Common-Size Income Statement
Quarterly Data
Paying user area
Try for free
Vertex Pharmaceuticals Inc. pages available for free this week:
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Vertex Pharmaceuticals Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Vertex Pharmaceuticals Inc., common-size consolidated income statement (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Revenue Composition and Trends
- The company's revenue consistently comprises nearly 100% product revenues across all observed quarters, indicating a strong reliance on its core product sales. Other revenues are marginal, appearing sporadically and contributing less than 1%. Total revenues remain stable at 100% each quarter, reflecting a focus on steady sales performance without diversification into other revenue streams.
- Cost of Sales and Gross Profit
- Cost of sales fluctuates moderately between approximately 10.7% and 14.6% of revenues but shows a general upward trend in recent quarters, reflecting increased costs relative to revenue. Consequently, gross profit margins demonstrate a subtle decline, ranging from about 89.3% down to a low near 85.4% in certain quarters, signaling pressure on profitability at the gross level.
- Research and Development Expenses
- Research and development expenses represent a significant and volatile portion of revenues, ranging mostly between 23.5% and 36.5%. The data indicate recurring increases in R&D spending as a percentage of revenues, particularly notable in mid-to-late 2023 and 2024 quarters. This likely reflects intensified investment in innovation or development activities, which could impact short-term earnings but potentially support future growth.
- Acquired In-Process Research and Development Expenses
- This expense category exhibits high variability, with sporadic spikes such as an anomalously high 168% in one quarter, indicating irregular acquisition-related charges. These irregular amounts introduce significant volatility to overall R&D expenses and operating results, suggesting occasional strategic acquisitions or write-offs in certain periods.
- Selling, General and Administrative Expenses
- SG&A expenses tend to fluctuate modestly between roughly 9.8% and 14.7% of revenues. While slightly increasing in some recent quarters, this category remains a controlled portion of expenses without sharp increases, indicating relatively consistent spending on commercial and administrative functions.
- Intangible Asset Impairment Charges
- A notable intangible asset impairment charge appears in a single quarter at approximately 13.7% of revenues. This nonrecurring item would have caused a significant one-time impact on profitability during that period, reflecting a reassessment of asset values.
- Change in Fair Value of Contingent Consideration
- Variations in this item are minor and irregular, typically close to zero with occasional small positive or negative values, except for a few quarters with elevated figures (above 2%). These fluctuations indicate sporadic adjustments related to contingent liabilities or acquisition considerations that occasionally affect financial outcomes.
- Income (Loss) from Operations
- Operating income as a percentage of revenues generally remains strong, mostly ranging from around 32.8% to above 53% in various quarters. However, one quarter reports a significant negative 132.9%, linked to extraordinary charges or losses. Aside from this outlier, operating margin stability suggests relatively efficient core operations despite increased expense pressures.
- Interest Income and Expense
- Interest income shows an increasing trend over time, rising from below 1% up to around 7% in later quarters, which may indicate higher returns from investments or cash holdings. Interest expense consistently falls below 1% of revenues and shows a gradual decline, suggesting effective management of debt costs or reduced borrowings.
- Other Income (Expense), Net
- This category varies widely, displaying both positive and negative values across quarters, without a clear trend. The irregular nature points to miscellaneous gains or losses that have a limited but occasionally noticeable impact on overall profitability.
- Income Before Taxes and Tax Provision
- Pre-tax income mostly follows the pattern of operating income with robust positive margins, except for a major loss in one quarter. The provision for income taxes fluctuates, mostly representing deductions around 3% to 11% of revenues with some quarters showing tax benefits, reflecting variability in taxable income or tax management strategies.
- Net Income
- Net income margins generally remain strong, fluctuating between approximately 23.3% and 54.9% of revenues in most quarters. Excluding a quarter with a sharp negative net margin close to -136%, earnings demonstrate good profitability. The net margin variability reflects the influence of fluctuating R&D expenses, impairment charges, and other irregular items on the bottom line.