United Therapeutics Corp.
Income Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Revenue | — | $3.18B | $2.88B | $2.33B | $1.94B | $1.69B | $1.48B | $1.45B |
| Cost of Revenue | — | $384.4M | $309.7M | $257.5M | $151.6M | $122.5M | $108.1M | $117.6M |
| Gross Profit | — | $2.80B | $2.57B | $2.07B | $1.78B | $1.56B | $1.38B | $1.33B |
| Gross Margin | — | 87.9% | 89.2% | 88.9% | 92.2% | 92.7% | 92.7% | 91.9% |
| Operating Expenses | ||||||||
| Research & Development | — | $550.0M | $481.0M | $408.0M | $322.9M | $540.1M | $357.7M | $1.18B |
| SG&A Expense | — | $755.8M | $709.7M | $477.1M | $482.1M | $467.0M | — | — |
| Operating Income | — | $1.49B | $1.38B | $1.18B | $979.7M | $555.9M | $593.6M | $-187.6M |
| Operating Margin | — | 46.9% | 47.9% | 50.9% | 50.6% | 33.0% | 40.0% | -12.9% |
| Interest Expense | — | — | — | $59.3M | $32.4M | $18.6M | $23.5M | $44.2M |
| Pretax Income | — | $1.71B | $1.54B | $1.27B | $950.6M | $593.9M | $638.9M | $-165.0M |
| Income Tax Expense | — | $379.2M | $343.9M | $289.5M | $223.3M | $118.1M | $124.1M | $-60.5M |
| Net Income | — | $1.33B | $1.20B | $984.8M | $727.3M | $475.8M | $514.8M | $-104.5M |
| Net Margin | — | 41.9% | 41.5% | 42.3% | 37.6% | 28.2% | 34.7% | -7.2% |
| EPS (Basic) | — | $30.13 | $26.44 | $21.04 | $15.98 | $10.60 | $11.65 | $-2.39 |
| EPS (Diluted) | — | $27.86 | $24.64 | $19.81 | $15.00 | $10.06 | $11.54 | $-2.39 |
| Shares Outstanding (Basic) | 43.8M | 44.3M | 45.2M | 46.8M | 45.5M | 44.9M | 44.2M | 43.8M |
| Shares Outstanding (Diluted) | 43.8M | 47.9M | 48.5M | 49.7M | 48.5M | 47.3M | 44.6M | 43.8M |
| Dividends Per Share | — | — | — | — | — | — | — | — |