United Therapeutics Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,183	2,877	2,328	1,936	1,686
Revenue Growth (YoY)	10.61%	23.63%	20.20%	14.88%	13.63%
Cost of Revenue	384.4	309.7	257.5	151.6	122.5
Gross Profit	2,798	2,568	2,070	1,785	1,563
Selling, General & Admin	755.8	709.7	477.1	482.1	467
Research & Development	550	481	408	322.9	540.1
Total Operating Expenses	1,306	1,191	885.1	805	1,007
Operating Income	1,493	1,377	1,185	979.7	555.9
Total Non-Operating Income (Expense)	221.4	162	89.4	-29.1	38
Pretax Income	1,714	1,539	1,274	950.6	593.9
Provision for Income Taxes	379.2	343.9	289.5	223.3	118.1
Net Income	1,335	1,195	984.8	727.3	475.8
Net Income to Common	1,335	1,195	984.8	727.3	475.8
Net Income Growth	11.68%	21.36%	35.41%	52.86%	-7.58%
Shares Outstanding (Basic)	44	45	47	46	45
Shares Outstanding (Diluted)	48	49	50	49	47
Shares Change (YoY)	-1.24%	-2.41%	2.47%	2.54%	6.05%
EPS (Basic)	30.13	26.44	21.04	15.98	10.60
EPS (Diluted)	27.86	24.64	19.81	15.00	10.06
EPS Growth	13.07%	24.38%	32.07%	49.10%	-12.83%
Free Cash Flow	1,041	1,081	747.6	663.7	477.4
Free Cash Flow Growth	-3.69%	44.54%	12.64%	39.02%	-31.45%
Free Cash Flow Per Share	21.73	22.28	15.04	13.68	10.09
Gross Margin	87.92%	89.24%	88.94%	92.17%	92.73%
Operating Margin	46.89%	47.86%	50.91%	50.60%	32.98%
Profit Margin	41.94%	41.53%	42.31%	37.56%	28.23%
FCF Margin	32.70%	37.55%	32.12%	34.28%	28.32%
EBITDA	1,578	1,450	1,238	1,031	605.8
EBITDA Margin	49.58%	50.38%	53.19%	53.25%	35.94%
EBIT	1,493	1,377	1,185	979.7	555.9
EBIT Margin	46.89%	47.86%	50.91%	50.60%	32.98%
Effective Tax Rate	22.12%	22.35%	22.72%	23.49%	19.89%

Updated Feb 25, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q