Cash flow Vertex Pharmaceuticals Incorporated

Stocks

VRTX

US92532F1003

Pharmaceuticals

Market Closed - Nasdaq 16:00:00 2026-08-20 EDT			5-day change	1st Jan Change
540.26 ^USD	-2.14%		+4.61%	+19.17%

08-12	Vertex Has Multiple Portfolio Catalysts With Favorable Risk-Reward, RBC Says	MT
08-11	Jefferies Adjusts Price Target on Vertex Pharmaceuticals to $633 From $610, Maintains Buy Rating	MT

7f2132ae627d19bfcbb165a5.V_UkCUJF0TDJsyc8TP8V6w1xcHaFbTP6tjwqkzygpbk.G4ByYBAM532l93hMIZQtk1gFOzjyKniP5nJYoA3txvoQuUp-OAKWff-CZg

Published financial data: VERTEX PHARMACEUTICALS INCORPORATED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	7.57B	8.93B	9.87B	11.02B	11.97B
Other Revenues, Total	1M	-	-	-	30.7M
Total Revenues	7.57B	8.93B	9.87B	11.02B	12B
Cost of Goods Sold, Total	3.96B	3.61B	4.43B	5.16B	5.56B
Gross Profit	3.62B	5.32B	5.44B	5.86B	6.44B
Selling General & Admin Expenses, Total	840M	945M	1.14B	1.46B	1.75B
Other Operating Expenses, Total	840M	945M	1.14B	1.46B	1.75B
Operating Income	2.78B	4.38B	4.31B	4.4B	4.69B
Interest Expense, Total	-61.5M	-54.8M	-44.1M	-30.6M	-13.3M
Interest And Investment Income	4.9M	145M	615M	598M	491M
Net Interest Expenses	-56.6M	89.8M	571M	568M	478M
Currency Exchange Gains (Loss)	-13.9M	-15.1M	-24.6M	-27.3M	-13.7M
Other Non Operating Income (Expenses)	1.7M	-600K	9.3M	-49.3M	17.3M
EBT, Excl. Unusual Items	2.71B	4.45B	4.86B	4.89B	5.17B
Restructuring Charges	-	-	-	-	-
Gain (Loss) On Sale Of Investments	17.1M	-149M	-7.5M	-9.5M	-11.3M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Asset Writedown	-	-13M	-	-	-379M
In Process R&D Expenses	-	-116M	-527M	-4.63B	-133M
Other Unusual Items	3.1M	57.5M	51.6M	500K	-2.1M
EBT, Incl. Unusual Items	2.73B	4.23B	4.38B	248M	4.64B
Income Tax Expense	388M	910M	760M	784M	690M
Earnings From Continuing Operations	2.34B	3.32B	3.62B	-536M	3.95B
Net Income to Company	2.34B	3.32B	3.62B	-536M	3.95B
Minority Interest	-	-	-	-	-
Net Income - (IS)	2.34B	3.32B	3.62B	-536M	3.95B
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	2.34B	3.32B	3.62B	-536M	3.95B
Net Income to Common Excl. Extra Items	2.34B	3.32B	3.62B	-536M	3.95B
Per Share Items
Net EPS - Basic	9.09	12.97	14.05	-2.08	15.46
Basic EPS - Continuing Operations	9.09	12.97	14.05	-2.08	15.46
Basic Weighted Average Shares Outstanding	258M	256M	258M	258M	256M
Net EPS - Diluted	9.01	12.82	13.89	-2.08	15.32
Diluted EPS - Continuing Operations	9.01	12.82	13.89	-2.08	15.32
Diluted Weighted Average Shares Outstanding	260M	259M	260M	258M	258M
Normalized Basic EPS	6.57	10.87	11.79	11.84	12.63
Normalized Diluted EPS	6.52	10.74	11.67	11.84	12.52
American Depositary Receipts Ratio (ADR)	0.03	0.03	0.03	0.03	0.03
Supplemental Items
EBITDA	2.9B	4.53B	4.48B	4.58B	4.87B
EBITA	2.78B	4.38B	4.31B	4.42B	4.71B
EBIT	2.78B	4.38B	4.31B	4.4B	4.69B
EBITDAR	2.94B	4.56B	4.52B	4.72B	5.11B
Total Revenues (As Reported)	7.57B	8.93B	9.87B	-	12B
Effective Tax Rate - (Ratio)	14.22	21.51	17.36	315.53	14.86
Current Domestic Taxes	401M	814M	947M	823M	715M
Current Foreign Taxes	142M	372M	350M	310M	486M
Total Current Taxes	543M	1.19B	1.3B	1.13B	1.2B
Deferred Domestic Taxes	-56.2M	-415M	-592M	-487M	-549M
Deferred Foreign Taxes	-98.4M	139M	55.3M	139M	38.3M
Total Deferred Taxes	-155M	-276M	-536M	-349M	-511M
Normalized Net Income	1.69B	2.78B	3.04B	3.05B	3.23B
Interest on Long-Term Debt	47.4M	43.5M	38.8M	25.2M	5.7M
Supplemental Operating Expense Items
Advertising Expense	-	-	-	-	-
Selling and Marketing Expenses	-	-	-	-	-
Research And Development Expense From Footnotes	3.05B	2.66B	3.69B	8.26B	4.04B
Net Rental Expense, Total	33.5M	32.6M	45.1M	146M	245M
Imputed Operating Lease Interest Expense	17.26M	15.31M	18.63M	27.93M	13.75M
Imputed Operating Lease Depreciation	16.24M	17.29M	26.47M	118M	231M
Stock-Based Comp., COGS (Total)	275M	307M	362M	598M	426M
Stock-Based Comp., SG&A Exp. (Total)	167M	184M	219M	298M	259M
Total Stock-Based Compensation	441M	491M	581M	896M	686M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	6.8B	10.5B	10.37B	4.57B	5.08B
Short Term Investments	730M	274M	849M	1.55B	1.52B
Total Cash And Short Term Investments	7.52B	10.78B	11.22B	6.12B	6.61B
Accounts Receivable, Total	1.14B	1.44B	1.56B	1.61B	2.05B
Other Receivables	-	-	-	-	-
Total Receivables	1.14B	1.44B	1.56B	1.61B	2.05B
Inventory	353M	461M	739M	1.21B	1.69B
Prepaid Expenses	359M	432M	538M	459M	736M
Restricted Cash	5.1M	8M	-	-	-
Other Current Assets, Total	182M	114M	86.1M	206M	117M
Total Current Assets	9.56B	13.23B	14.14B	9.6B	11.2B
Gross Property Plant And Equipment	2.32B	2.48B	2.64B	3.65B	4.29B
Accumulated Depreciation	-896M	-1.03B	-1.19B	-1.06B	-1.2B
Net Property Plant And Equipment	1.42B	1.46B	1.45B	2.58B	3.08B
Long-term Investments	85.8M	98.6M	2.6B	5.17B	5.79B
Goodwill	1B	1.09B	1.09B	1.09B	1.09B
Other Intangibles, Total	400M	604M	840M	826M	424M
Deferred Tax Assets Long-Term	934M	1.25B	1.81B	2.33B	2.9B
Deferred Charges Long-Term	-	-	58.9M	62.6M	66.6M
Other Long-Term Assets, Total	25M	423M	738M	872M	1.09B
Total Assets	13.43B	18.15B	22.73B	22.53B	25.64B
Liabilities
Accounts Payable, Total	195M	304M	365M	413M	462M
Accrued Expenses, Total	1.47B	2B	2.56B	2.63B	2.78B
Short-term Borrowings	-	-	-	-	-
Current Portion of Leases	80.2M	89.4M	83.7M	92.3M	82.8M
Current Income Taxes Payable	211M	123M	99.5M	161M	103M
Unearned Revenue Current, Total	172M	160M	170M	207M	172M
Other Current Liabilities	16.5M	62.5M	273M	63.9M	260M
Total Current Liabilities	2.14B	2.74B	3.55B	3.56B	3.86B
Long-Term Leases	887M	810M	725M	1.66B	1.95B
Unearned Revenue Non Current	-	-	-	-	-
Deferred Tax Liability Non Current	-	-	-	-	-
Other Non Current Liabilities	303M	686M	878M	902M	1.16B
Total Liabilities	3.33B	4.24B	5.15B	6.12B	6.98B
Common Stock, Total	2.5M	2.6M	2.6M	2.6M	2.5M
Additional Paid In Capital	6.88B	7.39B	7.45B	6.67B	5.12B
Retained Earnings	3.2B	6.52B	10.14B	9.61B	13.56B
Comprehensive Income and Other	15.9M	800K	-14.3M	128M	-15.9M
Total Common Equity	10.1B	13.91B	17.58B	16.41B	18.67B
Minority Interest	-	-	-	-	-
Total Equity	10.1B	13.91B	17.58B	16.41B	18.67B
Total Liabilities And Equity	13.43B	18.15B	22.73B	22.53B	25.64B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	255M	257M	258M	257M	254M
ECS Total Common Shares Outstanding	254M	257M	258M	257M	254M
Book Value / Share	39.69	54.13	68.22	63.87	73.49
Tangible Book Value	8.7B	12.22B	15.65B	14.5B	17.15B
Tangible Book Value Per Share	34.18	47.55	60.74	56.42	67.54
Total Debt	967M	900M	808M	1.75B	2.04B
Net Debt	-6.56B	-9.88B	-12.91B	-9.47B	-10.28B
Debt Equivalent Oper. Leases	268M	261M	361M	1.17B	1.96B
Minority Interest, Total (Incl. Fin. Div)	-	-	-	-	-
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	42.4M	38.1M	78.7M	252M	260M
Inventories - Work In Process, Total	224M	261M	525M	769M	1.2B
Inventories - Finished Goods, Total	86.7M	162M	135M	185M	230M
Land - (BS)	33.1M	33.1M	33.1M	33.1M	33.1M
Buildings, Total	892M	903M	929M	461M	484M
Machinery, Total	701M	789M	912M	1.06B	1.2B
Full Time Employees	3.9K	4.8K	5.4K	6.1K	6.4K

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	2.34B	3.32B	3.62B	-536M	3.95B
Depreciation & Amortization - CF	126M	148M	168M	162M	158M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	1.7M	20.2M	20.2M
Depreciation & Amortization, Total	126M	148M	170M	182M	179M
Amortization of Deferred Charges, Total - (CF)	-	-	11.8M	25.2M	31.2M
(Gain) Loss From Sale Of Asset	-	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-17.1M	149M	600K	57.7M	-
Asset Writedown & Restructuring Costs	-	-	-	-	379M
Stock-Based Compensation (CF)	441M	491M	581M	698M	686M
Other Operating Activities, Total	-143M	-322M	-580M	-406M	-397M
Change In Accounts Receivable	-275M	-359M	-84.1M	-99.3M	-347M
Change In Inventories	-92.8M	-136M	-323M	-517M	-524M
Change In Accounts Payable	31.9M	121M	48.7M	49.5M	36.8M
Change in Unearned Revenues	-	-	-	-	-
Change in Other Net Operating Assets	230M	715M	92.6M	52.3M	-364M
Cash from Operations	2.64B	4.13B	3.54B	-493M	3.63B
Capital Expenditure	-235M	-205M	-200M	-298M	-438M
Cash Acquisitions	-	-296M	-	-	-
Sale (Purchase) of Intangible assets	-	-	-58M	-188M	-
Investment in Marketable and Equity Securities, Total	-106M	180M	-2.88B	-3.23B	-483M
Other Investing Activities, Total	-	-	-	-54M	-24.7M
Cash from Investing	-341M	-321M	-3.14B	-3.77B	-945M
Short Term Debt Issued, Total	-	-	-	-	-
Long-Term Debt Issued, Total	22.6M	-	1.8M	-	-
Total Debt Issued	22.6M	-	1.8M	-	-
Short Term Debt Repaid, Total	-	-	-	-	-
Long-Term Debt Repaid, Total	-47M	-85.5M	-44.9M	-33.6M	-5.4M
Total Debt Repaid	-47M	-85.5M	-44.9M	-33.6M	-5.4M
Issuance of Common Stock	102M	186M	135M	115M	128M
Repurchase of Common Stock	-1.56B	-172M	-654M	-1.58B	-2.39B
Other Financing Activities, Total	5.7M	3.5M	-	6.2M	3.7M
Cash from Financing	-1.48B	-67.7M	-562M	-1.49B	-2.26B
Foreign Exchange Rate Adjustments	-13.4M	-29.2M	26.9M	-42.6M	90.9M
Net Change in Cash	811M	3.71B	-140M	-5.8B	516M
Supplemental Items
Cash Interest Paid	56.3M	52.3M	43.1M	30.5M	12.4M
Cash Income Tax Paid (Refund)	476M	1.06B	1.68B	1.08B	1.57B
Levered Free Cash Flow	1.71B	3.31B	3.51B	2.8B	2.57B
Unlevered Free Cash Flow	1.74B	3.34B	3.54B	2.82B	2.58B
Change In Net Working Capital	324M	-170M	-341M	546M	806M
Net Debt Issued / Repaid	-24.4M	-85.5M	-43.1M	-33.6M	-5.4M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	13.79	17.33	13.17	12.14	12.16
Return on Total Capital	16.78	21.15	16.22	15.03	15.08
Return On Equity %	24.93	27.67	22.99	-3.15	22.54
Return on Common Equity	24.93	27.67	22.99	-3.15	22.54
Margin Analysis
Gross Profit Margin %	47.78	59.6	55.16	53.17	53.66
SG&A Margin	11.09	10.58	11.52	13.29	14.61
EBITDA Margin %	38.35	50.69	45.36	41.53	40.55
EBITA Margin %	36.69	49.03	43.66	40.06	39.23
EBIT Margin %	36.69	49.03	43.65	39.88	39.06
Income From Continuing Operations Margin %	30.92	37.2	36.68	-4.86	32.94
Net Income Margin %	30.92	37.2	36.68	-4.86	32.94
Net Avail. For Common Margin %	30.92	37.2	36.68	-4.86	32.94
Normalized Net Income Margin	22.36	31.16	30.8	27.71	26.92
Levered Free Cash Flow Margin	22.53	37.03	35.57	25.4	21.44
Unlevered Free Cash Flow Margin	23.04	37.42	35.85	25.58	21.51
Asset Turnover
Asset Turnover	0.6	0.57	0.48	0.49	0.5
Fixed Assets Turnover	5.59	6.2	6.79	5.46	4.24
Receivables Turnover (Average Receivables)	7.49	6.93	6.57	6.95	6.54
Inventory Turnover (Average Inventory)	12.48	8.87	7.38	5.31	3.85
Short Term Liquidity
Current Ratio	4.46	4.83	3.99	2.69	2.9
Quick Ratio	4.04	4.46	3.6	2.17	2.24
Operating Cash Flow to Current Liabilities	1.23	1.51	1	-0.14	0.94
Days Sales Outstanding (Average Receivables)	48.73	52.7	55.58	52.69	55.83
Days Outstanding Inventory (Average Inventory)	29.25	41.16	49.47	68.94	94.92
Average Days Payable Outstanding	15.86	24.51	25.95	25.3	26.42
Cash Conversion Cycle (Average Days)	62.11	69.36	79.09	96.33	124.33
Long Term Solvency
Total Debt/Equity	9.58	6.47	4.6	10.66	10.91
Total Debt / Total Capital	8.74	6.07	4.4	9.63	9.83
LT Debt/Equity	8.78	5.82	4.12	10.1	10.46
Long-Term Debt / Total Capital	8.02	5.47	3.94	9.13	9.43
Total Liabilities / Total Assets	24.81	23.35	22.66	27.18	27.21
EBIT / Interest Expense	45.19	79.9	97.68	143.63	352.44
EBITDA / Interest Expense	47.77	83.2	102.54	154.34	384.26
(EBITDA - Capex) / Interest Expense	43.95	79.46	98	144.61	351.35
Total Debt / EBITDA	0.33	0.2	0.18	0.37	0.4
Net Debt / EBITDA	-2.23	-2.17	-2.85	-2.01	-2.01
Total Debt / (EBITDA - Capex)	0.36	0.21	0.19	0.4	0.44
Net Debt / (EBITDA - Capex)	-2.43	-2.27	-2.99	-2.14	-2.2
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	22.06	17.91	10.51	11.66	8.9
Gross Profit, 1 Yr. Growth %	-0.57	12.48	2.27	7.63	9.92
EBITDA, 1 Yr. Growth %	-2.49	12.66	-1.1	2.23	6.31
EBITA, 1 Yr. Growth %	-3.15	12.49	-1.58	2.46	6.62
EBIT, 1 Yr. Growth %	-3.15	12.49	-1.62	2.03	6.65
Earnings From Cont. Operations, 1 Yr. Growth %	-13.63	41.84	8.96	-114.8	-838.09
Net Income, 1 Yr. Growth %	-13.63	41.84	8.96	-114.8	-838.09
Normalized Net Income, 1 Yr. Growth %	-3.83	16.45	9.22	0.48	5.79
Diluted EPS Before Extra, 1 Yr. Growth %	-12.44	42.29	8.35	-114.97	-836.54
Accounts Receivable, 1 Yr. Growth %	28.39	26.86	8.4	2.94	27.55
Inventory, 1 Yr. Growth %	25.75	30.44	60.4	63.16	39.94
Net Property, Plant and Equip., 1 Yr. Growth %	10.93	2.2	-0.2	77.89	19.28
Total Assets, 1 Yr. Growth %	14.3	35.13	25.23	-0.87	13.8
Tangible Book Value, 1 Yr. Growth %	19.4	40.51	28.08	-7.39	18.34
Common Equity, 1 Yr. Growth %	16.27	37.75	26.36	-6.66	13.75
Cash From Operations, 1 Yr. Growth %	-18.75	56.23	-14.35	-113.93	-837.19
Capital Expenditures, 1 Yr. Growth %	-9.55	-12.89	-2.1	48.55	46.99
Levered Free Cash Flow, 1 Yr. Growth %	-19.37	37.68	6.13	-20.24	-8.09
Unlevered Free Cash Flow, 1 Yr. Growth %	-18.94	36.92	5.86	-20.32	-8.42
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	34.89	19.96	14.15	11.08	10.27
Gross Profit, 2 Yr. CAGR %	39.47	17.98	7.26	4.92	8.77
EBITDA, 2 Yr. CAGR %	48.97	19.62	5.56	0.55	4.25
EBITA, 2 Yr. CAGR %	52.05	19.74	5.22	0.42	4.52
EBIT, 2 Yr. CAGR %	52.05	19.74	5.2	0.19	4.32
Earnings From Cont. Operations, 2 Yr. CAGR %	41.08	10.68	24.32	-59.85	4.51
Net Income, 2 Yr. CAGR %	41.08	10.68	24.32	-59.85	4.51
Normalized Net Income, 2 Yr. CAGR %	50.17	21.77	12.78	4.75	3.1
Diluted EPS Before Extra, 2 Yr. CAGR %	41.34	11.62	24.16	-59.72	5.02
Accounts Receivable, 2 Yr. CAGR %	33.96	27.63	17.27	5.64	14.59
Inventory, 2 Yr. CAGR %	45.19	28.07	44.65	61.77	51.1
Net Property, Plant and Equip., 2 Yr. CAGR %	30.74	6.48	1	33.24	45.67
Total Assets, 2 Yr. CAGR %	27.07	24.28	30.08	11.42	6.21
Tangible Book Value, 2 Yr. CAGR %	36.28	29.52	34.15	8.91	4.69
Common Equity, 2 Yr. CAGR %	28.83	26.55	31.93	8.6	3.04
Cash From Operations, 2 Yr. CAGR %	29.79	12.67	15.68	-65.46	1.32
Capital Expenditures, 2 Yr. CAGR %	76.54	-11.24	-7.65	20.6	47.77
Levered Free Cash Flow, 2 Yr. CAGR %	34.98	21.74	20.88	-8	-14.38
Unlevered Free Cash Flow, 2 Yr. CAGR %	33.91	21.38	20.39	-8.16	-14.58
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	35.46	28.97	16.72	13.31	10.35
Gross Profit, 3 Yr. CAGR %	43.62	41.96	12.49	7.38	6.56
EBITDA, 3 Yr. CAGR %	58	51.23	12.27	4.44	2.44
EBITA, 3 Yr. CAGR %	61.16	53.86	12.16	4.29	2.45
EBIT, 3 Yr. CAGR %	61.16	53.86	12.15	4.13	2.3
Earnings From Cont. Operations, 3 Yr. CAGR %	3.92	41.33	10.1	-38.85	5.97
Net Income, 3 Yr. CAGR %	3.76	41.33	10.1	-38.85	5.97
Normalized Net Income, 3 Yr. CAGR %	61.6	54.74	17.43	8.52	5.1
Diluted EPS Before Extra, 3 Yr. CAGR %	3.66	41.66	10.52	-38.66	6.12
Accounts Receivable, 3 Yr. CAGR %	40.52	31.55	20.87	12.29	12.49
Inventory, 3 Yr. CAGR %	41.6	40.1	38.05	50.57	54.14
Net Property, Plant and Equip., 3 Yr. CAGR %	20.6	20.44	4.2	21.97	28.42
Total Assets, 3 Yr. CAGR %	29.08	29.7	24.59	18.82	12.21
Tangible Book Value, 3 Yr. CAGR %	25.65	37.68	29.04	18.56	11.96
Common Equity, 3 Yr. CAGR %	31.56	31.74	26.49	17.56	10.29
Cash From Operations, 3 Yr. CAGR %	27.67	38.06	2.83	-42.88	-4.2
Capital Expenditures, 3 Yr. CAGR %	35.03	39.5	-8.29	8.2	28.82
Levered Free Cash Flow, 3 Yr. CAGR %	24.35	52.29	16.3	5.24	-8.03
Unlevered Free Cash Flow, 3 Yr. CAGR %	23.22	50.87	15.97	4.92	-8.24
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	34.79	29.12	26.49	21.5	14.1
Gross Profit, 5 Yr. CAGR %	52.14	43.04	34.83	25.79	10.99
EBITDA, 5 Yr. CAGR %	109.14	58.38	43.48	28.45	8.99
EBITA, 5 Yr. CAGR %	201.27	61.97	45.36	29.72	9.04
EBIT, 5 Yr. CAGR %	201.27	61.97	45.35	29.6	8.95
Earnings From Cont. Operations, 5 Yr. CAGR %	94.55	105.05	11.64	-14.57	7.83
Net Income, 5 Yr. CAGR %	83.67	66.01	11.54	-14.57	7.83
Normalized Net Income, 5 Yr. CAGR %	89.49	48.69	49.92	32.38	11.47
Diluted EPS Before Extra, 5 Yr. CAGR %	81.3	65.28	11.42	-14.34	8.29
Accounts Receivable, 5 Yr. CAGR %	41.51	38.66	30.71	20.5	18.32
Inventory, 5 Yr. CAGR %	35.4	32.73	42.81	48.4	43.13
Net Property, Plant and Equip., 5 Yr. CAGR %	15.32	13.02	12.34	25.41	19.14
Total Assets, 5 Yr. CAGR %	35.91	38.62	29.48	22.06	16.89
Tangible Book Value, 5 Yr. CAGR %	60.3	44.36	28.98	25.35	18.68
Common Equity, 5 Yr. CAGR %	54.25	46.98	31.71	21.94	16.53
Cash From Operations, 5 Yr. CAGR %	62.11	37.35	22.73	-20.68	2.22
Capital Expenditures, 5 Yr. CAGR %	32.96	15.54	15.99	31.61	10.99
Levered Free Cash Flow, 5 Yr. CAGR %	50.22	49.31	31.66	24.48	2.89
Unlevered Free Cash Flow, 5 Yr. CAGR %	44.82	46.87	30.56	23.7	2.62