UNITED THERAPEUTICS Corp
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.2B | $2.9B | $2.3B | $1.9B | $1.7B |
| Cost of revenue | $384.4M | $309.7M | $257.5M | $151.6M | $122.5M |
| Gross profit | $2.8B | $2.6B | $2.1B | $1.8B | $1.6B |
| Selling, general & administrative | $755.8M | $709.7M | $477.1M | $482.1M | $467.0M |
| Research and development | $550.0M | $481.0M | $408.0M | $322.9M | $540.1M |
| Operating income | $1.5B | $1.4B | $1.2B | $979.7M | $555.9M |
| Interest expense | $19.5M | $42.9M | $59.3M | $32.4M | $18.6M |
| Pretax income | $1.7B | $1.5B | $1.3B | $950.6M | $593.9M |
| Income tax expense | $379.2M | $343.9M | $289.5M | $223.3M | $118.1M |
| Net income | $1.3B | $1.2B | $984.8M | $727.3M | $475.8M |
| Balance Sheet | |||||
| Cash and equivalents | $1.6B | $1.7B | $1.2B | $961.2M | $894.8M |
| Current assets | $3.7B | $3.9B | $3.6B | $3.4B | $2.3B |
| Total assets | $7.9B | $7.4B | $7.2B | $6.0B | $5.2B |
| Current liabilities | $560.6M | $738.1M | $804.4M | $343.2M | $305.4M |
| Total liabilities | $783.8M | $920.0M | $1.2B | $1.2B | $1.2B |
| Stockholders' equity | $7.1B | $6.4B | $6.0B | $4.8B | $4.0B |
| Cash Flow Statement | |||||
| Cash from operations | $1.6B | $1.3B | $978.0M | $802.5M | $598.2M |
| 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 |
| Capital expenditure | $520.5M | $246.5M | $230.4M | $138.8M | $120.8M |
| Free cash flow | $1.0B | $1.1B | $747.6M | $663.7M | $477.4M |
| Share repurchases | $1.0B | $1.0B | $0 | $0 | — |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 42.4M · Free float 18.7%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.