Common-Size Income Statement
Quarterly Data
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- Income Statement
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
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Vertex Pharmaceuticals Inc., common-size consolidated income statement (quarterly data)
Based on: 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
- Product revenues consistently accounted for nearly all revenues throughout the periods, generally staying around 100% with minor fluctuations. Other revenues remained minimal, occasionally showing slight increases, especially towards later periods where a small rise to 0.7% was noted.
- Cost of Sales
- Cost of sales as a percentage of revenues fluctuated modestly, ranging roughly between -10.7% and -14.6%. There was a gradual increase in cost of sales starting around late 2022 into 2024, indicating somewhat higher production or acquisition costs relative to revenues.
- Gross Profit
- Gross profit margins generally hovered in the high 80% range, with occasional dips below 86% especially in late 2023 and 2024. Despite fluctuations in costs, gross profit remained a strong component of revenues, though there was a slight downward trend in 2023 and 2024.
- Research and Development Expenses
- R&D expenses demonstrated notable variability, generally within the range of approximately -23.5% to -36.5%. Significant spikes occurred in mid-2024, suggesting increased investment or restructuring in this area. Occasionally, acquired in-process research and development expenses caused pronounced negative impacts in certain quarters, including one extreme outlier at -168.17% in 2024, evidencing a one-time substantial charge.
- Selling, General, and Administrative Expenses (SG&A)
- SG&A expenses fluctuated between approximately -9.8% and -14.7%, with occasional higher expense burdens in late 2023 and intermittently in 2024 and early 2025, signifying periods of elevated administrative or selling efforts.
- Intangible Asset Impairment Charge
- A significant intangible asset impairment charge was recorded near the end of the timeline, marked at -13.68%, indicating a material reduction in asset value during that period.
- Change in Fair Value of Contingent Consideration
- These changes generally showed small variations around zero, with occasional spikes such as 2.24% and 2.0% observed in mid to late 2022 and 2023. These fluctuations reflect periodic adjustments in contingent liabilities or potential obligations.
- Income from Operations
- Operating income proportions were relatively strong and stable through early periods, mostly ranging between roughly 32% and 53%. However, a dramatic loss of -132.85% occurred in mid-2024, indicating a substantial operational setback. Post this event, operating income recovered to lower but positive levels.
- Interest Income and Expense
- Interest income showed a consistent upward trend over the periods, beginning at under 1% and rising above 6% by late 2023 before slightly decreasing. Interest expenses steadily decreased, moving from near 1% down to roughly -0.1%, indicating decreasing borrowing costs or debt levels.
- Other Income (Expense), Net
- Other income and expense displayed considerable volatility with alternating positive and negative values across periods, evidencing fluctuating non-operating gains and losses that had mild impacts on overall profitability.
- Income Before Taxes
- Income before income taxes generally aligned with operating income trends, showing robust positive margins until a severe dip to approximately -128% in mid-2024, again reflecting extraordinary losses during that quarter.
- Income Taxes
- The provision for income taxes showed variability, shifting between benefits and charges, with the most negative provisions occurring around mid to late 2020 and 2022–2024 periods. This variability suggests fluctuations in taxable income and potential changes in tax planning or legislation effects.
- Net Income
- Net income percentages were strong and positive through most periods, often exceeding 35%, but suffered a dramatic collapse to approximately -136% in mid-2024, consistent with the large impairment and operating losses. In subsequent periods, net income returned to positive territory but at reduced levels compared to earlier years.