United Therapeutics Income Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	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	3,170	3,183	2,877	2,328	1,936	1,686
Revenue Growth (YoY)	5.87%	10.61%	23.63%	20.20%	14.88%	13.63%
Cost of Revenue	425.3	384.4	309.7	257.5	151.6	122.5
Gross Profit	2,745	2,798	2,568	2,070	1,785	1,563
Selling, General & Admin	769.8	755.8	709.7	477.1	482.1	467
Research & Development	539.2	550	481	408	322.9	540.1
Total Operating Expenses	1,309	1,306	1,191	885.1	805	1,007
Operating Income	1,436	1,493	1,377	1,185	979.7	555.9
Total Non-Operating Income (Expense)	173.2	221.4	162	89.4	-29.1	38
Pretax Income	1,609	1,714	1,539	1,274	950.6	593.9
Provision for Income Taxes	321.3	379.2	343.9	289.5	223.3	118.1
Net Income	1,287	1,335	1,195	984.8	727.3	475.8
Net Income to Common	1,287	1,335	1,195	984.8	727.3	475.8
Net Income Growth	6.33%	11.68%	21.36%	35.41%	52.86%	-7.58%
Shares Outstanding (Basic)	44	44	45	47	46	45
Shares Outstanding (Diluted)	48	48	49	50	49	47
Shares Change (YoY)	-1.60%	-1.24%	-2.41%	2.47%	2.54%	6.05%
EPS (Basic)	29.32	30.13	26.44	21.04	15.98	10.60
EPS (Diluted)	27.09	27.86	24.64	19.81	15.00	10.06
EPS Growth	8.10%	13.07%	24.38%	32.07%	49.10%	-12.83%
Shares Outstanding	42.16	43.64	44.83	47.04	46.03	45.08
Free Cash Flow	1,017	1,041	1,081	747.6	663.7	477.4
Free Cash Flow Growth	-2.29%	-3.69%	44.54%	12.64%	39.02%	-31.45%
Free Cash Flow Per Share	21.40	21.73	22.28	15.04	13.68	10.09
Gross Margin	86.58%	87.92%	89.24%	88.94%	92.17%	92.73%
Operating Margin	45.29%	46.89%	47.86%	50.91%	50.60%	32.98%
Profit Margin	40.61%	41.94%	41.53%	42.31%	37.56%	28.23%
FCF Margin	32.08%	32.70%	37.55%	32.12%	34.28%	28.32%
EBITDA	1,524	1,578	1,450	1,238	1,031	605.8
EBITDA Margin	48.08%	49.58%	50.38%	53.19%	53.25%	35.94%
EBIT	1,436	1,493	1,377	1,185	979.7	555.9
EBIT Margin	45.29%	46.89%	47.86%	50.91%	50.60%	32.98%
Effective Tax Rate	19.97%	22.13%	22.35%	22.72%	23.49%	19.89%

Updated May 6, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q