Vertex Pharmaceuticals Incorporated (VRTX) 10-Year Financial Performance & Capital Metrics

VRTX • • Industrial / General

HealthcareBiotechnologyRare Genetic DiseasesCystic Fibrosis & Genetic Disorders

AboutVertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation. Its pipeline includes VX-864 for the treatment of AAT deficiency, which is in Phase 2 clinical trial; VX-147 for the treatment of APOL1-mediated focal segmental glomerulosclerosis, or FSGS, and other serious kidney diseases which is in Phase 2 clinical trial; VX- 880, treatment for Type 1 Diabetes which is in Phase 1/2 clinical trial; VX-548, a NaV1.8 inhibitor for treatments of acute, neuropathic, musculoskeletal pain which is in Phase 2 clinical trial; and CTX001 for the treatment severe SCD and TDT which is in Phase 3 clinical trial. The company sells its products primarily to specialty pharmacy and specialty distributors in the United States, as well as specialty distributors and retail chains, and hospitals and clinics internationally. It has collaborations with Affinia Therapeutics, Inc.; Arbor Biotechnologies, Inc.; CRISPR Therapeutics AG.; Kymera Therapeutics, Inc.; Mammoth Biosciences, Inc.; Moderna, Inc.; Obsidian Therapeutics, Inc.; and Skyhawk Therapeutics, Inc.; as well as Ribometrix, Inc.; Genomics plc; Merck KGaA; Darmstadt, Germany, and X-Chem, Inc. Vertex Pharmaceuticals Incorporated was founded in 1989 and is headquartered in Boston, Massachusetts.Show more

Revenue $11.02B +11.7%
EBITDA -$27M -100.7%
Net Income -$536M -114.8%
EPS (Diluted) -2.08 -115.0%
Gross Margin 86.11% -1.3%
EBITDA Margin -0.25% -100.6%
Operating Margin -2.11% -105.4%
Net Margin -4.86% -113.3%
ROE -3.15% -113.7%
ROIC -1.62% -103.5%
Debt/Equity 0.11 +131.9%
Interest Coverage -7.61 -108.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 21.5%
✓Good 3Y average ROE of 15.8%
✓Healthy 5Y average net margin of 28.7%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y34.23%

5Y21.5%

3Y13.31%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM865.96%

EPS CAGR

10Y-

5Y-

3Y-

TTM812.56%

ROCE

10Y Avg13.12%

5Y Avg22.68%

3Y Avg17.73%

Latest-1.22%

Peer Comparison

Cystic Fibrosis & Genetic Disorders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VRTXVertex Pharmaceuticals Incorporated	111.36B	438.92	-211.02	11.66%	31.35%	21.22%		0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.03B	1.7B	2.49B	3.05B	4.16B	6.21B	7.57B	8.93B	9.87B	11.02B
Revenue Growth %	0.78%	0.65%	0.46%	0.22%	0.37%	0.49%	0.22%	0.18%	0.11%	0.12%
Cost of Goods Sold+	125.54M	210.46M	275.12M	409.54M	547.76M	736.3M	904.2M	1.08B	1.26B	1.53B
COGS % of Revenue	0.12%	0.12%	0.11%	0.13%	0.13%	0.12%	0.12%	0.12%	0.13%	0.14%
Gross Profit+	906.79M	1.49B	2.21B	2.64B	3.62B	5.47B	6.67B	7.85B	8.61B	9.49B
Gross Margin %	0.88%	0.88%	0.89%	0.87%	0.87%	0.88%	0.88%	0.88%	0.87%	0.86%
Gross Profit Growth %	0.75%	0.65%	0.48%	0.19%	0.37%	0.51%	0.22%	0.18%	0.1%	0.1%
Operating Expenses+	1.37B	1.48B	1.82B	1.97B	2.41B	2.61B	3.89B	3.54B	4.78B	9.72B
OpEx % of Revenue	1.33%	0.87%	0.73%	0.65%	0.58%	0.42%	0.51%	0.4%	0.48%	0.88%
Selling, General & Admin	377.08M	432.83M	496.08M	557.62M	658.5M	770.5M	840.1M	944.7M	1.14B	1.46B
SG&A % of Revenue	0.37%	0.25%	0.2%	0.18%	0.16%	0.12%	0.11%	0.11%	0.12%	0.13%
Research & Development	996.17M	1.05B	1.32B	1.42B	1.75B	1.83B	3.05B	2.66B	3.16B	3.63B
R&D % of Revenue	0.96%	0.62%	0.53%	0.46%	0.42%	0.29%	0.4%	0.3%	0.32%	0.33%
Other Operating Expenses	-6.71M	4.13M	0	-790K	0	13.06M	0	-57.5M	475.5M	4.63B
Operating Income+	-468.66M	9.94M	123.24M	635.15M	1.2B	2.86B	2.78B	4.31B	3.83B	-232.9M
Operating Margin %	-0.45%	0.01%	0.05%	0.21%	0.29%	0.46%	0.37%	0.48%	0.39%	-0.02%
Operating Income Growth %	0.32%	1.02%	11.4%	4.15%	0.89%	1.39%	-0.03%	0.55%	-0.11%	-1.06%
EBITDA+	-406.32M	71.33M	184.64M	707.57M	1.3B	2.97B	2.91B	4.46B	4.01B	-27.1M
EBITDA Margin %	-0.39%	0.04%	0.07%	0.23%	0.31%	0.48%	0.38%	0.5%	0.41%	-0%
EBITDA Growth %	0.35%	1.18%	1.59%	2.83%	0.84%	1.27%	-0.02%	0.53%	-0.1%	-1.01%
D&A (Non-Cash Add-back)	62.34M	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	205.8M
EBIT	-473.59M	14.07M	53.61M	672.71M	1.45B	3.17B	2.79B	4.29B	4.42B	279.1M
Net Interest Income+	-84.21M	-81.43M	-57.55M	-34.12M	5.2M	-36M	-56.6M	89.8M	570.6M	567.5M
Interest Income	0	0	11.75M	0	63.68M	22.2M	4.9M	144.6M	614.7M	598.1M
Interest Expense	84.21M	81.43M	69.3M	34.12M	58.5M	58.15M	61.5M	54.8M	44.1M	30.6M
Other Income/Expense	-90.92M	-77.3M	-138.93M	-34.91M	197.42M	260.6M	-51.7M	-75M	547.8M	481.4M
Pretax Income+	-559.58M	-67.37M	-15.69M	600.24M	1.39B	3.12B	2.73B	4.23B	4.38B	248.5M
Pretax Margin %	-0.54%	-0.04%	-0.01%	0.2%	0.34%	0.5%	0.36%	0.47%	0.44%	0.02%
Income Tax+	30.38M	16.66M	-107.32M	-1.49B	218.11M	405.15M	388.3M	910.4M	760.2M	784.1M
Effective Tax Rate %	1%	1.66%	-16.79%	3.49%	0.84%	0.87%	0.86%	0.78%	0.83%	-2.16%
Net Income+	-558.12M	-112.05M	263.48M	2.1B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Net Margin %	-0.54%	-0.07%	0.11%	0.69%	0.28%	0.44%	0.31%	0.37%	0.37%	-0.05%
Net Income Growth %	0.24%	0.8%	3.35%	6.96%	-0.44%	1.3%	-0.14%	0.42%	0.09%	-1.15%
Net Income (Continuing)	-588.18M	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	153.66M	181.61M	13.73M	0	0	0	0	0	0	0
EPS (Diluted)+	-2.31	-0.46	1.04	8.09	4.51	10.29	9.01	12.82	13.89	-2.08
EPS Growth %	0.26%	0.8%	3.26%	6.78%	-0.44%	1.28%	-0.12%	0.42%	0.08%	-1.15%
EPS (Basic)	-2.32	-0.46	1.06	8.25	4.58	10.44	9.09	12.97	14.05	-2.08
Diluted Shares Outstanding	241.31M	244.69M	253.22M	259.19M	260.67M	263.4M	259.9M	259.1M	260.5M	257.9M
Basic Shares Outstanding	240.84M	243.59M	248.86M	254.29M	256.73M	259.84M	257.7M	256.1M	257.7M	257.5M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.41B	1.83B	2.65B	3.84B	4.82B	8.13B	9.56B	13.23B	14.14B	9.6B
Cash & Short-Term Investments	1.04B	1.43B	2.09B	3.17B	3.81B	6.66B	7.52B	10.78B	11.22B	6.12B
Cash Only	714.77M	1.18B	1.67B	2.65B	3.11B	5.99B	6.79B	10.5B	10.37B	4.57B
Short-Term Investments	327.69M	250.61M	423.25M	518.11M	698.97M	670.7M	729.9M	274.5M	849.2M	1.55B
Accounts Receivable	188.52M	235.48M	385.99M	409.69M	633.52M	885.4M	1.14B	1.44B	1.56B	1.61B
Days Sales Outstanding	66.65	50.49	56.61	49.07	55.55	52.08	54.78	58.94	57.82	53.31
Inventory	56.08M	77.6M	111.83M	124.36M	167.5M	280.78M	353.1M	460.6M	738.8M	1.21B
Days Inventory Outstanding	163.06	134.59	148.36	110.84	111.62	139.19	142.54	155.62	213.64	287.47
Other Current Assets	96.91M	47.76M	0	0	0	79.72M	103.7M	121.9M	86.1M	206.5M
Total Non-Current Assets+	1.09B	1.07B	897.05M	2.4B	3.5B	3.62B	3.87B	4.92B	8.59B	12.94B
Property, Plant & Equipment	697.72M	698.36M	789.44M	812M	833.28M	1.28B	1.42B	1.46B	1.45B	2.58B
Fixed Asset Turnover	1.48x	2.44x	3.15x	3.75x	5.00x	4.83x	5.32x	6.13x	6.79x	4.26x
Goodwill	50.38M	50.38M	50.38M	50.38M	1B	1B	1B	1.09B	1.09B	1.09B
Intangible Assets	284.34M	284.34M	29M	0	400M	400M	400M	603.6M	839.9M	825.9M
Long-Term Investments	0	20.28M	20.45M	0	0	0	0	112.2M	2.5B	5.11B
Other Non-Current Assets	58.99M	11.88M	6.95M	40.73M	69.38M	49.3M	110.8M	409.6M	895.3M	999.3M
Total Assets+	2.5B	2.89B	3.55B	6.25B	8.32B	11.75B	13.43B	18.15B	22.73B	22.53B
Asset Turnover	0.41x	0.59x	0.70x	0.49x	0.50x	0.53x	0.56x	0.49x	0.43x	0.49x
Asset Growth %	0.07%	0.16%	0.23%	0.76%	0.33%	0.41%	0.14%	0.35%	0.25%	-0.01%
Total Current Liabilities+	506.17M	792.54M	807.26M	1.12B	1.33B	1.88B	2.14B	2.74B	3.55B	3.56B
Accounts Payable	74.94M	61.45M	73.99M	110.99M	87.61M	155.1M	195M	303.9M	364.9M	413M
Days Payables Outstanding	217.89	106.57	98.17	98.92	58.38	76.89	78.72	102.68	105.52	98.49
Short-Term Debt	71.3M	300M	0	0	0	0	0	0	0	92.3M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	14.37M	10.94M	-203.2M	20.27M	29.18M	83.5M	16.5M	62.5M	50.7M	225M
Current Ratio	2.78x	2.31x	3.28x	3.43x	3.61x	4.33x	4.46x	4.83x	3.99x	2.69x
Quick Ratio	2.67x	2.21x	3.14x	3.32x	3.49x	4.18x	4.30x	4.66x	3.78x	2.35x
Cash Conversion Cycle	11.82	78.51	106.81	60.99	108.78	114.38	118.6	111.89	165.94	242.28
Total Non-Current Liabilities+	898.79M	766.06M	696.45M	690.4M	898.39M	1.19B	1.19B	1.5B	1.6B	2.56B
Long-Term Debt	223.86M	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	515.53M	521.34M	583.9M	581.55M	622.87M	889.5M	887.2M	810.3M	724.7M	1.66B
Deferred Tax Liabilities	110.44M	134.06M	6.34M	0	0	0	0	0	0	0
Other Non-Current Liabilities	39.24M	30.61M	27.77M	26.28M	186.76M	298M	303.3M	685.8M	877.7M	901.8M
Total Liabilities	1.4B	1.56B	1.5B	1.81B	2.23B	3.06B	3.33B	4.24B	5.15B	6.12B
Total Debt+	826.24M	840.76M	606.43M	586.82M	661.66M	931.9M	967.4M	899.7M	808.4M	1.75B
Net Debt	111.47M	-343.18M	-1.06B	-2.06B	-2.45B	-5.06B	-5.83B	-9.6B	-9.56B	-2.82B
Debt / Equity	0.76x	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x
Debt / EBITDA	-	11.79x	3.28x	0.83x	0.51x	0.31x	0.33x	0.20x	0.20x	-
Net Debt / EBITDA	-	-4.81x	-5.74x	-2.92x	-1.88x	-1.70x	-2.00x	-2.16x	-2.38x	-
Interest Coverage	-5.57x	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x
Total Equity+	1.09B	1.34B	2.04B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B
Equity Growth %	-0%	0.22%	0.53%	1.17%	0.37%	0.43%	0.16%	0.38%	0.26%	-0.07%
Book Value per Share	4.53	5.47	8.07	17.11	23.34	32.98	38.86	53.70	67.49	63.63
Total Shareholders' Equity	939.97M	1.16B	2.03B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B
Common Stock	2.43M	2.45M	2.51M	2.55M	2.59M	2.6M	2.5M	2.6M	2.6M	2.6M
Retained Earnings	-5.26B	-5.37B	-5.12B	-2.99B	-1.85B	858.67M	3.2B	6.52B	10.14B	9.61B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.82M	21.17M	-11.57M	659K	-1.97M	-68.48M	15.9M	800K	-14.3M	127.8M
Minority Interest	153.66M	181.61M	13.73M	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-365.43M	236.1M	844.94M	1.27B	1.57B	3.25B	2.64B	4.13B	3.54B	-492.6M
Operating CF Margin %	-0.35%	0.14%	0.34%	0.42%	0.38%	0.52%	0.35%	0.46%	0.36%	-0.04%
Operating CF Growth %	0.29%	1.65%	2.58%	0.5%	0.24%	1.07%	-0.19%	0.56%	-0.14%	-1.14%
Net Income	-588.18M	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Depreciation & Amortization	62.34M	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	207.2M
Stock-Based Compensation	231.03M	237.71M	290.74M	325.05M	360.49M	429.5M	441.4M	491.3M	581.2M	698.5M
Deferred Taxes	3.28M	16.96M	-120.51M	-1.51B	167.39M	277.34M	-154.6M	-275.9M	-536.5M	-348.8M
Other Non-Cash Items	12.05M	6.14M	506.42M	60.02M	-176.2M	-220.04M	-5.8M	103.4M	-42.6M	900K
Working Capital Changes	-85.95M	-2.07M	15.26M	238.02M	-66.1M	-54.45M	-105.2M	340.8M	-265.7M	-514.8M
Change in Receivables	-104.85M	-33.03M	-71.76M	-108.15M	-225.59M	-223.44M	-274.7M	-358.6M	-84.1M	-99.3M
Change in Inventory	-23.15M	-16.45M	-44.98M	-31.96M	-64.05M	-132.01M	-92.8M	-136.4M	-322.9M	-517.3M
Change in Payables	-1.71M	-11.74M	8.75M	36.55M	-22.79M	51.28M	31.9M	120.8M	48.7M	49.5M
Cash from Investing+	268.86M	104.47M	-437.68M	-202.16M	-1.24B	99.39M	-340.9M	-321.1M	-3.14B	-3.77B
Capital Expenditures	-45.3M	-56.56M	-259.42M	-95.52M	-75.45M	-259.8M	-235M	-204.7M	-200.4M	-297.7M
CapEx % of Revenue	0.04%	0.03%	0.1%	0.03%	0.02%	0.04%	0.03%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-40.24M	33.17M	145.11M	-22.82M	0	418.24M	-77M	-47.8M	-89M	-241.7M
Cash from Financing+	188.92M	133.27M	68.4M	-71.22M	126.77M	-505.28M	-1.48B	-67.7M	-562.2M	-1.49B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	140.13M	353.07M	2.08M	4.68M	-202.07M	102M	186.3M	136.4M	120.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-410.73M	179.54M	585.52M	1.17B	1.49B	2.99B	2.41B	3.93B	3.28B	-790.3M
FCF Margin %	-0.4%	0.11%	0.24%	0.39%	0.36%	0.48%	0.32%	0.44%	0.33%	-0.07%
FCF Growth %	0.27%	1.44%	2.26%	1.01%	0.27%	1%	-0.2%	0.63%	-0.16%	-1.24%
FCF per Share	-1.70	0.73	2.31	4.53	5.73	11.37	9.27	15.15	12.59	-3.06
FCF Conversion (FCF/Net Income)	0.65x	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x
Interest Paid	85.61M	0	68.7M	66.46M	55.6M	54.5M	56.3M	52.3M	43.1M	30.5M
Taxes Paid	1.81M	0	6.41M	12.4M	24.7M	191.8M	476.3M	1.06B	1.68B	1.08B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-50.97%	-9.22%	15.59%	64.74%	22.37%	36.71%	24.93%	27.67%	22.99%	-3.15%
Return on Invested Capital (ROIC)	-28.11%	0.68%	9.34%	28.4%	29.89%	58.95%	52.81%	75.3%	46.63%	-1.62%
Gross Margin	87.84%	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%
Net Margin	-54.06%	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%
Debt / Equity	0.76x	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x
Interest Coverage	-5.57x	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x
FCF Conversion	0.65x	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x
Revenue Growth	77.86%	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
TRIKAFTA/KAFTRIO	-	-	-	-	420.11M	3.86B	5.7B	7.69B	8.94B	10.24B
TRIKAFTA/KAFTRIO Growth	-	-	-	-	-	819.73%	47.45%	34.92%	16.36%	14.47%
Manufactured Product, Other	-	-	-	-	-	-	-	-	-	781.5M
Manufactured Product, Other Growth	-	-	-	-	-	-	-	-	-	-
KALYDECO	631.67M	703.43M	844.63M	1.01B	991.06M	802.87M	684.2M	553.2M	475.5M	-
KALYDECO Growth	-	11.36%	20.07%	19.28%	-1.63%	-18.99%	-14.78%	-19.15%	-14.05%	-
ORKAMBI	350.66M	979.59M	1.32B	1.26B	1.33B	907.51M	771.6M	510.7M	326M	-
ORKAMBI Growth	-	179.35%	34.84%	-4.44%	5.52%	-31.86%	-14.98%	-33.81%	-36.17%	-
SYMDEKO/SYMKEVI	-	-	-	768.66M	1.42B	628.58M	420.4M	180M	123M	-
SYMDEKO/SYMKEVI Growth	-	-	-	-	84.43%	-55.66%	-33.12%	-57.18%	-31.67%	-
INCIVEK	17.99M	610K	-	-	-	-	-	-	-	-
INCIVEK Growth	-	-96.61%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	763.32M	1.32B	1.99B	2.37B	3.06B	4.83B	5.29B	5.7B	6.04B	6.68B
UNITED STATES Growth	-	73.17%	50.31%	19.04%	29.49%	57.69%	9.48%	7.79%	5.98%	10.67%
Europe	219.6M	320.46M	420.32M	543.18M	885.76M	1.13B	1.97B	2.71B	3.11B	3.45B
Europe Growth	-	45.93%	31.16%	29.23%	63.07%	27.17%	75.14%	37.13%	14.91%	11.09%
Other, Non U.S.	-	-	-	-	-	249.9M	313.2M	525.9M	719.8M	881.3M
Other, Non U.S. Growth	-	-	-	-	-	-	25.33%	67.91%	36.87%	22.44%
Non-US	269.02M	380.37M	501.87M	821.86M	1.31B	-	-	-	-	-
Non-US Growth	-	41.39%	31.94%	63.76%	59.98%	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Vertex Pharmaceuticals Incorporated (VRTX) reported $11.72B in revenue for fiscal year 2024. This represents a 731% increase from $1.41B in 2011.

Vertex Pharmaceuticals Incorporated (VRTX) grew revenue by 11.7% over the past year. This is steady growth.

Yes, Vertex Pharmaceuticals Incorporated (VRTX) is profitable, generating $3.68B in net income for fiscal year 2024 (-4.9% net margin).

Dividend & Returns

Vertex Pharmaceuticals Incorporated (VRTX) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Vertex Pharmaceuticals Incorporated (VRTX) generated $3.34B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

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Vertex Pharmaceuticals Incorporated (VRTX) 10-Year Financial Performance & Capital Metrics

VRTX • • Industrial / General

HealthcareBiotechnologyRare Genetic DiseasesCystic Fibrosis & Genetic Disorders

Revenue $11.02B +11.7%
EBITDA -$27M -100.7%
Net Income -$536M -114.8%
EPS (Diluted) -2.08 -115.0%
Gross Margin 86.11% -1.3%
EBITDA Margin -0.25% -100.6%
Operating Margin -2.11% -105.4%
Net Margin -4.86% -113.3%
ROE -3.15% -113.7%
ROIC -1.62% -103.5%
Debt/Equity 0.11 +131.9%
Interest Coverage -7.61 -108.8%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong 5Y sales CAGR of 21.5%
✓Good 3Y average ROE of 15.8%
✓Healthy 5Y average net margin of 28.7%

✗Weaknesses

✗Weak Piotroski F-Score: 3/9
✗Negative free cash flow

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y34.23%

5Y21.5%

3Y13.31%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM865.96%

EPS CAGR

10Y-

5Y-

3Y-

TTM812.56%

ROCE

10Y Avg13.12%

5Y Avg22.68%

3Y Avg17.73%

Latest-1.22%

Peer Comparison

Cystic Fibrosis & Genetic Disorders

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
VRTXVertex Pharmaceuticals Incorporated	111.36B	438.92	-211.02	11.66%	31.35%	21.22%		0.11

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	1.03B	1.7B	2.49B	3.05B	4.16B	6.21B	7.57B	8.93B	9.87B	11.02B
Revenue Growth %	0.78%	0.65%	0.46%	0.22%	0.37%	0.49%	0.22%	0.18%	0.11%	0.12%
Cost of Goods Sold+	125.54M	210.46M	275.12M	409.54M	547.76M	736.3M	904.2M	1.08B	1.26B	1.53B
COGS % of Revenue	0.12%	0.12%	0.11%	0.13%	0.13%	0.12%	0.12%	0.12%	0.13%	0.14%
Gross Profit+	906.79M	1.49B	2.21B	2.64B	3.62B	5.47B	6.67B	7.85B	8.61B	9.49B
Gross Margin %	0.88%	0.88%	0.89%	0.87%	0.87%	0.88%	0.88%	0.88%	0.87%	0.86%
Gross Profit Growth %	0.75%	0.65%	0.48%	0.19%	0.37%	0.51%	0.22%	0.18%	0.1%	0.1%
Operating Expenses+	1.37B	1.48B	1.82B	1.97B	2.41B	2.61B	3.89B	3.54B	4.78B	9.72B
OpEx % of Revenue	1.33%	0.87%	0.73%	0.65%	0.58%	0.42%	0.51%	0.4%	0.48%	0.88%
Selling, General & Admin	377.08M	432.83M	496.08M	557.62M	658.5M	770.5M	840.1M	944.7M	1.14B	1.46B
SG&A % of Revenue	0.37%	0.25%	0.2%	0.18%	0.16%	0.12%	0.11%	0.11%	0.12%	0.13%
Research & Development	996.17M	1.05B	1.32B	1.42B	1.75B	1.83B	3.05B	2.66B	3.16B	3.63B
R&D % of Revenue	0.96%	0.62%	0.53%	0.46%	0.42%	0.29%	0.4%	0.3%	0.32%	0.33%
Other Operating Expenses	-6.71M	4.13M	0	-790K	0	13.06M	0	-57.5M	475.5M	4.63B
Operating Income+	-468.66M	9.94M	123.24M	635.15M	1.2B	2.86B	2.78B	4.31B	3.83B	-232.9M
Operating Margin %	-0.45%	0.01%	0.05%	0.21%	0.29%	0.46%	0.37%	0.48%	0.39%	-0.02%
Operating Income Growth %	0.32%	1.02%	11.4%	4.15%	0.89%	1.39%	-0.03%	0.55%	-0.11%	-1.06%
EBITDA+	-406.32M	71.33M	184.64M	707.57M	1.3B	2.97B	2.91B	4.46B	4.01B	-27.1M
EBITDA Margin %	-0.39%	0.04%	0.07%	0.23%	0.31%	0.48%	0.38%	0.5%	0.41%	-0%
EBITDA Growth %	0.35%	1.18%	1.59%	2.83%	0.84%	1.27%	-0.02%	0.53%	-0.1%	-1.01%
D&A (Non-Cash Add-back)	62.34M	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	205.8M
EBIT	-473.59M	14.07M	53.61M	672.71M	1.45B	3.17B	2.79B	4.29B	4.42B	279.1M
Net Interest Income+	-84.21M	-81.43M	-57.55M	-34.12M	5.2M	-36M	-56.6M	89.8M	570.6M	567.5M
Interest Income	0	0	11.75M	0	63.68M	22.2M	4.9M	144.6M	614.7M	598.1M
Interest Expense	84.21M	81.43M	69.3M	34.12M	58.5M	58.15M	61.5M	54.8M	44.1M	30.6M
Other Income/Expense	-90.92M	-77.3M	-138.93M	-34.91M	197.42M	260.6M	-51.7M	-75M	547.8M	481.4M
Pretax Income+	-559.58M	-67.37M	-15.69M	600.24M	1.39B	3.12B	2.73B	4.23B	4.38B	248.5M
Pretax Margin %	-0.54%	-0.04%	-0.01%	0.2%	0.34%	0.5%	0.36%	0.47%	0.44%	0.02%
Income Tax+	30.38M	16.66M	-107.32M	-1.49B	218.11M	405.15M	388.3M	910.4M	760.2M	784.1M
Effective Tax Rate %	1%	1.66%	-16.79%	3.49%	0.84%	0.87%	0.86%	0.78%	0.83%	-2.16%
Net Income+	-558.12M	-112.05M	263.48M	2.1B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Net Margin %	-0.54%	-0.07%	0.11%	0.69%	0.28%	0.44%	0.31%	0.37%	0.37%	-0.05%
Net Income Growth %	0.24%	0.8%	3.35%	6.96%	-0.44%	1.3%	-0.14%	0.42%	0.09%	-1.15%
Net Income (Continuing)	-588.18M	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	153.66M	181.61M	13.73M	0	0	0	0	0	0	0
EPS (Diluted)+	-2.31	-0.46	1.04	8.09	4.51	10.29	9.01	12.82	13.89	-2.08
EPS Growth %	0.26%	0.8%	3.26%	6.78%	-0.44%	1.28%	-0.12%	0.42%	0.08%	-1.15%
EPS (Basic)	-2.32	-0.46	1.06	8.25	4.58	10.44	9.09	12.97	14.05	-2.08
Diluted Shares Outstanding	241.31M	244.69M	253.22M	259.19M	260.67M	263.4M	259.9M	259.1M	260.5M	257.9M
Basic Shares Outstanding	240.84M	243.59M	248.86M	254.29M	256.73M	259.84M	257.7M	256.1M	257.7M	257.5M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	1.41B	1.83B	2.65B	3.84B	4.82B	8.13B	9.56B	13.23B	14.14B	9.6B
Cash & Short-Term Investments	1.04B	1.43B	2.09B	3.17B	3.81B	6.66B	7.52B	10.78B	11.22B	6.12B
Cash Only	714.77M	1.18B	1.67B	2.65B	3.11B	5.99B	6.79B	10.5B	10.37B	4.57B
Short-Term Investments	327.69M	250.61M	423.25M	518.11M	698.97M	670.7M	729.9M	274.5M	849.2M	1.55B
Accounts Receivable	188.52M	235.48M	385.99M	409.69M	633.52M	885.4M	1.14B	1.44B	1.56B	1.61B
Days Sales Outstanding	66.65	50.49	56.61	49.07	55.55	52.08	54.78	58.94	57.82	53.31
Inventory	56.08M	77.6M	111.83M	124.36M	167.5M	280.78M	353.1M	460.6M	738.8M	1.21B
Days Inventory Outstanding	163.06	134.59	148.36	110.84	111.62	139.19	142.54	155.62	213.64	287.47
Other Current Assets	96.91M	47.76M	0	0	0	79.72M	103.7M	121.9M	86.1M	206.5M
Total Non-Current Assets+	1.09B	1.07B	897.05M	2.4B	3.5B	3.62B	3.87B	4.92B	8.59B	12.94B
Property, Plant & Equipment	697.72M	698.36M	789.44M	812M	833.28M	1.28B	1.42B	1.46B	1.45B	2.58B
Fixed Asset Turnover	1.48x	2.44x	3.15x	3.75x	5.00x	4.83x	5.32x	6.13x	6.79x	4.26x
Goodwill	50.38M	50.38M	50.38M	50.38M	1B	1B	1B	1.09B	1.09B	1.09B
Intangible Assets	284.34M	284.34M	29M	0	400M	400M	400M	603.6M	839.9M	825.9M
Long-Term Investments	0	20.28M	20.45M	0	0	0	0	112.2M	2.5B	5.11B
Other Non-Current Assets	58.99M	11.88M	6.95M	40.73M	69.38M	49.3M	110.8M	409.6M	895.3M	999.3M
Total Assets+	2.5B	2.89B	3.55B	6.25B	8.32B	11.75B	13.43B	18.15B	22.73B	22.53B
Asset Turnover	0.41x	0.59x	0.70x	0.49x	0.50x	0.53x	0.56x	0.49x	0.43x	0.49x
Asset Growth %	0.07%	0.16%	0.23%	0.76%	0.33%	0.41%	0.14%	0.35%	0.25%	-0.01%
Total Current Liabilities+	506.17M	792.54M	807.26M	1.12B	1.33B	1.88B	2.14B	2.74B	3.55B	3.56B
Accounts Payable	74.94M	61.45M	73.99M	110.99M	87.61M	155.1M	195M	303.9M	364.9M	413M
Days Payables Outstanding	217.89	106.57	98.17	98.92	58.38	76.89	78.72	102.68	105.52	98.49
Short-Term Debt	71.3M	300M	0	0	0	0	0	0	0	92.3M
Deferred Revenue (Current)	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Other Current Liabilities	14.37M	10.94M	-203.2M	20.27M	29.18M	83.5M	16.5M	62.5M	50.7M	225M
Current Ratio	2.78x	2.31x	3.28x	3.43x	3.61x	4.33x	4.46x	4.83x	3.99x	2.69x
Quick Ratio	2.67x	2.21x	3.14x	3.32x	3.49x	4.18x	4.30x	4.66x	3.78x	2.35x
Cash Conversion Cycle	11.82	78.51	106.81	60.99	108.78	114.38	118.6	111.89	165.94	242.28
Total Non-Current Liabilities+	898.79M	766.06M	696.45M	690.4M	898.39M	1.19B	1.19B	1.5B	1.6B	2.56B
Long-Term Debt	223.86M	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	515.53M	521.34M	583.9M	581.55M	622.87M	889.5M	887.2M	810.3M	724.7M	1.66B
Deferred Tax Liabilities	110.44M	134.06M	6.34M	0	0	0	0	0	0	0
Other Non-Current Liabilities	39.24M	30.61M	27.77M	26.28M	186.76M	298M	303.3M	685.8M	877.7M	901.8M
Total Liabilities	1.4B	1.56B	1.5B	1.81B	2.23B	3.06B	3.33B	4.24B	5.15B	6.12B
Total Debt+	826.24M	840.76M	606.43M	586.82M	661.66M	931.9M	967.4M	899.7M	808.4M	1.75B
Net Debt	111.47M	-343.18M	-1.06B	-2.06B	-2.45B	-5.06B	-5.83B	-9.6B	-9.56B	-2.82B
Debt / Equity	0.76x	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x
Debt / EBITDA	-	11.79x	3.28x	0.83x	0.51x	0.31x	0.33x	0.20x	0.20x	-
Net Debt / EBITDA	-	-4.81x	-5.74x	-2.92x	-1.88x	-1.70x	-2.00x	-2.16x	-2.38x	-
Interest Coverage	-5.57x	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x
Total Equity+	1.09B	1.34B	2.04B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B
Equity Growth %	-0%	0.22%	0.53%	1.17%	0.37%	0.43%	0.16%	0.38%	0.26%	-0.07%
Book Value per Share	4.53	5.47	8.07	17.11	23.34	32.98	38.86	53.70	67.49	63.63
Total Shareholders' Equity	939.97M	1.16B	2.03B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B
Common Stock	2.43M	2.45M	2.51M	2.55M	2.59M	2.6M	2.5M	2.6M	2.6M	2.6M
Retained Earnings	-5.26B	-5.37B	-5.12B	-2.99B	-1.85B	858.67M	3.2B	6.52B	10.14B	9.61B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	1.82M	21.17M	-11.57M	659K	-1.97M	-68.48M	15.9M	800K	-14.3M	127.8M
Minority Interest	153.66M	181.61M	13.73M	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-365.43M	236.1M	844.94M	1.27B	1.57B	3.25B	2.64B	4.13B	3.54B	-492.6M
Operating CF Margin %	-0.35%	0.14%	0.34%	0.42%	0.38%	0.52%	0.35%	0.46%	0.36%	-0.04%
Operating CF Growth %	0.29%	1.65%	2.58%	0.5%	0.24%	1.07%	-0.19%	0.56%	-0.14%	-1.14%
Net Income	-588.18M	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M
Depreciation & Amortization	62.34M	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	207.2M
Stock-Based Compensation	231.03M	237.71M	290.74M	325.05M	360.49M	429.5M	441.4M	491.3M	581.2M	698.5M
Deferred Taxes	3.28M	16.96M	-120.51M	-1.51B	167.39M	277.34M	-154.6M	-275.9M	-536.5M	-348.8M
Other Non-Cash Items	12.05M	6.14M	506.42M	60.02M	-176.2M	-220.04M	-5.8M	103.4M	-42.6M	900K
Working Capital Changes	-85.95M	-2.07M	15.26M	238.02M	-66.1M	-54.45M	-105.2M	340.8M	-265.7M	-514.8M
Change in Receivables	-104.85M	-33.03M	-71.76M	-108.15M	-225.59M	-223.44M	-274.7M	-358.6M	-84.1M	-99.3M
Change in Inventory	-23.15M	-16.45M	-44.98M	-31.96M	-64.05M	-132.01M	-92.8M	-136.4M	-322.9M	-517.3M
Change in Payables	-1.71M	-11.74M	8.75M	36.55M	-22.79M	51.28M	31.9M	120.8M	48.7M	49.5M
Cash from Investing+	268.86M	104.47M	-437.68M	-202.16M	-1.24B	99.39M	-340.9M	-321.1M	-3.14B	-3.77B
Capital Expenditures	-45.3M	-56.56M	-259.42M	-95.52M	-75.45M	-259.8M	-235M	-204.7M	-200.4M	-297.7M
CapEx % of Revenue	0.04%	0.03%	0.1%	0.03%	0.02%	0.04%	0.03%	0.02%	0.02%	0.03%
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	-40.24M	33.17M	145.11M	-22.82M	0	418.24M	-77M	-47.8M	-89M	-241.7M
Cash from Financing+	188.92M	133.27M	68.4M	-71.22M	126.77M	-505.28M	-1.48B	-67.7M	-562.2M	-1.49B
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	140.13M	353.07M	2.08M	4.68M	-202.07M	102M	186.3M	136.4M	120.8M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-410.73M	179.54M	585.52M	1.17B	1.49B	2.99B	2.41B	3.93B	3.28B	-790.3M
FCF Margin %	-0.4%	0.11%	0.24%	0.39%	0.36%	0.48%	0.32%	0.44%	0.33%	-0.07%
FCF Growth %	0.27%	1.44%	2.26%	1.01%	0.27%	1%	-0.2%	0.63%	-0.16%	-1.24%
FCF per Share	-1.70	0.73	2.31	4.53	5.73	11.37	9.27	15.15	12.59	-3.06
FCF Conversion (FCF/Net Income)	0.65x	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x
Interest Paid	85.61M	0	68.7M	66.46M	55.6M	54.5M	56.3M	52.3M	43.1M	30.5M
Taxes Paid	1.81M	0	6.41M	12.4M	24.7M	191.8M	476.3M	1.06B	1.68B	1.08B

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-50.97%	-9.22%	15.59%	64.74%	22.37%	36.71%	24.93%	27.67%	22.99%	-3.15%
Return on Invested Capital (ROIC)	-28.11%	0.68%	9.34%	28.4%	29.89%	58.95%	52.81%	75.3%	46.63%	-1.62%
Gross Margin	87.84%	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%
Net Margin	-54.06%	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%
Debt / Equity	0.76x	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x
Interest Coverage	-5.57x	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x
FCF Conversion	0.65x	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x
Revenue Growth	77.86%	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%

Revenue by Segment

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
TRIKAFTA/KAFTRIO	-	-	-	-	420.11M	3.86B	5.7B	7.69B	8.94B	10.24B
TRIKAFTA/KAFTRIO Growth	-	-	-	-	-	819.73%	47.45%	34.92%	16.36%	14.47%
Manufactured Product, Other	-	-	-	-	-	-	-	-	-	781.5M
Manufactured Product, Other Growth	-	-	-	-	-	-	-	-	-	-
KALYDECO	631.67M	703.43M	844.63M	1.01B	991.06M	802.87M	684.2M	553.2M	475.5M	-
KALYDECO Growth	-	11.36%	20.07%	19.28%	-1.63%	-18.99%	-14.78%	-19.15%	-14.05%	-
ORKAMBI	350.66M	979.59M	1.32B	1.26B	1.33B	907.51M	771.6M	510.7M	326M	-
ORKAMBI Growth	-	179.35%	34.84%	-4.44%	5.52%	-31.86%	-14.98%	-33.81%	-36.17%	-
SYMDEKO/SYMKEVI	-	-	-	768.66M	1.42B	628.58M	420.4M	180M	123M	-
SYMDEKO/SYMKEVI Growth	-	-	-	-	84.43%	-55.66%	-33.12%	-57.18%	-31.67%	-
INCIVEK	17.99M	610K	-	-	-	-	-	-	-	-
INCIVEK Growth	-	-96.61%	-	-	-	-	-	-	-	-

Revenue by Geography

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
UNITED STATES	763.32M	1.32B	1.99B	2.37B	3.06B	4.83B	5.29B	5.7B	6.04B	6.68B
UNITED STATES Growth	-	73.17%	50.31%	19.04%	29.49%	57.69%	9.48%	7.79%	5.98%	10.67%
Europe	219.6M	320.46M	420.32M	543.18M	885.76M	1.13B	1.97B	2.71B	3.11B	3.45B
Europe Growth	-	45.93%	31.16%	29.23%	63.07%	27.17%	75.14%	37.13%	14.91%	11.09%
Other, Non U.S.	-	-	-	-	-	249.9M	313.2M	525.9M	719.8M	881.3M
Other, Non U.S. Growth	-	-	-	-	-	-	25.33%	67.91%	36.87%	22.44%
Non-US	269.02M	380.37M	501.87M	821.86M	1.31B	-	-	-	-	-
Non-US Growth	-	41.39%	31.94%	63.76%	59.98%	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Vertex Pharmaceuticals Incorporated (VRTX) reported $11.72B in revenue for fiscal year 2024. This represents a 731% increase from $1.41B in 2011.

Vertex Pharmaceuticals Incorporated (VRTX) grew revenue by 11.7% over the past year. This is steady growth.

Yes, Vertex Pharmaceuticals Incorporated (VRTX) is profitable, generating $3.68B in net income for fiscal year 2024 (-4.9% net margin).

Dividend & Returns

Vertex Pharmaceuticals Incorporated (VRTX) has a return on equity (ROE) of -3.2%. Negative ROE indicates the company is unprofitable.

Vertex Pharmaceuticals Incorporated (VRTX) generated $3.34B in free cash flow for fiscal year 2024. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.