United Therapeutics Corp (UTHR)
United Therapeutics Corporation engages in the development and commercialization of products to address the unmet medical needs of patients with chronic and life-threatening diseases in the United States and internationally. It offers Tyvaso DPI, an inhaled dry powder via pre-filled and single-use cartridges; Nebulized Tyvaso, an inhaled solution via ultrasonic nebulizer; Remodulin (treprostinil) injection to treat patients with pulmonary arterial hypertension to diminish symptoms associated with exercise; Orenitram, a tablet dosage form of treprostinil, to delay disease progression and improve exercise capacity in PAH patients; and Adcirca, an oral PDE-5 inhibitor to enhance the exercise ability in PAH patients. It also markets and sells Unituxin (dinutuximab) injection, a monoclonal antibody for high-risk neuroblastoma; and Remunity Pump, which contains a pump and separate controller for Remodulin. In addition, it is involved in developing RemunityPRO Pump and Ralinepag for the treatment of PAH;and Nebulized Tyvaso, for the treatment of idiopathic pulmonary fibrosis, as well as xenografts, which are development-stage organ products. Further, it provides preclinical products, including EVLP/CLES, for lung transplant; UKidney, UHeart, UThymoKidney, a development-stage gene-edited porcine kidneys and hearts for xenotransplantation; ULobe, for allogeneic regenerative medicine; ULung, for autologous regenerative medicine; IVIVA Kidney, for autologous regenerative medicine; miroliver, for allogeneic regenerative medicine; and mirokidney, for allogeneic regenerative medicine. It has licensing and collaboration agreements with DEKA Research & Development Corp. to develop a semi-disposable system for the subcutaneous delivery of treprostinil; MannKind Corporation to develop and license treprostinil inhalation powder and the Dreamboat device; and Arena Pharmaceuticals, Inc. to develop Ralinepag. The company was founded in 1996 and is headquartered in Silver Spring, Maryland.
- Symbol
- UTHR
- Exchange
- Nasdaq
- Sector
- Healthcare
- Industry
- Drug Manufacturers - Specialty & Generic
- Market cap
- $21.24B
- 52 week range
- 409.07 - 609.35
Valuation
- Share price
- $489.42 (close of 2026-09-23)
- P/E (TTM)
- 16.46x
- Price to book
- 3.32x
- Price to free cash flow
- 19.43x
- Enterprise value
- $19.43B
- Book value per share
- $149.97
Price performance
| Period | Change |
|---|
| 1 day | -0.75% |
| 5 days | -2.18% |
| 1 month | -4.62% |
| 3 months | -10.09% |
| 6 months | -6.10% |
| Year to date | +0.45% |
| 1 year | +12.75% |
| 3 years | +119.72% |
| 5 years | +144.14% |
| 10 years | +284.73% |
| All time | +7936.45% |
Profitability and growth
- Return on equity
- 18.81%
- Return on invested capital
- 20.10%
- Return on assets
- 16.94%
- Return on capital employed
- 20.39%
- Gross margin
- 87.92%
- Net margin
- 41.94%
- EBITDA margin
- 49.58%
- Revenue growth
- 10.61%
- Net income growth
- 11.68%
- Free cash flow growth
- -3.69%
Cash flow and balance sheet
- Free cash flow yield (TTM)
- 5.15%
- Current ratio
- 5.73x
- Net debt to EBITDA
- -1.08x
Latest reported year
- Period end
- 2025-12-31
- Fiscal year
- 2025
- Revenue
- $3.18B
- Cost of revenue
- $384.40M
- Gross profit
- $2.80B
- EBITDA
- $1.58B
- Net income
- $1.33B
- Earnings per share
- $30.13
- Research and development
- $550.00M
- Shares outstanding
- 44.30M
Income statement by year
| Period end | Revenue | Gross profit | Net income | EPS |
|---|
| 2025-12-31 | $3.18B | $2.80B | $1.33B | $30.13 |
| 2024-12-31 | $2.88B | $2.57B | $1.20B | $26.44 |
| 2023-12-31 | $2.33B | $2.07B | $984.80M | $21.04 |
| 2022-12-31 | $1.94B | $1.78B | $727.30M | $15.98 |
| 2021-12-31 | $1.69B | $1.56B | $475.80M | $10.60 |
| 2020-12-31 | $1.48B | $1.38B | - | $11.65 |
| 2019-12-31 | $1.45B | $1.33B | $-104.50M | $-2.39 |
| 2018-12-31 | $1.63B | $1.43B | $589.20M | $13.54 |
| 2017-12-31 | $1.73B | $1.62B | $417.90M | $9.50 |
| 2016-12-31 | $1.60B | $1.53B | $713.70M | $16.29 |
Margins and returns by year
| Period end | Gross margin | Net margin | Return on equity | Return on capital |
|---|
| 2025-12-31 | 87.92% | 41.94% | 18.81% | 20.10% |
| 2024-12-31 | 89.24% | 41.53% | 18.55% | 20.47% |
| 2023-12-31 | 88.94% | 42.31% | 16.46% | 16.35% |
| 2022-12-31 | 92.17% | 37.56% | 15.16% | 16.32% |
| 2021-12-31 | 92.73% | 28.23% | 12.02% | 11.33% |
| 2020-12-31 | 92.71% | 0.00% | 0.00% | 17.67% |
| 2019-12-31 | 91.88% | -7.21% | -3.76% | -6.21% |
| 2018-12-31 | 87.79% | 36.20% | 21.13% | 29.88% |
| 2017-12-31 | 93.87% | 24.22% | 19.88% | 33.17% |
| 2016-12-31 | 95.45% | 44.64% | 38.55% | 86.35% |
Cash and debt by year
| Period end | Cash |
|---|
| 2025-12-31 | $1.56B |
| 2024-12-31 | $1.70B |
| 2023-12-31 | $1.21B |
| 2022-12-31 | $961.20M |
| 2021-12-31 | $894.80M |
| 2020-12-31 | $738.70M |
| 2019-12-31 | $738.40M |
| 2018-12-31 | $669.20M |
| 2017-12-31 | $705.10M |
| 2016-12-31 | $1.02B |
Free cash flow by year
| Period end | Free cash flow | Stock-based compensation |
|---|
| 2025-12-31 | $1.04B | $147.70M |
| 2024-12-31 | $1.08B | $144.00M |
| 2023-12-31 | $747.60M | $39.10M |
| 2022-12-31 | $663.70M | $106.80M |
| 2021-12-31 | $477.40M | $138.50M |
| 2020-12-31 | $696.40M | $163.80M |
| 2019-12-31 | $-290.30M | $45.40M |
| 2018-12-31 | $594.00M | $-26.40M |
| 2017-12-31 | $387.90M | $73.50M |
| 2016-12-31 | $605.60M | $12.10M |
Investor relations
Next earnings report
- Next confirmed report
- 2026-11-04
- Consensus EPS estimate
- $6.38
Past earnings dates
| Reported | Fiscal period | EPS estimate |
|---|
| 2026-08-05 | Jun/2026 | $6.82 |
| 2026-05-06 | - | - |
| 2026-02-25 | - | - |
| 2025-10-29 | - | - |
| 2025-07-30 | - | - |
| 2025-04-30 | - | - |
| 2025-02-26 | - | - |
| 2024-10-30 | - | - |
Filings and sources
- Company website
- unither.com
- SEC filings
- 10-K, 10-Q and 8-K on EDGAR
- Earnings calendar
- All upcoming reports
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