UTHR
$541.70-5.19%
as of close, Oct 2, 2026
☾ AH $541.70 -5.19%
United Therapeutics CorporationStock · Health CareRussell 1000 0.03%US Stock Market 0.03%Russell 3000 0.03%MSCI World 0.03%MSCI ACWI 0.02%
UTHR financial statements
The full income statement, balance sheet, and cash-flow statement for United Therapeutics Corporation (UTHR), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.
Shares outstanding (point-in-time)
2024-06 44.5M2024-09 44.6M2024-12 44.9M2025-03 45.1M2025-06 45.2M2025-09 43.1M2025-12 43.8M2026-03 42.4M2026-06 42.9M-3.6% over 8 periods
SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.
As-reported fiscal years.
| Line item | Trend | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Income Statement | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Revenue | 3.18B+10.6% | 2.88B+23.6% | 2.33B+20.2% | 1.94B+14.9% | 1.69B+13.6% | |
| 2.80B+9.0% | 2.57B+24.0% | 2.07B+16.0% | 1.78B+14.2% | 1.56B+13.7% | ||
| Cost of revenue | 384M+24.1% | 310M+20.3% | 258M+69.9% | 152M+23.8% | 123M+13.3% | |
| Research & development | 550M+14.3% | 481M+17.9% | 408M+26.4% | 323M-40.2% | 540M+51.0% | |
| Selling, general & administrative | 756M+6.5% | 710M+48.8% | 477M-1.0% | 482M+3.2% | 467M | |
| Amortization of intangibles | 900K+0.0% | 900K+200.0% | 300K+200.0% | 100K+0.0% | 100K-50.0% | |
| Operating income | 1.49B+8.4% | 1.38B+16.2% | 1.18B+20.9% | 980M+76.2% | 556M-6.4% | |
| Interest expense | 19.5M-54.5% | 42.9M-27.7% | 59.3M+83.0% | 32.4M+74.2% | 18.6M-20.9% | |
| Interest & investment income | 192M-3.6% | 199M+22.4% | 163M+260.0% | 45.2M+170.7% | 16.7M-41.6% | |
| Other non-operating income | 48.9M+743.1% | 5.80M+141.4% | -14.0M+65.2% | -40.2M-195.3% | 42.2M-14.4% | |
| Pre-tax income | 1.71B+11.4% | 1.54B+20.8% | 1.27B+34.1% | 951M+60.1% | 594M-7.0% | |
| Income tax | 379M+10.3% | 344M+18.8% | 290M+29.6% | 223M+89.1% | 118M-4.8% | |
| 1.33B+11.7% | 1.20B+21.4% | 985M+35.4% | 727M+52.9% | 476M-7.6% | ||
| Net income to common | — | — | — | 727M+52.9% | 476M-7.6% | |
| $27.86+13.1% | $24.64+24.4% | $19.81+32.1% | $15.00+49.1% | $10.06-12.8% | ||
| EPS (basic) | $30.13+14.0% | $26.44+25.7% | $21.04+31.7% | $15.98+50.8% | $10.60-9.0% | |
| Weighted-avg shares (basic) | 44.3M-2.0% | 45.2M-3.4% | 46.8M+2.9% | 45.5M+1.3% | 44.9M+1.6% | |
| Weighted-avg shares (diluted) | 47.9M-1.2% | 48.5M-2.4% | 49.7M+2.5% | 48.5M+2.5% | 47.3M+6.1% | |
| Balance Sheet | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 3.70B-4.4% | 3.87B+9.1% | 3.55B+5.0% | 3.38B+45.5% | 2.32B+7.2% | ||
| Cash & equivalents | 1.56B-8.3% | 1.70B+40.5% | 1.21B+25.6% | 961M+7.4% | 895M+21.1% | |
| Short-term investments | 1.36B-13.2% | 1.57B-12.1% | 1.79B-4.9% | 1.88B+81.2% | 1.04B-5.5% | |
| Accounts receivable | 350M+25.4% | 279M+0.1% | 279M+26.5% | 220M+10.9% | 199M+26.2% | |
| Inventory | 183M+16.0% | 158M+41.2% | 112M+9.6% | 102M+8.7% | 93.8M+8.4% | |
| Other current assets | 249M+46.7% | 170M+2.1% | 166M-24.2% | 219M+118.3% | 100M+13.7% | |
| 7.88B+7.0% | 7.36B+2.7% | 7.17B+18.6% | 6.04B+16.9% | 5.17B+12.0% | ||
| Property, plant & equipment | 1.73B+41.5% | 1.22B+16.9% | 1.05B+21.3% | 862M+10.3% | 781M+6.7% | |
| Goodwill | 32.3M+0.0% | 32.3M-4.2% | 33.7M+20.4% | 28.0M+0.0% | 28.0M+0.0% | |
| Long-term investments | 1.78B+20.4% | 1.48B-22.8% | 1.91B+45.1% | 1.32B-20.2% | 1.65B+43.5% | |
| Deferred tax assets | 358M-22.0% | 458M+16.1% | 395M+20.5% | 328M+25.1% | 262M+9.8% | |
| Other non-current assets | 197M-11.3% | 222M+46.3% | 152M+32.8% | 114M+5.6% | 108M-36.3% | |
| 561M-24.0% | 738M-8.2% | 804M+134.4% | 343M+12.4% | 305M-5.5% | ||
| Accounts payable | 7.10M+18.3% | 6.00M+7.1% | 5.60M+36.6% | 4.10M+7.9% | 3.80M-7.3% | |
| Accrued liabilities | 481M+42.1% | 339M+15.8% | 292M+29.5% | 226M+32.2% | 171M-6.6% | |
| Other current liabilities | 72.6M-22.4% | 93.6M+31.8% | 71.0M+118.5% | 32.5M+14.4% | 28.4M-28.1% | |
| 784M-14.8% | 920M-22.2% | 1.18B-5.3% | 1.25B+3.1% | 1.21B-0.8% | ||
| Other non-current liabilities | 223M+22.7% | 182M+133.8% | 77.8M-25.6% | 105M-0.2% | 105M+8.6% | |
| 7.10B+10.1% | 6.44B+7.7% | 5.98B+24.8% | 4.80B+21.2% | 3.96B+16.6% | ||
| Preferred stock | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock | 800K+0.0% | 800K+14.3% | 700K+0.0% | 700K+0.0% | 700K+0.0% | |
| Additional paid-in capital | 2.80B+3.7% | 2.70B+5.9% | 2.55B+6.7% | 2.39B+6.4% | 2.25B+4.5% | |
| Retained earnings | 8.56B+18.5% | 7.22B+19.8% | 6.03B+19.5% | 5.04B+16.9% | 4.32B+12.4% | |
| Treasury stock | 4.26B+22.6% | 3.47B+34.7% | 2.58B+0.0% | 2.58B+0.0% | 2.58B+0.0% | |
| Accumulated other comprehensive income | 900K+126.5% | -3.40M+73.4% | -12.8M+76.9% | -55.5M-141.3% | -23.0M-62.0% | |
| Total liabilities & equity | 7.88B+7.0% | 7.36B+2.7% | 7.17B+18.6% | 6.04B+16.9% | 5.17B+12.0% | |
| Common shares issued | 76.5M+1.9% | 75.0M+1.8% | 73.7M+1.4% | 72.7M+1.3% | 71.7M+0.8% | |
| Common shares outstanding | 43.6M-2.7% | 44.8M-4.7% | 47.0M+2.2% | 46.0M+2.0% | 45.1M+1.3% | |
| Shares outstanding (cover) | 43.8M-2.4% | 44.9M-4.6% | 47.1M+1.6% | 46.3M+2.6% | 45.1M+1.3% | |
| Cash Flow | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| 1.56B+17.6% | 1.33B+35.7% | 978M+21.9% | 803M+34.2% | 598M-20.8% | ||
| Depreciation & amortization | 85.6M+18.1% | 72.5M+36.3% | 53.2M+3.7% | 51.3M+2.8% | 49.9M+0.0% | |
| Intangible amortization | 900K+0.0% | 900K+200.0% | 300K+200.0% | 100K+0.0% | 100K-50.0% | |
| Share-based compensation | 148M+2.6% | 144M+268.3% | 39.1M-63.4% | 107M-22.9% | 139M-15.4% | |
| Deferred income taxes | 97.7M+252.4% | -64.1M+0.5% | -64.4M-26.8% | -50.8M-170.2% | -18.8M-79.0% | |
| Change in receivables | 70.9M+17625.0% | 400K-99.3% | 58.5M+169.6% | 21.7M-47.5% | 41.3M+588.3% | |
| Change in inventory | 52.6M+12.2% | 46.9M+244.9% | 13.6M+1.5% | 13.4M+78.7% | 7.50M+172.8% | |
| -551M-232.1% | 417M+158.0% | -720M+11.3% | -812M-66.7% | -487M+34.1% | ||
| Capital expenditure | 521M+111.2% | 247M+7.0% | 230M+66.0% | 139M+14.9% | 121M+103.7% | |
| Free cash flow | 1.04B-3.7% | 1.08B+44.5% | 748M+12.6% | 664M+39.0% | 477M-31.4% | |
| Acquisitions | 0.00 | 0.00-100.0% | 89.2M | 0.00 | 0.00 | |
| Sales/maturities of investments | 1.58B+3.1% | 1.54B-28.1% | 2.14B+109.2% | 1.02B-25.4% | 1.37B-10.1% | |
| Proceeds from sale of PP&E | — | — | — | 0.00 | 0.00-100.0% | |
| -1.15B+8.4% | -1.25B-10444.5% | -11.9M-115.8% | 75.4M+68.3% | 44.8M+365.1% | ||
| Long-term debt issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Long-term debt repaid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock issued | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Common stock repurchased | 1.00B+0.0% | 1.00B | 0.00 | 0.00 | 0.00 | |
| Dividends paid | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net change in cash | -140M-128.6% | 490M+98.6% | 247M+271.2% | 66.4M-57.5% | 156M+51933.3% | |
| Interest paid | 13.5M-66.4% | 40.2M-28.2% | 56.0M+92.4% | 29.1M+79.6% | 16.2M-21.7% | |
| Income taxes paid | 313M-21.8% | 401M+20.5% | 333M+20.6% | 276M+79.8% | 153M+65.2% | |
| Valuation Ratios | as ofDec 31 ’25 | as ofDec 31 ’24 | as ofDec 31 ’23 | as ofDec 31 ’22 | as ofDec 31 ’21 | |
| Market cap | 21.4B+34.8% | 15.8B+53.4% | 10.3B-18.5% | 12.7B+30.0% | 9.75B+44.2% | |
| P/E | 16.0×+20.7% | 13.3×+15.5% | 11.5×-35.9% | 17.9×-12.6% | 20.5×+56.1% | |
| P/S | 6.7×+21.8% | 5.5×+17.5% | 4.7×-31.2% | 6.8×+17.8% | 5.8×+26.9% | |
| P/B | 3.0×+22.4% | 2.5×+35.9% | 1.8×-34.9% | 2.8×+12.8% | 2.5×+23.7% | |
| P/FCF | 20.5×+39.9% | 14.7×+8.5% | 13.5×-27.6% | 18.7×-8.6% | 20.4×+110.4% | |
| Earnings yield | 6.3%-17.1% | 7.5%-13.4% | 8.7%+56.0% | 5.6%+14.4% | 4.9%-35.9% | |
| FCF yield | 4.9%-28.5% | 6.8%-7.8% | 7.4%+38.1% | 5.4%+9.4% | 4.9%-52.5% | |
| Source filing | 10-K | 10-K | 10-K | 10-K | 10-K |
About this data
Source: UTHR’s SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn’t file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all UTHR filings on SEC EDGAR → Not investment advice.