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Vertex Pharmaceuticals Incorporated

Vertex Pharmaceuticals Incorporated’s revenue for fiscal 2025 (year ended December 2025) was $12.0 billion, up 8.90% from fiscal 2024.

Revenue: +11.9%
EPS: −39.2%
Free cash flow: −52.1%

Quarter to September 2026, against a year earlier

546.95 4.45 +0.82%

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Market cap: $137.5B
P/E: 34.6×
Fwd P/E: 33.2×
Dividend yield: —
F-score: 8/9
Altman Z: 12.06
Beneish M: −2.17
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Vertex Pharmaceuticals Incorporated (VRTX) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Pharmaceuticals	12,001	100.00%
Gross margin		86.24%
Operating margin		34.77%
Pre-tax margin		38.69%

Revenue by product or service $m

Line	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
TRIKAFTA/KAFTRIO	10,239 92.91%	8,945 90.63%	7,687 86.07%	5,697 75.22%	3,864 62.26%	420 10.09%	0 0.00%	0 0.00%	—
Other CF product revenues	782 7.09%	925 9.37%	1,244 13.93%	—	—	—	—	—	—
CASGEVY	10 0.09%	—	—	—	—	—	—	—	—
ALYFTREK	0 0.00%	0 0.00%	—	—	—	—	—	—	—
Other revenues	0 0.00%	0 0.00%	—	1 0.01%	3 0.05%	2 0.05%	9 0.30%	323 12.99%	19 1.09%
Orkambi	—	—	—	772 10.19%	908 14.62%	1,332 32.00%	1,262 41.42%	1,321 53.07%	980 57.55%
Kalydeco	—	—	—	684 9.03%	803 12.94%	991 23.81%	1,008 33.06%	845 33.94%	703 41.33%
Symdeko/Symkevi	—	—	—	420 5.55%	629 10.13%	1,418 34.06%	769 25.22%	0 0.00%	0 0.00%
Incivek	—	—	—	—	—	—	—	—	1 0.04%
Product revenues, net	11,020	9,869	—	7,573	6,203	4,161	3,038	2,165	1,684
Revenue	11,020	9,869	8,931	7,574	6,206	4,163	3,048	2,489	1,702

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Pharmaceuticals	12,001 100.00%	11,020 100.00%	9,869 100.00%	8,931 100.00%
Revenue	12,001	11,020	9,869	8,931

Revenue by region $m

Line	FY2025	FY2024	FY2023	FY2022	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009
United States	7,549 62.90%	6,685 60.66%	6,040 61.20%	5,699 63.82%	4,829 77.82%	3,063 73.57%	2,365 77.60%	1,987 79.83%	1,322 77.65%	763 73.94%	361 62.21%	897 74.01%	1,374 89.95%	1,390 98.51%	143 100.00%	102 100.00%
Europe	3,460 28.83%	3,454 31.34%	3,109 31.50%	2,706 30.29%	1,126 18.15%	886 21.28%	543 17.82%	420 16.89%	320 18.83%	220 21.27%	198 34.05%	280 23.07%	130 8.50%	20 1.44%	0 0.00%	—
Other	992 8.27%	881 8.00%	720 7.29%	526 5.89%	250 4.03%	215 5.15%	139 4.57%	82 3.28%	60 3.52%	49 4.79%	22 3.74%	35 2.93%	24 1.55%	1 0.05%	0 0.00%	—
Total revenues outside of the United States	4,453	4,335	3,829	3,231	1,376	1,100	683	502	380	269	219	315	154	21	—	—
Revenue	12,001	11,020	9,869	8,931	6,206	4,163	3,048	2,489	1,702	1,032	580	1,212	1,527	1,411	143	102

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
JOURNAVX prescriptions written and filled	Q3 FY2026	750.0K	—	—
Patients infused	Q4 FY2025	30.00	—	—

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025
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As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.