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Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Legend Biotech's retained earnings for the quarter that ended in Mar. 2026 was $-2,013 Mil.
Legend Biotech's quarterly retained earnings
declined
from Sep. 2025 ($-1,928 Mil) to Dec. 2025 ($-1,959 Mil) and
declined
from Dec. 2025 ($-1,959 Mil) to Mar. 2026 ($-2,013 Mil).
Legend Biotech's annual retained earnings
declined
from Dec. 2023 ($-1,485 Mil) to Dec. 2024 ($-1,662 Mil) and
declined
from Dec. 2024 ($-1,662 Mil) to Dec. 2025 ($-1,959 Mil).
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Legend Biotech Retained Earnings Historical Data
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The historical data trend for Legend Biotech's Retained Earnings can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of $-2,013 Mil mean?
Legend Biotech (LEGN) has a Retained Earnings of $-2,013 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Legend Biotech and its competitors.
Is Legend Biotech's Retained Earnings too high?
Legend Biotech's current Retained Earnings is $-2,013 Mil. Overall, Legend Biotech has a GF Score™ of 73/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Legend Biotech's Retained Earnings compare to TVTX and ORKA?
Legend Biotech's Retained Earnings of $-2,013 Mil can be compared against companies in the Biotechnology industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Biotechnology company?
A good Retained Earnings depends on the Biotechnology industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Legend Biotech and its competitors. Legend Biotech's current Retained Earnings is $-2,013 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Legend Biotech stock overvalued right now?
Based on GuruFocus' analysis, Legend Biotech (LEGN) is currently considered Possible Value Trap. The stock's GF Value™ is $100.19, compared to a current price of $22.70 — trading 77.3% below its estimated fair value. The current Retained Earnings is $-2,013 Mil. Legend Biotech's overall GF Score™ is 73/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Legend Biotech (LEGN), the current Retained Earnings is $-2,013 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Legend Biotech (LEGN) Overvalued in 2026?
Based on GuruFocus' analysis, Legend Biotech stock appears to be undervalued.
The current stock price of $22.70 is trading 77.3% below its estimated GF Value™ of $100.19.
GuruFocus considers Legend Biotech to be Possible Value Trap.
Key valuation signals for LEGN:
Retained Earnings: $-2,013 Mil
GF Value™: $100.19 vs. price of $22.70 (77.3% below fair value)
No single metric tells the full story. See the LEGN stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Legend Biotech Corp is a clinical-stage biopharmaceutical company. It is engaged in the discovery and development of novel cell therapies for oncology and other indications. The firm's product candidate, LCAR-B38M/JNJ-4528, is a chimeric antigen receptor, or CAR, T cell therapy for the treatment of multiple myeloma. Geographically, the company generates a majority of its revenue from the United States of America. The company generates revenue from License and Collaboration revenue.
73GF Score
Get the complete analysis for LEGN
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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