UNITED THERAPEUTICS Corp (UTHR) Financial Statements
Industry: Pharmaceutical Preparations
In fiscal 2025, UNITED THERAPEUTICS reported revenue of $3.18B, up 10.6% from $2.88B the year before. Net income was $1.33B (a 41.9% net margin), or $27.86 per diluted share. Gross margin was 87.9% and operating margin was 46.9%. Operating activities generated $1.56B of cash, leaving $1.04B of free cash flow. At fiscal year end, UNITED THERAPEUTICS held $7.88B in total assets against $783.8M in total liabilities, including $1.56B of cash and equivalents.
Open the full interactive UNITED THERAPEUTICS financials → Quarterly statements, key ratios, valuation history and price charts.
UNITED THERAPEUTICS Key Stats
| Share Price | $543.40 |
|---|---|
| Market Cap | $24.89B |
| P/E Ratio | 19.5 |
| Revenue YoY Growth | +10.6% |
| 52-Week Range | $415.34 – $596.76 |
| Shares Outstanding | 42.6 million (basic, 2026 Q2) |
UNITED THERAPEUTICS Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $1.48B | $1.69B | $1.94B | $2.33B | $2.88B | $3.18B |
| Cost of Goods Sold | $108.1M | $122.5M | $151.6M | $257.5M | $309.7M | $384.4M |
| Gross Profit | $1.38B | $1.56B | $1.78B | $2.07B | $2.57B | $2.80B |
| Operating Income | $593.6M | $555.9M | $979.7M | $1.18B | $1.38B | $1.49B |
| Pre-Tax Income | $638.9M | $593.9M | $950.6M | $1.27B | $1.54B | $1.71B |
| Income Tax | $124.1M | $118.1M | $223.3M | $289.5M | $343.9M | $379.2M |
| Net Income | $514.8M | $475.8M | $727.3M | $984.8M | $1.20B | $1.33B |
| Diluted EPS | $11.54 | $10.06 | $15.00 | $19.81 | $24.64 | $27.86 |
UNITED THERAPEUTICS Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $799.5M | $790.2M | $781.5M | $783.3M |
| Net Income | $338.7M | $364.3M | $274.9M | $333.0M |
| Diluted EPS | $7.16 | $7.61 | $5.82 | $7.27 |
UNITED THERAPEUTICS Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $738.7M | $894.8M | $961.2M | $1.21B | $1.70B | $1.56B |
| Current Assets | $2.17B | $2.32B | $3.38B | $3.55B | $3.87B | $3.70B |
| Total Assets | $4.62B | $5.17B | $6.04B | $7.17B | $7.36B | $7.88B |
| Current Liabilities | $323.3M | $305.4M | $343.2M | $804.4M | $738.1M | $560.6M |
| Total Long-Term Debt | $800.0M | $800.0M | $800.0M | $700.0M | — | — |
| Total Liabilities | $1.22B | $1.21B | $1.25B | $1.18B | $920.0M | $783.8M |
| Shareholders' Equity | $3.40B | $3.96B | $4.80B | $5.98B | $6.44B | $7.10B |
UNITED THERAPEUTICS Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $755.7M | $598.2M | $802.5M | $978.0M | $1.33B | $1.56B |
| Cash From Investing | -$738.5M | -$486.9M | -$811.5M | -$719.6M | $417.2M | -$551.3M |
| Cash From Financing | -$16.9M | $44.8M | $75.4M | -$11.9M | -$1.25B | -$1.15B |
| Free Cash Flow | $696.4M | $477.4M | $663.7M | $747.6M | $1.08B | $1.04B |
Figures from UNITED THERAPEUTICS's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full UNITED THERAPEUTICS financials page for every line item.
UNITED THERAPEUTICS Company Profile
| Ticker | UTHR |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Silver Spring, Maryland |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Large accelerated filer |
| SEC CIK | 0001082554 |
Frequently Asked Questions
What was UNITED THERAPEUTICS's revenue in fiscal 2025?
UNITED THERAPEUTICS (UTHR) reported revenue of $3.18B for fiscal 2025.
What is UNITED THERAPEUTICS's annual revenue history?
UNITED THERAPEUTICS's annual revenue by fiscal year: 2020: $1.48B; 2021: $1.69B; 2022: $1.94B; 2023: $2.33B; 2024: $2.88B; 2025: $3.18B.
What was UNITED THERAPEUTICS's net income in fiscal 2025?
UNITED THERAPEUTICS reported net income of $1.33B for fiscal 2025.
What was UNITED THERAPEUTICS's earnings per share (EPS) in fiscal 2025?
UNITED THERAPEUTICS's diluted EPS was $27.86 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did UNITED THERAPEUTICS generate in fiscal 2025?
UNITED THERAPEUTICS generated $1.04B of free cash flow in fiscal 2025.
What was UNITED THERAPEUTICS's revenue last quarter?
In its most recent reported quarter (2026 Q2), UNITED THERAPEUTICS reported revenue of $783.3M.
How many shares of UNITED THERAPEUTICS are outstanding?
UNITED THERAPEUTICS reported a weighted average of 42.6 million basic shares outstanding in 2026 Q2.
What is UNITED THERAPEUTICS's market cap?
Based on its latest closing price, UNITED THERAPEUTICS (UTHR) has a market capitalization of about $24.89B.
When does UNITED THERAPEUTICS's fiscal year end?
UNITED THERAPEUTICS's fiscal year end, as registered with the SEC, is December 31.
Where is UNITED THERAPEUTICS headquartered?
UNITED THERAPEUTICS lists its business address in Silver Spring, Maryland in its SEC filings.