What is UTHR revenue?

United Therapeutics Corporation (UTHR) reported $3.19B of revenue for the twelve months ended Sep 30, 2026. That is up 1.9% from the year before. Revenue for fiscal 2025 was $3.18B.

Yes. United Therapeutics Corporation earned $1.23B in net income for the twelve months ended Sep 30, 2026, a net margin of 38.6%.

How much cash and debt does UTHR have?

United Therapeutics Corporation reported $1.19B in cash and cash equivalents on its most recent balance sheet in SEC filings.

How fast is UTHR revenue growing?

United Therapeutics Corporation's revenue changed +10.6% in fiscal 2025, to $3.18B. Its compound annual growth rate was +16.5% over 5 years and +8.1% over 10 years.

What is UTHR gross margin?

United Therapeutics Corporation's gross profit was $2.75B on $3.19B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 86.3%.

What is UTHR free cash flow?

United Therapeutics Corporation generated $867.20M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.43B less capital expenditures.

What is UTHR earnings per share?

Diluted earnings per share were $26.46 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.

When did UTHR last report financial results?

The latest statements here come from United Therapeutics Corporation's 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.

Financials · UTHR

United Therapeutics Corporation (UTHR) financials

For the twelve months ended Sep 30, 2026, United Therapeutics Corporation reported $3.19B of revenue and $1.23B of net income.

Revenue, TTM: $3.19B
Revenue growth, YoY: +1.9%
Net income, TTM: $1.23B
Net income growth, YoY: -3.2%
Net margin: 38.6%
Free cash flow, TTM: $867.20M
EPS, diluted, TTM: $26.46
EPS growth, YoY: +0.1%
Cash: $1.19B
P/E: 19.45
P/S: 7.51
Market cap: $23.94B

Annual revenue$3.18B

FY2016FY2025

Annual net income$1.33B

FY2016FY2025

Annual free cash flow$1.04B

FY2016FY2025

UTHR revenue and earnings growth

UTHR revenueQ3 2026$832.50M

Quarter YoY: +4.1%
QoQ: +6.3%
FY YoY: +10.6%
5Y CAGR: +16.5%
10Y CAGR: +8.1%

UTHR revenue was $832.50M in fiscal Q3 2026 (ended Sep 30, 2026), up 4.1% from a year earlier and up 6.3% from the prior quarter. For the full fiscal 2025 it was $3.18B, up 10.6% from fiscal 2024. Compound annual growth was +16.5% over 5 years and +8.1% over 10 years. It rose in 8 of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

UTHR net incomeQ3 2026$258.60M

Quarter YoY: -23.6%
QoQ: -22.3%
FY YoY: +11.7%
5Y CAGR: +21.0%
10Y CAGR: +7.4%

UTHR net income was $258.60M in fiscal Q3 2026 (ended Sep 30, 2026), down 23.6% from a year earlier and down 22.3% from the prior quarter. For the full fiscal 2025 it was $1.33B, up 11.7% from fiscal 2024. Compound annual growth was +21.0% over 5 years and +7.4% over 10 years. It rose in 4 of the last 5 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

UTHR EPSQ3 2026$5.71

Quarter YoY: -20.3%
QoQ: -21.5%
FY YoY: +13.1%
5Y CAGR: +19.3%
10Y CAGR: +8.2%

UTHR diluted EPS was $5.71 in fiscal Q3 2026 (ended Sep 30, 2026), down 20.3% from a year earlier and down 21.5% from the prior quarter. For the full fiscal 2025 it was $27.86, up 13.1% from fiscal 2024. Compound annual growth was +19.3% over 5 years and +8.2% over 10 years.

UTHR free cash flowQ3 2026$125.80M

Quarter YoY: -64.2%
QoQ: -38.8%
FY YoY: -3.7%
5Y CAGR: +8.4%
10Y CAGR: +12.1%

UTHR free cash flow was $125.80M in fiscal Q3 2026 (ended Sep 30, 2026), down 64.2% from a year earlier and down 38.8% from the prior quarter. For the full fiscal 2025 it was $1.04B, down 3.7% from fiscal 2024. Compound annual growth was +8.4% over 5 years and +12.1% over 10 years. It rose in 3 of the last 5 fiscal years.

Export CSV

Income statement

Income statement
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue	$3.18B	$2.88B	$2.33B	$1.94B	$1.69B	$1.48B	$1.45B	$1.63B	$1.73B	$1.60B
Cost of revenue	$384.40M	$309.70M	$257.50M	$151.60M	$122.50M	$108.10M	$117.60M	$198.70M	$105.70M	$72.70M
Gross profit	$2.80B	$2.57B	$2.07B	$1.78B	$1.56B	$1.38B	$1.33B	$1.43B	$1.62B	$1.53B
Research and development	$550.00M	$481.00M	$408.00M	$322.90M	$540.10M	$357.70M	$1.18B	$357.90M	$264.60M	$147.60M
Selling, general and admin	$755.80M	$709.70M	$477.10M	$482.10M	$467.00M	-	-	$265.80M	$330.10M	$316.80M
Operating income	$1.49B	$1.38B	$1.18B	$979.70M	$555.90M	$593.60M	-$187.60M	$805.40M	$814.90M	$1.06B
Interest expense	$19.50M	$42.90M	$59.30M	$32.40M	$18.60M	$23.50M	$44.20M	$13.90M	$9.00M	$3.90M
Pre-tax income	$1.71B	$1.54B	$1.27B	$950.60M	$593.90M	$638.90M	-$165.00M	$758.90M	$769.50M	$1.06B
Income tax	$379.20M	$343.90M	$289.50M	$223.30M	$118.10M	$124.10M	-$60.50M	$169.70M	$351.60M	$346.50M
Net income	$1.33B	$1.20B	$984.80M	$727.30M	$475.80M	$514.80M	-$104.50M	$589.20M	$417.90M	$713.70M
EPS, basic	$30.13	$26.44	$21.04	$15.98	$10.60	$11.65	-$2.39	$13.54	$9.50	$16.29
EPS, diluted	$27.86	$24.64	$19.81	$15.00	$10.06	$11.54	-$2.39	$13.39	$9.31	$15.25
Diluted shares	47.9M	48.5M	49.7M	48.5M	47.3M	44.6M	43.8M	44.0M	44.9M	46.8M

Balance sheet

Balance sheet
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Cash and equivalents	$1.56B	$1.70B	$1.21B	$961.20M	$894.80M	$738.70M	$738.40M	$669.20M	$705.10M	$1.02B
Short-term investments	$1.36B	$1.57B	$1.79B	$1.88B	$1.04B	$1.10B	$747.50M	$746.70M	$222.30M	$27.80M
Receivables	$350.20M	$279.30M	$278.90M	$220.40M	$198.70M	$157.40M	$151.40M	$175.70M	$297.10M	$214.50M
Inventory	$183.10M	$157.90M	$111.80M	$102.00M	$93.80M	$86.50M	$93.40M	$101.00M	$107.90M	$100.00M
Current assets	$3.70B	$3.87B	$3.55B	$3.38B	$2.32B	$2.17B	$1.86B	$1.77B	$1.45B	$1.42B
Goodwill	$32.30M	$32.30M	$33.70M	$28.00M	$28.00M	$28.00M	$28.00M	$31.50M	$13.70M	$10.30M
Total assets	$7.88B	$7.36B	$7.17B	$6.04B	$5.17B	$4.62B	$3.91B	$3.40B	$2.88B	$2.33B
Current liabilities	$560.60M	$738.10M	$804.40M	$343.20M	$305.40M	$323.30M	$463.00M	$276.60M	$444.70M	$332.50M
Total liabilities	$783.80M	$920.00M	$1.18B	$1.25B	$1.21B	$1.22B	$1.13B	$593.20M	$758.40M	$463.40M
Shareholders' equity	$7.10B	$6.44B	$5.98B	$4.80B	$3.96B	$3.40B	$2.78B	$2.79B	$2.10B	$1.85B

Cash flow

Cash flow
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Operating cash flow	$1.56B	$1.33B	$978.00M	$802.50M	$598.20M	$755.70M	-$206.60M	$778.40M	$474.20M	$643.60M
Capital expenditures	$520.50M	$246.50M	$230.40M	$138.80M	$120.80M	$59.30M	$83.70M	$184.40M	$86.30M	$38.00M
Free cash flow	$1.04B	$1.08B	$747.60M	$663.70M	$477.40M	$696.40M	-$290.30M	$594.00M	$387.90M	$605.60M
Investing cash flow	-$551.30M	$417.20M	-$719.60M	-$811.50M	-$486.90M	-$738.50M	-$335.40M	-$820.60M	-$835.60M	$48.30M
Financing cash flow	-$1.15B	-$1.25B	-$11.90M	$75.40M	$44.80M	-$16.90M	$611.20M	$6.30M	$43.30M	-$497.70M
Share repurchases	$1.00B	$1.00B	$0	$0	-	-	-	-	$250.00M	$500.00M
Stock-based compensation	$147.70M	$144.00M	$39.10M	$106.80M	$138.50M	$163.80M	$45.40M	-$26.40M	$73.50M	$12.10M
Depreciation and amortization	$85.60M	$72.50M	$53.20M	$51.30M	$49.90M	$49.90M	$45.90M	$35.90M	$31.00M	$31.60M

Key ratios

Key ratios
Line item	FY2025 Dec 31, 2025	FY2024 Dec 31, 2024	FY2023 Dec 31, 2023	FY2022 Dec 31, 2022	FY2021 Dec 31, 2021	FY2020 Dec 31, 2020	FY2019 Dec 31, 2019	FY2018 Dec 31, 2018	FY2017 Dec 31, 2017	FY2016 Dec 31, 2016
Revenue growth, YoY	10.6%	23.6%	20.2%	14.9%	13.6%	2.4%	-11.0%	-5.7%	7.9%	9.1%
Net income growth, YoY	11.7%	21.4%	35.4%	52.9%	-7.6%	-	-	41.0%	-41.4%	9.5%
EPS growth, YoY	13.1%	24.4%	32.1%	49.1%	-12.8%	-	-	43.8%	-39.0%	19.9%
Gross margin	87.9%	89.2%	88.9%	92.2%	92.7%	92.7%	91.9%	87.8%	93.9%	95.5%
Operating margin	46.9%	47.9%	50.9%	50.6%	33.0%	40.0%	-12.9%	49.5%	47.2%	66.4%
Net margin	41.9%	41.5%	42.3%	37.6%	28.2%	34.7%	-7.2%	36.2%	24.2%	44.6%
Free cash flow margin	32.7%	37.6%	32.1%	34.3%	28.3%	46.9%	-20.0%	36.5%	22.5%	37.9%
Return on equity	18.8%	18.5%	16.5%	15.2%	12.0%	15.2%	-3.8%	21.1%	19.9%	38.6%
Return on assets	16.9%	16.2%	13.7%	12.0%	9.2%	11.2%	-2.7%	17.3%	14.5%	30.7%
Current ratio	6.60	5.25	4.41	9.85	7.61	6.70	4.03	6.39	3.26	4.29

Income statement

Income statement
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue	$832.50M	$783.30M	$781.50M	$790.20M	$799.50M	$798.60M	$794.40M	$735.90M	$748.90M	$714.90M	$677.70M	$614.70M
Cost of revenue	$99.10M	$99.50M	$133.40M	$103.40M	$100.90M	$87.60M	$92.50M	$75.90M	$83.10M	$77.80M	$72.90M	$71.00M
Gross profit	$733.40M	$683.80M	$648.10M	$686.80M	$698.60M	$711.00M	$701.90M	$660.00M	$665.80M	$637.10M	$604.80M	$543.70M
Research and development	$279.20M	$146.30M	$138.20M	$139.50M	$127.50M	$134.00M	$149.00M	$133.80M	$103.50M	$139.60M	$104.10M	$151.40M
Selling, general and admin	$146.40M	$206.70M	$184.10M	$190.60M	$182.60M	$212.50M	$170.10M	$168.50M	$219.20M	$177.60M	$144.40M	$132.20M
Operating income	$307.80M	$330.80M	$325.80M	$356.70M	$388.50M	$364.50M	$382.80M	$357.70M	$343.10M	$319.90M	$356.30M	$260.10M
Interest expense	$2.90M	$2.90M	$3.00M	$3.10M	$3.00M	$7.30M	$6.10M	$7.90M	$10.10M	$11.60M	$13.30M	$15.10M
Pre-tax income	$372.80M	$372.70M	$318.30M	$444.00M	$438.00M	$408.40M	$423.50M	$396.50M	$388.60M	$355.30M	$398.60M	$295.40M
Income tax	$114.20M	$39.70M	$43.40M	$79.70M	$99.30M	$98.90M	$101.30M	$95.20M	$79.50M	$77.20M	$92.00M	$78.30M
Net income	$258.60M	$333.00M	$274.90M	$364.30M	$338.70M	$309.50M	$322.20M	$301.30M	$309.10M	$278.10M	$306.60M	$217.10M
EPS, basic	$6.06	$7.82	$6.32	$8.36	$7.73	$6.86	$7.18	$6.73	$6.93	$6.26	$6.52	$4.60
EPS, diluted	$5.71	$7.27	$5.82	$7.66	$7.16	$6.41	$6.63	$6.23	$6.39	$5.85	$6.17	$4.33
Diluted shares	45.3M	45.8M	47.2M	-	47.3M	48.3M	48.6M	-	48.4M	47.5M	49.7M	-

Balance sheet

Balance sheet
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Cash and equivalents	$1.19B	$1.80B	$1.28B	$1.56B	$1.34B	$1.59B	$1.90B	$1.70B	$1.55B	$1.36B	$1.25B	$1.21B
Short-term investments	$879.00M	$859.10M	$874.00M	$1.36B	$1.43B	$1.46B	$1.42B	$1.57B	$1.77B	$1.62B	$1.46B	$1.79B
Receivables	$348.60M	$310.30M	$312.00M	$350.20M	$297.70M	$379.30M	$322.00M	$279.30M	$341.80M	$290.70M	$307.30M	$278.90M
Inventory	$201.90M	$193.80M	$178.30M	$183.10M	$176.50M	$169.20M	$165.40M	$157.90M	$146.70M	$136.50M	$120.20M	$111.80M
Current assets	$2.88B	$3.48B	$2.87B	$3.70B	$3.49B	$3.83B	$3.94B	$3.87B	$4.00B	$3.62B	$3.25B	$3.55B
Goodwill	-	-	-	$32.30M	-	-	-	$32.30M	-	-	-	$33.70M
Total assets	$7.03B	$7.22B	$6.71B	$7.88B	$7.35B	$7.91B	$7.74B	$7.36B	$7.12B	$6.72B	$6.50B	$7.17B
Current liabilities	$624.30M	$607.80M	$599.10M	$560.60M	$546.30M	$527.10M	$721.50M	$738.10M	$873.40M	$832.30M	$860.60M	$804.40M
Total liabilities	$758.10M	$819.80M	$813.10M	$783.80M	$760.90M	$734.40M	$936.70M	$920.00M	$1.02B	$1.03B	$1.16B	$1.18B
Shareholders' equity	$6.28B	$6.40B	$5.90B	$7.10B	$6.59B	$7.17B	$6.81B	$6.44B	$6.10B	$5.70B	$5.34B	$5.98B

Cash flow

Cash flow
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Operating cash flow	$306.50M	$313.60M	$463.30M	$346.20M	$562.10M	$191.70M	$461.20M	$341.20M	$377.20M	$232.20M	$376.50M	$150.70M
Capital expenditures	$180.70M	$108.00M	$100.80M	$172.90M	$210.50M	$62.20M	$74.90M	$86.70M	$76.50M	$45.10M	$38.20M	$78.70M
Free cash flow	$125.80M	$205.60M	$362.50M	$173.30M	$351.60M	$129.50M	$386.30M	$254.50M	$300.70M	$187.10M	$338.30M	$72.00M
Investing cash flow	-$510.60M	$87.50M	$743.70M	-$227.60M	$140.90M	-$299.90M	-$164.70M	-$123.20M	-$114.90M	-$80.00M	$735.30M	$42.10M
Financing cash flow	-$410.20M	$122.40M	-$1.48B	$98.40M	-$956.00M	-$198.60M	-$93.80M	-$74.70M	-$64.10M	-$48.00M	-$1.07B	-$92.80M
Share repurchases	$500.00M	$0	$1.50B	$0	$1.00B	$0	$0	$0	$0	$0	$1.00B	$0
Stock-based compensation	$41.00M	$43.40M	$33.90M	$39.00M	$39.10M	$37.80M	$31.80M	$27.00M	$41.70M	$49.70M	$25.60M	$16.60M
Depreciation and amortization	$26.40M	$24.20M	$22.60M	$22.80M	$21.90M	$21.10M	$19.80M	$19.70M	$19.10M	$18.70M	$15.00M	$13.70M

Key ratios

Key ratios
Line item	Q3 2026 Sep 30, 2026	Q2 2026 Jun 30, 2026	Q1 2026 Mar 31, 2026	Q4 2025* Dec 31, 2025	Q3 2025 Sep 30, 2025	Q2 2025 Jun 30, 2025	Q1 2025 Mar 31, 2025	Q4 2024* Dec 31, 2024	Q3 2024 Sep 30, 2024	Q2 2024 Jun 30, 2024	Q1 2024 Mar 31, 2024	Q4 2023* Dec 31, 2023
Revenue growth, YoY	4.1%	-1.9%	-1.6%	7.4%	6.8%	11.7%	17.2%	19.7%	22.9%	19.8%	33.7%	25.1%
Net income growth, YoY	-23.6%	7.6%	-14.7%	20.9%	9.6%	11.3%	5.1%	38.8%	15.5%	7.3%	27.3%	64.3%
EPS growth, YoY	-20.3%	13.4%	-12.2%	23.0%	12.1%	9.6%	7.5%	43.9%	18.8%	11.6%	27.0%	63.4%
Gross margin	88.1%	87.3%	82.9%	86.9%	87.4%	89.0%	88.4%	89.7%	88.9%	89.1%	89.2%	88.4%
Operating margin	37.0%	42.2%	41.7%	45.1%	48.6%	45.6%	48.2%	48.6%	45.8%	44.7%	52.6%	42.3%
Net margin	31.1%	42.5%	35.2%	46.1%	42.4%	38.8%	40.6%	40.9%	41.3%	38.9%	45.2%	35.3%
Free cash flow margin	15.1%	26.2%	46.4%	21.9%	44.0%	16.2%	48.6%	34.6%	40.2%	26.2%	49.9%	11.7%
Current ratio	4.61	5.73	4.79	6.60	6.40	7.26	5.46	5.25	4.58	4.35	3.77	4.41

Source: XBRL data United Therapeutics Corporation files with the SEC, latest filing dated Nov 4, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

UTHR peers

Company	Revenue	Growth	Net income	Net margin	Market cap
UTHR	$3.19B	+1.9%	$1.23B	38.6%	$23.94B
LLYEli Lilly and Company	$86.46B	+45.5%	$27.58B	31.9%	$1.27T
JNJJohnson & Johnson	$99.33B	+7.8%	$16.09B	16.2%	$664.95B
ABBVAbbVie Inc.	$66.01B	+10.7%	$10.34B	15.7%	$514.92B
MRKMerck & Company Inc.	$67.38B	+4.9%	$2.45B	3.6%	$361.71B
NVSNovartis AG	$54.53B	+8.4%	$13.98B	25.6%	$310.17B
AZNAstraZeneca PLC	$58.74B	+8.6%	$10.22B	17.4%	$289.10B
ABTAbbott Laboratories	$48.23B	+10.0%	$4.70B	9.7%	$190.39B
NVONovo Nordisk A/S	DKK 309.06B	+6.4%	DKK 102.43B	33.1%	$178.51B

UTHR FAQ

9 questions

What is UTHR revenue?
United Therapeutics Corporation (UTHR) reported $3.19B of revenue for the twelve months ended Sep 30, 2026. That is up 1.9% from the year before. Revenue for fiscal 2025 was $3.18B.
Is UTHR profitable?
Yes. United Therapeutics Corporation earned $1.23B in net income for the twelve months ended Sep 30, 2026, a net margin of 38.6%.
How much cash and debt does UTHR have?
United Therapeutics Corporation reported $1.19B in cash and cash equivalents on its most recent balance sheet in SEC filings.
How fast is UTHR revenue growing?
United Therapeutics Corporation's revenue changed +10.6% in fiscal 2025, to $3.18B. Its compound annual growth rate was +16.5% over 5 years and +8.1% over 10 years.
What is UTHR gross margin?
United Therapeutics Corporation's gross profit was $2.75B on $3.19B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 86.3%.
What is UTHR free cash flow?
United Therapeutics Corporation generated $867.20M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $1.43B less capital expenditures.
What is UTHR earnings per share?
Diluted earnings per share were $26.46 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
When did UTHR last report financial results?
The latest statements here come from United Therapeutics Corporation's 10-Q filed on Nov 4, 2026, covering the period ended Sep 30, 2026.
Where does this UTHR financial data come from?
Quantisnow builds these statements from the structured XBRL data United Therapeutics Corporation files with the SEC. It is provided for information only and is not investment advice.