Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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Vertex Pharmaceuticals Inc. pages available for free this week:
- Statement of Comprehensive Income
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Debt
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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2026-06-30), 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 of the organization is characterized by a high reliance on equity financing, with shareholders' equity consistently representing between 69% and 78% of total liabilities and shareholders' equity. Total liabilities remained relatively stable for a significant period, generally fluctuating between 22% and 30% of the total balance sheet, indicating a conservative leverage profile.
- Equity Composition and Organic Growth
- A significant structural shift is observed within the equity components. Additional paid-in capital exhibited a steady and pronounced decline, falling from 61.90% in March 2021 to 16.43% by June 2026. Conversely, retained earnings demonstrated a strong upward trajectory, increasing from 12.48% in March 2021 to 57.22% by June 2026. This trend indicates that the company's equity base is transitioning from contributed capital to earned capital, reflecting sustained profitability and the accumulation of retained earnings over time.
- Current Liability Trends
- Current liabilities have remained relatively stable as a percentage of the total balance sheet, typically ranging between 14% and 18%. Accrued expenses constitute the primary component of these obligations, consistently accounting for 11% to 14% of the total liabilities and shareholders' equity. Accounts payable and other current liabilities represent minor portions of the total capital structure, showing minimal volatility.
- Long-term Obligations and Lease Commitments
- A notable change in long-term liability composition occurred starting in June 2024. Long-term operating lease liabilities, which previously trended downward from 3.04% in March 2021 to 1.50% in March 2024, experienced a sharp increase to 2.91% in June 2024 and continued to rise, peaking at 7.50% by March 2026. This represents a significant increase in the proportional weight of lease obligations within the total balance sheet.
- Overall Liability Profile
- Total liabilities saw a gradual increase in proportional weight toward the latter part of the observed period, rising from a low of 22.01% in September 2022 to a peak of 30.34% in September 2025, before settling slightly at 26.17% by June 2026. This increase is primarily attributed to the rise in long-term operating lease liabilities rather than an increase in short-term operational debt.