Vertex Pharmaceuticals Incorporated (VRTX) financial statements: income statement, balance sheet and cash flow

Vertex Pharmaceuticals Incorporated's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters.

Income statement

Vertex Pharmaceuticals Incorporated income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Product revenues, net	$12.0B	$11.0B	$9.9B	$8.9B
Cost of sales	$1.7B	$1.5B	$1.3B	$1.1B
Research and development expenses	$3.9B	$3.6B	$3.2B	$2.5B
Acquired in-process research and development expenses	$133.0M	$4.6B	$527.1M	$115.5M
Selling, general and administrative expenses	$1.8B	$1.5B	$1.1B	$944.7M
Intangible asset impairment charge	$379.0M	—	—	—
Change in fair value of contingent consideration	$2.1M	($500.0K)	($51.6M)	($57.5M)
Total costs and expenses	$7.8B	$11.3B	$6.0B	$4.6B
Income (loss) from operations	$4.2B	($232.9M)	$3.8B	$4.3B
Interest income	$490.9M	$598.1M	$614.7M	$144.6M
Interest expense	($13.3M)	($30.6M)	($44.1M)	($54.8M)
Other expense, net	($7.7M)	($86.1M)	($22.8M)	($164.8M)
Income before provision for income taxes	$4.6B	$248.5M	$4.4B	$4.2B
Provision for income taxes	$690.0M	$784.1M	$760.2M	$910.4M
income (loss)	$4.0B	($535.6M)	$3.6B	$3.3B
Basic (in dollars per share)	$15.46	-$2.08	$14.05	$12.97
Diluted (in dollars per share)	$15.32	-$2.08	$13.89	$12.82
Basic (in shares)	255.7M	257.9M	257.7M	256.1M
Diluted (in shares)	258.0M	257.9M	260.5M	259.1M

Vertex Pharmaceuticals Incorporated income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Total revenues	$3.3B	$3.0B	$3.1B	$3.0B
Cost of sales	$489.2M	$392.8M	$414.8M	$407.5M
Research and development expenses	$993.8M	$961.6M	$977.7M	$978.4M
Acquired in-process research and development expenses	$21.4M	$500.0K	$54.5M	$2.2M
Selling, general and administrative expenses	$582.2M	$493.7M	$445.1M	$424.6M
Intangible asset impairment charge	$0	$0	$0	$0
Change in fair value of contingent consideration	$400.0K	$200.0K	($1.9M)	$900.0K
Total costs and expenses	$2.1B	$1.8B	$1.9B	$1.8B
Income from operations	$1.2B	$1.1B	$1.2B	$1.2B
Interest income, net	$120.6M	$114.8M	—	—
Other income (expense), net	$24.3M	$0	($9.8M)	$13.2M
Income before Provision for income taxes	$1.4B	$1.3B	$1.3B	$1.3B
Provision for income taxes	$292.0M	$221.5M	$215.9M	$250.1M
Net income	$1.1B	$1.0B	$1.1B	$1.0B
Basic (in dollars per share)	$4.34	$4.06	$4.24	$4.02
Diluted (in dollars per share)	$4.31	$4.02	$4.20	$3.99
Basic (in shares)	253.7M	254.1M	255.6M	256.7M
Diluted (in shares)	255.2M	256.3M	257.6M	258.9M

Balance sheet

Vertex Pharmaceuticals Incorporated balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$5.1B	$4.6B	$10.4B	$10.5B
Marketable securities	$1.5B	$1.5B	$849.2M	$274.5M
Accounts receivable, net	$2.1B	$1.6B	$1.6B	$1.4B
Inventories	$1.7B	$1.2B	$738.8M	$460.6M
Prepaid expenses and other current assets	$853.3M	$665.7M	$623.7M	$553.5M
Total current assets	$11.2B	$9.6B	$14.1B	$13.2B
Property and equipment, net	$1.5B	$1.2B	$1.2B	$1.1B
Goodwill	$1.1B	$1.1B	$1.1B	$1.1B
Other intangible assets, net	$424.2M	$825.9M	$839.9M	$603.6M
Deferred tax assets	$2.9B	$2.3B	$1.8B	$1.2B
Operating lease assets	$1.6B	$1.4B	$293.6M	$347.4M
Long-term marketable securities	$5.7B	$5.1B	$2.5B	—
Other assets	$1.2B	$999.3M	$895.3M	$521.8M
Total assets	$25.6B	$22.5B	$22.7B	$18.2B
Accounts payable	$461.7M	$413.0M	$364.9M	$303.9M
Accrued expenses	$3.0B	$2.8B	$2.7B	$2.1B
Other current liabilities	$428.3M	$363.0M	$527.2M	$311.5M
Total current liabilities	$3.9B	$3.6B	$3.5B	$2.7B
Long-term operating lease liabilities	$1.8B	$1.5B	$348.6M	$379.5M
Other long-term liabilities	$1.3B	$901.8M	$877.7M	$685.8M
Total liabilities	$7.0B	$6.1B	$5.1B	$4.2B
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued and outstanding	0	0	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 253,991,224 and 256,940,382 shares issued and outstanding, respectively	2.5M	2.6M	2.6M	2.6M
Additional paid-in capital	$5.1B	$6.7B	$7.4B	$7.4B
Accumulated other comprehensive (loss) income	($15.9M)	$127.8M	($14.3M)	$800.0K
Retained earnings	$13.6B	$9.6B	$10.1B	$6.5B
Total shareholders’ equity	$18.7B	$16.4B	$17.6B	$13.9B
Total liabilities and shareholders’ equity	$25.6B	$22.5B	$22.7B	$18.2B

Vertex Pharmaceuticals Incorporated balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$6.1B	$5.5B	$4.9B	$5.0B
Marketable securities	$1.7B	$1.8B	$1.3B	$1.4B
Accounts receivable, net	$2.1B	$2.0B	$1.9B	$1.9B
Inventories	$1.8B	$1.8B	$1.6B	$1.5B
Prepaid expenses and other current assets	$791.9M	$720.8M	$709.4M	$652.3M
Total current assets	$12.5B	$11.7B	$10.6B	$10.4B
Property and equipment, net	$1.7B	$1.6B	$1.4B	$1.3B
Goodwill	$1.1B	$1.1B	$1.1B	$1.1B
Other intangible assets, net	$412.8M	$418.5M	$429.8M	$435.5M
Deferred tax assets	$3.0B	$2.9B	$2.9B	$2.7B
Operating lease assets	$1.7B	$1.7B	$1.6B	$1.3B
Long-term marketable securities	$5.8B	$5.7B	$5.7B	$5.6B
Other assets	$1.3B	$1.3B	$1.1B	$1.1B
Total assets	$27.4B	$26.5B	$24.9B	$24.0B
Accounts payable	$429.5M	$489.3M	$420.3M	$442.3M
Accrued expenses	$3.2B	$3.0B	$3.6B	$3.3B
Other current liabilities	$329.4M	$407.1M	$441.5M	$425.4M
Total current liabilities	$3.9B	$3.9B	$4.5B	$4.1B
Long-term operating lease liabilities	$2.0B	$2.0B	$1.8B	$1.5B
Other long-term liabilities	$1.3B	$1.3B	$1.2B	$1.2B
Total liabilities	$7.2B	$7.1B	$7.5B	$6.9B
Preferred stock, $0.01 par value; 1,000,000 shares authorized; none issued	0	0	0	0
Common stock, $0.01 par value; 500,000,000 shares authorized, 253,347,555 and 253,991,224 shares issued and outstanding, respectively	2.5M	2.5M	2.5M	2.6M
Additional paid-in capital	$4.5B	$4.7B	$5.0B	$6.0B
Accumulated other comprehensive income (loss)	$48.5M	$24.8M	($64.5M)	($101.1M)
Retained earnings	$15.7B	$14.6B	$12.4B	$11.3B
Total shareholders’ equity	$20.2B	$19.4B	$17.3B	$17.2B
Total liabilities and shareholders’ equity	$27.4B	$26.5B	$24.9B	$24.0B

Cash flow statement

Vertex Pharmaceuticals Incorporated cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
income (loss)	$4.0B	($535.6M)	$3.6B	$3.3B
Stock-based compensation expense	$685.9M	$698.5M	$581.2M	$491.3M
Depreciation and amortization expense	$209.8M	$207.2M	$181.3M	$148.3M
Intangible asset impairment charges	$379.0M	—	—	—
Deferred income taxes	($510.8M)	($348.8M)	($536.5M)	($275.9M)
Other non-cash items, net	$113.4M	($56.3M)	$8.4M	$11.8M
Accounts receivable, net	($347.3M)	($99.3M)	($84.1M)	($358.6M)
Inventories	($524.2M)	($517.3M)	($322.9M)	($136.4M)
Prepaid expenses and other assets	($396.0M)	($200.3M)	($545.7M)	($326.4M)
Accounts payable	$36.8M	$49.5M	$48.7M	$120.8M
Accrued expenses	($116.9M)	$212.9M	$429.4M	$542.5M
Other liabilities	$148.5M	$39.7M	$208.9M	$498.9M
Net cash provided by (used in) operating activities	$3.6B	($492.6M)	$3.5B	$4.1B
Purchases of available-for-sale debt securities	($6.4B)	($7.4B)	($3.8B)	($692.7M)
Sales and maturities of available-for-sale debt securities	$5.9B	$4.5B	$839.1M	$920.0M
Purchases of property and equipment	($437.6M)	($297.7M)	($200.4M)	($204.7M)
Proceeds related to equity securities	$16.0M	$0	$95.1M	—
Net payments related to finite-lived intangible assets	$0	($187.7M)	—	—
Acquisition of available-for-sale debt securities from Alpine Immune Sciences, Inc.	$0	($258.0M)	—	—
Other investing activities	($24.7M)	($54.0M)	—	—
Net cash used in investing activities	($945.4M)	($3.8B)	($3.1B)	($321.1M)
Issuances of common stock under benefit plans	127.7M	114.6M	134.6M	186.3M
Repurchases of common stock	($2.0B)	($1.2B)	($427.6M)	$0
Payments in connection with common stock withheld for employee tax obligations	($369.9M)	($405.0M)	($226.1M)	($172.0M)
Payments on finance leases	($5.4M)	($33.6M)	($44.9M)	($85.5M)
Other financing activities	$3.7M	$6.2M	—	$3.5M
Net cash used in financing activities	($2.3B)	($1.5B)	($562.2M)	($67.7M)
Effect of changes in exchange rates on cash	$90.9M	($42.6M)	$26.9M	($29.2M)
Net increase (decrease) in cash, cash equivalents and restricted cash	$515.6M	($5.8B)	($139.7M)	$3.7B
Cash, cash equivalents and restricted cash—beginning of period	$4.6B	$10.4B	$10.5B	$6.8B
Cash, cash equivalents and restricted cash—end of period	$5.1B	$4.6B	$10.4B	$10.5B
Cash paid for income taxes	$1.6B	$1.1B	$1.7B	$1.1B
Cash paid for interest	$12.4M	$30.5M	$43.1M	$52.3M
Net payments due to CRISPR Therapeutics AG related to finite-lived intangible assets	$0	$0	$180.0M	—

Vertex Pharmaceuticals Incorporated cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$2.1B	$1.0B	$2.8B	$1.7B
Stock-based compensation expense	$336.6M	$166.4M	$528.3M	$333.4M
Depreciation and amortization expense	$112.4M	$55.9M	$154.1M	$100.1M
Intangible asset impairment charge	$0	$0	$379.0M	$379.0M
Deferred income taxes	($135.0M)	($65.3M)	($541.3M)	($305.4M)
Other non-cash items, net	($21.4M)	($5.0M)	$90.3M	$97.0M
Accounts receivable	($100.4M)	$39.8M	($247.9M)	($188.0M)
Inventories	($125.4M)	($97.7M)	($446.8M)	($315.7M)
Prepaid expenses and other assets	$122.0M	$173.4M	($145.4M)	($104.5M)
Accounts payable	($31.1M)	$35.6M	($1.5M)	$33.8M
Accrued expenses	$293.0M	$70.5M	$547.6M	$214.7M
Other liabilities	($28.4M)	$23.1M	$42.7M	($41.2M)
Net cash provided by operating activities	$2.6B	$1.4B	$3.1B	$1.9B
Purchases of available-for-sale debt securities	($4.9B)	($2.5B)	($5.2B)	($3.8B)
Sales and maturities of available-for-sale debt securities	$4.6B	$2.2B	$4.8B	$3.5B
Purchases of property and equipment	($245.6M)	($133.4M)	($288.2M)	($186.4M)
Proceeds from conversion of notes receivable	$75.5M	—	—	—
Other investing activities	($1.7M)	$0	($8.8M)	($9.6M)
Net cash used in investing activities	($477.7M)	($431.9M)	($657.3M)	($540.3M)
Issuances of common stock under benefit plans	74.7M	27.0M	73.7M	65.8M
Repurchases of common stock	($806.4M)	($336.9M)	($1.9B)	($817.9M)
Payments in connection with common stock withheld for employee tax obligations	($232.8M)	($228.5M)	($367.4M)	($276.4M)
Other financing activities	($1.0M)	($400.0K)	$2.6M	$1.5M
Net cash used in financing activities	($965.5M)	($538.8M)	($2.2B)	($1.0B)
Effect of changes in exchange rates on cash	($44.0M)	($40.3M)	$83.6M	$87.7M
Net increase in cash, cash equivalents and restricted cash	$1.1B	$417.1M	$375.6M	$409.8M
Cash, cash equivalents and restricted cash—beginning of period	$5.1B	$5.1B	$4.6B	$4.6B
Cash, cash equivalents and restricted cash—end of period	$6.2B	$5.5B	$4.9B	$5.0B
Cash paid for income taxes	$501.5M	$82.3M	$1.2B	$697.7M
Cash paid for interest	$6.3M	$3.2M	$9.4M	$6.2M

Vertex Pharmaceuticals Incorporated score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.