United Therapeutics Corp
UTHR- Exchange
- Nasdaq
- Industry
- Pharmaceutical Preparations
- SEC CIK
- 0001082554
In the last 90 days, United Therapeutics Corp insiders filed 0 open-market purchases and 73 sales; 889 institutions reported holding it in 13F filings for Q2 2026, worth $22.6B in total; no superinvestor holds it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Nov 5, 2026, 12:10 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 25, 2026 | Feb 26, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 24, 2022 |
| Revenue | $3.18B | $2.88B | $2.33B | $1.94B | $1.69B |
| Cost of revenue | $384.4M | $309.7M | $257.5M | $151.6M | $122.5M |
| Gross profit | $2.80B | $2.57B | $2.07B | $1.78B | $1.56B |
| Research and development | $550.0M | $481.0M | $408.0M | $322.9M | $540.1M |
| Selling, general and administrative | $755.8M | $709.7M | $477.1M | – | – |
| Operating income | $1.49B | $1.38B | $1.18B | $979.7M | $555.9M |
| Interest expense | – | – | $59.3M | $32.4M | $18.6M |
| Income tax | $379.2M | $343.9M | $289.5M | $223.3M | $118.1M |
| Net income | $1.33B | $1.20B | $984.8M | $727.3M | $475.8M |
| EPS, basic | $30.13 | $26.44 | $21.04 | $15.98 | $10.60 |
| EPS, diluted | $27.86 | $24.64 | $19.81 | $15.00 | $10.06 |
| Weighted shares, basic | 44.3M | 45.2M | 46.8M | 45.5M | 44.9M |
| Weighted shares, diluted | 47.9M | 48.5M | 49.7M | 48.5M | 47.3M |
| Margins and growth | |||||
| Gross margin | 87.9% | 89.2% | 88.9% | 92.2% | 92.7% |
| Operating margin | 46.9% | 47.9% | 50.9% | 50.6% | 33.0% |
| Net margin | 41.9% | 41.5% | 42.3% | 37.6% | 28.2% |
| Revenue growth, year over year | +10.6% | +23.6% | +20.2% | +14.9% | +13.6% |
| Net income growth, year over year | +11.7% | +21.4% | +35.4% | +52.9% | −7.6% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 25, 2026 | Feb 26, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 24, 2022 |
| Cash and equivalents | $1.56B | $1.70B | $1.21B | $961.2M | $894.8M |
| Short-term investments | $1.36B | $1.57B | $1.79B | $1.88B | $1.04B |
| Accounts receivable | $350.2M | $279.3M | $278.9M | $220.4M | $198.7M |
| Inventory | $183.1M | $157.9M | $111.8M | $102.0M | $93.8M |
| Total current assets | $3.70B | $3.87B | $3.55B | $3.38B | $2.32B |
| Property, plant and equipment | $1.73B | $1.22B | $1.05B | $861.5M | $780.9M |
| Goodwill | $32.3M | $32.3M | $33.7M | $28.0M | $28.0M |
| Total assets | $7.88B | $7.36B | $7.17B | $6.04B | $5.17B |
| Accounts payable | $7.10M | $6.00M | $5.60M | $4.10M | $3.80M |
| Total current liabilities | $560.6M | $738.1M | $804.4M | $343.2M | $305.4M |
| Total liabilities | $783.8M | $920.0M | $1.18B | $1.25B | $1.21B |
| Shareholders' equity | $7.10B | $6.44B | $5.98B | $4.80B | $3.96B |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 25, 2026 | Feb 26, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 24, 2022 |
| Operating cash flow | $1.56B | $1.33B | $978.0M | $802.5M | $598.2M |
| Capital expenditures | $520.5M | $246.5M | $230.4M | $138.8M | $120.8M |
| Free cash flow | $1.04B | $1.08B | $747.6M | $663.7M | $477.4M |
| Depreciation and amortization | $85.6M | $72.5M | $53.2M | $51.3M | $49.9M |
| Stock-based compensation | $147.7M | $144.0M | $39.1M | $106.8M | $138.5M |
| Share buybacks | $1.00B | $1.00B | – | – | – |
| Investing cash flow | -$551.3M | $417.2M | -$719.6M | -$811.5M | -$486.9M |
| Financing cash flow | -$1.15B | -$1.25B | -$11.9M | $75.4M | $44.8M |
| Net change in cash | -$140.1M | $489.5M | $246.5M | $66.4M | $156.1M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 4.6% | 5.0% | 1.7% | 5.5% | 8.2% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 28, 2026 | 42.6M | −1.1% | SEC |
| Jul 29, 2026 | 42.9M | −5.2% | SEC |
| Apr 29, 2026 | 42.4M | −5.9% | SEC |
| Feb 18, 2026 | 43.8M | −2.4% | SEC |
| Oct 22, 2025 | 43.1M | −3.6% | SEC |
| Jul 23, 2025 | 45.2M | +1.7% | SEC |
| Apr 23, 2025 | 45.1M | +1.7% | SEC |
| Feb 19, 2025 | 44.9M | −4.6% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.