Vertex Pharmaceuticals (VRTX) FY2015 results: revenue $1.0 billion, up 77.9% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $1.0 billion for fiscal 2015, the year ended 31 December 2015, up 77.9% on the year before. Net income was -$556 million, and diluted earnings per share $-2.31. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2016.
Revenue
$1.0 billion
+77.9% on the year
FY2008FY2015
Operating margin
-45.2%
-119.3% a year earlier
FY2008FY2015
Net income
-$556 million
FY2008FY2015
Diluted EPS
-$2.31
FY2008FY2015
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Revenue
1,032
580
1,212
+77.9%
Cost of revenue
117
39.7
89.0
+194.9%
Gross profit
915
541
1,123
+69.3%
Gross margin
88.7%
93.2%
92.7%
Research and development
996
856
882
+16.4%
Selling, general and administrative
377
305
356
+23.3%
Operating income
-467
-692
-610
Operating margin
-45.2%
-119.3%
-50.3%
Pre-tax income
-558
-735
-626
Income tax
30.4
7.0
-122
+336.6%
Net income
-556
-739
-445
Net margin
-53.9%
-127.2%
-36.7%
Diluted EPS
-$2.31
-$3.14
-$1.98
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Operating cash flow
-365
-573
-60.7
Capital expenditure
45.3
51.2
51.4
-11.5%
Free cash flow
-411
-624
-112
Free cash flow margin
-39.8%
-107.6%
-9.2%
Cash from investing
269
n/a
n/a
Cash from financing
189
n/a
n/a
Depreciation and amortisation
62.3
63.3
48.4
-1.4%
Share-based compensation
231
178
127
+30.1%
Diluted shares, weighted
241m
235m
225m
+2.6%
Shares outstanding at period end
246m
242m
234m
+1.9%
Balance sheet
$ million
FY2015
FY2014
FY2013
On the year
Last 8 years
Shareholders' equity
940
1,075
1,356
-12.6%
Non-controlling interest
154
21.2
0.0
+625.6%
Debt
295
295
0.0
+0.1%
Other liabilities
1,110
944
963
+17.6%
Total liabilities and equity
2,499
2,335
2,319
+7.0%
Fixed assets
698
716
697
-2.5%
Goodwill
50.4
39.9
31.0
+26.2%
Investments
328
762
896
-57.0%
Cash and equivalents
715
625
569
+14.3%
Receivables
174
76.0
85.5
+128.8%
Inventory
57.2
30.8
14.1
+85.4%
Other assets
477
85.0
26.4
+461.3%
Total assets
2,499
2,335
2,319
+7.0%
10-K for the year ended 31 December 2015, filed 16 February 2016: the filing.