Vertex Pharmaceuticals (VRTX) FY2021 results: revenue $7.6 billion, up 22.1% on the year
Vertex Pharmaceuticals Inc. (VRTX) reported revenue of $7.6 billion for fiscal 2021, the year ended 31 December 2021, up 22.1% on the year before. Net income was $2.3 billion, down 13.6%, and diluted earnings per share $9.01. The figures are the company's own, from the 10-K it filed with the SEC on 9 February 2022.
Revenue
$7.6 billion
+22.1% on the year
FY2014FY2021
Operating margin
36.7%
46.0% a year earlier
FY2014FY2021
Net income
$2.3 billion
-13.6% on the year
FY2014FY2021
Diluted EPS
$9.01
-12.4% on the year
FY2014FY2021
this yearthe year beforeHover a bar for its figure.
$ 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
FY2021
FY2020
FY2019
On the year
Last 8 years
Operating cash flow
2,644
3,254
1,569
-18.7%
Capital expenditure
235
260
75.5
-9.5%
Free cash flow
2,408
2,994
1,494
-19.5%
Free cash flow margin
31.8%
48.2%
35.9%
Cash from investing
-341
99.4
-1,235
Cash from financing
-1,478
-505
127
Depreciation and amortisation
126
110
107
+14.7%
Share-based compensation
441
429
360
+2.8%
Buybacks
1,425
539
186
+164.4%
Diluted shares, weighted
260m
263m
261m
-1.3%
Shares outstanding at period end
254m
260m
259m
-2.1%
Balance sheet
$ million
FY2021
FY2020
FY2019
On the year
Last 8 years
Shareholders' equity
10,100
8,687
6,085
+16.3%
Debt
0.0
0.0
n/a
Operating lease liabilities
377
350
84.3
+7.7%
Finance lease liabilities
510
539
539
-5.4%
Other liabilities
2,445
2,175
1,610
+12.4%
Total liabilities and equity
13,432
11,752
8,318
+14.3%
Fixed assets
n/a
n/a
745
Goodwill
1,002
1,002
1,002
+0.0%
Intangible assets
400
400
400
0.0%
Investments
730
671
699
+8.8%
Cash and equivalents
6,795
5,988
3,109
+13.5%
Receivables
1,137
885
634
+28.4%
Inventory
353
281
168
+25.8%
Other assets
3,016
2,525
1,562
+19.4%
Total assets
13,432
11,752
8,318
+14.3%
10-K for the year ended 31 December 2021, filed 9 February 2022: the filing.