Revenue
$12.00B
Fiscal year ended 2025-12-31Operating income
$4.17B
Fiscal year ended 2025-12-31Free cash flow
$3.19B
Fiscal year ended 2025-12-31VERTEX PHARMACEUTICALS INC / MA (VRTX) reported revenue of $12.00B and net income of $3.95B for the fiscal year ended 2025-12-31. This page shows 10 annual periods of income statement, balance sheet and cash flow figures normalized from VERTEX PHARMACEUTICALS INC / MA’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Pharmaceutical Preparations.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| Operating income | $4.17B | -$232.90M | $3.83B | $4.31B | $2.78B | $2.86B | $1.20B | $635.15M | $123.24M | $9.94M |
| Net income | $3.95B | -$535.60M | $3.62B | $3.32B | $2.34B | $2.71B | $1.18B | $2.10B | $263.48M | -$112.05M |
| Research & development | Unavailable | Unavailable | Unavailable | Unavailable | $3.05B | $1.83B | $1.75B | $1.42B | $1.32B | $1.05B |
| Weighted-average diluted shares | shares 258.00M | shares 257.90M | shares 260.50M | shares 259.10M | shares 259.90M | shares 263.40M | shares 260.70M | shares 259.18M | shares 253.22M | shares 244.68M |
| Pretax income | $4.64B | $248.50M | $4.38B | $4.23B | $2.73B | $3.12B | $1.39B | $600.24M | -$15.69M | -$67.37M |
| Income tax expense | $690.00M | $784.10M | $760.20M | $910.40M | $388.30M | $405.20M | $218.10M | -$1.49B | -$107.32M | $16.66M |
| Diluted EPS | $15.32 | $-2.08 | $13.89 | $12.82 | $9.01 | $10.29 | $4.51 | $8.09 | $1.04 | $-0.46 |
| Selling, general & administrative | $1.75B | $1.46B | $1.14B | $944.70M | $840.10M | $770.50M | $658.50M | $557.62M | $496.08M | $432.83M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $5.08B | $4.57B | $10.37B | $10.50B | $6.80B | $5.99B | $3.11B | $2.65B | $1.67B | $1.18B |
| Total assets | $25.64B | $22.53B | $22.73B | $18.15B | $13.43B | $11.75B | $8.32B | $6.25B | $3.55B | $2.90B |
| Current assets | $11.20B | $9.60B | $14.14B | $13.23B | $9.56B | $8.13B | $4.82B | $3.84B | $2.65B | $1.83B |
| Total liabilities | $6.98B | $6.12B | $5.15B | $4.24B | $3.33B | $3.06B | $2.23B | $1.81B | $1.50B | $1.56B |
| Current liabilities | $3.86B | $3.56B | $3.55B | $2.74B | $2.14B | $1.88B | $1.33B | $1.12B | $807.26M | $792.54M |
| Total equity incl. NCI | $18.67B | $16.41B | $17.58B | $13.91B | $10.10B | $8.69B | $6.09B | $4.44B | $2.04B | $1.34B |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Inventory | $1.69B | $1.21B | $738.80M | $460.60M | $353.10M | $280.80M | $167.50M | $124.36M | $111.83M | $77.60M |
| Accounts receivable | $2.05B | $1.61B | $1.56B | $1.44B | $1.14B | $885.40M | $633.52M | $409.69M | $281.34M | $200.36M |
| Goodwill | $1.09B | $1.09B | $1.09B | $1.09B | $1.00B | $1.00B | $1.00B | $50.38M | $50.38M | $50.38M |
| Long-term debt | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Accounts payable | $461.70M | $413.00M | $364.90M | $303.90M | $195.00M | $155.10M | $87.61M | $110.99M | $73.99M | $61.45M |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| 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 |
| 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 |
| Net change in cash | $515.60M | -$5.80B | -$139.70M | $3.71B | $811.20M | $2.87B | $462.40M | $990.73M | $435.82M | $415.95M |
| Stock-based compensation | $685.90M | $698.50M | $581.20M | $491.30M | $441.40M | $429.50M | $360.50M | $325.05M | $293.24M | $240.62M |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | $2.02B | $1.18B | $427.60M | $0 | $1.43B | $539.10M | $186.00M | $350.04M | $0 | $0 |
| Depreciation & amortization | $209.80M | $207.20M | $181.30M | $148.30M | $125.60M | $109.50M | $106.90M | $72.42M | $61.40M | $61.40M |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 | 2016-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Free cash flow | $3.19B | -$790.30M | $3.34B | $3.93B | $2.41B | $2.99B | $1.49B | $1.17B | $745.52M | $179.54M |
| Gross margin | 86.2% | 86.1% | 87.2% | 87.9% | 88.1% | 88.1% | 86.8% | 86.6% | 88.9% | 87.6% |
| Operating margin | 34.8% | -2.1% | 38.8% | 48.2% | 36.7% | 46.0% | 28.8% | 20.8% | 5.0% | 0.6% |
| FCF margin | 26.6% | -7.2% | 33.8% | 44.0% | 31.8% | 48.2% | 35.9% | 38.5% | 30.0% | 10.5% |
| SBC / revenue | 5.7% | 6.3% | 5.9% | 5.5% | 5.8% | 6.9% | 8.7% | 10.7% | 11.8% | 14.1% |
| Current ratio | 2.90x | 2.69x | 3.99x | 4.83x | 4.46x | 4.33x | 3.61x | 3.43x | 3.28x | 2.31x |
| Revenue YoY growth | 8.9% | 11.7% | 10.5% | 17.9% | 22.1% | 49.1% | 36.6% | 22.5% | 46.2% | Unavailable |
| Net margin | 32.9% | -4.9% | 36.7% | 37.2% | 30.9% | 43.7% | 28.3% | 68.8% | 10.6% | -6.6% |
| R&D / revenue | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | 42.1% | 46.5% | 53.2% | 61.6% |
| CapEx / revenue | 3.6% | 2.7% | 2.0% | 2.3% | 3.1% | 4.2% | 1.8% | 3.1% | 4.0% | 3.3% |
| Long-term debt / equity | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | 14.9% | 315.5% | 17.4% | 21.5% | 14.2% | 13.0% | 15.6% | -247.7% | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open VRTX in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-05View SEC filing
10-K · Filed 2026-02-13View SEC filing
10-Q · Filed 2025-11-04View SEC filing
10-Q · Filed 2025-08-05View SEC filing
10-Q · Filed 2025-05-06View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.