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VRTX

Vertex Pharmaceuticals Incorporated

VRTX

Vertex Pharmaceuticals Incorporated • NASDAQ
$433.61 ▲ 0.33% (+1.44)
Market Cap $111.27 B
52w High $519.68
52w Low $362.50
Dividend Yield 0%
P/E 30.49
Volume 583.33K
Outstanding Shares 256.62M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $3.076B ▲ $1.475B ▲ $1.083B ▲ 35.2% ▲ $4.24 ▲ $1.356B ▲
Q2-2025 $2.965B ▲ $1.406B ▼ $1.033B ▲ 34.84% ▲ $4.02 ▲ $1.338B ▲
Q1-2025 $2.77B ▼ $1.777B ▲ $646.3M ▼ 23.33% ▼ $2.52 ▼ $781.8M ▼
Q4-2024 $2.912B ▲ $1.463B ▲ $913M ▼ 31.353% ▼ $3.55 ▼ $1.184B ▼
Q3-2024 $2.772B $1.263B $1.045B 37.714% $4.05 $1.285B

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.287B ▼ $24.862B ▲ $7.543B ▲ $17.319B ▲
Q2-2025 $6.383B ▲ $24.037B ▲ $6.861B ▲ $17.175B ▲
Q1-2025 $6.201B ▲ $22.881B ▲ $6.384B ▲ $16.496B ▲
Q4-2024 $6.116B ▼ $22.533B ▲ $6.124B ▼ $16.41B ▲
Q3-2024 $6.524B $22.24B $6.609B $15.631B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $1.083B ▲ $1.241B ▲ $-117M ▲ $-1.155B ▼ $-34.2M ▼ $1.14B ▲
Q2-2025 $1.033B ▲ $1.073B ▲ $-484.5M ▼ $-349.2M ▲ $296.6M ▲ $927.4M ▲
Q1-2025 $646.3M ▼ $818.9M ▲ $-55.8M ▲ $-680.4M ▼ $113.2M ▲ $778.2M ▲
Q4-2024 $913M ▼ $584.6M ▼ $-821.9M ▼ $-391.3M ▼ $-675.9M ▼ $492M ▼
Q3-2024 $1.045B $1.37B $-348M $-387.5M $657.1M $1.302B

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
ALYFTREK
ALYFTREK
 $0 ▲$50.00M ▲$160.00M ▲$250.00M ▲
Manufactured Product Other
Manufactured Product Other
 $590.00M ▲$170.00M ▼$240.00M ▲$180.00M ▼
TRIKAFTAKAFTRIO
TRIKAFTAKAFTRIO
 $2.72Bn ▲$2.54Bn ▼$2.55Bn ▲$2.65Bn ▲

Five-Year Company Overview

Income Statement

Income Statement Vertex’s sales have climbed steadily over the past five years, and its medicines have carried very strong profit margins. Until recently, this translated into healthy operating and net profits. The most recent year, however, stands out as an exception: despite higher revenue, the company reported an accounting loss at the operating and net income level. That kind of pattern often reflects a big one‑time charge or a surge in spending on research, deals, or milestones rather than a collapse in the core business, but the exact driver isn’t clear from this data alone. Overall, the track record is of a very profitable company, with one recent year of heavier spending or special items that pulled earnings into the red.

Balance Sheet

Balance Sheet The balance sheet looks solid and conservative. Assets have grown meaningfully over time, supported by a large cash position, even though cash has come down from prior peak levels as the company deploys funds. Debt remains relatively low compared with the size of the business and its equity base, and shareholders’ equity has risen strongly over the period with just a small step back in the latest year. In plain terms, Vertex appears to be financially sturdy, with modest leverage and a lot of balance‑sheet flexibility to support ongoing R&D and strategic moves.

Cash Flow

Cash Flow Historically, Vertex has produced strong cash inflows from its operations, comfortably covering its investment needs and leaving room for strategic spending. Capital expenditures have been modest, reflecting a business that is not especially heavy on physical assets. In the most recent year, cash flow from operations and free cash flow turned negative, which aligns with the drop in reported profits and suggests a year of unusual cash outlays or working‑capital movements. Even so, given the cumulative cash built up over prior years, the company appears to retain a significant liquidity cushion, though the shift from strong positive to negative cash generation is an important trend to watch.

Competitive Edge

Competitive Edge Vertex holds a commanding position in cystic fibrosis, with a portfolio of therapies that effectively define standard of care and face high scientific and patent barriers. This franchise gives it a durable edge, strong relationships with physicians and patient groups, and substantial pricing power, although it also concentrates the business in one main area. The approval of the CRISPR‑based gene‑editing therapy Casgevy extends its leadership into a highly specialized new field, giving it valuable first‑mover advantages. Against this, Vertex must manage risks around future competition, pricing pressure, and the need to diversify beyond cystic fibrosis so that its long‑term success is not overly tied to a single disease area.

Innovation and R&D

Innovation and R&D Innovation is the core of Vertex’s strategy. The company has repeatedly shown it can turn deep biology into breakthrough medicines, first in cystic fibrosis and now in gene editing. Its research model is flexible: it uses whatever modality best fits the disease, from small molecules to cell therapy and mRNA, and it leans on partnerships and data‑driven tools like AI to improve discovery. The late‑stage pipeline is unusually broad for a biotech of its size, spanning non‑opioid pain, type 1 diabetes cell therapies, kidney disorders, and next‑generation CF and mRNA treatments. This creates multiple shots on goal but also means heavy and continuing R&D spending, along with the usual clinical and regulatory uncertainties that come with ambitious, high‑risk programs.

Summary

Vertex combines a dominant, high‑margin legacy franchise in cystic fibrosis with an increasingly diversified pipeline in genetic and serious diseases. Over several years it has grown revenue and maintained strong profitability and cash generation, building a robust balance sheet with low debt and substantial cash. The latest year marks a clear shift, with losses and negative cash flow suggesting a period of heavier investment or significant one‑off charges rather than visible deterioration in demand. Strategically, the company’s moat rests on scientific depth, intellectual property, and first‑in‑class or best‑in‑class therapies, now extending into gene editing, pain, diabetes, and kidney disease. The key questions going forward center on how quickly and successfully Vertex can convert this pipeline into durable, diversified revenue streams, and whether the recent financial dip proves to be a temporary consequence of investing for the next phase of growth.

NEWS

November 19, 2025 · 4:00 PM UTC

Vertex to Participate in the Citi's 2025 Global Healthcare Conference on December 3

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November 8, 2025 · 5:15 PM UTC

Vertex Presents Updated Phase 1/2 Data From RUBY-3 Study That Continue to Demonstrate Best-in-Class Potential for Povetacicept in Adults with IgA Nephropathy and Primary Membranous Nephropathy at American Society of Nephrology Kidney Week

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November 3, 2025 · 4:02 PM UTC

Vertex Reports Third Quarter 2025 Financial Results

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October 27, 2025 · 4:00 PM UTC

Vertex to Participate in the UBS Global Healthcare Conference on November 11

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October 23, 2025 · 9:00 AM UTC

Vertex Presents New Data Across Portfolio of Cystic Fibrosis Medicines Including ALYFTREK® at the North American Cystic Fibrosis Conference

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