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Vertex Pharmaceuticals (VRTX) Financials

Vertex Pharmaceuticals logo
$434.52 +0.98 (+0.23%)
Closing price 05/22/2026 04:00 PM Eastern
Extended Trading
$433.41 -1.11 (-0.26%)
As of 05/22/2026 07:32 PM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for Vertex Pharmaceuticals

Annual Income Statements for Vertex Pharmaceuticals

This table shows Vertex Pharmaceuticals' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 -556 -112 263 2,097 1,177 2,712 2,342 3,322 3,620 -536 3,953
Consolidated Net Income / (Loss)		 -588 -84 92 2,087 1,177 2,712 2,342 3,322 3,620 -536 3,953
Net Income / (Loss) Continuing Operations		 -588 -84 92 2,087 1,177 2,712 2,342 3,322 3,620 -536 3,953
Total Pre-Tax Income 		-558 -67 -16 600 1,395 3,117 2,730 4,232 4,380 249 4,643
Total Operating Income		 -467 9.94 123 635 1,198 2,856 2,782 4,307 3,832 -233 4,173
Total Gross Profit		 915 1,492 2,214 2,638 3,615 5,469 6,670 7,850 8,607 9,490 10,350
Total Revenue		 1,032 1,702 2,489 3,048 4,163 6,206 7,574 8,931 9,869 11,020 12,001
Operating Revenue		 1,032 1,702 2,489 3,048 4,163 6,206 7,574 8,931 9,869 11,020 12,001
Total Cost of Revenue		 117 210 275 410 548 736 904 1,080 1,262 1,531 1,651
Operating Cost of Revenue		 117 210 275 410 548 736 904 1,080 1,262 1,531 1,651
Total Operating Expenses		 1,382 1,482 2,090 2,003 2,418 2,613 3,888 3,543 4,775 9,723 6,177
Selling, General & Admin Expense		 377 433 496 558 659 771 840 945 1,137 1,464 1,753
Research & Development Expense		 996 1,048 1,325 1,416 1,755 1,830 3,051 2,656 3,690 8,259 4,043
Impairment Charge		 0.00 0.00 255 29 - - - - 0.00 0.00 379
Other Special Charges / (Income)		 - - 0.00 0.00 4.50 13 -3.10 -58 -52 -0.50 2.10
Total Other Income / (Expense), net		 -91 -77 -139 -35 197 261 -52 -75 548 481 470
Interest Expense		 - - 69 72 59 58 62 55 44 31 13
Interest & Investment Income		 -84 -81 12 38 64 22 4.90 145 615 598 491
Other Income / (Expense), net		 -6.72 4.13 -81 -0.79 192 297 4.90 -165 -23 -86 -7.70
Income Tax Expense		 30 17 -107 -1,487 218 405 388 910 760 784 690
Basic Earnings per Share		 ($2.31) ($0.46) $1.06 $8.24 $4.58 $10.44 $9.09 $12.97 $14.05 ($2.08) $15.46
Weighted Average Basic Shares Outstanding		 241.31M 244.69M 248.86M 254.29M 256.70M 259.80M 257.70M 256.10M 257.70M 257.90M 255.70M
Diluted Earnings per Share		 ($2.31) ($0.46) $1.04 $8.09 $4.51 $10.29 $9.01 $12.82 $13.89 ($2.08) $15.32
Weighted Average Diluted Shares Outstanding		 241.31M 244.69M 253.23M 259.19M 260.70M 263.40M 259.90M 259.10M 260.50M 257.90M 258M
Weighted Average Basic & Diluted Shares Outstanding		 240.80M 243.60M 248.60M 254.50M 259.27M 259.96M 254.58M 257.09M 258.31M 256.79M 254.03M

Quarterly Income Statements for Vertex Pharmaceuticals

This table shows Vertex Pharmaceuticals' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 1,035 969 1,100 -3,594 1,045 913 646 1,033 1,083 1,191 1,031
Consolidated Net Income / (Loss)		 1,035 969 1,100 -3,594 1,045 913 646 1,033 1,083 1,191 1,031
Net Income / (Loss) Continuing Operations		 1,035 969 1,100 -3,594 1,045 913 646 1,033 1,083 1,191 1,031
Total Pre-Tax Income 		1,179 1,148 1,279 -3,391 1,224 1,137 730 1,283 1,299 1,331 1,253
Total Operating Income		 1,038 989 1,140 -3,515 1,116 1,026 630 1,151 1,186 1,206 1,138
Total Gross Profit		 2,165 2,150 2,348 2,274 2,379 2,489 2,407 2,557 2,662 2,724 2,594
Total Revenue		 2,484 2,518 2,691 2,646 2,772 2,912 2,770 2,965 3,076 3,190 2,987
Operating Revenue		 2,484 2,518 2,691 2,646 2,772 2,912 2,770 2,965 3,076 3,190 2,987
Total Cost of Revenue		 319 368 343 372 393 423 363 408 415 466 393
Operating Cost of Revenue		 319 368 343 372 393 423 363 408 415 466 393
Total Operating Expenses		 1,127 1,161 1,209 5,788 1,263 1,463 1,777 1,406 1,475 1,518 1,456
Selling, General & Admin Expense		 264 369 343 372 372 378 396 425 445 487 494
Research & Development Expense		 862 842 866 5,416 891 1,086 1,000 981 1,032 1,030 962
Impairment Charge		 - - 0.00 0.00 0.00 - 379 0.00 0.00 - 0.00
Other Special Charges / (Income)		 1.20 -50 -0.10 0.50 0.30 -1.20 2.20 0.90 -1.90 0.90 0.20
Total Other Income / (Expense), net		 141 159 140 124 108 111 100 132 113 125 115
Interest & Investment Income		 168 180 181 157 132 128 118 122 126 122 115
Other Income / (Expense), net		 -16 -9.80 -31 -23 -17 -15 -18 13 -9.80 6.50 0.00
Income Tax Expense		 144 179 180 202 179 224 84 250 216 140 222
Basic Earnings per Share		 $4.01 $3.77 $4.26 ($13.92) $4.05 $3.53 $2.52 $4.02 $4.24 $4.68 $4.06
Weighted Average Basic Shares Outstanding		 258M 257.70M 258.20M 258.10M 258M 257.90M 256.90M 256.70M 255.60M 255.70M 254.10M
Diluted Earnings per Share		 $3.97 $3.71 $4.21 ($13.92) $4.01 $3.62 $2.49 $3.99 $4.20 $4.64 $4.02
Weighted Average Diluted Shares Outstanding		 260.60M 260.50M 261.10M 258.10M 261M 257.90M 259.50M 258.90M 257.60M 258M 256.30M
Weighted Average Basic & Diluted Shares Outstanding		 257.68M 258.31M 258.05M 258.10M 257.53M 256.79M 256.80M 256.39M 253.72M 254.03M 253.81M

Annual Cash Flow Statements for Vertex Pharmaceuticals

This table details how cash moves in and out of Vertex Pharmaceuticals' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 90 416 430 997 462 2,868 811 3,712 -140 -5,800 516
Net Cash From Operating Activities		 -365 236 845 1,270 1,569 3,254 2,644 4,130 3,537 -493 3,631
Net Cash From Continuing Operating Activities		 -365 236 845 1,270 1,569 3,254 2,644 4,130 3,537 -493 3,631
Net Income / (Loss) Continuing Operations		 -588 -84 92 2,087 1,177 2,712 2,342 3,322 3,620 -536 3,953
Consolidated Net Income / (Loss)		 -588 -84 92 2,087 1,177 2,712 2,342 3,322 3,620 -536 3,953
Depreciation Expense		 62 61 61 72 107 110 126 148 181 207 210
Non-Cash Adjustments To Reconcile Net Income		 243 320 800 385 180 196 439 652 539 699 1,178
Changes in Operating Assets and Liabilities, net		 -83 -61 -108 -1,274 106 236 -263 7.40 -802 -864 -1,710
Net Cash From Investing Activities		 269 51 -483 -202 -1,235 99 -341 -321 -3,142 -3,770 -945
Net Cash From Continuing Investing Activities		 269 51 -483 -202 -1,235 99 -341 -321 -3,142 -3,770 -945
Purchase of Property, Plant & Equipment		 -45 -57 -99 -95 -75 -260 -235 -205 -200 -298 -438
Purchase of Investments		 -633 -630 -533 -523 -577 -451 -605 -693 -3,787 -7,438 -6,397
Sale and/or Maturity of Investments		 1,079 758 308 432 571 810 499 920 934 4,466 5,897
Other Investing Activities, net		 -52 -20 1.06 -15 - - - -48 -89 -500 -8.70
Net Cash From Financing Activities		 189 133 68 -71 127 -505 -1,478 -68 -562 -1,495 -2,261
Net Cash From Continuing Financing Activities		 189 133 68 -71 127 -505 -1,478 -68 -562 -1,495 -2,261
Repayment of Debt		 -20 -96 -319 - 4.80 -1.80 - 3.50 1.80 6.20 3.70
Repurchase of Common Equity		 - 0.00 0.00 -350 -186 -539 -1,425 0.00 -428 -1,177 -2,017
Issuance of Common Equity		 186 68 345 289 343 265 102 186 135 115 128
Other Financing Activities, net		 -0.38 75 43 -13 -45 -229 -155 -258 -271 -439 -375
Effect of Exchange Rate Changes		 -2.83 -4.67 - - - - -13 - 27 - 91
Cash Interest Paid		 86 84 69 66 56 55 56 52 43 31 12
Cash Income Taxes Paid		 1.81 -2.58 6.41 12 25 192 476 1,058 1,677 1,082 1,567

Quarterly Cash Flow Statements for Vertex Pharmaceuticals

This table details how cash moves in and out of Vertex Pharmaceuticals' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 963 -744 -1,203 -4,578 657 -676 113 297 -34 140 417
Net Cash From Operating Activities		 1,268 235 1,307 -3,754 1,370 585 819 1,073 1,241 498 1,428
Net Cash From Continuing Operating Activities		 1,268 235 1,307 -3,754 1,370 585 819 1,073 1,241 498 1,428
Net Income / (Loss) Continuing Operations		 1,035 969 1,100 -3,594 1,045 913 646 1,033 1,083 1,191 1,031
Consolidated Net Income / (Loss)		 1,035 969 1,100 -3,594 1,045 913 646 1,033 1,083 1,191 1,031
Depreciation Expense		 42 59 54 54 53 47 48 52 54 56 56
Non-Cash Adjustments To Reconcile Net Income		 116 227 183 146 237 135 584 235 191 169 161
Changes in Operating Assets and Liabilities, net		 75 -1,020 -29 -360 35 -510 -460 -246 -86 -917 179
Net Cash From Investing Activities		 -118 -887 -2,136 -464 -348 -822 -56 -485 -117 -288 -432
Net Cash From Continuing Investing Activities		 -118 -887 -2,136 -464 -348 -822 -56 -485 -117 -288 -432
Purchase of Property, Plant & Equipment		 -41 -58 -68 -69 -68 -93 -41 -146 -102 -149 -133
Purchase of Investments		 -407 -989 -2,599 -1,297 -1,385 -2,159 -1,647 -2,173 -1,345 -1,231 -2,508
Sale and/or Maturity of Investments		 331 218 711 925 1,112 1,460 1,638 1,839 1,329 1,092 2,209
Other Investing Activities, net		 -1.10 -58 -180 -23 -8.10 -31 -5.30 -4.30 0.80 0.10 0.00
Net Cash From Financing Activities		 -165 -120 -358 -359 -388 -391 -680 -349 -1,155 -77 -539
Net Cash From Continuing Financing Activities		 -165 -120 -358 -359 -388 -391 -680 -349 -1,155 -77 -539
Repayment of Debt		 1.10 -1.50 3.50 0.90 0.90 0.90 -0.50 0.70 1.10 1.10 -0.40
Repurchase of Common Equity		 -117 -150 -131 -320 -308 -418 -426 -392 -1,071 -128 -337
Issuance of Common Equity		 15 46 17 55 8.40 34 17 49 7.90 54 27
Other Financing Activities, net		 -65 -15 -247 -94 -89 -8.60 -271 -7.20 -92 -3.90 -229
Effect of Exchange Rate Changes		 - - - -2.50 23 -47 - - -4.10 7.30 -40
Cash Interest Paid		 11 11 10 9.70 8.10 2.70 2.70 3.50 3.20 3.00 3.20
Cash Income Taxes Paid		 300 758 35 497 279 272 184 513 480 389 82

Annual Balance Sheets for Vertex Pharmaceuticals

This table presents Vertex Pharmaceuticals' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 2,499 2,897 3,546 6,246 8,318 11,752 13,433 18,151 22,730 22,533 25,643
Total Current Assets		 1,407 1,832 2,649 3,843 4,823 8,133 9,561 13,235 14,144 9,596 11,201
Cash & Equivalents		 715 1,184 1,665 2,650 3,109 5,988 6,795 10,504 10,369 4,570 5,085
Short-Term Investments		 328 251 423 518 699 671 730 275 849 1,546 1,523
Accounts Receivable		 174 200 281 410 634 885 1,137 1,442 1,563 1,609 2,053
Inventories, net		 57 78 112 124 168 281 353 461 739 1,205 1,687
Prepaid Expenses		 55 71 167 141 214 308 546 554 624 666 853
Plant, Property, & Equipment, net		 698 698 789 812 0.00 0.00 1,094 1,108 1,159 1,228 1,520
Total Noncurrent Assets		 394 367 108 1,591 3,496 3,618 2,778 3,808 7,427 11,709 12,922
Long-Term Investments		 0.00 20 - - - - - 112 2,498 5,108 5,712
Goodwill		 50 50 50 50 1,002 1,002 1,002 1,088 1,088 1,088 1,088
Intangible Assets		 284 284 29 0.00 400 400 400 604 840 826 424
Noncurrent Deferred & Refundable Income Taxes		 - - 0.83 1,500 1,191 883 935 1,247 1,812 2,331 2,898
Other Noncurrent Operating Assets		 6.91 12 27 41 903 1,333 441 757 1,189 2,356 2,799
Total Liabilities & Shareholders' Equity		 2,499 2,897 3,546 6,246 8,318 11,752 13,433 18,151 22,730 22,533 25,643
Total Liabilities		 1,405 1,559 1,504 1,811 2,233 3,065 3,333 4,238 5,150 6,124 6,977
Total Current Liabilities		 506 793 807 1,120 1,335 1,878 2,142 2,742 3,547 3,565 3,861
Accounts Payable		 75 61 74 111 88 155 195 304 365 413 462
Accrued Expenses		 306 315 444 959 1,117 1,405 1,679 2,127 2,655 2,789 2,971
Other Current Liabilities		 22 17 267 50 130 317 268 312 527 363 428
Total Noncurrent Liabilities		 899 766 696 690 898 1,188 1,191 1,496 1,602 2,559 3,116
Other Noncurrent Operating Liabilities		 504 588 670 690 898 1,188 1,191 1,496 1,602 2,559 3,116
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00
Total Equity & Noncontrolling Interests		 1,094 1,338 2,042 4,435 6,085 8,687 10,100 13,913 17,580 16,410 18,666
Total Preferred & Common Equity		 940 1,157 2,029 4,435 6,085 8,687 10,100 13,913 17,580 16,410 18,666
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 940 1,157 2,029 4,435 6,085 8,687 10,100 13,913 17,580 16,410 18,666
Common Stock		 6,200 6,509 7,160 7,424 7,940 7,897 6,883 7,389 7,452 6,675 5,122
Retained Earnings		 -5,262 -5,374 -5,120 -2,989 -1,853 859 3,201 6,523 10,142 9,607 13,560
Accumulated Other Comprehensive Income / (Loss)		 1.82 21 -12 0.66 -1.97 -69 16 0.80 -14 128 -16

Quarterly Balance Sheets for Vertex Pharmaceuticals

This table presents Vertex Pharmaceuticals' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 6/30/2023 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 20,349 21,726 22,730 23,917 20,132 22,240 22,533 22,881 24,037 24,862 26,484
Total Current Assets		 13,873 14,696 14,144 13,289 8,942 9,804 9,596 10,009 10,428 10,570 11,730
Cash & Equivalents		 10,151 11,110 10,369 9,158 4,580 5,239 4,570 4,675 4,972 4,940 5,493
Short-Term Investments		 1,085 818 849 1,013 1,215 1,285 1,546 1,527 1,411 1,347 1,754
Accounts Receivable		 1,556 1,539 1,563 1,793 1,656 1,751 1,609 1,805 1,894 1,946 1,996
Inventories, net		 604 689 739 813 915 1,080 1,205 1,360 1,499 1,627 1,767
Prepaid Expenses		 477 540 624 511 575 449 666 643 652 709 721
Plant, Property, & Equipment, net		 1,122 1,124 1,159 1,173 1,201 1,118 1,228 1,296 1,335 1,425 1,608
Total Noncurrent Assets		 5,354 5,906 7,427 9,456 9,990 11,318 11,709 11,576 12,274 12,868 13,146
Long-Term Investments		 1,357 1,700 2,498 4,381 4,393 4,704 5,108 5,157 5,646 5,723 5,750
Goodwill		 1,088 1,088 1,088 1,088 1,088 1,088 1,088 1,088 1,088 1,088 1,088
Intangible Assets		 604 604 840 835 838 832 826 441 436 430 419
Noncurrent Deferred & Refundable Income Taxes		 1,538 1,729 1,812 1,963 2,186 2,309 2,331 2,544 2,712 2,937 2,948
Other Noncurrent Operating Assets		 767 786 1,189 1,189 1,485 2,386 2,356 2,346 2,393 2,690 2,942
Total Liabilities & Shareholders' Equity		 20,349 21,726 22,730 23,917 20,132 22,240 22,533 22,881 24,037 24,862 26,484
Total Liabilities		 4,879 5,213 5,150 5,371 5,357 6,609 6,124 6,384 6,861 7,544 7,123
Total Current Liabilities		 3,352 3,599 3,547 3,796 3,547 3,973 3,565 3,783 4,138 4,475 3,881
Accounts Payable		 363 376 365 351 328 396 413 445 442 420 489
Accrued Expenses		 2,598 2,907 2,655 2,796 2,940 3,220 2,789 2,952 3,271 3,614 2,984
Other Current Liabilities		 391 316 527 649 279 358 363 386 425 442 407
Total Noncurrent Liabilities		 1,527 1,614 1,602 1,575 1,810 2,636 2,559 2,601 2,723 3,068 3,242
Other Noncurrent Operating Liabilities		 1,527 1,614 1,602 1,575 1,810 2,636 2,559 2,601 2,723 3,068 3,242
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 15,470 16,513 17,580 18,547 14,775 15,631 16,410 16,496 17,175 17,319 19,362
Total Preferred & Common Equity		 15,470 16,513 17,580 18,547 14,775 15,631 16,410 16,496 17,175 17,319 19,362
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 15,470 16,513 17,580 18,547 14,775 15,631 16,410 16,496 17,175 17,319 19,362
Common Stock		 7,372 7,342 7,452 7,287 7,104 6,908 6,675 6,175 5,991 5,014 4,746
Retained Earnings		 8,138 9,174 10,142 11,242 7,648 8,694 9,607 10,253 11,286 12,369 14,591
Accumulated Other Comprehensive Income / (Loss)		 -40 -3.00 -14 17 23 29 128 68 -101 -65 25

Annual Metrics And Ratios for Vertex Pharmaceuticals

This table displays calculated financial ratios and metrics derived from Vertex Pharmaceuticals' official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 77.86% 64.89% 46.20% 22.46% 36.59% 49.08% 22.06% 17.91% 10.51% 11.66% 8.90%
EBITDA Growth		 31.32% 118.35% 36.83% 584.48% 111.75% 117.99% -10.72% 47.32% -7.00% -102.80% 4,013.60%
EBIT Growth		 28.46% 102.97% 197.60% 1,415.40% 119.07% 126.88% -11.61% 48.64% -8.05% -108.37% 1,405.83%
NOPAT Growth		 32.57% 102.13% 1,140.37% 2,459.97% -54.26% 145.97% -3.97% 41.67% -6.33% -84.15% 607.83%
Net Income Growth		 20.81% 85.71% 209.05% 2,177.63% -43.62% 130.43% -13.63% 41.84% 8.96% -114.80% 838.09%
EPS Growth		 26.43% 80.09% 326.09% 677.88% -44.25% 128.16% -12.44% 42.29% 8.35% -114.97% 836.54%
Operating Cash Flow Growth		 36.24% 164.61% 257.87% 50.34% 23.54% 107.32% -18.75% 56.23% -14.35% -113.93% 837.19%
Free Cash Flow Firm Growth		 0.31% 120.88% 131.54% 235.55% -99.97% 992,161.33% -32.73% 59.52% -20.77% -135.25% 392.06%
Invested Capital Growth		 480.25% -37.46% -101.75% 38,112.63% 79.72% -10.94% 26.98% 17.35% 27.87% 34.20% 22.36%
Revenue Q/Q Growth		 36.02% 2.45% 8.40% -15.62% 46.72% 3.58% 6.24% 2.64% 2.23% 3.71% 2.37%
EBITDA Q/Q Growth		 19.78% 470.30% 472.61% -10.77% 76.55% 7.48% -0.46% 2.93% -0.08% 15.11% 5.05%
EBIT Q/Q Growth		 17.72% 117.14% 198.77% -12.15% 85.75% 7.65% -0.64% 2.92% -0.62% 9.22% 5.08%
NOPAT Q/Q Growth		 17.63% 111.91% 231.78% 257.20% -53.76% 0.79% 13.72% 0.18% 1.44% 0.44% 7.70%
Net Income Q/Q Growth		 15.29% 54.93% 432.48% 214.23% -44.46% 0.78% 7.62% 1.49% 4.32% -11.63% 7.57%
EPS Q/Q Growth		 15.69% 48.89% 33.33% 223.60% -45.40% 0.59% 8.29% 1.26% 4.28% -4.52% 7.13%
Operating Cash Flow Q/Q Growth		 36.60% 95.90% 10.86% 7.36% 9.14% 1.42% 23.53% 2.06% -19.26% 41.54% -2.33%
Free Cash Flow Firm Q/Q Growth		 15.58% 497.26% -9.93% 28.51% -99.97% 57.12% 21.71% 9.24% -33.51% 19.54% 0.03%
Invested Capital Q/Q Growth		 -5.45% -35.23% -137.51% 1,331.31% 81.13% 2.29% 0.21% -7.27% 33.96% 17.78% 19.52%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 88.65% 87.64% 88.95% 86.56% 86.84% 88.14% 88.06% 87.90% 87.21% 86.11% 86.24%
EBITDA Margin		 -39.84% 4.43% 4.15% 23.19% 35.95% 52.57% 38.45% 48.05% 40.43% -1.01% 36.46%
Operating Margin		 -45.23% 0.58% 4.95% 20.84% 28.77% 46.03% 36.73% 48.23% 38.83% -2.11% 34.77%
EBIT Margin		 -45.88% 0.83% 1.68% 20.82% 33.38% 50.81% 36.80% 46.39% 38.60% -2.89% 34.71%
Profit (Net Income) Margin		 -56.98% -4.94% 3.68% 68.48% 28.27% 43.70% 30.92% 37.20% 36.68% -4.86% 32.94%
Tax Burden Percent		 105.45% 124.74% -584.07% 347.71% 84.36% 87.00% 85.78% 78.49% 82.64% -215.53% 85.14%
Interest Burden Percent		 117.78% -478.93% -37.48% 94.62% 100.37% 98.86% 97.97% 102.17% 114.98% -77.90% 111.47%
Effective Tax Rate		 0.00% 0.00% 0.00% -247.71% 15.64% 13.00% 14.22% 21.51% 17.36% 315.53% 14.86%
Return on Invested Capital (ROIC)		 -183.52% 2.82% 92.43% 349.55% 57.01% 115.45% 103.69% 120.81% 91.98% 11.09% 61.63%
ROIC Less NNEP Spread (ROIC-NNEP)		 -155.02% 12.21% 92.10% 354.20% 52.24% 111.12% 104.32% 121.45% 88.30% 19.41% 58.23%
Return on Net Nonoperating Assets (RNNOA)		 129.80% -9.73% -87.01% -285.11% -34.64% -78.74% -78.76% -93.14% -68.99% -14.24% -39.09%
Return on Equity (ROE)		 -53.72% -6.91% 5.42% 64.44% 22.37% 36.71% 24.93% 27.67% 22.99% -3.15% 22.54%
Cash Return on Invested Capital (CROIC)		 -324.72% 48.91% 0.00% 74.05% 0.02% 127.02% 79.92% 104.84% 67.51% -18.11% 41.51%
Operating Return on Assets (OROA)		 -19.60% 0.52% 1.30% 12.96% 19.08% 31.42% 22.13% 26.23% 18.64% -1.41% 17.29%
Return on Assets (ROA)		 -24.34% -3.11% 2.84% 42.63% 16.16% 27.02% 18.60% 21.04% 17.71% -2.37% 16.41%
Return on Common Equity (ROCE)		 -49.43% -5.96% 5.11% 64.31% 22.37% 36.71% 24.93% 27.67% 22.99% -3.15% 22.54%
Return on Equity Simple (ROE_SIMPLE)		 -62.57% -7.27% 4.52% 47.06% 19.34% 31.22% 23.19% 23.88% 20.59% -3.26% 0.00%
Net Operating Profit after Tax (NOPAT)		 -327 6.96 86 2,208 1,010 2,485 2,386 3,381 3,167 502 3,553
NOPAT Margin		 -31.66% 0.41% 3.47% 72.47% 24.27% 40.04% 31.51% 37.86% 32.09% 4.56% 29.61%
Net Nonoperating Expense Percent (NNEP)		 -28.51% -9.39% 0.34% -4.66% 4.77% 4.33% -0.63% -0.64% 3.68% -8.32% 3.40%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - 24.30% 18.01% 3.06% 19.04%
Cost of Revenue to Revenue		 11.35% 12.36% 11.05% 13.44% 13.16% 11.86% 11.94% 12.10% 12.79% 13.89% 13.76%
SG&A Expenses to Revenue		 36.48% 25.43% 19.93% 18.30% 15.82% 12.42% 11.09% 10.58% 11.52% 13.29% 14.61%
R&D to Revenue		 96.47% 61.55% 53.23% 46.48% 42.15% 29.48% 40.28% 29.74% 37.39% 74.94% 33.68%
Operating Expenses to Revenue		 133.88% 87.05% 83.99% 65.72% 58.07% 42.11% 51.33% 39.67% 48.38% 88.23% 51.47%
Earnings before Interest and Taxes (EBIT)		 -474 14 42 634 1,390 3,153 2,787 4,143 3,809 -319 4,166
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -411 75 103 707 1,497 3,262 2,913 4,291 3,991 -112 4,375
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 32.89 15.80 18.68 9.55 9.25 7.07 5.53 5.33 5.96 6.32 6.16
Price to Tangible Book Value (P/TBV)		 51.08 22.23 19.44 9.66 12.02 8.44 6.42 6.07 6.70 7.15 6.71
Price to Revenue (P/Rev)		 29.95 10.73 15.23 13.90 13.53 9.90 7.37 8.30 10.62 9.41 9.58
Price to Earnings (P/E)		 0.00 0.00 143.84 20.20 47.84 22.66 23.84 22.31 28.97 0.00 29.10
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.70% 4.95% 2.09% 4.41% 4.19% 4.48% 3.45% 0.00% 3.44%
Enterprise Value to Invested Capital (EV/IC)		 99.75 91.09 0.00 30.92 23.05 27.02 18.76 20.93 23.58 17.83 16.19
Enterprise Value to Revenue (EV/Rev)		 29.36 10.17 14.41 12.86 12.61 8.83 6.38 7.08 9.23 8.39 8.56
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 229.33 347.36 55.43 35.08 16.80 16.59 14.74 22.84 0.00 23.47
Enterprise Value to EBIT (EV/EBIT)		 0.00 1,230.35 856.84 61.76 37.77 17.38 17.33 15.27 23.92 0.00 24.66
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 2,488.22 415.77 17.74 51.96 22.05 20.24 18.70 28.78 184.24 28.91
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 73.30 42.45 30.84 33.45 16.84 18.27 15.31 25.76 0.00 28.28
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 143.31 128.28 41.76 190,518.77 20.04 26.27 21.55 39.20 0.00 42.91
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.32 0.26 0.02 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.24 0.03 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.84 -0.80 -0.94 -0.80 -0.66 -0.71 -0.76 -0.77 -0.78 -0.73 -0.67
Leverage Ratio		 2.21 2.22 1.91 1.51 1.38 1.36 1.34 1.32 1.30 1.33 1.37
Compound Leverage Factor		 2.60 -10.63 -0.71 1.43 1.39 1.34 1.31 1.34 1.49 -1.04 1.53
Debt to Total Capital		 24.43% 20.94% 2.06% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 6.00% 18.87% 1.08% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 18.43% 2.07% 0.98% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 10.62% 10.73% 0.66% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 64.95% 68.33% 97.28% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 -0.86 4.70 0.42 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 1.87 -15.22 -19.81 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 -0.65 0.46 0.20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 -1.08 50.96 0.50 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 2.35 -165.08 -23.71 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 -0.82 5.03 0.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 10.48 5.47 14.47 14.71 16.37 14.19 12.30 12.94 14.39 11.52 11.98
Noncontrolling Interest Sharing Ratio		 7.98% 13.79% 5.78% 0.21% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 2.78 2.31 3.28 3.43 3.61 4.33 4.46 4.83 3.99 2.69 2.90
Quick Ratio		 2.40 2.06 2.94 3.19 3.33 4.02 4.04 4.46 3.60 2.17 2.24
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -578 121 280 938 0.28 2,734 1,839 2,934 2,325 -820 2,394
Operating Cash Flow to CapEx		 -806.66% 417.42% 849.86% 1,330.85% 2,081.30% 1,252.31% 1,124.89% 2,017.54% 1,765.12% -165.47% 829.84%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 4.03 12.95 0.00 46.98 29.91 53.54 52.71 -26.78 179.96
Operating Cash Flow to Interest Expense		 0.00 0.00 12.19 17.53 26.83 55.90 42.98 75.36 80.21 -16.10 273.04
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 10.76 16.21 25.54 51.44 39.16 71.63 75.67 -25.83 240.14
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.43 0.63 0.77 0.62 0.57 0.62 0.60 0.57 0.48 0.49 0.50
Accounts Receivable Turnover		 8.27 9.10 10.33 8.82 7.98 8.17 7.49 6.93 6.57 6.95 6.55
Inventory Turnover		 2.66 3.12 2.90 3.47 3.75 3.28 2.85 2.66 2.10 1.57 1.14
Fixed Asset Turnover		 1.46 2.44 3.35 3.81 0.00 0.00 0.00 8.11 8.70 9.23 8.73
Accounts Payable Turnover		 1.60 3.09 4.06 4.43 5.52 6.07 5.17 4.33 3.77 3.94 3.78
Days Sales Outstanding (DSO)		 44.16 40.12 35.33 41.38 45.73 44.67 48.72 52.70 55.58 52.54 55.69
Days Inventory Outstanding (DIO)		 137.17 116.90 125.66 105.25 97.23 111.12 127.94 137.46 173.42 231.83 319.64
Days Payable Outstanding (DPO)		 227.65 118.27 89.85 82.43 66.16 60.16 70.66 84.28 96.70 92.76 96.67
Cash Conversion Cycle (CCC)		 -46.32 38.75 71.14 64.20 76.81 95.63 106.00 105.88 132.30 191.62 278.66
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 304 190 -3.33 1,267 2,277 2,028 2,575 3,022 3,864 5,186 6,345
Invested Capital Turnover		 5.80 6.89 26.66 4.82 2.35 2.88 3.29 3.19 2.87 2.44 2.08
Increase / (Decrease) in Invested Capital		 251 -114 -193 1,270 1,010 -249 547 447 842 1,322 1,160
Enterprise Value (EV)		 30,305 17,306 35,868 39,180 52,495 54,798 48,309 63,237 91,133 92,483 102,706
Market Capitalization		 30,919 18,273 37,900 42,349 56,303 61,457 55,834 74,127 104,849 103,707 115,026
Book Value per Share		 $3.83 $4.66 $8.02 $17.36 $23.66 $33.41 $39.72 $54.20 $68.22 $63.72 $73.57
Tangible Book Value per Share		 $2.46 $3.31 $7.71 $17.16 $18.21 $28.01 $34.21 $47.61 $60.74 $56.29 $67.61
Total Capital		 1,447 1,693 2,085 4,435 6,085 8,687 10,100 13,913 17,580 16,410 18,666
Total Debt		 354 354 43 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 267 35 20 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -768 -1,148 -2,046 -3,168 -3,808 -6,659 -7,525 -10,891 -13,716 -11,224 -12,320
Capital Expenditures (CapEx)		 45 57 99 95 75 260 235 205 200 298 438
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -134 -124 -224 -445 -320 -403 -106 -286 -622 -84 732
Debt-free Net Working Capital (DFNWC)		 988 1,358 1,864 2,723 3,488 6,256 7,419 10,493 10,597 6,032 7,340
Net Working Capital (NWC)		 901 1,039 1,842 2,723 3,488 6,256 7,419 10,493 10,597 6,032 7,340
Net Nonoperating Expense (NNE)		 261 91 -5.36 121 -167 -227 44 59 -453 1,038 -400
Net Nonoperating Obligations (NNO)		 -790 -1,148 -2,046 -3,168 -3,808 -6,659 -7,525 -10,891 -13,716 -11,224 -12,320
Total Depreciation and Amortization (D&A)		 62 61 61 72 107 110 126 148 181 207 210
Debt-free, Cash-free Net Working Capital to Revenue		 -12.94% -7.28% -9.02% -14.62% -7.69% -6.49% -1.40% -3.20% -6.30% -0.76% 6.10%
Debt-free Net Working Capital to Revenue		 95.69% 79.81% 74.91% 89.34% 83.79% 100.81% 97.94% 117.49% 107.37% 54.73% 61.16%
Net Working Capital to Revenue		 87.28% 61.04% 74.00% 89.34% 83.79% 100.81% 97.94% 117.49% 107.37% 54.73% 61.16%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $4.58 $10.44 $9.09 $12.97 $14.05 ($2.08) $15.46
Adjusted Weighted Average Basic Shares Outstanding		 0.00 0.00 0.00 0.00 256.73M 259.84M 257.70M 256.10M 257.70M 257.90M 255.70M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $4.51 $10.29 $9.01 $12.82 $13.89 ($2.08) $15.32
Adjusted Weighted Average Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 260.67M 263.40M 259.90M 259.10M 260.50M 257.90M 258M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 0.00 0.00 0.00 0.00 259.27M 259.96M 254.58M 257.09M 258.31M 256.79M 254.03M
Normalized Net Operating Profit after Tax (NOPAT)		 -325 7.84 275 465 1,014 2,496 2,384 3,336 3,124 -163 3,878
Normalized NOPAT Margin		 -31.51% 0.46% 11.05% 15.25% 24.36% 40.23% 31.47% 37.35% 31.66% -1.48% 32.31%
Pre Tax Income Margin		 -54.03% -3.96% -0.63% 19.70% 33.51% 50.23% 36.05% 47.39% 44.38% 2.26% 38.69%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.60 8.75 23.76 54.17 45.32 75.59 86.38 -10.42 313.20
NOPAT to Interest Expense		 0.00 0.00 1.24 30.47 17.27 42.70 38.80 61.69 71.81 16.40 267.15
EBIT Less CapEx to Interest Expense		 0.00 0.00 -0.83 7.44 22.47 49.71 41.50 71.86 81.83 -20.15 280.30
NOPAT Less CapEx to Interest Expense		 0.00 0.00 -0.19 29.16 15.98 38.23 34.98 57.96 67.27 6.68 234.25
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 16.77% 15.81% 19.88% 60.86% 0.00% 11.81% -219.77% 51.03%

Quarterly Metrics And Ratios for Vertex Pharmaceuticals

This table displays calculated financial ratios and metrics derived from Vertex Pharmaceuticals' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 - - - - - - - - - - 254,034,190.00
DEI Adjusted Shares Outstanding		 - - - - - - - - - - 254,034,190.00
DEI Earnings Per Adjusted Shares Outstanding		 - - - - - - - - - - 4.06
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 6.39% 9.34% 13.30% 6.11% 11.61% 15.66% 2.96% 12.06% 10.99% 9.55% 7.82%
EBITDA Growth		 -9.85% -0.30% 41.84% -425.77% 8.30% 1.92% -43.11% 134.90% 6.75% 19.90% 80.66%
EBIT Growth		 -10.64% -2.36% 42.04% -444.14% 7.55% 3.31% -44.74% 132.91% 7.00% 19.91% 85.81%
NOPAT Growth		 2.27% 6.17% 60.20% -404.04% 4.60% -1.23% -43.08% 137.67% 3.74% 30.93% 68.04%
Net Income Growth		 11.26% 18.31% 57.13% -492.44% 0.98% -5.76% -41.22% 128.74% 3.59% 30.46% 59.59%
EPS Growth		 10.59% 18.15% 56.51% -495.45% 1.01% -2.43% -40.86% 128.66% 4.74% 28.18% 61.45%
Operating Cash Flow Growth		 32.75% -78.25% 45.19% -430.89% 7.99% 149.19% -37.33% 128.59% -9.37% -14.81% 74.39%
Free Cash Flow Firm Growth		 536.14% -102.30% -122.58% -780.57% -143.94% -6,265.72% -656.55% 108.78% 114.68% 83.82% 50.64%
Invested Capital Growth		 -11.49% 27.87% 36.00% 59.43% 52.63% 34.20% 28.66% 12.22% 20.58% 22.36% 23.87%
Revenue Q/Q Growth		 -0.39% 1.38% 6.87% -1.67% 4.77% 5.05% -4.87% 7.02% 3.77% 3.69% -6.37%
EBITDA Q/Q Growth		 -0.48% -2.50% 11.96% -399.86% 133.08% -8.24% -37.51% 83.99% 1.18% 3.06% -5.84%
EBIT Q/Q Growth		 -0.56% -4.26% 13.24% -419.21% 131.08% -8.03% -39.42% 90.09% 1.04% 3.06% -6.13%
NOPAT Q/Q Growth		 12.63% -8.44% 17.39% -351.15% 138.75% -13.54% -32.36% 66.21% 6.72% 9.11% -13.18%
Net Income Q/Q Growth		 13.06% -6.42% 13.50% -426.81% 129.09% -12.67% -29.21% 59.82% 4.84% 9.99% -13.41%
EPS Q/Q Growth		 12.78% -6.55% 13.48% -430.64% 128.81% -9.73% -31.22% 60.24% 5.26% 10.48% -13.36%
Operating Cash Flow Q/Q Growth		 11.81% -81.50% 456.95% -387.28% 136.49% -57.32% 40.08% 31.04% 15.68% -59.88% 186.77%
Free Cash Flow Firm Q/Q Growth		 109.85% -100.61% -893.51% -5,272.78% 86.45% 11.98% -18.08% 162.35% -77.35% -197.03% -260.23%
Invested Capital Q/Q Growth		 0.28% 33.96% 3.35% 14.83% -3.99% 17.78% -0.91% 0.16% 3.15% 19.52% 0.31%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 87.17% 85.38% 87.27% 85.94% 85.84% 85.46% 86.90% 86.25% 86.52% 85.39% 86.85%
EBITDA Margin		 42.85% 41.22% 43.18% -131.68% 41.58% 36.32% 23.86% 41.02% 39.99% 39.75% 39.97%
Operating Margin		 41.80% 39.26% 42.35% -132.85% 40.27% 35.23% 22.75% 38.83% 38.56% 37.80% 38.10%
EBIT Margin		 41.16% 38.87% 41.19% -133.72% 39.66% 34.72% 22.11% 39.27% 38.24% 38.01% 38.10%
Profit (Net Income) Margin		 41.69% 38.48% 40.87% -135.83% 37.71% 31.35% 23.33% 34.84% 35.20% 37.34% 34.53%
Tax Burden Percent		 87.80% 84.42% 85.97% 105.97% 85.40% 80.33% 88.49% 80.51% 83.38% 89.49% 82.32%
Interest Burden Percent		 115.36% 117.26% 115.41% 95.86% 111.34% 112.40% 119.25% 110.20% 110.40% 109.78% 110.09%
Effective Tax Rate		 12.20% 15.58% 14.03% 0.00% 14.60% 19.67% 11.51% 19.49% 16.62% 10.51% 17.68%
Return on Invested Capital (ROIC)		 115.34% 95.00% 107.01% -257.64% 100.30% 68.93% 48.92% 73.35% 77.61% 70.42% 66.63%
ROIC Less NNEP Spread (ROIC-NNEP)		 114.28% 93.91% 106.09% -247.69% 99.55% 68.22% 48.24% 72.39% 76.81% 69.47% 65.85%
Return on Net Nonoperating Assets (RNNOA)		 -90.52% -73.38% -83.79% 186.57% -76.98% -50.06% -35.67% -50.34% -54.17% -46.63% -44.73%
Return on Equity (ROE)		 24.82% 21.63% 23.22% -71.06% 23.31% 18.88% 13.26% 23.01% 23.45% 23.79% 21.90%
Cash Return on Invested Capital (CROIC)		 113.82% 67.51% 71.49% -24.50% -27.95% -18.11% -36.45% 55.53% 49.28% 41.51% 47.02%
Operating Return on Assets (OROA)		 20.68% 18.77% 19.56% -68.30% 19.17% 16.91% 10.49% 20.31% 19.03% 18.94% 18.86%
Return on Assets (ROA)		 20.94% 18.58% 19.41% -69.37% 18.23% 15.27% 11.07% 18.01% 17.52% 18.60% 17.09%
Return on Common Equity (ROCE)		 24.82% 21.63% 23.22% -71.06% 23.31% 18.88% 13.26% 23.01% 23.45% 23.79% 21.90%
Return on Equity Simple (ROE_SIMPLE)		 21.01% 0.00% 21.67% -3.32% -3.07% 0.00% -5.99% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 911 834 980 -2,460 953 824 558 927 989 1,079 937
NOPAT Margin		 36.70% 33.14% 36.41% -93.00% 34.39% 28.30% 20.13% 31.26% 32.15% 33.83% 31.37%
Net Nonoperating Expense Percent (NNEP)		 1.06% 1.09% 0.92% -9.95% 0.74% 0.71% 0.69% 0.96% 0.81% 0.95% 0.78%
Return On Investment Capital (ROIC_SIMPLE)		 - 4.75% - - - 5.02% 3.38% 5.40% 5.71% 5.78% 4.84%
Cost of Revenue to Revenue		 12.83% 14.62% 12.73% 14.06% 14.16% 14.54% 13.10% 13.75% 13.48% 14.61% 13.15%
SG&A Expenses to Revenue		 10.62% 14.66% 12.74% 14.07% 13.41% 12.97% 14.31% 14.32% 14.47% 15.27% 16.53%
R&D to Revenue		 34.70% 33.46% 32.18% 204.71% 32.14% 37.30% 36.08% 33.08% 33.55% 32.29% 32.21%
Operating Expenses to Revenue		 45.37% 46.12% 44.92% 218.79% 45.56% 50.23% 64.15% 47.43% 47.96% 47.59% 48.75%
Earnings before Interest and Taxes (EBIT)		 1,022 979 1,108 -3,538 1,099 1,011 613 1,164 1,176 1,212 1,138
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 1,064 1,038 1,162 -3,484 1,153 1,058 661 1,216 1,230 1,268 1,194
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 5.44 5.96 5.82 8.19 7.68 6.32 7.55 6.66 5.80 6.16 5.86
Price to Tangible Book Value (P/TBV)		 6.06 6.70 6.50 9.41 8.75 7.15 8.32 7.30 6.35 6.71 6.35
Price to Revenue (P/Rev)		 9.30 10.62 10.60 11.70 11.30 9.41 11.22 10.01 8.57 9.58 9.28
Price to Earnings (P/E)		 25.87 28.97 26.86 0.00 0.00 0.00 0.00 31.43 27.32 29.10 26.15
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 3.87% 3.45% 3.72% 0.00% 0.00% 0.00% 0.00% 3.18% 3.66% 3.44% 3.82%
Enterprise Value to Invested Capital (EV/IC)		 26.39 23.58 23.39 24.15 24.71 17.83 22.02 19.88 16.65 16.19 15.78
Enterprise Value to Revenue (EV/Rev)		 7.88 9.23 9.17 10.72 10.24 8.39 10.19 8.96 7.54 8.56 8.22
Enterprise Value to EBITDA (EV/EBITDA)		 19.06 22.84 21.56 0.00 0.00 0.00 0.00 25.03 21.23 23.47 20.46
Enterprise Value to EBIT (EV/EBIT)		 19.86 23.92 22.58 0.00 0.00 0.00 0.00 26.32 22.30 24.66 21.41
Enterprise Value to NOPAT (EV/NOPAT)		 24.38 28.78 26.43 139.25 217.72 184.24 0.00 31.35 26.80 28.91 25.55
Enterprise Value to Operating Cash Flow (EV/OCF)		 17.38 25.76 23.69 0.00 0.00 0.00 0.00 26.60 23.78 28.28 23.69
Enterprise Value to Free Cash Flow (EV/FCFF)		 21.77 39.20 37.71 0.00 0.00 0.00 0.00 37.86 36.94 42.91 37.13
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Financial Leverage		 -0.79 -0.78 -0.79 -0.75 -0.77 -0.73 -0.74 -0.70 -0.71 -0.67 -0.68
Leverage Ratio		 1.30 1.30 1.30 1.34 1.37 1.33 1.34 1.38 1.43 1.37 1.38
Compound Leverage Factor		 1.50 1.52 1.50 1.28 1.52 1.50 1.59 1.52 1.58 1.51 1.52
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%
Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Altman Z-Score		 12.13 13.98 13.78 14.33 12.40 11.72 13.23 11.60 9.61 11.60 11.29
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 4.08 3.99 3.50 2.52 2.47 2.69 2.65 2.52 2.36 2.90 3.02
Quick Ratio		 3.74 3.60 3.15 2.10 2.08 2.17 2.12 2.00 1.84 2.24 2.38
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 1,286 -7.81 -78 -4,170 -565 -497 -587 366 83 -80 -290
Operating Cash Flow to CapEx		 3,124.14% 403.79% 1,910.23% -5,440.00% 2,023.34% 631.32% 2,012.04% 736.51% 1,219.45% 333.33% 1,070.54%
Free Cash Flow to Firm to Interest Expense		 117.96 -0.74 -7.46 -421.19 -75.33 -177.60 -195.72 98.95 25.13 -24.38 0.00
Operating Cash Flow to Interest Expense		 116.37 22.13 125.63 -379.15 182.64 208.79 272.97 290.03 376.18 150.91 0.00
Operating Cash Flow Less CapEx to Interest Expense		 112.64 16.65 119.06 -386.12 173.61 175.71 259.40 250.65 345.33 105.64 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.50 0.48 0.47 0.51 0.48 0.49 0.47 0.52 0.50 0.50 0.50
Accounts Receivable Turnover		 6.60 6.57 6.10 6.44 6.46 6.95 6.17 6.43 6.34 6.55 6.43
Inventory Turnover		 2.19 2.10 1.98 1.85 1.67 1.57 1.43 1.31 1.19 1.14 1.08
Fixed Asset Turnover		 8.61 8.70 8.92 8.90 9.48 9.23 8.99 9.01 9.22 8.73 8.41
Accounts Payable Turnover		 4.68 3.77 3.97 4.06 3.82 3.94 3.89 4.12 3.94 3.78 3.60
Days Sales Outstanding (DSO)		 55.27 55.58 59.87 56.71 56.49 52.54 59.16 56.73 57.55 55.69 56.78
Days Inventory Outstanding (DIO)		 166.91 173.42 183.91 197.73 218.80 231.83 255.68 277.68 307.05 319.64 339.40
Days Payable Outstanding (DPO)		 77.93 96.70 92.02 89.99 95.48 92.76 93.72 88.60 92.58 96.67 101.43
Cash Conversion Cycle (CCC)		 144.25 132.30 151.75 164.45 179.82 191.62 221.13 245.81 272.02 278.66 294.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 2,885 3,864 3,994 4,586 4,403 5,186 5,139 5,147 5,309 6,345 6,365
Invested Capital Turnover		 3.14 2.87 2.94 2.77 2.92 2.44 2.43 2.35 2.41 2.08 2.12
Increase / (Decrease) in Invested Capital		 -374 842 1,057 1,710 1,518 1,322 1,145 561 906 1,160 1,227
Enterprise Value (EV)		 76,122 91,133 93,423 110,766 108,810 92,483 113,139 102,297 88,403 102,706 100,440
Market Capitalization		 89,750 104,849 107,975 120,955 120,038 103,707 124,497 114,326 100,413 115,026 113,436
Book Value per Share		 $63.98 $68.22 $71.80 $57.25 $60.56 $63.72 $64.24 $66.88 $67.55 $73.57 $76.22
Tangible Book Value per Share		 $57.43 $60.74 $64.36 $49.79 $53.12 $56.29 $58.29 $60.95 $61.63 $67.61 $70.29
Total Capital		 16,513 17,580 18,547 14,775 15,631 16,410 16,496 17,175 17,319 18,666 19,362
Total Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Long-Term Debt		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Debt		 -13,628 -13,716 -14,553 -10,189 -11,228 -11,224 -11,358 -12,029 -12,010 -12,320 -12,997
Capital Expenditures (CapEx)		 41 58 68 69 68 93 41 146 102 149 133
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -832 -622 -679 -401 -694 -84 24 -93 -193 732 603
Debt-free Net Working Capital (DFNWC)		 11,096 10,597 9,493 5,394 5,831 6,032 6,226 6,290 6,094 7,340 7,850
Net Working Capital (NWC)		 11,096 10,597 9,493 5,394 5,831 6,032 6,226 6,290 6,094 7,340 7,850
Net Nonoperating Expense (NNE)		 -124 -134 -120 1,133 -92 -89 -89 -106 -94 -112 -95
Net Nonoperating Obligations (NNO)		 -13,628 -13,716 -14,553 -10,189 -11,228 -11,224 -11,358 -12,029 -12,010 -12,320 -12,997
Total Depreciation and Amortization (D&A)		 42 59 54 54 53 47 48 52 54 56 56
Debt-free, Cash-free Net Working Capital to Revenue		 -8.62% -6.30% -6.66% -3.88% -6.53% -0.76% 0.22% -0.82% -1.64% 6.10% 4.94%
Debt-free Net Working Capital to Revenue		 114.94% 107.37% 93.20% 52.18% 54.88% 54.73% 56.09% 55.08% 51.98% 61.16% 64.25%
Net Working Capital to Revenue		 114.94% 107.37% 93.20% 52.18% 54.88% 54.73% 56.09% 55.08% 51.98% 61.16% 64.25%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $4.01 $3.77 $4.26 ($13.92) $4.05 $3.53 $2.52 $4.02 $4.24 $4.68 $4.06
Adjusted Weighted Average Basic Shares Outstanding		 258M 257.70M 258.20M 258.10M 258M 257.90M 256.90M 256.70M 255.60M 255.70M 254.10M
Adjusted Diluted Earnings per Share		 $3.97 $3.71 $4.21 ($13.92) $4.01 $3.62 $2.49 $3.99 $4.20 $4.64 $4.02
Adjusted Weighted Average Diluted Shares Outstanding		 260.60M 260.50M 261.10M 258.10M 261M 257.90M 259.50M 258.90M 257.60M 258M 256.30M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 257.68M 258.31M 258.05M 258.10M 257.53M 256.79M 256.80M 256.39M 253.72M 254.03M 253.81M
Normalized Net Operating Profit after Tax (NOPAT)		 912 792 980 -2,460 954 823 895 927 987 1,080 937
Normalized NOPAT Margin		 36.74% 31.46% 36.40% -92.98% 34.40% 28.27% 32.30% 31.28% 32.10% 33.85% 31.37%
Pre Tax Income Margin		 47.48% 45.58% 47.54% -128.18% 44.16% 39.03% 26.37% 43.28% 42.22% 41.72% 41.95%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 93.78 92.33 106.57 -357.35 146.59 361.11 204.17 314.68 356.48 367.39 0.00
NOPAT to Interest Expense		 83.62 78.73 94.19 -248.51 127.11 294.37 185.85 250.46 299.70 327.01 0.00
EBIT Less CapEx to Interest Expense		 90.06 86.85 99.99 -364.32 137.56 328.04 190.60 275.30 325.64 322.12 0.00
NOPAT Less CapEx to Interest Expense		 79.89 73.24 87.61 -255.48 118.09 261.30 172.28 211.08 268.85 281.74 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 8.02% 11.81% 10.60% -146.56% -189.39% -219.77% -148.85% 42.43% 62.77% 51.03% 44.45%

Financials Breakdown Chart

Vertex Pharmaceuticals Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Vertex Pharmaceuticals' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Vertex Pharmaceuticals' net income appears to be on an upward trend, with a most recent value of $3.95 billion in 2025, falling from -$588.18 million in 2015. The previous period was -$535.60 million in 2024. See where experts think Vertex Pharmaceuticals is headed by visiting Vertex Pharmaceuticals' forecast page.

Vertex Pharmaceuticals' total operating income in 2025 was $4.17 billion, based on the following breakdown:
  • Total Gross Profit: $10.35 billion
  • Total Operating Expenses: $6.18 billion

Over the last 10 years, Vertex Pharmaceuticals' total revenue changed from $1.03 billion in 2015 to $12.00 billion in 2025, a change of 1,062.5%.

Vertex Pharmaceuticals' total liabilities were at $6.98 billion at the end of 2025, a 13.9% increase from 2024, and a 396.6% increase since 2015.

In the past 10 years, Vertex Pharmaceuticals' cash and equivalents has ranged from $714.77 million in 2015 to $10.50 billion in 2022, and is currently $5.08 billion as of their latest financial filing in 2025.

Over the last 10 years, Vertex Pharmaceuticals' book value per share changed from 3.83 in 2015 to 73.57 in 2025, a change of 1,823.2%.


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Financial statements for NASDAQ:VRTX last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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