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Vertex Pharmaceuticals (VRTX)

Market Price (9/16/2025): $392.5 | Market Cap: $100.8 Bil
Sector: Health Care | Industry: Biotechnology

Vertex Pharmaceuticals (VRTX)

Market Price (9/16/2025): $392.5
Market Cap: $100.8 Bil
Sector: Health Care
Industry: Biotechnology

Investment Highlights

0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 3.8 Bil, FCF LTM is 3.5 Bil		 Weak multi-year price returns
2Y Excs Rtn is -34%, 3Y Excs Rtn is -29%		 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -199 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.7%
1 Low stock price volatility
Vol 12M is 36%		  Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x, P/EPrice/Earnings or Price/(Net Income) is 28x
0 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 34%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 31%, CFO LTM is 3.8 Bil, FCF LTM is 3.5 Bil
1 Low stock price volatility
Vol 12M is 36%
2 Weak multi-year price returns
2Y Excs Rtn is -34%, 3Y Excs Rtn is -29%
3 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -199 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -1.7%
4 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 23x, P/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 26x, P/EPrice/Earnings or Price/(Net Income) is 28x

Market Valuation

 9/16/252024202320222021
Share Price CYE$392.50$402.70$406.89$288.78$219.60
Market Cap CYE ($ Bil)100.8103.6104.974.255.9
Total Debt ($ Bil)1.51.70.80.91.0
Total Cash ($ Bil)6.46.111.210.87.5
Enterprise Value ($ Bil)95.9105.3105.775.156.9
Valuation Ratios     
P/S TTM8.89.410.68.37.5
P/EBIT TTM22.9372.123.717.220.3
P/E TTM27.7-193.929.022.324.2
Sector Ratios     
P/S TTM (Sector)3.83.64.14.57.3
P/EBIT TTM (Sector)-1.6-1.3-1.4-1.3-2.9
P/E TTM (Sector)-1.9-1.6-1.5-1.4-2.9
 9/16/2520242023
Share Price CYE$392.50$402.70$406.89
Market Cap CYE ($ Bil)100.8103.6104.9
Total Debt ($ Bil)1.51.70.8
Total Cash ($ Bil)6.46.111.2
Enterprise Value ($ Bil)95.9105.3105.7
Valuation Ratios   
P/S TTM8.89.410.6
P/EBIT TTM22.9372.123.7
P/E TTM27.7-193.929.0
Sector Ratios   
P/S TTM (Sector)3.83.64.1
P/EBIT TTM (Sector)-1.6-1.3-1.4
P/E TTM (Sector)-1.9-1.6-1.5

Market Cap Chart

Business Description

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis. The company markets SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO to treat patients with cystic fibrosis who have specific mutations in their cystic fibrosis transmembrane conductance regulator gene; and TRIKAFTA for the treatment of patients with CF 6 years of age or older who have at least one F508del mutation. Its pipeline includes VX-864 for the treatment of AAT deficiency, which is in Phase 2 clinical trial; VX-147 for the treatment of APOL1-mediated focal segmental glomerulosclerosis, or FSGS, and other serious kidney diseases which is in Phase 2 clinical trial; VX- 880, treatment for Type 1 Diabetes which is in Phase 1/2 clinical trial; VX-548, a NaV1.8 inhibitor for treatments of acute, neuropathic, musculoskeletal pain which is in Phase 2 clinical trial; and CTX001 for the treatment severe SCD and TDT which is in Phase 3 clinical trial. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
VRTX Return8%-7%32%41%-1%-2%80%
Peers Return7%-14%10%23%-25%22%13%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: BIIB, BMRN, IONS, ACAD, ABBV. See VRTX Returns vs. Peers.
[3] 2025 data is for the year up to 9/15/2025 (YTD)

Latest Trefis Analyses

TitleTopicDate
0DASHBOARDS  
1Vertex Pharmaceuticals Earnings Notes  
2VRTX Slides 17% In A Single Month: Where Does It Rank Among Competitors?  
3Should You Buy Vertex Pharmaceuticals Stock?Buy or Fear 
4Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From BKNG, RCL   
5Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, BMRN   
6Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, BMRN   
7Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, NBIX, EXEL, BMRN Actionable 
8VRTX Dip Buy Analysis  
9Vertex Pharmaceuticals Total Shareholder Return (TSR): -1.0% in 2024 and 22.4% 3-yr compounded annual returns (above peer average)  
10Vertex Pharmaceuticals vs. Steris: VRTX stock's higher valuation vs. STE appears counterintuitiveCounter-Intuitive Comparisons 
11ARTICLES  
12VRTX Dips 17% In One Month: Does It Lead the Pack? August 27th, 2025
13VRTX Dips 16% In One Month, Should You Buy The Stock? August 26th, 2025
14VRTX Down 16% In A Month. How Confident Are You In The Stock? August 26th, 2025
15With VRTX Down 21% in a Day, Is It Time to Compare It Against UTHR? August 6th, 2025
16S&P 500 Stocks Trading At 52-Week Low August 6th, 2025
Title
0DASHBOARDS
1VRTX Dips 17% In One Month: Does It Lead the Pack?
2VRTX Dips 16% In One Month, Should You Buy The Stock?
3VRTX Down 16% In A Month. How Confident Are You In The Stock?
4With VRTX Down 21% in a Day, Is It Time to Compare It Against UTHR?
5S&P 500 Stocks Trading At 52-Week Low
6ARTICLES
7Vertex Pharmaceuticals Earnings Notes
8VRTX Slides 17% In A Single Month: Where Does It Rank Among Competitors?
9Should You Buy Vertex Pharmaceuticals Stock?
10Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From BKNG, RCL 
11Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, BMRN 
12Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, BMRN 
13Better Bet Than VRTX Stock: Pay Less Than Vertex Pharmaceuticals To Get More From UTHR, NBIX, EXEL, BMRN 
14VRTX Dip Buy Analysis
15Vertex Pharmaceuticals Total Shareholder Return (TSR): -1.0% in 2024 and 22.4% 3-yr compounded annual returns (above peer average)
16Vertex Pharmaceuticals vs. Steris: VRTX stock's higher valuation vs. STE appears counterintuitive

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Recent Active Movers

1 Week Top Gainers

#TickerCompany1W RtnYTD Rtn
1NXTTNext Technology18985.5%1080.3%
2BDSXBiodesix1658.4%-75.2%
3VCIGVCI Global1460.0%-66.8%
4CLSDClearside Biomedical1075.2%-72.3%
5SDOTSadot806.7%-78.2%
6WLDSWearable Devices539.8%-24.4%
7QMMMQMMM536.6%5505.5%
8ATCHAtlasClear382.9%-89.7%
9OPIOffice Properties Income Trust274.5%-8.3%
10CWDCaliberCos246.5%-46.7%

1 Week Top Losers

#TickerCompany1W RtnYTD Rtn
1DGNXDiginex-83.7% 
2ATYRaTyr Pharma-81.4%-72.0%
3LGCLLucas GC-73.2%-78.3%
4NAKAKindly MD-72.8% 
5OCTOEightco-67.8%562.1%
6YYGHYY-67.0%-78.2%
7SNTGSentage-58.1%57.5%
8REXREX American Resources-50.7%-26.7%
9BINIBollinger Innovations-49.2%-100.0%
10SLXNSilexion Therapeutics-49.2%-88.0%

More From Trefis

Research & Analysis

Invest in Strategies

Wealth Management

Peer Comparisons for Vertex Pharmaceuticals

Financials

VRTXBIIBBMRNIONSACADABBVMedian
NameVertex P.Biogen BioMarin.Ionis Ph.ACADIA P.AbbVie  
Mkt Price393.21143.3253.1461.1024.67217.61102.21
Mkt Cap100.920.910.29.74.1384.715.6
Rev LTM11,4199,8163,0647171,01958,3286,440
Op Inc LTM-1992,274776-4729013,695433
FCF LTM3,5002,296691-5638818,2391,493
FCF 3Y Avg1,9841,667315-4384520,273991
CFO LTM3,8462,582767-50218819,2831,674
CFO 3Y Avg2,3241,968419-4017821,1541,194

Growth & Margins

VRTXBIIBBMRNIONSACADABBVMedian
NameVertex P.Biogen BioMarin.Ionis Ph.ACADIA P.AbbVie  
Rev Chg LTM10.5%1.6%18.4%-7.6%14.4%6.1%8.3%
Rev Chg 3Y Avg11.0%-3.1%17.0%-1.4%27.9%0.6%5.8%
Rev Chg Q12.1%6.1%15.9%10.1%9.3%6.6%9.7%
QoQ Delta Rev Chg LTM2.9%1.5%3.8%1.7%2.3%1.7%2.0%
Op Mgn LTM-1.7%23.2%25.3%-65.9%8.9%23.5%16.0%
Op Mgn 3Y Avg26.5%23.4%14.0%-65.7%-3.9%27.2%18.7%
QoQ Delta Op Mgn LTM2.0%0.2%4.3%1.5%-0.0%1.0%1.2%
CFO/Rev LTM33.7%26.3%25.0%-70.0%18.4%33.1%25.7%
CFO/Rev 3Y Avg22.5%20.0%15.0%-59.0%7.1%37.5%17.5%
FCF/Rev LTM30.6%23.4%22.6%-78.5%8.7%31.3%23.0%
FCF/Rev 3Y Avg19.2%16.9%10.9%-64.4%3.8%36.0%13.9%

Valuation

VRTXBIIBBMRNIONSACADABBVMedian
NameVertex P.Biogen BioMarin.Ionis Ph.ACADIA P.AbbVie  
Mkt Cap100.920.910.29.74.1384.715.6
P/S8.82.13.313.54.16.65.3
P/EBIT23.010.512.0-25.745.965.317.5
P/E27.714.215.5-21.218.6102.217.1
P/CFO26.28.113.3-19.322.020.016.6
Total Yield3.6%7.1%6.4%-4.7%5.4%3.9%4.6%
Dividend Yield0.0%0.0%0.0%0.0%0.0%2.9%0.0%
FCF Yield 3Y Avg2.1%6.6%2.7%-7.0%1.5%7.3%2.4%
D/E0.00.30.10.10.00.20.1
Net D/E-0.00.2-0.1-0.1-0.20.2-0.1

Returns

VRTXBIIBBMRNIONSACADABBVMedian
NameVertex P.Biogen BioMarin.Ionis Ph.ACADIA P.AbbVie  
1M Rtn0.1%3.4%-7.6%39.6%-2.6%5.3%1.8%
3M Rtn-12.8%9.4%-5.5%73.4%11.4%15.0%10.4%
6M Rtn-23.5%-0.2%-25.7%78.1%43.4%3.3%1.6%
12M Rtn-19.0%-26.7%-37.4%44.8%51.2%16.1%-1.5%
3Y Rtn35.7%-31.2%-39.8%31.9%36.9%69.1%33.8%
1M Excs Rtn-1.5%3.9%-10.6%40.3%-1.7%4.0%1.2%
3M Excs Rtn-24.3%-1.0%-16.2%61.0%3.0%4.2%1.0%
6M Excs Rtn-39.4%-14.5%-40.8%68.1%23.7%-12.7%-13.6%
12M Excs Rtn-36.3%-47.1%-56.4%24.6%35.6%-3.3%-19.8%
3Y Excs Rtn-29.1%-96.2%-108.0%-27.1%-23.5%8.2%-28.1%

Comparison Analyses

Title
0With 33% Gains On The Table, VRTX May Outshine ACAD
1VRTX Could Deliver 33% Returns And Outperform IONS
2BMRN Could Deliver 46% Returns And Outperform VRTX
3Vertex Pharmaceuticals vs. Paychex: With Return Forecast Of 72%, Vertex Pharmaceuticals Is A Better Bet
4Vertex Pharmaceuticals vs. Marriot: With Return Forecast Of 72%, Vertex Pharmaceuticals Is A Better Bet
5Vertex Pharmaceuticals vs. Edwards Lifesciences: With Return Forecast Of 72%, Vertex Pharmaceuticals Is A Better Bet
6Vertex Pharmaceuticals vs. Analog Devices: Similar Revenue, But Vertex Pharmaceuticals Is A Better Bet
7Vertex Pharmaceuticals vs. KLA Tencor: Similar Revenue, But Vertex Pharmaceuticals Is A Better Bet
8Vertex Pharmaceuticals vs. Zoetis: Similar Income, But Vertex Pharmaceuticals Is A Better Bet
9Vertex Pharmaceuticals vs. Autodesk, Inc: Similar Market Cap, But Vertex Pharmaceuticals Is A Better Bet

Financials

$ Mil | FY: 12/312025Q22025Q12024Q42024Q32024Q22024Q12023Q42023Q32023Q22023Q12022Q42022Q3
Period End6/30/20253/31/202512/31/20249/30/20246/30/20243/31/202412/31/20239/30/20236/30/20233/31/202312/31/20229/30/2022
Filing Date8/5/20255/6/20252/13/202511/5/20248/2/20245/7/20242/15/202411/7/20238/2/20235/2/20232/10/202310/28/2022
Key Financials Quarterly            
Total Revenue2,9652,7702,9122,7722,6462,6912,5182,4842,4932,3752,3032,334
Ebitda1,3387821,1861,285-3,3271,3431,2171,2321,2149421,1271,227
Operating Income1,1541,031-3,5161,1329351,2164291,0911,1361,1249421,153
Net Income1,0336469131,045-3,5941,1009691,035916700819930
EPS4.022.523.554.05-13.924.263.764.013.552.723.193.63
Key Financials TTM            
Total Revenue TTM11,41911,10011,02010,62610,33710,1859,8699,6549,5059,2088,9318,701
Ebitda TTM4,591-754865184655,0064,6054,5154,5094,3724,4364,228
Operating Income TTM-199-418-2333,7123,6713,8723,7804,2944,3564,3394,2504,183
Net Income TTM3,638-989-536-480-4904,0193,6203,4703,3653,2603,3223,273
Growth Rates Quarterly            
Total Revenue Growth12.1%3.0%15.7%11.6%6.1%13.3%9.3%6.4%13.5%13.2%11.1%17.7%
EBITDA Growth140.2%-41.8%-2.6%4.3%-374.1%42.6%8.0%0.4%12.8%-6.4%22.5%8.6%
Operating Income Growth23.5%-15.2%-919.8%3.7%-17.7%8.2%-54.5%-5.4%1.5%8.6%7.6%9.2%
Net Income Growth128.7%-41.2%-5.8%1.0%-492.4%57.1%18.3%11.3%13.0%-8.2%6.3%9.2%
Margins Quarterly            
EBITDA Margin45.1%28.2%40.7%46.4%-125.8%49.9%48.3%49.6%48.7%39.7%48.9%52.6%
Operating Income Margin38.9%37.2%-120.7%40.8%35.3%45.2%17.0%43.9%45.6%47.3%40.9%49.4%
Net Income Margin34.8%23.3%31.4%37.7%-135.8%40.9%38.5%41.7%36.7%29.5%35.6%39.9%
Cash & Debt            
Total Cash6,3836,2016,1166,5245,79610,17111,21811,92811,23610,41410,7789,771
Total Debt1,5271,6491,7501,703933721808745768789900825
Net Debt / (Cash)-4,855-4,552-4,366-4,822-4,862-9,450-10,410-11,184-10,469-9,625-9,879-8,946
Cash Flows Quarterly            
FCF from Operations1,0738195851,370-3,7541,3072351,2681,1349001,078956
Cash Flows TTM            
FCF from Operations TTM3,846-980-493-843-9443,9443,5374,3814,0684,0744,1304,046
Returns to Shareholders Quarterly            
Dividends000000000000
Share Repurchases39869742539140136515317031299248
Return on Invested Capital (ROIC) Quarterly            
ROIC359.5%215.8%-463.7%182.7%165.2%-------
Return on Invested Capital (ROIC) TTM            
ROIC TTM-16.0%-24.7%-9.6%175.4%162.1%-------

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
TRIKAFTA/KAFTRIO8,9457,6875,6973,864420
Other product revenues9241,244   
KALYDECO  684803991
ORKAMBI  7729081,332
Other revenues  132
SYMDEKO/SYMKEVI  4206291,418
Total9,8698,9317,5746,2064,163


Price Behavior

VRTX Betas & Captures as of 8/31/2025

 1M2M3M6M1Y3Y
Beta1.501.591.380.430.500.54
Up Beta0.960.770.810.330.390.47
Down Beta-0.280.621.120.100.190.46
Up Capture98%128%96%50%53%29%
Bmk +ve Days10223571142415
Stock +ve Days12233468135422
Down Capture416%385%276%105%102%86%
Bmk -ve Days11192754106334
Stock -ve Days9182857113328

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity3,639,292
Short Interest: % Change Since 8152025-1.7%
Average Daily Volume1,570,284
Days-to-Cover Short Interest2.32
Basic Shares Quantity256,700,000
Short % of Basic Shares1.4%

Returns Analyses

Earnings Returns History

Expand for More

 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
8/4/2025-20.6%-20.7%-16.0%
5/5/2025-10.0%-12.2%-10.9%
2/10/2025-3.1%-1.7%5.4%
11/4/20245.7%6.1%-1.9%
8/1/2024-2.2%-7.9%-2.0%
5/6/20241.9%6.8%20.0%
2/5/2024-3.0%-2.4%-4.0%
11/6/2023-1.9%-1.8%-8.4%
...
SUMMARY STATS   
# Positive121112
# Negative121312
Median Positive2.5%6.1%7.5%
Median Negative-3.1%-2.4%-5.1%
Max Positive9.0%11.9%20.0%
Max Negative-20.6%-20.7%-16.0%

SEC Filings

Expand for More

Report DateFiling DateFiling
6302025805202510-Q 6/30/2025
3312025506202510-Q 3/31/2025
12312024213202510-K 12/31/2024
93020241105202410-Q 9/30/2024
6302024802202410-Q 6/30/2024
3312024507202410-Q 3/31/2024
12312023215202410-K 12/31/2023
93020231107202310-Q 9/30/2023
6302023802202310-Q 6/30/2023
3312023502202310-Q 3/31/2023
12312022210202310-K 12/31/2022
93020221028202210-Q 9/30/2022
6302022805202210-Q 6/30/2022
3312022506202210-Q 3/31/2022
12312021209202210-K 12/31/2021
93020211103202110-Q 9/30/2021

Insider Activity

Expand for More

 OwnerTitleFiling DateActionPriceSharesTransacted
Value		Value of
Held Shares		Form
0Bhatia Sangeeta N. 8292025Sell386.69266102,8601,765,240Form
1Kewalramani ReshmaCEO & President8072025Buy389.084,2901,669,15342,899,183Form
2SACHS BRUCE I 8072025Buy389.361,634636,21416,210,614Form
3ALTSHULER DAVIDEVP, Chief Scientific Officer5192025Sell424.695222,0849,887,208Form
4ALTSHULER DAVIDEVP, Chief Scientific Officer3172025Sell510.003,2311,647,81011,873,310Form

Industry Resources

External Quote Links


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