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Vertex Pharmaceuticals

VRTX Clue Score74
United States Fiscal year ends December CIK 0000875320
$510.08 +1.36% Close, 9 Oct 2026
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Price $510.08 +184.04% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue1.70Operating income0.01Net income−0.11EPS, diluted−0.46Fiscal year 2017Revenue2.49 +46.2%Operating income0.12Net income0.26EPS, diluted1.04Fiscal year 2018Revenue3.05 +22.5%Operating income0.64Net income2.10 +695.8%EPS, diluted8.09 +677.9%Fiscal year 2019Revenue4.16 +36.6%Operating income1.20Net income1.18 −43.9%EPS, diluted4.51 −44.3%Fiscal year 2020Revenue6.21 +49.1%Operating income2.86Net income2.71 +130.4%EPS, diluted10.29 +128.2%Fiscal year 2021Revenue7.57 +22.1%Operating income2.78Net income2.34 −13.6%EPS, diluted9.01 −12.4%Fiscal year 2022Revenue8.93 +17.9%Operating income4.31Net income3.32 +41.8%EPS, diluted12.82 +42.3%Fiscal year 2023Revenue9.87 +10.5%Operating income3.83Net income3.62 +9.0%EPS, diluted13.89 +8.3%Fiscal year 2024Revenue11.02 +11.7%Operating income−0.23Net income−0.54 −114.8%EPS, diluted−2.08 −115.0%Fiscal year 2025Revenue12.00 +8.9%Operating income4.17Net income3.95EPS, diluted15.32
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 1.70 2.49 3.05 4.16 6.21 7.57 8.93 9.87 11.02 12.00
Growth +46.2% +22.5% +36.6% +49.1% +22.1% +17.9% +10.5% +11.7% +8.9%
Operating income 0.01 0.12 0.64 1.20 2.86 2.78 4.31 3.83 −0.23 4.17
Net income −0.11 0.26 2.10 1.18 2.71 2.34 3.32 3.62 −0.54 3.95
Growth +695.8% −43.9% +130.4% −13.6% +41.8% +9.0% −114.8%
EPS, diluted −0.46 1.04 8.09 4.51 10.29 9.01 12.82 13.89 −2.08 15.32
Growth +677.9% −44.3% +128.2% −12.4% +42.3% +8.3% −115.0%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin0.6%Net margin−6.6%Free cash flow margin10.5%Fiscal year 2017Operating margin5.0%Net margin10.6%Free cash flow margin30.0%Fiscal year 2018Operating margin20.8%Net margin68.8%Free cash flow margin38.5%Fiscal year 2019Operating margin28.8%Net margin28.3%Free cash flow margin35.9%Fiscal year 2020Operating margin46.0%Net margin43.7%Free cash flow margin48.2%Fiscal year 2021Operating margin36.7%Net margin30.9%Free cash flow margin31.8%Fiscal year 2022Operating margin48.2%Net margin37.2%Free cash flow margin44.0%Fiscal year 2023Operating margin38.8%Net margin36.7%Free cash flow margin33.8%Fiscal year 2024Operating margin−2.1%Net margin−4.9%Free cash flow margin−7.2%Fiscal year 2025Operating margin34.8%Net margin32.9%Free cash flow margin26.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 0.6% 5.0% 20.8% 28.8% 46.0% 36.7% 48.2% 38.8% −2.1% 34.8%
Net margin −6.6% 10.6% 68.8% 28.3% 43.7% 30.9% 37.2% 36.7% −4.9% 32.9%
Free cash flow margin 10.5% 30.0% 38.5% 35.9% 48.2% 31.8% 44.0% 33.8% −7.2% 26.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow0.24Capital expenditure−0.06Free cash flow0.18Buybacks0.00Fiscal year 2017Operating cash flow0.84Capital expenditure−0.10Free cash flow0.75 +315.2%Buybacks0.00Fiscal year 2018Operating cash flow1.27Capital expenditure−0.10Free cash flow1.17 +57.6%Buybacks−0.35Fiscal year 2019Operating cash flow1.57Capital expenditure−0.08Free cash flow1.49 +27.2%Buybacks−0.19Fiscal year 2020Operating cash flow3.25Capital expenditure−0.26Free cash flow2.99 +100.4%Buybacks−0.54Fiscal year 2021Operating cash flow2.64Capital expenditure−0.24Free cash flow2.41 −19.5%Buybacks−1.43Fiscal year 2022Operating cash flow4.13Capital expenditure−0.20Free cash flow3.93 +63.0%Buybacks0.00Fiscal year 2023Operating cash flow3.54Capital expenditure−0.20Free cash flow3.34 −15.0%Buybacks−0.43Fiscal year 2024Operating cash flow−0.49Capital expenditure−0.30Free cash flow−0.79 −123.7%Buybacks−1.18Fiscal year 2025Operating cash flow3.63Capital expenditure−0.44Free cash flow3.19Buybacks−2.02
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 0.24 0.84 1.27 1.57 3.25 2.64 4.13 3.54 −0.49 3.63
Capital expenditure −0.06 −0.10 −0.10 −0.08 −0.26 −0.24 −0.20 −0.20 −0.30 −0.44
Free cash flow 0.18 0.75 1.17 1.49 2.99 2.41 3.93 3.34 −0.79 3.19
Growth +315.2% +57.6% +27.2% +100.4% −19.5% +63.0% −15.0% −123.7%
Buybacks 0.00 0.00 −0.35 −0.19 −0.54 −1.43 0.00 −0.43 −1.18 −2.02

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
Cash
Fiscal year 2016Cash1.18Shareholders’ equity1.16Fiscal year 2017Cash1.67Shareholders’ equity2.03Fiscal year 2018Cash2.65Shareholders’ equity4.44Fiscal year 2019Cash3.11Shareholders’ equity6.09Fiscal year 2020Cash5.99Shareholders’ equity8.69Fiscal year 2021Cash6.80Shareholders’ equity10.10Fiscal year 2022Cash10.50Shareholders’ equity13.91Fiscal year 2023Cash10.37Shareholders’ equity17.58Fiscal year 2024Cash4.57Shareholders’ equity16.41Fiscal year 2025Cash5.08Shareholders’ equity18.67
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 1.18 1.67 2.65 3.11 5.99 6.80 10.50 10.37 4.57 5.08
Shareholders’ equity 1.16 2.03 4.44 6.09 8.69 10.10 13.91 17.58 16.41 18.67

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
1.70 2.49 3.05 4.16 6.21 7.57 8.93 9.87 11.02 12.00
Growth +46.2% +22.5% +36.6% +49.1% +22.1% +17.9% +10.5% +11.7% +8.9%
0.21 0.28 0.41 0.55 0.74 0.90 1.08 1.26 1.53 1.65
1.05 1.32 1.42 1.75 1.83 3.05 n/a n/a n/a n/a
0.43 0.50 0.56 0.66 0.77 0.84 0.94 1.14 1.46 1.75
0.01 0.12 0.64 1.20 2.86 2.78 4.31 3.83 −0.23 4.17
Growth +1,140.4% +415.4% +88.5% +138.5% −2.6% +54.8% −11.0% −106.1%
−0.07 −0.02 0.60 1.39 3.12 2.73 4.23 4.38 0.25 4.64
0.02 −0.11 −1.49 0.22 0.41 0.39 0.91 0.76 0.78 0.69
−0.11 0.26 2.10 1.18 2.71 2.34 3.32 3.62 −0.54 3.95
Growth +695.8% −43.9% +130.4% −13.6% +41.8% +9.0% −114.8%
Per share
−0.46 1.06 8.24 4.58 10.44 9.09 12.97 14.05 −2.08 15.46
−0.46 1.04 8.09 4.51 10.29 9.01 12.82 13.89 −2.08 15.32
Growth +677.9% −44.3% +128.2% −12.4% +42.3% +8.3% −115.0%
244.7 248.9 254.3 256.7 259.8 257.7 256.1 257.7 257.9 255.7
244.7 253.2 259.2 260.7 263.4 259.9 259.1 260.5 257.9 258.0
Growth +3.5% +2.4% +0.6% +1.0% −1.3% −0.3% +0.5% −1.0% +0.0%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 14.1% a year over five years, and earnings per share grew 8.3% a year.
  • The diluted share count fell 2.1% in five years, so buybacks did some of the work per share.
  • Operating margin is down 11.3 points on five years ago, at 34.8%.
  • A net loss in 2 of 10 years on file.