Stock Analysis on Net
Stock Analysis on Net

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable
Accrued expenses
Other current liabilities
Current liabilities
Long-term operating lease liabilities
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.01 par value; none issued
Common stock, $0.01 par value
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings
Shareholders’ equity
Total liabilities and shareholders’ equity

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 capital structure is characterized by a heavy reliance on equity financing, with shareholders' equity consistently accounting for the vast majority of total liabilities and shareholders' equity, typically ranging between 69% and 78%. Total liabilities remain relatively low and stable, fluctuating between 22% and 30% throughout the analyzed period.

Liability Trends and Composition
Current liabilities represent the primary component of the company's obligations, generally fluctuating between 14% and 18%. Accrued expenses are the most significant driver within this category, maintaining a consistent presence between 11% and 14% of the total balance sheet. Accounts payable remain a negligible factor, typically staying under 2%.
Long-Term Obligations
A notable shift in long-term liabilities occurred starting in June 2024, where long-term operating lease liabilities increased sharply from approximately 1.5% to a peak of 7.5% by March 2026. Other long-term liabilities showed a gradual decline from 6.79% in early 2021 to 4.74% by early 2026, suggesting a strategic shift in the nature of long-term obligations.
Equity Evolution
There is a profound transition in the composition of shareholders' equity. Additional paid-in capital has experienced a steady and significant decline, dropping from 61.90% in March 2021 to 17.91% by March 2026. This decline is mirrored by a substantial increase in retained earnings, which rose from 12.48% to 55.09% over the same period.

The redistribution of equity from contributed capital to retained earnings indicates a strong trend of internal capital generation and sustained profitability. The overall low leverage ratio and the increasing proportion of retained earnings suggest a high degree of financial solvency and a reduced dependence on external funding sources.