Vertex Pharmaceuticals

Health Care Biotechnology Boston, Massachusetts Last filing Feb 13, 2026 · FY2025

                    Revenue
                    FY2025
                
$12.0B
                    3y CAGR +10.4%
                    
                    P75
                    
                    +8.9%
                    
                    Net income
                    FY2025
                
$4.0B
                    Net margin +32.9%
                    
                    P100
                    
                    +838.1%
                    
                    Total assets
                    FY2025
                
$25.6B
                    ROA +15.4%
                    
                    P90
                    
                    +13.8%
                    
                    Operating cash flow
                    FY2025
                
$3.6B
                    FCF margin +26.6%
                    
                    P92
                    
                    +837.2%

19 yrs · FY2003–FY2025 4 gaps (2007–2004) 9 filed · 0 derived · 0 blank

1Y 3Y 5Y 10Y

Dollars % of revenue % of assets YoY % CAGR

Running CAGR since the earliest displayed year.

Balance Sheet

Assets, liabilities, and equity

27 accounts · 5 years

Total assets $25.6B

Total liabilities $7.0B

Shareholders equity $18.7B

Account	2025	2024	2023	2022	2021
Assets
Cash and Cash Equivalents	-7.0%	-12.4%	+23.5%	+54.6%	—
Short Term Investments	-48.2%	-45.9%	-55.4%	-49.4%	—
Accounts Receivable	+15.9%	+12.3%	+17.3%	+26.9%	—
Inventory	+47.8%	+50.6%	+44.6%	+30.4%	—
Prepaid Expenses	+11.8%	+6.8%	+6.9%	+1.4%	—
Total Current Assets	+4.0%	+0.1%	+21.6%	+38.4%	—
Property,Plant and Equipment	+8.6%	+3.9%	+2.9%	+1.3%	—
Operating Lease Assets	+47.5%	+60.2%	-5.7%	+5.2%	—
Goodwill	+2.1%	+2.8%	+4.2%	+8.6%	—
Intangible Assets	+1.5%	+27.3%	+44.9%	+50.9%	—
Deferred Tax Assets	+32.7%	+35.6%	+39.3%	+33.4%	—
Other Noncurrent Assets	+82.8%	+108.2%	+184.3%	+370.9%	—
Total Assets	+17.5%	+18.8%	+30.1%	+35.1%	—
Liabilities
Accounts Payable	+24.0%	+28.4%	+36.8%	+55.8%	—
Accrued Liabilities	+15.3%	+18.4%	+25.8%	+26.7%	—
Other Current Liabilities	+12.4%	+10.6%	+40.2%	+16.1%	—
Total Current Liabilities	+15.9%	+18.5%	+28.7%	+28.0%	—
Operating Lease Liabilities Noncurrent	+48.7%	+60.0%	-3.9%	+0.6%	—
Other Noncurrent Liabilities	+81.6%	+97.6%	+174.1%	+487.2%	—
Total Liabilities	+20.3%	+22.5%	+24.3%	+27.2%	—
Equity
Preferred Stock	—	—	—	—	—
Common Stock	+0.0%	+1.3%	+2.0%	+4.0%	—
Additional Paid In Capital	-7.1%	-1.0%	+4.1%	+7.3%	—
Retained Earnings	+43.5%	+44.2%	+78.0%	+103.8%	—
Accumulated Other Comprehensive Income	—	+100.3%	—	-95.0%	—
Total Stockholders Equity	+16.6%	+17.6%	+31.9%	+37.7%	—
Total Liabilitiesand Equity	+17.5%	+18.8%	+30.1%	+35.1%	—

Income Statement

Revenue, expense, and profitability

18 accounts · 5 years

Revenue $12.0B

Operating income $4.2B

Net income $4.0B

Account	2025	2024	2023	2022	2021
IncomeStatement
Revenues Total Revenue	+12.2%	+13.3%	+14.1%	+17.9%	—
Expenses Cost of Revenue	+16.2%	+19.2%	+18.1%	+19.5%	—
Expenses Research and Development	+6.4%	+6.0%	+1.8%	-16.7%	—
Expenses Selling,General and Administrative	+20.2%	+20.3%	+16.3%	+12.5%	—
Expenses Depreciation and Amortization	+13.7%	+18.2%	+20.1%	+18.1%	—
Expenses Share Based Compensation	+11.6%	+16.5%	+14.7%	+11.3%	—
Expenses Operating Expenses	+13.1%	+32.9%	+12.2%	-3.5%	—
Other Income Expense Operating Income	+10.7%	—	+17.4%	+54.8%	—
Other Income Expense Interest Expense	-27.2%	-13.6%	-3.5%	+15.6%	—
Other Income Expense Other Income/expense	—	—	—	—	—
Other Income Expense Income Before Tax	+14.2%	-55.0%	+26.7%	+55.0%	—
Income Tax Income Tax Expense	+15.5%	+26.4%	+39.9%	+134.5%	—
net Income net Income	+14.0%	—	+24.3%	+41.8%	—
net Income Comprehensive Income	+11.9%	—	+21.9%	+36.3%	—
Earnings Per Share Basic Eps	+14.2%	—	+24.3%	+42.7%	—
Earnings Per Share Diluted Eps	+14.2%	—	+24.2%	+42.3%	—
Earnings Per Share Weighted Average Shares Basic	-0.2%	+0.0%	+0.0%	-0.6%	—
Earnings Per Share Weighted Average Shares Diluted	-0.2%	-0.3%	+0.1%	-0.3%	—

Cash Flow Statement

Operating, investing, and financing flows

21 accounts · 5 years

Operating cash flow $3.6B

Investing cash flow $-945.4M

Financing cash flow $-2.3B

Account	2025	2024	2023	2022	2021
CashFlow
Operating Activities net Income	+14.0%	—	+24.3%	+41.8%	—
Operating Activities Depreciation and Amortization	+13.7%	+18.2%	+20.1%	+18.1%	—
Operating Activities Stock Based Compensation	+11.6%	+16.5%	+14.7%	+11.3%	—
Operating Activities Deferred Income Taxes	—	—	—	—	—
Operating Activities Changes In Operating Assets and Liabilities	+27.7%	+64.0%	+42.8%	+91.8%	—
Operating Activities Other Non Cash Items	+72.4%	+33.2%	+252.6%	+2869.6%	—
Operating Activities net Cash From Operating Activities	+8.3%	—	+15.7%	+56.2%	—
Investing Activities Capital Expenditures	+16.8%	+8.2%	-7.7%	-12.9%	—
Investing Activities Purchases of Investments	+86.5%	+141.5%	+167.7%	+31.1%	—
Investing Activities Proceeds From Sale of Investments	+85.4%	+107.6%	+29.6%	+84.3%	—
Investing Activities Other Investing Activities	—	—	—	—	—
Investing Activities net Cash From Investing Activities	—	—	—	—	—
Financing Activities Repurchase of Common Stock	+9.1%	-6.2%	-45.2%	—	—
Financing Activities Proceeds From Stock Issuance	-3.5%	-8.0%	+12.2%	+125.2%	—
Financing Activities Tax Withholding On Stock Based Compensation	+28.4%	+43.9%	+29.0%	+26.6%	—
Financing Activities Other Financing Activities	-10.2%	+2.8%	-43.8%	-38.6%	—
Financing Activities net Cash From Financing Activities	—	—	—	—	—
Cash Reconciliation Effect of Exchange Rate On Cash	—	—	—	—	—
Cash Reconciliation net Change In Cash	-10.7%	—	—	+357.6%	—
Cash Reconciliation Cash At Beginning of Period	-7.0%	-12.4%	+23.5%	+54.6%	—
Cash Reconciliation Cash At End of Period	-7.0%	-12.4%	+23.5%	+54.6%	—

Key Ratios

Margins, returns, liquidity, leverage, efficiency

Computed at import · 5 years

Ratio	2025	2024	2023	2022	2021
Profitability
Gross margin	+86.2%	+86.1%	+87.2%	+87.9%	+88.1%
Operating margin	+34.8%	-2.1%	+38.8%	+48.2%	+36.7%
Net margin	+32.9%	-4.9%	+36.7%	+37.2%	+30.9%
FCF margin	+26.6%	-7.2%	+33.8%	+44.0%	+31.8%
Growth
Revenue CAGR (3y)	+10.4%	+13.3%	+16.7%	+29.0%	+35.5%
Returns
ROE	+21.2%	-3.3%	+20.6%	+23.9%	+23.2%
ROA	+15.4%	-2.4%	+15.9%	+18.3%	+17.4%
ROIC	—	—	—	—	—
Liquidity
Current ratio	2.90x	2.69x	3.99x	4.83x	4.46x
Quick ratio	1.85x	1.73x	3.36x	4.36x	3.70x
Leverage
D/E	0.37x	0.37x	0.29x	0.30x	0.33x
Interest coverage	313.78x	-7.61x	86.89x	78.60x	58.69x
Efficiency
Asset turnover	0.47x	0.49x	0.43x	0.49x	0.56x
Cash conversion cycle	+333d	+242d	+166d	+112d	+119d

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Vertex Pharmaceuticals

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