MARKETS / NASDAQ / VRTX

NASDAQ · PHARMACEUTICAL PREPARATIONS · LARGE CAP

Vertex Pharmaceuticals Inc. / MA VRTX

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

Revenue

$12.0B

▲ 8.9% YoY

Net income

$4.0B

Free cash flow

$3.2B

In brief

What this company does

The company markets and sells its approved products and advances product candidates through clinical development toward commercialization. The company's marketed cystic fibrosis medicines, including ALYFTREK, TRIKAFTA/KAFTRIO, SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO, reach nearly three quarters of the approximately 97,000 people with cystic fibrosis in the U.S., Europe, Australia, and Canada. Its cystic fibrosis medicines are reimbursed or accessible in more than 60 countries across six continents. JOURNAVX was approved by the U.S. Food and Drug Administration in January 2025 for the treatment of moderate-to-severe acute pain in adults. The company has established its own small molecule manufacturing capabilities in Boston, which it uses for clinical trial and commercial supplies, including certain manufacturing steps for its commercial supply of TRIKAFTA/KAFTRIO. As of December 31, 2025, the company had approximately 6,400 employees.

Written from the business description in VERTEX PHARMACEUTICALS INC / MA's annual report to the U.S. Securities and Exchange Commission, filed 13 February 2026. Every sentence was checked against that document before publication.

Growth

USD 12.0B

Revenue, FY2025 · full 18-year series below

Revenue $B Net income $B

FY2025 · Revenue 12.0 · Net income 4.0

Compound annual growth

Revenue

+10.4%

+14.1%

+27.8%

+34.3%

Net income

+6.0%

+7.8%

EPS, diluted

+6.1%

+8.3%

Returned to shareholders

+44.5%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at +14.1% a year over five years — but profit grew slower: net income at +7.8%, earnings per share at +8.3%.

The share count fell from 0.26B to 0.25B — the buyback concentrates the same profit into fewer slices.

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

33 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 34.8% · Net 32.9%

ROE

FY2025 · ROE 22.5%

Gross margin86.2%

Operating margin34.8%

Net margin32.9%

Return on assets16.4%

EBITDAUSD 4.4B

Each USD of equity produced 23 cents of profit this year.

Cash & shareholders

USD 2.0B

returned in FY2025 · dividends + net buybacks

Free cash flow $B

FY2025 · FCF 3.2

Net buybacks $B Dividends $B

FY2025 · Dividends — · Net buybacks 2.0

Dividends paid—

Net buybacksUSD 2.0B

Share of profit49.6%

Consecutive raises—

USD 2.0B in buybacks — 50% of the year's profit went back to shareholders.

Total assetsUSD 25.6B

EquityUSD 18.7B

CashUSD 5.1B

Current ratio2.90×

Equity funds 73% 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	12.0	11.0	9.9	8.9	7.6	6.2	4.2	3.0	2.5	1.7	1.0	0.6	1.2	1.5	1.4	0.1	0.1	0.2
Operating income $B	4.2	−0.2	3.8	4.3	2.8	2.9	1.2	0.6	0.1	0.0	−0.5	−0.7	−0.6	0.0	0.1	−0.7	−0.6	−0.5
EBITDA $B	4.4	−0.0	4.0	4.5	2.9	3.0	1.3	0.7	0.2	0.1	−0.4	−0.6	−0.6	0.1	0.1	−0.7	−0.6	−0.4
Income tax $B	0.7	0.8	0.8	0.9	0.4	0.4	0.2	−1.5	−0.1	0.0	0.0	0.0	−0.1	−0.0	0.0	0.0	·	·
Net income $B	4.0	−0.5	3.6	3.3	2.3	2.7	1.2	2.1	0.3	−0.1	−0.6	−0.7	−0.4	−0.1	0.0	−0.8	−0.6	−0.5
Free cash flow $B	3.2	−0.8	3.3	3.9	2.4	3.0	1.5	1.2	0.7	0.2	−0.4	−0.6	−0.1	0.2	0.1	−0.7	−0.5	−0.3
EPS, diluted $	15.32	−2.08	13.89	12.82	9.01	10.29	4.51	8.09	1.04	−0.46	−2.31	−3.14	−1.98	−0.50	0.14	−3.77	−3.71	−3.27
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	22.5	−3.2	23.0	27.7	24.9	36.7	22.4	64.9	16.5	−10.7	−55.2	−60.8	−37.8	−12.0	4.6	−149.7	·	·
Shares out B	0.25	0.26	0.26	0.26	0.25	0.26	0.26	0.26	0.25	0.25	0.25	0.24	0.23	0.22	0.21	0.20	0.20	·

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 70 reconciliationsAUDITED

Reconciled in 18 of 19 fiscal years. 9 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityPharmaceutical Preparations

Listed onNASDAQ

Incorporated inMassachusetts

Fiscal year endsDecember 31

Data on record since2008