United Therapeutics Corporation
Cash Flow Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $1.33B | $1.20B | $984.8M | $727.3M | $475.8M | $514.8M | $-104.5M | $589.2M |
| Depreciation & Amortization | $85.6M | $72.5M | $53.2M | $51.3M | $49.9M | $49.9M | $45.9M | $35.9M |
| Depreciation | $84.7M | $71.6M | $52.9M | $51.2M | $49.8M | $49.7M | $45.7M | $35.8M |
| Amortization | $900.0K | $900.0K | $300.0K | $100.0K | $100.0K | $200.0K | $200.0K | $100.0K |
| Stock-Based Compensation | $147.7M | $144.0M | $39.1M | $106.8M | $138.5M | $163.8M | $45.4M | $-26.4M |
| Net Cash from Operating Activities | $1.56B | $1.33B | $978.0M | $802.5M | $598.2M | $755.7M | $-206.6M | $778.4M |
| Investing Activities | ||||||||
| Capital Expenditures | $520.5M | $246.5M | $230.4M | $138.8M | $120.8M | $59.3M | $83.7M | $184.4M |
| Business Acquisitions | $0 | $0 | $89.2M | $0 | $0 | $0 | $0 | $124.1M |
| Net Cash from Investing Activities | $-551.3M | $417.2M | $-719.6M | $-811.5M | $-486.9M | $-738.5M | $-335.4M | $-820.6M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $1.00B | $1.00B | $0 | $0 | — | — | — | — |
| Net Cash from Financing Activities | $-1.15B | $-1.25B | $-11.9M | $75.4M | $44.8M | $-16.9M | $611.2M | $6.3M |
| Net Change in Cash | $-140.1M | $489.5M | $246.5M | $66.4M | $156.1M | $300.0K | $69.2M | $-35.9M |
| Free Cash Flow | $1.04B | $1.08B | $747.6M | $663.7M | $477.4M | $696.4M | $-290.3M | $594.0M |