VERTEX PHARMACEUTICALS INC / MA

EDGAR

Annual consolidated revenue for 2025: about USD 12B, using the latest reported figures. The previous period, 2024, was about USD 11.02B.

Watchlist

Latest quarter

Revenue

3.33 billion USD

2026 Q2 · USD

Exact inputs and evidence
  • Revenue: 3333900000 USD Source

Operating margin

37.4%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: 1246900000 USD Source
  • Revenue: 3333900000 USD Source

Operating cash flow

1.13 billion USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2553500000 USD Source
  • Operating Cash Flow: 1428100000 USD Source

Free cash flow

1.01 billion USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: 2553500000 USD Source
  • Operating Cash Flow: 1428100000 USD Source
  • Capital Expenditure: 245600000 USD Source
  • Capital Expenditure: 133400000 USD Source
Cash and cash equivalents
6.14 billion USD Source
Exact value

6143500000 USD

Long-term debt including current maturities
Not available
Shares outstanding
253 million shares Source
Exact value

253347555 shares

Reported share-count change

-1.15% · -2.95 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 256293058 shares · 2025-06-30· Source
  • 253347555 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

12.6 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 3076400000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 12001300000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 8811300000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 2986900000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 3333900000 USD · 2026-04-01 – 2026-06-30 Source

Net income

4.41 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: 1082900000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: 3953200000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: 2762100000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: 1031400000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: 1099800000 USD · 2026-04-01 – 2026-06-30 Source

Operating cash flow

4.29 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 3133400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1892000000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 3631400000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 3133400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1428100000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2553500000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1428100000 USD · 2026-01-01 – 2026-03-31 Source

Capital expenditure

497 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 288200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 186400000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 437600000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 288200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 133400000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 245600000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 133400000 USD · 2026-01-01 – 2026-03-31 Source

Free cash flow

3.8 billion USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Operating cash flow: 3133400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1892000000 USD · 2025-01-01 – 2025-06-30 Source
  • Operating cash flow: 3631400000 USD · 2025-01-01 – 2025-12-31 Source
  • Operating cash flow: 3133400000 USD · 2025-01-01 – 2025-09-30 Source
  • Operating cash flow: 1428100000 USD · 2026-01-01 – 2026-03-31 Source
  • Operating cash flow: 2553500000 USD · 2026-01-01 – 2026-06-30 Source
  • Operating cash flow: 1428100000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 288200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 186400000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 437600000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 288200000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 133400000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 245600000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 133400000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-20.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 11 of 11 periods available· newest 2025-12-31
  • Operating income: 11 of 11 periods available· newest 2025-12-31
  • Net income: 11 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 11 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 11 of 11 periods available· newest 2025-12-31
  • Total assets: 11 of 11 periods available· newest 2025-12-31
  • Total liabilities: 11 of 11 periods available· newest 2025-12-31
  • Current assets: 11 of 11 periods available· newest 2025-12-31
  • Current liabilities: 11 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
  • long term debt: No compatible figures in this window
  • Shares outstanding: 11 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +8.9%

    Prior period

    USD 11.02 billion

    –

    Current period

    USD 12 billion

    –

    Exact inputs and evidence

    12001300000 − 11020100000 = 981200000 USD

    11020100000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    12001300000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 4.49 billion

    Prior period

    −USD 535.6 million

    –

    Current period

    USD 3.95 billion

    –

    Exact inputs and evidence

    3953200000 − -535600000 = 4488800000 USD

    -535600000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3953200000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    +USD 4.12 billion

    Prior period

    −USD 492.6 million

    –

    Current period

    USD 3.63 billion

    –

    Exact inputs and evidence

    3631400000 − -492600000 = 4124000000 USD

    -492600000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    3631400000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    +47%

    Prior period

    USD 297.7 million

    –

    Current period

    USD 437.6 million

    –

    Exact inputs and evidence

    437600000 − 297700000 = 139900000 USD

    297700000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    437600000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 12 billion 100% of revenue
  • Operating costs Derived USD 7.83 billion 65% of revenue
  • Operating income USD 4.17 billion 35% of revenue
  • Tax, interest and other Derived USD 220.1 million 1.8% of revenue
  • Net income USD 3.95 billion 33% of revenue

Cash

  • Operating cash flow USD 3.63 billion 30% of revenue
  • Capital expenditure USD 437.6 million 3.6% of revenue
  • Free cash flow Derived USD 3.19 billion 27% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2016 Net loss: net income was −6.6% of revenue.
  • 2017 Net income was higher than operating income, so the split is not drawn.
  • 2018 Net income was higher than operating income, so the split is not drawn.
  • 2019 28%71%
  • 2020 44%54%
  • 2021 31%63%
  • 2022 37%11%52%
  • 2023 37%61%
  • 2024 Operating loss: operating costs were 102% of revenue.
  • 2025 33%65%
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2016 2016-01-01 – 2016-12-311702177000 1692241000 Derived 9936000 121988000 Derived -112052000 179540000 Derived
Source
2017 2017-01-01 – 2017-12-312488652000 2365409000 Derived 123243000 -140241000 Derived 263484000 745521000 Derived
Source
2018 2018-01-01 – 2018-12-313047597000 2412447000 Derived 635150000 -1461746000 Derived 2096896000 1174837000 Derived
Source
2019 2019-01-01 – 2019-12-314162800000 2965300000 Derived 1197500000 20700000 Derived 1176800000 1493900000 Derived
Source
2020 2020-01-01 – 2020-12-316205700000 3349400000 Derived 2856300000 144600000 Derived 2711700000 2993700000 Derived
Source
2021 2021-01-01 – 2021-12-317574400000 4792300000 Derived 2782100000 440000000 Derived 2342100000 2408500000 Derived
Source
2022 2022-01-01 – 2022-12-318930700000 4623300000 Derived 4307400000 985400000 Derived 3322000000 3925200000 Derived
Source
2023 2023-01-01 – 2023-12-319869200000 6037200000 Derived 3832000000 212400000 Derived 3619600000 3336900000 Derived
Source
2024 2024-01-01 – 2024-12-3111020100000 11253000000 Derived -232900000 302700000 Derived -535600000 -790300000 Derived
Source
2025 2025-01-01 – 2025-12-3112001300000 7828000000 Derived 4173300000 220100000 Derived 3953200000 3193800000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 12B 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.13.0B9.7B6.5B3.2B0.0201620212025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Revenue1702177000
2017Revenue2488652000
2018Revenue3047597000
2019Revenue4162800000
2020Revenue6205700000
2021Revenue7574400000
2022Revenue8930700000
2023Revenue9869200000
2024Revenue11020100000
2025Revenue12001300000

Revenue growth

Change in revenue from the same financial period one year earlier.

8.9% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.70%53%35%18%0%201620212025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2016Year over year64.9%
2017Year over year46.2%
2018Year over year22.5%
2019Year over year36.6%
2020Year over year49.1%
2021Year over year22.1%
2022Year over year17.9%
2023Year over year10.5%
2024Year over year11.7%
2025Year over year8.9%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 34.8% 2025
Net margin 32.9% 2025
Free cash flow margin 26.6% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.75%53%31%9%-13%201620212025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2016Operating margin0.6%
2017Operating margin5%
2018Operating margin20.8%
2019Operating margin28.8%
2020Operating margin46%
2021Operating margin36.7%
2022Operating margin48.2%
2023Operating margin38.8%
2024Operating margin-2.1%
2025Operating margin34.8%
2016Net margin-6.6%
2017Net margin10.6%
2018Net margin68.8%
2019Net margin28.3%
2020Net margin43.7%
2021Net margin30.9%
2022Net margin37.2%
2023Net margin36.7%
2024Net margin-4.9%
2025Net margin32.9%
2016Free cash flow margin10.5%
2017Free cash flow margin30%
2018Free cash flow margin38.5%
2019Free cash flow margin35.9%
2020Free cash flow margin48.2%
2021Free cash flow margin31.8%
2022Free cash flow margin44%
2023Free cash flow margin33.8%
2024Free cash flow margin-7.2%
2025Free cash flow margin26.6%

Operating cash flow

Cash generated by the company’s normal business operations.

USD 3.6B 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.5B3.2B1.8B478.1M-862.4M201620212025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Operating cash flow236103000
2017Operating cash flow844942000
2018Operating cash flow1270286000
2019Operating cash flow1569300000
2020Operating cash flow3253500000
2021Operating cash flow2643500000
2022Operating cash flow4129900000
2023Operating cash flow3537300000
2024Operating cash flow-492600000
2025Operating cash flow3631400000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 3.2B 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.4.3B2.9B1.6B200.0M-1.2B201620212025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2016Free cash flow179540000
2017Free cash flow745521000
2018Free cash flow1174837000
2019Free cash flow1493900000
2020Free cash flow2993700000
2021Free cash flow2408500000
2022Free cash flow3925200000
2023Free cash flow3336900000
2024Free cash flow-790300000
2025Free cash flow3193800000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

27.2% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.58%44%29%15%0%201620212025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2016Liabilities / assets53.8%
2017Liabilities / assets42.4%
2018Liabilities / assets29%
2019Liabilities / assets26.8%
2020Liabilities / assets26.1%
2021Liabilities / assets24.8%
2022Liabilities / assets23.3%
2023Liabilities / assets22.7%
2024Liabilities / assets27.2%
2025Liabilities / assets27.2%

Current assets to current liabilities

Current assets divided by current liabilities.

2.9× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.5.21×3.91×2.61×1.30×0.00×201620212025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2016Current assets / current liabilities2.31×
2017Current assets / current liabilities3.28×
2018Current assets / current liabilities3.43×
2019Current assets / current liabilities3.61×
2020Current assets / current liabilities4.33×
2021Current assets / current liabilities4.46×
2022Current assets / current liabilities4.83×
2023Current assets / current liabilities3.99×
2024Current assets / current liabilities2.69×
2025Current assets / current liabilities2.9×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2016 2016-01-01 – 2016-12-31
−USD 112.05 million
Exact value

Exact value: -112052000 USD

2016-01-01 – 2016-12-31: -112052000 USD Inspect Net Income Open source
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USD 236.1 million
Exact value

Exact value: 236103000 USD

2016-01-01 – 2016-12-31: 236103000 USD Inspect Operating Cash Flow Open source
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USD 56.56 million
Exact value

Exact value: 56563000 USD

2016-01-01 – 2016-12-31: 56563000 USD Inspect Capital Expenditure Open source
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USD 179.54 million
Calculation and evidence

236103000 − 56563000 USD

Exact free cash flow: 179540000 USD

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2017 2017-01-01 – 2017-12-31
USD 263.48 million
Exact value

Exact value: 263484000 USD

2017-01-01 – 2017-12-31: 263484000 USD Inspect Net Income Open source
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USD 844.94 million
Exact value

Exact value: 844942000 USD

2017-01-01 – 2017-12-31: 844942000 USD Inspect Operating Cash Flow Open source
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USD 99.42 million
Exact value

Exact value: 99421000 USD

2017-01-01 – 2017-12-31: 99421000 USD Inspect Capital Expenditure Open source
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USD 745.52 million
Calculation and evidence

844942000 − 99421000 USD

Exact free cash flow: 745521000 USD

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2018 2018-01-01 – 2018-12-31
USD 2.1 billion
Exact value

Exact value: 2096896000 USD

2018-01-01 – 2018-12-31: 2096896000 USD Inspect Net Income Open source
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USD 1.27 billion
Exact value

Exact value: 1270286000 USD

2018-01-01 – 2018-12-31: 1270286000 USD Inspect Operating Cash Flow Open source
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USD 95.45 million
Exact value

Exact value: 95449000 USD

2018-01-01 – 2018-12-31: 95449000 USD Inspect Capital Expenditure Open source
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USD 1.17 billion
Calculation and evidence

1270286000 − 95449000 USD

Exact free cash flow: 1174837000 USD

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2019 2019-01-01 – 2019-12-31
USD 1.18 billion
Exact value

Exact value: 1176800000 USD

2019-01-01 – 2019-12-31: 1176800000 USD Inspect Net Income Open source
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USD 1.57 billion
Exact value

Exact value: 1569300000 USD

2019-01-01 – 2019-12-31: 1569300000 USD Inspect Operating Cash Flow Open source
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USD 75.4 million
Exact value

Exact value: 75400000 USD

2019-01-01 – 2019-12-31: 75400000 USD Inspect Capital Expenditure Open source
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USD 1.49 billion
Calculation and evidence

1569300000 − 75400000 USD

Exact free cash flow: 1493900000 USD

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2020 2020-01-01 – 2020-12-31
USD 2.71 billion
Exact value

Exact value: 2711700000 USD

2020-01-01 – 2020-12-31: 2711700000 USD Inspect Net Income Open source
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USD 3.25 billion
Exact value

Exact value: 3253500000 USD

2020-01-01 – 2020-12-31: 3253500000 USD Inspect Operating Cash Flow Open source
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USD 259.8 million
Exact value

Exact value: 259800000 USD

2020-01-01 – 2020-12-31: 259800000 USD Inspect Capital Expenditure Open source
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USD 2.99 billion
Calculation and evidence

3253500000 − 259800000 USD

Exact free cash flow: 2993700000 USD

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2021 2021-01-01 – 2021-12-31
USD 2.34 billion
Exact value

Exact value: 2342100000 USD

2021-01-01 – 2021-12-31: 2342100000 USD Inspect Net Income Open source
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USD 2.64 billion
Exact value

Exact value: 2643500000 USD

2021-01-01 – 2021-12-31: 2643500000 USD Inspect Operating Cash Flow Open source
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USD 235 million
Exact value

Exact value: 235000000 USD

2021-01-01 – 2021-12-31: 235000000 USD Inspect Capital Expenditure Open source
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USD 2.41 billion
Calculation and evidence

2643500000 − 235000000 USD

Exact free cash flow: 2408500000 USD

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2022 2022-01-01 – 2022-12-31
USD 3.32 billion
Exact value

Exact value: 3322000000 USD

2022-01-01 – 2022-12-31: 3322000000 USD Inspect Net Income Open source
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USD 4.13 billion
Exact value

Exact value: 4129900000 USD

2022-01-01 – 2022-12-31: 4129900000 USD Inspect Operating Cash Flow Open source
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USD 204.7 million
Exact value

Exact value: 204700000 USD

2022-01-01 – 2022-12-31: 204700000 USD Inspect Capital Expenditure Open source
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USD 3.93 billion
Calculation and evidence

4129900000 − 204700000 USD

Exact free cash flow: 3925200000 USD

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2023 2023-01-01 – 2023-12-31
USD 3.62 billion
Exact value

Exact value: 3619600000 USD

2023-01-01 – 2023-12-31: 3619600000 USD Inspect Net Income Open source
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USD 3.54 billion
Exact value

Exact value: 3537300000 USD

2023-01-01 – 2023-12-31: 3537300000 USD Inspect Operating Cash Flow Open source
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USD 200.4 million
Exact value

Exact value: 200400000 USD

2023-01-01 – 2023-12-31: 200400000 USD Inspect Capital Expenditure Open source
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USD 3.34 billion
Calculation and evidence

3537300000 − 200400000 USD

Exact free cash flow: 3336900000 USD

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2024 2024-01-01 – 2024-12-31
−USD 535.6 million
Exact value

Exact value: -535600000 USD

2024-01-01 – 2024-12-31: -535600000 USD Inspect Net Income Open source
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−USD 492.6 million
Exact value

Exact value: -492600000 USD

2024-01-01 – 2024-12-31: -492600000 USD Inspect Operating Cash Flow Open source
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USD 297.7 million
Exact value

Exact value: 297700000 USD

2024-01-01 – 2024-12-31: 297700000 USD Inspect Capital Expenditure Open source
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−USD 790.3 million
Calculation and evidence

-492600000 − 297700000 USD

Exact free cash flow: -790300000 USD

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2025 2025-01-01 – 2025-12-31
USD 3.95 billion
Exact value

Exact value: 3953200000 USD

2025-01-01 – 2025-12-31: 3953200000 USD Inspect Net Income Open source
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USD 3.63 billion
Exact value

Exact value: 3631400000 USD

2025-01-01 – 2025-12-31: 3631400000 USD Inspect Operating Cash Flow Open source
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USD 437.6 million
Exact value

Exact value: 437600000 USD

2025-01-01 – 2025-12-31: 437600000 USD Inspect Capital Expenditure Open source
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USD 3.19 billion
Calculation and evidence

3631400000 − 437600000 USD

Exact free cash flow: 3193800000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

164 filings · 5,845 latest values · 5,845 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0000875320, 875320, VRTX, edgar:875320

Also known as VERTEX PHARMACEUTICALS INC / MA