Skip to content
Loading your account…

VRTX VERTEX PHARMACEUTICALS INC / MA

NasdaqHealth carePharmaceutical PreparationsBoston, MAFY ends December 31

New 8-K: Filed an 8-K current report in the last 7 days.Profitable 4/5: Fiscal years with net income above zero, out of the last five reported.FY2025 10-K filed Feb 13, 2026 (SEC EDGAR)

FY2025 at a glance

Fundamentals from SEC filings, not quotes
Revenue
$12BYoYup 8.90%ended Dec 31, 2025
Net income
$3.95B32.9% margin
Diluted EPS
$15.32YoY—
Free cash flow
$3.19B26.6% margin
Cash
$5.08B
Total debt
—
About VERTEX PHARMACEUTICALS INC / MA

Overview

VERTEX PHARMACEUTICALS INC / MA (VRTX) is listed on Nasdaq; the SEC classifies it under "Pharmaceutical Preparations".

For fiscal 2025 (ended Dec 31, 2025) it reported revenue of $12B, up 8.9% from fiscal 2024.

Net income was $3.95B, a net margin of 32.9%.

At fiscal year end it had total assets of $25.64B and stockholders' equity of $18.67B (72.8% of assets).

Fiscal years shown
FY2016–FY2025 (10 years)
Latest 10-K
Feb 13, 2026
Latest filing
10-QNov 3, 2026
FY2016–FY2025 · annual 10-K

Charts

Revenue and net income

Revenue and net income, fiscal years FY2016 to FY2025.
PeriodRevenueNet incomeNet margin
FY2016$1.7B-$112M-6.6%
FY2017$2.49B$263M10.6%
FY2018$3.05B$2.1B68.8%
FY2019$4.16B$1.18B28.3%
FY2020$6.21B$2.71B43.7%
FY2021$7.57B$2.34B30.9%
FY2022$8.93B$3.32B37.2%
FY2023$9.87B$3.62B36.7%
FY2024$11B-$536M-4.9%
FY2025$12B$3.95B32.9%

Gross, operating and net margin

Gross, operating and net margin, fiscal years FY2016 to FY2025.
PeriodGross marginOperating marginNet margin
FY2016—0.6%-6.6%
FY2017—5.0%10.6%
FY201886.6%20.8%68.8%
FY201986.8%28.8%28.3%
FY202088.1%46.0%43.7%
FY202188.1%36.7%30.9%
FY202287.9%48.2%37.2%
FY202387.2%38.8%36.7%
FY202486.1%-2.1%-4.9%
FY202586.2%34.8%32.9%

Diluted EPS

Diluted EPS, fiscal years FY2016 to FY2025.
PeriodEPS (diluted)
FY2016-$0.46
FY2017$1.04
FY2018$8.09
FY2019$4.51
FY2020$10.29
FY2021$9.01
FY2022$12.82
FY2023$13.89
FY2024-$2.08
FY2025$15.32

Free cash flow vs net income

Free cash flow vs net income, fiscal years FY2016 to FY2025.
PeriodFree cash flowNet income
FY2016$180M-$112M
FY2017$746M$263M
FY2018$1.17B$2.1B
FY2019$1.49B$1.18B
FY2020$2.99B$2.71B
FY2021$2.41B$2.34B
FY2022$3.93B$3.32B
FY2023$3.34B$3.62B
FY2024-$790M-$536M
FY2025$3.19B$3.95B

Diluted shares

Diluted shares, fiscal years FY2016 to FY2025.
PeriodDiluted shares (weighted)
FY2016245M
FY2017253M
FY2018259M
FY2019261M
FY2020263M
FY2021260M
FY2022259M
FY2023261M
FY2024258M
FY2025258M

Cash vs total debt

Cash vs total debt, fiscal years FY2016 to FY2025.
PeriodCash & equivalents
FY2016$1.18B
FY2017$1.67B
FY2018$2.65B
FY2019$3.11B
FY2020$5.99B
FY2021$6.8B
FY2022$10.5B
FY2023$10.4B
FY2024$4.57B
FY2025$5.08B

Each bar is one fiscal year as reported in its 10-K; bars below the zero line are negative and gaps are years not reported. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

FY2025 · 5-year trend

Ratios

Profitability

Gross margin
86.2%
Operating margin
34.8%
Net margin
32.9%
FCF margin
26.6%
Return on equity
22.5%
Return on assets
16.4%

Growth

Growth. Compound annual growth: (end ÷ start)^(1 ÷ years) − 1, both ends positive.
Metric1y3y CAGR5y CAGR9y CAGR
Revenueup 8.90%up 10.35%up 14.10%—
EPS (diluted)—up 6.12%up 8.29%—
Free cash flow—down 6.64%up 1.30%up 37.69%
Change in share count
+0.04%

Financial strength

Current ratio
2.9×
Liabilities / assets
27.2%
Interest coverage
314×
Equity / assets
72.8%

Shareholder returns

Buybacks
$2.02B
Stock comp. / revenue
5.7%
Piotroski F-Score · Altman Z''-Score

Quality screens

Piotroski F-Score

6 of 8 checks passed

FY2025 vs FY2024

Partial: 8 of 9 checks could be computed.

  • PassPositive return on assets17.5%
  • PassPositive operating cash flow$3.63B
  • PassReturn on assets improved17.5% vs -2.4%
  • FailOperating cash flow above net income16.1% vs 17.5%
  • —Not computableLong-term debt / assets fell—
  • PassCurrent ratio improved2.9× vs 2.69×
  • FailNo increase in share count258M vs 258M
  • PassGross margin improved86.2% vs 86.1%
  • PassAsset turnover improved0.53× vs 0.48×

Altman Z''-Score

Safe zone (above 2.60)

FY2025

Altman Z''-Score: Components
ComponentsRatioWeightPoints
Working capital / assets0.286×6.561.88
Retained earnings / assets0.529×3.261.72
Operating income / assets0.163×6.721.09
Equity / liabilities2.675×1.052.81
Z''7.50

Screening heuristic, not a recommendation. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Last 10 fiscal years · newest first

Financial statements

USD millions, except per-share figures (USD). Share counts in millions.

Income statement

Income statement. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Revenue12,00111,0209,8698,9317,5746,2064,1633,0482,4891,702
YoY (Revenue)+8.90%+11.66%+10.51%+17.91%+22.06%+49.07%+36.59%—+46.20%—
Gross profit10,3509,4908,6077,8506,6705,4693,6152,638——
Research & development————3,0511,8301,7551,4161,3251,048
Selling, general & admin.1,7531,4641,137945840770658558496433
Operating income4,173-2333,8324,3072,7822,8561,1986351239.94
Interest expense13.330.6———58.258.5———
Pretax income4,6432494,3804,2322,7303,1171,395600-15.7-67.4
Income tax690784760910388405218-1,487-10716.7
Net income3,953-5363,6203,3222,3422,7121,1772,097263-112
YoY (Net income)—-114.80%+8.96%+41.84%-13.63%+130.42%-43.88%+695.83%——
EPS (basic)15.46-2.0814.0512.979.0910.444.588.241.06-0.46
EPS (diluted)15.32-2.0813.8912.829.0110.294.518.091.04-0.46
YoY (EPS (diluted))—-114.97%+8.35%+42.29%-12.44%+128.16%-44.25%+677.88%——
Diluted shares (weighted)258258261259260263261259253245

Balance sheet

Balance sheet. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Cash & equivalents5,0854,57010,36910,5046,7955,9883,1092,6501,6651,184
Receivables2,0531,6091,5631,4421,137885634410281201
Inventory1,6871,20573946135328116812411277.6
Current assets11,2019,59614,14413,2359,5618,1334,8233,8432,6491,832
Goodwill1,0881,0881,0881,0881,0021,0021,00250.450.450.4
Intangible assets424826840604400400400———
Total assets25,64322,53322,73018,15113,43311,7528,3186,2463,5462,897
Current liabilities3,8613,5653,5472,7422,1421,8781,3351,120807793
Total liabilities6,9776,1245,1504,2383,3333,0652,2331,8111,5041,559
Retained earnings13,5609,60710,1426,5233,201859-1,853-2,989-5,120-5,374
Stockholders' equity18,66616,41017,58013,91310,1008,6876,0854,4352,0291,157
Shares outstanding254257258257254260259255253248

Cash flow

Cash flow. USD millions, except per-share figures (USD). Share counts in millions.
MetricFY2025Dec 31, 2025FY2024Dec 31, 2024FY2023Dec 31, 2023FY2022Dec 31, 2022FY2021Dec 31, 2021FY2020Dec 31, 2020FY2019Dec 31, 2019FY2018Dec 31, 2018FY2017Dec 31, 2017FY2016Dec 31, 2016
Operating cash flow3,631-4933,5374,1302,6443,2541,5691,270845236
Capital expenditures43829820020523526075.595.599.456.6
Free cash flow3,194-7903,3373,9252,4092,9941,4941,175746180
YoY (Free cash flow)—-123.68%-14.99%+62.97%-19.55%+100.40%+27.16%+57.58%+315.24%—
Depreciation & amortization21020718114812611010772.461.461.4
Stock-based compensation686699581491441429360325291238
Share repurchases2,0171,17742801,425539192350——
Key financials (annual, 10-K)

Values as reported in each fiscal year's Form 10-K (XBRL data on SEC EDGAR); growth and ratios are computed from those values. Revenue is the total revenue figure the company tagged (omitted when the only figure tagged is evidently partial, e.g. below net income); growth is only shown between consecutive ~12-month fiscal years reported with the same revenue measure. Per-share figures and share counts are as reported and not adjusted for later stock splits. — = not reported.

FY2025 · per diluted weighted share

Per share and valuation context

EPS (diluted)
$15.32
Revenue per share
$46.52
FCF per share
$12.38
Book value per share
$72.35
Tangible book per share
$66.49
Cash per share
$19.71
Public floatas of Jun 30, 2025
$113B

Price ratios need a live quote. This page shows no stock prices. Per-share figures are as reported, not adjusted for stock splits; comparisons across a likely split are left blank.

Price ratio calculator

Type a share price to compute ratios from the latest 10-K figures. Nothing is stored or sent. (FY2025)

Market capPrice × diluted weighted shares
—
P/EPrice ÷ diluted EPS
—
P/BPrice ÷ book value per share
—
P/SPrice ÷ revenue per share
—
P/FCFPrice ÷ FCF per share
—
Dividend yieldDividends per share ÷ price
—
SEC EDGAR

Filing timeline

  1. 10-QNew
    Quarterly report· Sep 30, 2026(SEC EDGAR)
  2. 8-KNew
    Current report· Nov 2, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  3. 8-K
    Current report· Oct 20, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  4. 8-K
    Current report· Aug 27, 2026(SEC EDGAR)
    • 5.02Officer or director changes
  5. 10-Q
    Quarterly report· Jun 30, 2026(SEC EDGAR)
  6. 8-K
    Current report· Aug 3, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
  7. 8-K
    Current report· Jul 6, 2026(SEC EDGAR)
    • 1.01Material agreement
    • 7.01Regulation FD disclosure
    • 8.01Other events
    • 9.01Financial statements and exhibits
  8. 8-K
    Current report· May 13, 2026(SEC EDGAR)
    • 5.02Officer or director changes
    • 5.07Shareholder vote results
  9. 10-Q
    Quarterly report· Mar 31, 2026(SEC EDGAR)
  10. 8-K
    Current report· May 4, 2026(SEC EDGAR)
    • 2.02Results of operations
    • 9.01Financial statements and exhibits
All filings on SEC EDGAR
SIC 2834 · Pharmaceutical Preparations

Peers (same SIC code)

Peers (same SIC code)
TickerRevenue (FY)YoYNet marginROEF-Score5y revenue
JNJJOHNSON & JOHNSON$94.2B—28.5%———
LLYELI LILLY & Co$65.2B—31.7%———
MRKMerck & Co., Inc.$65B—28.1%———
ABBVAbbVie Inc.$61.2B—6.9%———
ABTABBOTT LABORATORIES$44.3Bup 5.67%14.7%13.1%6/9
VRTXVERTEX PHARMACEUTICALS INC / MA (This company)$12Bup 8.90%32.9%22.5%—
NVSNOVARTIS AG——————
AZNASTRAZENECA PLC——————
NVONOVO NORDISK A S——————
Peer median$65Bup 5.67%28.1%13.1%6/9—

Companies with the same 4-digit SIC code, ordered by latest revenue. The median excludes this company. — = not reported or not computable.

Frequently asked questions

What does VERTEX PHARMACEUTICALS INC / MA do?

The SEC classifies VERTEX PHARMACEUTICALS INC / MA under Standard Industrial Classification (SIC) code 2834, "Pharmaceutical Preparations". It is headquartered in Boston, MA. It is incorporated in MA. In fiscal 2025 it reported revenue of $12B and net income of $3.95B in its annual 10-K report.

What was VERTEX PHARMACEUTICALS INC / MA's revenue in 2025?

VERTEX PHARMACEUTICALS INC / MA reported revenue of $12B for fiscal 2025, which ended Dec 31, 2025, up 8.9% from $11.02B in fiscal 2024, according to its annual 10-K report filed with the SEC on Feb 13, 2026.

What was VERTEX PHARMACEUTICALS INC / MA's net income in 2025?

VERTEX PHARMACEUTICALS INC / MA reported net income of $3.95B for fiscal 2025, a net margin of 32.9% of revenue.

Where is VERTEX PHARMACEUTICALS INC / MA listed?

According to the SEC, VERTEX PHARMACEUTICALS INC / MA's ticker VRTX is listed on Nasdaq.

When does VERTEX PHARMACEUTICALS INC / MA's fiscal year end?

According to the SEC, VERTEX PHARMACEUTICALS INC / MA's fiscal year ends on December 31; its latest reported fiscal year (2025) ended Dec 31, 2025.

Source: SEC EDGAR · Last updated:

Ver en español

Not investment advice: This page shows financial data that companies reported to the US Securities and Exchange Commission, for information only. It is not investment advice or a recommendation to buy or sell any security, and it shows no stock prices. Data may be incomplete, restated or out of date — check the original filings on SEC EDGAR before making decisions.