United Therapeutics Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Operating Revenue	3,128	2,877	2,328	1,936	1,686	1,483
Revenue	3,128	2,877	2,328	1,936	1,686	1,483
Revenue Growth (YoY)	13.50%	23.63%	20.20%	14.88%	13.63%	2.38%
Cost of Revenue	356.9	309.7	257.5	151.6	122.5	108.1
Gross Profit	2,772	2,568	2,070	1,785	1,563	1,375
Selling, General & Admin	705.6	640.4	476	472.8	466.1	421.1
Research & Development	544.3	481	408	322.9	410	357.7
Operating Expenses	1,250	1,121	884	795.7	876.1	778.8
Operating Income	1,522	1,446	1,186	989	686.9	596.4
Interest Expense	-24.3	-42.9	-59.3	-32.4	-18.6	-23.5
Interest & Investment Income	198.1	199.1	162.7	45.2	16.7	28.6
Other Non Operating Income (Expenses)	4.5	-1.4	-27.3	-38.3	43.8	26.4
EBT Excluding Unusual Items	1,700	1,601	1,262	963.5	728.8	627.9
Gain (Loss) on Sale of Investments	-3.6	9	15.8	-1.7	-2.3	16.4
Asset Writedown	-21.7	-	-3.6	-11.2	-132.6	-5.4
Legal Settlements	-8.2	-71.1	-	-	-	-
Pretax Income	1,666	1,539	1,274	950.6	593.9	638.9
Income Tax Expense	394.7	343.9	289.5	223.3	118.1	124.1
Net Income	1,272	1,195	984.8	727.3	475.8	514.8
Net Income to Common	1,272	1,195	984.8	727.3	475.8	514.8
Net Income Growth	14.47%	21.36%	35.41%	52.86%	-7.58%	-
Shares Outstanding (Basic)	45	45	47	46	45	44
Shares Outstanding (Diluted)	48	49	50	49	47	45
Shares Change (YoY)	-1.38%	-2.41%	2.47%	2.54%	6.05%	1.83%
EPS (Basic)	28.47	26.44	21.04	15.98	10.60	11.65
EPS (Diluted)	26.38	24.64	19.81	15.00	10.06	11.54
EPS Growth	16.08%	24.38%	32.07%	49.10%	-12.83%	-
Free Cash Flow	1,122	1,081	747.6	663.7	477.4	696.4
Free Cash Flow Per Share	23.28	22.28	15.04	13.69	10.09	15.61
Gross Margin	88.59%	89.24%	88.94%	92.17%	92.73%	92.71%
Operating Margin	48.64%	50.26%	50.96%	51.08%	40.75%	40.21%
Profit Margin	40.65%	41.53%	42.31%	37.56%	28.23%	34.71%
Free Cash Flow Margin	35.86%	37.55%	32.12%	34.28%	28.32%	46.95%
EBITDA	1,604	1,519	1,239	1,040	736.8	646.3
EBITDA Margin	51.28%	52.78%	53.24%	53.73%	43.71%	43.57%
D&A For EBITDA	82.5	72.5	53.2	51.3	49.9	49.9
EBIT	1,522	1,446	1,186	989	686.9	596.4
EBIT Margin	48.64%	50.26%	50.96%	51.08%	40.75%	40.21%
Effective Tax Rate	23.69%	22.35%	22.72%	23.49%	19.89%	19.42%

Source: S&P Global Market Intelligence. Standard template. Financial Sources.