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Vertex Pharmaceuticals Incorporated (VRTX) Stock: Price, Forecast & Analyst Target

Vertex Pharmaceuticals Incorporated (VRTX) — MoonshotScore 97/100 (Exceptional band), calculated Oct 4, 2026. Price $504.73 (-0.40%), as of the Oct 2, 2026 trading session; market cap $128B. Expected results Nov 2, 2026.

Educational signal · not a buy or sell recommendation · How to read this

Market value / cash and short-term investments: 16.30× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Nov 2, 2026

$504.73 −$2.01 (-0.40%) Market Cap $128B

Vertex Pharmaceuticals Incorporated · VRTX · NASDAQ · Healthcare · Biotechnology

Research dated 2026-09-12: Vertex is a commercial rare-disease drugmaker whose profits still come overwhelmingly from cystic fibrosis treatments, especially Trikafta and Kaftrio. The case rests on whether medicines such as Alyftrek and Casgevy can broaden that earnings base while preserving the unusually strong economics of the cystic fibrosis franchise.

Price as of Oct 2, 2026

Key Statistics

97 of 100

MoonshotScore v2 · Vertex Pharmaceuticals (VRTX)

Exceptional
Business Quality Elite (96)
Financial Safety Fortress (92)
Valuation Full (44)
Growth Durability Compounding (99)
Momentum Rising (76)
Why this rating? Method, drivers & history

Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.

  • Business Quality — Is this a genuinely good business?
  • Financial Safety — Could this blow up on me?
  • Valuation — Am I paying a fair price?
  • Growth Durability — Is the growth real and likely to last?
  • Momentum — Is the market already moving on this?
The ten-second read ·

Elite quality, a fortress balance sheet and elite growth, with no real weak spot — fairly priced, so not a bargain entry; the market is already moving on it. Business Quality: Elite; Financial Safety: Fortress; Valuation: Full; Growth Durability: Compounding; Momentum: Rising.

  • quarterly revenue $3.33B (Q2 FY2026, quarter ended Jun 2026)
  • EPS beat 4 of 8
  • expected results Nov 2, 2026

Helping: business quality, balance-sheet strength, durable growth, positive momentum

What has the MoonshotScore done over time?

MoonshotScore snapshots recorded for VRTX (29 recorded, newest six shown)
RecordedScoreBand
89Exceptional
97Exceptional
90Exceptional
90Exceptional
97Exceptional
97Exceptional

The score was 97 in the stored Oct 3, 2026 snapshot and remains 97 in the current publication computed Oct 4, 2026 (0); the largest pillar moves were Momentum +1; the pillar moves offset under the sector-relative weighting, so the headline score is unchanged.

Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.

Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →

Price & valuation

Dates shown where recorded
MeasureValueAs of
Latest provided price$504.73
Change on the day-0.40%
52-week range$400.74 – $560.25
Market capitalisation$128B
Price / earnings (trailing)29.09
Shares traded on the day936.6K
Beta (volatility vs the S&P 500)0.32

Price & events

Weekly closing price with reported quarters marked Weekly closing price from Sep 5, 2025 to Oct 2, 2026: low $383, high $548, latest $505. 4 reported quarters marked, 2 above and 2 below the recorded estimate. 1 other dated event marked. $548 $383 high $548 Nov 3, 2025 · Earnings results · reported above the recorded estimate · close $4261Feb 12, 2026 · Earnings results · reported below the recorded estimate · close $4912May 4, 2026 · Earnings results · reported above the recorded estimate · close $4243Aug 3, 2026 · Earnings call · management outlook · no recorded estimate to compare · close $4774Aug 3, 2026 · Earnings results · reported below the recorded estimate · close $4775 Sep 5, 2025 Oct 2, 2026 · $505 $396Sep 5, 2025$383Sep 19, 2025$403Oct 3, 2025$417Oct 17, 2025$426Oct 31, 2025$437Nov 14, 2025$434Nov 28, 2025$452Dec 12, 2025$463Dec 26, 2025$464Jan 9, 2026$468Jan 23, 2026$478Feb 6, 2026$477Feb 20, 2026$457Mar 6, 2026$454Mar 20, 2026$439Apr 2, 2026$441Apr 17, 2026$424May 1, 2026$437May 15, 2026$448May 29, 2026$445Jun 12, 2026$491Jun 26, 2026$485Jul 10, 2026$477Jul 24, 2026$496Aug 7, 2026$548Aug 21, 2026$546Sep 4, 2026$508Sep 18, 2026$505Oct 2, 2026

Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.

Events behind the price

  • · Earnings results · above the recorded estimate
  • · Earnings results · below the recorded estimate
  • · Earnings results · above the recorded estimate
  • · Earnings call · management outlook
  • · Earnings results · below the recorded estimate

Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.

Upcoming events

As of

  1. Next results dueProvider estimate

Management outlook

  • As our new products, particularly CASGEVY, increase in revenue contribution with higher cost of goods sold than our small-molecule CF products, we continue to expect full year gross margin of just under 86%, roughly in line with this quarter's result.

    Charles Wagner · Statement from

  • Given the anticipated timing, we expect the impact to 2026 revenue and non-GAAP operating expenses to be relatively modest, and we will provide updated guidance for 2026 around the time of closing.

    Charles Wagner · Statement from

Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.

Read management statements

Council Score · weighted blend of 2 available disciplines

Council score for Vertex Pharmaceuticals (VRTX): Strongly Bullish

84/100 · A+

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

5-Factor Breakdown

Growth Durability Strong
Momentum Moderate
Business Quality Strong
Financial Safety Strong
Valuation Neutral

Legends Council

6 lenses, 6 current

AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built

Dalio-style lens (simulated) Ray Dalio Favorable read
Griffin-style lens (simulated) Ken Griffin Favorable read
Simons-style lens (simulated) Jim Simons Neutral read
Englander-style lens (simulated) Izzy Englander Favorable read
Klarman-style lens (simulated) Seth Klarman Favorable read
Moon AI lens (model) Favorable read

Read on: Oct 4, 2026

Munger's Mindset

Balance Sheet & Valuation · historical

Financial Health Strong
Margin of Safety Fairly Valued
Profit Margin Strong
Revenue Growth Neutral
Debt/Equity Strong
ROE Strong
Gross Margin Strong

Read on: Sep 10, 2026 · older than the 27 hours refresh window; not a current reading

How to read these bars and different assessments

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.

On Sep 10, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.

Readings on this page are from Oct 5, 2026, except a card that shows its own read date.

Watch the VRTX film — every key number, told as a short cinematic story

~2 min · open the film

1 · What is it?

What is Vertex Pharmaceuticals (VRTX), and what does it report?

Short answer · as of

Vertex discovers, develops and markets therapies aimed at specific disease mechanisms, then reaches patients through specialty pharmacies, distributors, hospitals and clinics.

Research dated 2026-09-12.

Vertex discovers, develops and markets therapies aimed at specific disease mechanisms, then reaches patients through specialty pharmacies, distributors, hospitals and clinics. Its reported revenue measures commercial product sales rather than the scientific breadth of its pipeline, and Trikafta and Kaftrio remain the dominant product line by a wide margin.

This is not a development-stage biotechnology company funded mainly by outside capital. An established cystic fibrosis franchise produces substantial profit and operating cash flow, which in turn finances research across pain, blood disorders, kidney disease, diabetes and other serious conditions.

Sources (as of 2026-09-12): Business description; Revenue by segment; Annual revenue and net result (USD millions); Operating cash flow by quarter (USD millions); Trailing twelve-month ratio set

2 · Latest results

What do the latest results show for Vertex Pharmaceuticals (VRTX)?

Short answer · as of

The most recent reported quarter, Q2 FY2026, carried revenue of $3.33B.

Research dated 2026-09-12.

The latest quarter brought a sharp sequential revenue rebound to the highest level in the reported series. Gross profit, operating income, net income and diluted earnings also increased, while research spending edged higher and selling and administrative expense rose more noticeably. Revenue exceeded the market estimate, although adjusted earnings landed just below it.

Management expects Casgevy and other newer products to carry higher production costs than the small-molecule cystic fibrosis portfolio. That mix shift does not explain the latest revenue increase, but it does explain why expanding beyond cystic fibrosis may add sales without matching the legacy franchise’s gross margin.

Sources (as of 2026-09-12): Quarterly income statement (USD thousands); Reported versus estimated, last 8 quarters; Trailing twelve-month ratio set; Management outlook — dated call excerpts

Where is operating spending going?

Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.

Latest quarter · revenue
$3.33B Jun 30, 2026
Latest quarter · R&D
$993.80M Jun 30, 2026
Latest quarter · SG&A
$582.20M Jun 30, 2026
Latest quarter · FMP standardized operating result
$1.25B Jun 30, 2026
Where is operating spending going? — FMP standardized evidence
Period endRevenueR&DSG&AFMP standardized operating result
Jun 30, 2026$3.33B$993.80M$582.20M$1.25B
Mar 31, 2026$2.99B$961.60M$493.70M$1.14B
Dec 31, 2025$3.23B$973.70M$487.00M$1.30B
Sep 30, 2025$3.08B$1.03B$445.10M$1.19B

USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.

Did results meet expectations?

Reported earnings and revenue alongside the estimates recorded by the provider.

Latest report · revenue
$3.33B Aug 3, 2026
Latest report · revenue estimate
$3.23B Aug 3, 2026
Latest report · revenue vs estimate
Above estimate Aug 3, 2026
Latest report · EPS vs estimate
Below estimate Aug 3, 2026
Did results meet expectations? — reported evidence
Report dateRevenue · reportedRevenue · estimateEPS · reportedEPS · estimate
Aug 3, 2026$3.33B$3.23B$4.7300$4.7400
May 4, 2026$2.99B$2.99B$4.4700$4.2400
Feb 12, 2026$3.19B$3.18B$5.0300$5.1100
Nov 3, 2025$3.08B$3.06B$4.8000$4.5700

Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.

Quarterly income statement — 4 quarters
Revenue, net income and earnings per share by quarter
PeriodRevenueNet incomeEPS
Q2 FY2026$3.33B$1.10B$4.31 (diluted)
Q1 FY2026$2.99B$1.03B$4.02 (diluted)
Q4 FY2025$3.23B$1.19B$4.65 (diluted)
Q3 FY2025$3.08B$1.08B$4.20 (diluted)
3 · Financial strengths and risks

What are the financial strengths and risks for Vertex Pharmaceuticals (VRTX)?

Short answer

Cash and short-term investments were $7.85B at the Jun 30, 2026 balance-sheet date. Operating cash flow was $1.13B for the quarter ended Jun 30, 2026, meaning operations generated cash. These figures do not establish a cash runway.

Research dated 2026-09-12.

Vertex combines high gross and operating margins with positive operating cash flow across every quarter shown. Cash and investments stand far above total debt, and the short-term liquidity balance has climbed through the latest reporting periods, leaving ample capacity for research, commercialization and strategic transactions.

The financial vulnerability is product concentration rather than funding pressure. If cystic fibrosis growth weakens before newer medicines become material, heavy research and commercial spending would bear on a narrower growth engine; rising Casgevy contribution could also dilute gross margin because its production economics are less favorable. The valuation already reflects substantial profitability, so weaker execution would matter even without balance-sheet stress.

Sources (as of 2026-09-12): Operating cash flow by quarter (USD millions); Cash, investments and debt; Cash and investment components; Cash and short-term investments over time (USD millions); Cash against market value; Trailing twelve-month ratio set; Revenue by segment; Management outlook — dated call excerpts

How much cash does the business generate or use?

Quarterly operating cash flow shows cash generated or used by operations.

Latest quarter · operating cash flow
$1.13B Jun 30, 2026
Previous quarter · operating cash flow
$1.43B Mar 31, 2026
How much cash does the business generate or use? — reported evidence
Period endOperating cash flowCapital expenditure (reported)
Jun 30, 2026$1.13B−$112.20M
Mar 31, 2026$1.43B−$133.40M
Dec 31, 2025$498.00M−$149.40M
Sep 30, 2025$1.24B−$101.80M

Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.

USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.

4 · What to check next?

What should you watch next at Vertex Pharmaceuticals (VRTX)?

Short answer · as of

The next earnings report is expected on Nov 2, 2026.

Research dated 2026-09-12.

Watch whether overall product revenue keeps advancing as Alyftrek expands and Casgevy contributes more, rather than treating pipeline breadth as proof of commercial diversification. The next earnings release should also be tested against management’s expectation for gross margin near its recent level and operating expense near the upper end of guidance.

Cash conversion deserves equal attention: operating cash flow has remained strong but variable from period to period. Updated guidance around the announced transaction’s closing, along with the next periodic filing, should clarify whether the deal changes near-term revenue or expense expectations beyond the modest impact management currently anticipates.

Sources (as of 2026-09-12): Revenue by segment; Next earnings report; Analyst revenue and earnings estimates (average); Operating cash flow by quarter (USD millions); Management outlook — dated call excerpts; Recent SEC filings; Most recent periodic reports

What management is planning

Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.

  1. As our new products, particularly CASGEVY, increase in revenue contribution with higher cost of goods sold than our small-molecule CF products, we continue to expect full year gross margin of just under 86%, roughly in line with this quarter's result.

    Charles Wagner ·

  2. Given the anticipated timing, we expect the impact to 2026 revenue and non-GAAP operating expenses to be relatively modest, and we will provide updated guidance for 2026 around the time of closing.

    Charles Wagner ·

  3. As I previously mentioned, we continue to expect full year gross margin of just under 86%. On operating expenses, we are reiterating our combined non-GAAP operating expense guidance of $5.65 billion to $5.75 billion, though we now expect to be at the high end of that range.

    Charles Wagner ·

  4. We continue to expect our non-GAAP effective tax rate to be in the range of 19.5% to 20.5% for the full year 2026.

    Charles Wagner ·

5 · Peer comparison

How does Vertex Pharmaceuticals compare with its peers?

Short answer

Vertex Pharmaceuticals's score ranks tied for 3rd of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.

Research dated 2026-09-12.

Vertex differs from many biotechnology peers because approved rare-disease medicines already support strong margins, durable cash generation and a net cash position large enough to fund an ambitious pipeline internally. It is therefore better understood as a profitable cystic fibrosis incumbent pursuing therapeutic expansion than as a collection of clinical-stage projects.

That maturity comes with an unusual concentration tradeoff. Trikafta and Kaftrio dominate revenue, while diversification through products such as Alyftrek and Casgevy introduces different commercial and manufacturing economics. Comparable drug developers may offer broader revenue mixes or greater pipeline dependence; Vertex couples financial resilience with a particularly concentrated commercial foundation.

Sources (as of 2026-09-12): Business description; Revenue by segment; Annual revenue and net result (USD millions); Operating cash flow by quarter (USD millions); Cash, investments and debt; Cash against market value; Trailing twelve-month ratio set; Management outlook — dated call excerpts

Peer set — price, market value and MoonshotScore
CompanyPriceMarket valueScore
Incyte Corporation (INCY) Same industry, near in market value$115.30 Oct 2, 2026$23.4B98 5-pillar Oct 4, 2026
Exelixis, Inc. (EXEL) Same industry, near in market value$58.39 Oct 2, 2026$14.7B98 5-pillar Oct 4, 2026
Vertex Pharmaceuticals (VRTX) — this page$504.73$128B97
argenx SE (ARGX) Same industry, near in market value$919.21 Oct 2, 2026$57.2B97 5-pillar Oct 4, 2026
United Therapeutics Corporation (UTHR) Same industry, near in market value$541.70 Oct 2, 2026$23.0B97 5-pillar Oct 4, 2026
Regeneron Pharmaceuticals, Inc. (REGN) Same industry, near in market value$735.20 Oct 2, 2026$75.7B94 5-pillar Oct 4, 2026
Bristol-Myers Squibb Company (BMY) Named competitor$61.15 Oct 2, 2026$125B91 5-pillar Oct 4, 2026
Novo Nordisk A/S (NVO) Same industry, near in market value$37.32 Oct 2, 2026$166B91 5-pillar Oct 4, 2026
Neurocrine Biosciences, Inc. (NBIX) Same industry, near in market value$143.18 Oct 2, 2026$14.4B90 5-pillar Oct 4, 2026
Alnylam Pharmaceuticals, Inc. (ALNY) Same industry, near in market value$219.72 Oct 2, 2026$29.4B89 5-pillar Oct 4, 2026
GSK plc (GSK) Named competitor$47.03 Oct 2, 2026$94.2B88 5-pillar Oct 4, 2026
Ascendis Pharma A/S (ASND) Same industry, near in market value$227.87 Oct 2, 2026$14.2B88 5-pillar Oct 4, 2026
Sanofi (SNY) Named competitor$39.92 Oct 2, 2026$95.9B83 5-pillar Oct 4, 2026

Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.

Screen more Healthcare stocks

The records behind this page

Analyst targets & estimates

What analysts have on file

Price target, low to high
$350.00 – $665.00
Consensus target
$573.07
Median target
$601.50

Consensus record · Captured .

Measured against a quoted price of $504.73 (as of Oct 2, 2026).

Insider activity

Form 4 records via FMP · Of the newest 60 records, those within the last 180 days, newest dated Sep 8, 2026

Transactions
43
Identified insiders
17
Purchases
0
Sales
13
Other transactions
30

Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.

Who holds the shares?

Institutional ownership reported through 13F filings.

Institutional ownership
95.8% Period end Jun 30, 2026
Previous quarter · ownership
92.6% Prior to period end Jun 30, 2026
Reporting holders
1,823 Period end Jun 30, 2026
Previous quarter · holders
1,764 Prior to period end Jun 30, 2026
Who holds the shares? — reported evidence
Holders in provider snapshotShares
Capital World Investors26,115,014
Blackrock, INC.24,109,373
Capital Research Global Investors19,490,637
Vanguard Capital Management LLC16,580,713
State Street Corp11,871,459

Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.

What has been published about Vertex Pharmaceuticals (VRTX)?

Read these with our analysis →

Common Questions About VRTX (Healthcare)

Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 3 questions are answered from this page's own dated data, not from the research.

Why do Trikafta and Kaftrio matter so much to Vertex?

They account for the great majority of reported product revenue, making cystic fibrosis demand the main driver of current business performance. Alyftrek and other products are broadening the portfolio, but they have not displaced that dependence.

Sources (as of 2026-09-12): Business description; Revenue by segment

How could Casgevy change Vertex’s margin profile?

Casgevy carries higher production costs than Vertex’s small-molecule cystic fibrosis drugs. Greater contribution would diversify revenue while putting downward pressure on the blended gross margin unless offset elsewhere.

Sources (as of 2026-09-12): Management outlook — dated call excerpts; Trailing twelve-month ratio set; Revenue by segment

What role does Alyftrek play beside Trikafta and Kaftrio?

Alyftrek is reported as a distinct and meaningful product line, but it remains far smaller than Trikafta and Kaftrio. Its progress matters because it can extend Vertex’s cystic fibrosis franchise even as the company pursues diversification beyond that disease.

Sources (as of 2026-09-12): Revenue by segment; Business description

Can Vertex fund Casgevy and its broader pipeline without new borrowing?

Current finances provide substantial internal capacity: operating cash flow has stayed positive, while cash and investments comfortably exceed debt. Research spending remains heavy, but the balance sheet does not presently make borrowing the necessary source of pipeline funding.

Sources (as of 2026-09-12): Operating cash flow by quarter (USD millions); Cash, investments and debt; Cash and investment components; Annual revenue and net result (USD millions); Quarterly income statement (USD thousands)

What is the VRTX stock price today?

The last price recorded on this page for Vertex Pharmaceuticals Incorporated (VRTX) is $504.73, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.

What is the VRTX price target?

The analyst consensus price target for Vertex Pharmaceuticals Incorporated (VRTX) is $573.07 (range $350.00 to $665.00, median $601.50), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.

When are VRTX's next earnings?

The next earnings date listed on this page for Vertex Pharmaceuticals Incorporated (VRTX) is Nov 2, 2026. Companies sometimes move report dates, so the company's own announcement is the final word on timing.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.

Sources (as of 2026-09-12): Business description; Revenue by segment; Annual revenue and net result (USD millions); Trailing twelve-month ratio set; Management outlook — dated call excerpts

Sources — records for every figure on this page (82 figures)

The 82 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.

"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.

OFFICIAL — 2 facts from SEC filings and earnings calls

OFFICIAL facts used on this page
Fact IDFactValue as shownAs ofTierSource
prod.outlookManagement outlook — call excerptsCharles Wagner (Aug 3, 2026): As our new products, particularly CASGEVY, increase in revenue contribution with higher cost of goods sold than our small-molecule CF products, we continue to expect full year gross margin of just under 86%, roughly in line with this quarter's result. Charles Wagner (Aug 3, 2026): Given the anticipated timing, we expect the impact to 2026 revenue and non-GAAP operating expenses to be relatively modest, and we will provide updated guidance for 2026 around the time of closing. Charles Wagner (Aug 3, 2026): As I previously mentioned, we continue to expect full year gross margin of just under 86%. On operating expenses, we are reiterating our combined non-GAAP operating expense guidance of $5.65 billion to $5.75 billion, though we now expect to be at the high end of that range. Charles Wagner (Aug 3, 2026): We continue to expect our non-GAAP effective tax rate to be in the range of 19.5% to 20.5% for the full year 2026.OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.
id.hqSEC filing business addressBoston, MAOFFICIALSEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "50 Northern Avenue, Boston, MA, 02210, US".

FMP — 72 facts from Financial Modeling Prep endpoint families

FMP facts used on this page
Fact IDFactValue as shownAs ofTierSource
px.lastLatest provided price$504.73FMPFinancial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T12:44:19.738Z.
px.changeChange on the day-0.40%FMPFinancial Modeling Prep (FMP) · quote
px.mcapMarket capitalisation$128BFMPFinancial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:00.000Z. Captured from FMP at 2026-10-04T12:44:18.025Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares.
px.change_absChange on the day, in dollars−$2.01FMPFinancial Modeling Prep (FMP) · quote
fin.q_revenueRevenue, Q2 FY2026$3.33BFMPFinancial Modeling Prep (FMP) · income statement (quarterly)
px.pePrice / earnings (trailing)29.09FMPFinancial Modeling Prep (FMP) · quote
px.volumeShares traded on the day936.6KFMPFinancial Modeling Prep (FMP) · quote
px.betaBeta0.32FMPFinancial Modeling Prep (FMP) company profile
id.ceoChief executiveReshma KewalramaniFMPFinancial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it.
id.employeesEmployees6,400FMPFinancial Modeling Prep (FMP) employee count, from the company's filing
fin.annualRevenue and net result by fiscal year5 fiscal years, FY2021 through FY2025: FY2021 revenue $7.57B, net result $2.34B; FY2022 revenue $8.93B, net result $3.32B; FY2023 revenue $9.87B, net result $3.62B; FY2024 revenue $11.02B, net result −$535.60M; FY2025 revenue $12.07B, net result $3.95BFMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
fin.rev_mixReported revenue segmentsALYFTREK $837.80M · TRIKAFTA/KAFTRIO $10.31B · Manufactured Product, Other $820.10MFMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
fin.gross_marginGross margin (trailing twelve months)86.0%FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.q_table.depth.2026-06-30.revenue_kRevenue — period end 2026-06-30$3.33BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.rd_kR&D — period end 2026-06-30$993.80MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.sga_kSG&A — period end 2026-06-30$582.20MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.operating_result_kFMP standardized operating result — period end 2026-06-30$1.25BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.revenue_kRevenue — period end 2026-03-31$2.99BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.rd_kR&D — period end 2026-03-31$961.60MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.sga_kSG&A — period end 2026-03-31$493.70MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.operating_result_kFMP standardized operating result — period end 2026-03-31$1.14BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.revenue_kRevenue — period end 2025-12-31$3.23BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.rd_kR&D — period end 2025-12-31$973.70MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.sga_kSG&A — period end 2025-12-31$487.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.operating_result_kFMP standardized operating result — period end 2025-12-31$1.30BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.revenue_kRevenue — period end 2025-09-30$3.08BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.rd_kR&D — period end 2025-09-30$1.03BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.sga_kSG&A — period end 2025-09-30$445.10MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.operating_result_kFMP standardized operating result — period end 2025-09-30$1.19BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
earn.history.depth.2026-08-03.revenue_actualRevenue · reported — report date 2026-08-03$3.33BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-03.revenue_estimatedRevenue · estimate — report date 2026-08-03$3.23BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-03.eps_actualEPS · reported — report date 2026-08-03$4.7300Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-03.eps_estimatedEPS · estimate — report date 2026-08-03$4.7400Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-04.revenue_actualRevenue · reported — report date 2026-05-04$2.99BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-04.revenue_estimatedRevenue · estimate — report date 2026-05-04$2.99BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-04.eps_actualEPS · reported — report date 2026-05-04$4.4700Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-04.eps_estimatedEPS · estimate — report date 2026-05-04$4.2400Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-12.revenue_actualRevenue · reported — report date 2026-02-12$3.19BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-12.revenue_estimatedRevenue · estimate — report date 2026-02-12$3.18BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-12.eps_actualEPS · reported — report date 2026-02-12$5.0300Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-12.eps_estimatedEPS · estimate — report date 2026-02-12$5.1100Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-03.revenue_actualRevenue · reported — report date 2025-11-03$3.08BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-03.revenue_estimatedRevenue · estimate — report date 2025-11-03$3.06BReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-03.eps_actualEPS · reported — report date 2025-11-03$4.8000Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-11-03.eps_estimatedEPS · estimate — report date 2025-11-03$4.5700Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
fin.q_tableQuarterly income statement4 quarters through Q2 FY2026FMPFinancial Modeling Prep (FMP) · income statement (quarterly), as filed
fin.cash_investmentsCash and short-term investments$7.85BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review.
fin.opcf_latestLatest-quarter operating cash flow$1.13BFMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate.
fin.long_term_investmentsLong-term investments (classification unverified)$5.79BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.total_debtTotal debt$1.98BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.price_to_bookPrice to book value6.33×FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.opcf.depth.2026-06-30.operating_cash_flow_mOperating cash flow — period end 2026-06-30$1.13BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.operating_cash_flow_mOperating cash flow — period end 2026-03-31$1.43BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-06-30.capex_mCapital expenditure (reported) — period end 2026-06-30−$112.20MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.capex_mCapital expenditure (reported) — period end 2026-03-31−$133.40MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.operating_cash_flow_mOperating cash flow — period end 2025-12-31$498.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.capex_mCapital expenditure (reported) — period end 2025-12-31−$149.40MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.operating_cash_flow_mOperating cash flow — period end 2025-09-30$1.24BPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.capex_mCapital expenditure (reported) — period end 2025-09-30−$101.80MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
earn.pt_rangeAnalyst price target, low to high$350.00 – $665.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_consensusConsensus analyst price target$573.07FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_medianMedian analyst price target$601.50FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
own.insidersInsider transactions via FMP43 transactions · 0 purchases, 13 sales, 30 other transactions · 17 identified insiders · of the newest 60 records, those within the last 180 days, newest dated Sep 8, 2026FMPFinancial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
own.institutions.depth.ownership_pctInstitutional ownership95.8%FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.ownership_pct_previous_quarterPrevious quarter · ownership92.6%FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.institutions.depth.holdersReporting holders1,823FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.holders_previous_quarterPrevious quarter · holders1,764FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.top_holders.depth.holder_0.sharesCapital World Investors — shares in provider snapshot26,115,014FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_1.sharesBlackrock, INC. — shares in provider snapshot24,109,373FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_2.sharesCapital Research Global Investors — shares in provider snapshot19,490,637FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_3.sharesVanguard Capital Management LLC — shares in provider snapshot16,580,713FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_4.sharesState Street Corp — shares in provider snapshot11,871,459FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.

UNRECORDED — 3 facts from stored observations whose source was not recorded

UNRECORDED facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.nextNext earnings dateNov 2, 2026UNRECORDEDStored earnings-calendar observation — Captured 2026-09-30
earn.historyReported versus estimated, recent quartersEPS beat 4 of 8UNRECORDEDStored earnings-history observation — Captured 2026-10-01 · Expired observation
px.range5252-week range$400.74 – $560.25UNRECORDEDStored company-profile observation — Captured 2026-10-03

COMPUTED — 3 facts from our arithmetic, formula restated

COMPUTED facts used on this page
Fact IDFactValue as shownAs ofTierSource
fin.mcap_to_cashMarket value per dollar of cash and short-term investments16.30×—COMPUTEDComputed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $7.85B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio.
earn.history.depth.2026-08-03.revenue_actual.comparisonLatest report · revenue vs estimateAbove estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($3.33B) with the recorded estimate ($3.23B) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.
earn.history.depth.2026-08-03.eps_actual.comparisonLatest report · EPS vs estimateBelow estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS ($4.7300) with the recorded estimate ($4.7400) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.

OURS — 2 facts from Stock Expert AI's own score and rank

OURS facts used on this page
Fact IDFactValue as shownAs ofTierSource
ours.moonshotMoonshotScore v297 of 100 · Exceptional · pillars 96 / 92 / 44 / 99 / 76OURSStock Expert AI MoonshotScore v2 engine
ours.moonshot_changeMoonshotScore movement97 (stored snapshot Oct 3, 2026) → 97 (current publication computed Oct 4, 2026) (0)OURSStock Expert AI current score publication and immutable score snapshots

Fact-family notes

  1. Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs: fin.q_table.depth.2026-06-30.revenue_k, fin.q_table.depth.2026-06-30.rd_k, fin.q_table.depth.2026-06-30.sga_k, fin.q_table.depth.2026-06-30.operating_result_k, fin.q_table.depth.2026-03-31.revenue_k, fin.q_table.depth.2026-03-31.rd_k, fin.q_table.depth.2026-03-31.sga_k, fin.q_table.depth.2026-03-31.operating_result_k, fin.q_table.depth.2025-12-31.revenue_k, fin.q_table.depth.2025-12-31.rd_k, fin.q_table.depth.2025-12-31.sga_k, fin.q_table.depth.2025-12-31.operating_result_k, fin.q_table.depth.2025-09-30.revenue_k, fin.q_table.depth.2025-09-30.rd_k, fin.q_table.depth.2025-09-30.sga_k, fin.q_table.depth.2025-09-30.operating_result_k.
  2. Earnings-history note. Source series as of 2026-08-03. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs: earn.history.depth.2026-08-03.revenue_actual, earn.history.depth.2026-08-03.revenue_estimated, earn.history.depth.2026-08-03.revenue_actual.comparison, earn.history.depth.2026-08-03.eps_actual.comparison, earn.history.depth.2026-08-03.eps_actual, earn.history.depth.2026-08-03.eps_estimated, earn.history.depth.2026-05-04.revenue_actual, earn.history.depth.2026-05-04.revenue_estimated, earn.history.depth.2026-05-04.eps_actual, earn.history.depth.2026-05-04.eps_estimated, earn.history.depth.2026-02-12.revenue_actual, earn.history.depth.2026-02-12.revenue_estimated, earn.history.depth.2026-02-12.eps_actual, earn.history.depth.2026-02-12.eps_estimated, earn.history.depth.2025-11-03.revenue_actual, earn.history.depth.2025-11-03.revenue_estimated, earn.history.depth.2025-11-03.eps_actual, earn.history.depth.2025-11-03.eps_estimated.
  3. Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs: fin.opcf.depth.2026-06-30.operating_cash_flow_m, fin.opcf.depth.2026-03-31.operating_cash_flow_m, fin.opcf.depth.2026-06-30.capex_m, fin.opcf.depth.2026-03-31.capex_m, fin.opcf.depth.2025-12-31.operating_cash_flow_m, fin.opcf.depth.2025-12-31.capex_m, fin.opcf.depth.2025-09-30.operating_cash_flow_m, fin.opcf.depth.2025-09-30.capex_m.
Published
Research standards
Methodology · Editorial policy · Corrections

Sources used for research written 2026-09-12

Historical evidence preserved with this analysis. Current figures are listed separately above.

EvidenceCaptured valueSource dateSource typeSource
Business description
Vertex Pharmaceuticals Incorporated is a leading biotechnology firm primarily focused on the discovery, advancement, and marketing of innovative treatments, particularly for cystic fibrosis (CF). The company offers a range of approved medications for CF patients, including SYMDEKO/SYMKEVI, ORKAMBI, and KALYDECO, which target specific mutations within the cystic fibrosis transmembrane conductance regulator gene. Additionally, they provide TRIKAFTA for individuals with CF aged six years and older who possess at least one F508del mutation. Beyond its established CF therapies, Vertex maintains a robust and diverse clinical pipeline. This includes VX-864, currently in Phase 2 for alpha-1 antitrypsin (AAT) deficiency; VX-147, also in Phase 2, addressing APOL1-mediated focal segmental glomerulosclerosis (FSGS) and other serious kidney conditions; VX-880, a potential treatment for Type 1 Diabetes undergoing Phase 1/2 trials; VX-548, a NaV1.8 inhibitor in Phase 2 for various forms of acute, neuropathic, and musculoskeletal pain; and CTX001, which is in Phase 3 development for severe sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT). The company distributes its pharmaceutical products through specialty pharmacies and distributors across the United States, while international sales are facilitated via a network of specialty distributors, retail chains, hospitals, and clinics. Vertex also engages in numerous strategic collaborations with partners such as Affinia Therapeutics, Arbor Biotechnologies, CRISPR Therapeutics, Kymera Therapeutics, Mammoth Biosciences, Moderna, Obsidian Therapeutics, Skyhawk Therapeutics, Ribometrix, Genomics plc, Merck KGaA, and X-Chem. Established in 1989, Vertex Pharmaceuticals is headquartered in Boston, Massachusetts.
2026-09-12FMPFinancial Modeling Prep (FMP) company profile
Revenue by segment
ALYFTREK: $837.80M; TRIKAFTA/KAFTRIO: $10.31B; Manufactured Product, Other: $820.10M
2025-12-31FMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
Annual revenue and net result (USD millions)
Captured record · 5 entries
  • FY2025 — R&D: $3.75B, Revenue: $12.07B, Period end: 2025-12-31, Net result: $3.95B
  • FY2024 — R&D: $3.63B, Revenue: $11.02B, Period end: 2024-12-31, Net result: -$535.60M
  • FY2023 — R&D: $3.16B, Revenue: $9.87B, Period end: 2023-12-31, Net result: $3.62B
  • FY2022 — R&D: $2.66B, Revenue: $8.93B, Period end: 2022-12-31, Net result: $3.32B
  • FY2021 — R&D: $3.05B, Revenue: $7.57B, Period end: 2021-12-31, Net result: $2.34B
2025-12-31FMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
Trailing twelve-month ratio set
Quick ratio: 2.74; Current ratio: 3.19; Debt to equity: 0.1; Net margin: 34.9%; Gross margin: 86%; Operating margin: 38.6%; Return on assets: 16.1%; Return on equity: 23.3%

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero.

2026-09-12FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm
Management outlook — dated call excerpts
Captured record · 4 entries
  • Call of 2026-08-03 — Quote: As our new products, particularly CASGEVY, increase in revenue contribution with higher cost of goods sold than our small-molecule CF products, we continue to expect full year gross margin of just under 86%, roughly in line with this quarter's result., Speaker: Charles Wagner
  • Call of 2026-08-03 — Quote: Given the anticipated timing, we expect the impact to 2026 revenue and non-GAAP operating expenses to be relatively modest, and we will provide updated guidance for 2026 around the time of closing., Speaker: Charles Wagner
  • Call of 2026-08-03 — Quote: As I previously mentioned, we continue to expect full year gross margin of just under 86%. On operating expenses, we are reiterating our combined non-GAAP operating expense guidance of $5.65 billion to $5.75 billion, though we now expect to be at the high end of that range., Speaker: Charles Wagner
  • Call of 2026-08-03 — Quote: We continue to expect our non-GAAP effective tax rate to be in the range of 19.5% to 20.5% for the full year 2026., Speaker: Charles Wagner

Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.

2026-08-03OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP)
Operating cash flow by quarter (USD millions)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — Capital expenditure: -$112.20M, Operating cash flow: $1.13B
  • Quarter ended 2026-03-31 — Capital expenditure: -$133.40M, Operating cash flow: $1.43B
  • Quarter ended 2025-12-31 — Capital expenditure: -$149.40M, Operating cash flow: $498.00M
  • Quarter ended 2025-09-30 — Capital expenditure: -$101.80M, Operating cash flow: $1.24B
  • Quarter ended 2025-06-30 — Capital expenditure: -$145.70M, Operating cash flow: $1.07B
  • Quarter ended 2025-03-31 — Capital expenditure: -$40.70M, Operating cash flow: $818.90M
  • Quarter ended 2024-12-31 — Capital expenditure: -$92.60M, Operating cash flow: $584.60M
  • Quarter ended 2024-09-30 — Capital expenditure: -$67.70M, Operating cash flow: $1.37B
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements
Quarterly income statement (USD thousands)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — EPS: $4.31 per share, R&D: $993.80M, SG&A: $582.20M, EPS basic: $4.33 per share, EPS basis: diluted, Revenue: $3.33B, EPS diluted: $4.31 per share, Net result: $1.10B, Gross profit: $2.84B, Operating result: $1.25B
  • Quarter ended 2026-03-31 — EPS: $4.02 per share, R&D: $961.60M, SG&A: $493.70M, EPS basic: $4.06 per share, EPS basis: diluted, Revenue: $2.99B, EPS diluted: $4.02 per share, Net result: $1.03B, Gross profit: $2.59B, Operating result: $1.14B
  • Quarter ended 2025-12-31 — EPS: $4.65 per share, R&D: $973.70M, SG&A: $487.00M, EPS basic: $4.69 per share, EPS basis: diluted, Revenue: $3.23B, EPS diluted: $4.65 per share, Net result: $1.19B, Gross profit: $2.76B, Operating result: $1.30B
  • Quarter ended 2025-09-30 — EPS: $4.2 per share, R&D: $1.03B, SG&A: $445.10M, EPS basic: $4.24 per share, EPS basis: diluted, Revenue: $3.08B, EPS diluted: $4.2 per share, Net result: $1.08B, Gross profit: $2.66B, Operating result: $1.19B
  • Quarter ended 2025-06-30 — EPS: $3.99 per share, R&D: $978.40M, SG&A: $424.60M, EPS basic: $4.02 per share, EPS basis: diluted, Revenue: $2.96B, EPS diluted: $3.99 per share, Net result: $1.03B, Gross profit: $2.56B, Operating result: $1.15B
  • Quarter ended 2025-03-31 — EPS: $2.49 per share, R&D: $979.70M, SG&A: $396.40M, EPS basic: $2.52 per share, EPS basis: diluted, Revenue: $2.77B, EPS diluted: $2.49 per share, Net result: $646.30M, Gross profit: $2.41B, Operating result: $630.10M
  • Quarter ended 2024-12-31 — EPS: $3.5 per share, R&D: $998.70M, SG&A: $377.60M, EPS basic: $3.55 per share, EPS basis: diluted, Revenue: $2.91B, EPS diluted: $3.5 per share, Net result: $913.00M, Gross profit: $2.49B, Operating result: $1.03B
  • Quarter ended 2024-09-30 — EPS: $4.01 per share, R&D: $875.90M, SG&A: $371.80M, EPS basic: $4.05 per share, EPS basis: diluted, Revenue: $2.77B, EPS diluted: $4.01 per share, Net result: $1.05B, Gross profit: $2.38B, Operating result: $1.12B
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements
Reported versus estimated, last 8 quarters
Captured record · 8 entries
  • Reported 2026-08-03 — EPS actual: $4.73 per share, EPS estimated: $4.74 per share, Revenue actual: $3.33B, Revenue estimated: $3.23B
  • Reported 2026-05-04 — EPS actual: $4.47 per share, EPS estimated: $4.24 per share, Revenue actual: $2.99B, Revenue estimated: $2.99B
  • Reported 2026-02-12 — EPS actual: $5.03 per share, EPS estimated: $5.11 per share, Revenue actual: $3.19B, Revenue estimated: $3.18B
  • Reported 2025-11-03 — EPS actual: $4.8 per share, EPS estimated: $4.57 per share, Revenue actual: $3.08B, Revenue estimated: $3.06B
  • Reported 2025-08-04 — EPS actual: $4.52 per share, EPS estimated: $4.29 per share, Revenue actual: $2.96B, Revenue estimated: $2.91B
  • Reported 2025-05-05 — EPS actual: $4.06 per share, EPS estimated: $4.25 per share, Revenue actual: $2.77B, Revenue estimated: $2.86B
  • Reported 2025-02-10 — EPS actual: $3.98 per share, EPS estimated: $4.02 per share, Revenue actual: $2.91B, Revenue estimated: $2.78B
  • Reported 2024-11-04 — EPS actual: $4.38 per share, EPS estimated: $4.14 per share, Revenue actual: $2.77B, Revenue estimated: $2.69B
2026-08-03FMPFinancial Modeling Prep (FMP) earnings
Cash, investments and debt
Total debt: $1.98B; Liquidity basis: cash and short-term investments; Total liabilities: $7.18B; Cash and short-term investments: $7.85B; Cash and investments: $13.64B; Long-term investments: $5.79B; Long-term investments classification: unclassified

Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.

2026-06-30FMPFinancial Modeling Prep (FMP), from the company's balance sheet
Cash and investment components
Total basis: cash short and long-term investments; Total: $13.64B; Cash and short-term investments: $7.85B; Long-term investments: $5.79B; Long-term investments classification: unclassified

Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures.

2026-06-30COMPUTEDComputed from the balance sheet
Cash and short-term investments over time (USD millions)
Captured record · 8 entries
  • 2026-06-30 — Amount: $7.85B, Cash basis: cash and short-term investments
  • 2026-03-31 — Amount: $7.25B, Cash basis: cash and short-term investments
  • 2025-12-31 — Amount: $6.61B, Cash basis: cash and short-term investments
  • 2025-09-30 — Amount: $6.29B, Cash basis: cash and short-term investments
  • 2025-06-30 — Amount: $6.38B, Cash basis: cash and short-term investments
  • 2025-03-31 — Amount: $6.20B, Cash basis: cash and short-term investments
  • 2024-12-31 — Amount: $6.12B, Cash basis: cash and short-term investments
  • 2024-09-30 — Amount: $6.52B, Cash basis: cash and short-term investments
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's quarterly balance sheets
Cash against market value
As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: $5.87B; Total debt: $1.98B; Cash and investments: $7.85B

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them.

2026-06-30COMPUTEDComputed from the balance sheet and the latest market capitalization
Next earnings report
Date: 2026-11-02; EPS estimate: $4.77 per share; Revenue estimate: $3.41B

The date is our provider's estimate until the company confirms it.

2026-09-12FMPFinancial Modeling Prep (FMP) earnings calendar
Analyst revenue and earnings estimates (average)
Captured record · 4 entries
  • FY2027 — EPS average: $21.15 per share, Revenue average: $14.60B, Revenue low: $13.87B, Revenue high: $16.18B, Analysts (revenue): 12
  • FY2028 — EPS average: $25.27 per share, Revenue average: $16.41B, Revenue low: $15.20B, Revenue high: $17.66B, Analysts (revenue): 11
  • FY2029 — EPS average: $30.21 per share, Revenue average: $18.44B, Revenue low: $17.80B, Revenue high: $19.30B, Analysts (revenue): 5
  • FY2030 — EPS average: $34.1 per share, Revenue average: $20.19B, Revenue low: $19.49B, Revenue high: $21.14B, Analysts (revenue): 5
2026-09-12FMPFinancial Modeling Prep (FMP) analyst estimates
Recent SEC filings2026-09-01OFFICIALSEC EDGAR filer submissions
Most recent periodic reports
Annual: Document: https://www.sec.gov/Archives/edgar/data/875320/000087532026000056/vrtx-20251231.htm, Filed: 2026-02-13, Period end: 2025-12-31; Quarterly: Document: https://www.sec.gov/Archives/edgar/data/875320/000087532026000259/vrtx-20260630.htm, Filed: 2026-08-04, Period end: 2026-06-30
2026-08-04OFFICIALSEC EDGAR filer submissions
Data Sources & Methodology
Figures come from Financial Modeling Prep (FMP). If FMP has no figure for a ticker, a price or fundamental may come from a Yahoo Finance fallback, or a price from an Alpaca fallback. SEC EDGAR is used only for filing links and company identity details (legal name, address), never for figures. AI analysis by Stock Expert AI proprietary algorithms. Technical indicators via industry-standard calculations. Last updated: .
Data Provenance
Sources: Financial Modeling Prep (FMP) — Primary · Yahoo Finance — Fallback · Alpaca — Tertiary
Last fetched:
Cache TTL: Quote 5min · Profile 7d · Financials 7d · Insider 48h
How we use AI: Numbers are pulled directly from FMP & Yahoo Finance — our AI writes the analysis, it never edits the figures.
Data provided as-is for educational purposes. Not financial advice. Methodology

Data provided for informational purposes only.

ETFs that hold VRTX

Funds in our ETF coverage that list VRTX among the top 10 holdings on their fund page, largest weight first. Each weight is the fund's reported holding weight as of the date in its row.

ETFWeightHoldings as of
iShares Evolved U.S. Innovative Healthcare ETF (IEIH)5.13%
Natixis Loomis Sayles Focused Growth ETF (LSGR)4.85%
Global X - Genomics & Biotechnology ETF (GNOM)4.32%
ClearBridge All Cap Growth ESG ETF (CACG)3.10%
PRMR ETF2.09%
One Global ETF (FFND)1.74%