United Therapeutics financials
$481.47−0.84%
Close Sep 29, 2026 · split-adjustedRevenue
Net income
Income statement & cash flow
| Fiscal year | FY25 Dec 31 | FY24 Dec 31 | FY23 Dec 31 | FY22 Dec 31 | FY21 Dec 31 | FY20 Dec 31 | FY19 Dec 31 | FY18 Dec 31 | FY17 Dec 31 | FY16 Dec 31 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.18B | $2.88B | $2.33B | $1.94B | $1.69B | $1.48B | $1.45B | $1.63B | $1.73B | $1.60B |
| Gross profit | $2.80B | $2.57B | $2.07B | $1.78B | $1.56B | $1.38B | $1.33B | $1.43B | $1.62B | $1.53B |
| Gross margin | 87.9% | 89.2% | 88.9% | 92.2% | 92.7% | 92.7% | 91.9% | 87.8% | 93.9% | 95.5% |
| Operating income | $1.49B | $1.38B | $1.18B | $978.0M | $553.6M | $584.5M | -$187.6M | $751.9M | $765.3M | $1.06B |
| Net income | $1.33B | $1.20B | $984.8M | $727.3M | $475.8M | $514.8M | -$104.5M | $589.2M | $417.9M | $713.7M |
| Net margin | 41.9% | 41.5% | 42.3% | 37.6% | 28.2% | 34.7% | −7.2% | 36.2% | 24.2% | 44.6% |
| Diluted EPS | $27.86 | $24.64 | $19.81 | $15.00 | $10.06 | $11.54 | $-2.39 | $13.39 | $9.31 | $15.25 |
| EBITDA | $1.58B | $1.45B | $1.24B | $1.03B | $605.8M | $643.5M | -$141.7M | $841.3M | $1.06B | $1.09B |
| Operating cash flow | $1.56B | $1.33B | $978.0M | $802.5M | $598.2M | $755.7M | -$219.1M | $778.4M | $474.2M | $643.6M |
| Free cash flow | $1.04B | $1.08B | $747.6M | $663.7M | $477.4M | $696.4M | -$302.8M | $594.0M | $387.9M | $605.6M |
| Diluted shares | 47.9M | 48.5M | 49.7M | 48.5M | 47.3M | 44.6M | 43.8M | 44.0M | 44.9M | 46.8M |
Balance sheet
| Period end | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 | Dec 31 |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.56B | $1.70B | $1.21B | $961.2M | $894.8M | $738.7M |
| Short-term investments | $1.36B | $1.57B | $1.79B | $1.88B | $1.04B | $1.10B |
| Total debt | $0.00 | $300.0M | $700.0M | $800.0M | $800.0M | $800.0M |
| Total assets | $7.88B | $7.36B | $7.17B | $6.04B | $5.17B | $4.62B |
| Total liabilities | $783.8M | $920.0M | $1.18B | $1.25B | $1.21B | $1.22B |
| Shareholders' equity | $7.10B | $6.44B | $5.98B | $4.80B | $3.96B | $3.40B |
From SEC filings via Massive. Fiscal periods follow the company's own calendar; free cash flow is operating cash flow minus capital expenditure.
Sources: Massive / Polygon daily aggregates (split-adjusted) · SEC filings via Massive · FINRA settlements via Massive · Financial Modeling Prep. Figures are dated where shown; research is informational, not investment advice. Methodology