# Vertex Pharmaceuticals Incorporated (VRTX)

> VRTX · Nasdaq · Health care, biotechnology · United States · US GAAP · Fiscal year ends December
>
> Latest report: Q3 FY2026, the quarter ended 30 September 2026, released 3 November 2026. Snapshot FY2026Q3_3e58470d.

Page: https://annalist.io/company/vertex-pharmaceuticals/

Identifiers: LEI 54930015RAQRRZ5ZGJ91, CIK 0000875320

## Latest Figures

| Figure | Value | Exact value | Unit | Change | Period | Period end | Source documents |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Revenue, quarter | $3.4bn | 3440800000 | USD | +11.8% year on year | FY2026 Q3 | 2026-09-30 | 10-Q 2026-09 |
| Operating income, quarter | $713m | 712900000 | USD | −39.9% year on year | FY2026 Q3 | 2026-09-30 | 10-Q 2026-09 |
| Net income, quarter | $654m | 653600000 | USD | −39.6% year on year | FY2026 Q3 | 2026-09-30 | 10-Q 2026-09 |
| Diluted EPS, quarter | $2.56 | 2.56 | USD/shares | −39.0% year on year | FY2026 Q3 | 2026-09-30 | 10-Q 2026-09 |
| Operating margin, last 4 quarters | 33.2% | 33.2299 | % | −0.8pp year on year | FY2026 Q3 | 2026-09-30 | 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03, 10-Q 2026-06, 10-Q 2026-09 |
| Return on equity, last 4 quarters | 20.8% | 20.802 | % | −1.5pp year on year | FY2026 Q3 | 2026-09-30 | 10-Q 2025-09, 10-Q 2026-09, 10-K 2025-12, 10-Q 2026-03, 10-Q 2026-06 |

- Operating margin: Operating income / revenue.
- Return on equity: Net income attributable to the company / average shareholders' equity attributable to the company.

## Key Findings

Each finding is a sentence written by a fixed rule from the figures; the mark in brackets is how the finding moved against the report before.

- Revenue for the quarter ended 30 September 2026 was US$3.4 billion, 11.8% higher than in the same quarter a year earlier. [Confirmed in Q3 FY2026] Sources: 10-Q 2026-09.
- Net income attributable to the company was US$654 million, 39.6% lower than in the same quarter a year earlier. [New in Q3 FY2026] Sources: 10-Q 2026-09.
- The operating margin over the last 4 quarters was 33.2%, 0.8 percentage points lower than a year earlier. [New in Q3 FY2026] Sources: 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03, 10-Q 2026-06, 10-Q 2026-09.
- Return on equity over the last 4 quarters was 20.8%, against 22.3% a year earlier. [New in Q3 FY2026] Sources: 10-Q 2025-09, 10-Q 2026-09, 10-K 2025-12, 10-Q 2026-03, 10-Q 2026-06, 10-Q 2024-09.
- Free cash flow over the last 4 quarters was US$3.2 billion, and operating cash flow was 0.9 times net income attributable to the company. [Weakened in Q3 FY2026] Sources: 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03, 10-Q 2026-06, 10-Q 2026-09.
- Cash and short-term investments exceeded total debt by US$1.8 billion at 30 September 2026. [New in Q3 FY2026] Sources: 10-Q 2026-09.
- Lease-adjusted debt was 1.2 times adjusted EBITDA over the last 4 quarters, and funds from operations equalled 63.4% of that debt. Both ratios are within the minimal band of the S&P standard volatility table. The lease figures that the quarters do not report are estimated from the lease cost of fiscal 2025. [Confirmed in Q3 FY2026] Sources: 10-Q 2026-09, 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03, 10-Q 2026-06.
- Cash, short-term investments and operating cash flow over the last 4 quarters equalled 6.7 times the sum of debt due within 12 months, capital expenditure and dividends. [Weakened in Q3 FY2026] Sources: 10-Q 2026-09, 10-K 2025-12, 10-Q 2025-09, 10-Q 2026-03, 10-Q 2026-06.
- Net income attributable to the company over the last 4 quarters exceeded operating cash flow by an amount equal to 1.0% of average total assets. [Strengthened in Q3 FY2026] Sources: 10-Q 2025-09, 10-Q 2026-09, 10-K 2025-12, 10-Q 2026-03, 10-Q 2026-06.
- The Altman Z'' score for fiscal 2025 was 7.50, above the safe threshold of 2.60. [Strengthened in FY2025] Sources: 10-Q 2026-09, 10-K 2025-12.
- The Beneish M-score for fiscal 2025 was minus 2.17, below the model threshold of minus 1.78. [Confirmed in FY2025] Sources: 10-K 2025-12, 10-K 2024-12, 10-Q 2026-09.
- The Piotroski F-score for fiscal 2025 was 8 of 9. The signal not met was operating cash flow above net income. [New in FY2025] Sources: 10-K 2024-12, 10-K 2025-12, 10-Q 2026-09.

## Fiscal Years

| Fiscal year | Year end | Item | Value | Exact value | Unit | Source documents |
| --- | --- | --- | --- | --- | --- | --- |
| FY2025 | 2025-12-31 | Revenue | $12.0bn | 12001300000 | USD | 10-K 2025-12 |
| FY2025 | 2025-12-31 | Operating income | $4.2bn | 4173300000 | USD | 10-K 2025-12 |
| FY2025 | 2025-12-31 | Net income attributable to the company | $4.0bn | 3953200000 | USD | 10-K 2025-12 |
| FY2024 | 2024-12-31 | Revenue | $11.0bn | 11020100000 | USD | 10-K 2025-12 |
| FY2024 | 2024-12-31 | Operating income | −$233m | -232900000 | USD | 10-K 2025-12 |
| FY2024 | 2024-12-31 | Net income attributable to the company | −$536m | -535600000 | USD | 10-K 2025-12 |
| FY2023 | 2023-12-31 | Revenue | $9.9bn | 9869200000 | USD | 10-K 2025-12 |
| FY2023 | 2023-12-31 | Operating income | $3.8bn | 3832000000 | USD | 10-K 2025-12 |
| FY2023 | 2023-12-31 | Net income attributable to the company | $3.6bn | 3619600000 | USD | 10-K 2025-12 |
| FY2022 | 2022-12-31 | Revenue | $8.9bn | 8930700000 | USD | 10-K 2024-12 |
| FY2022 | 2022-12-31 | Operating income | $4.3bn | 4307400000 | USD | 10-K 2024-12 |
| FY2022 | 2022-12-31 | Net income attributable to the company | $3.3bn | 3322000000 | USD | 10-K 2024-12 |
| FY2021 | 2021-12-31 | Revenue | $7.6bn | 7574400000 | USD | 10-K 2023-12 |
| FY2021 | 2021-12-31 | Operating income | $2.8bn | 2782100000 | USD | 10-K 2023-12 |
| FY2021 | 2021-12-31 | Net income attributable to the company | $2.3bn | 2342100000 | USD | 10-K 2023-12 |

## Source Documents

- 10-Q 2026-09: Form 10-Q, period ended 30 September 2026, 3 Nov 2026 (https://www.sec.gov/Archives/edgar/data/875320/000087532026000291/vrtx-20260930.htm)
- 10-K 2025-12: Form 10-K, period ended 31 December 2025, 13 Feb 2026 (https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm)
- 10-Q 2025-09: Form 10-Q, period ended 30 September 2025, 4 Nov 2025 (https://www.sec.gov/Archives/edgar/data/875320/000087532025000232/vrtx-20250930.htm)
- 10-Q 2026-03: Form 10-Q, period ended 31 March 2026, 5 May 2026 (https://www.sec.gov/Archives/edgar/data/875320/000087532026000173/vrtx-20260331.htm)
- 10-Q 2026-06: Form 10-Q, period ended 30 June 2026, 4 Aug 2026 (https://www.sec.gov/Archives/edgar/data/875320/000087532026000259/vrtx-20260630.htm)
- 10-Q 2024-09: Form 10-Q, period ended 30 September 2024, 5 Nov 2024 (https://www.sec.gov/Archives/edgar/data/875320/000087532024000223/vrtx-20240930.htm)
- 10-K 2024-12: Form 10-K, period ended 31 December 2024, 13 Feb 2025 (https://www.sec.gov/Archives/edgar/data/875320/000087532025000053/vrtx-20241231.htm)
- 10-K 2023-12: Form 10-K, period ended 31 December 2023, 15 Feb 2024 (https://www.sec.gov/Archives/edgar/data/875320/000087532024000062/vrtx-20231231.htm)

## Reliability

- 262 checks compare these figures with other official figures; 0 failed.
- 1 value is withheld because the filings do not prove it; a withheld value is absent, never estimated.
- Every earlier snapshot stays published: https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots.json

## Cite

Annalist, Vertex Pharmaceuticals Incorporated, snapshot vertex-pharmaceuticals/FY2026Q3_3e58470d; <item>, <period>; source <document>. Link the page https://annalist.io/company/vertex-pharmaceuticals/ and the source document of the figure.

A figure of a statement has an address of its own, which opens the page at that figure with its source documents: https://annalist.io/company/vertex-pharmaceuticals/?fig=<statement>/<period>/<item>, for example https://annalist.io/company/vertex-pharmaceuticals/?fig=pl_quarterly/FY2026%20Q3/revenue

## Full Data

- [Every statement, ratio and document of this snapshot (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/info.json)
- [Latest snapshot, at an address that does not change (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/latest.json)
- [Income statement, quarterly (CSV)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/pl_quarterly.csv)
- [Income statement, annual (CSV)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/pl_annual.csv)
- [Balance sheet, quarter end (CSV)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/balance_sheet.csv)
- [Cash flow, quarterly (CSV)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/cf_quarterly.csv)
- [Cash flow, annual (CSV)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/cf_annual.csv)
- [Ratios, annual (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/ratios/annual.json)
- [Ratios, quarterly (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/ratios/quarterly.json)
- [Ratios, ttm (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/snapshots/FY2026Q3_3e58470d/ratios/ttm.json)
- [Key findings with their history (JSON)](https://annalist.io/api/v1/companies/vertex-pharmaceuticals/findings.json)
- [New reports and findings (Atom feed)](https://annalist.io/company/vertex-pharmaceuticals/feed.xml)
- [Excel workbook](https://annalist.io/company/vertex-pharmaceuticals/vertex-pharmaceuticals.xlsx)
- [Buyout model on these figures](https://annalist.io/deal-lab/buyout/vertex-pharmaceuticals/)
- [Lenders, customers, suppliers and owners (brief in Markdown)](https://annalist.io/atlas/vertex-pharmaceuticals/brief.md)
- [Lenders, customers, suppliers and owners (JSON)](https://annalist.io/api/v1/atlas/vertex-pharmaceuticals.json)

## Peers

- [Gilead Sciences, Inc.](https://annalist.io/company/gilead-sciences/brief.md)
- [Amgen Inc.](https://annalist.io/company/amgen/brief.md)
- [Viatris Inc.](https://annalist.io/company/viatris/brief.md)
- [Side by side](https://annalist.io/compare/?c=vertex-pharmaceuticals,gilead-sciences,amgen,viatris)

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Figures come from official filings and are provided as they are, without warranty of accuracy or completeness. They are not investment advice.