Common-Size Income Statement
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
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Vertex Pharmaceuticals Inc., common-size consolidated income statement (quarterly data)
Based on: 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).
- Revenues and Revenue Composition
- Net product revenues consistently represent nearly all total revenues, maintaining approximately 100% share across the entire period examined, except for minor fluctuations such as 99.64% at the end of the last period and some small occurrences of other revenues contributing up to 0.36% at various points, indicating a strong reliance on product sales for overall revenue generation.
- Cost of Sales and Gross Profit
- The cost of sales as a percentage of revenues generally fluctuates between approximately -10.73% and -14.62%, with an increasing trend toward the higher cost end in the more recent quarters, peaking around -14.62%. Correspondingly, gross profit margins show a mild declining trend from above 89% in early periods to a range closer to 85-87% in later periods, suggesting increasing production or acquisition costs relative to revenues.
- Research and Development Expenses
- R&D expenses exhibit considerable volatility but largely remain a significant expense category, ranging broadly between -23% and -36%. Notably, the periods around mid-2024 show spikes up to -36.54% and beyond, including significant negative contributions classified as acquired in-process R&D expenses, such as the extraordinary spike of -168.17%, which suggests occasional large costs related to rights or technology acquisitions impacting these figures substantially.
- Selling, General and Administrative Expenses
- SG&A expenses demonstrate a generally steady but slightly increasing share of revenues, typically between approximately -9.8% and -14.66%. The trend indicates a moderate increase in administrative and selling costs over time, with some peaks in the last few periods.
- Other Notable Charges
- There are occasional significant charges impacting financial performance, notably an intangible asset impairment charge recorded as a substantial -13.68% of revenues in the final period examined. Additionally, changes in the fair value of contingent consideration vary erratically but generally remain minor in relation to total revenues.
- Operating Income
- Income from operations remains positive through most periods, typically ranging between roughly 32% and 53% of revenues, except for a sharp negative deviation in one period corresponding to -132.85%. This anomaly appears related to the extraordinary charges and possibly impairment losses during that time frame. Generally, operating profitability remains strong but with some periods of pronounced volatility.
- Interest and Other Income/Expenses
- Interest income shows a clear upward trend from around 0.08% to a peak near 7.13%, indicating improved returns from investments or cash reserves over time. Interest expense steadily declines from nearly -0.93% to about -0.11%, reflecting reduced borrowing costs or lower interest-bearing liabilities. Other income (expense), net, fluctuates widely and does not show a clear trend, occasionally contributing positively or negatively to overall income.
- Income Before Taxes and Tax Provision
- Income before income taxes mostly remains robust, aligning closely with operating income trends but includes volatility and a marked negative outlier around -128.18%. Income tax provisions fluctuate considerably with several quarters showing benefits (negative tax provision) and others showing provisions up to around -17.47%. This variability reflects changing taxable income bases and possibly differing tax strategies or credits across quarters.
- Net Income
- Net income largely follows operating income trends with generally strong profitability, often above 30% of revenues, peaking near 54.92%, before declining to lower levels towards the end of the period. Significant declines correspond with the periods showing high R&D charges and impairment, including a steep negative spike around -135.83%, indicating notable challenges affecting bottom-line results. Nonetheless, profitability recovers partially in subsequent quarters, maintaining positive net income.