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Vertex PharmaceuticalsVRTX

$138.4B market cap
Vertex PharmaceuticalsVRTX
Revenue

Revenue: is the business selling more than it used to?

$12.0B+9% YoYFY 2025

0.00$5.0B$10.0B2011201220132014201520162017201820192020202120222023202420252026$12.6B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Revenue reached $12.0B in 2025, compounding +10% a year since 2022 though the pace has cooled. The trailing twelve months are already running at $12.6B, ahead of the last full year.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Net income

Net income: how much of that revenue becomes profit?

$4.0BFY 2025

0.00$2.0B$4.0B2011201220132014201520162017201820192020202120222023202420252026$4.4B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Net income was $4.0B in 2025, compounding +6% a year over three years. Trailing twelve-month profit stands at $4.4B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Growth rate

How fast is it growing, year by year?

+8.9%revenue growth, FY 2025

-100%0.0%100%201220132014201520162017201820192020202120222023202420258.9%-115%

Off the axis: 2012 earnings -461.9% · 2018 earnings +695.8% - rebounds off a collapsed prior year.

Revenue grew +9% in 2025 against a five-year average of +14%. 2012's swing into loss (-462%) and 2018's +696% earnings rebound off a collapsed base sits off the axis.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Per-share growth

Revenue per share: is your slice growing as fast as the company?

$46.52revenue per share, FY 2025

0.0020.0040.00201120122013201420152016201720182019202020212022202320242025202648.7914.71

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

Revenue per share reached $46.52 in 2025, compounding +11% a year - in line with VRTX's own +10%, so the share count is not distorting your slice. Free cash flow per share stands at $12.38.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Free cash flow

Free cash flow: what is left in real cash after everything?

$3.2BFY 2025

0.00$2.0B$4.0B201120122013201420152016201720182019202020212022$3.9B2023202420252026$3.8B

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

Free cash flow was $3.2B in 2025, compounding -7% a year since 2022. The trailing twelve months stand at $3.8B.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Cash conversion

How much of every sales dollar ends up as free cash?

-100%0.0%201120122013201420152016201720182019202048%20212022202320242025202630%

◌ 2026 = trailing twelve months to the latest filed quarter, not a full fiscal year

27 cents of every sales dollar became free cash in 2025, down 17 points since 2022.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Spending intensity

What does staying competitive cost, per dollar of sales?

0.0%100%20112012201320142015201620172018201920202021202220232024202520263.9%25%5.5%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

The biggest claim on each sales dollar is research and development, at 40% of revenue (stock compensation 6%, capital spending 4%).

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Operating leverage

When sales grow, do profits grow faster?

-1000%0.0%1000%201220132017201820192020202120222023202412%-106%

Operating profit outgrew revenue in only 2 of the last 5 years. Costs are growing roughly in step with the business, so scale isn't yet paying for itself.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Margins

Margins: of every $1 of sales, how much survives each cost layer?

-100%0.0%201120122013201420152016201720182019202020212022202320242025202638%35%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

Operating margin compressed 13 points to 35% since 2022. After everything, 33 cents of each sales dollar reaches net profit. VRTX doesn't tag a gross-profit line in its filings, so the chart starts at operating margin.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Returns on capital

What does it earn on the money it uses?

-50%0.0%50%201120122013201420152016201720182019202020212022202320242025202622%16%19%

2026 = trailing twelve months to the latest filed quarter (2026-06-30), not a full fiscal year

ROE of 22% and ROCE of 19% sit close together, so the returns come from the business itself rather than from borrowing.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Valuation history

What has the market paid for VRTX over time?

32.0xP/E today

0.0050.001002017201820192020202120222023202520268-year median 24.4xP/E 31.98

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

At 32.0x earnings, the market is paying +31% more than VRTX's own 8-year median of 24.4x. Expectations are elevated, so more has to go right to justify the price.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Free cash flow yield

What cash return does the business throw off per dollar of market value?

2.7%FCF yield today

0.0%5.0%20152016201720182019202020212022202320242025202611-year median 2.8%FCF yield 2.7%

2026 = at the latest close (2026-09-04), over the trailing twelve months; earlier years are annual averages

Every dollar of market value currently buys 2.7% of annual free cash flow, right at VRTX's 11-year median of 2.8%.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Debt & cash

Could it handle its debt if things went wrong?

0.00$5.0B$10.0B201220132014201520162017201820192020202120222023202420252026Cash & investments $7.9B

Debt isn't clearly tagged in VRTX's filings, so treat the balance sheet with extra care rather than assuming zero.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Shareholders' equity

Is the company's own capital growing?

0.00$10.0B$20.0B201220132014201520162017201820192020202120222023202420252026$20.2B

The company's own capital grew from $17.6B in 2023 to $20.2B (+15%). The business is building book value rather than consuming it.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Capital returned

How much goes back, and how much leaks out as stock comp?

0.00$1.0B$2.0B20162017201820192020202120222023202420252026

Shareholders received $2.0B in buybacks in 2025. Stock compensation issued $686M of new shares in the same year, offsetting 34% of that.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Dilution rate

How fast is your ownership being diluted - or concentrated?

0.0%2.5%2012201320144.6%201520162017201820192020202120222023202420250.0%

The share count grew 0.0% in 2025. Your slice of the company shrinks by that much each year unless earnings grow faster.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Return on capital employed

Does VRTX earn more on its capital than that capital costs?

-25%0.0%25%20112012201320142015201620172018201920202021202220232024202510% cost of capitalreturn on capital 19%

VRTX earns 19.2% on the capital it employs, comfortably above the 10% most investors treat as the cost of capital. It was 28.0% in 2022, so the trend is down, though the pace has cooled.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Dilution against what it bought

VRTX has issued or retired shares - did shareholders end up better off?

0250500201120122013201420152016201720182019202020212022202320242025124689

VRTX issued +24% more shares from 2011 to 2025, but revenue per share still rose +589%. The dilution bought more growth than it cost existing holders.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

Vertex PharmaceuticalsVRTX
Insider flow

Are the people running it buying or selling?

$20M$10M0.00Feb '26Mar '26Apr '26May '26Jun '26Jul '26

Insiders sold $38M on the open market and bought nothing. Many sales are pre-scheduled diversification rather than a view on the price. A further 13 filings were grants, option exercises or tax withholding, which say nothing either way.

Source: SEC EDGAR (XBRL company facts) · as at 2026-06-30

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