MannKind Corporation Common Stock (MNKD)

FairStock Score: 29/100 — RISKY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I look for businesses that earn consistent profits and convert sales into cash. MannKind fails that test today. Revenue has grown: in fiscal year 2023, the year ended 2023-12-31, revenue was $199.0M; in fiscal year 2024, the year ended 2024-12-31, revenue was $285.5M; and in fiscal year 2025, the year ended 2025-12-31, revenue was $349.0M. In fiscal Q2 2026, the quarter ended 2026-06-30, revenue was $109.4M, up from $76.5M in fiscal Q2 2025, the quarter ended 2025-06-30. That top-line momentum is real. But profits are unstable: in fiscal year 2024 net income was $27.6M; in fiscal year 2025 net income was $5.9M; and in fiscal Q1 2026, the quarter ended 2026-03-31, and fiscal Q2 2026, the quarter ended 2026-06-30, net losses were $16.6M and $19.0M, respectively. Diluted EPS was negative $0.05 and negative $0.06 in those quarters. Trailing free cash flow is negative $18.1M, and FCF yield is -1.8%. FairStock's numbers at the 2026-10-13 close: P/E -21.79, EV/EBITDA 62.10, Piotroski 2/9, Altman Z -5.13, ROCE 0.79%, and FairStock score 29/100. Those are not marks of a fortress. The company sells Afrezza and Furoscix, but I see no durable competitive moat in the figures - only a niche product portfolio and heavy dependence on execution. FairStock labels it a TURNAROUND because it returned to profit after a loss within three years, but the latest trend is back toward losses. At a $980.7M market cap, investors are paying a lot for uncertain future profits. Graham would demand a margin of safety; here the asset value and earnings support are thin. I would watch revenue growth, cash burn, and whether profits return before calling this a sound value.

In plain English: MannKind is a biopharmaceutical company that sells inhaled insulin and treatments for heart and kidney conditions. Revenue is growing, but the company lost money in the last two reported quarters and is burning cash. At the 2026-10-13 close of $3.05 a share, the price looks expensive compared with the lack of steady profits.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer