VERTEX PHARMACEUTICALS INC / MA VRTX

Healthcare SIC 2834 - Pharmaceutical Preparations NAICS Manufacturing › Chemical Manufacturing › Pharmaceutical and Medicine Manufacturing › Pharmaceutical Preparation Manufacturing derived Nasdaq

We are a global biotechnology company that invests in scientific innovation to create transformative medicines for

people with serious diseases, with a focus on specialty markets. We have approved medicines for cystic fibrosis ("CF"),

sickle cell disease ("SCD"), transfusion dependent beta thalassemia ("TDT"), and acute pain, and we continue to serially

innovate and advance next-generation clinical and research programs in these areas. Our mid- and late-stage clinical pipeline

Last close 523.93 2026-10-23
Market cap $132.80B 2026-06-30 share count
52-week range 403.16 - 560.25

Valuation FY2025 figures against the last close

P/S11.1x
P/E34.2x
P/FCF41.6x
EV/EBITDA30.3x
Dividend yield—
Diluted EPS15.32

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Europe
  • Other
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 7.5B (62.9%) 63% United States Europe, FY2025: 3.5B (28.8%) 29% Europe Other, FY2025: 992.4M (8.3%) 8% Other FY2024 United States, FY2024: 6.7B (60.7%) 61% Europe, FY2024: 3.5B (31.3%) 31% Other, FY2024: 881.3M (8.0%) 8% FY2023 United States, FY2023: 6B (61.2%) 61% Europe, FY2023: 3.1B (31.5%) 32% Other, FY2023: 719.8M (7.3%) 7%
Region FY2025FY2024FY2023
United States $7.55B $6.68B $6.04B
Europe $3.46B $3.45B $3.11B
Other $992.4M $881.3M $719.8M

As the company reported it, from the “Segment Information - Schedule of Revenue by Geographic Location (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $12.00B$11.02B$9.87B$8.93B$7.57B$6.21B$4.16B$3.05B$2.49B$1.70B
Cost of revenue $1.65B$1.53B$1.26B$1.08B$904.2M$736.3M$547.8M$409.5M$275.1M$210.5M
Gross profit $10.35B$9.49B$8.61B$7.85B$6.67B$5.47B$3.62B$2.64B$2.21B$1.49B
R&D ————$3.05B$1.83B$1.75B$1.42B$1.32B$1.05B
SG&A $1.75B$1.46B$1.14B$944.7M$840.1M$770.5M$658.5M$557.6M$496.1M$432.8M
Total operating expenses $7.83B$11.25B$6.04B$4.62B$4.79B$3.35B$2.97B$2.41B$2.37B$1.69B
Operating income $4.17B-$232.9M$3.83B$4.31B$2.78B$2.86B$1.20B$635.1M$123.2M$9.9M
Interest expense $13.3M$30.6M$44.1M$54.8M$61.5M$58.2M$58.5M$72.5M$69.3M—
Pre-tax income $4.64B$248.5M$4.38B$4.23B$2.73B$3.12B$1.39B$600.2M-$15.7M-$67.4M
Income tax $690.0M$784.1M$760.2M$910.4M$388.3M$405.2M$218.1M$1.49B$107.3M$16.7M
Net income $3.95B-$535.6M$3.62B$3.32B$2.34B$2.71B$1.18B$2.10B$263.5M-$112.1M
EPS, basic 15.46-2.0814.0512.979.0910.444.588.241.06-0.46
EPS, diluted 15.32-2.0813.8912.829.0110.294.518.091.04-0.46
Shares, diluted (wtd. avg.) 258.0M257.9M260.5M259.1M259.9M263.4M260.7M259.2M253.2M244.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $5.08B$4.57B$10.37B$10.50B$6.79B$5.99B$3.11B$2.65B$1.67B$1.18B
Short-term investments $1.52B$1.55B$849.2M$274.5M$729.9M$670.7M$699.0M$518.1M——
Receivables $2.05B$1.61B$1.56B$1.44B$1.14B$885.4M$633.5M$409.7M$281.3M$200.4M
Inventory $1.69B$1.21B$738.8M$460.6M$353.1M$280.8M$167.5M$124.4M$111.8M$77.6M
Total current assets $11.20B$9.60B$14.14B$13.23B$9.56B$8.13B$4.82B$3.84B$2.65B$1.83B
Property, plant and equipment ———————$812.0M$789.4M$698.4M
Goodwill $1.09B$1.09B$1.09B$1.09B$1.00B$1.00B$1.00B$50.4M$50.4M$50.4M
Other intangibles $424.2M$825.9M$839.9M$603.6M$400.0M$400.0M$400.0M$0——
Total assets $25.64B$22.53B$22.73B$18.15B$13.43B$11.75B$8.32B$6.25B$3.55B$2.90B
Accounts payable $461.7M$413.0M$364.9M$303.9M$195.0M$155.1M$87.6M$111.0M$74.0M$61.5M
Total current liabilities $3.86B$3.56B$3.55B$2.74B$2.14B$1.88B$1.33B$1.12B$807.3M$792.5M
Total liabilities $6.98B$6.12B$5.15B$4.24B$3.33B$3.06B$2.23B$1.81B$1.50B$1.56B
Retained earnings $13.56B$9.61B$10.14B$6.52B$3.20B$858.7M-$1.85B-$2.99B-$5.12B-$5.37B
Total equity $18.67B$16.41B$17.58B$13.91B$10.10B$8.69B$6.09B$4.44B$2.04B$1.34B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $3.63B-$492.6M$3.54B$4.13B$2.64B$3.25B$1.57B$1.27B$844.9M$236.1M
Depreciation and amortisation $209.8M$207.2M$181.3M$148.3M$125.6M$109.5M$106.9M$72.4M$61.4M$61.4M
Stock-based compensation $685.9M$698.5M$581.2M$491.3M$441.4M$429.5M$360.5M$325.0M$293.2M$240.6M
Capital expenditure $437.6M$297.7M$200.4M$204.7M$235.0M$259.8M$75.4M$95.4M$99.4M$56.6M
Investing cash flow -$945.4M-$3.77B-$3.14B-$321.1M-$340.9M$99.4M-$1.24B-$202.2M-$483.3M$51.2M
Financing cash flow -$2.26B-$1.49B-$562.2M-$67.7M-$1.48B-$505.3M$126.8M-$71.2M$68.4M$133.3M
Buybacks $2.02B$1.18B$427.6M$0$1.43B$539.1M$186.0M$350.0M$0$0

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000875320-26-000056.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -5B 0 5B 10B 15B Revenue, FY2016: 1.7B Gross profit, FY2016: 1.5B Net income, FY2016: -112.1M Revenue, FY2017: 2.5B Gross profit, FY2017: 2.2B Net income, FY2017: 263.5M Revenue, FY2018: 3B Gross profit, FY2018: 2.6B Net income, FY2018: 2.1B Revenue, FY2019: 4.2B Gross profit, FY2019: 3.6B Net income, FY2019: 1.2B Revenue, FY2020: 6.2B Gross profit, FY2020: 5.5B Net income, FY2020: 2.7B Revenue, FY2021: 7.6B Gross profit, FY2021: 6.7B Net income, FY2021: 2.3B Revenue, FY2022: 8.9B Gross profit, FY2022: 7.9B Net income, FY2022: 3.3B Revenue, FY2023: 9.9B Gross profit, FY2023: 8.6B Net income, FY2023: 3.6B Revenue, FY2024: 11B Gross profit, FY2024: 9.5B Net income, FY2024: -535.6M Revenue, FY2025: 12B Gross profit, FY2025: 10.3B Net income, FY2025: 4B FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $1.70B $2.49B $3.05B $4.16B $6.21B $7.57B $8.93B $9.87B $11.02B $12.00B
Gross profit $1.49B $2.21B $2.64B $3.62B $5.47B $6.67B $7.85B $8.61B $9.49B $10.35B
Net income -$112.1M $263.5M $2.10B $1.18B $2.71B $2.34B $3.32B $3.62B -$535.6M $3.95B

Recent filings and events

  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Other event Item 8.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

Others in SIC 2834

TickerCompanyMarket capP/ERevenue growth
LLY ELI LILLY & Co $1.20T 55.5x 44.7%
JNJ JOHNSON & JOHNSON $635.76B 23.9x 6.0%
ABBV AbbVie Inc. $504.76B 121.0x 8.6%
MRK Merck & Co., Inc. $358.41B 20.0x 1.3%
ABT ABBOTT LABORATORIES $180.63B 27.9x 5.7%
PFE PFIZER INC $171.16B 22.1x -1.6%
BMY BRISTOL MYERS SQUIBB CO $125.59B 17.8x -0.2%
REGN REGENERON PHARMACEUTICALS, INC. $82.76B 19.4x 1.0%