Analysis of Geographic Areas
Vertex Pharmaceuticals Inc. operates in 2 regions: United States and Outside of the United States.
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- Income Statement
- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
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Area Asset Turnover
Vertex Pharmaceuticals Inc., asset turnover by geographic area
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Outside of the United States |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- United States Asset Turnover
- The asset turnover ratio in the United States shows a fluctuating trend over the five-year period. It began at 4.00 in 2020 and slightly decreased to 3.92 in 2021. This was followed by a gradual increase, reaching a peak of 4.44 in 2023. However, in 2024, there was a significant decline to 2.79, representing the lowest point in the observed timeframe.
- Outside of the United States Asset Turnover
- The asset turnover ratio outside of the United States exhibited a generally upward trend during the first four years. Starting from 18.03 in 2020, it increased markedly to 29.96 in 2021 and continued to rise to 35.79 in 2022 and 41.08 in 2023. In 2024, a notable decrease occurred, with the ratio falling to 22.56, which is still higher than the initial value in 2020 but significantly below the peak in 2023.
- Comparative Insights
- Throughout the period, the asset turnover ratio outside of the United States remained substantially higher than the ratio within the United States. Both geographies experienced a downward adjustment in 2024 after reaching their respective peaks in 2023. The decline in 2024 may indicate changes in asset utilization efficiency or operational dynamics impacting turnover differently across the geographic segments.
Area Asset Turnover: United States
Vertex Pharmaceuticals Inc.; United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenue Trends
- The revenue generated in the United States geographic area showed a consistent upward trend over the five-year period from 2020 to 2024. Starting at approximately 4.83 billion USD in 2020, revenues increased steadily each year, reaching around 6.68 billion USD in 2024. This represents a compound growth indicative of expanding operations or sales within this market.
- Long-lived Assets Trends
- Long-lived assets increased from roughly 1.21 billion USD in 2020 to a notable peak of 2.39 billion USD in 2024. This rise was gradual from 2020 through 2023, maintaining a relatively stable level around 1.35 billion USD, before nearly doubling in 2024. The substantial increase in the final year may reflect significant capital investments, acquisitions, or asset revaluations in the area.
- Area Asset Turnover Ratio
- The area asset turnover ratio exhibited some variability across the period. It began at a ratio of 4.00 in 2020, followed by a slight decline to 3.92 in 2021. Subsequently, it increased to 4.17 in 2022 and further to 4.44 in 2023, indicating improved efficiency in generating revenue from assets. However, in 2024, the ratio dropped sharply to 2.79, suggesting a decrease in asset utilization efficiency, likely influenced by the significant increase in long-lived assets outpacing revenue growth in that year.
- Overall Insights
- The data reveals consistent revenue growth alongside increasing investment in long-lived assets within the United States market. While asset turnover efficiency improved up to 2023, the sharp decline in 2024 suggests that the recent growth in assets has not yet translated into proportional revenue increases. This may indicate a phase of asset expansion that requires future periods to realize full operational returns.
Area Asset Turnover: Outside of the United States
Vertex Pharmaceuticals Inc.; Outside of the United States; area asset turnover calculation
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||
| Revenues | |||||
| Long-lived assets | |||||
| Area Activity Ratio | |||||
| Area asset turnover1 | |||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 2024 Calculation
Area asset turnover = Revenues ÷ Long-lived assets
= ÷ =
- Revenues
- Revenues from the geographic area outside of the United States showed a consistent upward trend over the period analyzed. Starting at approximately $1.38 billion in 2020, revenues more than tripled by 2024, reaching roughly $4.34 billion. This reflects sustained growth year-over-year, with particularly strong increases between 2020 and 2022, followed by continued but somewhat moderated growth through 2024.
- Long-lived Assets
- Long-lived assets remained relatively stable between 2020 and 2021, around $76 million. Beginning in 2022, there was an upward trajectory, with a notable acceleration in 2024 when assets more than doubled from the previous year, reaching approximately $192 million. This significant increase in the final year suggests a major investment or asset acquisition occurred.
- Area Asset Turnover
- The area asset turnover ratio, which measures efficiency in using assets to generate revenue, increased sharply from 18.03 in 2020 to a peak of 41.08 in 2023. This indicates improving productivity and better revenue generation relative to asset base until 2023. However, in 2024, the ratio declined substantially to 22.56, suggesting that despite higher revenues, asset growth outpaced revenue growth, reducing turnover efficiency.
Revenues
Vertex Pharmaceuticals Inc., revenues by geographic area
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Outside of the United States | |||||
| Total |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Revenue Trends in the United States
- The revenue generated from the United States demonstrates a consistent upward trend over the analyzed period. From approximately $4.83 billion in 2020, the revenue increased steadily each year, reaching about $6.68 billion by 2024. This represents a compound growth indicating sustained expansion within this geographic area.
- Revenue Trends Outside of the United States
- Revenues from regions outside the United States show a more rapid growth rate compared to domestic revenues. Starting at roughly $1.38 billion in 2020, the revenue grew considerably, more than tripling to about $4.34 billion by 2024. This highlights a significant expansion in international markets during the time frame.
- Total Revenue Analysis
- Total global revenue displays a strong upward trajectory, increasing from about $6.21 billion in 2020 to over $11.02 billion in 2024. Both geographic segments contributed to this growth, with international revenues showing a higher growth rate, thereby increasing their share of total revenues over time.
- Geographic Revenue Composition
- While the United States remains the dominant revenue source throughout the period, the proportion of revenue from outside the United States has grown significantly. This trend suggests successful market penetration and diversification of revenue streams internationally, reducing reliance on the domestic market.
- Overall Insights
- The data indicates robust and consistent revenue growth across all regions, with international markets expanding at a faster pace than domestic operations. This pattern reflects effective strategic initiatives aimed at global markets, providing a solid foundation for continued revenue enhancement in subsequent years.
Long-lived assets
Vertex Pharmaceuticals Inc., long-lived assets by geographic area
US$ in thousands
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | |
|---|---|---|---|---|---|
| United States | |||||
| Outside of the United States | |||||
| Total |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The data regarding long-lived assets in geographic areas reveals several notable trends over the five-year period from 2020 to 2024.
- United States
- The value of long-lived assets in the United States displays a relatively stable pattern between 2020 and 2023, with a slight increase from approximately 1,207,748 thousand US dollars in 2020 to 1,359,700 thousand US dollars in 2023. However, there is a significant increase in 2024, where the assets nearly double, reaching 2,392,400 thousand US dollars. This sharp rise in 2024 represents a noteworthy change compared to the prior years, indicating a possible strategic investment or acquisition activity within the United States.
- Outside of the United States
- Long-lived assets outside of the United States remain relatively low but show a steady upward trend over the time frame. Values increased from 76,350 thousand US dollars in 2020 to 93,200 thousand US dollars in 2023, followed by a substantial jump to 192,200 thousand US dollars in 2024. This pattern mirrors the domestic trend with a notable asset expansion in 2024, suggesting enhanced investment or asset growth internationally as well.
- Total Long-lived Assets
- The total long-lived assets exhibit gradual growth from 1,284,098 thousand US dollars in 2020 to 1,452,900 thousand US dollars in 2023. The increase from 2023 to 2024 is particularly pronounced, with total assets rising sharply to 2,584,600 thousand US dollars. This considerable increase in the final period aligns with the significant increments observed both in the United States and outside of it, indicating a substantial overall expansion of long-lived assets in 2024.
In summary, the data demonstrates moderate growth of long-lived assets from 2020 through 2023, followed by a pronounced and significant increase in 2024 in both domestic and international regions. This pattern likely reflects strategic decisions or market conditions leading to a notable amplification of the asset base in the most recent year analyzed.