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
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
The revenue composition remains almost entirely dependent on product revenues, which consistently represent nearly 100% of total turnover. A marginal increase in other revenues is observed in early 2025, though it does not materially alter the primary revenue stream.
- Gross Profitability Trends
- Gross profit margins have remained high throughout the period, generally fluctuating between 85% and 89%. A slight downward trajectory is evident starting in late 2023, with cost of sales increasing from approximately 11% to a range of 13% to 14.6% by early 2026. This indicates a gradual compression of gross margins over the analyzed timeframe.
- Operating Expense Evolution
- Research and development (R&D) expenses show a sustained upward trend, rising from approximately 23% to 28% of revenues in 2021 to a higher baseline of 30% to 36% between 2023 and 2026. Similarly, selling, general, and administrative (SG&A) expenses have increased from an average of 10% in 2021 to approximately 16% by March 2026, suggesting an increase in the operational cost of maintaining and expanding market presence.
- Non-Recurring and Extraordinary Items
- The financial statements are characterized by significant volatility due to acquired in-process research and development (IPR&D) expenses. Massive spikes occurred in June 2021 (-53.44%) and June 2024 (-168.17%), the latter resulting in a substantial operating loss for that quarter. Additionally, a one-time intangible asset impairment charge of 13.68% was recorded in March 2025, contributing to a temporary decline in operating margins.
- Non-Operating Income and Net Margin
- There is a notable increase in interest income as a percentage of revenues, climbing from under 0.1% in early 2021 to peaks of over 7% in late 2023. This trend suggests a significant accumulation of cash reserves and a positive impact from higher interest rate environments. Despite the volatility caused by IPR&D charges, net income margins have generally remained robust, typically ranging between 30% and 40%, with a brief dip in early 2025 to 23.33% before stabilizing.