"We are focused on driving a significant expansion in the patients we serve with the ongoing launch of CASGEVY and two recent U.S. NDA approvals: ALYFTREK... and JOURNAVX." - Dr. Reshma Kewalramani
— Dr. Reshma Kewalramani
03Detailed Report
VRTX
Vertex Pharmaceuticals Incorporated
Period
Q4 2024
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 13, 2026
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Executive Summary
Vertex Pharmaceuticals delivered impressive financial results for Q4 2024, with total revenue reaching $2.91 billion, an increase of 16% compared to Q4 2023, and a record full-year revenue of $11.02 billion, up 12% from the previous year. This year's growth was primarily fueled by a robust performance in the cystic fibrosis (CF) sector, aided by the successful launch of the new medication ALYFTREK. Additionally, the newly approved JOURNAVX offers Vertex a solid entry into the non-opioid pain management market, potentially enhancing patient accessibility and addressing the opioid crisis. Management views this as a pivotal year for diversifying revenue streams and expanding patient reach.
Key Performance Indicators
Revenue
Increasing
2.91B
QoQ: 5.05% | YoY: 15.66%
Gross Profit
Increasing
2.49B
85.46% margin
QoQ: 4.59% | YoY: 15.76%
Operating Income
Increasing
1.03B
QoQ: -8.09% | YoY: 7.01%
Net Income
Decreasing
913.00M
QoQ: -12.67% | YoY: -5.76%
EPS
Decreasing
3.55
QoQ: -12.35% | YoY: -5.59%
Revenue Trend
Margin Analysis
Financial Highlights
Revenue: $2.91 billion (up 16% YoY) Cost of Revenue: $423.4 million Gross Profit: $2.49 billion (Gross Profit Margin: 85.5%) Operating Income: $1.03 billion (Operating Income Margin: 35.2%) Net Income: $913 million (Net Income Margin: 31.4%) EPS: $3.55 (Diluted EPS: $3.50) Cash at Year-End: $4.57 billion
The notable increase in revenue was backed by a 17% growth in U.S. sales, attributed to strong market demand and a price increase implemented in January 2024. Management highlighted the company's ability to exceed revenue guidance and the importance of newly launched products in diversifying its revenue base.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
2.91B
15.66%
5.05%
Gross Profit
2.49B
15.76%
4.59%
Operating Income
1.03B
7.01%
-8.09%
Net Income
913.00M
-5.76%
-12.67%
EPS
3.55
-5.59%
-12.35%
Key Financial Ratios
Gross Profit Margin
Excellent
85.50%
Gross profit margin is exceptional, indicating strong pricing power and operational efficiency
Operating Profit Margin
Excellent
35.20%
Operating margin is exceptional, indicating strong pricing power and operational efficiency
Net Profit Margin
Excellent
31.40%
Net profit margin is exceptional, indicating strong pricing power and operational efficiency
Return on Assets
Fair
4.05%
Return on assets is acceptable but below top-tier companies
Return on Equity
Fair
5.56%
Return on equity is acceptable but below top-tier companies
Current Ratio
Strong
2.69
Current ratio indicates excellent liquidity and financial flexibility
Debt to Equity
Conservative
0.11
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
Growth
28.39x
Elevated P/E suggests growth expectations or premium valuation
Price to Book
High Premium
6.32x
Very high premium suggests asset-light business model or lofty expectations
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