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Financials · VRTX

Vertex Pharmaceuticals Incorporated (VRTX) financials

For the twelve months ended Sep 30, 2026, Vertex Pharmaceuticals Incorporated reported $12.95B of revenue and $3.98B of net income.

Revenue, TTM
$12.95B
Revenue growth, YoY
+10.5%
Net income, TTM
$3.98B
Net income growth, YoY
+8.2%
Net margin
30.7%
Free cash flow, TTM
$3.20B
EPS, diluted, TTM
$15.53
EPS growth, YoY
+8.6%
Cash
$4.98B
Total debt
$4.50B
P/E
34.89
P/S
10.71
Market cap
$138.71B
Annual revenue$12.00B
FY2016FY2025
Annual net income$3.95B
FY2016FY2025
Annual free cash flow$3.19B
FY2016FY2025

VRTX revenue and earnings growth

VRTX revenueQ3 2026$3.44B

Quarter YoY
+11.8%
QoQ
+3.2%
FY YoY
+8.9%
5Y CAGR
+14.1%
10Y CAGR
+27.8%

VRTX revenue was $3.44B in fiscal Q3 2026 (ended Sep 30, 2026), up 11.8% from a year earlier and up 3.2% from the prior quarter. For the full fiscal 2025 it was $12.00B, up 8.9% from fiscal 2024. Compound annual growth was +14.1% over 5 years and +27.8% over 10 years. It rose in each of the last 10 fiscal years. Fiscal 2025 is the highest of the 15 fiscal years on file.

VRTX net incomeQ3 2026$653.60M

Quarter YoY
-39.6%
QoQ
-40.6%
5Y CAGR
+7.8%

VRTX net income was $653.60M in fiscal Q3 2026 (ended Sep 30, 2026), down 39.6% from a year earlier and down 40.6% from the prior quarter. For the full fiscal 2025 it was $3.95B, compared with -$535.60M in fiscal 2024. Compound annual growth was +7.8% over 5 years. Fiscal 2025 is the highest of the 15 fiscal years on file.

VRTX EPSQ3 2026$2.56

Quarter YoY
-39.0%
QoQ
-40.6%
5Y CAGR
+8.3%

VRTX diluted EPS was $2.56 in fiscal Q3 2026 (ended Sep 30, 2026), down 39.0% from a year earlier and down 40.6% from the prior quarter. For the full fiscal 2025 it was $15.32, compared with -$2.08 in fiscal 2024. Compound annual growth was +8.3% over 5 years.

VRTX free cash flowQ3 2026$545.80M

Quarter YoY
-52.1%
QoQ
-46.1%
5Y CAGR
+1.3%

VRTX free cash flow was $545.80M in fiscal Q3 2026 (ended Sep 30, 2026), down 52.1% from a year earlier and down 46.1% from the prior quarter. For the full fiscal 2025 it was $3.19B, compared with -$790.30M in fiscal 2024. Compound annual growth was +1.3% over 5 years.

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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$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$904.20M$736.30M$547.80M$409.54M$275.12M$210.46M
Gross profit$10.35B$9.49B$8.61B$7.85B$6.67B$5.47B$3.62B$2.64B$2.21B$1.49B
Research and development$3.91B$3.63B$3.16B$2.54B$1.94B$1.64B$1.75B$1.42B$1.32B$1.05B
Selling, general and admin$1.75B$1.46B$1.14B$944.70M$840.10M$770.50M$658.50M$557.62M$496.08M$432.83M
Operating income$4.17B-$232.90M$3.83B$4.31B$2.78B$2.86B$1.20B$635.15M$123.24M$9.94M
Interest expense$13.30M$30.60M$44.10M$54.80M-$58.15M$58.50M$72.47M$69.30M-
Pre-tax income$4.64B$248.50M$4.38B$4.23B$2.73B$3.12B$1.39B$600.24M-$15.69M-$67.37M
Income tax$690.00M$784.10M$760.20M$910.40M$388.30M$405.20M$218.10M-$1.49B-$107.32M$16.66M
Net income$3.95B-$535.60M$3.62B$3.32B$2.34B$2.71B$1.18B$2.10B$263.48M-$112.05M
EPS, basic$15.46-$2.08$14.05$12.97$9.09$10.44$4.58$8.24$1.06-$0.46
EPS, diluted$15.32-$2.08$13.89$12.82$9.01$10.29$4.51$8.09$1.04-$0.46
Diluted shares258.0M257.9M260.5M259.1M259.9M263.4M260.7M259.2M253.2M244.7M

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$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$849.20M$274.50M$729.90M$670.70M$698.97M$518.11M$423.25M-
Receivables$2.05B$1.61B$1.56B$1.44B$1.14B$885.40M$633.52M$409.69M$281.34M$200.36M
Inventory$1.69B$1.21B$738.80M$460.60M$353.10M$280.80M$167.50M$124.36M$111.83M$77.60M
Current assets$11.20B$9.60B$14.14B$13.23B$9.56B$8.13B$4.82B$3.84B$2.65B$1.83B
Goodwill$1.09B$1.09B$1.09B$1.09B$1.00B$1.00B$1.00B$50.38M$50.38M$50.38M
Total assets$25.64B$22.53B$22.73B$18.15B$13.43B$11.75B$8.32B$6.25B$3.55B$2.90B
Current liabilities$3.86B$3.56B$3.55B$2.74B$2.14B$1.88B$1.33B$1.12B$807.26M$792.54M
Short-term debt$0---------
Long-term debt$0---------
Total debt$0---------
Total liabilities$6.98B$6.12B$5.15B$4.24B$3.33B$3.06B$2.23B$1.81B$1.50B$1.56B
Shareholders' equity$18.67B$16.41B$17.58B$13.91B$10.10B$8.69B$6.09B$4.44B$2.04B$1.34B

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$3.63B-$492.60M$3.54B$4.13B$2.64B$3.25B$1.57B$1.27B$844.94M$236.10M
Capital expenditures$437.60M$297.70M$200.40M$204.70M$235.00M$259.80M$75.40M$95.45M$99.42M$56.56M
Free cash flow$3.19B-$790.30M$3.34B$3.93B$2.41B$2.99B$1.49B$1.17B$745.52M$179.54M
Investing cash flow-$945.40M-$3.77B-$3.14B-$321.10M-$340.90M$99.40M-$1.24B-$202.16M-$483.33M$51.24M
Financing cash flow-$2.26B-$1.49B-$562.20M-$67.70M-$1.48B-$505.30M$126.80M-$71.22M$68.40M$133.27M
Share repurchases$2.02B$1.18B$427.60M$0$1.43B$539.10M$186.00M$350.04M$0$0
Stock-based compensation$685.90M$698.50M$581.20M$491.30M$441.40M$429.50M$360.50M$325.05M$293.24M$240.62M
Depreciation and amortization$209.80M$207.20M$181.30M$148.30M$125.60M$109.50M$106.90M$72.42M$61.40M$61.40M

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, YoY8.9%11.7%10.5%17.9%22.1%49.1%36.6%22.5%46.2%64.9%
Net income growth, YoY--9.0%41.8%-13.6%130.4%-43.9%695.8%--
EPS growth, YoY--8.3%42.3%-12.4%128.2%-44.3%677.9%--
Gross margin86.2%86.1%87.2%87.9%88.1%88.1%86.8%86.6%88.9%87.6%
Operating margin34.8%-2.1%38.8%48.2%36.7%46.0%28.8%20.8%5.0%0.6%
Net margin32.9%-4.9%36.7%37.2%30.9%43.7%28.3%68.8%10.6%-6.6%
Free cash flow margin26.6%-7.2%33.8%44.0%31.8%48.2%35.9%38.5%30.0%10.5%
Return on equity21.2%-3.3%20.6%23.9%23.2%31.2%19.3%47.3%12.9%-8.4%
Return on assets15.4%-2.4%15.9%18.3%17.4%23.1%14.1%33.6%7.4%-3.9%
Current ratio2.902.693.994.834.464.333.613.433.282.31
Debt to equity0.00---------

Source: XBRL data Vertex Pharmaceuticals Incorporated files with the SEC, latest filing dated Nov 3, 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.

VRTX peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
VRTX$12.95B+10.5%$3.98B30.7%$138.71B
LLY$86.46B+45.5%$27.58B31.9%$1.27T
JNJ$99.33B+7.8%$16.09B16.2%$664.95B
ABBV$66.01B+10.7%$10.34B15.7%$514.92B
MRK$67.38B+4.9%$2.45B3.6%$361.71B
NVS$54.53B+8.4%$13.98B25.6%$310.17B
AZN$58.74B+8.6%$10.22B17.4%$289.10B
ABT$48.23B+10.0%$4.70B9.7%$190.39B
NVODKK 309.06B+6.4%DKK 102.43B33.1%$178.51B

VRTX FAQ

9 questions
  • What is VRTX revenue?
    Vertex Pharmaceuticals Incorporated (VRTX) reported $12.95B of revenue for the twelve months ended Sep 30, 2026. That is up 10.5% from the year before. Revenue for fiscal 2025 was $12.00B.
  • Is VRTX profitable?
    Yes. Vertex Pharmaceuticals Incorporated earned $3.98B in net income for the twelve months ended Sep 30, 2026, a net margin of 30.7%.
  • How much cash and debt does VRTX have?
    Vertex Pharmaceuticals Incorporated reported $4.98B in cash and cash equivalents and $4.50B of debt on its most recent balance sheet in SEC filings.
  • How fast is VRTX revenue growing?
    Vertex Pharmaceuticals Incorporated's revenue changed +8.9% in fiscal 2025, to $12.00B. Its compound annual growth rate was +14.1% over 5 years and +27.8% over 10 years.
  • What is VRTX gross margin?
    Vertex Pharmaceuticals Incorporated's gross profit was $11.08B on $12.95B of revenue for the twelve months ended Sep 30, 2026, a gross margin of 85.5%.
  • What is VRTX free cash flow?
    Vertex Pharmaceuticals Incorporated generated $3.20B of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of $3.69B less capital expenditures.
  • What is VRTX earnings per share?
    Diluted earnings per share were $15.53 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did VRTX last report financial results?
    The latest statements here come from Vertex Pharmaceuticals Incorporated's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this VRTX financial data come from?
    Quantisnow builds these statements from the structured XBRL data Vertex Pharmaceuticals Incorporated files with the SEC. It is provided for information only and is not investment advice.