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Primary reporting period: 2025-12-31 · Research updated Oct 12, 2026. A research update is not a new financial filing.
Who they are
Collegium Pharmaceutical, Inc. (COLL) is a specialized pharmaceutical firm dedicated to the development and marketing of medications for pain management. Its diverse product lineup features significant therapies aimed at addressing various pain conditions. A prominent offering is Xtampza ER, an extended-release, oral formulation of oxycodone, specifically engineered with properties to deter abuse.
How they make money
Collegium Pharmaceutical is a biopharmaceutical company that generates revenue primarily through the commercialization of a portfolio of pain management medications and neuropsychiatry products. The company utilizes a specialized sales force to market these products to healthcare professionals and manages distribution through wholesale and pharmacy channels.
Products & services
The company's portfolio includes Jornay PM for ADHD, and pain management products including Xtampza ER, Belbuca, and the Nucynta franchise.
Brands & revenue mix
Jornay PM
Differentiated treatment for ADHD and lead growth driver.
Separate brand revenue is not available in this research.Source
Xtampza ER
Extended-release pain management medication.
Separate brand revenue is not available in this research.Source
Belbuca
Pain management medication.
Separate brand revenue is not available in this research.Source
Nucynta
Licensed pain management product franchise.
Separate brand revenue is not available in this research.Source
Revenue share is not unit sales or a best-seller ranking. Parent brands and included sub-brands can overlap; do not add overlapping rows.
Product / operating segments
No reconciled product or operating-segment revenue breakdown is available for the current research period. Company-wide revenue remains separate from segment disclosure.
Geographic revenue
No reconciled geographic revenue breakdown was confirmed for the current research period.
The company discloses that it is subject to risks related to customer concentration, as a significant portion of its revenue is derived from a limited number of wholesale distributors.
Suppliers, materials & equipment
Patheon (Thermo Fisher Scientific) — Contract manufacturing organization for the production of Xtampza ER.Source
Business relationships & partnerships
Grünenthal Gmbh — License agreement granting Collegium the right to commercialize Nucynta products in the United States and its territories.Source
Shionogi — License agreement granting Collegium the right to commercialize certain products.Source
Strengths
Leading portfolio of responsible pain management medicationsSource
Growing neuropsychiatry business driven by Jornay PMSource
These are saved observations about business performance, not predictions. Review the company filings alongside the interpretation below. Latest stored financial period end: 2026-06-30.
Quarterly EPS turned negative at -0.46 versus 0.34 a year earlier.
Separate recurring operating losses from noncash or one-time charges, and check cash flow rather than interpreting negative EPS as a cash-outflow amount.
Quarterly net income turned from a profit to a loss versus the same quarter last year.
Identify the causes in the interim report and distinguish operating cash use from accounting charges. Prior profitability is not a guarantee of recovery.
Wall Street Score
Overall investment score · Quality, value, risk and opportunity
55
Fair
PoorElite
View category scores →
Company Quality
How good is the actual business—regardless of today’s stock price?
53
Fair
Financial Strength
34
Business Quality / Moat
84
Management
69
Growth Quality
32
Risk / Durability
36
Cheap for a Reason · Review the Risks
Uses financial strength, moat, management, growth quality and durability. It excludes share price, P/E, market cap, intrinsic value and margin of safety.
Opportunity
Opportunity Score · How does the current price compare with estimated value?
64
Fully Valued
Based on current valuation, company quality, recent trends, and available market signals.
View score details →
Model Outlook
12-month model · What does the model think happens next?
63/100
Building Historical Record
Model Score 63/100 — estimates relative performance potential, distinct from the overall Wall Street Score and the separate Company Quality score.
Probability unavailable — the model has not produced a calibrated probability yet.
Click for full breakdown →
WSS View
The quick read
The overall Wall Street Score is mixed across its combined quality, valuation and risk inputs. Review the category scores to identify what is helping or hurting the result.
At today’s price, the WSS valuation framework currently reads as moderate rather than unusually attractive.
The model outlook is currently moderate.
What we like
•Asset quality scores strongly
•Valuation scores attractively
•Recent buyback activity is present
What to watch
•Repurchase headline · Aug 13, 2026
•Revenue fundamentals are weak
•Debt / balance-sheet profile needs attention
Company-specific research
Questions worth answering for COLL
Research inputs 100% complete
These questions are generated from this company's current financial and score data so the page adds context instead of treating the headline score as a stand-alone conclusion.
•Can COLL maintain its current revenue growth rate and improve the amount of that revenue that turns into earnings and cash?
•Is COLL's positive free cash flow repeatable, or is the current level being helped by temporary working-capital or spending changes?
•Is COLL's debt load manageable relative to cash generation, interest costs and upcoming maturities?
•Is COLL's valuation discount tied to a temporary concern or to a longer-term business risk?
•What does the current fundamental change risk warning mean for the reliability or interpretation of COLL's score?
Two different market-behavior signals. Momentum measures direction and trend strength. Volatility measures how large and unstable the price moves are, regardless of direction.
A high momentum score means price has been trending upward with confirming short- and medium-term strength. A low score means downward or weakening momentum.
Volatility = How violently is it moving?
A high volatility score means larger, less stable price swings. It can happen while a stock is rising or falling, so high volatility is not automatically bullish or bearish.
Important: the volatility score above is based on realized price volatility. Implied volatility (IV) comes from options prices and represents the market's expected future movement. Wall Street Score will keep IV separate and will only display it when a verified options-chain feed is available.
Notices for COLL
Detected from reported data — verify before acting.
Historical repurchase activity
Reported cash flows or share-count measures indicate past repurchase activity. This does not verify an active buyback authorization or future purchases.
Repurchase headline · Aug 13, 2026
Collegium Announces $50 Million Accelerated Share Repurchase Program — This is a provider-linked headline, not an independently confirmed event. Check the article and company filings for the subject, proposed/completed status, and subsequent updates.
+Growth opportunities may come from revenue expansion, margin improvement, new products, market-share gains, and stronger cash flow.
+Leading portfolio of responsible pain management medications.
+Growing neuropsychiatry business driven by Jornay PM.
+Positive free cash flow may provide capacity to invest in growth.
Potential downside factors
−Key risks may include competition, margin pressure, debt levels, valuation risk, and changes in demand within the Drug Manufacturers - Specialty & Generic industry.
−Customer concentration.
−Compliance with U.S. Drug Enforcement Agency regulations.
These research factors come from saved company research and financial data, not community votes. They are starting points to verify against filings, not buy or sell recommendations.
Create a free account to make a call.
Scores
Click any score for full breakdown
Wall Street Score
Fair55/ 100
Weak (0–50)Fair (51–71)Strong (72+)
Debt
Poor
21
Debt Cost8.8%
Debt Reduction YoY-9.5%
Debt / Equity3.12x
Tap for breakdown →
Revenue
Poor
38
Revenue YoY3.5%
Revenue CAGR17.4%
Net Margin5.9%
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Asset
Strong
71
Asset Growth YoY-0.4%
Liquidation/Share$7.86
Net Assets/MCap1.81x
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Capital
Fair
62
Earnings Yield6.8%
Buyback Yield6.2%
Debt Cost8.8%
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Management
Fair
69
ROIC12.6%
ROE15.4%
ROA2.2%
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Moat
Strong
84
EPS Growth6.5%
FCF/Share Growth35.0%
Rev/Share Growth17.2%
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Valuation
Elite
97
Intrinsic Value$58.91
Value Reference$35.34
MOS60.6%
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Buffett
Fair
56
Revenue38
Moat84
Valuation97
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MOS
Elite
100
MOS %60.6%
Value Reference$35.34
Deep Discount Reference$23.56
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Financial
Poor
24
Interest Coverage2.3x
ROIC12.6%
FCF Yield46.3%
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Master
Fair
57
Financial24
Valuation97
Debt21
Tap for breakdown →
Resilience
Fair
58
Survival Years2.1 yrs
Current Ratio1.57x
FCF Margin42.0%
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Score Changes
6 historical score records available
Previous Score
58
Sep 17, 2026
Change
-2.9
points
Current Score
55
Oct 1, 2026
Category Changes
Revenue+0.3
Debt0
Assets0
Capital+1.0
Management0
Moat-1.0
Valuation0
Buffett-0.1
COLL decreased 2.9 points because some fundamentals weakened.
Projected Score
Projected Score
50
Projected Change
-5.4 points
Preliminary comparable-period financial changes suggest decline of approximately 5.4 points. This is a projected estimate, not the official WallStreetScore.
Monetary values in USD. Share counts in raw units.
Income StatementBalance SheetCash Flow
AnnualQuarterlyTTM + Annual
All rows
Free includes 3 annual periods plus available TTM; Premium includes up to 10 annual periods. History depends on available company filings. Swipe the table horizontally to see older periods. A dash means unavailable, not zero.
Line Item
TTM
2025
2024
2023
2022
2021
2020
2019
2018
2017
2016
Revenue
$808.2M
$780.6M
$631.4M
$566.8M
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Cost of Revenue
$323.1M
$317.3M
$254.1M
$240.6M
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Gross Profit
$485.1M
$463.3M
$377.3M
$326.2M
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Research & Development
$0.00
$0.00
$0.00
$0.00
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SG&A Expenses
$239.8M
$276.2M
$183.0M
$159.2M
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Operating Expenses
$326.6M
$276.2M
$207.4M
$159.2M
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EBITDA
$586.6M
$401.0M
$341.7M
$308.3M
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Operating Income
$158.5M
$187.1M
$169.9M
$167.0M
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Interest Expense
$161.9M
$82.3M
$74.0M
$83.3M
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····
····
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Income Before Tax
$77.7M
$92.6M
$98.6M
$75.7M
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····
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Income Tax Expense
$29.8M
$29.7M
$29.4M
$27.6M
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Net Income
$47.9M
$62.9M
$69.2M
$48.2M
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Basic EPS
$1.53
$1.98
$2.14
$1.60
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Basic Shares
32.46M
31.71M
32.27M
33.74M
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Diluted Shares
32.46M
39.70M
40.42M
41.79M
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Upgrade to Premium for up to 10 annual periods, where available.
Debt and cash show percentage changes versus the comparison period; margin shows the change in percentage points (pp). These are company-wide changes, not per-share amounts.
Financial Changes Since Prior Period
What Improved
Cash position grew
What Weakened
Margins contracted
Debt increased
Potential Score Impact
Positive indicators included revenue growth, cash levels. Pressure indicators included EPS growth, debt levels, net income margin. These factors may support or pressure the Revenue, Management, Financial, and Debt categories; this summary does not claim that the stored scores changed.
Stored Earnings Analysis
Revenue increased 6.3%. EPS declined 235.3%. Cash increased 10.3%. Total debt increased 3.5%. Net income margin declined by 13.9 percentage points.
Earnings-Call Transcript
Earnings-call transcript analysis is not currently available.
These results may influence future scores when the next evaluation is completed.
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Government disclosed trading activity is available on the Smart Money directory. Filings may be delayed and may not represent complete current holdings.
Dividend HistoryShare
Dividend History
Dividend data is not available yet. Missing data does not mean this company pays no dividend.
Predictions & Historical PerformanceShare
Conservative Projected Values
3 Years
$———.——
Premium
5 Years
$———.——
Premium
10 Years
$———.——
Premium
Conservative Projection Rate
——%
Premium
Conservative Projected Values — price projections derived from actual 10-year adjusted historical returns, conservatively adjusted and capped at 8% annually. These are distinct from the Outperformance Model Score and WallStreetScore.
Conservative Projected Values
Premium unlocks the 3-year, 5-year, and 10-year conservative projected values with full calculation breakdowns based on actual historical returns.
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