VERTEX PHARMACEUTICALS INC / MA

Listed Company

VRTXCIK 0000875320NasdaqLarge AcceleratedPharmaceutical PreparationsMassachusettsFY ends Dec 31

Period

FY 2025

Revenue

$12.00B

Net Income

$3.95B

Total Assets

$25.64B

Equity

$18.67B

Shares Out

254.03M

Op. Cash Flow

$3.63B

Business

VERTEX PHARMACEUTICALS INC / MA is a global biotechnology company that discovers, develops and commercializes transformative medicines for serious diseases in specialty markets. It markets therapies for cystic fibrosis, sickle cell disease, transfusion-dependent beta thalassemia and acute pain and advances programs in renal disease, type 1 diabetes and neuropathic pain. Operations include research and development of small molecules, biologics, mRNA and cell and gene therapies, plus manufacturing and commercialization. Vertex distributes products via specialty pharmacies, authorized treatment centers, distributors and retail pharmacies across the U.S., Europe, the Middle East, Canada, Australia and other markets.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Product revenues, net	12,001	11,020	9,869	8,931	7,574
Cost of sales	1,651	1,531	1,262	1,080	904
Research and development expenses	3,910	3,630	3,163	2,540	1,938
Acquired in-process research and development expenses	133	4,600	527	116	1,100
Selling, general and administrative expenses	1,753	1,464	1,137	945	840
Intangible asset impairment charge	379	0	0	—	—
Change in fair value of contingent consideration	2	−500,000	−52	−58	−3
Total costs and expenses	7,828	11,253	6,037	4,623	4,792
Income (loss) from operations	4,173	−233	3,832	4,307	2,782
Interest income	491	598	615	145	5
Interest expense	−13	−31	−44	−55	—
Other expense, net	−8	−86	−23	−165	5
Income before provision for income taxes	4,643	249	4,380	4,232	2,730
Provision for income taxes	690	784	760	910	388
income (loss)	3,953	−536	3,620	3,322	2,342
Basic (in dollars per share)	15.46	−2.08	14.05	12.97	9.09
Diluted (in dollars per share)	15.32	−2.08	13.89	12.82	9.01
Basic (in shares)	256	258	258	256	258
Diluted (in shares)	258	258	261	259	260

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	5,085	4,570	10,369	10,504	6,795
Marketable securities	1,523	1,546	849	275	730
Accounts receivable, net	2,053	1,609	1,563	1,442	1,137
Inventories	1,687	1,205	739	461	353
Prepaid expenses and other current assets	853	666	624	554	546
Total current assets	11,201	9,596	14,144	13,235	9,561
Property and equipment, net	1,520	1,228	1,159	1,108	1,094
Goodwill	1,100	1,100	1,100	1,100	1,000
Other intangible assets, net	424	826	840	604	400
Deferred tax assets	2,898	2,331	1,812	1,247	935
Operating lease assets	1,563	1,357	294	347	330
Long-term marketable securities	5,712	5,108	2,498	112	—
Other assets	1,237	999	895	410	111
Total assets	25,643	22,533	22,730	18,151	13,433
Accounts payable	462	413	365	304	195
Accrued expenses	2,971	2,789	2,655	2,127	1,679
Other current liabilities	428	363	527	312	268
Total current liabilities	3,861	3,565	3,547	2,742	2,142
Long-term operating lease liabilities	1,847	1,544	349	380	377
Other long-term liabilities	1,270	1,015	878	686	303
Total liabilities	6,977	6,124	5,150	4,238	3,333
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued and outstanding	0	0	0	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 253,991,224 and 256,940,382 shares issued and outstanding, respectively	3	3	3	3	3
Additional paid-in capital	5,119	6,672	7,450	7,387	6,881
Accumulated other comprehensive (loss) income	−16	128	−14	800,000	16
Retained earnings	13,560	9,607	10,142	6,523	3,201
Total shareholders equity	18,666	16,410	17,580	13,913	10,100
Total liabilities and shareholders equity	25,643	22,533	22,730	18,151	13,433

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation expense	686	699	581	491	441
Depreciation and amortization expense	210	207	181	148	126
Deferred income taxes	−511	−349	−537	−276	−155
Other non-cash items, net	113	900,000	−43	12	14
Accounts receivable, net	−347	−99	−84	−359	−275
Inventories	−524	−517	−323	−136	−93
Prepaid expenses and other assets	−396	−200	−546	−326	−92
Accounts payable	37	50	49	121	32
Accrued expenses	−117	213	429	543	305
Other liabilities	149	40	209	499	17
Net cash provided by (used in) operating activities	3,631	−493	3,537	4,130	2,644
Purchases of available-for-sale debt securities	−6,397	−7,438	−3,787	−693	−528
Sales and maturities of available-for-sale debt securities	5,897	4,466	839	920	499
Purchases of property and equipment	−438	−298	−200	−205	−235
Proceeds related to equity securities	16	0	95	0	0
Net payments related to finite-lived intangible assets	0	−188	−58	0	—
Acquisition of available-for-sale debt securities from Alpine Immune Sciences, Inc.	0	−258	0	0	—
Other investing activities	−25	−54	−31	−48	—
Net cash used in investing activities	−945	−3,770	−3,142	−321	−341
Issuances of common stock under benefit plans	128	115	135	186	102
Repurchases of common stock	−2,017	−1,177	−428	0	−1,425
Payments in connection with common stock withheld for employee tax obligations	−370	−405	−226	−172	−136
Payments on finance leases	−5	−34	−45	−86	−47
Other financing activities	4	6	2	4	6
Net cash used in financing activities	−2,261	−1,495	−562	−68	−1,478
Effect of changes in exchange rates on cash	91	−43	27	−29	−13
Net increase (decrease) in cash, cash equivalents and restricted cash	516	−5,800	−140	3,712	811
Cash paid for income taxes	1,567	1,082	1,677	1,058	476
Cash paid for interest	12	31	43	52	56
Net payments due to CRISPR Therapeutics AG related to finite-lived intangible assets	0	0	180	0	0

Filings

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