UTHR

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United Therapeutics Corp.

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Key Metrics

Previous Close: $529.14
52-Week Range: $302.19 – $609.35
Market Cap: $22.35B
P/E (TTM): 18.97
EPS (TTM): 27.46
Dividend Yield: —

Advanced Metrics

Price/Book: 3.47
PEG Ratio: 2.22
Return on Equity: 19.31%
Return on Assets: 11.61%
Gross Margin: 86.14%
Operating Margin: 42.23%
Profit Margin: 41.56%
Current Ratio: 5.73
Debt/Equity: —
Total Debt: $0.00
Free Cash Flow: $557.14M
Revenue Growth: -1.90%
Earnings Growth: 13.40%
Enterprise Value: $19.68B

UTHR Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.94B	$2.33B	$2.88B	$3.18B
Cost of Revenue	$151.60M	$257.50M	$309.70M	$384.40M
Gross Profit	$1.78B	$2.07B	$2.57B	$2.80B
Research & Development	$322.90M	$408.00M	$481.00M	$550.00M
Selling, General & Admin	$482.10M	$477.10M	$638.60M	$731.10M
Operating Expenses	$805.00M	$885.10M	$1.12B	$1.28B
Operating Income	$979.70M	$1.18B	$1.45B	$1.52B
EBITDA	$1.03B	$1.39B	$1.65B	$1.82B
Pretax Income	$950.60M	$1.27B	$1.54B	$1.71B
Income Tax	$223.30M	$289.50M	$343.90M	$379.20M
Net Income	$727.30M	$984.80M	$1.20B	$1.33B
Diluted EPS	15.00	19.81	24.64	27.86
Diluted Shares	48.50M	49.70M	48.50M	47.90M

UTHR Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$961.20M	$1.21B	$1.70B	$1.56B
Receivables	$220.40M	$278.90M	$279.30M	$350.20M
Inventory	$102.00M	$111.80M	$157.90M	$183.10M
Current Assets	$3.38B	$3.55B	$3.87B	$3.70B
Total Assets	$6.04B	$7.17B	$7.36B	$7.88B
Current Liabilities	$343.20M	$804.40M	$738.10M	$560.60M
Long-Term Debt	$800.00M	$300.00M	—	—
Total Debt	$800.00M	$700.00M	$300.00M	—
Total Liabilities	$1.25B	$1.18B	$920.00M	$783.80M
Retained Earnings	$5.04B	$6.03B	$7.22B	$8.56B
Shareholders' Equity	$4.80B	$5.98B	$6.44B	$7.10B
Working Capital	$3.04B	$2.75B	$3.14B	$3.14B

UTHR Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$802.50M	$978.00M	$1.33B	$1.56B
Capital Expenditure	-$138.80M	-$230.40M	-$246.50M	-$526.00M
Free Cash Flow	$663.70M	$747.60M	$1.08B	$1.04B
Depreciation & Amortisation	$51.30M	$53.20M	$72.50M	$85.60M
Stock-Based Compensation	$106.80M	$39.10M	$144.00M	$147.70M
Investing Cash Flow	-$811.50M	-$719.60M	$417.20M	-$551.30M
Financing Cash Flow	$75.40M	-$11.90M	-$1.25B	-$1.15B
Share Repurchases	-$11.40M	-$13.80M	-$1.01B	-$1.02B
Net Change in Cash	$66.40M	$246.50M	$489.50M	-$140.10M

UTHR Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$798.60M	$799.50M	$790.20M	$781.50M	$783.30M
Cost of Revenue	$87.60M	$100.90M	$103.40M	$133.40M	$99.50M
Gross Profit	$711.00M	$698.60M	$686.80M	$648.10M	$683.80M
Research & Development	$134.00M	$127.50M	$139.50M	$138.20M	$146.30M
Selling, General & Admin	$190.80M	$181.80M	$189.80M	$184.10M	$206.70M
Operating Expenses	$324.80M	$309.30M	$329.30M	$322.30M	$353.00M
Operating Income	$386.20M	$389.30M	$357.50M	$325.80M	$330.80M
EBITDA	$436.80M	$462.90M	$469.90M	$343.90M	$399.80M
Pretax Income	$408.40M	$438.00M	$444.00M	$318.30M	$372.70M
Income Tax	$98.90M	$99.30M	$79.70M	$43.40M	$39.70M
Net Income	$309.50M	$338.70M	$364.30M	$274.90M	$333.00M
Diluted EPS	6.41	7.16	7.70	5.82	7.27
Diluted Shares	48.30M	47.30M	47.30M	47.20M	45.80M

UTHR Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.59B	$1.34B	$1.56B	$1.28B	$1.80B
Receivables	$379.30M	$297.70M	$350.20M	$312.00M	$310.30M
Inventory	$169.20M	$176.50M	$183.10M	$178.30M	$193.80M
Current Assets	$3.83B	$3.49B	$3.70B	$2.87B	$3.48B
Total Assets	$7.91B	$7.35B	$7.88B	$6.71B	$7.22B
Current Liabilities	$527.10M	$546.30M	$560.60M	$599.10M	$607.80M
Total Liabilities	$734.40M	$760.90M	$783.80M	$813.10M	$819.80M
Retained Earnings	$7.85B	$8.19B	$8.56B	$8.83B	$9.16B
Shareholders' Equity	$7.17B	$6.59B	$7.10B	$5.90B	$6.40B
Working Capital	$3.30B	$2.95B	$3.14B	$2.27B	$2.88B

UTHR Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$191.70M	$562.10M	$346.20M	$463.30M	$313.60M
Capital Expenditure	-$62.20M	-$216.00M	-$172.90M	-$100.80M	-$108.00M
Free Cash Flow	$129.50M	$346.10M	$173.30M	$362.50M	$205.60M
Depreciation & Amortisation	$21.10M	$21.90M	$22.80M	$22.60M	$24.20M
Stock-Based Compensation	$37.80M	$39.10M	$39.00M	$33.90M	$43.40M
Investing Cash Flow	-$299.90M	$140.90M	-$227.60M	$743.70M	$87.50M
Financing Cash Flow	-$198.60M	-$956.00M	$98.40M	-$1.48B	$122.40M
Share Repurchases	-$20.50M	-$1.00B	$4.40M	-$1.50B	-$58.80M
Net Change in Cash	-$306.80M	-$253.00M	$217.00M	-$277.40M	$523.50M

Market Snapshot

About

United Therapeutics Corp. is a biotechnology company focused on the development and commercialization of innovative therapies for patients with chronic and life-threatening conditions. The company specializes in treatments for pulmonary arterial hypertension and has expanded into organ transplantation technologies and other therapeutic areas. United Therapeutics is known for its work in rare diseases and has multiple approved products generating significant revenue.