Valuation, from the filing
| Public float | $113.40B | Market value of stock held by non-affiliates, as stated on the cover page for 2025-06-30 |
|---|---|---|
| Float per share | $446.40 | Float divided by shares outstanding in the same filing. A floor under the share price on that date, not the price itself. |
| Float / net income | 28.7× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / revenue | 9.4× | A lower bound on the multiple, because affiliate holdings are excluded. |
| Float / equity | 6.1× | A lower bound on the multiple, because affiliate holdings are excluded. |
Every figure here is drawn from the 10-K cover page and the statements behind it, so each one traces to a filing. Public float counts only stock held by non-affiliates, which makes these floors rather than estimates: a high multiple is conclusive, a low one may mean cheap or may mean closely held. The float was measured on 2025-06-30, not today, and each multiple below it uses the figures for the fiscal year ending 2025-12-31 — the year that filing covered.
Valuation over time
28.7× earnings today, against a median of 26.3× across 8 years on record. In line with its own history.
| Float measured | Public float | Float / net income | |
|---|---|---|---|
| 2025-06-30 | $113.40B | 28.7× | |
| 2023-06-30 | $90.70B | 25.1× | |
| 2022-06-30 | $71.80B | 21.6× | |
| 2021-06-30 | $51.60B | 22.0× | |
| 2020-06-30 | $74.80B | 27.6× | |
| 2019-06-28 | $46.70B | 39.7× | |
| 2018-06-29 | $42.50B | 20.3× | |
| 2017-06-30 | $31.80B | 120.7× |
Each float is paired with the fiscal year the filing that stated it covers. Only years where the company reported positive net income appear, because a multiple against a loss is not a multiple.
How this compares in its industry
Percentile among the Pharmaceutical Preparations filers on this site, highest value first. A high percentile means a large figure, which is good for a margin and not for leverage — the ranking says where the company sits, not whether that is where it should be.
| Measure | Reported | Percentile | |
|---|---|---|---|
| Operating margin | 34.8% | 97th | |
| Net margin | 32.9% | 92th | |
| FCF margin | 26.6% | 92th | |
| SBC / revenue | 5.7% | 23th | |
| Gross margin | 86.2% | 75th | |
| CapEx / revenue | 3.6% | 62th | |
| Current ratio | 2.90x | 40th | |
| Revenue YoY growth | 8.9% | 57th | |
| Effective tax rate | 14.9% | 45th |
VERTEX PHARMACEUTICALS INC / MA (VRTX) reported revenue of $12.59B and net income of $4.41B for the fiscal year ended 2026-06-30. This page shows 1 annual period 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 | 2026-06-30 |
|---|---|
| Revenue | $12.59B |
| Cost of revenue | $1.76B |
| Gross profit | $10.82B |
| Operating income | $4.78B |
| Net income | $4.41B |
| Research & development | Unavailable |
| Weighted-average diluted shares | Unavailable |
| Pretax income | $5.27B |
| Income tax expense | $869.30M |
| Diluted EPS | Unavailable |
| Selling, general & administrative | $2.01B |
| General & administrative | Unavailable |
| Selling & marketing | Unavailable |
Balance
| Metric | 2026-06-30 |
|---|---|
| Cash & equivalents | $6.14B |
| Total assets | $27.42B |
| Current assets | $12.54B |
| Total liabilities | $7.18B |
| Current liabilities | $3.94B |
| Total equity incl. NCI | $20.25B |
| Temporary (mezzanine) equity | Unavailable |
| Inventory | $1.77B |
| Accounts receivable | $2.13B |
| Goodwill | $1.09B |
| Long-term debt | Unavailable |
| Accounts payable | $429.50M |
Cash flow
| Metric | 2026-06-30 |
|---|---|
| Operating cash flow | $4.29B |
| Capital expenditures | $496.80M |
| Investing cash flow | -$882.80M |
| Financing cash flow | -$2.20B |
| Net change in cash | $1.17B |
| Stock-based compensation | $689.10M |
| Common dividends paid | Unavailable |
| Common share repurchases | $2.01B |
| Depreciation & amortization | $222.10M |
Derived
| Metric | 2026-06-30 |
|---|---|
| Free cash flow | $3.80B |
| Gross margin | 86.0% |
| Operating margin | 38.0% |
| FCF margin | 30.2% |
| SBC / revenue | 5.5% |
| Current ratio | 3.19x |
| Revenue YoY growth | 10.2% |
| Net margin | 35.0% |
| R&D / revenue | Unavailable |
| CapEx / revenue | 3.9% |
| Long-term debt / equity | Unavailable |
| Effective tax rate | 16.5% |
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
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.