MARKETS / NASDAQ / UTHR

NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

United Therapeutics Corp. UTHR

18 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$3.2B

▲ 10.6% YoY

Net income

$1.3B

▲ 11.7% YoY

Free cash flow

$1.0B

▼ 3.7% YoY

In brief

What this company does

United Therapeutics Corporation markets and sells commercial therapies in the United States to treat pulmonary arterial hypertension, including Tyvaso DPI, Tyvaso Inhalation Solution, Remodulin, Orenitram, and Adcirca. In the United States, it also markets and sells an oncology product, Unituxin (dinutuximab) Injection, approved by the FDA for the treatment of high-risk neuroblastoma. Its wholly-owned subsidiary, Lung Bioengineering Inc., provides commercial ex vivo lung perfusion services on a fee-for-service basis to transplant centers through dedicated facilities in Silver Spring, Maryland, and Jacksonville, Florida, using the XPS System. As of December 31, 2025, the company had approximately 1,400 employees working across 15 locations worldwide. Martine Rothblatt founded United Therapeutics in 1996 and has served as its Chairperson and Chief Executive Officer since its inception.

Written from the business description in UNITED THERAPEUTICS Corp's annual report to the U.S. Securities and Exchange Commission, filed 25 February 2026. Every sentence was checked against that document before publication.

Growth

USD 3.2B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 3.2 · Net income 1.3

Compound annual growth

Revenue

+18.0%

+16.5%

+8.1%

+11.9%

Net income

+22.4%

EPS, diluted

+22.9%

+19.3%

+8.2%

+20.1%

Returned to shareholders

+8.8%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +16.5% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

42 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 46.9% · Net 41.9%

ROE

FY2025 · ROE 19.7%

Gross margin87.9%

Operating margin46.9%

Net margin41.9%

Return on assets17.5%

EBITDAUSD 1.6B

Each USD of equity produced 20 cents of profit this year.

Cash & shareholders

USD 826.1M

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 1.0

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 826.1

Dividends paid—

Net buybacksUSD 826.1M

Share of profit61.9%

Consecutive raises—

USD 826.1M in buybacks — 62% of the year's profit went back to shareholders.

Total assetsUSD 7.9B

EquityUSD 7.1B

CashUSD 1.6B

Current ratio6.60×

Equity funds 90% of total assets.

The 18-year record

18 fiscal years

Every figure from documents filed with the SEC · USD

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue $B	3.2	2.9	2.3	1.9	1.7	1.5	1.4	1.6	1.7	1.6	1.5	1.3	1.1	0.9	0.7	0.6	0.4	0.3
Operating income $B	1.5	1.4	1.2	1.0	0.6	0.6	−0.2	0.8	0.8	1.1	0.7	0.5	0.3	0.4	0.3	0.2	0.0	−0.1
EBITDA $B	1.6	1.4	1.2	1.0	0.6	0.6	−0.1	0.8	0.8	1.1	0.7	0.6	0.3	0.4	0.3	0.2	0.0	−0.1
Income tax $B	0.4	0.3	0.3	0.2	0.1	0.1	−0.1	0.2	0.4	0.3	0.4	0.2	0.1	0.1	0.1	0.0	−0.0	−0.0
Net income $B	1.3	1.2	1.0	0.7	0.5	0.5	−0.1	0.6	0.4	0.7	0.7	0.3	0.2	0.3	0.2	0.1	0.0	−0.0
Free cash flow $B	1.0	1.1	0.7	0.7	0.5	0.7	−0.3	0.6	0.4	0.6	0.3	0.3	0.4	0.2	0.2	0.2	0.0	−0.2
EPS, diluted $	27.86	24.64	19.81	15.00	10.06	11.54	−2.39	13.39	9.31	15.25	12.72	6.28	3.28	5.71	3.67	1.78	0.35	−1.08
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	19.7	19.2	18.3	16.6	12.9	16.7	−3.8	24.1	21.1	41.5	46.0	27.2	14.9	30.0	23.8	13.8	3.2	−8.9
Shares out B	0.04	0.04	0.05	0.05	0.05	0.04	0.04	0.04	0.04	0.04	0.05	0.05	0.05	0.05	0.05	0.06	0.05	·

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 83 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 7 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityPharmaceutical Preparations

Listed onNASDAQ

Incorporated inDelaware

Fiscal year endsDecember 31

Data on record since2008