United Therapeutics Corporation
Cash Flow Statement
| Line Item | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $333.0M | $274.9M | $364.3M | $338.7M | $309.5M | $322.2M | $301.3M | $309.1M |
| Depreciation & Amortization | $24.2M | $22.6M | $22.8M | $21.9M | $21.1M | $19.8M | $19.7M | $19.1M |
| Depreciation | $22.8M | $21.6M | $22.7M | $21.5M | $20.9M | $19.6M | $19.4M | $18.8M |
| Amortization | — | — | — | — | — | — | — | — |
| Stock-Based Compensation | $43.4M | $33.9M | $39.0M | $39.1M | $37.8M | $31.8M | $27.0M | $41.7M |
| Net Cash from Operating Activities | $313.6M | $463.3M | $346.2M | $562.1M | $191.7M | $461.2M | $341.2M | $377.2M |
| Investing Activities | ||||||||
| Capital Expenditures | $108.0M | $100.8M | $172.9M | $210.5M | $62.2M | $74.9M | $86.7M | $76.5M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $87.5M | $743.7M | $-227.6M | $140.9M | $-299.9M | $-164.7M | $-123.2M | $-114.9M |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | $0 | $1.50B | $0 | $1.00B | $0 | $0 | $0 | $0 |
| Net Cash from Financing Activities | $122.4M | $-1.48B | $98.4M | $-956.0M | $-198.6M | $-93.8M | $-74.7M | $-64.1M |
| Net Change in Cash | $523.5M | $-277.4M | $217.0M | $-253.0M | $-306.8M | $202.7M | $143.3M | $198.2M |
| Free Cash Flow | $205.6M | $362.5M | $173.3M | $351.6M | $129.5M | $386.3M | $254.5M | $300.7M |