.99% -414.60% -36.58% -49.29% -4.18% -51.15% -40.64% 81.99%     
      qoq
    		44.97% -9.08% 103.60% -60.73% 47.76% -50.82% 172.62% -465.48% -112.04% 304.71% -39.14% -48.05% -199.24% -351.11% -49.12% 71.94% 43.22% -49.38% -59.32% 224.88% -26.99% -38.49% 24.73%  
      other expense
    		                        
      equity in earnings of equity method investees
    		-21,758,000            -34,606,000   -737,000         
      interest expense
    		93,722,000 94,171,000 79,564,000 68,668,000 65,261,000 65,761,000 66,506,000 49,013,000 44,232,000 47,255,000 46,033,000 46,949,000 46,950,000 46,955,000 46,977,000 46,966,000 47,063,000 46,974,000 44,327,000 37,426,000 37,415,000 37,842,000 31,444,000 34,189,000 
      losses on equity securities
    		20,166,000 -35,716,000 -18,863,000 30,553,000 45,878,000   47,124,000 -77,730,000 -55,145,000 -1,541,000 -41,271,000 10,818,000 10,472,000 -5,168,000 -8,024,000 36,162,000 30,086,000 19,289,000      
      losses on available for sale debt securities
    		6,680,000   27,420,000 3,281,000   200,000     -32,300,000 104,800,000 -44,243,000          
      interest income
    		-6,229,000 -7,071,000 -6,903,000 -8,327,000 -11,290,000 -9,037,000 -17,508,000 -13,381,000 -7,417,000 -6,500,000 -23,436,000 -25,653,000 -16,702,000 -43,853,000 -14,034,000 -10,919,000 -9,529,000 -10,639,000 -12,261,000 -14,037,000 -16,598,000 -21,210,000 -1,587,000 -2,724,000 
      other non-operating expenses
    		2,201,000    3,062,000   -6,000,000                 
      total other expense
    		94,782,000 32,469,000 -17,055,000 119,164,000 100,749,000 27,163,000 -71,284,000   -104,690,000 29,365,000       99,746,000 81,256,000 -61,806,000 70,318,000 -52,573,000 -113,687,000 -192,630,000 
      consolidated net income before tax
    		468,256,000 355,913,000 444,211,000 90,635,000 433,433,000 334,351,000 806,358,000 194,377,000 -4,273,000 717,586,000 122,077,000 351,336,000 509,089,000 -610,030,000 220,414,000 491,597,000 128,083,000 53,671,000 221,796,000 806,755,000 158,979,000 366,628,000 624,254,000 601,976,000 
      income tax expense
    		                        
      consolidated net income
    		468,256,000 355,913,000 444,211,000 90,635,000 433,433,000 334,351,000 806,358,000 194,377,000 -4,273,000 717,586,000 122,077,000 351,336,000 509,089,000 -610,030,000 220,414,000 491,597,000 128,083,000 53,671,000 221,796,000 806,755,000 158,979,000 366,628,000 624,254,000 601,976,000 
      net income attributable to non-controlling interests
    		173,566,000 141,708,000 155,994,000 60,459,000 195,084,000 126,137,000 262,371,000 92,373,000 -9,051,000 223,246,000 49,963,000 123,711,000 168,334,000 -153,946,000 77,763,000 187,093,000 76,322,000        
      net income attributable to royalty pharma plc
    		294,690,000 214,205,000 288,217,000 30,176,000 238,349,000 208,214,000 543,987,000 102,004,000 4,778,000 494,340,000 72,114,000 227,625,000 340,755,000 -456,084,000 142,651,000 304,504,000 51,761,000        
      earnings per class a ordinary share:
    		                        
      basic
    		670 500 670 70 550 470 1,220 230 10 1,110 160 510 760 -1,040 320 700 120  240 1,080 180 440 790  
      diluted
    		670 500 670 70 550 470 1,210 230 10 1,100 160 500 760 -1,040 320 700 120  240 1,080 180 440 790  
      weighted-average class a ordinary shares outstanding:
    		                        
      basic
    		436,790,000 429,801,000 431,887,000 423,514,000 435,480,000 448,185,000 447,628,000 451,020,000 448,623,000 447,601,000 448,439,000 450,405,000 445,612,000 437,963,000 439,293,000 436,318,000 433,956,000 414,794,000 428,230,000 409,344,000 389,760,000 375,444,000 369,999,000 353,979 
      diluted
    		556,837,000 564,455,000 559,611,000 562,298,000 578,102,000 594,108,000 592,726,000 596,912,000 597,479,000 602,900,000 601,138,000 605,860,000 607,251,000 437,972,000 607,226,000 607,214,000 607,201,000 414,802,000 607,174,000 607,163,000 607,148,000 375,455,000 370,002,000 353,980 
      equity in losses of equity method investees
    		 -6,271,000 -15,948,000 -2,693,000 -6,443,000 -31,650,000 -10,407,000 -1,703,000 14,149,000 -268,000 5,222,000 770,000  6,856,000 3,251,000  -397,000        
      gains on derivative financial instruments
    		 -250,000 -4,000,000          -7,090,000            
      gains on available for sale debt securities
    		 -24,080,000 -52,480,000   -25,975,000 -57,680,000  -46,420,000 -30,625,000 -7,300,000 -82,900,000             
      other non-operating expenses/(income)
    		 1,544,750 1,575,000 1,543,000  -165,250 1,654,000                  
      losses on derivative financial instruments
    		   2,000,000 1,000,000 9,000,000 -3,000,000    8,680,000 700,000  980,000 -25,785,000 -71,805,000  96,000 16,972,000      
      gains on equity securities
    		     -20,363,750 -50,849,000                  
      operating expenses
    		                        
      total operating expenses
    		       267,637,000 641,752,000 -16,828,000 384,871,000 289,362,000 204,999,000 1,048,403,000 381,253,000  342,331,000 109,116,250 282,721,000  343,730,000 258,088,000 27,832,000 101,586,000 
      total other expenses/(income)
    		       75,253,000                 
      other non-operating expense
    		        3,685,000 18,308,000 1,707,000 -1,091,000 2,813,000 1,165,000 10,798,000 1,035,000 1,757,000 4,820,000 793,000 107,000 -43,000 3,821,000 23,337,000 -261,000 
      total other income
    		        -69,501,000   -102,496,000             
      revenue from intangible royalty assets
    		         238,000 252,000 202,000 143,000 288,000 1,073,000 2,537,000 33,586,000 31,654,000 63,406,000 40,127,000 36,061,000 40,404,000 34,550,000 33,445,000 
      other royalty income
    		         72,765,000 27,404,000 36,655,000 19,141,000 18,919,000 20,708,000 18,068,000 16,940,000 17,834,000 16,535,000 11,422,000 7,341,000 7,300,000 5,334,000 3,310,000 
      amortization of intangible assets
    		                5,670,000 5,796,000 5,796,000 5,733,000 5,671,000 5,796,000 5,796,000 5,733,000 
      total other expenses
    		            -30,117,000 -12,593,500 -28,204,000 -113,805,000 91,635,000        
      income and other revenues:
    		                        
      total operating expenses/(income)
    		               158,163,000         
      unrealized gains on available for sale debt securities
    		               -70,321,000  -26,433,000 -2,575,000      
      total income and revenues
    		                        
      unrealized losses on available for sale debt securities
    		                16,579,000 -2,061,500 14,885,000      
      equity in earnings of non-consolidated affiliates
    		                 -4,633,000 -2,749,000 -17,701,000     
      net income attributable to non-controlling interest
    		                 45,767,000 119,867,000 365,979,000     
      net income attributable to controlling interest
    		                 7,904,000 101,929,000 440,776,000 69,119,000 171,094,000 290,632,000 442,074,000 
      other comprehensive income
    		                 -7,992,750 -14,331,000 -7,274,000 -10,366,000 -4,676,000 7,571,000 6,949,000 
      reclassification of loss on interest rate swaps
    		                        
      reclassification of unrealized gains on available for sale debt securities
    		                 -10,136,250 -11,756,000      
      other comprehensive income attributable to non-controlling interest
    		                 -3,528,000 -6,000,000 -3,231,000     
      other comprehensive income attributable to controlling interest
    		                 -4,464,750 -8,331,000 -4,043,000     
      comprehensive income attributable to controlling interest
    		                 148,491,250 93,598,000 436,733,000 63,634,000 168,609,000 294,435,000 447,399,000 
      earnings per class a ordinary share :
    		                        
      basic
    		670 500 670 70 550 470 1,220 230 10 1,110 160 510 760 -1,040 320 700 120  240 1,080 180 440 790  
      diluted
    		670 500 670 70 550 470 1,210 230 10 1,100 160 500 760 -1,040 320 700 120  240 1,080 180 440 790  
      weighted-average class a ordinary shares outstanding :
    		                        
      basic
    		436,790,000 429,801,000 431,887,000 423,514,000 435,480,000 448,185,000 447,628,000 451,020,000 448,623,000 447,601,000 448,439,000 450,405,000 445,612,000 437,963,000 439,293,000 436,318,000 433,956,000 414,794,000 428,230,000 409,344,000 389,760,000 375,444,000 369,999,000 353,979 
      diluted
    		556,837,000 564,455,000 559,611,000 562,298,000 578,102,000 594,108,000 592,726,000 596,912,000 597,479,000 602,900,000 601,138,000 605,860,000 607,251,000 437,972,000 607,226,000 607,214,000 607,201,000 414,802,000 607,174,000 607,163,000 607,148,000 375,455,000 370,002,000 353,980 
      loss on derivative financial instruments
    		                   1,909,000     
      gain on equity securities
    		                   -55,495,000     
      unrealized gain on available for sale debt securities
    		                   -14,015,000 -9,115,000    
      reclassification of unrealized gain on available for sale debt securities
    		                   -13,299,000 -15,491,000    
      equity in loss of non-consolidated affiliates
    		                    1,918,000    
      unrealized loss on derivative financial instruments
    		                    2,555,000 2,190,000 7,088,000  
      loss on equity securities
    		                    54,186,000    
      less: net income attributable to non-controlling interest
    		                    -89,860,000 -195,534,000 -333,622,000 -159,902,000 
      comprehensive income
    		                    58,753,000 166,418,000 298,203,000 449,023,000 
      less: other comprehensive loss attributable to non-controlling interest
    		                    4,881,000    
      equity in (earnings)/loss of non-consolidated affiliates
    		                     -10,498,000 -13,743,000 -29,292,000 
      unrealized loss on equity securities
    		                     -50,238,750 -160,226,000 -193,895,000 
      reclassification of loss on interest rate swaps included in net income
    		                     1,016,500   
      change in unrealized movement on available for sale debt securities
    		                     16,811,250 7,571,000 6,949,000 
      less: other comprehensive income attributable to non-controlling interest
    		                     2,191,000 -3,768,000 -1,624,000 
      unrealized loss on derivative contracts
    		                       -647,000 
      earnings per share of class a ordinary shares :
    		                        
      basic
    		                       0.09 
      diluted
    		                       0.09 
      weighted-average shares of class a shares outstanding :
    		                        
      basic
    		436,790,000 429,801,000 431,887,000 423,514,000 435,480,000 448,185,000 447,628,000 451,020,000 448,623,000 447,601,000 448,439,000 450,405,000 445,612,000 437,963,000 439,293,000 436,318,000 433,956,000 414,794,000 428,230,000 409,344,000 389,760,000 375,444,000 369,999,000 353,979 
      diluted
    		556,837,000 564,455,000 559,611,000 562,298,000 578,102,000 594,108,000 592,726,000 596,912,000 597,479,000 602,900,000 601,138,000 605,860,000 607,251,000 437,972,000 607,226,000 607,214,000 607,201,000 414,802,000 607,174,000 607,163,000 607,148,000 375,455,000 370,002,000 353,980 
    Balance Sheets:
    Quarterly
    Annual
      Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 2020-06-30 
                              
        assets
      		                        
        current assets
      		                        
        cash and cash equivalents
      		586,395,000 618,696,000 938,944,000 631,908,000 1,087,720,000 929,026,000 950,052,000 1,764,644,000 843,000,000 477,010,000 936,448,000 2,173,077,000 1,975,689,000 1,710,751,000 991,628,000 2,108,037,000 1,791,517,000 1,541,048,000 1,800,808,000 1,142,281,000 708,810,000 1,008,680,000 1,552,802,000 2,443,430,000 
        financial royalty assets
      		779,844,000 854,386,000 860,073,000 842,938,000 716,559,000 783,770,000 765,773,000 750,098,000 660,482,000 738,438,000 742,160,000 729,910,000 610,022,000 691,319,000 675,857,000 639,244,000 570,684,000 614,351,000 579,746,000 596,851,000 522,388,000 587,193,000 556,856,000 526,937,000 
        available for sale debt securities
      		21,900,000 18,800,000 16,100,000 13,200,000 12,100,000 58,200,000 48,500,000 38,500,000 29,000,000 18,300,000 5,300,000 5,100,000 2,500,000 1,300,000 409,347,000 363,700,000 64,800,000 66,000,000 67,016,000 68,702,000 69,261,000 69,984,000 43,507,000 28,500,000 
        other royalty income receivable
      		27,511,000 29,316,000 28,901,000 27,743,000 23,785,000 26,956,000 24,901,000 23,580,000 22,227,000 22,405,000 21,553,000 18,870,000 22,084,000 19,767,000 19,131,000 17,315,000 14,618,000 15,023,000 13,844,000 10,694,000 6,541,000 6,011,000 4,389,000 3,147,000 
        other current assets
      		10,161,000 6,893,000 5,519,000 4,452,000 3,079,000 4,187,000 4,969,000 2,292,000 5,010,000 3,798,000 6,784,000 10,224,000 4,570,000 90,520,000 90,515,000 67,119,000 5,388,000 6,631,000 8,945,000 12,098,000 6,657,000 8,596,000 14,398,000 12,789,000 
        total current assets
      		1,425,811,000 1,528,091,000 1,849,537,000 1,520,241,000 1,843,243,000 1,802,139,000 1,794,195,000 2,579,114,000 1,559,719,000 1,274,193,000 1,728,605,000 2,953,539,000 2,631,221,000 2,554,908,000 2,342,116,000 3,503,849,000 2,982,418,000 2,878,211,000 2,775,761,000 2,707,454,000 2,416,024,000 2,696,898,000 2,783,851,000 3,390,789,000 
        equity securities
      		173,270,000 171,312,000 129,393,000 110,529,000 141,083,000 186,960,000 228,867,000 178,017,000 277,217,000 199,487,000 144,342,000 142,800,000 101,529,000 112,348,000 262,820,000 304,447,000 267,638,000 269,800,000 264,765,000 184,042,000 244,503,000 298,689,000 637,411,000 477,185,000 
        equity method investments
      		265,697,000 289,968,000 290,957,000 275,914,000 336,208,000 379,424,000 351,017,000 352,099,000 350,355,000 375,894,000 378,291,000 384,301,000 384,325,000 397,175,000 409,857,000 412,076,000 418,151,000        
        goodwill
      		924,634,000 924,634,000 924,634,000 924,634,000                     
        other assets
      		76,850,000 79,293,000 86,585,000 85,491,000 36,707,000 33,534,000 42,789,000 27,555,000 4,488,000 6,522,000 20,212,000 29,408,000 28,030,000 29,629,000 30,613,000 33,412,000 3,870,000 4,145,000 4,515,000 5,960,000 4,256,000 23,158,000 4,891,000  
        total assets
      		19,815,415,000 19,620,780,000 19,347,280,000 18,323,000,000 17,608,256,000 18,222,715,000 18,042,242,000 17,656,579,000 16,130,886,000 16,381,851,000 15,855,524,000 17,121,482,000 17,074,121,000 16,813,466,000 17,672,605,000 17,740,413,000 17,378,888,000 17,515,865,000 17,732,358,000 16,514,913,000 15,914,088,000 16,020,286,000 15,990,678,000 15,685,556,000 
        liabilities and shareholders’ equity
      		                        
        current liabilities
      		                        
        distributions payable to non-controlling interests
      		87,417,000  77,222,000 98,197,000 108,796,000          105,731,000 115,990,000 116,010,000        
        accounts payable and accrued liabilities
      		25,483,000  41,415,000 20,209,000                     
        interest payable
      		25,302,000 110,818,000 29,044,000 85,609,000 19,221,000 98,062,000 38,412,000 56,252,000 12,595,000 51,682,000 12,595,000 54,162,000 13,199,000 54,162,000 13,199,000 54,162,000 13,199,000 57,696,000 16,733,000 42,904,000 10,271,000 42,146,000   
        current portion of long-term debt
      		380,000,000 380,000,000 380,000,000 999,436,000 998,605,000 997,773,000 996,942,000     999,370,000 998,441,000 997,512,000 996,583,000         182,226,000 
        other current liabilities
      		17,480,000 53,164,000 3,121,000 3,075,000 18,600,000 68,600,000 31,200,000 97,493,000 9,019,000 11,375,000    12,400,000      4,314,000     
        total current liabilities
      		535,682,000 636,211,000 530,802,000 1,206,526,000 1,182,852,000 1,253,616,000 1,167,758,000 275,701,000 124,574,000 161,377,000 127,933,000 1,172,222,000 1,116,879,000 1,166,783,000 1,131,625,000 182,327,000 135,871,000 171,250,000 255,055,000 283,989,000 255,983,000 307,887,000 269,983,000 450,973,000 
        long-term debt
      		8,576,443,000 8,570,917,000 8,565,735,000 7,003,063,000 6,618,847,000 6,614,653,000 6,610,437,000 7,602,019,000 6,139,376,000 6,135,285,000 6,131,194,000 6,127,074,000 6,122,942,000 6,118,810,000 6,114,677,000 7,106,199,000 7,101,138,000 7,096,070,000 7,090,669,000 5,825,559,000 5,821,072,000 5,816,584,000 5,812,047,000 5,729,622,000 
        accrued compensation liabilities
      		648,672,000 577,870,000 502,938,000 467,143,000                     
        other liabilities
      		117,785,000 120,843,000 126,944,000 143,328,000 17,900,000 12,080,000 5,580,000 27,041,000 3,220,000 900,000 11,300,000 8,500,000 12,300,000 2,500,000 9,900,000 43,700,000       110,000,000 110,000,000 
        total liabilities
      		9,878,582,000 9,905,841,000 9,726,419,000 8,820,060,000 7,819,599,000 7,880,349,000 7,783,775,000 7,904,761,000 6,267,170,000 6,297,562,000 6,270,427,000 7,307,796,000 7,252,121,000 7,288,093,000 7,256,202,000 7,332,226,000 7,237,009,000 7,267,320,000 7,345,724,000 6,109,548,000 6,077,055,000 6,124,471,000 6,192,030,000 6,290,595,000 
        commitments and contingencies
      		                        
        shareholders’ equity
      		                        
        class a ordinary shares, 0.0001 par value...
      		45,000 43,000 44,000 44,000 43,000 45,000 45,000 45,000 45,000 45,000 45,000 46,000 45,000 44,000 44,000 44,000 43,000 43,000 43,000 42,000 39,000 39,000 37,000 37,000 
        class b ordinary shares, 0.000001 par value...
      		                        
        class r redeemable shares, £1 par value; issued and outstanding: 2026–50 and 2025–50
      		63,000                        
        deferred shares, 0.000001 par value...
      		                        
        additional paid-in capital
      		4,384,056,000 4,123,088,000 4,112,538,000 4,127,665,000 4,210,531,000 4,103,482,000 4,107,742,000 4,100,554,000 4,074,849,000 4,011,435,000 4,006,758,000 4,031,242,000 3,739,658,000 3,666,160,000 3,632,903,000 3,570,585,000 3,543,204,000 3,507,533,000 3,454,218,000 3,415,598,000 2,931,249,000 2,865,964,000 2,611,976,000 2,557,237,000 
        retained earnings
      		2,507,091,000 2,356,318,000 2,304,314,000 2,222,750,000 2,480,664,000 2,845,653,000 2,764,685,000 2,378,251,000 2,427,448,000 2,517,583,000 2,134,680,000 2,252,945,000 2,216,811,000 1,964,689,000 2,504,974,000 2,446,132,000 2,224,677,000 2,255,179,000 2,320,878,000 2,291,966,000 1,923,771,000 1,920,635,000 1,807,146,000 1,571,399,000 
        non-controlling interests
      		3,048,287,000 3,238,039,000 3,206,513,000 3,155,030,000 3,100,010,000 3,395,785,000 3,388,589,000 3,275,566,000 3,363,965,000 3,557,792,000 3,446,175,000 3,532,019,000 3,868,251,000 3,897,223,000 4,264,303,000 4,380,938,000 4,364,324,000        
        treasury interests
      		-2,709,000 -2,612,000 -2,611,000 -2,612,000 -2,654,000 -2,662,000 -2,657,000 -2,661,000 -2,654,000 -2,629,000 -2,624,000 -2,629,000 -2,828,000 -2,806,000 -2,788,000 -2,752,000 -2,736,000 -2,715,000 -2,685,000 -2,662,000 -2,359,000 -2,317,000 -2,155,000 -2,119,000 
        total shareholders’ equity
      		9,936,833,000 9,714,939,000 9,620,861,000 9,502,940,000 9,788,657,000 10,342,366,000 10,258,467,000 9,751,818,000 9,863,716,000 10,084,289,000 9,585,097,000 9,813,686,000 9,822,000,000 9,525,373,000 10,416,403,000 10,408,187,000 10,141,879,000 10,248,545,000 10,386,634,000 10,405,365,000 9,837,033,000    
        total liabilities and shareholders’ equity
      		19,815,415,000 19,620,780,000 19,347,280,000 18,323,000,000 17,608,256,000 18,222,715,000 18,042,242,000 17,656,579,000 16,130,886,000 16,381,851,000 15,855,524,000 17,121,482,000 17,074,121,000 16,813,466,000 17,672,605,000 17,740,413,000 17,378,888,000 17,515,865,000 17,732,358,000 16,514,913,000 15,914,088,000    
        distributions payable to legacy non-controlling interests
      		 72,825,000    75,811,000 79,149,000 98,540,000 91,409,000 83,155,000 101,711,000 112,881,000 98,582,000 94,803,000           
        accounts payable and accrued expenses
      		 19,404,000   37,630,000 13,370,000 22,055,000 23,416,000 11,551,000 15,165,000 13,627,000 5,809,000 6,657,000 7,906,000 16,112,000 12,175,000 6,662,000 5,620,000 9,187,000 9,393,000 8,272,000 10,775,000 24,388,000 34,366,000 
        class r redeemable shares, £1 par value; issued and outstanding: 2025–50 and 2024–50
      		 63,000 63,000 63,000 63,000                    
        class r redeemable shares, £1 par value; issued and outstanding: 2024–50 and 2023–50
      		     63,000 63,000 63,000 63,000                
        marketable securities
      		             24,421,000 139,926,000 290,402,000 484,221,000 581,872,000 245,745,000 842,685,000 1,068,913,000 983,279,000 579,527,000 343,679,000 
        accrued royalty receivable
      		         14,242,000 16,360,000 16,358,000 16,356,000 16,830,000 15,712,000 18,032,000 51,190,000 53,286,000 59,657,000 34,143,000 33,454,000 33,155,000 32,372,000 32,307,000 
        class r redeemable shares, £1 par value; issued and outstanding: 2023–50 and 2022–50
      		         63,000 63,000 63,000             
        class r redeemable shares, £1 par value; 50 and 50 issued and outstanding, respectively
      		            63,000 63,000 63,000 63,000 63,000 63,000 63,000 63,000 63,000    
        intangible royalty assets
      		                 5,670,000 11,466,000 17,262,000 22,995,000 28,666,000 34,462,000 40,258,000 
        accumulated other comprehensive income
      		              16,904,000 13,177,000 12,304,000 16,491,000 20,553,000 28,672,000 29,452,000 34,395,000 34,746,000 30,515,000 
        investments in non-consolidated affiliates
      		                 435,394,000 473,051,000 465,620,000 444,407,000 454,936,000 439,839,000 430,296,000 
        liabilities and equity
      		                        
        distribution payable to non-controlling interest
      		                 107,934,000 119,135,000 117,378,000 108,840,000 126,366,000 135,595,000  
        accrued purchase obligation
      		                  110,000,000 110,000,000 110,000,000 110,000,000 110,000,000 111,610,000 
        non-controlling interest
      		                 4,471,951,000 4,593,564,000 4,671,686,000 4,954,818,000 5,077,036,000 5,346,835,000 5,237,829,000 
        derivative financial instruments
      		                    2,884,000 5,439,000 7,629,000 14,717,000 
        milestone payable
      		                    18,600,000 18,600,000   
        shareholders’/unitholders’ equity
      		                        
        shareholders’ contributions
      		                        
        class b shares, 0.000001 par value...
      		                        
        class r redeemable shares, £1 par value; 50 and 0 issued and outstanding, respectively
      		                     63,000 63,000 63,000 
        total shareholders’/unitholders’ equity
      		                     9,895,815,000 9,798,648,000  
        total liabilities and shareholders’/unitholders’ equity
      		                     16,020,286,000 15,990,678,000  
        royalty distribution payable to affiliates
      		                       122,771,000 
        shareholders'/unitholders' equity
      		                        
        shareholders' contributions
      		                        
        total shareholders'/unitholders' equity
      		                       9,394,961,000 
        total liabilities and shareholders'/unitholders' equity
      		                       15,685,556,000 
      Cashflow Statements:
      Quarterly
      Annual
        Unit: USD2026-03-31 2025-12-31 2025-09-30 2025-06-30 2025-03-31 2024-12-31 2024-09-30 2024-06-30 2024-03-31 2023-12-31 2023-09-30 2023-06-30 2023-03-31 2022-12-31 2022-09-30 2022-06-30 2022-03-31 2021-12-31 2021-09-30 2021-06-30 2021-03-31 2020-12-31 2020-09-30 
                               
          cash flows from operating activities:
        		                       
          cash collections from financial royalty assets
        		915,598,000 916,130,000 882,358,000 726,525,000 829,737,000 777,477,000 791,609,000 669,375,000 744,949,000 747,356,000 707,663,000 594,756,000 1,151,635,000 663,337,000 662,545,000 559,665,000 621,689,000 582,707,000 639,053,000 520,148,000 573,946,000 572,712,000 545,707,000 
          cash collections from intangible royalty assets
        		3,773,000 39,000 264,000 240,000 177,000 227,000 390,000 486,000 13,544,000 235,000 250,000 200,000 617,000 537,000 1,029,000 35,695,000 35,682,000 38,025,000 37,933,000 39,439,000 35,761,000 39,622,000 34,485,000 
          other royalty cash collections
        		33,616,000 29,104,000 29,107,000 24,051,000 31,759,000 29,512,000 29,811,000 23,212,000 26,311,000 74,568,000 24,722,000 39,868,000 19,685,000 18,284,000 18,891,000 15,371,000 17,345,000 16,654,000 13,381,000 7,267,000 6,821,000 5,691,000 4,066,000 
          distributions from equity method investees
        		3,722,000 0 0 0 13,396,000 0 0 0 13,396,000 0 313,000 2,243,000 16,267,000 5,826,000 5,814,000 6,812,000 20,690,000       
          interest received
        		6,497,000 6,373,000 7,248,000 8,662,000 12,025,000 9,035,000 16,533,000 14,484,000 6,430,000 8,469,000 28,622,000 18,945,000 15,568,000 14,426,000 7,294,000 2,780,000 482,000 131,000 672,000 784,000 1,548,000 228,000 3,879,000 
          development-stage funding payments
        		-25,500,000 -50,500,000 -50,500,000 -300,500,000 -50,500,000                   
          payments for operating and professional costs
        		-36,251,000 -58,242,000 -34,175,000 -94,025,000 -101,696,000 -72,421,000 -55,232,000 -48,051,000 -60,521,000 -54,173,000 -54,961,000 -47,032,000 -86,846,000 -81,316,000 -48,650,000 -44,101,000 -48,902,000 -49,239,000 -53,508,000 -39,604,000 -42,160,000 -50,327,000 -59,397,000 
          payments for employee epas
        		-9,696,000 -9,075,000 -1,695,000                     
          interest paid
        		-173,526,000 -6,681,000 -129,992,000 -796,000 -138,822,000 -805,000 -78,997,000 -797,000 -78,971,000 -3,327,000 -82,589,000 -663,000 -82,589,000 -663,000 -82,596,000 -664,000 -86,216,000 -671,000 -65,259,000 0 -64,500,000 -767,000 -18,998,000 
          net cash from operating activities
        		718,233,000 827,148,000 702,615,000 363,984,000 596,076,000 742,525,000 703,614,000 658,209,000 664,638,000 772,628,000 573,520,000 607,817,000 1,033,837,000 569,931,000 538,827,000 574,952,000 460,270,000 489,957,000 469,759,000 531,720,000 526,100,000 565,673,000 508,848,000 
          capital expenditures
        		0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 
          free cash flows
        		718,233,000 827,148,000 702,615,000 363,984,000 596,076,000 742,525,000 703,614,000 658,209,000 664,638,000 772,628,000 573,520,000 607,817,000 1,033,837,000 569,931,000 538,827,000 574,952,000 460,270,000 489,957,000 469,759,000 531,720,000 526,100,000 565,673,000 508,848,000 
          cash flows from investing activities:
        		                       
          purchases of equity securities
        		-22,500,000 -54,000,000 0 0 -4,427,000 0 -12,500,000       -25,000,000 0 -28,785,000 -34,000,000 -35,121,000      
          proceeds from equity securities
        		375,000     0 0       165,000,000    0 6,590,000     
          proceeds from available for sale debt securities
        		4,320,000 2,880,000 2,880,000 2,880,000 12,586,000 12,586,000 2,880,000 2,880,000 1,440,000     495,169,000 15,625,000 15,625,000 15,625,000 15,625,000 15,625,000 15,625,000 15,625,000   
          proceeds from sales of available for sale debt securities
        		 0 0 0 510,553,000                   
          acquisitions of financial royalty assets
        		-452,366,000 -733,685,000 -961,873,000 -1,114,000 -1,057,000 -496,418,000 -1,194,571,000 -728,628,000 -86,084,000 -1,002,239,000 -451,132,000 -60,446,000 -601,705,000 -250,241,000 -1,316,306,000 -175,008,000 -85,000 -171,734,000 -1,336,027,000 -180,671,000 -503,070,000 -805,161,000 -802,465,000 
          milestone payments
        		-50,000,000 -2,713,000 0 -218,600,000 -50,000,000 -25,000,000 0   0 0 0 -12,400,000     0 0     
          net cash from investing activities
        		-477,865,000 -847,801,000 -958,314,000 -311,982,000 503,917,000 -505,588,000 -1,192,701,000 -893,176,000 -86,650,000 -1,000,172,000 -450,658,000 -63,433,000 -558,526,000 414,742,000 -1,425,150,000 -30,178,000 11,165,000 -551,646,000 -845,500,000 126,166,000 -599,300,000 -832,402,000 -1,004,602,000 
          cash flows from financing activities:
        		                       
          distributions to legacy non-controlling interests - portfolio receipts
        		-77,973,000 -79,149,000 -101,907,000 -89,220,000 -84,625,000 -81,202,000 -101,555,000 -91,915,000 -87,608,000               
          distributions to continuing non-controlling interests
        		-39,880,000 -40,756,000 -34,281,000 -38,605,000 -53,833,000 -31,448,000 -31,018,000 -30,682,000 -32,011,000 -24,489,000 -31,122,000 -30,529,000 -33,394,000           
          dividends to shareholders
        		-104,490,000 -94,343,000 -95,312,000 -93,241,000 -95,357,000 -93,656,000 -94,061,000 -94,943,000 -93,805,000 -89,338,000 -89,751,000 -90,605,000 -88,633,000 -84,201,000 -83,809,000 -83,049,000 -82,263,000 -73,603,000 -73,017,000 -72,581,000 -65,983,000 -57,605,000  
          repurchases of class a ordinary shares
        		-50,100,000 -80,537,000 -146,493,000 -291,572,000 -708,781,000 -52,607,000 -97,045,000   -30,200,000 -140,117,000             
          contributions from legacy non-controlling interests - r&d
        		 0 -219,000 219,000 220,000 220,000 219,000 220,000 88,000 88,000 88,000 88,000 279,000           
          contributions from non-controlling interests - other
        		 0 15,000 4,605,000 1,077,000 1,031,000 1,041,000 950,000 1,338,000 1,018,000 1,657,000 945,000 3,313,000           
          other
        		-226,000 0 0   0 1,000                 
          net cash from financing activities
        		-272,669,000 -299,595,000 562,735,000 -507,814,000 -941,299,000  -325,505,000 1,156,611,000 -211,998,000  -1,359,491,000 -346,996,000 -210,373,000 -265,550,000 -230,086,000 -228,254,000 -220,966,000 -198,071,000 1,034,268,000 -224,415,000 -226,670,000 -277,393,000 -357,391,000 
          net change in cash and cash equivalents
        		-32,301,000 -320,248,000 307,036,000 -455,812,000 158,694,000 -21,026,000 -814,592,000 921,644,000 365,990,000 -459,438,000 -1,236,629,000 197,388,000 264,938,000 719,123,000 -1,116,409,000 316,520,000 250,469,000 -259,760,000 658,527,000 433,471,000 -299,870,000 -544,122,000 -853,145,000 
          cash and cash equivalents, beginning of period
        		618,696,000 0 0 0 929,026,000 0 0 0 477,010,000 0 0 0 1,710,751,000  0 0 1,541,048,000  0 0 1,008,680,000  -37,483,000 
          cash and cash equivalents, end of period
        		586,395,000 -320,248,000 307,036,000 -455,812,000 1,087,720,000 -21,026,000 -814,592,000 921,644,000 843,000,000 -459,438,000 -1,236,629,000 197,388,000 1,975,689,000  -1,116,409,000 316,520,000 1,791,517,000  658,527,000 433,471,000 708,810,000  -890,628,000 
          acquisition of businesses, net of cash acquired
        		 0 -226,000                     
          investments in equity method investees
        		     0 0 -3,984,000 -6,971,000 -1,992,000 -3,984,000 -2,987,000 -3,579,000 0 -6,846,000 0 -3,050,000       
          purchases of available for sale debt securities
        		 -100,000,000 0   0 0       -85,822,000 -314,579,000 -14,579,000 -64,579,000 -17,686,000 -17,585,000 -17,585,000 -17,585,000   
          proceeds from sales and maturities of marketable securities
        		         0 0 0 24,391,000 115,636,000 150,798,000 251,299,000 274,608,000 104,716,000 624,446,000 448,906,000 419,783,000 205,836,000 255,887,000 
          acquisitions of other financial assets
        		     0 0       0 0         
          cash acquired in connection with purchase of non-controlling interest
        		                       
          proceeds from revolving credit facility
        		 0                      
          repayment of revolving credit facility
        		 0                      
          repayment of long-term debt
        		 0        0              
          proceeds from issuance of long-term debt, net of discount
        		 0    0 0                 
          debt issuance costs and other
        		 -3,020,000    -300,000 -3,088,000           -801,000    -151,000 -37,745,000 
          development-stage funding payments - ongoing
        		     -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -500,000 -606,000 -500,000      -5,095,000 
          development-stage funding payments - upfront and milestone
        		         0    -50,000,000 -25,000,000         
          purchases of marketable securities
        		             0 0 -57,515,000 -177,354,000 -440,911,000 -27,643,000 -222,686,000 -505,339,000   
          distributions to legacy non-controlling interests - other
        		                       
          net cash from in financing activities
        		                       
          derivative collateral received
        		                 0 23,190,000     
          derivative collateral posted
        		                 0 -25,320,000     
          termination payments on derivative instruments
        		                 0      
          net (cash from)/provided by in financing activities
        		                       
          distributions to legacy non-controlling interests - royalty receipts
        		          -100,246,000 -92,453,000 -91,938,000           
          distributions to shareholders/unitholders
        		                     0 2,000 
          scheduled repayments of long-term debt
        		                     0 0 
          repayments of long-term debt
        		                     0 -5,945,800,000 
          proceeds from issuance of class a ordinary shares upon ipo, net of offering costs
        		                     -907,000  
          cash and cash equivalents, beginning of year
        		                       
          cash and cash equivalents, end of year
        		                       
          distributions to non-controlling interests
        		              -107,183,000 -109,158,000 -106,385,000       
          distributions to non-controlling interests- other
        		              -40,956,000 -37,828,000 -34,515,000       
          contributions from non-controlling interests- r&d
        		              240,000 107,000 624,000       
          contributions from non-controlling interests- other
        		              1,622,000 1,674,000 1,573,000       
          development-stage funding payments - upfront and milestones
        		                -100,000,000       
          distributions from non-consolidated affiliates
        		                 6,171,000 6,210,000 4,678,000 17,325,000 6,293,000 4,201,000 
          ongoing development-stage funding payments
        		                 -613,000 -500,000 -3,122,000 -2,641,000   
          upfront development-stage funding payments
        		                 -103,208,000      
          investments in non-consolidated affiliates
        		                 -6,535,000 -10,893,000 -8,713,000 -8,714,000 -10,893,000 0 
          purchase of warrants
        		                       
          distributions to non-controlling interest
        		                 -115,980,000 -125,427,000 -112,476,000 -125,721,000 -143,059,000 -116,347,000 
          distributions to non-controlling interest- other
        		                 -34,293,000 -32,529,000 -49,795,000 -37,183,000 -106,904,000 -46,176,000 
          contributions from non-controlling interest- r&d
        		                 1,256,000 2,003,000 2,083,000 1,997,000 2,261,000 1,107,000 
          contributions from non-controlling interest- other
        		                 25,350,000 2,950,000 8,354,000 220,000 28,972,000 17,360,000 
          purchase of treasury interests
        		                       
          proceeds from issuance of long-term debt
        		                     0 5,851,030,000 
          swap collateral received
        		                     0 0 
          swap termination payments
        		                     0 0 
          swap collateral posted
        		                       
          payments for rebates
        		                       
          purchase of equity securities
        		                      0 
          purchase of marketable securities
        		                      -458,024,000 
          contributions from non-controlling interest- acquisitions
        		                       
          proceeds from issuance of ordinary shares upon initial public offering, net of offering costs