United Therapeutics Corporation (UTHR) Financial Ratios
28 years of historical data (1998–2025) · Healthcare · Biotechnology
EV/EBITDA
↓
13.24
+6% vs avg
5yr avg: 12.50
30Y Low5.2·High83.0
P/FCF
↑
21.89
+16% vs avg
5yr avg: 18.92
30Y Low8.1·High67.8
P/B Ratio
↑
3.62
↑+38% vs avg
5yr avg: 2.63
30Y Low1.1·High11.5
ROE
↑
19.7%
↓+14% vs avg
5yr avg: 17.4%
30Y Low-95%·High45%
Debt/EBITDA
↓
N/A
—
5yr avg: 0.72
30Y Low0.0·High34.4
Percentile shows where the current value sits in 30-year historical distribution. Sparklines show 5-year trend.
UTHR Valuation Multiples
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
United Therapeutics Corporation trades at 19.3x earnings, 16% above its 5-year average of 16.6x, sitting at the 60th percentile of its historical range. Compared to the Healthcare sector median P/E of 22.1x, the stock trades at a discount of 13%. On a free-cash-flow basis, the stock trades at 21.9x P/FCF, 16% above the 5-year average of 18.9x.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $22.8B | $23.3B | $17.1B | $10.9B | $13.5B | $10.2B | $6.8B | $3.9B | $4.8B | $6.6B | $6.7B |
| Enterprise Value | $21.2B | $21.8B | $15.7B | $10.4B | $13.3B | $10.1B | $6.8B | $4.0B | $4.4B | $6.2B | $5.7B |
| P/E Ratio → | 19.26 | 17.49 | 14.32 | 11.10 | 18.54 | 21.48 | 13.15 | — | 8.13 | 15.89 | 9.41 |
| P/S Ratio | 7.16 | 7.33 | 5.95 | 4.70 | 6.97 | 6.06 | 4.56 | 2.66 | 2.94 | 3.85 | 4.20 |
| P/B Ratio | 3.62 | 3.29 | 2.66 | 1.83 | 2.81 | 2.58 | 1.99 | 1.39 | 1.72 | 3.16 | 3.60 |
| P/FCF | 21.89 | 22.43 | 15.84 | 14.62 | 20.32 | 21.41 | 9.72 | — | 8.07 | 17.13 | 11.18 |
| P/OCF | 14.59 | 14.95 | 12.89 | 11.17 | 16.81 | 17.09 | 8.96 | — | 6.16 | 14.01 | 10.43 |
P/E links to full P/E history page with 30-year chart
UTHR EV Ratios
Enterprise-value multiples — capital-structure-neutral measures of total business value
United Therapeutics Corporation's enterprise value stands at 13.2x EBITDA, 6% above its 5-year average of 12.5x. The Healthcare sector median is 14.2x, placing the stock at a 7% discount on an enterprise-value basis.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 6.84 | 5.46 | 4.48 | 6.88 | 6.01 | 4.61 | 2.74 | 2.69 | 3.59 | 3.56 |
| EV / EBITDA | 13.24 | 13.59 | 10.84 | 8.42 | 12.93 | 16.71 | 10.62 | — | 5.20 | 7.32 | 5.20 |
| EV / EBIT | 13.99 | 12.57 | 9.93 | 7.81 | 13.47 | 14.74 | 11.45 | — | 5.45 | 6.05 | 5.37 |
| EV / FCF | — | 20.93 | 14.54 | 13.94 | 20.08 | 21.21 | 9.81 | — | 7.36 | 15.95 | 9.48 |
UTHR Profitability
Margins and return-on-capital ratios measuring operating efficiency
United Therapeutics Corporation earns an operating margin of 47.7%. Operating margins have compressed from 50.9% to 47.7% over the past 3 years, signaling potential cost pressures or competitive headwinds. ROE of 19.7% indicates solid capital efficiency. ROIC of 21.5% represents excellent returns on invested capital.
Margins
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 87.9% | 87.9% | 89.2% | 88.9% | 92.4% | 92.7% | 92.7% | 91.9% | 87.8% | 93.9% | 95.5% |
| Operating Margin | 47.7% | 47.7% | 47.9% | 50.9% | 50.6% | 33.0% | 40.0% | -12.9% | 49.5% | 47.2% | 66.4% |
| Net Profit Margin | 41.9% | 41.9% | 41.5% | 42.3% | 37.6% | 28.2% | 34.7% | -7.2% | 36.2% | 24.2% | 44.6% |
Return on Capital
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 19.7% | 19.7% | 19.2% | 18.3% | 16.6% | 12.9% | 16.7% | -3.8% | 24.1% | 21.1% | 41.2% |
| ROA | 17.5% | 17.5% | 16.4% | 14.9% | 13.0% | 9.7% | 12.1% | -2.9% | 18.8% | 16.1% | 31.6% |
| ROIC | 21.5% | 21.5% | 19.6% | 17.6% | 17.3% | 11.4% | 14.0% | -5.3% | 30.1% | 49.2% | 98.8% |
| ROCE | 21.8% | 21.8% | 21.2% | 19.6% | 18.5% | 12.1% | 15.3% | -5.7% | 29.0% | 36.8% | 56.8% |
UTHR Leverage & Debt
Solvency and debt-coverage ratios — lower is generally safer
The company holds a net cash position — cash of $1.6B exceeds total debt of $0, providing substantial financial flexibility for buybacks, acquisitions, or weathering downturns. Interest coverage of 88.9x signals virtually no risk of debt distress — earnings comfortably cover interest obligations.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | — | — | 0.05 | 0.12 | 0.17 | 0.20 | 0.24 | 0.31 | 0.09 | 0.12 | — |
| Debt / EBITDA | — | — | 0.21 | 0.57 | 0.78 | 1.32 | 1.24 | — | 0.30 | 0.30 | — |
| Net Debt / Equity | — | -0.22 | -0.22 | -0.08 | -0.03 | -0.02 | 0.02 | 0.04 | -0.15 | -0.22 | -0.55 |
| Net Debt / EBITDA | -0.97 | -0.97 | -0.96 | -0.41 | -0.16 | -0.16 | 0.10 | — | -0.50 | -0.54 | -0.94 |
| Debt / FCF | — | -1.50 | -1.29 | -0.68 | -0.24 | -0.20 | 0.09 | — | -0.71 | -1.17 | -1.70 |
| Interest Coverage | 88.89 | 88.89 | 36.87 | 22.49 | 30.52 | 36.93 | 25.38 | -2.73 | 57.73 | 113.60 | 271.59 |
Net cash position: cash ($1.6B) exceeds total debt ($0)
UTHR Liquidity & Efficiency
Short-term solvency ratios and asset-utilisation metrics
United Therapeutics Corporation's current ratio of 6.60x is well above the 1.0 safety threshold, indicating strong short-term liquidity with ample room to cover current liabilities. The quick ratio of 6.28x is notably lower than the current ratio, indicating a significant portion of current assets is tied up in inventory. The current ratio has improved from 4.41x to 6.60x over the past 3 years.
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 6.60 | 6.60 | 5.25 | 4.41 | 9.85 | 7.61 | 6.70 | 4.03 | 6.39 | 3.26 | 4.29 |
| Quick Ratio | 6.28 | 6.28 | 5.03 | 4.28 | 9.55 | 7.30 | 6.44 | 3.83 | 6.03 | 3.01 | 3.98 |
| Cash Ratio | 2.78 | 2.78 | 4.43 | 3.72 | 8.27 | 6.32 | 5.68 | 3.21 | 5.12 | 2.09 | 3.16 |
| Asset Turnover | — | 0.40 | 0.39 | 0.32 | 0.32 | 0.33 | 0.32 | 0.37 | 0.48 | 0.60 | 0.69 |
| Inventory Turnover | 2.10 | 2.10 | 1.96 | 2.30 | 1.44 | 1.31 | 1.25 | 1.26 | 1.97 | 0.98 | 0.73 |
| Days Sales Outstanding | — | 40.16 | 35.43 | 43.74 | 41.55 | 43.03 | 38.73 | 38.14 | 39.40 | 62.85 | 48.97 |
UTHR Shareholder Yields
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
United Therapeutics Corporation returns 4.4% to shareholders annually primarily through share buybacks. The earnings yield of 5.2% (inverse of P/E) provides a useful comparison to bond yields when assessing the stock's relative attractiveness to fixed income.
Dividends
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
Total Shareholder Return Metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 5.2% | 5.7% | 7.0% | 9.0% | 5.4% | 4.7% | 7.6% | — | 12.3% | 6.3% | 10.6% |
| FCF Yield | 4.6% | 4.5% | 6.3% | 6.8% | 4.9% | 4.7% | 10.3% | — | 12.4% | 5.8% | 8.9% |
| Buyback Yield | 4.4% | 4.3% | 5.9% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 3.8% | 7.4% |
| Total Shareholder Yield | 4.4% | 4.3% | 5.9% | 0.1% | 0.1% | 0.1% | 0.1% | 0.1% | 0.0% | 3.8% | 7.4% |
| Shares Outstanding | — | $48M | $49M | $50M | $49M | $47M | $45M | $44M | $44M | $45M | $47M |
Peer Comparison
Compare UTHR with 10 similar companies in its peer group
| Company | Market Cap | P/E | EV/EBITDA | P/FCF | Gross Margin | Op Margin | ROE | ROIC | Debt/EBITDA |
|---|---|---|---|---|---|---|---|---|---|
 UTHRYou | $23B | 19.3 | 13.2 | 21.9 | 87.9% | 47.7% | 19.7% | 21.5% | — |
 IDYA | $3B | -24.4 | — | — | 97.9% | -72.8% | -10.9% | -12.4% | — |
 RARE | $3B | -4.7 | — | — | 83.8% | -79.5% | -607.5% | -89.4% | — |
 ACAD | $4B | 9.4 | 25.7 | 35.2 | 91.7% | 9.8% | 39.9% | 10.0% | 0.4 |
 PTGX | $7B | -55.1 | — | 129.4 | 97.3% | -343.6% | -20.2% | -21.8% | — |
 INVA | $2B | 6.8 | 6.8 | 8.5 | 72.3% | 38.5% | 29.1% | 14.2% | 1.3 |
 HALO | $8B | 26.8 | 11.2 | 12.6 | 78.1% | 58.4% | 153.6% | 32.1% | 2.4 |
 MNKD | $1B | 197.0 | 31.6 | 88.9 | 82.5% | 11.1% | — | 21.6% | 9.3 |
 LNTH | $7B | 30.5 | 16.8 | 19.1 | 61.1% | 20.2% | 21.4% | 30.6% | 0.0 |
 INSM | $21B | -14.9 | — | — | 79.4% | -194.0% | -249.3% | -86.5% | — |
 LGND | $6B | 44.8 | 71.4 | 112.6 | 97.5% | 17.6% | 13.5% | 3.4% | 5.6 |
| Healthcare Median | — | 22.1 | 14.2 | 18.5 | 63.9% | -4.3% | -32.6% | -11.6% | 3.2 |
Peer selection based on competitive and market overlap. Compare multiple stocks →
Download Financial Ratios Data
Includes 30+ ratios · 28 years · Updated daily
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UTHR — Frequently Asked Questions
Quick answers to the most common questions about buying UTHR stock.
What is United Therapeutics Corporation's P/E ratio?
United Therapeutics Corporation's current P/E ratio is 19.3x. The historical average is 31.5x. This places it at the 60th percentile of its historical range.
What is United Therapeutics Corporation's EV/EBITDA?
United Therapeutics Corporation's current EV/EBITDA is 13.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 21.0x.
What is United Therapeutics Corporation's ROE?
United Therapeutics Corporation's return on equity (ROE) is 19.7%. The historical average is 5.3%.
Is UTHR stock overvalued?
Based on historical data, United Therapeutics Corporation is trading at a P/E of 19.3x. This is at the 60th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
What are United Therapeutics Corporation's profit margins?
United Therapeutics Corporation has 87.9% gross margin and 47.7% operating margin. Operating margin above 20% indicates strong pricing power and cost efficiency.