Cash flow United Therapeutics Corporation

Equities

UTHR

US91307C1027

Pharmaceuticals

Market Closed - Nasdaq Other stock markets 16:00:00 2026-02-06 EST			5-day change	1st Jan Change
485.36 ^USD	+1.34%		+3.38%	-0.39%

01-26	United Therapeutics Corporation Announces Positive Results from Phase 1 Study of MiroliverELAP® in Patients with Acute Liver Failure	CI
01-26	United Therapeutics Says Its Experimental Liver Assist Device Met Primary Goal in Phase 1 Study	MT

2.AHBTcPAZP3rKJhc0KoONKplUMBfel9QukZh0TcpKiv0.UxtjCrZjCi-bQ3NTXs7vbfwnCFS8r6Za19sCHbsIyLdyMiZJsU1nOP1BIw

Published financial data: UNITED THERAPEUTICS CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	1.48B	1.69B	1.94B	2.33B	2.88B
Other Revenues, Total	-	-	-	-	-
Total Revenues	1.48B	1.69B	1.94B	2.33B	2.88B
Cost of Goods Sold, Total	108M	122M	152M	258M	310M
Gross Profit	1.38B	1.56B	1.78B	2.07B	2.57B
Selling General & Admin Expenses, Total	426M	466M	473M	476M	640M
R&D Expenses	358M	410M	323M	408M	481M
Other Operating Expenses, Total	784M	876M	796M	884M	1.12B
Operating Income	591M	687M	989M	1.19B	1.45B
Interest Expense, Total	-23.5M	-18.6M	-32.4M	-59.3M	-42.9M
Interest And Investment Income	28.6M	16.7M	45.2M	163M	199M
Net Interest Expenses	5.1M	-1.9M	12.8M	103M	156M
Other Non Operating Income (Expenses)	2.8M	-7M	-74.2M	-27.3M	-1.4M
EBT, Excl. Unusual Items	599M	678M	928M	1.26B	1.6B
Merger & Related Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	41.5M	48.5M	34.2M	15.8M	9M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-133M	-11.2M	-3.6M	-
Legal Settlements	-	-	-	-	-71.1M
Other Unusual Items	-1.5M	-	-	-	-
EBT, Incl. Unusual Items	639M	594M	951M	1.27B	1.54B
Income Tax Expense	124M	118M	223M	290M	344M
Earnings From Continuing Operations	515M	476M	727M	985M	1.2B
Net Income to Company	515M	476M	727M	985M	1.2B
Net Income - (IS)	515M	476M	727M	985M	1.2B
Net Income to Common Incl Extra Items	515M	476M	727M	985M	1.2B
Net Income to Common Excl. Extra Items	515M	476M	727M	985M	1.2B
Per Share Items
Net EPS - Basic	11.65	10.6	15.98	21.04	26.44
Basic EPS - Continuing Operations	11.65	10.6	15.98	21.04	26.44
Basic Weighted Average Shares Outstanding	44.2M	44.9M	45.5M	46.8M	45.2M
Net EPS - Diluted	11.54	10.06	15	19.81	24.64
Diluted EPS - Continuing Operations	11.54	10.06	15	19.81	24.64
Diluted Weighted Average Shares Outstanding	44.6M	47.3M	48.5M	49.7M	48.5M
Normalized Basic EPS	8.47	9.44	12.74	16.85	22.14
Normalized Diluted EPS	8.39	8.96	11.95	15.87	20.63
American Depositary Receipts Ratio (ADR)	0.05	0.05	0.05	0.05	0.05
Supplemental Items
EBITDA	641M	737M	1.04B	1.24B	1.52B
EBITA	591M	687M	989M	1.19B	1.45B
EBIT	591M	687M	989M	1.19B	1.45B
EBITDAR	644M	740M	1.05B	1.24B	1.53B
Total Revenues (As Reported)	1.48B	1.69B	-	-	-
Effective Tax Rate - (Ratio)	19.42	19.89	23.49	22.72	22.35
Current Domestic Taxes	135M	137M	274M	354M	408M
Current Foreign Taxes	-	-	-	-	-
Total Current Taxes	135M	137M	274M	354M	408M
Deferred Domestic Taxes	-10.5M	-18.8M	-50.8M	-64.4M	-64.1M
Deferred Foreign Taxes	-	-	-	-	-
Total Deferred Taxes	-10.5M	-18.8M	-50.8M	-64.4M	-64.1M
Normalized Net Income	374M	424M	580M	789M	1B
Interest on Long-Term Debt	-	18.6M	32.4M	59.3M	42.9M
Non-Cash Pension Expense	2.6M	1.6M	1.9M	-3.5M	-3.4M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	358M	540M	323M	408M	481M
Net Rental Expense, Total	3.5M	3.6M	4.8M	5.7M	7.6M
Imputed Operating Lease Interest Expense	788K	662K	1.52M	3.53M	5.02M
Imputed Operating Lease Depreciation	2.71M	2.94M	3.28M	2.17M	2.58M
Stock-Based Comp., COGS (Total)	7.1M	5.8M	4.9M	2.4M	5.4M
Stock-Based Comp., R&D Exp. (Total)	29.5M	24.4M	23.8M	15.6M	29.1M
Stock-Based Comp., SG&A Exp. (Total)	127M	108M	78.1M	21.1M	110M
Total Stock-Based Compensation	164M	138M	107M	39.1M	144M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	739M	895M	961M	1.21B	1.7B
Short Term Investments	1.1B	1.04B	1.88B	1.79B	1.57B
Total Cash And Short Term Investments	1.84B	1.93B	2.84B	2.99B	3.27B
Accounts Receivable, Total	157M	199M	220M	279M	279M
Other Receivables	-	-	70M	21M	-
Total Receivables	157M	199M	290M	300M	279M
Inventory	86.5M	93.8M	102M	112M	158M
Other Current Assets, Total	88.3M	100M	149M	145M	170M
Total Current Assets	2.17B	2.32B	3.38B	3.55B	3.87B
Gross Property Plant And Equipment	1.04B	1.12B	1.24B	1.47B	1.71B
Accumulated Depreciation	-309M	-342M	-383M	-428M	-491M
Net Property Plant And Equipment	732M	781M	862M	1.05B	1.22B
Long-term Investments	1.23B	1.68B	1.34B	1.94B	1.53B
Goodwill	28M	28M	28M	33.7M	32.3M
Other Intangibles, Total	130M	16.6M	16.5M	80.5M	79.6M
Deferred Tax Assets Long-Term	239M	262M	328M	395M	458M
Deferred Charges Long-Term	9.3M	6.9M	10.5M	-	-
Other Long-Term Assets, Total	75.8M	70.2M	75.3M	123M	163M
Total Assets	4.62B	5.17B	6.04B	7.17B	7.36B
Liabilities
Accounts Payable, Total	4.1M	3.8M	4.1M	5.6M	6M
Accrued Expenses, Total	299M	291M	326M	358M	380M
Current Portion of Long-Term Debt	-	-	-	400M	300M
Current Portion of Leases	2.9M	3.1M	3.9M	4.7M	6.1M
Other Current Liabilities	17.5M	7.1M	9.1M	35.8M	45.7M
Total Current Liabilities	323M	305M	343M	804M	738M
Long-Term Debt	800M	800M	800M	300M	-
Long-Term Leases	17.1M	15.8M	27.8M	28.1M	32.5M
Pension & Other Post Retirement Benefits	49.5M	48.9M	32M	18.3M	21.3M
Other Non Current Liabilities	29.9M	40.1M	44.8M	31.4M	128M
Total Liabilities	1.22B	1.21B	1.25B	1.18B	920M
Common Stock, Total	700K	700K	700K	700K	800K
Additional Paid In Capital	2.15B	2.25B	2.39B	2.55B	2.7B
Retained Earnings	3.84B	4.32B	5.04B	6.03B	7.22B
Treasury Stock	-2.58B	-2.58B	-2.58B	-2.58B	-3.47B
Comprehensive Income and Other	-14.2M	-23M	-55.5M	-12.8M	-3.4M
Total Common Equity	3.4B	3.96B	4.8B	5.98B	6.44B
Total Equity	3.4B	3.96B	4.8B	5.98B	6.44B
Total Liabilities And Equity	4.62B	5.17B	6.04B	7.17B	7.36B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	44.54M	45.13M	46.3M	47.06M	44.91M
ECS Total Common Shares Outstanding	44.51M	45.11M	46.03M	47.04M	44.83M
Book Value / Share	76.28	87.77	104.2	127.23	143.74
Tangible Book Value	3.24B	3.91B	4.75B	5.87B	6.33B
Tangible Book Value Per Share	72.73	86.78	103.24	124.8	141.24
Total Debt	820M	819M	832M	733M	339M
Net Debt	-2.16B	-2.76B	-3.32B	-4.17B	-4.4B
Debt Equivalent of Unfunded Proj. Benefit Obligation	68.6M	67.1M	51.5M	48.8M	52.1M
Debt Equivalent Oper. Leases	28M	28.8M	38.4M	45.6M	60.8M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	18.4M	17.6M	18M	21.7M	28.6M
Inventories - Work In Process, Total	29.5M	31.9M	33.3M	34.4M	34.3M
Inventories - Finished Goods, Total	38.6M	44.3M	50.7M	55.7M	95M
Land - (BS)	74.9M	133M	143M	148M	182M
Buildings, Total	594M	613M	637M	685M	864M
Machinery, Total	325M	323M	354M	381M	450M
Full Time Employees	950	965	985	1.17K	1.3K

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	515M	476M	727M	985M	1.2B
Depreciation & Amortization - CF	49.7M	49.8M	51.2M	52.9M	71.6M
Amortization of Goodwill and Intangible Assets - (CF)	200K	100K	100K	300K	900K
Depreciation & Amortization, Total	49.9M	49.9M	51.3M	53.2M	72.5M
Amortization of Deferred Charges, Total - (CF)	-	-	-	-	-
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	9.1M	-90.3M	-5.4M	-	-
Asset Writedown & Restructuring Costs	5.4M	133M	11.2M	3.6M	-
Stock-Based Compensation (CF)	164M	138M	107M	39.1M	144M
Tax Benefit from Stock Options	-	-	-	-	-
Other Operating Activities, Total	-47M	65.9M	52.5M	-4.9M	-24.3M
Change In Accounts Receivable	-6M	-41.3M	-21.7M	-58.5M	-400K
Change In Inventories	10.3M	-7.5M	-13.4M	-13.6M	-46.9M
Change In Accounts Payable	38.6M	-12.5M	44.5M	57.1M	42.7M
Change in Other Net Operating Assets	16.8M	-113M	-151M	-82.8M	-55.6M
Cash from Operations	756M	598M	802M	978M	1.33B
Capital Expenditure	-59.3M	-121M	-139M	-230M	-246M
Sale of Property, Plant, and Equipment	2.4M	-	-	-	-
Cash Acquisitions	-	-	-	-89.2M	-
Divestitures	-	-	-	-	-
Sale (Purchase) of Intangible assets	-	-	-	-	-
Investment in Marketable and Equity Securities, Total	-682M	-366M	-676M	-377M	692M
Other Investing Activities, Total	-	-	3.5M	-23M	-28.5M
Cash from Investing	-738M	-487M	-812M	-720M	417M
Long-Term Debt Issued, Total	-	-	800M	-	-
Total Debt Issued	-	-	800M	-	-
Long-Term Debt Repaid, Total	-50M	-	-800M	-100M	-400M
Total Debt Repaid	-50M	-	-800M	-100M	-400M
Issuance of Common Stock	38.5M	55.6M	94.3M	105M	160M
Repurchase of Common Stock	-3.7M	-10.8M	-11.4M	-13.8M	-1.01B
Other Financing Activities, Total	-1.7M	-	-7.5M	-2.7M	-2.7M
Cash from Financing	-16.9M	44.8M	75.4M	-11.9M	-1.25B
Foreign Exchange Rate Adjustments	-	-	-	-	-
Net Change in Cash	300K	156M	66.4M	246M	490M
Supplemental Items
Cash Interest Paid	20.7M	16.2M	29.1M	56M	40.2M
Cash Income Tax Paid (Refund)	92.8M	153M	276M	332M	401M
Levered Free Cash Flow	663M	404M	502M	607M	825M
Unlevered Free Cash Flow	678M	415M	523M	644M	852M
Change In Net Working Capital	-154M	81.7M	115M	-41.2M	22.4M
Net Debt Issued / Repaid	-50M	-	0	-100M	-400M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	8.66	8.78	11.02	11.22	12.44
Return on Total Capital	9.42	9.57	11.9	12.04	13.42
Return On Equity %	16.67	12.94	16.61	18.27	19.23
Return on Common Equity	16.67	12.94	16.61	18.27	19.23
Margin Analysis
Gross Profit Margin %	92.71	92.73	92.17	88.94	89.24
SG&A Margin	28.75	27.65	24.42	20.45	22.26
EBITDA Margin %	43.21	43.71	53.73	53.24	52.78
EBITA Margin %	39.86	40.76	51.08	50.97	50.3
EBIT Margin %	39.84	40.75	51.08	50.96	50.26
Income From Continuing Operations Margin %	34.71	28.23	37.56	42.31	41.53
Net Income Margin %	34.71	28.23	37.56	42.31	41.53
Net Avail. For Common Margin %	34.71	28.23	37.56	42.31	41.53
Normalized Net Income Margin	25.24	25.14	29.94	33.89	34.78
Levered Free Cash Flow Margin	44.69	23.94	25.95	26.09	28.66
Unlevered Free Cash Flow Margin	45.68	24.63	26.99	27.68	29.59
Asset Turnover
Asset Turnover	0.35	0.34	0.35	0.35	0.4
Fixed Assets Turnover	2.02	2.23	2.36	2.44	2.54
Receivables Turnover (Average Receivables)	9.61	9.47	9.24	9.32	10.31
Inventory Turnover (Average Inventory)	1.2	1.36	1.55	2.41	2.3
Short Term Liquidity
Current Ratio	6.7	7.61	9.85	4.41	5.25
Quick Ratio	6.16	6.97	9.12	4.09	4.8
Operating Cash Flow to Current Liabilities	2.34	1.96	2.34	1.22	1.8
Days Sales Outstanding (Average Receivables)	38.1	38.56	39.5	39.15	35.5
Days Outstanding Inventory (Average Inventory)	304.55	268.61	235.71	151.53	159.36
Average Days Payable Outstanding	25.32	11.11	9.02	6.62	5.97
Cash Conversion Cycle (Average Days)	317.33	296.06	266.19	184.06	188.9
Long Term Solvency
Total Debt/Equity	24.15	20.68	17.34	12.24	5.25
Total Debt / Total Capital	19.45	17.14	14.78	10.91	4.99
LT Debt/Equity	24.07	20.61	17.26	5.48	0.5
Long-Term Debt / Total Capital	19.38	17.07	14.71	4.88	0.48
Total Liabilities / Total Assets	26.43	23.41	20.64	16.5	12.49
EBIT / Interest Expense	25.15	36.93	30.52	20	33.71
EBITDA / Interest Expense	27.42	39.81	32.26	20.99	35.58
(EBITDA - Capex) / Interest Expense	24.9	33.31	27.97	17.11	29.83
Total Debt / EBITDA	1.27	1.11	0.8	0.59	0.22
Net Debt / EBITDA	-3.36	-3.73	-3.18	-3.35	-2.89
Total Debt / (EBITDA - Capex)	1.4	1.32	0.92	0.72	0.26
Net Debt / (EBITDA - Capex)	-3.7	-4.46	-3.67	-4.11	-3.44
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	2.38	13.63	14.88	20.2	23.63
Gross Profit, 1 Yr. Growth %	3.31	13.66	14.18	15.99	24.04
EBITDA, 1 Yr. Growth %	-586.64	13.35	41.19	19.12	22.56
EBITA, 1 Yr. Growth %	-433.26	14.44	43.97	19.94	21.99
EBIT, 1 Yr. Growth %	-432.77	14.46	43.98	19.92	21.95
Earnings From Cont. Operations, 1 Yr. Growth %	-592.63	-7.58	52.86	35.4	21.35
Net Income, 1 Yr. Growth %	-592.63	-7.58	52.86	35.4	21.35
Normalized Net Income, 1 Yr. Growth %	-434.96	11.79	36.81	36.06	26.86
Diluted EPS Before Extra, 1 Yr. Growth %	-582.85	-12.82	49.11	32.07	24.38
Accounts Receivable, 1 Yr. Growth %	3.96	26.24	10.92	26.54	0.14
Inventory, 1 Yr. Growth %	-7.39	8.44	8.74	9.61	41.23
Net Property, Plant and Equip., 1 Yr. Growth %	-0.93	6.74	10.32	21.35	16.93
Total Assets, 1 Yr. Growth %	17.93	12.01	16.94	18.57	2.75
Tangible Book Value, 1 Yr. Growth %	23.45	20.92	21.41	23.53	7.86
Common Equity, 1 Yr. Growth %	22.11	16.6	21.16	24.77	7.67
Cash From Operations, 1 Yr. Growth %	-465.78	-20.84	34.15	21.87	35.7
Capital Expenditures, 1 Yr. Growth %	-29.15	103.71	14.9	65.99	6.99
Levered Free Cash Flow, 1 Yr. Growth %	-399.78	-39.9	23.53	19.95	34.76
Unlevered Free Cash Flow, 1 Yr. Growth %	-450.17	-39.49	24.94	22.38	31.2
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-4.54	7.86	14.25	17.51	21.9
Gross Profit, 2 Yr. CAGR %	-1.9	8.36	13.92	15.08	19.95
EBITDA, 2 Yr. CAGR %	-12.57	136.53	26.87	29.69	20.83
EBITA, 2 Yr. CAGR %	-14.17	96.79	28.76	31.41	20.96
EBIT, 2 Yr. CAGR %	-14.18	96.66	28.77	31.4	20.93
Earnings From Cont. Operations, 2 Yr. CAGR %	-6.53	113.38	18.86	43.87	28.19
Net Income, 2 Yr. CAGR %	-6.53	113.38	18.86	43.87	28.19
Normalized Net Income, 2 Yr. CAGR %	-14.14	107.55	21.54	31.6	28.91
Diluted EPS Before Extra, 2 Yr. CAGR %	-7.16	105.16	14.01	40.33	28.17
Accounts Receivable, 2 Yr. CAGR %	-5.35	14.56	18.33	18.47	12.57
Inventory, 2 Yr. CAGR %	-7.46	0.21	8.59	9.17	24.42
Net Property, Plant and Equip., 2 Yr. CAGR %	2.25	2.83	8.52	15.7	19.12
Total Assets, 2 Yr. CAGR %	16.49	14.93	14.44	17.75	10.38
Tangible Book Value, 2 Yr. CAGR %	11.2	22.18	21.16	22.47	15.43
Common Equity, 2 Yr. CAGR %	10.34	19.33	18.86	22.95	15.91
Cash From Operations, 2 Yr. CAGR %	-1.47	70.16	3.05	27.86	28.6
Capital Expenditures, 2 Yr. CAGR %	-43.29	20.14	52.99	38.1	33.26
Levered Free Cash Flow, 2 Yr. CAGR %	44.32	35.1	-13.35	22.2	27.63
Unlevered Free Cash Flow, 2 Yr. CAGR %	43.96	46.49	-12.58	24.11	27.17
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-4.91	1.17	10.15	16.2	19.52
Gross Profit, 3 Yr. CAGR %	-5.31	3.03	10.27	14.6	17.99
EBITDA, 3 Yr. CAGR %	-15.26	-4.21	99.15	24.23	27.27
EBITA, 3 Yr. CAGR %	-16.7	-5.05	77.32	25.75	28.19
EBIT, 3 Yr. CAGR %	-16.7	-5.05	77.25	25.75	28.17
Earnings From Cont. Operations, 3 Yr. CAGR %	7.2	-6.88	90.93	24.14	35.93
Net Income, 3 Yr. CAGR %	7.2	-6.88	90.93	24.14	35.93
Normalized Net Income, 3 Yr. CAGR %	-16.51	-5.85	80.63	26.2	30
Diluted EPS Before Extra, 3 Yr. CAGR %	7.42	-9.09	84.46	19.74	34.8
Accounts Receivable, 3 Yr. CAGR %	-19.08	4.19	13.33	21.01	12.02
Inventory, 3 Yr. CAGR %	-7.1	-2.44	2.98	8.93	18.96
Net Property, Plant and Equip., 3 Yr. CAGR %	10.27	3.73	5.27	12.63	16.11
Total Assets, 3 Yr. CAGR %	17.03	14.97	15.59	15.8	12.52
Tangible Book Value, 3 Yr. CAGR %	16.33	14.35	21.92	21.95	17.39
Common Equity, 3 Yr. CAGR %	17.33	12.39	19.93	20.8	17.63
Cash From Operations, 3 Yr. CAGR %	16.81	-8.4	57.19	8.98	30.42
Capital Expenditures, 3 Yr. CAGR %	-11.76	-13.15	18.36	57.21	26.84
Levered Free Cash Flow, 3 Yr. CAGR %	2.4	8.24	31.46	-3.18	26.58
Unlevered Free Cash Flow, 3 Yr. CAGR %	2.84	8.29	39.26	-1.96	26.74
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	0.24	1.06	2.33	7.41	14.71
Gross Profit, 5 Yr. CAGR %	-0.31	0.48	1.96	7.69	14.04
EBITDA, 5 Yr. CAGR %	-2.62	-7.55	-0.25	8.13	63.07
EBITA, 5 Yr. CAGR %	-3.32	-8.3	-0.67	8.13	52.17
EBIT, 5 Yr. CAGR %	-3.3	-8.3	-0.66	8.13	52.11
Earnings From Cont. Operations, 5 Yr. CAGR %	-4.6	-7.79	11.72	10.82	62.8
Net Income, 5 Yr. CAGR %	-4.6	-7.79	11.72	10.82	62.8
Normalized Net Income, 5 Yr. CAGR %	-2.92	-8.55	-2.06	9.21	59.03
Diluted EPS Before Extra, 5 Yr. CAGR %	-1.93	-7.98	10.01	8.15	59.46
Accounts Receivable, 5 Yr. CAGR %	-3.98	-1.52	-5.8	9.68	13.03
Inventory, 5 Yr. CAGR %	1.25	-1.27	-1.12	2.05	11.07
Net Property, Plant and Equip., 5 Yr. CAGR %	8.09	9.8	9.56	8.36	10.6
Total Assets, 5 Yr. CAGR %	16.14	17.32	15.99	16.08	13.48
Tangible Book Value, 5 Yr. CAGR %	15.72	16.58	18.24	17.53	19.28
Common Equity, 5 Yr. CAGR %	16.4	16.42	17.94	16.5	18.31
Cash From Operations, 5 Yr. CAGR %	14.57	-1.45	11.1	4.67	45.06
Capital Expenditures, 5 Yr. CAGR %	3.55	26.02	9.97	4.55	24.11
Levered Free Cash Flow, 5 Yr. CAGR %	-8.71	-4.57	-4.04	13.79	30.12
Unlevered Free Cash Flow, 5 Yr. CAGR %	-8.36	-4.12	-3.45	14.53	34.49