Does Theravance Biopharma have an economic moat?
Maybe
Theravance Biopharma earns 19.7% a year on the money invested in it: decent, but not the clear sign of a wide moat.
The numbers behind it
Return on invested capital, average of recent years19.7%
Return on invested capital, latest year-1.3%
Gross margin–Share of each sale left after production costs
Net margin98.5%
How we decide
A moat shows up in the numbers as high returns that last. We call it likely when the average return on invested capital over recent years is at least 15% and the gross margin at least 40%, and possible from 10%. The numbers can't show where a moat comes from (brand, network, patents), only that one seems to exist.
More questions about Theravance Biopharma
Data as of Sep 25, 2026.