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NASDAQ NMS - GLOBAL MARKET · Biotechnology · CIK 0000875320
$524.52
+1.92% · delayed ~15 min
Last price from Oct 21, 2026
$133.22B market value
From VERTEX PHARMACEUTICALS INC / MA's FY2025 10-K, filed Feb 13, 2026 · read the filing
VERTEX PHARMACEUTICALS / MA develops and makes medicines. It took in $12.00B last year, which makes it a large company. Of every dollar it sells, about 33 cents is left as profit.
The financial picture is led by profitability and debt, with growth worth watching.
A conclusion from the filings, not a recommendation. Detailed figures and supporting evidence appear in their dedicated sections below.
Financial health
Strong finances across the board.
From VERTEX PHARMACEUTICALS INC / MA's FY2025 annual filing · share price scored separately
Largest year-over-year changes in FY2025
Operating income
-$232.9M → $4.17B
Profit
-$535.6M → $3.95B
Operating margin
-2.1% → 34.8%
Profit margin
-4.9% → 32.9%
Measured against FY2024, from the 10-K filed Feb 13, 2026
Improved: turned positive
-$232.9M to $4.17BCritical
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: turned positive
-$535.6M to $3.95BCritical
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
How the latest move compares (quote delayed ~15 min), and what was published around it
VRTX rose 1.92% on the latest quote. The average Health Care company tracked here moved +1.61%, and the S&P 500 −1.04%. That is in line with its sector and 3.0 points above the market.
Expectations
Not from the filings — what other people are betting on, and what the price already assumes.
The growth rate someone buying today is paying for, against what the company has delivered
At today's price, the market is paying for free cash flow to grow by about 15% a year for the next 10 years. Over the last 9 years it grew by about 38% a year.
The essentials
Each answered from the filings, with the numbers behind it.
Yes. It keeps about 33 cents of every dollar of sales as profit, earning $3.95B last year.
Slowly. Sales grew 8.9% last year.
It does not appear so. For every $1 it owes, it owns $3.68 in assets.
Core operating and valuation reference metrics
Income
This company pays no dividend. It keeps its profits and reinvests them in the business instead, so any return would have to come from the share price.
Figures from the FY2025 annual filing
Last year it earned $3.95B and generated $3.63B of cash from operations.
Reported annual figures
As reported to the SEC, in USD. Hover or show sources to see where each figure came from.
| Income statement | FY202510-K · Feb 13, 2026Filing for FY2025 | FY202410-K · Feb 13, 2025Filing for FY2024 | FY202310-K · Feb 13, 2025Filing for FY2023 | FY202210-K · Feb 13, 2025Filing for FY2022 | FY202110-K · Feb 9, 2022Filing for FY2021 | ChangeFY2025 vs FY2024 |
|---|---|---|---|---|---|---|
| RevenueWhat is this? | $12.00B | $11.02B | $9.87B | $8.93B | $7.57B | +8.9% |
| Cost of revenue | $1.65B | $1.53B | $1.26B | $1.08B | $904.2M | +7.9% |
| Gross profit | $10.35B† | $9.49B† | $8.61B† | $7.85B† | $6.67B† | +9.1% |
| Gross marginGross profit ÷ revenueWhat is this? | 86.2% | 86.1% | 87.2% | 87.9% | 88.1% | +0.1 pts |
| Selling, general and administrative | $1.75B | $1.46B | $1.14B | $944.7M | $840.1M | +19.7% |
| Operating income | $4.17B | -$232.9M | $3.83B | $4.31B | $2.78B | n/m |
| Operating marginOperating income ÷ revenueWhat is this? | 34.8% | -2.1% | 38.8% | 48.2% | 36.7% | +36.9 pts |
| Interest expense | $13.3M | $30.6M | $44.1M | $54.8M | — | −56.5% |
| Income before tax | $4.64B | $248.5M | $4.38B | $4.23B | $2.73B | +1768.5% |
| Net income | $3.95B | -$535.6M | $3.62B | $3.32B | $2.34B | n/m |
| Net marginNet income ÷ revenueWhat is this? | 32.9% | -4.9% | 36.7% | 37.2% | 30.9% | +37.8 pts |
| Earnings per shareNet income ÷ shares outstanding at the period end — close to, but not the same as, the reported EPSWhat is this? | $15.56 | $-2.08 | $14.05 | $12.93 | $9.20 | n/m |
† calculated from other reported figures, such as total liabilities as assets minus equity.
This company's latest filing beside its peers' stored scores
| Company | Health | F-Score | Revenue growth | Profit margin | P/E | Debt to equity |
|---|---|---|---|---|---|---|
| VRTXVERTEX PHARMACEUTICALS INC / MA · this page | 8.7/10 |
Insider activity, ownership stakes and what's coming — straight from EDGAR, before any article is written about it
Officers, directors and major shareholders must report within two business days of a trade.
Was granted or awarded shares — 795 shares at $503.47 ($400.3K)
Holds 795 shares after this filing.
Was granted or awarded shares — 8,682 shares
Holds 8,682 shares after this filing.
20 recent filings, newest first. Each is labelled from its form and item numbers, not from its wording.
Had a director or senior officer leave or join
Read the filingHad a director or senior officer leave or join
Read the filingWrite down why you are following VERTEX PHARMACEUTICALS INC / MA, what has to go right and what would change your mind, then see each new annual report measured against it. Sign in to start one.
Go deeper
Every figure above traces back to a filing in the timeline, each linked to the document itself.
Coverage from the last 30 days
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Why Should You Think About Vertex Differently Now?
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AbbVie vs. Vertex Pharmaceuticals: Which Healthcare Stock Is a Better Buy in 2026?
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Vertex Pharmaceuticals (VRTX) Outpaces Stock Market Gains: What You Should Know
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Every company's figures are checked for internal consistency: the balance sheet adding up, figures sharing one currency, cash flow and share counts within plausible ranges, and how recent the latest annual report is. Nothing here changes a figure.
Financial figures are from VRTX's 10-K for fiscal year 2025 (period ending 2025-12-31, filed Feb 13, 2026), reported under the US GAAP taxonomy. View the source filing.
3 of 4 scored areas had enough reported figures to judge
The score averages profitability, growth, debt and accounting. Accounting had too few reported figures and is left out of the average rather than counted as a weakness, so a company is never marked down for a figure it did not publish. Cash generation is shown for context and already feeds profitability. Valuation is scored separately, because a share price says nothing about whether the business is sound. 8 of the 9 Piotroski checks could be evaluated. How the score works
Each year scored only from its annual report as it was first filed
| Fiscal year | Health | F-Score | Scored from |
|---|---|---|---|
| FY2025 | 8.7 | 6/8 | 10-K, filed Feb 13, 2026 |
| FY2024 | 3.3 | 3/8 | 10-K, filed Feb 13, 2025 |
| FY2023 | 8.7 | 4/8 | 10-K, filed Feb 15, 2024 |
| FY2022 | 10.0 | 6/8 | 10-K, filed Feb 10, 2023 |
| FY2021 | 10.0 | 6/8 | 10-K, filed Feb 9, 2022 |
| FY2020 | 10.0 | 8/8 | 10-K, filed Feb 9, 2022 |
A later restatement never reaches back into an earlier year, and every year is scored without a share price, so the latest point can differ a little from the headline score, which uses today's price.
Every check behind the three models, and what each one tests
6 of 8 checks passed
Nine yes-or-no tests of whether this year's finances improved on last year's. One could not be evaluated and is excluded from the total rather than counted as a failure.
13.55
In the safe zone
For this model, above 2.99 is safe and below 1.81 is distress.
Distance from bankruptcy, from a model fitted on companies that did and did not go bust. It describes a balance sheet's shape today; it does not forecast a failure.
not reported — This company has not reported enough of the required figures to calculate this score.
This company has not reported enough of the required figures to calculate this score.
Screens eight accounting ratios for the pattern earnings manipulators tend to leave. A flag is a reason to read the filing closely, never evidence of wrongdoing.
Every figure above comes from the FY2025 filing as filed with the SEC.
Improved: +36.9 pts
-2.1% to 34.8%Critical
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Improved: +37.8 pts
-4.9% to 32.9%Critical
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: turned positive
-$790.3M to $3.19BCritical
Why it matters: Cash left after paying for the plant that produced it — the money genuinely available for dividends, buybacks or paying down debt. Harder to flatter than profit.
Improved: turned positive
-$2.08 to $15.56Critical
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Changed: +47.0%
$297.7M to $437.6MCritical
Why it matters: Neither good nor bad on its own. Heavy spending is a company building capacity or a company struggling to stand still, and the two look identical in this figure.
Improved: +8.9%
$11.02B to $12.00BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +9.1%
$9.49B to $10.35BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +11.3%
$4.57B to $5.08BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: -1.1%
256.9M to 254.0MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q2 FY2025, from the 10-Q filed Aug 4, 2026 — read it.
Improved: +23.6%
$4.97B to $6.14BSignificant
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
Improved: +12.5%
$2.96B to $3.33BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +11.2%
$2.56B to $2.84BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +8.3%
$1.15B to $1.25BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +6.5%
$1.03B to $1.10BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −1.4 pts
38.8% to 37.4%Notable
Why it matters: What survives each sale after running the business. A falling operating margin beside a steady gross margin points at overheads — wages, marketing, research — rather than pricing.
Deteriorated: −1.8 pts
34.8% to 33.0%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +7.7%
$4.03 to $4.34Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: -1.1%
256.3M to 253.3MNotable
Why it matters: The company bought back stock, so each remaining holding owns slightly more of it. Worth checking it was not funded by borrowing.
Q2 FY2026 against Q1 FY2026, from the 10-Q filed Aug 4, 2026 — read it. Quarter-to-quarter moves include seasonal swings — a retailer's holiday quarter — which the year-earlier comparison removes.
Improved: +11.6%
$2.99B to $3.33BNotable
Why it matters: Sales are what everything else is built on. A fall can be lost customers, lower prices, or a business the company sold — the filing itself says which.
Improved: +9.7%
$2.59B to $2.84BNotable
Why it matters: What is left of sales after the direct cost of producing them. It normally moves with revenue, so a move out of step with revenue is the part worth noticing.
Improved: +9.6%
$1.14B to $1.25BNotable
Why it matters: Profit from running the business, before interest and tax. Less exposed than profit to one-off financing and tax items, so a clearer read on the business itself.
Improved: +6.6%
$1.03B to $1.10BNotable
Why it matters: Profit swings far more than sales do, and one-off items — a legal settlement, a tax charge, an asset sale — move it without the underlying business changing.
Deteriorated: −1.5 pts
86.8% to 85.3%Notable
Why it matters: What survives each sale before overheads. Falling gross margin usually means the company is discounting or its input costs rose — it is the earliest place pricing pressure shows.
Deteriorated: −1.5 pts
34.5% to 33.0%Notable
Why it matters: What survives to the very end of each sale. Worth reading beside revenue: growing sales on a shrinking margin means the company is buying its growth.
Improved: +7.0%
$4.06 to $4.34Notable
Why it matters: Profit divided by the shares in issue at the period end, so it sits close to but not on the company's own reported figure. It can rise with no growth in profit when the company buys back stock — read it beside the share count.
Improved: +11.8%
$5.49B to $6.14BNotable
Why it matters: A falling cash pile is only a warning if the company is consuming it. Paying down debt, buying back stock and paying a dividend all reduce cash by choice.
1 other measure barely moved. Figures compare the two most recent annual filings — read the latest one. Moves are graded on fixed lines — 5%, 15% and 40% for amounts, and 1, 3 and 8 points for margins — as notable, significant or critical. Nothing here reads the management commentary, which is where a company explains its own numbers.
These coincide with the move in time. None is presented as its cause: a price can move on news that names no company, on the wider market, or on trading that no document records.
Filter by minute, hour, day or week — or compare against peers
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Discounted at 8%–10% a year, with growth settling to 2.5% after 10 years. Those rates are ordinary choices, not measurements: across that range the assumed growth works out between 12% and 17%. This describes what the price implies — it is not a forecast, and not a view on whether the price is right.
Opinions from 39 analysts covering this company, as of . Their views, not this site's.
Of 39 analysts publishing on this company, 12 say strong buy, 20 say buy, 6 say hold and 1 say strong sell. Analysts are paid to publish a view and are wrong often; the split above says how much they agree with each other, which is the part a single headline rating hides.
Published by Finnhub. Analyst coverage skews towards larger companies and towards optimism — sell ratings are rare across the whole market, so a company with none is ordinary rather than endorsed.
Measured on and published about a week later — this is a fortnightly snapshot, not a live position.
About 1.8% of this company's shares have been borrowed and sold by people expecting to buy them back cheaper. That is a bet the price falls. Those people can be wrong, and when a heavily shorted share rises they have to buy it back, which pushes it up further.
Collected by FINRA from broker-dealers twice a month. It counts positions, not intentions, and some of it is hedging rather than a directional bet against the company.
Nothing in this section is a figure this company reported about itself. These are expectations and positions — what the price implies, what analysts have published, what short sellers are betting, and what large funds held at the last count. WylthIQ reports them; it does not endorse them, does not forecast prices, and takes no view on whether any of them will turn out to be right.
The trailing P/E is 31.4x — a high multiple relative to the current trailing profit.
This company has not reported enough of the required figures to calculate this score.
| 6/8 |
| 8.9% |
| 32.9% |
| 33.70x |
| 0.37x |
| ABBVAbbVie Inc. | 7.0/10 | 8/9 | 8.6% | 6.9% | 119.13x | -41.97x |
|---|
| AMGNAMGEN INC | 8.0/10 | 8/9 | 10.0% | 21.0% | 31.25x | 9.46x |
|---|
| GILDGILEAD SCIENCES, INC. | 9.0/10 | 8/9 | 2.4% | 28.9% | 22.92x | 1.60x |
|---|
| MRNAModerna, Inc. | 6.0/10 | 3/9 | -39.9% | -145.2% | — | 0.43x |
|---|
| REGNREGENERON PHARMACEUTICALS, INC. | 8.7/10 | 6/8 | 1.0% | 31.4% | 19.02x | 0.30x |
|---|
| Median of peers | 8.0/10 | — | 2.4% | 21.0% | 27.09x | 0.43x |
|---|
Peers come from the company's industry classification. A difference describes the companies; it does not rank them.
Was granted or awarded shares — 5,000 shares
Holds 11,624 shares after this filing.
Gifted shares — 6,000 shares
Holds 39,000 shares after this filing.
Notice filed ahead of a planned sale — the sale itself has not necessarily happened yet.
Filed notice to sell 1,210 shares ($662.5K) on or after .
Shares originally obtained via Acquired as a gift.
Filed notice to sell 1,541 shares ($799.8K) on or after .
Shares originally obtained via Restricted Stock Vesting.
Filed notice to sell 1,500 shares ($787.5K) on or after .
Shares originally obtained via Restricted Stock Vesting.
Filed notice to sell 828 shares ($416.2K) on or after .
Shares originally obtained via Restricted Stock Vesting.
Filed notice to sell 596 shares ($287.6K) on or after .
Shares originally obtained via Restricted Stock Vesting.
Estimated from how often this has happened before, not a confirmed date.
Not investment advice, and not a signal to act on by itself — a filing says what happened, not why, and insiders trade for ordinary reasons having nothing to do with where they think the company is headed.
Quarterly report for Q2 FY2026
Revenue +12.5% · Operating margin −1.4 pts · Cash +23.6% — against Q2 FY2025
Published results
Read the filingSigned a material agreement · Made a Regulation FD disclosure · Reported another event
Read the filingHad a director or senior officer leave or join · Held a shareholder vote
Read the filingQuarterly report for Q1 FY2026
Revenue +7.8% · Operating margin +15.4 pts · Operating income +80.6% — against Q1 FY2025
Read the filingPublished results
Read the filingHad a director or senior officer leave or join
Read the filingProxy statement for a shareholder meeting
Read the filingReported another event
Read the filingAnnual report for FY2025
Revenue +8.9% · Operating margin +36.9 pts · Operating income turned positive — against FY2024
Read the filingPublished results
Read the filingQuarterly report for Q3 FY2025
Revenue +11.0% · Operating margin −1.7 pts · Gross profit +11.9% — against Q3 FY2024
Read the filingPublished results
Read the filingQuarterly report for Q2 FY2025
Revenue +12.1% · Operating margin +171.7 pts · Operating income turned positive — against Q2 FY2024
Read the filingHad a director or senior officer leave or join · Published results
Read the filingReported another event
Read the filingHeld a shareholder vote
Read the filingQuarterly report for Q1 FY2025
Operating margin −19.6 pts · Operating income -44.7% · Profit -41.2% — against Q1 FY2024
Read the filingWhat Vertex Pharmaceuticals (VRTX)'s Pancreas Recovery Data Means For Shareholders
Yahoo Finance ·
Primary sources and further research