United Therapeutics Corporation (UTHR)

United Therapeutics Financials Overview

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

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	3,188	3,183	2,877	2,328	1,936	1,686
Revenue Growth	1.89%	10.61%	23.63%	20.20%	14.88%	13.63%
Gross Profit Gross Profit Growth	2,752	2,798	2,568	2,070	1,785	1,563
Operating Income Operating Income Growth	1,346	1,517	1,452	1,188	989	686.9
Net Income Net Income Growth	1,231	1,335	1,195	984.8	727.3	475.8
Earnings Per Share EPS Growth	26.53	27.86	24.64	19.81	15.00	10.06
EPS Growth	0.58%	13.07%	24.38%	32.07%	49.10%	-12.83%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Tyvaso Tyvaso Growth	1,878	1,878	1,620	1,234	873	607.5
Remodulin Remodulin Growth	502.9	526.8	538.1	494.8	500.2	513.7
Orenitram Orenitram Growth	527.5	496.9	434.3	359.4	325.1	306.1
Unituxin Unituxin Growth	233.4	226.8	238.7	198.9	182.9	202.3
Adcirca Adcirca Growth	21.9	30	23.8	28.9	41.3	55.9
Other Other Growth	23.6	24	22.1	11.8	13.8	0
Revenue (Total) Revenue (Total) Growth	3,188	3,183	2,877	2,328	1,936	1,686

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	3,536	4,697	4,742	4,904	4,155	3,581
Total Debt Total Debt Growth	-	37.6	300	700	800	800
Net Cash (Debt) Net Cash Growth	3,536	4,659	4,442	4,204	3,355	2,781
Net Cash Growth	-18.44%	4.89%	5.67%	25.31%	20.65%	27.28%
Net Cash Per Share Net Cash Per Share Growth	76.20	97.27	91.59	84.59	69.17	58.79

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	1,430	1,561	1,327	978	802.5	598.2
Capital Expenditures CapEx Growth	-562.4	-520.5	-246.5	-230.4	-138.8	-120.8
Free Cash Flow Free Cash Flow Growth	867.2	1,041	1,081	747.6	663.7	477.4
Free Cash Flow Growth	-22.70%	-3.69%	44.54%	12.64%	39.02%	-31.45%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	86.34%	87.92%	89.24%	88.94%	92.17%	92.73%
Operating Margin	42.22%	47.67%	50.44%	51.06%	51.08%	40.75%
Pretax Margin	47.30%	53.85%	53.49%	54.75%	49.09%	35.24%
Profit Margin	38.61%	41.94%	41.53%	42.31%	37.56%	28.23%
FCF Margin	27.21%	32.70%	37.55%	32.12%	34.28%	28.32%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov 5, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	22.94	15.72	13.18	10.49	17.43	20.45
Forward PE	20.85	17.14	12.17	9.93	13.57	13.45
P/FCF Ratio	30.10	20.16	14.58	13.82	19.10	20.38
PS Ratio	8.19	6.59	5.48	4.44	6.55	5.77

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Nov 4, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 5, 2026

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