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

VRTX •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

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 $12B +8.9%
EBITDA $4.69B +17396.7%
Net Income $3.95B +838.1%
EPS (Diluted) 15.32 +836.5%
Gross Margin 86.24% +0.1%
EBITDA Margin 39.06% +15983.4%
Operating Margin 39.06% +1948.1%
Net Margin 32.94% +777.7%
ROE 22.54% +815.3%
ROIC 22.78% +1509.1%
Debt/Equity 0.20 +85.6%
Interest Coverage 352.44 +4730.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 26.6% free cash flow margin
✓Strong 5Y sales CAGR of 14.1%
✓Healthy 5Y average net margin of 26.6%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y27.8%

5Y14.1%

3Y10.35%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y7.83%

3Y5.97%

TTM865.96%

EPS CAGR

10Y-

5Y8.29%

3Y6.12%

TTM812.56%

ROCE

10Y Avg17.79%

5Y Avg20.5%

3Y Avg14.65%

Latest23.01%

Peer Comparison

Commercial Rare Disease Biopharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORTCorcept Therapeutics Incorporated	3.78B	35.70	43.54	12.79%	13.01%	15.3%	3.75%	0.01
BMRNBioMarin Pharmaceutical Inc.	11.86B	61.73	34.29		10.83%	5.73%	6.11%	0.10
VRTXVertex Pharmaceuticals Incorporated	126.19B	496.83	32.43	8.9%	31.35%	21.22%	2.53%	0.20
CPRXCatalyst Pharmaceuticals, Inc.	2.83B	23.08	13.74	19.78%	36.39%	22.46%	7.38%	0.00
HRMYHarmony Biosciences Holdings, Inc.	1.65B	28.54	10.53	21.51%	18.27%	18.24%	21.12%	0.02
PTCTPTC Therapeutics, Inc.	5.45B	68.19	8.76	114.51%	42.25%
BCRXBioCryst Pharmaceuticals, Inc.	1.86B	8.75	7.23	94.1%	30.16%		18.63%
RAREUltragenyx Pharmaceutical Inc.	2.26B	23.39	-3.72	29.01%	-91.95%	-35.88%		0.15

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.7B	2.49B	3.05B	4.16B	6.21B	7.57B	8.93B	9.87B	11.02B	12B
Revenue Growth %	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%	8.9%
Cost of Goods Sold+	210.46M	275.12M	409.54M	547.76M	736.3M	904.2M	1.08B	1.26B	1.53B	1.63B
COGS % of Revenue	12.36%	11.05%	13.44%	13.16%	11.86%	11.94%	12.1%	12.79%	13.89%	13.59%
Gross Profit+	1.49B	2.21B	2.64B	3.62B	5.47B	6.67B	7.85B	8.61B	9.49B	10.35B
Gross Margin %	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%	86.24%
Gross Profit Growth %	64.5%	48.39%	19.18%	37.04%	51.29%	21.96%	17.69%	9.64%	10.25%	9.07%
Operating Expenses+	1.48B	1.82B	1.97B	2.41B	2.61B	3.89B	3.54B	4.78B	9.72B	5.68B
OpEx % of Revenue	86.98%	73.16%	64.78%	57.97%	42.11%	51.37%	39.67%	48.38%	88.23%	47.35%
Selling, General & Admin	432.83M	496.08M	557.62M	658.5M	770.5M	840.1M	944.7M	1.14B	1.46B	1.75B
SG&A % of Revenue	25.43%	19.93%	18.3%	15.82%	12.42%	11.09%	10.58%	11.52%	13.29%	14.61%
Research & Development	1.05B	1.32B	1.42B	1.75B	1.83B	3.05B	2.66B	3.16B	3.63B	3.91B
R&D % of Revenue	61.55%	53.23%	46.48%	42.15%	29.48%	40.28%	29.74%	32.05%	32.94%	32.58%
Other Operating Expenses	4.13M	0	-790K	0	13.06M	0	-57.5M	475.5M	4.63B	20.2M
Operating Income+	9.94M	123.24M	635.15M	1.2B	2.86B	2.78B	4.31B	3.83B	-232.9M	4.69B
Operating Margin %	0.58%	4.95%	20.84%	28.77%	46.03%	36.73%	48.23%	38.83%	-2.11%	39.06%
Operating Income Growth %	102.12%	1140.37%	415.36%	88.55%	138.51%	-2.6%	54.83%	-11.04%	-106.08%	2112.62%
EBITDA+	71.33M	184.64M	707.57M	1.3B	2.97B	2.91B	4.46B	4.01B	-27.1M	4.69B
EBITDA Margin %	4.19%	7.42%	23.22%	31.34%	47.79%	38.39%	49.89%	40.66%	-0.25%	39.06%
EBITDA Growth %	117.56%	158.84%	283.22%	84.36%	127.35%	-1.96%	53.24%	-9.93%	-100.68%	17396.68%
D&A (Non-Cash Add-back)	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	205.8M	0
EBIT	14.07M	53.61M	672.71M	1.45B	3.17B	2.79B	4.29B	4.42B	279.1M	4.69B
Net Interest Income+	-81.43M	-57.55M	-34.12M	5.2M	-36M	-56.6M	89.8M	570.6M	567.5M	477.6M
Interest Income	0	11.75M	0	63.68M	22.2M	4.9M	144.6M	614.7M	598.1M	490.9M
Interest Expense	81.43M	69.3M	34.12M	58.5M	58.15M	61.5M	54.8M	44.1M	30.6M	13.3M
Other Income/Expense	-77.3M	-138.93M	-34.91M	197.42M	260.6M	-51.7M	-75M	547.8M	481.4M	-44.2M
Pretax Income+	-67.37M	-15.69M	600.24M	1.39B	3.12B	2.73B	4.23B	4.38B	248.5M	4.64B
Pretax Margin %	-3.96%	-0.63%	19.7%	33.51%	50.23%	36.05%	47.39%	44.38%	2.25%	38.69%
Income Tax+	16.66M	-107.32M	-1.49B	218.11M	405.15M	388.3M	910.4M	760.2M	784.1M	690M
Effective Tax Rate %	166.33%	-1679.42%	349.34%	84.36%	87%	85.78%	78.49%	82.64%	-215.53%	85.14%
Net Income+	-112.05M	263.48M	2.1B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Net Margin %	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%	32.94%
Net Income Growth %	79.92%	335.14%	695.83%	-43.88%	130.43%	-13.63%	41.84%	8.96%	-114.8%	838.09%
Net Income (Continuing)	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	181.61M	13.73M	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.46	1.04	8.09	4.51	10.29	9.01	12.82	13.89	-2.08	15.32
EPS Growth %	80.09%	326.09%	677.88%	-44.25%	128.16%	-12.44%	42.29%	8.35%	-114.97%	836.54%
EPS (Basic)	-0.46	1.06	8.25	4.58	10.44	9.09	12.97	14.05	-2.08	15.46
Diluted Shares Outstanding	244.69M	253.22M	259.19M	260.67M	263.4M	259.9M	259.1M	260.5M	257.9M	258M
Basic Shares Outstanding	243.59M	248.86M	254.29M	256.73M	259.84M	257.7M	256.1M	257.7M	257.5M	255.7M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.83B	2.65B	3.84B	4.82B	8.13B	9.56B	13.23B	14.14B	9.6B	11.2B
Cash & Short-Term Investments	1.43B	2.09B	3.17B	3.81B	6.66B	7.52B	10.78B	11.22B	6.12B	6.61B
Cash Only	1.18B	1.67B	2.65B	3.11B	5.99B	6.79B	10.5B	10.37B	4.57B	5.08B
Short-Term Investments	250.61M	423.25M	518.11M	698.97M	670.7M	729.9M	274.5M	849.2M	1.55B	6.61B
Accounts Receivable	235.48M	385.99M	409.69M	633.52M	885.4M	1.14B	1.44B	1.56B	1.61B	2.05B
Days Sales Outstanding	50.49	56.61	49.07	55.55	52.08	54.78	58.94	57.82	53.31	62.43
Inventory	77.6M	111.83M	124.36M	167.5M	280.78M	353.1M	460.6M	738.8M	1.21B	1.69B
Days Inventory Outstanding	134.59	148.36	110.84	111.62	139.19	142.54	155.62	213.64	287.47	377.46
Other Current Assets	47.76M	0	0	0	79.72M	103.7M	121.9M	86.1M	206.5M	853.3M
Total Non-Current Assets+	1.07B	897.05M	2.4B	3.5B	3.62B	3.87B	4.92B	8.59B	12.94B	14.44B
Property, Plant & Equipment	698.36M	789.44M	812M	833.28M	1.28B	1.42B	1.46B	1.45B	2.58B	3.08B
Fixed Asset Turnover	2.44x	3.15x	3.75x	5.00x	4.83x	5.32x	6.13x	6.79x	4.26x	3.89x
Goodwill	50.38M	50.38M	50.38M	1B	1B	1B	1.09B	1.09B	1.09B	1.09B
Intangible Assets	284.34M	29M	0	400M	400M	400M	603.6M	839.9M	825.9M	424.2M
Long-Term Investments	20.28M	20.45M	0	0	0	0	112.2M	2.5B	5.11B	0
Other Non-Current Assets	11.88M	6.95M	40.73M	69.38M	49.3M	110.8M	409.6M	895.3M	999.3M	6.95B
Total Assets+	2.89B	3.55B	6.25B	8.32B	11.75B	13.43B	18.15B	22.73B	22.53B	25.64B
Asset Turnover	0.59x	0.70x	0.49x	0.50x	0.53x	0.56x	0.49x	0.43x	0.49x	0.47x
Asset Growth %	15.89%	22.54%	76.14%	33.18%	41.27%	14.3%	35.13%	25.23%	-0.87%	13.8%
Total Current Liabilities+	792.54M	807.26M	1.12B	1.33B	1.88B	2.14B	2.74B	3.55B	3.56B	3.86B
Accounts Payable	61.45M	73.99M	110.99M	87.61M	155.1M	195M	303.9M	364.9M	413M	3.43B
Days Payables Outstanding	106.57	98.17	98.92	58.38	76.89	78.72	102.68	105.52	98.49	768.2
Short-Term Debt	300M	0	0	0	0	0	0	0	92.3M	0
Deferred Revenue (Current)	79.42M	237.57M	24.87M	62.33M	191.5M	171.7M	159.6M	170.3M	206.8M	0
Other Current Liabilities	10.94M	-203.2M	20.27M	29.18M	83.5M	16.5M	62.5M	50.7M	132.7M	428.3M
Current Ratio	2.31x	3.28x	3.43x	3.61x	4.33x	4.46x	4.83x	3.99x	2.69x	2.90x
Quick Ratio	2.21x	3.14x	3.32x	3.49x	4.18x	4.30x	4.66x	3.78x	2.35x	2.46x
Cash Conversion Cycle	78.51	106.81	60.99	108.78	114.38	118.6	111.89	165.94	242.28	-328.3
Total Non-Current Liabilities+	766.06M	696.45M	690.4M	898.39M	1.19B	1.19B	1.5B	1.6B	2.56B	3.12B
Long-Term Debt	0	0	0	0	0	0	0	0	0	1.85B
Capital Lease Obligations	521.34M	583.9M	581.55M	622.87M	889.5M	887.2M	810.3M	724.7M	1.66B	1.85B
Deferred Tax Liabilities	134.06M	6.34M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	30.61M	27.77M	26.28M	186.76M	298M	303.3M	685.8M	877.7M	901.8M	-577M
Total Liabilities	1.56B	1.5B	1.81B	2.23B	3.06B	3.33B	4.24B	5.15B	6.12B	6.98B
Total Debt+	840.76M	606.43M	586.82M	661.66M	931.9M	967.4M	899.7M	808.4M	1.75B	3.69B
Net Debt	-343.18M	-1.06B	-2.06B	-2.45B	-5.06B	-5.83B	-9.6B	-9.56B	-2.82B	3.69B
Debt / Equity	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x	0.20x
Debt / EBITDA	11.79x	3.28x	0.83x	0.51x	0.31x	0.33x	0.20x	0.20x	-	0.79x
Net Debt / EBITDA	-4.81x	-5.74x	-2.92x	-1.88x	-1.70x	-2.00x	-2.16x	-2.38x	-	0.79x
Interest Coverage	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x	352.44x
Total Equity+	1.34B	2.04B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B	18.67B
Equity Growth %	22.36%	52.62%	117.17%	37.2%	42.75%	16.27%	37.75%	26.36%	-6.66%	13.75%
Book Value per Share	5.47	8.07	17.11	23.34	32.98	38.86	53.70	67.49	63.63	72.35
Total Shareholders' Equity	1.16B	2.03B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B	18.67B
Common Stock	2.45M	2.51M	2.55M	2.59M	2.6M	2.5M	2.6M	2.6M	2.6M	2.5M
Retained Earnings	-5.37B	-5.12B	-2.99B	-1.85B	858.67M	3.2B	6.52B	10.14B	9.61B	13.56B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	21.17M	-11.57M	659K	-1.97M	-68.48M	15.9M	800K	-14.3M	127.8M	-15.9M
Minority Interest	181.61M	13.73M	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	236.1M	844.94M	1.27B	1.57B	3.25B	2.64B	4.13B	3.54B	-492.6M	3.63B
Operating CF Margin %	13.87%	33.95%	41.68%	37.7%	52.43%	34.9%	46.24%	35.84%	-4.47%	30.26%
Operating CF Growth %	164.61%	257.87%	50.34%	23.54%	107.32%	-18.75%	56.23%	-14.35%	-113.93%	837.19%
Net Income	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Depreciation & Amortization	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	207.2M	209.8M
Stock-Based Compensation	237.71M	290.74M	325.05M	360.49M	429.5M	441.4M	491.3M	581.2M	698.5M	685.9M
Deferred Taxes	16.96M	-120.51M	-1.51B	167.39M	277.34M	-154.6M	-275.9M	-536.5M	-348.8M	-510.8M
Other Non-Cash Items	6.14M	506.42M	60.02M	-176.2M	-220.04M	-5.8M	103.4M	-42.6M	900K	-706.7M
Working Capital Changes	-2.07M	15.26M	238.02M	-66.1M	-54.45M	-105.2M	340.8M	-265.7M	-514.8M	0
Change in Receivables	-33.03M	-71.76M	-108.15M	-225.59M	-223.44M	-274.7M	-358.6M	-84.1M	-99.3M	-347.3M
Change in Inventory	-16.45M	-44.98M	-31.96M	-64.05M	-132.01M	-92.8M	-136.4M	-322.9M	-517.3M	-524.2M
Change in Payables	-11.74M	8.75M	36.55M	-22.79M	51.28M	31.9M	120.8M	48.7M	49.5M	36.8M
Cash from Investing+	104.47M	-437.68M	-202.16M	-1.24B	99.39M	-340.9M	-321.1M	-3.14B	-3.77B	-945.4M
Capital Expenditures	-56.56M	-259.42M	-95.52M	-75.45M	-259.8M	-235M	-204.7M	-200.4M	-297.7M	-437.6M
CapEx % of Revenue	3.32%	10.42%	3.13%	1.81%	4.19%	3.1%	2.29%	2.03%	2.7%	3.65%
Acquisitions	0	-160M	0	-1.15B	-418.24M	77M	-295.9M	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	33.17M	145.11M	-22.82M	0	418.24M	-77M	-47.8M	-89M	-241.7M	-8.7M
Cash from Financing+	133.27M	68.4M	-71.22M	126.77M	-505.28M	-1.48B	-67.7M	-562.2M	-1.49B	-2.26B
Debt Issued (Net)	-6.86M	-284.67M	-12.55M	-29.14M	-29.02M	-18.7M	-82M	-44.9M	-33.6M	0
Equity Issued (Net)	0	0	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-350.04M	-192.01M	-539.14M	-1.56B	-172M	-653.7M	-1.58B	-2.02B
Other Financing	140.13M	353.07M	2.08M	4.68M	-202.07M	102M	186.3M	136.4M	120.8M	-2.26B
Net Change in Cash	469.18M	481.47M	990.73M	462.43M	2.87B	811.2M	3.71B	-139.7M	-5.8B	515.6M
Free Cash Flow+	179.54M	585.52M	1.17B	1.49B	2.99B	2.41B	3.93B	3.28B	-790.3M	3.19B
FCF Margin %	10.55%	23.53%	38.55%	35.89%	48.24%	31.8%	43.95%	33.22%	-7.17%	26.61%
FCF Growth %	143.71%	226.12%	100.64%	27.16%	100.4%	-19.55%	62.97%	-16.47%	-124.1%	504.13%
FCF per Share	0.73	2.31	4.53	5.73	11.37	9.27	15.15	12.59	-3.06	12.38
FCF Conversion (FCF/Net Income)	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x	0.92x
Interest Paid	0	68.7M	66.46M	55.6M	54.5M	56.3M	52.3M	43.1M	30.5M	0
Taxes Paid	0	6.41M	12.4M	24.7M	191.8M	476.3M	1.06B	1.68B	1.08B	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-9.22%	15.59%	64.74%	22.37%	36.71%	24.93%	27.67%	22.99%	-3.15%	22.54%
Return on Invested Capital (ROIC)	0.68%	9.34%	28.4%	29.89%	58.95%	52.81%	75.3%	46.63%	-1.62%	22.78%
Gross Margin	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%	86.24%
Net Margin	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%	32.94%
Debt / Equity	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x	0.20x
Interest Coverage	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x	352.44x
FCF Conversion	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x	0.92x
Revenue Growth	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%	8.9%

US Stock Screener

...

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

VRTX •

HealthcareBiotechnologyCommercial Rare Disease Biopharma

Revenue $12B +8.9%
EBITDA $4.69B +17396.7%
Net Income $3.95B +838.1%
EPS (Diluted) 15.32 +836.5%
Gross Margin 86.24% +0.1%
EBITDA Margin 39.06% +15983.4%
Operating Margin 39.06% +1948.1%
Net Margin 32.94% +777.7%
ROE 22.54% +815.3%
ROIC 22.78% +1509.1%
Debt/Equity 0.20 +85.6%
Interest Coverage 352.44 +4730.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓FCF machine: 26.6% free cash flow margin
✓Strong 5Y sales CAGR of 14.1%
✓Healthy 5Y average net margin of 26.6%
✓Trading near 52-week high

✗Weaknesses

No significant weaknesses identified

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y27.8%

5Y14.1%

3Y10.35%

TTM10.36%

Profit (Net Income) CAGR

10Y-

5Y7.83%

3Y5.97%

TTM865.96%

EPS CAGR

10Y-

5Y8.29%

3Y6.12%

TTM812.56%

ROCE

10Y Avg17.79%

5Y Avg20.5%

3Y Avg14.65%

Latest23.01%

Peer Comparison

Commercial Rare Disease Biopharma

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CORTCorcept Therapeutics Incorporated	3.78B	35.70	43.54	12.79%	13.01%	15.3%	3.75%	0.01
BMRNBioMarin Pharmaceutical Inc.	11.86B	61.73	34.29		10.83%	5.73%	6.11%	0.10
VRTXVertex Pharmaceuticals Incorporated	126.19B	496.83	32.43	8.9%	31.35%	21.22%	2.53%	0.20
CPRXCatalyst Pharmaceuticals, Inc.	2.83B	23.08	13.74	19.78%	36.39%	22.46%	7.38%	0.00
HRMYHarmony Biosciences Holdings, Inc.	1.65B	28.54	10.53	21.51%	18.27%	18.24%	21.12%	0.02
PTCTPTC Therapeutics, Inc.	5.45B	68.19	8.76	114.51%	42.25%
BCRXBioCryst Pharmaceuticals, Inc.	1.86B	8.75	7.23	94.1%	30.16%		18.63%
RAREUltragenyx Pharmaceutical Inc.	2.26B	23.39	-3.72	29.01%	-91.95%	-35.88%		0.15

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Sales/Revenue+	1.7B	2.49B	3.05B	4.16B	6.21B	7.57B	8.93B	9.87B	11.02B	12B
Revenue Growth %	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%	8.9%
Cost of Goods Sold+	210.46M	275.12M	409.54M	547.76M	736.3M	904.2M	1.08B	1.26B	1.53B	1.63B
COGS % of Revenue	12.36%	11.05%	13.44%	13.16%	11.86%	11.94%	12.1%	12.79%	13.89%	13.59%
Gross Profit+	1.49B	2.21B	2.64B	3.62B	5.47B	6.67B	7.85B	8.61B	9.49B	10.35B
Gross Margin %	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%	86.24%
Gross Profit Growth %	64.5%	48.39%	19.18%	37.04%	51.29%	21.96%	17.69%	9.64%	10.25%	9.07%
Operating Expenses+	1.48B	1.82B	1.97B	2.41B	2.61B	3.89B	3.54B	4.78B	9.72B	5.68B
OpEx % of Revenue	86.98%	73.16%	64.78%	57.97%	42.11%	51.37%	39.67%	48.38%	88.23%	47.35%
Selling, General & Admin	432.83M	496.08M	557.62M	658.5M	770.5M	840.1M	944.7M	1.14B	1.46B	1.75B
SG&A % of Revenue	25.43%	19.93%	18.3%	15.82%	12.42%	11.09%	10.58%	11.52%	13.29%	14.61%
Research & Development	1.05B	1.32B	1.42B	1.75B	1.83B	3.05B	2.66B	3.16B	3.63B	3.91B
R&D % of Revenue	61.55%	53.23%	46.48%	42.15%	29.48%	40.28%	29.74%	32.05%	32.94%	32.58%
Other Operating Expenses	4.13M	0	-790K	0	13.06M	0	-57.5M	475.5M	4.63B	20.2M
Operating Income+	9.94M	123.24M	635.15M	1.2B	2.86B	2.78B	4.31B	3.83B	-232.9M	4.69B
Operating Margin %	0.58%	4.95%	20.84%	28.77%	46.03%	36.73%	48.23%	38.83%	-2.11%	39.06%
Operating Income Growth %	102.12%	1140.37%	415.36%	88.55%	138.51%	-2.6%	54.83%	-11.04%	-106.08%	2112.62%
EBITDA+	71.33M	184.64M	707.57M	1.3B	2.97B	2.91B	4.46B	4.01B	-27.1M	4.69B
EBITDA Margin %	4.19%	7.42%	23.22%	31.34%	47.79%	38.39%	49.89%	40.66%	-0.25%	39.06%
EBITDA Growth %	117.56%	158.84%	283.22%	84.36%	127.35%	-1.96%	53.24%	-9.93%	-100.68%	17396.68%
D&A (Non-Cash Add-back)	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	205.8M	0
EBIT	14.07M	53.61M	672.71M	1.45B	3.17B	2.79B	4.29B	4.42B	279.1M	4.69B
Net Interest Income+	-81.43M	-57.55M	-34.12M	5.2M	-36M	-56.6M	89.8M	570.6M	567.5M	477.6M
Interest Income	0	11.75M	0	63.68M	22.2M	4.9M	144.6M	614.7M	598.1M	490.9M
Interest Expense	81.43M	69.3M	34.12M	58.5M	58.15M	61.5M	54.8M	44.1M	30.6M	13.3M
Other Income/Expense	-77.3M	-138.93M	-34.91M	197.42M	260.6M	-51.7M	-75M	547.8M	481.4M	-44.2M
Pretax Income+	-67.37M	-15.69M	600.24M	1.39B	3.12B	2.73B	4.23B	4.38B	248.5M	4.64B
Pretax Margin %	-3.96%	-0.63%	19.7%	33.51%	50.23%	36.05%	47.39%	44.38%	2.25%	38.69%
Income Tax+	16.66M	-107.32M	-1.49B	218.11M	405.15M	388.3M	910.4M	760.2M	784.1M	690M
Effective Tax Rate %	166.33%	-1679.42%	349.34%	84.36%	87%	85.78%	78.49%	82.64%	-215.53%	85.14%
Net Income+	-112.05M	263.48M	2.1B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Net Margin %	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%	32.94%
Net Income Growth %	79.92%	335.14%	695.83%	-43.88%	130.43%	-13.63%	41.84%	8.96%	-114.8%	838.09%
Net Income (Continuing)	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	181.61M	13.73M	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.46	1.04	8.09	4.51	10.29	9.01	12.82	13.89	-2.08	15.32
EPS Growth %	80.09%	326.09%	677.88%	-44.25%	128.16%	-12.44%	42.29%	8.35%	-114.97%	836.54%
EPS (Basic)	-0.46	1.06	8.25	4.58	10.44	9.09	12.97	14.05	-2.08	15.46
Diluted Shares Outstanding	244.69M	253.22M	259.19M	260.67M	263.4M	259.9M	259.1M	260.5M	257.9M	258M
Basic Shares Outstanding	243.59M	248.86M	254.29M	256.73M	259.84M	257.7M	256.1M	257.7M	257.5M	255.7M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Current Assets+	1.83B	2.65B	3.84B	4.82B	8.13B	9.56B	13.23B	14.14B	9.6B	11.2B
Cash & Short-Term Investments	1.43B	2.09B	3.17B	3.81B	6.66B	7.52B	10.78B	11.22B	6.12B	6.61B
Cash Only	1.18B	1.67B	2.65B	3.11B	5.99B	6.79B	10.5B	10.37B	4.57B	5.08B
Short-Term Investments	250.61M	423.25M	518.11M	698.97M	670.7M	729.9M	274.5M	849.2M	1.55B	6.61B
Accounts Receivable	235.48M	385.99M	409.69M	633.52M	885.4M	1.14B	1.44B	1.56B	1.61B	2.05B
Days Sales Outstanding	50.49	56.61	49.07	55.55	52.08	54.78	58.94	57.82	53.31	62.43
Inventory	77.6M	111.83M	124.36M	167.5M	280.78M	353.1M	460.6M	738.8M	1.21B	1.69B
Days Inventory Outstanding	134.59	148.36	110.84	111.62	139.19	142.54	155.62	213.64	287.47	377.46
Other Current Assets	47.76M	0	0	0	79.72M	103.7M	121.9M	86.1M	206.5M	853.3M
Total Non-Current Assets+	1.07B	897.05M	2.4B	3.5B	3.62B	3.87B	4.92B	8.59B	12.94B	14.44B
Property, Plant & Equipment	698.36M	789.44M	812M	833.28M	1.28B	1.42B	1.46B	1.45B	2.58B	3.08B
Fixed Asset Turnover	2.44x	3.15x	3.75x	5.00x	4.83x	5.32x	6.13x	6.79x	4.26x	3.89x
Goodwill	50.38M	50.38M	50.38M	1B	1B	1B	1.09B	1.09B	1.09B	1.09B
Intangible Assets	284.34M	29M	0	400M	400M	400M	603.6M	839.9M	825.9M	424.2M
Long-Term Investments	20.28M	20.45M	0	0	0	0	112.2M	2.5B	5.11B	0
Other Non-Current Assets	11.88M	6.95M	40.73M	69.38M	49.3M	110.8M	409.6M	895.3M	999.3M	6.95B
Total Assets+	2.89B	3.55B	6.25B	8.32B	11.75B	13.43B	18.15B	22.73B	22.53B	25.64B
Asset Turnover	0.59x	0.70x	0.49x	0.50x	0.53x	0.56x	0.49x	0.43x	0.49x	0.47x
Asset Growth %	15.89%	22.54%	76.14%	33.18%	41.27%	14.3%	35.13%	25.23%	-0.87%	13.8%
Total Current Liabilities+	792.54M	807.26M	1.12B	1.33B	1.88B	2.14B	2.74B	3.55B	3.56B	3.86B
Accounts Payable	61.45M	73.99M	110.99M	87.61M	155.1M	195M	303.9M	364.9M	413M	3.43B
Days Payables Outstanding	106.57	98.17	98.92	58.38	76.89	78.72	102.68	105.52	98.49	768.2
Short-Term Debt	300M	0	0	0	0	0	0	0	92.3M	0
Deferred Revenue (Current)	79.42M	237.57M	24.87M	62.33M	191.5M	171.7M	159.6M	170.3M	206.8M	0
Other Current Liabilities	10.94M	-203.2M	20.27M	29.18M	83.5M	16.5M	62.5M	50.7M	132.7M	428.3M
Current Ratio	2.31x	3.28x	3.43x	3.61x	4.33x	4.46x	4.83x	3.99x	2.69x	2.90x
Quick Ratio	2.21x	3.14x	3.32x	3.49x	4.18x	4.30x	4.66x	3.78x	2.35x	2.46x
Cash Conversion Cycle	78.51	106.81	60.99	108.78	114.38	118.6	111.89	165.94	242.28	-328.3
Total Non-Current Liabilities+	766.06M	696.45M	690.4M	898.39M	1.19B	1.19B	1.5B	1.6B	2.56B	3.12B
Long-Term Debt	0	0	0	0	0	0	0	0	0	1.85B
Capital Lease Obligations	521.34M	583.9M	581.55M	622.87M	889.5M	887.2M	810.3M	724.7M	1.66B	1.85B
Deferred Tax Liabilities	134.06M	6.34M	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	30.61M	27.77M	26.28M	186.76M	298M	303.3M	685.8M	877.7M	901.8M	-577M
Total Liabilities	1.56B	1.5B	1.81B	2.23B	3.06B	3.33B	4.24B	5.15B	6.12B	6.98B
Total Debt+	840.76M	606.43M	586.82M	661.66M	931.9M	967.4M	899.7M	808.4M	1.75B	3.69B
Net Debt	-343.18M	-1.06B	-2.06B	-2.45B	-5.06B	-5.83B	-9.6B	-9.56B	-2.82B	3.69B
Debt / Equity	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x	0.20x
Debt / EBITDA	11.79x	3.28x	0.83x	0.51x	0.31x	0.33x	0.20x	0.20x	-	0.79x
Net Debt / EBITDA	-4.81x	-5.74x	-2.92x	-1.88x	-1.70x	-2.00x	-2.16x	-2.38x	-	0.79x
Interest Coverage	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x	352.44x
Total Equity+	1.34B	2.04B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B	18.67B
Equity Growth %	22.36%	52.62%	117.17%	37.2%	42.75%	16.27%	37.75%	26.36%	-6.66%	13.75%
Book Value per Share	5.47	8.07	17.11	23.34	32.98	38.86	53.70	67.49	63.63	72.35
Total Shareholders' Equity	1.16B	2.03B	4.44B	6.09B	8.69B	10.1B	13.91B	17.58B	16.41B	18.67B
Common Stock	2.45M	2.51M	2.55M	2.59M	2.6M	2.5M	2.6M	2.6M	2.6M	2.5M
Retained Earnings	-5.37B	-5.12B	-2.99B	-1.85B	858.67M	3.2B	6.52B	10.14B	9.61B	13.56B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	21.17M	-11.57M	659K	-1.97M	-68.48M	15.9M	800K	-14.3M	127.8M	-15.9M
Minority Interest	181.61M	13.73M	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Cash from Operations+	236.1M	844.94M	1.27B	1.57B	3.25B	2.64B	4.13B	3.54B	-492.6M	3.63B
Operating CF Margin %	13.87%	33.95%	41.68%	37.7%	52.43%	34.9%	46.24%	35.84%	-4.47%	30.26%
Operating CF Growth %	164.61%	257.87%	50.34%	23.54%	107.32%	-18.75%	56.23%	-14.35%	-113.93%	837.19%
Net Income	-84.03M	91.64M	2.09B	1.18B	2.71B	2.34B	3.32B	3.62B	-535.6M	3.95B
Depreciation & Amortization	61.4M	61.4M	72.42M	106.94M	109.52M	125.6M	148.3M	181.3M	207.2M	209.8M
Stock-Based Compensation	237.71M	290.74M	325.05M	360.49M	429.5M	441.4M	491.3M	581.2M	698.5M	685.9M
Deferred Taxes	16.96M	-120.51M	-1.51B	167.39M	277.34M	-154.6M	-275.9M	-536.5M	-348.8M	-510.8M
Other Non-Cash Items	6.14M	506.42M	60.02M	-176.2M	-220.04M	-5.8M	103.4M	-42.6M	900K	-706.7M
Working Capital Changes	-2.07M	15.26M	238.02M	-66.1M	-54.45M	-105.2M	340.8M	-265.7M	-514.8M	0
Change in Receivables	-33.03M	-71.76M	-108.15M	-225.59M	-223.44M	-274.7M	-358.6M	-84.1M	-99.3M	-347.3M
Change in Inventory	-16.45M	-44.98M	-31.96M	-64.05M	-132.01M	-92.8M	-136.4M	-322.9M	-517.3M	-524.2M
Change in Payables	-11.74M	8.75M	36.55M	-22.79M	51.28M	31.9M	120.8M	48.7M	49.5M	36.8M
Cash from Investing+	104.47M	-437.68M	-202.16M	-1.24B	99.39M	-340.9M	-321.1M	-3.14B	-3.77B	-945.4M
Capital Expenditures	-56.56M	-259.42M	-95.52M	-75.45M	-259.8M	-235M	-204.7M	-200.4M	-297.7M	-437.6M
CapEx % of Revenue	3.32%	10.42%	3.13%	1.81%	4.19%	3.1%	2.29%	2.03%	2.7%	3.65%
Acquisitions	0	-160M	0	-1.15B	-418.24M	77M	-295.9M	0	0	0
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	33.17M	145.11M	-22.82M	0	418.24M	-77M	-47.8M	-89M	-241.7M	-8.7M
Cash from Financing+	133.27M	68.4M	-71.22M	126.77M	-505.28M	-1.48B	-67.7M	-562.2M	-1.49B	-2.26B
Debt Issued (Net)	-6.86M	-284.67M	-12.55M	-29.14M	-29.02M	-18.7M	-82M	-44.9M	-33.6M	0
Equity Issued (Net)	0	0	-1000K	1000K	-1000K	-1000K	-1000K	-1000K	-1000K	0
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	0	0	-350.04M	-192.01M	-539.14M	-1.56B	-172M	-653.7M	-1.58B	-2.02B
Other Financing	140.13M	353.07M	2.08M	4.68M	-202.07M	102M	186.3M	136.4M	120.8M	-2.26B
Net Change in Cash	469.18M	481.47M	990.73M	462.43M	2.87B	811.2M	3.71B	-139.7M	-5.8B	515.6M
Free Cash Flow+	179.54M	585.52M	1.17B	1.49B	2.99B	2.41B	3.93B	3.28B	-790.3M	3.19B
FCF Margin %	10.55%	23.53%	38.55%	35.89%	48.24%	31.8%	43.95%	33.22%	-7.17%	26.61%
FCF Growth %	143.71%	226.12%	100.64%	27.16%	100.4%	-19.55%	62.97%	-16.47%	-124.1%	504.13%
FCF per Share	0.73	2.31	4.53	5.73	11.37	9.27	15.15	12.59	-3.06	12.38
FCF Conversion (FCF/Net Income)	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x	0.92x
Interest Paid	0	68.7M	66.46M	55.6M	54.5M	56.3M	52.3M	43.1M	30.5M	0
Taxes Paid	0	6.41M	12.4M	24.7M	191.8M	476.3M	1.06B	1.68B	1.08B	0

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Return on Equity (ROE)	-9.22%	15.59%	64.74%	22.37%	36.71%	24.93%	27.67%	22.99%	-3.15%	22.54%
Return on Invested Capital (ROIC)	0.68%	9.34%	28.4%	29.89%	58.95%	52.81%	75.3%	46.63%	-1.62%	22.78%
Gross Margin	87.64%	88.95%	86.56%	86.84%	88.14%	88.06%	87.9%	87.21%	86.11%	86.24%
Net Margin	-6.58%	10.59%	68.8%	28.27%	43.7%	30.92%	37.2%	36.68%	-4.86%	32.94%
Debt / Equity	0.63x	0.30x	0.13x	0.11x	0.11x	0.10x	0.06x	0.05x	0.11x	0.20x
Interest Coverage	0.12x	1.78x	18.62x	20.47x	49.12x	45.24x	78.60x	86.89x	-7.61x	352.44x
FCF Conversion	-2.11x	3.21x	0.61x	1.33x	1.20x	1.13x	1.24x	0.98x	0.92x	0.92x
Revenue Growth	64.89%	46.2%	22.46%	36.59%	49.07%	22.06%	17.91%	10.51%	11.66%	8.9%

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

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

Key Insights

✓Strengths

✗Weaknesses

Price & Volume

Growth Metrics

Revenue CAGR

Profit (Net Income) CAGR

EPS CAGR

ROCE

Peer Comparison

Compare VRTX vs Peers

vs AGIO

vs ASND

Compare Top 5

Profit & Loss

Balance Sheet

Cash Flow

Key Ratios

Deep Dive Analysis

Valuation Overview

Total Return Calculator

Dividend History

Earnings History

Price History

Revenue History

Financial Ratios